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Brazilian companies hear the siren call of US stock exchanges

SAO PAULO, Dec.22 (Reuters) – Pharmaceutical company Blau Farmaceutica SA, which listed its shares on the Brazilian B3 stock exchange (B3SA3.SA) in April, opened its first U.S. plasma bank and may consider relocating its headquarters social and its stock market listing in the United States.

The company (BLAU3.SA), which is currently headquartered in the state of Sao Paulo in Brazil and, until now, was mainly focused on activities in Latin America, intends to open 10 plasma backs to the United States in addition to its new location in Florida. . Once the expansion is complete, Blau may consider moving its headquarters to the United States.

In an interview with Reuters, Blau CFO Douglas Rodrigues said international investors, unlike those in Brazil, are used to the business models of pharmaceutical companies, including those engaged in plasma-based medicine.

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Blau is one of several Brazilian companies considering relocating to the United States and listing on a U.S. stock exchange, a trend fueled by the desire for greater access to investors, lower taxes. on corporations, more flexible regulation for controlling shareholders and better dynamics in capital markets.

This change shows how the success of U.S.-listed tech startups – including digital lender Nubank (NU.N) – has spurred Brazilian companies’ interest in other industries, ranging from retail to cosmetics, for moving from their legal domicile, primarily to the United States. but also to other places like Great Britain, Ireland and the Netherlands.

Banco Inter SA (BIDI3.SA), backed by SoftBank, web service provider Locaweb (LWSA3.SA), retailer Lojas Americanas (LAME3.SA) and cosmetics manufacturer Natura & Co (NTCO3.SA) are among the companies that have announced such measures. .

Brazilian company JBS SA (JBSS3.SA), the world’s largest meat processor, also announced that it will continue with a U.S. listing of its international operations next year.

On Tuesday, the Brazilian aircraft manufacturer Embraer SA (EMBR3.SA) unveiled an agreement with the ad hoc company Zanite to list its subsidiary of electric flying taxis on the New York Stock Exchange (NYSE). Embraer’s shares have skyrocketed on the news. Read more

The exit of Brazilian companies represents a growing risk for B3, which begins to look for ways to contain it, as well as for local fund managers who may find their investment universe small.

Lawyers, bankers and executives, however, expect the trend to continue for the time being, although they stress that it will be largely limited to companies with significant operations abroad. They don’t expect a corporate scramble for exits.

“Some Brazilian companies want access to a larger and more diverse investor base,” said Alessandro Zema, Morgan Stanley’s operations manager in Brazil.

They also want to take advantage of the generally higher valuations abroad.

Shares of Natura & Co, which has announced plans to trade its main B3 listing on the NYSE, are trading at a price / earnings multiple of around 29, compared to 41.5 for rival L’Oréal SA (OREP .PA).

Banco Inter, which was first listed on B3 in 2018, is trading at just over 12 times its book value, about half that of rival Nubank, which debuted on the NYSE this month- this. Read more

Companies listed outside of Brazil look for markets with more comparable companies as well as higher valuations, said Jean Marcel Arakawa, corporate lawyer at Mattos Filho in Sao Paulo, citing asset managers Patria Investment Ltd (PAX .O) and Vinci Partners Investments Ltd. (VINP.O) as examples.

Tech companies often decide to re-register as venture capitalists tend to prefer to supplement funding rounds using overseas holding companies. Another reason is to encourage founders or controlling shareholders to stay at the helm by allowing them to hold shares with special and higher voting rights.

For example, 3G Capital’s founding partners, including tycoon Jorge Paulo Lemann, will remain powerful players at Americanas SA (AMER3.SA) after the retailer’s merger with Lojas Americanas and listing in the United States. Banco Inter’s controlling shareholders, the Menin family, will occupy a position similar to digital banking.

NEW RULES

Until recently, Brazilian companies could not locally list receipts for their shares listed abroad through Brazilian Certificates of Deposit (BDR). Some have decided to ditch the local exchange, causing B3 to lose the initial public offerings and trading fees to the NYSE and Nasdaq exchanges.

Brazil’s securities industry watchdog CVM has changed this listing rule, prompting companies like Nubank and investment broker XP Inc to list their BDRs on B3. These BDRs recorded huge volumes of transactions when they started out.

