Architects Lina Ghotmeh and Asif Khan appointed for two major museums in AlUla, Saudi Arabia

ALULA, Saudi Arabia, May 18, 2023 (GLOBE NEWSWIRE) — The Royal Commission for AlUla (RCU) announces Lina Ghotmeh and Asif Khan as architects for two upcoming museums in its constellation of cultural assets. Ghotmeh will design the contemporary art museum and Khan will design the museum of the Incense Road. Both museums are situated in AlUla, a destination in northwest Arabia with 7,000 years of continuous human history.

Khan, who was awarded a MBE for his services to architecture and is currently working on the renewal of the Barbican Centre and the new London Museum, is known for his radical approach to architecture, which merges history with the future, grounding projects in material experimentation and social context.

Award winning Ghotmeh, who is designing the 2023 Serpentine Pavilion, creates work that sits at the intersection of art, architecture and design. Her practice is developed through a process of thorough historical research, emerging in complete symbiosis with nature as exquisite interventions that enliven memories and the senses.

The architects were chosen through an international competition. The jury comprised of key stakeholders and specialists in architecture, landscape and museology, supported by a technical panel, and was chaired by Dr Khaled Azzam, the architect of AlUla's Journey Through Time Masterplan.

We are excited to announce the appointed architects to these two significant museums "" the first of 15 cultural assets being developed as part of AlUla's Journey Through Time Masterplan. AlUla is a spectacular landscape of discovery, where heritage, works of nature and humankind combine to reveal a long and intimate relationship between people and their environment. This Masterplan will guide the reinvigoration of AlUla establishing a new cultural legacy including the implementation of a circular economy expected to create 38,000 new jobs.

Dr Khaled Azzam "" Architect, Journey Through Time Masterplan, Royal Commission for AlUla

The architecture of the contemporary art museum in AlUla immerses visitors in a creative journey from the desert expanse to the lush cultural oasis of AlUla, interweaving the natural environment, agriculture and art to reveal the heart of contemporary culture. Through a series of garden pavilions, the museum presents a constant interplay between art and nature, capturing the essence of this unique place. The galleries offer surprising and anchored perspectives on the many facets of AlUla, from the microclimates of the oasis to the expanse of the desert, evoking a deep sense of attachment to the land and its heritage.

Lina Ghotmeh, architect, contemporary art museum in AlUla

AlUla resonated with me deeply as did the local community members I met. The design takes the form of a public space, not a museum within walls, situated in AlJadidah village with galleries and spaces for sensory experiences and learning. The mountains are a constant background, whose sand dunes reach down to greet the edges of the museum, while stepped terraces of gardens act as a new interface between the village and the oasis.

I am excited about how the museum of the Incense Road can be brought into the collective memory of the world, and become a transformative asset for the local community.

Asif Khan, architect, museum of the Incense Road

The contemporary art museum in AlUla is a museum of regional and global contemporary art with Arabia at its heart. Offering a core collection of works by artists from regions adjoining the Red Sea, the Arabian Sea and the Eastern Mediterranean in dialogue with their contemporaries from across the world, the collection aims to evolve in partnership with these artists, including a robust programme of commissioned works. As the primary art museum in AlUla, it contributes to the region's legacy as a cultural beacon, generating opportunities for artists, designers, creatives and curators.

An adjoining series of artist–designed gardens will ensure the experience is connected to the landscape in which it sits. Integrated into the distinctive AlUla oasis, set amongst vegetable gardens, palm groves, mountain ranges and an ancient settlement, the museum will explore sensitive environmental design and function as a catalyst for environmental renewal and regeneration of the oasis. It will be structured as an archipelago of pavilion galleries interspersed with a mosaic of artist gardens. Its balance of interior and exterior galleries and gardens will allow visitors to define their own encounters both with art and the natural landscape.

The museum of the Incense Road will be the world's first museum dedicated to this epic and millennia–old network of major land and sea trading routes, celebrating AlUla's cultural legacy as a place of exchange at the confluence of civilisations. Bringing to life global histories, through which ideas, goods and culture were exchanged, it shines a light on north–west Arabia as a cultural epicentre. Living and dynamic narratives will include spotlighting the discoveries of ongoing excavations, highlighting the active nature of AlUla's archaeological sites and the cultural importance of the Incense Road. At the forefront of innovative museum practice, it will enable visitors to engage through layered, multidisciplinary interpretation anchored by carefully curated collections.

The museum of the Incense Road is being developed in dialogue with AlUla's ancient heritage "" including Hegra, Saudi Arabia's first UNESCO World Heritage Site "" and its host village, AlJadidah. It will be an extension of the urban fabric that sits towards the oasis edge, looking out on a vista where Dadan and Hegra "" once vibrant cities that thrived as a result of the Incense Road "" are located. Guided by subject experts and the local community, the museum of the Incense Road will continue to be developed through extensive local and international collaboration with specialists across fields including academia and museology.

Both museums offer a unique entry point into AlUla's rich and extensive cultural offering and will be developed with a socially responsible approach to the preservation, interpretation, meaningful community engagement and presentation of AlUla's cultural inheritance. They will consider how to reduce environmental impact while building meaningful spaces, particularly regarding conservation, controlled temperature, humidity and lighting, and will work with a network of cultural leaders at an institutional, thematic and discipline level in the spirit of reciprocal exchange.

Notes to editors

About AlUla:

Located 1,100 km from Riyadh, in north–west Saudi Arabia, AlUla is a place of extraordinary natural and human heritage. The vast area, covering 22,561km , includes a lush oasis valley, towering sandstone mountains and ancient cultural heritage sites dating back thousands of years to when the Lihyan and Nabataean kingdoms reigned.

The most well–known and recognised site in AlUla is Hegra, Saudi Arabia's first UNESCO World Heritage Site. A 52–hectare ancient city, Hegra was the principal southern city of the Nabataean Kingdom and comprises more than 100 well–preserved tombs with elaborate facades cut out of the sandstone outcrops surrounding the walled urban settlement. Current research also suggests Hegra was the most southern outpost of the Roman Empire after the Nabataeans were conquered in 106 CE.

In addition to Hegra, AlUla is home to fascinating historical and archaeological sites such as Ancient Dadan, the capital of the Dadan and Lihyan Kingdoms, which is considered one of the most developed 1st–millennium BCE cities of the Arabian Peninsula; thousands of ancient rock art sites and inscriptions at Jabal Ikmah; and AlUla Old Town, a labyrinth of more than 900 mudbrick homes developed from at least the 12th century.

About The Royal Commission for AlUla:

The Royal Commission for AlUla (RCU) was established by royal decree in July 2017 to protect and safeguard AlUla, a region of outstanding natural and cultural significance in north–west Saudi Arabia. RCU is embarking on a long–term plan to develop and deliver a sensitive, sustainable transformation of the region, reaffirming it as one of the country's most important archaeological and cultural destinations and preparing it to welcome visitors from around the world. RCU's development work in AlUla encompasses a broad range of initiatives across archaeology, tourism, culture, education and the arts, reflecting the ambitious commitment to cultivate tourism and leisure in Saudi Arabia, outlined in Vision 2030.

