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Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Summary Airbus is integral to the economy and tech development in Wales through key facilities in Broughton & Newport. Broughton excels in wing manufacturing with emphasis on expanding production capabilities. Newport focuses on cybersecurity ops vital to aviation and defense, displaying advancements in digital innovation. Airbus has large establishments in Broughton and Newport and plays a major role in the economic and technological development of Wales. The company's operations in Wales are centered around two key sites: the Broughton manufacturing facility and the Newport Cyber Innovation Hub. The Broughton facility is famous for manufacturing aircraft wings, while at Newport, R&D in cybersecurity for aerospace and defense are conducted. With aircraft production rates rising to meet demand, Wales's contribution to timely and efficient wing production is critical. The role of Airbus in Wales Airbus has been an essential cog in Wales' economy for more than three decades. Its operation has a significant effect on the economy at both the regional and national level . The aircraft manufacturer is now one of the largest and most significant industrial entities in Wales, providing direct employment, supply chain, and boosting regional GDP. Innovation is central to Airbus operations in Wales. From the manufacturing line to the protection of data, the company's research and development innovations redefine what is possible in aerospace and in cyberspace. Airbus's Broughton site is one of the most technologically advanced aircraft manufacturing plants in the world, which focuses on wings production. New wings will play a key role in helping aviation achieve its net-zero goal, but there are difficulties to consider. Broughton: the heart of wing production The Broughton facility was originally created in 1939 as a shadow factory (a concealed WWII facility to protect and continue war production despite enemy bombings) to manufacture aircraft during the Second World War. It has since become one of Airbus's most important production centers. This plant is involved in the production of wings for the whole family of Airbus commercial aircraft, such as the A320, A330, A350, and A380. Situated over 700 acres and with a workforce of about 6,000, the Broughton plant is one of the largest in Wales. Wings manufactured here are shipped by Airbus Beluga aircraft to final assembly plants in Toulouse, Hamburg, and Seville. This process shows the strategic but intricate supply chain system that exists at Airbus. Over the last couple of years, Airbus has invested heavily in increasing production capacity at Broughton. In 2022, the company stated that it wants to boost the A320 family production rate to 75 per month by 2025 . This expansion is expected to generate up to 450 new positions in the facility, thus an indication of the single-aisle aircraft market growth. In addition, there has been a vast improvement in the technology in production lines. So, the production of wings has been enhanced by automation and digital manufacturing processes over the years. Consequently, the economic impact of Broughton on the economy of Wales is large. According to UK parliament , Airbus has invested over £2 billion in Broughton in the last decade. The company also has a very close relationship with local educational establishments to develop skills development and training schemes. This partnership ensures that there will be an adequate supply of human resources for the production line as well as the growth of the economy. Also, in 2020, in the wake of the COVID-19 pandemic, Airbus transformed the Broughton research site into a production line of ventilators for the health sector, according to Forces News . Fun fact: the Broughton FC, formed in 1946, is a Welsh football club known as 'The Wingmakers' . They use the Hollingsworth Group Stadium which is near Hawarden Airport and their floodlights are retractable because of the airport’s proximity. Newport: cybersecurity and digital innovation Whereas Broughton is heavily involved in actual production, Newport is critical to Airbus’s digital operations. Focusing on cybersecurity, the Newport site covers some of the biggest risks for the aviation and defense industries. As the number of cyber threats increases with the aim of disrupting aerospace infrastructure, Airbus has taken measures to safeguard data, aircraft and communication channels. Airbus set up a Cyber Innovation Hub in Newport in 2019. At the hub level, the organization collaborates with the Welsh Government and other UK defense establishments to build solutions for secure communication and encryption. The 'Ectocryp' is one of the facility’s leading inventions. It is used in government and defense communication and is believed to be the 21st-century equivalent of the Enigma machine. Ectocryp is a range of Airbus cryptographic products designed to ensure secure voice, data, and video communications up to the UK 'Top Secret' level. Newport is not simply a company asset for use exclusively by Airbus but also a valuable component of the United Kingdom’s defense system. Preserving