“We try to meet the demands of businesses as they change,” said Flavia Mouta Fernandes, director of regulation at B3.

Brazil has also attempted to relax regulations governing the ownership of controlling shareholders of majority voting shares, although Fabiano Milane, corporate lawyer at Stocche Forbes in Sao Paulo, said local regulations are still not not equivalent to those of other countries.

“Companies already listed cannot use super-voting, and extraordinary voting rights are temporary,” said Milane.

Frustration over the perceived lack of predictability in the Brazilian legal system is another reason large companies choose to redomiciate, says Luis Semeghini Souza, lawyer and founding partner of Souza, Mello e Torres in Sao Paulo.

Some bankers, however, are skeptical that the current business migration will become a long-term trend.

“I think the universe of companies that could move represents maybe 5% of the companies in B3, mainly those that have or intend to have significant activities abroad”, said Roderick Greenlees, manager global investment bank at Itau BBA.

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Reporting by Tatiana Bautzer and Carolina Mandl Editing by Paul Simao

Our standards: Thomson Reuters Trust Principles.


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SpaceX Reports 132 Covid Cases to California HQ

At least 132 employees at SpaceX’s headquarters in Southern California have tested positive for the coronavirus, according to information published on a Los Angeles County website. This was the highest number of cases currently reported among private businesses in the county.

The outbreak erupted as a wave of infections spread across the country, mostly due to the virus variant Omicron, and also as the private space company founded and led by Elon Musk leads a rapid series of rocket launches at sites in California and Florida.

Some 6,000 employees at the company’s headquarters in Hawthorne, Calif., Build and manufacture SpaceX’s Falcon 9 rockets and Crew Dragon capsules. Rockets are the primary launch vehicle used by private companies and governments to put satellites into orbit, and capsules are NASA’s primary vehicle for transporting astronauts to the International Space Station. The company’s mission control room, where engineers are frequently shown during live video feeds of the launches, seated behind computer screens wearing masks, is also located in Hawthorne.

The outbreak at headquarters, reported earlier by The Los Angeles Times Based on data released Sunday by the Los Angeles County Public Health Department, comes a busy time for the company.

SpaceX on Sunday broke a corporate record for the fastest turnaround time between two missions, launching a Turkish satellite into space from the Kennedy Space Center in Florida just 18 hours after launching 52 of the Starlink’s Internet satellites. company in orbit Saturday from Vandenberg Space Force base in California. Another Florida mission is scheduled for Tuesday morning, sending a cargo capsule full of supplies and research to the space station for NASA, although local weather appears unfavorable.

SpaceX did not return a request for comment.

During an earlier phase of the coronavirus pandemic, Mr. Musk, founder and chief executive of SpaceX, opposed restrictions in California aimed at curbing the spread of the coronavirus. In May of last year, Mr Musk, also chief executive of Tesla, the electric car maker, defied a public health order by resuming production at the company’s Fremont plant despite county restrictions. that would have prevented employees from working.

In the aftermath of Thanksgiving this year, Mr. Musk stoked fears of SpaceX bankruptcy in emails sent to employees, urging them to address the engineering challenges of developing Starship, the company’s next-generation rocket.

The pandemic has frequently disrupted the activities of space flights, costing NASA nearly $ 3 billion due to delays, according to an internal report, and a Euro-Russian mission to Mars had to be postponed to 2022 at the beginning of 2020. Nevertheless, SpaceX maintained its operations throughout the pandemic, in particular by resuming the launches of astronauts from American soil in May 2020.

Mr Musk himself tested positive for the virus in November 2020 and was unable to attend the launch of four astronauts into space for NASA from the Kennedy Space Center.


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Mass protests against coup in Sudan mark anniversary of uprising

CAIRO – Sudanese took to the streets in the capital Khartoum and elsewhere in the country for mass protests on Sunday against a military takeover in October and a subsequent deal that reinstated Prime Minister Abdalla Hamdok but put the movement away.

The protests mark the third anniversary of the uprising that ultimately forced the military withdrawal of longtime autocrat Omar al-Bashir and his Islamist government in April 2019.

Video footage posted online showed tens of thousands of protesters marching through the streets of Khartoum and its sister city of Omdurman on Sunday. Protesters were seen waving the Sudanese flag and white flags with printed images of those killed in the uprising and the protests that followed.