Lina Ghotmeh works and lives in Paris, where she leads her multidisciplinary practice Lina Ghotmeh "" Architecture. Her visionary and materially sensitive works emerge in complete symbiosis with their environment while soliciting memory and senses.

Lina Ghotmeh is the nominated Architect for this year's 22nd Serpentine Pavilion and her projects include Ateliers Herms (first low carbon, energy positive building in France) delivered this April 2023, Stone Garden crafted tower and gallery spaces in Beirut (Dezeen Architecture of the year 2021 Prize), the Estonian National Museum (Grand Prix Afex 2016, project she designed in partnership with Dorell.Ghotmeh.Tane), Wonderlab Master crafts exhibition in Tokyo and Beijing & award winning Les Grands Verres restaurants for the Palais de Tokyo, Paris, France.

She is the recipient of multiple awards including the 2020 Schelling Prize, the 2020 Tamayouz "Woman of Outstanding Achievement", the French Fine Arts Academy Cardin Award 2019, the Architecture Academy Dejean 2016 and the French Ministry AJAP Prize in 2008. Her works have been exhibited at the 17th Architecture Biennale in Venice, at the MAXXI in Rome, and currently at the Cooper Hewitt in New York. She is active in Academic life and was Louis I Khan professor at Yale and Gehry Chair at the University of Toronto.

Asif Khan founded his London–based practice in 2007, which designs buildings, landscapes, installations, exhibitions and objects. His work is concerned with sensory experience, craftsmanship, cultural exchange and the merging of history with future worlds.

Asif Khan is currently working on the Barbican Art Centre Renewal, the new London Museum, opening 2026, itself the largest cultural project in Europe, and Liverpool Canning Dock waterfront transformation, a site at the centre of the Transatlantic Slave Trade. In 2020 he completed 6.5km of public realm design of Dubai Expo 2020, where his carbon–fibre Entry Portals received the Dezeen public award 2021 and nomination for the Aga Khan award for Architecture. He received the Grand Prix for Innovation (Cannes 2014) and Architect of the Year (German Design Council 2017).

His works have been exhibited at the Royal Academy of Arts, V&A, Milan Salone, Milan Triennale, Gwangju Design Biennale, the Design Museum, London, London Design Week, Tokyo Design Week, and currently at MAAT Lisbon. He has taught at the Royal College of Art and at Musashino Art University, Tokyo. Khan was awarded an MBE for Services to Architecture in 2017 and currently serves as Vice Chairman of the Design Museum in London.

Press contacts:

Vicky Newark
Pelham Communications
vicky@pelhamcommunications.com

Sherif Elhalafawy
Royal Commission for AlUla
s.elhalafawy@rcu.gov.sa

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e9648d36–fa73–489c–938c–7bb1d439c81e

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

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خبر صحافي

اختيار لينا غوتمة وآصف خان لتصميم وتطوير متحفين في العلا

العلا

18 مايو2023

18مايو2023،العلا


أعلنتالهيئة الملكيةلمحافظة العلا،عن تعيين ليناغوتمة، وآصفخان، كمهندسينمعماريين لمتحفينسيجري تنفيذهماضمن الأصولالثقافية فيمحافظة العلا،وفقا لما حددتهالرؤية التصميميةلمخطط رحلة عبرالزمن، ومن ضمنهذه المراكز،سيتم إنشاء 15مرفقًاثقافيًا جديدًا،بما في ذلك المتاحفوالمعارض ومعالمالجذب السياحي،وستعمل غوتمةعلى تصميم متحف"الفنالمعاصر"بينماسيطور خان متحف"طريقالبخور".

ويأتيإعلان الهيئةالملكية لاختيارالمعماريينللمتحفين فيمحافظة العلا،مع الاحتفالباليوم العالميللمتاحف، والذييوافق يوم الثامنعشر من شهر مايومن كل عام، حيثتعمل الهيئةضمن برنامج"تطويرالعلا"علىأن تصبح العلاأكبر متحف مفتوحفي العالم وتحويلهاإلى وجهة عالميةللفنون والتراثوالثقافة والطبيعة.

ويعدُّقطاعُ الفنونأحدَ القطاعاتالرئيسية فيضوء "رؤيةالعلا"،التي استلهمتمحاور رؤية2030،والركائز الثلاث:"مجتمعحيوي، واقتصادمزدهر، ووطنطموح"،عبر العديد منالمبادرات،التي تم تنفيذعدد منها، إضافةإلى ما تضمنهمخطط "رحلةعبر الزمن"الذييبرزُ مواقعالتراث والطبيعة؛لتعزيز التنميةالمستدامة،باستثمار كلالمقومات المتاحةمن أجل خلق روافداقتصادية متنوعة.

وتماختيار المعماريانعن طريق مسابقةدولية، تكونتمن الأطرافالمعنية الرئيسيةومتخصصين فيالهندسة المعماريةوالمناظر الطبيعيةوعلم المتاحف،مدعومة من لجنةفنية يرأسهاالدكتور خالدعزام، عضو مجلسإدارة الهيئةالملكية لمحافظةالعلا مهندسمخطط رحلة العلاعبر الزمن.

وتعدلينا غوتمة،أحد أبرز المعماريينحيث حصلت علىجوائز عالميةعديدة، وتجمعمختلف أعمالهابين الفن والهندسةالمعماريةوالتصميم.وتطورعملها المعماريفي إطار البحثالتاريخي للمواقع،وإبرازه عبرابتكارات تصميمية تتناغم مع الطبيعة.

ويشتهرآصف خان، الحائزعلى رتبة الإمبراطوريةالبريطانيةفي الهندسةالمعمارية،بأعماله التيتدمج التاريخمع تطورات المستقبل،وتبرز تصاميمهعلى أساس مراعاةالبيئة والسياقالاجتماعيالتاريخي، ويعملحالياً علىتجديد مركزباربيكان ومتحفلندن الجديد.

وسيوفرمتحف "الفنالمعاصر"رحلةإبداعية تنقلالزائر من البيئةالطبيعية إلىواحة العلاالثقافية، فيتداخل بين البيئةالطبيعية وتفاصيلهاوالفن لإظهارمكنون الثقافةالمعاصرة، ويتيحالمتحف تفاعلاًمستمراً بينالفن والطبيعة،ليجسد تفرد بيئةالعلا.

وسيحتفيمتحف "طريقالبخور"الذيسيتم تطويرهبالتراث الثقافيللعلا باعتبارهاملتقى القوافلعلى طريق البخورومن خلال إعادةإحياء صفحاتالتاريخ العالمي،ويسلط الضوءعلى دور شمالغرب المملكةكمركز ثقافيرئيسي والتيتبرز الطبيعةواندماجها فيبيئة العلاالثقافية، ويجريتطوير متحف طريقالبخور من خلالالانسجام بينإرث العلا بمافي ذلك مدينةالحجر التاريخيةوكذلك دادان.

ويوفركلا المتحفينمدخلاً فريداًللاطلاع علىالعروض الثقافيةالثرية في العلا،وسيجري تطويرهمابنهج يراعيالاستدامة كعنصررئيسي في مختلفمشروعات الهيئةالملكية لمحافظةالعلا.

