Norway makes fishing vessel data accessible to the world

Norway to become first European nation to share its vessel tracking information on Global Fishing Watch map

Lisbon, Portugal, June 30, 2022 (GLOBE NEWSWIRE) — Norway has become the first country in Europe to partner with Global Fishing Watch—an international nonprofit organization dedicated to advancing ocean governance through increased transparency—and will share its vessel tracking data for the Norwegian fishing fleet on the organization’s public map.

The announcement was made at the second United Nations Ocean Conference in Lisbon, Portugal where countries from around the world are gathering to mobilize action and innovative solutions to some of the ocean’s most pressing threats.

Under the memorandum of understanding, which was signed between Global Fishing Watch and Norway’s Directorate of Fisheries, Norway has agreed to share the vessel monitoring system data for vessels 15 meters or more in length on the Global Fishing Watch map.

“Wild living marine resources are a common good and belong to everyone,” said Frank Bakke-Jensen, director general of the Directorate of Fisheries in Norway. “When a commercial fishing fleet is licensed to utilize this common good, we are obliged and committed to share fisheries data documenting the environmental footprint of commercial fishing activity. We hope that others will follow this approach and share more fisheries data.”

“We believe that improved transparency of fishing data is necessary to reduce the risk of illegal fisheries and set the groundwork for improved compliance,” said Thord Monsen, head of monitoring, control and surveillance at the Directorate of Fisheries.

The incorporated data will span a total of approximately 600 vessels—all vessels 15 meters in length or more predominantly operating in Norwegian waters and the northeast Atlantic Ocean. Norway is currently expanding its VMS requirement to include all commercial fishing vessels, as well as increasing the frequency that vessels need to report their position—a requirement which will be implemented over the coming years in a phased approach.

“We’re seeing more and more countries embrace fisheries transparency, demonstrating their understanding of just how essential public data is to the effective management of fishing activity,” said Tony Long, chief executive officer of Global Fishing Watch. “Norway has taken a leading global role in the sustainable ocean economy and is using its experience and expertise to promote better ocean governance. By bringing its fishing fleet into our map, Norway is paving the way for other countries, including developed nations, to follow suit.”

Since October 2019 Norway has shared its VMS tracking information on the Fisheries Directorate website in support of transparency and as part of an effort to make government data public whenever possible. The partnership with Global Fishing Watch will help make its vessel tracking data more accessible to a wider range of stakeholders—a substantial benefit in the sphere of international fisheries management.

With a coastline of more than 83,000 kilometers, including islands and fjords, the fishing sector is a key element to Norway’s economic, social and cultural identity. Norway is the second largest exporter of fish and fish products by value in the world and is home to some of the most productive marine areas in the world. An influential voice when it comes to fisheries issues and a leader on blue economy issues, Norway’s decision to partner with Global Fishing Watch and amplify its vessel tracking data demonstrates how fisheries transparency can be adopted in countries where fishing represents such a significant part of the economy.

“Data can be a powerful tool in protecting the environment, as we have seen in our work on climate change. The more data we have about the ocean, the better we can protect it and the people that rely on it. Norway’s commitment to making fishing vessel data accessible to the world – via Global Fishing Watch – is a great step forward for ocean transparency,” said Michael R. Bloomberg, Founder of Bloomberg Philanthropies and ​UN Special Envoy on Climate Ambition and Solutions. “Their commitment to data-sharing is a model other countries can follow, and it will help demonstrate the effectiveness – environmentally and economically – of sustainable fishing.”

Norway joins a growing number of progressive countries from around the world that are dedicated to advancing, and benefiting from, fisheries transparency, which include: Benin, Brazil, Belize, Chile, Costa Rica, Ecuador, Panama, Peru and the Republic of the Marshall Islands.

Global Fishing Watch is an international nonprofit organization dedicated to advancing ocean governance through increased transparency of human activity at sea. By creating and publicly sharing map visualizations, data and analysis tools, we aim to enable scientific research and transform the way our ocean is managed. We believe human activity at sea should be public knowledge in order to safeguard the global ocean for the common good of all. globalfishingwatch.org

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Sarah Bladen
Global Fishing Watch
+44 79 20333832
[email protected]

OKX launches Block Trading as latest innovation for institutional and pro crypto traders

  • Block Trading is OKX’s latest innovation designed to allow institutional and professional traders to transact in bulk, without the risk of price slippage
  • OKX offers the only block trading platform for crypto that integrates spot and derivatives trading while supporting futures, options, and perpetual swap trading

VICTORIA, Seychelles, June 30, 2022 (GLOBE NEWSWIRE) — OKX, the world-leading cryptocurrency platform, today launched Block Trading, which allows professional and institutional users to execute large, privately negotiated transactions off the order books.