Ahead of the protests, Sudanese authorities tightened security in the capital, barricading government and military buildings to prevent protesters from reaching the army headquarters and the presidential palace. They also blocked the main roads and bridges connecting Khartoum and Omdurman across the Nile.

Security forces used tear gas to disperse protesters who were heading for the palace on the bank of the Blue Nile in the heart of Khartoum, according to activist Nazim Sirag. Sudan’s Medical Committee said some protesters were injured, but did not provide a count.

Activists described chaotic scenes, with many protesters rushing through side streets with tear gas. Later, footage showed protesters at one of the palace gates chanting, “The people want the fall of the regime” – a slogan heard during the Arab Spring uprisings that began in late 2010. These movements have forced the withdrawal of leaders in Tunisia, Egypt, Libya and Yemen.

The Sudanese Professionals Association, which led the uprising against al-Bashir, called on protesters to gather in front of the palace and block the roads with makeshift barricades.

Demonstrations have also taken place elsewhere in the country, such as the coastal town of Port Sudan and the town of Atbara in the north of the country, the cradle of the uprising against al-Bashir.

The protests were called by the pro-democracy movement that led the uprising against al-Bashir and struck a power-sharing deal with the generals in the months following his ouster.

Relations between the generals and the civilians of the transitional government were fragile and limited by the takeover by the army on October 25 which overthrew the government of Hamdok.

Hamdok was reinstated last month under international pressure under a deal that calls for an independent technocratic cabinet under military control led by him. The agreement provided for the release of government officials and politicians detained since the coup.

Talks are underway to agree on what General Abdel-Fattah Burhan, head of the ruling Sovereign Council, has described as a “new political charter” focused on building a broader consensus among all forces and movements. policies.

Speaking to Sudanese on Saturday night before the protests, Hamdok said he honored the Nov. 21 agreement with the military primarily to prevent bloodshed. He warned that the country could sink further into chaos amid difficult economic and security challenges.

“Today we are facing a setback on the path of our revolution which threatens the security and integrity of the country,” Hamdok said, adding that the agreement was aimed at preserving the achievements of his government over the two years. years and to “protect our nation from sliding into a new international isolation.

“The deal, in my opinion, is the most effective and cheapest way to get back on track with civic and democratic transition,” he said.

Hamdok urged political parties and movements to agree on a “national charter” to complete the democratic transition and achieve peace with the rebel groups.

The pro-democracy movement insisted that power be handed over to a civilian government to lead the transition. Their incessant protests follow the slogan: “No negotiations, no compromise, no sharing of power” with the military.

The list of demands also includes the restructuring of the army and other security agencies under civilian oversight and the disbandment of militias. One is the Rapid Support Forces, a paramilitary force emerging from Janjaweed militias accused of atrocities during the Darfur conflict and more recently against pro-democracy protesters.

Sunday’s protests “united all revolutionary forces around a single demand: handing over power to civilians,” said Mohammed Yousef al-Mustafa, spokesperson for the Association of Sudanese Professionals.

“Prime Minister Hamdok must declare a clear position and choose to join the people or continue to side with the generals,” he told The Associated Press.

Continuing protests since the coup have increased pressure on the military and Hamdok, who has yet to announce his cabinet.

Security forces have resorted to violence, including firing live ammunition at protesters, in the latest round of protests, activists said. At least 45 people have been killed and hundreds injured in protests sparked by the coup, according to a count from a Sudanese medical group.


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The controversy over the Salvation Army’s anti-racism guide reaches the bell-ringers of Saranac Lake | News, Sports, Jobs

Salvation Army bellringer Cheri Fisher is making noise as Saranac Laquier Peter Johnson donates outside the Saranac Lake Post Office last month. Bell Ringers will be collecting donations for The Salvation Army’s Red Kettle Campaign at the Post Office and in front of Kinney’s in Saranac Lake until December 24. (Business photo – Lauren Yates)

SARANAC LAKE – Politically motivated media’s misrepresentation of a Salvation Army anti-racist guidebook makes local bell ringers question whether the charity is racist against white people. Some organizers are concerned that people will not donate this year due to the claims.

Conservative media accuse the Salvation Army of being “racist” against its white donors and claim that the charity demands that white donors apologize for their skin color. This has charity organizers fearful that people who believe the allegations will not donate to the organization this year.