significant aviation facilities and military indicators, the site serves the security of the country and demonstrates Wales as a cybersecurity sector leader. Airbus is very sensitive to security matters in the cyber world, especially after what happened last year. In September 2023, it suffered a data breach that exposed the information of over 3,200 vendors, including names, addresses, phone numbers, and email addresses, according to The Cyber Express . The cyberattack began when a computer belonging to Turkish Airlines was infected with RedLine malware, possibly as a result of downloading a pirated Microsoft .NET framework; subsequently, the attackers were able to infiltrate Airbus systems using stolen login credentials. Challenges and opportunities for Airbus in Wales In November, the UK Government revealed plans to increase funding for the Aerospace Technology Institute (ATI) Programme by £975 million over the next five years to help drive innovation and produce jobs in the aerospace industry, which currently provides work for many people in North Wales, according to North Wales Live . Moreover, £49 million has been earmarked for aerospace in Wales – the development of aircraft engines and helicopters and the strengthening of the UK’s position as a world leader in wings and engines on the way to net-zero aviation. According to UK Aviation News , Airbus also intended to establish a helicopter manufacturing plant in Broughton to assemble H175M helicopters, which the UK Ministry of Defence would use to replace aging Puma aircraft. Nonetheless, in August 2024, Airbus pulled out of the race, arguing that it could not meet the Ministry’s demands and achieve sustainable profitability of the proposed plant in the long run. Still, there are many opportunities available. Airbus aims to maintain its delivery target of 770 aircraft despite supply chain hurdles and its efforts to develop the next generation of environmentally friendly aircraft. These challenges could provide Wales with an opportunity to continue to be the center of aircraft production for the next several decades. Since governments and airlines are searching for solutions that are more environmentally friendly than the current aircraft, Airbus cannot avoid making changes in the production line. Wales could be involved in this transition, especially if new wing designs or sustainable aviation technology are incorporated into the Broughton site. The majority of these orders came from Riyadh Air. However, to counter the problem of production halts during the COVID-19 outbreak, Airbus has come up with several mitigation strategies such as a more diverse supply chain, thus eliminating the risk of supply chain disruption. Recently, the BBC reported that Airbus will cut 477 UK jobs as part of a plan to eliminate more than 2,000 positions worldwide by mid-2026 to improve efficiency and bring down costs in its space business. The firm recorded a 22% profit drop to £1.8bn, with a 7% sales rise to £44.5bn due to supply chain issues in order fulfillment.
TOKYO , Dec. 15, 2024 /PRNewswire/ -- Representatives from China and Japan shared their insights on promoting artificial intelligence (AI) governance and data sharing at a sub-forum of the 20th Beijing-Tokyo Forum in Tokyo recently. The sub-forum contributed eastern wisdom to AI governance and digital social development, demonstrating the significance of international cooperation for the development of the digital economy, according to Gao Shaolin, advisor at Peking University's Legal Artificial Intelligence Research Center. AI governance framework The participants agreed that the next 10 years will be a critical period for the development of AI. Gao Wen, academician of the Chinese Academy of Engineering (CAE), said since China's State Council issued a guideline on developing AI in 2017, the nation has made significant progress in AI research and development and industrial layout, especially in computing power and 5G network construction. By the end of 2023, China had over half of the world's 1.57 billion 5G users, according to the World Internet Development Report 2024. It ranked second globally in AI and computing power scale, which has laid a solid foundation for the rapid development of AI. Tatsuo Yamazaki , project professor at the International University of Health and Welfare, said it was very meaningful for Japan and China to discuss strengthening AI governance rules. Fumihiko Kamio , research director of the Nomura Research Institute, echoed his view. He emphasized that the core goal of AI technology is to improve productivity and eliminate obstacles to social development, and called on Chinese and Japanese experts to work together to build an AI governance framework to cope with the global challenges. Deepening international cooperation China put forth the Global AI Governance Initiative in October last year. In July, the UN General Assembly adopted a China -sponsored resolution on enhancing international cooperation on AI capacity-building. The participants spoke highly of the Global Cross-Border Data Flow Cooperation Initiative recently proposed by China . They agreed that AI governance requires global collaboration, especially in the formulation