انتهى

GLOBENEWSWIRE (Distribution ID )

Human Rights & Sovereign Debt Restructurings: A Proposal for an Optimal Outcome

UN Secretary-General António Guterres addresses the Opening Ceremony at the 36th ordinary Session of the African Union Assembly in Addis Ababa, Ethiopia. February 2023. On the economic front, Guterres called for more financial support for a continent that is, being hit by a dysfunctional and unfair financial system, inequalities in the availability of resources for the recovery from the COVID-19 pandemic, and a cost-of-living crisis exacerbated by the consequences of the Russian invasion of Ukraine. The financial system, declared the UN chief, routinely denies African countries debt relief, and charges extortionate interest rates, starving them of investment in vital areas, such as health, education, and social protection. Credit: UNECA/Daniel Getachew

By Daniel Bradlow
PRETORIA, South Africa, May 18 2023 – Zambia defaulted on its debt in November 2021 but has not yet reached an agreement with its creditors. Its president recently warned that this situation is hurting its citizens and undermining its democracy because “you cannot eat democracy”.

Given their adverse economic, social, and political impacts, it should be expected that human rights considerations would play an important role in sovereign debt restructurings. Unfortunately, this is not the case, even though all negotiating parties have human rights responsibilities or obligations.

It is unclear why these actors pay so little attention to human rights in the sovereign debt restructuring context. One possibility is that they are not sure how to incorporate human rights into their transactions.

This should not be surprising. It is difficult to understand the causal linkages between a sovereign debt crisis and the deteriorating human rights situation that follows. There can be multiple such linkages and the lines of causation can run in different directions.

Consequently, a human rights consistent debt restructuring will be fact and context specific and will require the parties to understand their role in both creating the situation and in mitigating or eliminating the adverse human rights impacts.

This requires the parties to have a common approach to analysing the debt crisis and its anticipated economic, financial, human rights, environmental, social and governance impacts. Thus, they could benefit from having a mutually acceptable set of principles that incorporates all these issues.

In 2021, I received a grant from the Open Society Initiative for Southern Africa to explore the feasibility of my proposal to establish a DOVE (Debts of Vulnerable Economies) Fund. This fund would buy the debts of sovereigns in distress and state that it would only support sovereign debt restructurings that were consistent with widely accepted international norms and standards.

My work on this project revealed shortcomings with all the existing international standards and led me to develop the DOVE Fund Principles. The principles are based on 20 existing international norms and standards developed by states, international organisations, industry associations and civil society organisations. They can provide a common framework for the negotiations between states and their creditors. They are now set out and explained.

The DOVE Fund Principles

Principle 1: Guiding Norms: Sovereign debt restructurings should be guided by the following 6 norms: Credibility, Responsibility, Good Faith, Optimality, Inclusiveness, and Effectiveness.

Credibility: The Negotiating Parties and the Affected Parties are confident that the restructuring process can produce an Optimal Outcome. The “Negotiating Parties” are the sovereign debtor, its creditors and their advisors. The “Affected Parties” are the residents of the debtor country and those individuals whose savings either directly or indirectly finance the debt being restructured.
Responsibility: The Negotiating Parties seek an agreement that respects their respective economic, financial, environmental, social, human rights and governance obligations and/or responsibilities.
Good Faith: The Negotiating Parties intend to reach an agreement that takes account of all their rights, obligations and responsibilities.
Optimality: The Negotiating Parties seek an “Optimal Outcome”, that addresses the circumstances in which the transaction is being negotiated, the parties’ respective rights, obligations and responsibilities, and offers them the best possible mix of economic, financial, environmental, social, human rights and governance costs and benefits.
Inclusiveness: All creditors can participate in the restructuring process and the Affected Parties are able to make informed decisions about how it will impact them.
Effectiveness: The Negotiating Parties should seek an Optimal Outcome in a timely and efficient manner.

Principle 2: Transparency: The Negotiating Parties and the Affected Parties should have access to the information that they need to make informed decisions regarding the debt restructuring.

The creditors have access to sufficient information that they can make informed decisions about the scope of the sovereign’s debt problems, the options for their resolution and their potential economic, financial, environmental, social, human rights and governance impacts.

The Affected Parties should also have access to sufficient information, subject to appropriate safeguards, that they can make informed decisions about how the restructuring may affect their rights and interests.

The creditors should inform the debtor and the Affected Parties about their environmental, social, and human rights obligations and responsibilities.

Principle 3: Due Diligence: The sovereign debtor and its creditors should each undertake appropriate due diligence before concluding a sovereign debt restructuring process.

The Negotiating Parties should utilize a debt sustainability analysis which credibly determines the sovereign’s debt restructuring needs and their impacts.

Principle 4: Optimal Outcome Assessment: At the earliest feasible moment, the Negotiating Parties should publicly disclose why they expect their restructuring agreement to result in an Optimal Outcome.

An Optimal Outcome requires the Negotiating Parties to assess the expected impacts of their proposed agreement on the economic, financial, environmental, social, human rights and governance condition of the sovereign borrower and the Affected Parties.

Principle 5: Monitoring: The restructuring process should incorporate credible mechanisms for monitoring the implementation of the restructuring agreement.

The Negotiating Parties should audit the financial aspects of the agreement and monitor its economic, social, environmental, human rights and governance impacts. This information should be published periodically.

Principle 6: Inter-Creditor Comparability: The restructuring process should ensure that all creditors make a comparable contribution to the restructuring of the sovereign’s debt.

The process should give creditors the confidence that all other creditors are making comparable contributions to an Optimal Outcome.

Principle 7: Fair Burden Sharing: An Optimal Outcome should share the burden of the restructuring fairly between Negotiating Parties and should not impose undue costs on any of the Affected Parties.

Both the debtor and the creditor bear some responsibility for causing debt crises and should absorb some of the restructuring costs. Moreover, they should seek to limit how much of the restructuring costs the Affected Parties will have to bear, considering their relative wealth and ability to absorb losses.

Principle 8: Maintaining Market Access: The restructuring agreement, to the greatest extent possible, should be designed to facilitate future market access for the borrower.

It is an unfortunate reality that debtor countries must seek financing from international financial markets. Thus, the Optimal Outcome should help the debtor regain access to financial markets as quickly as possible.

As the Zambian case demonstrates, the current arrangements for restructuring sovereign debt are sub-optimal. The DOVE Fund Principles seek to overcome this problem by offering both Negotiating and Affected Parties a common conceptual framework that facilitates a fair resolution of the crisis incorporating all its social, environmental, human rights, economic, financial and governance impacts.

They therefore can promote an Optimal Outcome.