The Salvation Army has called these claims “sensationalist” and said they came from people deliberately distorting the organization’s positive, anti-racist and anti-racist Christian message.

“Some individuals and groups have recently attempted to distort the label of our organization to serve their own programs,” Salvation Army Commissioner Kenneth Hodder wrote in a statement on November 25. “These claims are simply false and distort the very purpose of our work.”

The claims center on an internal study guide booklet – titled “Let’s talk about racism” – which the Salvation Army published earlier this year.

Local concerns

The issue in online publications has found its way to Saranac Lake.

“My volunteer bellmen arrested a few people to discuss the charge of racism against the Salvation Army” Saranac Lake Salvation Army bell ringing coordinator Maggie Mortensen said. “I would hate to lose people because of this.”

This hubbub over a brochure published in April only began when the Salvation Army’s biggest fundraising campaign of the year began.

“People say ‘We are not going to donate to The Salvation Army anymore because they support racism'” said Mortensen. “The bell-ringers tell me, ‘We don’t know what you’re talking about.'”

She said she wanted to end these allegations.

Hodder said the Salvation Army doesn’t think donors should apologize for their skin color, that America is an inherently racist country, or that opposing racism means the organization is moving away from it. Christianity in favor of another ideology.

Hodder said the Salvation Army’s mission is rooted in the anti-discrimination teachings of Jesus Christ.

“The Salvation Army believes that racism is fundamentally incompatible with Christianity”, he wrote.

How the complaint spread

Study guide “Let’s talk about racism” was published in April as an internal, voluntary resource intended to spark conversation and thought among Salvationists.

The brochure was published by The Salvation Army’s International Commission for Social Justice, which describes itself as a voice for justice for “The world is poor and oppressed.

The controversy surrounding it only gained momentum in November.

The guide was first published by the obscure conservative online outlet Virginia Central Nova News, whose parent company is owned by the founders of the Tea Party movement, according to Columbia Journalism Review. The site is run by people notoriously known for their bogus quotes and politically-oriented writings in their previous efforts, CJR reported.

The Central Nova News article featured the discussion points from the study guide for members as “requests” donors.

The first page of the brochure says, “This discussion guide represents the Salvation Army’s desire for internal dialogue. It is not a position or a policy statement.

“We don’t tell anyone how to think. Period,” Hodder wrote.

The article also claims the guide “Asserts that Christianity is institutionally racist”.

The guide recognizes the existence of racism in the church, but says this sin is contrary to the purpose of the church.

When the article was shared with a Salvation Army Facebook group, the main comments included racist myths and hostility towards people of color.

“People of European descent (sic) must start to wake up” a man wrote.

Another woman wrote that she volunteered for the Salvation Army, but quit when she saw a poster talking about helping refugees. She accused the Salvation Army of pushing “The extinction of the white race”.

When other conservative media picked up on the story – Fox News, The Daily Wire, and Breitbart – the implications of what this study guide was supposed to do became more sensational with each article, ultimately landing on the Marxist dystopia.

The International Commission on Social Justice has since deleted the guide and says it is under “Appropriate review”.

“International Headquarters realized that some aspects of the guide may need to be clarified”, Hodder wrote.

What’s in the Study Guide?

The study guide tells readers to stop denying the existence of a systemic racism that keeps white Americans in power while depriving blacks of their civil rights; confront the white privilege of not being oppressed and not being “colorblind.” The guide says people look different and color blindness ignores the discrimination people of color face.

Readers are encouraged to think inside the possible sins they may harbor. The text asks Salvationists to “Complain, repent and apologize for the prejudices or racist ideologies held and the actions committed.”

Racism, even in small amounts, is, after all, a sin, says The Salvation Army.

This ideology has been dubbed “wake up” by The Daily Wire, but Hodder says tackling racism and discrimination has always been part of the Salvation Army’s Christian mission.

The Salvation Army supports residents with funds

Mortensen said last year was a banner year for the Saranac Lake ringers. Because the coronavirus pandemic made people feel charitable, they made a lot of private donations and raised around $ 30,000.

Mortensen said they were on track to raise about half of that amount this year – but said it was still a high number for the North Country.

“Almost all that money stays here in town”, she said.

The Salvation Army distributes the money locally through voucher writers who respond to requests from those in need and get feedback from regional offices.