of international standards and the construction of ethical frameworks, where China and Japan can play an active role. Ding Wenhua, academician of the CAE, said China and Japan have both similarities and differences in technology development and governance priorities, so deepening cooperation will bring unique value to global AI governance. " China and Japan should deepen AI technology cooperation between enterprises, work together in AI security research, talent exchange, and jointly explore more possibilities for the application of technology," Wang Zhongyuan , president of the Beijing Academy of Artificial Intelligence, said. Balancing development & risks AI governance refers to the guardrails established to ensure AI systems and tools remain safe and ethical and respect human rights. Xu Zhilong , editor-in-chief of Science and Technology Daily, stressed that AI, as a revolutionary technology, has far-reaching impacts on all areas of society and economy. However, its potential risks such as data leakage and the spread of false information should not be ignored. "Technological progress and security ethics should be developed in a balanced way to ensure that AI technology always serves the progress of human civilization," Xu said. AI governance should not only heed the current technological ethics issues, but also prevent possible long-term risks, such as AI going out of human control, according to Toshio Iwamoto , senior corporate advisor of NTT DATA. He said AI R&D and application should abide by the principles of fairness, transparency, safety and availability. Yuan Yue, chairman of Beijing Dataway Horizon, shared his view from the perspective of regulatory models. "Policy choices should be based on the current status and goals of national technological development," Yuan said, adding that China prefers to provide a more friendly development environment for enterprises while ensuring an effective response to risks. View original content to download multimedia: https://www.prnewswire.com/news-releases/science-and-technology-daily-promoting-ai-governance-jointly-302332050.html SOURCE Science and Technology Daily
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Risk adjusted net present value: What is the current valuation of Compass Pathways’s CTX-471?Summary Airbus is integral to the economy and tech development in Wales through key facilities in Broughton & Newport. Broughton excels in wing manufacturing with emphasis on expanding production capabilities. Newport focuses on cybersecurity ops vital to aviation and defense, displaying advancements in digital innovation. Airbus has large establishments in Broughton and Newport and plays a major role in the economic and technological development of Wales. The company's operations in Wales are centered around two key sites: the Broughton manufacturing facility and the Newport Cyber Innovation Hub. The Broughton facility is famous for manufacturing aircraft wings, while at Newport, R&D in cybersecurity for aerospace and defense are conducted. With aircraft production rates rising to meet demand, Wales's contribution to timely and efficient wing production is critical. The role of Airbus in Wales Airbus has been an essential cog in Wales' economy for more than three decades. Its operation has a significant effect on the economy at both the regional and national level . The aircraft manufacturer is now one of the largest and most significant industrial entities in Wales, providing direct employment, supply chain, and boosting regional GDP. Innovation is central to Airbus operations in Wales. From the manufacturing line to the protection of data, the company's research and development innovations redefine what is possible in aerospace and in cyberspace. Airbus's Broughton site is one of the most technologically advanced aircraft manufacturing plants in the world, which focuses on wings production. New wings will play a key role in helping aviation achieve its net-zero goal, but there are difficulties to consider. Broughton: the heart of wing production The Broughton facility was originally created in 1939 as a shadow factory (a concealed WWII facility to protect and continue war production despite enemy bombings) to manufacture aircraft during the Second World War. It has since become one of Airbus's most important production centers. This plant is involved in the production of wings for the whole family of Airbus commercial aircraft, such as the A320, A330, A350, and A380. Situated over 700 acres and with a workforce of about 6,000, the Broughton plant is one of the largest in Wales. Wings manufactured here are shipped by Airbus Beluga aircraft to final assembly plants in Toulouse, Hamburg, and Seville. This process shows the strategic but intricate supply chain system that exists at Airbus. Over the last couple of years, Airbus has invested heavily in increasing production capacity at Broughton. In 2022, the company stated that it wants to boost the A320 family production rate to 75 per month by 2025 . This expansion is expected to generate up to 450 new positions in the facility, thus an indication of the single-aisle aircraft market growth. In addition, there has been a vast improvement in the