Daniel D. Bradlow, Professor/Senior Research Fellow, Centre for the Advancement of Scholarship, University of Pretoria, South Africa
SSRN Author Home Page
www.chr.up.ac.za

For further information on this ongoing project, contact: danny.bradlow@up.ac.za
Business and Human Rights Journal articles for further reading:
1) “Social Bonds for Sustainable Development: A Human Rights Perspective on Impact Investing” Stephen Kim PARK Journal: Business and Human Rights Journal / Volume 3 / Issue 2 / July 2018 pp. 233-255
2) The Record of International Financial Institutions on Business and Human Rights
Jessica EVANS Journal: Business and Human Rights Journal / Volume 1 / Issue 2 / July 2016

IPS UN Bureau

 


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Government Financing for Mayan Train Violates Socio-environmental Standards

Carrying the Mayan flag, members of the Colibrí Collective lead a march against the Mayan Train in the city of Valladolid, in the southern Mexican state of Yucatán, in May 2023. The construction of the Mexican government’s most important megaproject has drawn criticism from affected communities due to its environmental, social and cultural effects. CREDIT: Arturo Contreras / Pie de Página - Mexico’s development banks have violated their own socio-environmental standards while granting loans for the construction of the Mayan Train (TM), the flagship project of the presidency of Andrés Manuel López Obrador

Carrying the Mayan flag, members of the Colibrí Collective lead a march against the Mayan Train in the city of Valladolid, in the southern Mexican state of Yucatán, in May 2023. The construction of the Mexican government’s most important megaproject has drawn criticism from affected communities due to its environmental, social and cultural effects. CREDIT: Arturo Contreras / Pie de Página

By Emilio Godoy
MEXICO CITY, May 18 2023 – Mexico’s development banks have violated their own socio-environmental standards while granting loans for the construction of the Mayan Train (TM), the flagship project of the presidency of Andrés Manuel López Obrador.

The National Bank of Public Works and Services (Banobras), the Nacional Financiera (Nafin) bank and the Foreign Commerce Bank (Bancomext) allocated at least 564 million dollars to the railway line since 2021, according to the yearbooks and statements of the three state entities.

Banobras, which finances infrastructure and public services, granted 480.83 million dollars for the project in the Yucatan peninsula; Nafin, which extends loans and guarantees to public and private works, allocated 81 million; and Bancomext, which provides financing to export and import companies and other strategic sectors, granted 2.91 million.

Bancomext and Banobras did not evaluate the credit, while Nafin classified the information as “confidential”, even though it involves public funds, according to each institution’s response to IPS’ requests for public information.“(The banks) are committing internal violations of their own provisions in the granting of credits, in order to give loans to projects that are not environmentally viable and that do not respect the local communities.” — Gustavo Alanís

The three institutions have environmental and social risk management systems that include lists of activities that are to be excluded from financing.

In the case of Bancomext and Nafin, these rules are mandatory during the credit granting process, while Banobras explains that its objective is to verify that the loans evaluated are compatible with the bank’s environmental and social commitments.

Bancomext prohibits 19 types of financing; Banobras, 17; and Nafin, 18. The three institutions all veto “production or activities that place in jeopardy lands that are owned by indigenous peoples or have been claimed by adjudication, without the full documented consent of said peoples.”

Likewise, Banobras and Nafin must not support “projects that imply violations of national and international conventions and treaties regarding the indigenous population and native peoples.”

The three entities already had information to evaluate the railway project, since the Superior Audit of the Federation, the state comptroller, had already pointed to shortcomings in the indigenous consultation process and in the assessment of social risks, in the 2019 Report on the Results of the Superior Audit of the Public Account.

The total cost of the TM has already exceeded 15 billion dollars, 70 percent above what was initially planned, mostly borne by the government’s National Fund for Tourism Promotion (Fonatur), responsible for the megaproject.

 

Mexico’s three state development banks are partially financing the Mayan Train, for which they have failed to comply with the due process of the evaluation of socio-environmental risks that are part of their regulations. The photo shows the clearing of part of the route of one of the branches of the railway line in the municipality of Playa del Carmen, in the southeastern state of Quintana Roo, in March 2022. CREDIT: Emilio Godoy / IPS

Mexico’s three state development banks are partially financing the Mayan Train, for which they have failed to comply with the due process of the evaluation of socio-environmental risks that are part of their regulations. The photo shows the clearing of part of the route of one of the branches of the railway line in the municipality of Playa del Carmen, in the southeastern state of Quintana Roo, in March 2022. CREDIT: Emilio Godoy / IPS

 

Violations

Angel Sulub, a Mayan indigenous member of the U kúuchil k Ch’i’ibalo’on Community Center, criticized the policies applied and the disrespect for the safeguards regulated by the state financial entities themselves.

“This shows us, once again, that there is a violation of our right to life, and there has not been at any moment in the process, from planning to execution, a will to respect the rights of the peoples,” he told IPS from the Felipe Carrillo Port, in the southeastern state of Quintana Roo, where one of the TM stations will be located.

Sulub, who is also a poet, described the consultation as a “sham”. “Respect for the consultation was violated in all cases, an adequate consultation was not carried out. They did not comply with the minimum information, it was not a prior consultation, nor was it culturally appropriate,” he argued.

In December 2019, the government National Institute of Indigenous Peoples (INPI) organized a consultation with indigenous groups in the region that the Mexican office of the United Nations High Commissioner for Human Rights questioned for non-compliance with international standards.

Official data indicates that some 17 million native people live in Mexico, belonging to 69 different peoples and representing 13 percent of the total population.

INPI initially anticipated a population of 1.5 million indigenous people to consult about the TM in 1,331 communities. But that total was reduced to 1.32 million, with no official explanation for the 12 percent decrease. The population in the project’s area of ​​influence totaled 3.57 million in 2019, according to the Superior Audit report.

The conduct of the three financial institutions reflects the level of compliance with the president’s plans, as has happened with other state agencies that have refused to create hurdles for the railway, work on which began in 2020 and which will have seven routes.

The Mayan Train, run by Fonatur and backed by public funds, will stretch some 1,500 kilometers through 78 municipalities in the states of Campeche, Quintana Roo and Yucatán, within the peninsula, as well as the neighboring states of Chiapas and Tabasco. It will have 21 stations and 14 other stops.

The Yucatan peninsula is home to the second largest jungle in Latin America, after the Amazon, and is notable for its fragile biodiversity. In this territory, furthermore, to speak of the population is to speak of the Mayans, because in a high number of municipalities they are a majority and 44 percent of the total are Mayan-speaking.

The government promotes the megaproject, whose locomotives will transport thousands of tourists and cargo, such as transgenic soybeans, palm oil and pork – key economic activities in the area – as an engine for socioeconomic development in the southeast of the country.

It argues that it will create jobs, boost tourism beyond the traditional attractions and energize the regional economy, which has sparked polarizing controversies between its supporters and critics.

The railway faces complaints of deforestation, pollution, environmental damage and human rights violations, but these have not managed to stop the project from going forward.

In November 2022, López Obrador, who wants at all costs for the locomotives to start running in December of this year, classified the TM as a “priority project” through a presidential decree, which facilitates the issuing of environmental permits.

Gustavo Alanís, executive director of the non-governmental Mexican Center for Environmental Law, questioned the way the development banks are proceeding.

“They are committing internal violations of their own provisions in the granting of credits, in order to give loans to projects that are not environmentally viable and that do not respect the local communities. They are not complying with their own internal guidelines and requirements regarding the environment and indigenous peoples in the granting of credits,” he told IPS.

 

Groups opposed to the Mayan Train protest along a segment of the megaproject in the municipality of Carrillo Puerto, in the southeastern state of Quintana Roo, on May 3. CREDIT: Arturo Contreras / Pie de Página

Groups opposed to the Mayan Train protest along a segment of the megaproject in the municipality of Carrillo Puerto, in the southeastern state of Quintana Roo, on May 3. CREDIT: Arturo Contreras / Pie de Página

 

Trendy guidelines

In the last decade, socio-environmental standards have gained relevance for the promotion of sustainable works and their consequent financing that respects ecosystems and the rights of affected communities, such as those located along the railway.