Mortensen said they write about seven coupons a month now. These vouchers can be used for things like rent, utilities, fuel oil, medical bills, or new furniture, but they are limited.

She said a voucher can go up to $ 300. After that, she said the organizers would work with the Saranac Lake Ecumenical Council, High Peaks Church, St. Luke’s Episcopal Church or one of the other church groups in town to make up the rest.

In addition, this is a one-off offer per year. Mortensen said they can’t have “Frequent travelers” because that would deplete their warehouses and leave less help to others.

The goal is to help people get through a difficult time, she said.

“We want to help people get out of trouble, not allow them to stay in trouble” said Mortensen.

The red kettle bottoms also help store St. Luke’s food boxes each week.

Mortensen said people should call Salvation Army organizers to request a voucher, or just call the World Council – many council members are ringing the bell, too.

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Kellogg has new tentative deal with striking union workers

Kellogg said Thursday that he had reached a second agreement in principle with a union representing around 1,400 workers at four American grain factories which have been on strike since early October.

The tentative deal, which would cover five years, was announced about a week and a half after workers rejected an earlier deal, prompting the company announce that he was moving forward with the hiring of permanent replacements for striking workers.

Last week, President Biden weighed in on the stalemate, saying in a statement he was “deeply troubled” by the plan for permanent replacement workers, which he called “an existential attack on the union and the jobs and livelihoods of its members “.

Part of the strike revolved around the company’s two-tier compensation system, in which workers hired after 2015 typically receive lower wages and benefits than long-tenured workers. The company said its veteran workers earn more than $ 35 an hour on average, while new workers earn nearly $ 22 an hour on average.

Veteran workers have expressed concern that adding lower paid workers will ultimately lower their wages and benefits as well.

Under the deal that was rejected last week, the company would have immediately converted all employees with at least four years at Kellogg to veteran status, and then converted an amount equivalent to 3% of the workforce at Kellogg. one factory each year of the five-year period. Contract.

The rejected deal would also have given veteran workers a 3 percent pay rise in the first year of the contract and cost-of-living adjustments during the contract. He offered new hires a progression from $ 20 an hour to just over $ 28 after their sixth year.

A spokesperson for the company said by email on Thursday that the new tentative agreement did not change the process for converting new recruits to veteran status, but that it “responds to the union’s request.” ‘Cost of living adjustments for all employees each year of the contract. .

The spokesperson did not say whether Kellogg hired permanent replacement workers.

“We value all of our employees. They have enabled Kellogg to provide food to Americans for over 115 years, ”CEO Steve Cahillane said in a statement. “We hope our employees vote to ratify this contract and return to work.”

The International Bakery, Confectionery, Tobacco and Millers Union, which represents the workers, declined to comment on the details of the deal, but said the union would present the proposal to members over the weekend. and that the votes would be counted by Tuesday.

Earlier this week, Bernie Sanders, the Independent US Senator from Vermont, plans announced to hold a rally Friday on behalf of Kellogg workers in Battle Creek, Michigan, the location of the company’s headquarters and one of the striking grain factories. A spokesperson for Mr Sanders said the trip was still underway.


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20 direct consumer companies hiring in 2022, from Genies to Harry’s

  • DTC brands are facing unprecedented opportunities and new challenges.
  • Insider has highlighted 20 DTC brands people should bet their careers on in 2022.
  • They will face great competition for workers as millions of people have left their jobs this year.

Direct-to-consumer brands continue to see great opportunities – and great challenges.

The competition has become fierce as e-commerce platforms like Shopify have made it easier than ever to launch a brand online. At the same time, changes to consumer privacy policies like those made by Apple this year are making it harder for DTC brands to reach new customers.

But brands like Vuori in sportswear, Nurx in healthcare and Ergatta in connected fitness are gearing up for a big 2022 and growing their teams to do so.

Insider has found 20 of the best DTC brands to bet their careers on in 2022, focusing on companies that are raising venture capital and are currently hiring. To make the list, companies also had to have strong Glassdoor reviews.

Brand CEOs shared their plans for 2022 with Insider, along with what makes their company a great place to work. They will compete for talent, as millions of workers will quit their jobs by 2021, many in search of higher wages, better benefits and working conditions, or whole new opportunities.