technology in production lines. So, the production of wings has been enhanced by automation and digital manufacturing processes over the years. Consequently, the economic impact of Broughton on the economy of Wales is large. According to UK parliament , Airbus has invested over £2 billion in Broughton in the last decade. The company also has a very close relationship with local educational establishments to develop skills development and training schemes. This partnership ensures that there will be an adequate supply of human resources for the production line as well as the growth of the economy. Also, in 2020, in the wake of the COVID-19 pandemic, Airbus transformed the Broughton research site into a production line of ventilators for the health sector, according to Forces News . Fun fact: the Broughton FC, formed in 1946, is a Welsh football club known as 'The Wingmakers' . They use the Hollingsworth Group Stadium which is near Hawarden Airport and their floodlights are retractable because of the airport’s proximity. Newport: cybersecurity and digital innovation Whereas Broughton is heavily involved in actual production, Newport is critical to Airbus’s digital operations. Focusing on cybersecurity, the Newport site covers some of the biggest risks for the aviation and defense industries. As the number of cyber threats increases with the aim of disrupting aerospace infrastructure, Airbus has taken measures to safeguard data, aircraft and communication channels. Airbus set up a Cyber Innovation Hub in Newport in 2019. At the hub level, the organization collaborates with the Welsh Government and other UK defense establishments to build solutions for secure communication and encryption. The 'Ectocryp' is one of the facility’s leading inventions. It is used in government and defense communication and is believed to be the 21st-century equivalent of the Enigma machine. Ectocryp is a range of Airbus cryptographic products designed to ensure secure voice, data, and video communications up to the UK 'Top Secret' level. Newport is not simply a company asset for use exclusively by Airbus but also a valuable component of the United Kingdom’s defense system. Preserving significant aviation facilities and military indicators, the site serves the security of the country and demonstrates Wales as a cybersecurity sector leader. Airbus is very sensitive to security matters in the cyber world, especially after what happened last year. In September 2023, it suffered a data breach that exposed the information of over 3,200 vendors, including names, addresses, phone numbers, and email addresses, according to The Cyber Express . The cyberattack began when a computer belonging to Turkish Airlines was infected with RedLine malware, possibly as a result of downloading a pirated Microsoft .NET framework; subsequently, the attackers were able to infiltrate Airbus systems using stolen login credentials. Challenges and opportunities for Airbus in Wales In November, the UK Government revealed plans to increase funding for the Aerospace Technology Institute (ATI) Programme by £975 million over the next five years to help drive innovation and produce jobs in the aerospace industry, which currently provides work for many people in North Wales, according to North Wales Live . Moreover, £49 million has been earmarked for aerospace in Wales – the development of aircraft engines and helicopters and the strengthening of the UK’s position as a world leader in wings and engines on the way to net-zero aviation. According to UK Aviation News , Airbus also intended to establish a helicopter manufacturing plant in Broughton to assemble H175M helicopters, which the UK Ministry of Defence would use to replace aging Puma aircraft. Nonetheless, in August 2024, Airbus pulled out of the race, arguing that it could not meet the Ministry’s demands and achieve sustainable profitability of the proposed plant in the long run. Still, there are many opportunities available. Airbus aims to maintain its delivery target of 770 aircraft despite supply chain hurdles and its efforts to develop the next generation of environmentally friendly aircraft. These challenges could provide Wales with an opportunity to continue to be the center of aircraft production for the next several decades. Since governments and airlines are searching for solutions that are more environmentally friendly than the current aircraft, Airbus cannot avoid making changes in the production line. Wales could be involved in this transition, especially if new wing designs or sustainable aviation technology are incorporated into the Broughton site. The majority of these orders came from Riyadh Air. However, to counter the problem of production halts during the COVID-19 outbreak, Airbus has come up with several mitigation strategies such as a more diverse supply chain, thus eliminating the risk of supply chain disruption. Recently, the BBC reported that Airbus will cut 477 UK jobs as part of a plan to eliminate more than 2,000 positions worldwide by mid-2026 to improve efficiency and bring down costs in its space business. The firm recorded a 22% profit drop to £1.8bn, with a 7% sales rise to £44.5bn due to supply chain issues in order fulfillment.