Although the three Mexican development banks have such guidelines, they have not joined the largest global initiatives in this field.

None of them form part of the Equator Principles, a set of 10 criteria established in 2003 and adopted by 138 financial institutions from 38 countries, and which define their environmental, social and corporate governance.

Nor are they part of the Principles for Responsible Banking, of the United Nations Environment Program Finance Initiative, announced in 2019 and which have already been adopted by 324 financial and insurance institutions from more than 50 nations.

These standards address the impact of projects; sustainable client and user practices; consultation and participation of stakeholders; governance and institutional culture; as well as transparency and corporate responsibility.

Of the three Mexican development banks, only Banobras has a mechanism for complaints, which has not received any about its loans, including the railway project.

In this regard, Sulub questioned the different ways to guarantee indigenous rights in this and other large infrastructure projects.

“The legal fight against the railway and other megaprojects has shown us in recent years that, as peoples, we do not have effective access to justice either, even though we have clearly demonstrated violations of our rights. Although it is a good thing that companies and banks have these guidelines and that they comply with them, we do not have effective mechanisms for enforcement,” he complained.

In Sulub’s words, this leads to a breaching of the power of indigenous people to decide on their own ways of life, since the government does not abide by judicial decisions, which in his view is further evidence of an exclusionary political system.

For his part, Alanís warned of the banks’ complicity in the damage reported and the consequent risk of legal liability if the alleged irregularities are not resolved.

“If not, they must pay the consequences and hold accountable those who do not follow internal policies. The international banks have inspection panels, to receive complaints when the bank does not follow its own policies,” he stated.

Interview with Anniwaa Buachie – The Making of a Ghanaian Short Film

Scenes from Moon Over Aburi. Credit: courtesy of the film.

By SWAN
PARIS, May 18 2023 – Some movie scenes keep replaying in one’s mind long after one has left the cinema, and this is certainly true of Moon Over Aburi, a short film shot in Ghana that has been gaining accolades since its release earlier this year.

Based on a story by the prize-winning Ghanaian-Jamaican writer and poet Kwame Dawes, the film addresses subjects such as sexual abuse, society’s view of women’s roles, and the gender-based perspectives from which experiences are recalled and retold. It will have a special screening this month at the prestigious Calabash International Literary Festival in Jamaica (May 26-28), and while viewers can expect to be moved by the whole story, they will be haunted by one stunning, unexpected scene.

In its minimalist mise-en-scène, Moon Over Aburi is reminiscent of a play, with two main actors in the spotlight, or rather the moonlight, playing off each other – Ghanaian-British actress Anniwaa Buachie and her Ghanaian compatriot Brian Angels (whose credits include the 2015 feature Beasts of No Nation, starring Idris Elba).

Buachie plays a mysterious woman, the owner of a small food kiosk who seems tied to something in her past. Angels plays the man who visits the kiosk on a moonlit night and asks for a meal. As the two exchange cryptic words and stories, it becomes clear that the man knows more about her than he lets on, and the colossal secret she carries is gradually revealed, as enigmatic shots of the full moon emphasise the mystique.

Anniwaa Buachie. Credit: Courtesy of the film.

Buachie, who produced the film and co-directed (with Sheila Nortley), has a background in both cinema and theatre, having performed at London’s Old Vic and other venues. She has also appeared in guest roles in popular television series such as Eastenders. But making Moon Over Aburi was not a shoo-in for her, she says. She and her team had to overcome certain obstacles for the work to see the light of day – because in a world where the number of films seems to be ever growing, only a selected few filmmakers acquire the resources to pursue their art.

In the following, edited, interview, Buachie speaks with SWAN about the film’s journey to the screen.

SWAN: Moon Over Aburi is a shocking, thought-provoking film that is beautifully made. How did it come about?

Anniwaa Buachie: As an actor, I provided the voice of the audiobook in the anthology Accra Noir, edited by Nana Ama Danquah [and published by New York-based publisher Akashic Books]. I fell in love with the story Moon Over Aburi by Kwame Dawes.

I remember when I started reading this story, I immediately had goose bumps. The story was honest, visceral, poetic, chilling… a dance of cat and mouse between two people, a man and woman, secret and lies, making one question whether two wrongs can make a right.

It sat with me, it was in my heart, my mind, my body. I had never read a story that highlighted the vicious cycle of domestic violence, but also explored how a woman ruthlessly and unapologetically takes back her power.

Society tends to excuse the faults of a man and blame the women in that man’s life. The woman who raised him, the woman who married him, the woman who rejected him. Power is given to a woman to birth and nurture a child, yet it is taken from her as soon as she seeks equality, acknowledgement, and respect. It is a story that pushes the brutal subject matter of domestic violence into the light, a much-needed conversation that often lies in the shadow, swept under the carpet. I had to bring this story to light.

SWAN: What were some of the challenges in adapting the short story to suit the demands of a different medium, film?

A.B.: Kwame Dawes’ writing is beautiful, lyrical and poetic, and it was important to me to ensure that the film produced stayed true to the mystical element of the original.

Many stories are written in the first person, and the reader already is biased as they often

attach themselves to the main narrator / protagonist. However, with Moon Over Aburi, Kwame had already written it in a dialogue format. The story was a script in the first instance, so adapting it to film was a joy, to be honest.

What was tricky was deciding how much detail to pack from a 20-page short story into a 10-page script. The world that Kwame had created was so intricate, intimate through words, and heavily reliant on the reader’s interpretation. However, with a screenplay, you have to make definitive decisions and find ways to utilise camera shots, sounds, and the colour palette to influence the viewer’s perspective.

Film also demands a particular structure that a short story can forego. Screenplays require scenes that establish each character and a clear breaking point in the middle of the script that take characters to the emotional extreme – into fight or flight mode. The audience needs to be taken on an emotional ride, and this is influenced by the whole creative team: producer, director, cinematographer, etc.

Personally, it was a challenge for me to maintain a balance between being an actor and being the producer, and co-directing.

The actor inside me wanted to play forever and fully immerse myself in the character. However, there was a part of my brain that, as the producer, always had to be focused on the practicalities, thinking about if the budget is being used effectively, if everyone is happy on set, if cast and crew have been fed and have what they need to maintain a high quality!

Also, once a film project is done, an actor can switch off and think about their next project, whereas the role of the filmmaker doesn’t stop there – now it’s about implementing, marketing, sourcing additional finance, distribution. Good thing I am a great multi-tasker!

SWAN: The shots of the landscape, the moon, and the setting overall, are artistic and evocative. Can you tell us more about the photography and where it took place?

A.B.: The story takes place in the Aburi, the eastern region of Ghana, and in Accra, the main city. Whilst the story leaves room for the imagination, I am so thankful to Ghanaian-based cinematographer extraordinaire Apag Annankra of Apag Studios and art director Godwin Sunday Ashong. Their knowledge of the neighbourhood and the scenery enabled us to find places within Aburi and Accra that provide a magical realism.