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JPMorgan on hiring wave as it targets pan-European consumer bank

A sign outside the offices of JP Morgan Chase & Co. is visible in New York, United States on March 29, 2021. REUTERS / Brendan McDermid

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LONDON, Dec. 14 (Reuters) – Chase, JPMorgan’s UK retail bank (JPM.N), plans to hire hundreds more next year to boost its workforce above 1,000 in order to help roll out investment, savings and consumer credit products, the company’s boss told Reuters.

The fledgling bank – the first overseas consumer bank for US giant JPMorgan – has already processed hundreds of millions of pounds of purchases across more than a million transactions, fueled by spending insanity as it approaches. Christmas, the bank said.

The business is a test for the lender as CEO Jamie Dimon plans to expand his massive U.S. retail banking franchise globally through a digital platform.

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Sanoke Viswanathan, head of international consumer activities at JPMorgan, said the company has hired 200 people since launching in September to increase its workforce to 800, and plans to hire hundreds more next year as ‘it was expanding its range of products.

JPMorgan plans to replicate the Chase model in other continental European markets over the next several years, he said.

“We had a plan and we are definitely ahead,” Viswanathan said. “We want to be present in all major European markets over time, everything is fine. The idea is to be pan-European.”

In Great Britain, the bank plans to expand in investment and savings services by integrating its acquired digital wealth manager Nutmeg, before embarking on consumer loans.

Creating new services will help him turn a profit over time, but Chase is expected to experience losses for several years in the meantime, Viswanathan said.

The new hires will span the entire company, including its headquarters in London and customer support centers in Edinburgh and Manila in the Philippines.

Viswanathan declined to release Chase’s customer numbers, but said registrations exceeded internal expectations and reaffirmed plans for expansion.

JPMorgan was ready to launch a UK retail bank if needed rather than slowing its growth, Viswanathan added. Banks are currently required to manage any retail bank with £ 25 billion or more in deposits on a stand-alone basis, although this rule is under review.

“We will deal with the consequences if we have to,” Viswanathan said. “The UK bank was not created to help fund investment banking. This is a real foray into long-term retail banking.”

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Reporting by Iain Withers; edited by Rachel Armstrong and Jason Neely

Our standards: Thomson Reuters Trust Principles.


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QRCS and JNRCS sign pact to provide medical aid to Syrian refugees in Jordan [EN/AR] – Jordan

December 12, 2021 – Doha: An official delegation from the Qatar Red Crescent Society (QRCS) is visiting Jordan, composed of Ali bin Hassan Al-Hammadi, secretary general, Dr Fawzi Oussedik, responsible for international relations and of international humanitarian law, and Naglaa Al-Hajj, responsible for international development. They are accompanied by Dr Mohamed Al-Sousi, head of the QRCS representative mission in Jordan.

During a visit to the headquarters of the Jordanian Red Crescent Society (JNRCS), Mr. Al-Hammadi signed a cooperation agreement with Ing. Omar Abu-Goura, Vice-President of JNRCS, to launch a prosthesis project for the benefit of Syrian refugees with disabilities in Jordan. The project’s action plan is to provide upper and lower limb prostheses, mobility and accessibility aids, psychological support and physiotherapy for the beneficiaries.

In a statement, Al-Hammadi welcomed the signing of this agreement serving Jordanians and Syrians in Jordan, with its positive role in providing specialized medical services to people in need. He highlighted the strong relationship between Qatar and Jordan, with JNRCS being a strategic partner of QRCS in its humanitarian work in Jordan.

Dr Nehal Hefny, head of the delegation of the International Federation of Red Cross and Red Crescent Societies (IFRC) in Jordan, stressed the importance of the humanitarian partnership with QRCS and JNRCS and considered the signing of the agreement as a response to the humanitarian needs of the most vulnerable groups in Jordan.

During the meeting, Mamdouh Al-Hadid, Deputy Secretary General and Head of Programs / Operations at JNRCS, revealed a new joint surgical program involving 420 surgeries for Syrian refugees and the vulnerable local community. He referred to recent maintenance work at JNRCS Hospital, funded by QRCS and other Movement partners, with the aim of improving the quality of health services provided to patients.