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WINDHOEK, Namibia (AP) — Namibia elected its first female leader as Vice President Netumbo Nandi-Ndaitwah was declared the winner Tuesday of a presidential election last week that was tarnished by technical glitches that caused a three-day extension to allow votes to be cast, and rejected as illegal by opposition parties. The 72-year-old Nandi-Ndaitwah won with 57% of the vote, defying predictions that she might be forced into a runoff. Her ruling SWAPO party also retained its parliamentary majority, although by a very thin margin, and extended its 34-year hold on power since the southern African country gained independence from apartheid South Africa in 1990. Namibia, a sparsely populated country of around 3 million on the southwestern coast of Africa, has a reputation for being one of the continent's more stable democracies and the problems around the election have caused consternation. Last Wednesday's vote was marred by shortages of ballot papers and other problems that led election officials to extend voting until Saturday. Opposition parties have said the extension is unconstitutional, and some have pledged to join together in a legal appeal to have the election invalidated. The Electoral Commission of Namibia, which ran the election, rejected opposition calls for a redo of the vote. It has undermined Nandi-Ndaitwah's place in history. She is set to become her country's fifth president since independence and a rare female leader in Africa. She was a member of Namibia's underground independence movement in the 1970s and received part of her higher education in the then-Soviet Union. She was promoted to vice president in February after President Hage Geingob died while in office . Nangolo Mbumba, who became president after Geingob's death, didn't run in the election. The ruling SWAPO party won 51 seats in the parliamentary vote, only just passing the 49 it needed to keep its majority and narrowly avoiding becoming another long-ruling party to be rejected in southern Africa this year. It was SWAPO's worst parliamentary election result. A mood of change has swept across the region, with parties that led their countries out of white minority or colonial rule in neighboring South Africa and Botswana both losing their long-held political dominance. South Africa's African National Congress, which freed the country from the racist system of apartheid, lost its 30-year majority in an election in May and had to form a coalition. Botswana's ruling party was stunningly removed in a landslide in October after governing for 58 years since independence from Britain. Mozambique's long-ruling Frelimo has been accused of rigging an October election and has faced weeks of violent protests against its rule. SWAPO faced similar challenges as those countries, with frustration at high unemployment and economic hardship, especially among young people, driving a desire for era-ending change. In a brief speech after the results were announced late Tuesday night, Nandi-Ndaitwah said Namibians had voted for peace, stability and youth empowerment. “We are going to do what we promised you during the campaigns. Thank you for your confidence and trust in us," she said. Nandi-Ndaitwah was also due to address the nation on Wednesday morning. “SWAPO Wins. Netumbo Wins. Namibia Wins. Now Hard Work,” the ruling party posted on its official account on social media site X. Some opposition parties boycotted the announcement by the Electoral Commission of Namibia at its results center in the capital, Windhoek. The commission has been roundly criticized for its running of the vote, with many angry Namibians complaining they had to wait hours and sometimes over multiple days for the chance to vote. Just over 1 million votes were cast out of 1.4 million registered voters, according to the electoral commission. Panduleni Itula, the leading opposition candidate from the Independent Patriots for Change party, was second in the presidential election with 25% of the vote. His party won the second-largest number of seats in Parliament behind SWAPO. Itula and his party have led the criticism of the vote and said they will lodge their appeal against the election this week. Other opposition parties said they will join that legal challenge. Itula has said that thousands of voters may have been prevented from voting as only some polling stations allowed an