A.B.: It is important to me, as an artist, to present situations that encourage conversations, a reflection of self and to identify how one contributes or blocks the development of girls and women. The best teaching is when the viewer has space for analysis themselves, as opposed to being force fed an opinion.

I simply ensure that the films I produce have in-depth perspectives, of extreme impactful situations, drawing the viewer in on an emotional, human level.

SWAN: What are some of the difficulties in making a film without major studio backing, and are things changing?

A.B.: Budget. A studio-backed film would have a large budget and with that the creative team has space to make mistakes, to experiment, to spend hours on a scene taking multiple shots. With a big budget you can secure your ideal location, block off streets and build a set if needs be, to get the right look for the film.

Whereas when you are working on an independent or a low budget, everything you do has to be specific, and with the right intention, because the repercussions are greater. Planning is key, and ensuring everyone in the crew and cast understands the overall vision of the film is important. There cannot be a weak link, everyone needs to work together to bring their A-game. You cannot go back and re-shoot, money is tight, which also means time is limited. You just have one chance to make sure you get the right shots, the right lighting, etc.

I do think things are changing but not quickly enough. Independent filmmaking is an art that is not given the same respect as the big studio movies and TV. Which is a shame, because independents are a great way to platform new and upcoming talent and inject society with stories that are often forgotten, hidden, or discarded. But nowadays the art of filmmaking is more about the return on investment, and for that reason independent filmmaking is always a risk, but that is what makes it exhilarating and rewarding… if you make people’s heads turn in an age where attention is so competitive, you know you have something really special.

SWAN: What do you hope viewers will take away from Moon?

A.B.: This film focuses on giving attention to overlooked narratives, concerning social issues such as: gender-based violence, misogyny and gender inequality, which shroud many cultures. It will open doors to a diverse audience offering intelligent insight into the social and political consciousness of the invisible and the marginalised. While this story is in a fiction anthology, it is a reality that most women face. Through the screenings, I am hoping viewers can identify how cultural constructs contribute to the way in which women are viewed, and how this can change, how this MUST change and, ultimately, that it’s down to us, the new generation to take control and rewrite the social narrative. A narrative that allows us, me, as a woman, to learn from the present, and construct a future that uplifts gender equality, suppresses elitism, and eradicates poverty. This is the foundation of social cohesion and the start of a new African legacy.

SWAN: What’s next for you?

A.B.: Kwame and I are touring with this short in many film festivals in the UK, Ghana, and the States as well, developing Moon Over Aburi into a full feature and exploring production companies and talent. Personally, I have my show coming out on the BBC (teen drama Phoenix Rise), and I have a couple other things in the works that I can’t announce yet, but it’s an exciting time! – SWAN

 

Europe Sells to Africa and Asia 90% of Its Used Clothes, Textiles Waste

“As reuse and recycling capacities in Europe are limited, a large share of used textiles collected in the EU is traded and exported to Africa and Asia, and their fate is highly uncertain,” says the European Environmental Agency. Credit: Shutterstock.

“As reuse and recycling capacities in Europe are limited, a large share of used textiles collected in the EU is traded and exported to Africa and Asia, and their fate is highly uncertain,” says the European Environmental Agency. Credit: Shutterstock.

By Baher Kamal
ROME, May 18 2023 – Once the money-making businesses have turned Asia and Africa into their low-cost factories, to produce and market at higher prices their clothes and footwear, obtaining more profits by selling to these two continents around 90% of all their used and textiles waste.

Not only: such a business alleviates the harsh environmental impacts of the lucrative clothing and fashion industry, and the cost of recycling and eliminating the leftovers of these products.

Textile consumption causes the third largest land use and water use in the value chain, and the fifth largest material resource use and greenhouse gas emissions. Also, textiles cause pressures and impacts from their chemicals on the environment and climate

Just know that textiles are on average “the fourth-highest source of pressure on the environment and climate change from a European consumption perspective,” the European Environment Agency (EEA) on 26 April 2023 reported.

Consequently, “Europe faces major challenges managing used textiles, including textiles waste.”

 

Europe exports much more than textile waste

Lars Mortensen, EEA expert on circular economy, confirms that textile production and consumption in the European Union have significant impacts on the environment and climate.

“Textile consumption causes the third largest land use and water use in the value chain, and the fifth largest material resource use and greenhouse gas emissions. Also, textiles cause pressures and impacts from their chemicals on the environment and climate”.

 

The poisoning plastic

A 27 January 2023 EEA briefing focusses on another big problem: plastic.

“Plastic-based — or ‘synthetic’— textiles are woven into daily lives in Europe, in the clothes we wear, the towels and the bed sheets, in the carpets, curtains and cushions. And they are in safety belts, car tyres, workwear and sportswear.”

Synthetic textile fibres are produced from fossil fuel resources, such as oil and natural gas, the briefing goes on, adding that their production, consumption and related waste handling generate greenhouse gas emissions, use non-renewable resources and can release microplastics.

EU consumers discard about 5.8 million tonnes of textiles annually – around 11 kg per person – of which about two-thirds consist of synthetic fibres, according to the briefing.

“In Europe, about one-third of textile waste is collected separately, and a large part is exported.”

Africa and Asia are therefore the largest destinations of these toxic fibres.

Simply put: by exporting European used clothes and textiles waste, their impacts necessarily fall on the shoulders of Africans and Asians.

 

A highly uncertain fate

Indeed, “as reuse and recycling capacities in Europe are limited, a large share of used textiles collected in the EU is traded and exported to Africa and Asia, and their fate is highly uncertain,” says the European Environmental Agency.

In fact, throughout the past two decades, Africa has been the main continent receiving used textiles from the European Union (EU), importing more than 60% of EU exports.

But while in 2000 Asia received only 26% of EU exports, by 2019 it had significantly increased its share to 41% of EU imports. This is almost equal to Africa, which still imported 46% of EU exports.

 

Where do second-hand clothes end up?

In the African countries studied, the EEA report says that the import of used textiles seems to be mainly meant for local reuse. This is because there is a demand for cheap, used clothes from Europe, which seem to be preferred to new items.

“What is not fit for reuse mostly ends up in open landfills and informal waste streams.”

In Asia, however, most of the used textiles are imported to so-called economic zones where they are sorted and processed. In the countries studied for this briefing, import for local reuse is restricted.

Instead, used textiles seem to be recycled locally, mostly downcycled into industrial rags or filling, or re-exported either for recycling in other Asian countries or reuse in Africa.

“Textiles that cannot be recycled or re-exported are likely to end up in the general waste management system, most of which is landfilling.”

 

The big figures…

According to this European Union (EU)’s agency that ‘delivers knowledge and data to support Europe’s environment and climate goals’:

  • The amount of used textiles exported from the EU has tripled over the last two decades from slightly over 550,000 tonnes in 2000 to almost 1.7 million tonnes in 2019.
  • The fate of used textiles exported from the EU is highly uncertain. The perception of used clothing donations as generous gifts to people in need does not fully match reality,
  • Used clothing is increasingly part of a specialised and traded global commodity value chain,
  • In 2019, 46% of used textiles ended up in Africa: Imported, used textiles on this continent primarily go towards local reuse as there is a demand for cheap, used clothes from Europe. What is not fit for reuse mostly ends up in open landfills and informal waste streams,
  • In 2019, 41% of used textiles ended up in Asia. Most used textiles on this continent are imported to dedicated economic zones where they are sorted and processed,
  • The used textiles are mostly downcycled into industrial rags or filling, or re-exported for recycling in other Asian countries or for reuse in Africa. Textiles that cannot be recycled or re-exported are likely to end up in landfills.