On the second day of the visit, the QRCS delegation attended the Workshop on the Auxiliary Role of National Societies, jointly organized by JNRCS, QRCS and IFRC in Amman, Jordan, under the title “The Concept of Role auxiliary in the literature of the international community Red Cross and Red Crescent Movement ”.

Mr. Al-Hammadi delivered a speech at the workshop, in which he said: “With the increase in the number and scale of disasters and humanitarian crises around the world, the challenges and complexity of the Humanitarian action has also increased in an unprecedented manner. One of the main challenges is the blurred vision of the role of National Societies, which is to support States in their humanitarian, social and development policies / efforts. As a result, National Societies are either seen as politicized and affiliated with government, or subject to work and financial restrictions by local authorities ”.

“National Societies have a unique peculiarity,” explained Mr. Al-Hammadi. “They are global humanitarian organizations, which follow basic principles and rules that govern humanitarian action and ensure its independence, neutrality, dissociation from differences and political prejudices, and focus on people from across the country. whole world “.

He added, “We all believe in these ideals and we stick to them. This is precisely where we differentiate ourselves from other local, regional and international organizations in any other sector. On the other hand, as National Societies, we belong to our own nations, live in their territories and represent them in international humanitarian action and events. It is therefore our duty to respect their laws and public policies, to take their interests into account and to protect their reputation ”.

“So humanitarians are both local and global. They are independent but disciplined and committed. This is what National Societies really are and how they should be understood and treated by outsiders. Therefore, the misconceptions must be corrected, their history and their objectives popularized, their mission facilitated and they made it possible to do their job well ”, concluded Mr. Al-Hammadi.

End of text

About the Qatar Red Crescent Society (QRCS)

Established in 1978, the Qatar Red Crescent Society (QRCS) is a humanitarian volunteer organization that aims to help and empower vulnerable people and communities without bias or discrimination.

QRCS is a member of the International Red Cross and Red Crescent Movement, which includes the International Federation of Red Cross and Red Crescent Societies (IFRC), the International Committee of the Red Cross (ICRC) and 191 National Societies. QRCS is also a member of several GCC organizations, Arab and Islamic, such as the Islamic Committee of the International Crescent and the Arab Organization of the Red Crescent and the Red Cross (ARCO). In this legally recognized capacity, QRCS has access to disaster and conflict areas, thereby serving as an auxiliary to the State of Qatar in its humanitarian efforts – a role that sets it apart from other local charities and NGOs.

QRCS operates both locally and internationally and has international relief and development projects underway in a number of countries across the Middle East, Asia, Africa and Europe. QRCS humanitarian actions include support for disaster preparedness, disaster response, risk reduction and disaster recovery. To mitigate the impact of disasters and improve the livelihoods of affected populations, QRCS provides medical services, health care and social development to local communities. She is also active on the humanitarian advocacy front. With the help of a vast network of trained and committed staff and volunteers, QRCS aspires to improve the lives of vulnerable people by harnessing the power of humanity.

QRCS works under the aegis of the seven international humanitarian principles: humanity, impartiality, neutrality, independence, voluntary service, unity and universality.


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Schafer: The fruits of Honeywell’s long-standing dedication to the quantum computer are now visible

“Someone is sitting in the shade today because someone planted a tree a long time ago,” is a quote from Warren Buffett so famous that consumers continue to search for the perfect holiday gift. can easily find a T-shirt or mug with it.

It’s great if someone feels inspired by this to plant a tree next spring, but Buffett has made a reputation as an investor. He was talking about the value of long-term thinking – how, with patience, a small investment can turn into a huge return.

We keep citing this not because it’s another Buffett gem, but because business executives so easily overlook this lesson.

Things that take a long time to happen aren’t inherently better, but breakthrough products, enduring brands, and major market share don’t just happen in a quarter or two.

This is what is so interesting about Honeywell’s adventure in quantum computing. They are getting it, or at least enough people have done it in its recent history to support its development.

Honeywell International announced in the summer that it would separate its quantum computing unit and merge it with a company in the UK, creating a company controlled by Honeywell called Quantinuum. This new company will hopefully attract investors interested in the emerging quantum computing market. This merger has just ended.

Honeywell International isn’t exactly the same previously Minneapolis-based Honeywell company that older Minnesota residents may remember. But there’s a lot of the old Honeywell DNA in Honeywell International.

