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Monthly update of the symmetric adjustment of the equity capital charge for Solvency II – end-July 2025

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Monthly update of the symmetric adjustment of the equity capital charge for Solvency II – end-July 2025

The European Insurance and Occupational Pensions Authority (EIOPA) has published the technical information on the symmetric adjustment of the equity capital charge for Solvency II with reference to the end of July 2025.

Click here to view the documentation. 

Legal Background

The symmetric adjustment is regulated mainly in Article 106 of Directive 2009/138/EC (Solvency II Directive); Article 172 of the of the Delegated Regulation of Solvency II as well as in EIOPA’s Final report on ITS on the equity index for the symmetric adjustment of the equity capital charge: Read more

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Mounting civilian casualties in Sudan as fighting intensifies

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Mounting civilian casualties in Sudan as fighting intensifies

It has now been 842 days since conflict between troops from the military government and their former allies-turned-rivals in the paramilitary Rapid Support Forces erupted in Sudan, turning the country into the world’s largest humanitarian crisis.  

Heavy fighting continues in North Darfur State, with multiple civilian casualties reported in recent days – most notably during clashes in the state capital, El Fasher, on 1 and 2 August – following earlier violence between armed groups near the Abu Shouk camp for displaced people, which currently hosts 25,000 residents.  

Starvation threat

One year after famine was confirmed in Zamzam camp on the outskirts of El Fasher, the city remains under siege, with no food aid deliveries entering by road, leaving residents of the regional capital increasingly facing starvation.  

Prices of food items such as sorghum and wheat are more than four times higher than elsewhere in the country, while many families are unable to afford even the most basic items.  

“Limited cash assistance continues, but it is nowhere near enough to meet rising needs,” said Deputy UN Spokesperson Farhan Haq on Monday during the daily briefing in New York.  

Cholera menace continues

Meanwhile, cholera continues to spread across Darfur, with nearly 1,200 cases reported – around 300 of them children – in the locality of Tawila since late June.  

In South Darfur, health authorities have reported more than 1,100 suspected cases and 64 deaths since late May, as “shortages of medical supplies, clean water and sanitation services are severely hampering the humanitarian response,” said Mr. Haq.  

The UN Children’s Fund (UNICEF) warns that the lives of more than 640,000 under-fives are at heightened risk of violence, disease and hunger in the region.

Compounded crisis

In Blue Nile State, floods in Ed Damazine displaced more than 100 people and destroyed at least 200 tents at Al-Karama camp on 1 August, further compounding the challenges facing people who fled their homes due to conflict.  

Meanwhile, in Khartoum State, the presence of deadly landmines in multiple locations adds a dangerous new layer to the threats already faced daily by civilians.  

As OCHA’s Director of Operations, Edem Wosornu, visits Sudan this week to assess the humanitarian situation, the agency has called for sustained and expanded humanitarian access along with greater international support for the most vulnerable. 

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The EBA consults to simplify and streamline its technical standards on resolution plans and on the functioning of resolution colleges

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The EBA consults to simplify and streamline its technical standards on resolution plans and on the functioning of resolution colleges

The European Banking Authority (EBA) launched today a public consultation to amend the Regulatory Technical Standards (RTS) on resolution plans and the RTS on resolution colleges. These revisions target both the structure and content of resolution plans as well as the operational functioning of resolution colleges for cross-border groups. The aim is to simplify and streamline resolution plans and the functioning of resolution colleges and strengthen cooperation among college authorities. The consultation runs until 5 November 2025.

Drawing on over a decade of experience in resolution planning and taking into account lessons learned from crisis cases and simulation exercises, the EBA is proposing targeted changes to the RTS on resolution plans and resolution colleges, adopted in 2016 and combined under Delegated Regulation (EU) 2016/1075.

On the RTS on resolution plans and resolvability assessments, the proposed amendments simplify and streamline plans by eliminating unnecessary details and duplications, improve operational readiness for a more effective resolution execution, and introduce greater optionality to accommodate different resolution scenarios. Key changes include more consistency in the essential information to be included in the plan summary, a more focused plan content tailored to each institution or group, and a clearer distinction between strategy selection and resolvability assessment. The proposed changes also reorganise the resolvability assessment along seven core dimensions to ensure consistency and effectiveness of the resolvability assessment across the EU.