 

… The big exporting hubs

“Some EU countries, such as Germany, Poland and the Netherlands, have exported more than others and seem to have acted as import-export hubs for used textiles from the EU.”

There is no clear reason explaining why five out of 27 EU Member States and the United Kingdom account for around 75% of all EU used textile exports, adds the EEA.

Therefore, it is likely that the largest exporters have been sending used textiles abroad, collected locally and from other EU countries, says the European agency.

Thus, another reason for the concentration of exports in a few EU countries could be that these large exporting countries are acting as export hubs.

“In other words, they are importing used textiles from other EU Member States for re-export beyond the EU. Ports/harbours for international shipment in some of these countries make them logical export hubs.”

Belgium, Italy and the Netherlands have large export harbours.

 

… and the big increase

EU used textile exports have grown significantly over the last two decades, the EEA reports, explaining that exports of textile waste outside the EU have been steadily increasing to reach 1.4 million tonnes in 2020.

Still, another problem appears: how to avoid that waste streams are falsely labelled as second-hand goods when exported from the EU and in this way escape the waste regime?

EU used textile exports are characterised by a lot of uncertainty, adds the EEA. First, there is uncertainty around the types of textiles exported as well as their quality.

In other words, it says, if used textiles exported from the EU are of too low quality to be reused, or are not reused for very long or do not replace new clothing purchases, they may not really replace new production or benefit the environment.

“Instead, the exports will only lead to more textiles ending up in landfills.”

ROSEN, NATIONAL TRIAL LAWYERS, Encourages TAL Education Group Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – TAL

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depositary Shares ("ADSs") of TAL Education Group (NYSE: TAL) between June 14, 2022 and March 14, 2023, both dates inclusive (the "Class Period"), of the important May 30, 2023 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased TAL securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the class action, go to https://rosenlegal.com/submit–form/?case_id=3137 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 30, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) TAL was still providing K9 Academic AST Services; and (2) as a result, defendants' statements about TAL's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the TAL class action, go to https://rosenlegal.com/submit–form/?case_id=3137 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8841954)

ROSEN, NATIONAL TRIAL COUNSEL, Encourages Telephone and Data Systems, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – TDS, TDSPrU, TDSPrV

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Telephone and Data Systems, Inc. (the "Company" or "TDS") (NYSE: TDS, TDSPrU, TDSPrV) between May 6, 2022 and November 3, 2022, both dates inclusive (the "Class Period"), of the important July 3, 2023 lead plaintiff deadline.

SO WHAT: If you purchased TDS securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the TDS class action, go to https://rosenlegal.com/submit–form/?case_id=15807 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 3, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the Company and its subsidiary, United States Cellular Corporation (“UScellular”), made false and/or misleading statements and/or failed to disclose that: (1) defendants had no reason to believe UScellular's "free upgrade" promotional activity, which was tested and trialed during the second quarter of 2022, was effective at reducing the Company's postpaid churn rate as they represented to investors, as opposed to merely adding new postpaid subscribers, when its churn rate was actually increasing or remaining constant over most quarters in the class period; (2) UScellular was not making progress with respect to its churn rate, as it represented to investors; (3) UScellular was not in fact balancing its promotional activity and its profitability; (4) due to extreme competition among postpaid carriers, UScellular did not have the flexibility to offset the costs from widespread, expensive promotions with price increases; and (5) as a result of the Companies' decision for UScellular to continue engaging in heavy promotions to address its postpaid subscriber churn rate despite any lack of positive impact on churn rate, UScellular's profitability substantially declined. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the TDS class action, go to https://rosenlegal.com/submit–form/?case_id=15807 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8841786)

Chairman of Avia Solutions Group Gediminas Ziemelis: 10 big challenges for passenger aviation sustainability for the next 3 years

DUBLIN, Ireland, May 17, 2023 (GLOBE NEWSWIRE) — Ensuring sustainable operations has become a primary driver for aviation businesses in recent years. Nonetheless, this dynamic industry faces a multitude of challenges that can impede companies' efforts to enhance profitability. While several factors contribute to the aviation industry's struggles, certain key issues merit highlighting as primary culprits.

High market $ interest rates for heavily leveraged and drowning–in–debt airlines will be even higher

In recent years, the aviation industry has experienced a significant drop in demand for air travel, resulting in many airlines facing financial losses. To stay afloat during this time, airlines have taken on additional debt. However, this increased debt has resulted in higher risk for lenders, leading to higher market interest rates for the airlines.

In addition to the impact of the pandemic on the industry, other factors such as rising fuel costs and increased competition have also contributed to the financial struggles of many airlines. These factors have made it increasingly challenging for heavily leveraged airlines to generate profits and pay off their debt, leading to concerns about the sustainability of their business models.

The combination of these factors has led to a situation where heavily indebted airlines are now facing even higher market interest rates, which can exacerbate their financial difficulties.

Much higher insurance costs "" worsening war risks could push insurance premiums higher

The aviation industry is grappling with rising insurance costs due to worsening geopolitical risks. This is highly influenced by the fact that, as stated by leading insurance companies, around 500 aircraft leased to Russian operators remain trapped in Russia. Insurers are facing potential liability issues due to the uncertain situation created by the Russian government's refusal to release the aircraft.

As a result, insurers are struggling to assess the level of risk involved, leading to a wide range of potential losses estimated to be up to $30 billion, according to industry sources. This uncertainty is likely to drive up insurance premiums for airlines, impacting the industry as a whole.

Passengers will remember compensations for flight delays, and it will impact airlines' unplanned costs

The EU regulation 261/2004 provides compensation for passengers who experience delays, cancellations, overbooking, or denied boarding. Depending on the specific circumstances and subject to certain conditions, affected passengers may be eligible for a compensation claim ranging from 250 to 600 per person. Before the COVID–19 pandemic, the rate of flight delays in the EU that fell under compensation was 1.5% of all flights, with an average compensation amount of 375 per delayed flight.

In 2019, EU airlines carried a total of 1.12 billion passengers, with 1.7 million flights experiencing delays and resulting in a total compensation pay–out of 6.3 billion. Only 10% of affected passengers currently file complaints directly with the airlines or via specialised service companies, such as Skycop or Airhelp.

However, this number is expected to increase significantly, as after COVID–19 the industry faces capacity shortages and other challenges. As a result, the number of claimable flights that experience delays could increase from 1.5% to 5%, potentially leading to a total compensation pay–out of 20 billion.

LEAP engines challenges will impact more aircraft on the ground and shortage of capacity;

According to our internal research, presently, the aviation industry operates a fleet of 1397 A320neo aircraft with LEAP–1A engines, totalling 3080 engines with an average of 2.2 engines per aircraft, and 1043 Boeing 737 MAX aircraft with LEAP–1B engines, totalling 2338 engines with an average of 2.2 engines per aircraft. To maintain these engines, there are 21 locations globally for LEAP–1A overhaul and maintenance and 22 locations for LEAP–1B engines.