OKX is the only crypto exchange to provide a block trading platform that allows investors to execute crypto spot, futures, options, and perpetual swap trades, as well as multi-leg combination trades, over the counter. When executing multi-leg trading strategies on the platform, traders benefit from competitive pricing and ease of use, including single-click atomic trade execution. Since trades are executed over the counter, traders avoid the risk of price slippage — the divergence of quoted sell price and actual sell price.

The OKX Block Trading platform is distinctive in that it allows users to integrate spot and derivatives trades on a single platform and trade multiple currencies in a single trade. It is also unique for its support of trading of perpetual swap, futures, and option contracts with popular altcoins, such as Solana (SOL), as the underlying. The platform allows for multi-leg combination trades, including future spreads, straddles and carry trades, among others.

Lennix Lai, Financial Markets Director, OKX, said, “As the crypto market matures and more professional and institutional investors enter it, OKX is introducing Block Trading to ensure these users have the tools they need to invest well. Block Trading on OKX allows investors to not only make large trades at more favorable prices, but to do so without the risk of their trading causing price slippage.”

To execute a block trade on OKX, traders first submit a request-for-quote (RFQ) that broadcasts their request to selected counterparties, who then offer a quote in response. If the trader accepts the quote, the trade is then executed off the order books via OKX’s trading engine. Investors can discover more about how OKX Block Trading works on OKX Learn.

Clément Florentina, CEO, Darley Technologies, said, “OKX has always been one of the most user-friendly exchanges for institutional traders like ourselves, with features like portfolio margin providing greater capital efficiency. Block Trading on OKX opens up additional opportunities for us to quote sophisticated, multi-instrument strategies, without the counterparty having to worry about slippage or execution.” Darley Technologies is a high-frequency trading firm that delivers market making and liquidity provision on a range of prominent exchanges.

Going forward, Block Trading on OKX will be expanded to offer bespoke strategies, further OTC products and integrations with Dei derivatives protocols.

OKX is the world’s most powerful crypto exchange for institutional traders, ranking second globally in derivatives trading volume. The platform was also the first to introduce portfolio margin mode for multi-currency margining with risk offsetting functionality, and offers 500+ spot pairs and 250+ linear and inverse perpetual swaps and futures contracts.

Find out more about OKX Block Trading here.

For further information, please contact:
[email protected]

About OKX
OKX is a world-leading crypto trading app and Web3 ecosystem. Trusted by more than 20 million global customers in over 180 international markets, OKX is known for being the fastest and most reliable crypto trading app of choice for investors and professional traders globally.

Since 2017, OKX has served a global community of people who share a common interest in participating in a new financial system that is designed to be a level playing field for everyone. We strive to educate people on the potential of crypto markets and how to invest and trade responsibly. Beyond the OKX trading app, our Web3 portal, known as OKX Wallet, is our latest offering for people looking to explore the world of DeFi, NFTs and the metaverse.

To learn more about OKX, download our app or visit: okx.com

SBP Orders Bank to Pause Financing Homes Under PTI’s Mera Pakistan Mera Ghar Scheme

The State Bank of Pakistan (SBP) Thursday instructed banks to put further disbursements under Mera Pakistan Mera Ghar (MPMG) on hold.

The central bank also instructed banks to hold fresh disbursements under the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES).

“Government of Pakistan is considering to review/revise features of subject Scheme in light of recent developments in macroeconomic scenario. Accordingly, banks/DFIs/MFBs are advised to put further disbursements under MPMG on hold from July 01, 2022, till August 31, 2022,” the central bank said in a circular.

However, the central bank said that in those cases where partial disbursements have already been made till June 30, 2022, banks/DFIs/MFBs may release the remaining disbursement under MPMG, it added.

In another circular, the central bank said that the government is considering reviewing/revising features of PMKJ-YES in light of recent developments in the macroeconomic scenario.

Accordingly, banks participating as executing agencies under the said scheme are advised to put on hold fresh disbursement from July 1, 2022, to July 15, 2022, it said.

The development will shatter the dreams of middle and lower-middle-class people who had planned or submitted applications to banks for purchasing a housing unit.

According to various studies, there is a deficit of over 12 million housing units in Pakistan with continuous growth in demand due to the rising population.

The scheme was launched by the previous government. All commercial banks and the State Bank of Pakistan (SBP) did extensive work to design a house financing scheme that could be affordable for people with no ownership of a house.

As per the latest data released by the SBP, commercial banks in Pakistan have approved Rs. 212 billion and disbursed Rs. 85 billion to customers across the country so far under the Mera Pakistan Mera Ghar scheme.

The scheme also aimed at stirring the economic growth and employment in the construction sector which comprises over 40 allied industries. The construction sector contributed 2.5 percent to GDP and 7.71 percent of the employed Pakistani labor force is engaged in the construction sector, according to the Economic Survey of Pakistan for FY21.