Experience has shown that the resolution colleges are spending too much time focusing on the procedural aspects of reaching joint decisions, potentially hindering efficient and timely decision-making. The amendments to the RTS on resolution colleges aim to simplify processes, improve cooperation and information exchange among authorities and improve effective coordination in the implementation of the resolution scheme, thus increasing the efficiency and effectiveness of the functioning of resolution colleges in the planning as well as in the execution phases.

Consultation process

Responses to the consultation can be submitted to the EBA by clicking on the “Submit response” button on the consultation page.

All contributions received will be published after the consultation closes, unless requested otherwise. The deadline for the submission of comments is  31 October 2025.

A public hearing on this consultation will take place via conference call on 16 September 2025 from 14:00 to 16:00 CEST. The deadline for registration is 10 September 2025 at 16:00 CEST.

Legal basis

The Bank Recovery and Resolution Directive (BRRD) – Directive 2014/59/EU – mandates the EBA to specify the content of resolution plans (Articles 10 and 12), the assessment of resolvability (Article 15), and the operational functioning of resolution colleges (Article 88). The original RTS were submitted to the Commission in 2014 and adopted in 2016.

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Geography should not define fate: the UN summit on nations without coastlines is open in Turkmenistan

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Userping world leaders to rethink the development of landlocked nations, the UN chief said: “We are now meeting to reaffirm a fundamental truth: Geography should never define fate. “”

According to the United Nations Development Program, 32 landlocked developing countries (Lldcs) in the world, 16 are in Africa, 10 in Asia, four in Europe and two in Latin America. Together, they house more than 500 million people.

Commercial barriers, distress of debt and deep inequality

Mr. Guterres described the “intimidating challenges” that the LLDCs continue to cope – from high barriers to trade, high transport costs and limited access to global markets. He warned that the debt burden of these countries had reached “dangerous and unsustainable levels”.

Although the LLDC represent seven% of the world’s population, they represent just over one percent of world economic production and trade. “This is a brutal example of deep inequalities that perpetuate marginalization,” said the secretary general, attributing it to “an unjust global economic and financial architecture which does not reflect the realities of the interconnected world of today”, as well as to the legacy of colonialism.

Decades of ambition: the Awaza action program

The task before the conference, known as the name LLDC3 And running in Awaza until Friday is to find solutions to these challenges.

“LLDC3 consists of launching a new decade of ambition – through the Awaza action program And its deliverables – and fully unlock the development potential of developing countries without coastline, “said Mr. Guterres.

Adopted by the United Nations General Assembly in December 2024, this action plan represents a global commitment renewed and strengthened to support the development aspirations of the LLDC.

Four Progress priorities

The secretary general described four key priorities:

  1. Accelerate economic diversification and digital transformation
    • Invest in value added industries, local innovation and inclusive growth.
    • Throw the digital ditch to unlock AI, electronic commerce and intelligent logistics.
  2. Strengthen trade, transit and regional connectivity
    • Improve infrastructure and simplify cross -border procedures.
    • Integrate LLDC into global value chains and reform commercial systems.
  3. Advance of action and climate resilience
    • Double adaptation funding and build an infrastructure resilient to the climate.
    • Support LLDC in green transitions with technology and partnerships.
  4. Mobilize funding and partnerships
    • Reform global financial systems to ensure fair and accessible funding.
    • Failure of concessional finance and unlock climate investment at high speed.

“The success of landlocked developing countries is essential to the success of the 2030 agenda“, Underlined Mr. Guterres.

“We have knowledge, and we have the tools … Together, we can transform the geography of a barrier into a bridge – connecting not only the markets, but the peoples and cultures that give meaning to development.”

Talk to journalists Later, Mr. Guterres stressed that the conference reflects a new era of cooperation taking shape through Central Asia – a property based on mutual trust, shared priorities and increasing regional solidarity.

“At a time when multilateral cooperation is tested, this spirit of partnership is more essential than ever,” he said.

Regional challenges, global solidarity

The session has opened its doors with the reception of the president of Turkmenistan, Serdar Berdimuhamedov, who underlined national initiatives to strengthen international cooperation in health care, climate action and environmental protection.

He also drew attention to regional challenges such as drying the Aral Sea and waterfall levels in the Caspian Sea, which is the largest closed water in the world and the framework of the third LLDC one.