However, the grounding of 16,000 aircraft (equivalent to 60% of the total fleet) in 2020–2021 has led to a staggering 60% postponement of LEAP engine maintenance. Consequently, there is now a significant maintenance gap across 43 locations, resulting in wait times of 9–10 months for engine maintenance, which could potentially disrupt airline operations.

OEM production and supply chain disrupted during 2023–2025 will cause a shortage of aircraft capacity;

The COVID–19 pandemic has had a profound impact on the aerospace industry. Original Equipment Manufacturers (OEMs) such as Boeing and Airbus have experienced significant disruptions in their production and supply chains. In response to the global economic slowdown and reduced demand for air travel, OEMs have cut their production levels by around half compared to pre–COVID levels. However, this has led to a shortage of aircraft capacity, which is hindering the industry's recovery efforts.

The production cuts have affected over 5,000 suppliers in the supply chain, all of whom have had to reduce their volumes during the pandemic. Consequently, the recovery of the aerospace industry is projected to take 2.5–4 years to return to pre–COVID production levels. This prolonged period of disruption is likely to have significant consequences for the industry and its stakeholders.

In 2020–2021, the cancellation of pilot cadet programs and planned retirements caused a pilot shortage in 2023–2024 and a rapid increase in costs for airlines;

The aviation industry faces a constant demand for new pilots, as approximately 3% of pilots retire annually. However, the COVID–19 pandemic has caused a major setback in the industry, with all cadet programs being either postponed or cancelled.

Hence, there is now a significant pilot shortage issue, leading to rapid cost increases. It is estimated that industry will experience a shortage of 300,000 pilots within a decade. This shortage is expected to create significant challenges, particularly in India, which is anticipated to have the largest pilot shortage.

Challenges to book MRO slots after COVID–19, because scheduled maintenance events were postponed

Another issue caused by the COVID–19 pandemic is a significant accumulation of MRO services for aircraft worldwide. As a result of the unprecedented reduction in air travel and the grounding of many aircraft, scheduled maintenance was delayed or deferred.

Nonetheless, as air travel demand begins to recover and airlines return to full operations, the challenge of booking MRO slots to perform necessary maintenance on these aircraft has emerged. Many airlines are finding that MRO facilities are already operating at full capacity, resulting in long wait times and potential disruptions to airline operations. This accumulation of maintenance is expected to persist for some time, creating obstacles to the aviation industry's recovery efforts.

Challenge to find engines maintenance slots for V2500, and RR engines due to deferred maintenance

Airlines that operate aircraft with V2500 and RR engines are also encountering difficulties in scheduling maintenance for their engines due to high demand and limited availability. This has created a challenging situation, particularly for airlines with large fleets of such aircraft.

The lack of available maintenance slots has forced airlines to ground some of their aircraft, leading to operational disruptions and revenue losses. In addition to the financial impact, the situation also poses safety concerns as delayed maintenance can compromise the safety and reliability of the engines, potentially leading to more significant problems in the future.

ESG requirements for greener aviation didn't disappear in the medium term

The International Civil Aviation Organisation's (ICAO) 41st Assembly, held in Montreal in October 2022, marked a significant milestone for the aviation industry's commitment to sustainability. The assembly committed to a Long Term Aspirational Goal (LTAG) to achieve net zero CO2 emissions by 2050, which has brought Environment, Society, and Governance (ESG) issues to the forefront of the sustainable aviation conversation.

The LTAG's ambitious target is challenging, but it has the potential to encourage airlines to accelerate the development and adoption of greener jet fuels and other technical improvements to decarbonise flying. This will require a significant shift in industry–wide mindset, investment in research and development, and collaboration between airlines, manufacturers, and governments to achieve the long–term goal.

After COVID–19, debts for spare parts, MRO services, and aircraft leasing will impact that some aircraft will still be grounded, which will cause capacity demand

The challenging situation in the industry has pushed airlines to take on additional debt to finance various aspects of their operations, such as spare parts, MRO services, and aircraft leasing. However, the increase in outstanding debt for the industry could have significant implications, with some airlines potentially struggling to pay off their debts, which could result in a reduction in capacity as airlines are forced to ground some of their aircraft or cut routes to minimise costs.

Insider data shows that the industry's outstanding debt has jumped over 20% since 2020, reaching more than $300 billion. To raise capital, global air carriers have sold $63 billion in bonds and loans so far this year.

Media contact:
Silvija Jakiene
Chief Communications Officer
Avia Solutions Group
silvija.jakiene@aviasg.com
+370 671 22697


GLOBENEWSWIRE (Distribution ID 1000810732)

ROSEN, LEADING INVESTOR COUNSEL, Encourages Vertex Energy, Inc. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – VTNR

NEW YORK, May 17, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Vertex Energy, Inc. (NASDAQ: VTNR) between April 1, 2022 and August 8, 2022, both dates inclusive (the "Class Period"), of the important June 12, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Vertex Energy securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Vertex Energy class action, go to https://rosenlegal.com/submit–form/?case_id=12724 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 12, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) prior to the acquisition of the Mobile refinery, defendants had entered into inventory and crack spread hedging derivatives that significantly capped the profit margins on 50% of the Mobile refinery's expected output over the period April 1, 2022 to September 30, 2022, affecting over 6.5 million barrels of refined fuel output; (2) as a result, the hedges severely limited Vertex's ability to capitalize on the record–high crack spreads that existed at the time of the acquisition and resulted in over $90 million in losses in the second quarter of fiscal year 2022; (3) prior to the acquisition of the Mobile refinery, defendants had entered into an inventory intermediation agreement with the investment bank Macquarie Group, whereby Macquarie purchased (from third parties), owned, and sold (to Vertex) all crude oil inventory to be used at the Mobile refinery and also purchased (from Vertex), owned, and sold (to third parties) all refined fuel inventory produced at the Mobile refinery; (4) as a result, the strict terms of the arrangement, including requiring Vertex to purchase hedges to protect Macquarie's position in holding the crude and refined inventory, combined with the fact that the oil market was in a state of backwardation in early 2022, resulted in Vertex incurring significant fees and inventory losses; (5) prior to the acquisition of the Mobile refinery, defendants had entered into an inventory purchase agreement with Shell Oil as part of the Mobile acquisition agreement, which Vertex was forced to pay Shell Oil above–market prices for the additional crude oil inventory because of the state of backwardation in the oil market; (6) immediately following the acquisition of the Mobile refinery, Vertex experienced production issues that caused significant shortfalls in refined fuel volumes; (7) following the acquisition of the Mobile refinery, defendants overstated the purported profit margins that could be achieved at the refinery; and (8) as a result of the above misrepresentations and concealed facts, the Mobile refinery did not "generate[] strong EBITDA" "[d]uring the first 30 days of operations," and the Mobile refinery transition was not "seamless." When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Vertex Energy class action, go to https://rosenlegal.com/submit–form/?case_id=12724 or call Phillip Kim, Esq. toll–free at 866–767–3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the–rosen–law–firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

———————————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686–1060
Toll Free: (866) 767–3653
Fax: (212) 202–3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com


GLOBENEWSWIRE (Distribution ID 8841783)