extension. "This election has violated the very tenets of our Electoral Act. Namibians deserve the right to choose their leaders freely and fairly, not through a rigged process,” he said. Namibia is a former German colony that came under South African control after World War I and its Black majority was later subjected to some of South Africa’s apartheid policies. SWAPO was at the forefront of the battle for independence from South Africa. While the country has swaths of desert running through it, it has diamond and uranium resources and untapped oil and gas off its coast that is being explored by international companies and could make it a major producer of both. ___ AP Africa news: https://apnews.com/hub/africa The Associated Press
Festus Keyamo stated that to reduce ticket prices, the government will help domestic airlines acquire aircraft at a reduced rate This followed the FCCPC's announcement that it would investigate claims of unfair business practices in the aviation sector The avaition minister claimed that the impact of the exchange rate on all aspects of aviation is the reason for the high cost of tickets CHECK OUT: Don't let unemployment hold you back. Start your digital marketing journey today. Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market. Festus Keyamo, minister of aviation and aerospace development, said his ministry will assist domestic carriers in obtaining aircraft at lower prices to lower ticket costs. Keyamo said this on Sunday's "This Morning" show on Arise News. This followed report that the Federal Competition and Consumer Protection Commission (FCCPC) declared on December 1 that it will look into allegations of unfair business practices in the aviation industry . PAY ATTENTION: Legit.ng Needs Your Help! Take our Survey Now and See Improvements at LEGIT.NG Tomorrow The FCCPC claims that accusations of exploitative ticket pricing, particularly large price increases for advance bookings on specific domestic routes, are the reason behind the investigation into Nigerian airline Air Peace Limited. Read also Air Peace replies FCPPC, insists airfares are affordable: “We are a proud Nigerian airline” The Cable however reported that the accusations of predatory fares were deemed unjust and detrimental by Air Peace. How Keyamo reacts Keyamo commented on the trend, stating that the high ticket prices are a result of the exchange rate's impact on all facets of aviation, including routine maintenance like changing a tire bolt. “What we are therefore doing is to ensure that we expose them to the market across the world where they can assess aircraft on very good terms. This will impact on the prices of tickets and their cost of operation,” he said. “That is what led us to address the issue of the practice direction pursuant to the Cape Town Convention, that is the core of the problem of the aviation industry that this president and the vice president graciously supported us to get to.” A practice directive for the Cape Town Convention (CTC) was signed by the federal government on September 12 to facilitate domestic airline companies' access to dry-lease aircraft. Read also FCCPC speaks on investigating Air Peace over alleged exploitative ticket pricing Keyamo noted that, Nigeria will participate in a significant international aircraft conference to discuss other aviation issues in January. “In January, all the airlines in Nigeria, all insurance companies including the National Insurance Commission and the National Assembly leadership on insurance and aviation are all going to Dublin between the 12th and the 18th,” he said NCAA sends important message to pilots Legit.ng reported that pilots in particular have been cautioned by the Nigeria Civil Aviation Authority not to work for more than one airline at the same time while using the privilege simulators and competency assessments that are allowed by their licenses. According to the authority, such conduct would be seen as a major safety hazard and a violation of NCAA regulations. A circular titled "Prohibition of Ad-Hoc Flight Operators for Multiple Airlines Background ," issued on November 6, 2024, to all aircraft operators was issued by Chris Najomo, the acting director-general of the NCAA. PAY ATTENTION : Legit.ng Needs Your Opinion! That's your chance to change your favourite news media. Fill in a short questionnaire Source: Legit.ng
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