In his remarks, a President of the General Assembly Philemon Yang noted “the deadline to approach quickly for the 2030 agenda” and called for a decisive action and a renewed commitment to multilateralism and fundamental values.

He pointed out that the three pillars of Charter of the United Nations – Peace, development and human dignity – must remain at the heart of all efforts, and that actions must reflect the promise of leaving no one behind.

Noting the vulnerability of the LLDC to climate change and structural challenges, Mr. Yang said that these countries “never had to lack access to opportunities, prosperity or hope” and called for international solidarity, the investment of infrastructure and the practical realization of freedom of transit.

He also announced that the General Assembly had proclaimed on August 6 as the International Awareness Day to Development Countries without coastline, to observe each year.

“The General Assembly will continue to serve as a global platform in support of these countries,” he said, stressing the importance of monitoring the Awaza action program and preparing its high-level examination in 2029.

Transform vulnerability into opportunity

Also addressing the opening session, Lok Bahadur Thapa, President of the UN Economic and social councilsaid LLDC3 is “a central moment” for the 32 landlocked nations which endeavor to overcome structural obstacles to development.

Originally from Nepal, which is both landlocked and the least developed, he stressed that the Awaza action program must serve as a “plan of fatty, ambitious, exploitable and future” to transform the vulnerability into opportunity for more than 570 million people.

Thapa underlined the urgency of dealing with the “growing complexity, scale and emergency” of the challenges facing the LLDC, including the distress of debt, climatic impacts and infrastructure gaps. Mr. Thapa has urged the creation of an infrastructure investment installation for LLDC, as well as climate finance on a scale, increased concessional resources and accelerated technology transfer.

He also underlined the importance of regional cooperation and sustainable transport, praised the leadership of Turkmenistan and reaffirmed Ecosoc’s commitment to advance the Awaza action program – undertaking to integrate LLDC priorities such as food security, empowerment of young people and climate awareness of all ecosoc discussions and processes.

LLDC3 continues tomorrow, Wednesday, August 6, with round tables and events on a range of subjects, including connectivity and transport, South-South cooperation, young people and more. Find all our cover here.

Originally published at Almouwatin.com

Đối thoại nhân quyền thường niên EU-Việt Nam diễn ra tại Hà Nội

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Đối thoại nhân quyền thường niên EU-Việt Nam diễn ra tại Hà Nội

Đối thoại nhân quyền thường niên EU-Việt Nam diễn ra tại Hà Nội

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Đối thoại nhân quyền thường niên EU-Việt Nam diễn ra tại Hà Nội

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Đối thoại nhân quyền thường niên EU-Việt Nam diễn ra tại Hà Nội

Đối thoại nhân quyền thường niên EU-Việt Nam diễn ra tại Hà Nội Source link

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World News in Brief: Uganda’s refugee funding crisis, academic freedom tested in Serbia, rural resilience in Afghanistan

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World News in Brief: Uganda’s refugee funding crisis, academic freedom tested in Serbia, rural resilience in Afghanistan

Uganda has a progressive refugee policy which enables refugees to work and access public services. This coupled with its geographic proximity to crises has made it the continent’s largest refugee-hosting country.

“Emergency funding runs out in September. More children will die of malnutrition, more girls will fall victim to sexual violence, and families will be left without shelter or protection unless the world steps up,” said Dominique Hyde, UNHCR’s director for external relations.

UNHCR estimates that it costs $16 per refugee per month to provide essential services, but at this point, the agency will only be able to deliver $5 worth of aid each month.  

Funding missing

Most refugees are entering Uganda from war-torn Sudan, South Sudan and the Democratic Republic of the Congo – all countries which have been ravaged by protracted armed conflicts and acute food insecurity.  

These refugees are seeking shelter and life-saving aid, and many of them are children.  

In a recent visit to some of the refugee camps, Ms. Hyde met one 16-year-old girl who fled violence in South Sudan after losing her parents. She is now caring for her four younger siblings alone.  

“She dreams of going back to school, but survival is all she can think about,” Ms. Hyde said.  

Children like her depend on the aid which UNHCR and the Uganda government provide. But with only 25 per cent of the funding required, the aid is quickly disappearing.