Source: Radio Pakistan

Pakistan’s Growth Stunted by Inability to Mobilize Talent and Resources: WB

Pakistan’s growth has been stunted by the inability to mobilize all of its talent and resources, and to allocate them to productive uses, says the World Bank.

The Bank in its latest report “Pakistan Country Economic Memorandum”, stated that the country’s growth prospects are directly associated with the ability of its firms to grow large and productive over time, so that they create good quality job opportunities for the increasing working age population.

Growth has been low and consumption driven with implications on macro imbalances and long-term growth sustainability because low growth contributions of investment and exports are associated with productivity stagnation which also shows at the firm level and in part driven by lower capital deepening with many firms are not investing enough even to replace their depreciation which means they do not grow large (or ‘wise’) as they grow old and showing in underwhelming performance of Pakistani firms in demanding global markets in fact, lack of global integration is both cause and consequence of low productivity growth.

Slow structural transformation is also symptomatic of low productivity growth and quality job creation and while more recently, this process has accelerated but a supply constraint – low female labor force participation – may reduce the scope for further accelerations.

The report noted that since 2000, Pakistan’s real GDP per capita growth has been low at around 2.0 percent – almost 2.7 percentage points lower than the South Asian average. Not only is the contribution of exports and investment to overall growth in aggregate demand low from a long-term perspective and a cross-country comparison, but it has also declined.

During 1999-00-2009-10, exports and investment demand added on average 1.4 percentage points to aggregate demand growth. This contribution fell to an average of 0.7 percentage points during 2009-10 — 2019-20.

Low investment rates more than offset high consumption (therefore low saving). Structural challenges to mobilize revenues to match high government expenditures, resulted in systematic public sector deficits.

As a result, Pakistan has had current account deficits for 16-21 years since the turn of the century. As a result, risks of balance of payments crisis and macro instability have increased.

In 2018, an average worker in Pakistan produced only 38.1 percent more output than in 1991, while one from Vietnam produced 257.6 percent more than in 1991.

Source: Radio Pakistan

Another Massive Price Hike Takes Petrol Price to Rs. 248.74

The government on Thursday announced another hike in prices of petroleum products, taking the cumulative amount of all hikes since May 26 up to Rs. 132 per liter.

According to the notification issued by the Finance Division, petrol will now be priced at Rs. 248.74 per liter, followed by high-speed diesel at Rs. 276.54 per liter, kerosene oil at Rs. 230.20 per liter and light diesel at Rs. 226.61 per liter. The new prices will come into effect from midnight tonight.

As per the notification, Rs. 10 petroleum levy has been applied on petrol and Rs. 5 each on all other products.

“In view of the fluctuations in petroleum prices in the international market and the exchange rate variation, the government has decided to apply a petroleum levy partially and revise the existing prices of petroleum products as agreed with the development partners,” the Finance Division said in a statement.

GST and Petroleum Levy

It is pertinent to mention here that the federal government has set a target to collect Rs. 750 billion on account of the petroleum development levy (PDL) in fiscal year 2022-23 (FY23).

The government has agreed with the International Monetary Fund (IMF) on a schedule to increase the prices of petroleum products by imposing a 17 percent general sales tax (GST) and PDL of Rs. 50 per liter during FY23.

The government and IMF have agreed on a schedule to impose GST and PDL on petroleum products from 1st July 2022 to June 2023 for the revival of the stalled loan program.

Background

Giving in to the insistence of the IMF to abolish the subsidies on petroleum products, the government had raised the prices of all petroleum products by Rs. 30 per liter on May 26.

This was followed by another hike of Rs. 30 per liter merely days later, followed by the third hike on June 15.

Before the increase on May 26, the price of petrol and high-speed diesel was Rs. 149.86 and Rs. 144.15 per liter, respectively. Similarly, the price of kerosene and light diesel oil was Rs. 125.56 and Rs. 118.31 per liter, respectively.

Source: Radio Pakistan

IT Ministry Recommends Candidates for NITB DG Slot

The Ministry of Information Technology and Telecommunication has recommended a panel of three candidates for the slot of National Information Technology Board Director-General.

Sources said that the Ministry of IT&T has proposed the names of Mohammad Imran Hyder, Toufeeque Ahmad, and Khurram Khan for the slot to the Prime Minister Secretariat.

The ministry shortlisted 13 out of 313 applicants and 10 candidates appeared before the four-member selection committee.

Based on the criteria, the candidates were evaluated in terms of educational background, personality, leadership, the relevance of experience, and vision for the sector by the selection Committee.

The tenure of the incumbent NITB DG will expire on July 2, 2022.

Source: Radio Pakistan