The quantum computing business started here in Golden Valley. It wasn’t the kind of business that someone with a short-term thinking, whether it’s next quarter or next year, would even try to try. This company started over ten years ago and Quantinuum has just launched its first commercial product.

As for the potential, the numbers on the potential size of the market suggest something over $ 1 trillion.

And maybe there’s something more to learn about the long horizons of Honeywell’s IT project: how to appreciate the value of corporate legacy.

In a story told by Honeywell over 10 years ago, a new leader of a small business incubator project assessed the knowledge available to Honeywell: advanced capabilities in optics, lasers, cryogenics, ultra-high environments. -empty and, of course, over a century of experience with controls.

Honeywell staff scientists have pointed out that with this portfolio of knowledge and technology, the company could build a quantum computer, said the executive who heads the quantum computing business.

Companies use different approaches to develop quantum computers, but they all promise to be much faster than traditional computers. How it works is beyond my comprehension, except that quantum computing goes beyond traditional computing use of binary bits, represented by a 0 or 1, which store information.

In quantum computing, building blocks are “qubits” that are not binary and can exist in multiple states at the same time.

Some leaders in the segment are completely unknown, such as Rigetti & Co. or Xanadu Quantum Technologies of Canada, which raised $ 100 million this year.

Yet the list of known leaders also includes Microsoft Corp., International Business Machines Corp. (IBM) and Honeywell, founded in 1975, 1911 and 1885 respectively.

It has been more than two decades since Minnesota lost the headquarters of Honeywell, then one of the state’s top business leaders, when it was acquired by AlliedSignal. The head office was first consolidated into the home of AlliedSignal in New Jersey, with Honeywell International now based in North Carolina.

The name Honeywell comes from a founder on the company’s family tree, but William R. Sweatt and his descendants are entrepreneurs who deserve credit for developing Honeywell in Minnesota.

The Minneapolis-Honeywell Regulator Co. was a control company, particularly for regulating heat in homes. Before this type of technology, when homeowners got cold they put more fuel in the stove or furnace and when they got too hot they had to stop adding fuel. Automation that made life so much easier.

Honeywell expanded into other lines of business and at one point became a major player in the US mainframe industry.

This was around the time when the American computer industry was known as IBM and BUNCH, an acronym that referred to IBM’s top five competitors.

The “U” stood for Univac, with a strong presence here in the Twin Cities, and the “C” was for Control Data Corp., based most of its life in Bloomington and possibly IBM’s only real rival during this period. The “H” was for Honeywell, based in Minneapolis.

The rise of this high-tech industry here in Minnesota is a big part of the transformation of the state’s economy. Personal income in Minnesota went from lagging Midwestern neighbors like Wisconsin in the 1940s to overtaking them in the 1960s.

This mainframe era did not last that long and Honeywell left the company completely.

It would be stretching the truth beyond breaking point to suggest that Honeywell’s quantum computing business grew out of the roots of Honeywell’s computing business. Yet it has grown from Honeywell’s vast pool of know-how and broad technology portfolio.

Honeywell now owns 54% of Quantinuum, ready to raise a lot of capital to pursue what appears to be a great opportunity.

Booming profitability remains a long way off and might never happen, but the Honeywell team deserve a lot of credit for taking the first big step.

This happened when they realized that with time and money, maybe they could build a revolutionary machine, and then decided to give it a try.


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International headquarters

The Stevanato group expands its headquarters

Pharmaceutical glass manufacturer Stevanato Group is to expand its head office.

He said the expansion of its headquarters in Piombino Dese, Italy would advance the operations and growth of the company.

The new 6,750 m2 facility should support the optimization of its industrial footprint, with around 2,500 m2 dedicated to increasing the production of high added value products.

In addition to hosting offices, the Italian analytical services site and R&D space, it is also expected to include new glass syringe forming lines intended to boost production of EZ-fill solutions, which are containment solutions. of pre-sterilized drugs that reduce the total cost. of ownership and time to market for pharmaceutical companies.

Franco Moro, CEO of the Stevanato group. “By further expanding our production capacities here at home with this new space, we hope to be able to meet capacity demands while our exciting projects in the United States and China are underway. “

Construction of the new building began in September 2021.

The company plans to install and validate new lines in the second quarter of 2022, and expects industrial production to begin between the end of the second quarter and the start of the third quarter of 2022.


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