“Uganda has opened its doors, its schools, and its health centers. This model can succeed, but it can’t do it alone,” Ms. Hyde said.  

A test of democratic resilience in Serbia as crackdown on protests continues

Independent human rights experts warned Monday that Serbia’s intensifying crackdown on protests and protestors — especially students, professors and civil society — violates international human rights and undermines democracy.  

The protests, which began in late 2024 in response to an infrastructural collapse which killed 16 people, have become a nationwide call for accountability, transparency and justice.

“What we are witnessing in Serbia is a systematic attempt to silence critical voices and dismantle the independence of academic institutions. This is not just a student protest — it is a test of human rights accountability and democratic resilience,” the experts said.  

Independent experts are appointed by the Human Rights Council in Geneva to monitor and report on special human rights matters. They are independent of the UN system and any government.  

Renewed commitment  

Since the end of June, the experts said that they have observed increasingly violent repression of protests, including unlawful arrests, prolonged detention and smear and surveillance campaigns against individuals. Some protesters have reportedly been seriously injured.  

Educational institutions in particular have come under pressure with some universities slashing faculty salaries and some high school teachers have been threatened with disciplinary action for supporting the protesters.  

“Instead of listening to young people’s voices, the Government has chosen to punish them. This approach not only violates international human rights standards, but also, by its very nature, undermines the very foundation of a democratic society,” the experts said.

The experts called on the Serbian government to renew its commitment to human rights and justice, stressing that academic freedom and access to justice are pillars of democracy.

New programme in Afghanistan seeks to rebuild farmer resilience

The Food and Agriculture Organization (FAO), in concert with the United Kingdom, is launching a new agricultural resiliency programme in Afghanistan in the hopes of improving production and nutrition throughout the country.  

Resilient Agriculture Livelihoods (ReAL) hopes to reach over 150,000 people in all eight regions of the country by the end of next May. It will specifically target small-scale farmers, landless labourers, livestock keepers and women and girls.  

“Afghanistan’s farmers are extraordinarily resilient, but repeated climate and economic shocks are eroding this strength. This project lays down important pathways to help farmers rebuild that resilience,” said Richard Trenchard, the FAO representative in Afghanistan.

Agricultural cornerstone

The ReAL program will work to expand market access for farmers in addition to managing climate risks in a way that will promote sustainable land use and enable communities to not rely on humanitarian assistance long-term.  

Between 2022 and 2024, FAO reached over 30.3 million people in Afghanistan with emergency food relief and long-term resilience projects, work which helped to decrease the food insecurity crisis by half.  

“In a country where agriculture sustains most lives, this is a short-term investment with long-term impact,” said Mr. Trenchard. 

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The EBA publishes key regulatory products on operational risk losses under the EU Banking Package implementation

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Đối thoại nhân quyền thường niên EU-Việt Nam diễn ra tại Hà Nội

The European Banking Authority (EBA) today published three final draft Regulatory Technical Standards (RTS) that provide a taxonomy for operational risk losses and offer clarity on the exemptions for the calculation of the annual operational risk loss and on the adjustments to the loss data set that banks must perform when merging or acquiring entities or activities.

The RTS on establishing a risk taxonomy on operational risk provide a list of operational risk event types, categories and attributes that institutions must use when recording operational risk loss events, in line with the current framework and the international standards.

The RTS on the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss recognise cases when it would be disproportionate for an institution to promptly calculate the annual operational risk loss. In such cases, the RTS allow for a temporary waiver from the requirement to calculate the annual operational risk loss.

The RTS on the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities provide indications on the currency and the risk taxonomy to be used when incorporating the loss data set of merged entities or activities, and provides guidance on how to calculate the annual operational risk loss when data on historical losses are not available.

Legal basis and background

Article 317(9) of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR), mandates the EBA to develop draft RTS to establishing a risk taxonomy on operational risk that complies with international standards and a methodology to classify the loss events included in the loss data set based on that risk taxonomy on operational risk.

The operational risk taxonomy represents a significant update of the operational risk loss events, featuring clearer definitions and enhanced descriptions. It aligns with industry’s best practices by capturing the attributes of loss events, which represent additional information on the nature of the losses that go beyond the event types and the categories.

Furthermore, the operational risk taxonomy is aligned with the definitions in the Digital Operational Resilience Act (DORA), allowing for a simpler management of the loss dataset. Finally, attributes on ESG are meant to complement the risk taxonomy, allowing institutions to add this piece of information to relevant operational risk losses.         

Article 316(3) of the CRR, mandates the EBA to develop draft RTS to specify the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss.

Article 321(2) of the CRR3 mandates the EBA to draft RTS to determine the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities.

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Gaza: As aid trucks enter, videos of Israeli hostages and attack on Red Crescent staffers spark outrage

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Gaza: As aid trucks enter, videos of Israeli hostages and attack on Red Crescent staffers spark outrage

Meanwhile, on Thursday and again on Saturday, Palestinian Islamic Jihad and Hamas militants published disturbing videos of two emaciated Israeli hostages, sparking worldwide outrage and condemnation from UN leaders, including Secretary-General António Guterres on Monday.

The hostages pictured, Rom Braslavsk and Evyatar David, are two of the 49 are still being held in Gaza, including 27 the Israeli military says are dead.

At Monday’s daily briefing in New York, UN Deputy Spokesman Farhan Haq said the Secretary-General “was very shocked by this unacceptable violation of human dignity.”

UN rights chief Volker Türk added in a statement that he was appalled by the humiliating treatment of the hostages. Both he and the Under-Secretary-General for Humanitarian Affairs, Tom Fletcher, reiterated their call for an unconditional, immediate release of all hostages still being held since the 7 October terror attacks.

The High Commissioner said the “intolerable” sight of starvation in Gaza served as another reminder that the violence had to end. “Saving lives must be everyone’s priority.”

He called for Israel to immediately allow and facilitate rapid and unimpeded aid: “Denying civilians access to food may amount to a war crime, as well as potentially a crime against humanity.”

Attack on aid workers

On Sunday, the Israeli military reportedly struck the headquarters of the Palestinian Red Crescent Society in Khan Younis, killing one and injuring three other staff members.  

The facility is marked with the Red Crescent emblem and is thus protected under international humanitarian law.

The UN rights office (OHCHR) in Palestine expressed deep shock and outrage over these killings.

“These workers continue to engage in life-saving efforts putting their own lives at risk,” OHCHR said.

Aid entry  

Amid these controversies, the Director-General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, posted on social media on Saturday, saying that since Friday, the agency had brought 24 trucks with medical supplies into Gaza.  

Items included essential medicines, trauma and surgery supplies, treatments for non-communicable disease and laboratory and water testing supplies.  

Mr. Haq also highlighted on Monday that in recent days, the UN and its partners have collected wheat flour, ready-to-eat rations and hot meals from crossing points into Gaza, but most of the cargo was taken by the hungry and desperate before reaching intended destinations.

Additionally, hygiene kits and nutrition supplies, including high-energy biscuits for pregnant and breastfeeding women and infant formula, have entered in the past week.

However, in the second week since the Israeli announcement of tactical pauses to allow safe passages for UN aid convoys, Mr. Haq said realities on the ground remain largely the same.  

This includes many challenges to delivering aid, resulting in the impediment of two of the 11 missions on Sunday and the full passage of only seven.

Famine-like conditions

This aid is still a fraction of what is needed, as a catastrophic food crisis worsens across the Strip.  

The World Food Programme (WFP) said it “is doing everything possible to distribute vital food assistance to families,” but reported on Sunday that over half a million people in Gaza are enduring famine-like conditions.  

The UN aid agency for Palestinians (UNRWA) released an audio of Manar, an employee who works within Gaza, on Monday. She said that “food is never enough,” and that many walk in the heat for hours to search for food and medical supplies.

The Commissioner-General for UNRWA, Philippe Lazzarini, underscored that this near-famine is largely due to deliberate efforts to dismantle the UN-coordinated humanitarian system through the Israeli and US-backed Gaza Humanitarian Foundation (GHF), which is responsible for the killing of nearly 1,400 starving Palestinians near its sites and convoy routes, according to Gaza’s health ministry.

Prioritising the GHF, Israel has prevented UNRWA – “the backbone of humanitarian response” – from bringing in assistance since 2 March, he said. 

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Small-scale solar explosion reveals big clues about magnetic reconnection

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Using the world’s largest solar telescope, a team of scientists has captured one of the most detailed views

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