Category: Asia

  • Gold crosses ₹1 lakh on MCX as Israel-Iran tensions fuel safe-haven demand

    Source: Government of India

    Source: Government of India (4)

    Gold prices on the Multi Commodity Exchange (MCX) opened sharply higher on Friday, breaching the ₹1 lakh mark per 10 grams for the first time. The rally was driven by rising geopolitical tensions in the Middle East, which boosted safe-haven demand for the yellow metal. Silver prices also saw gains in early trade.

    MCX gold opened at ₹99,500 per 10 grams, up ₹1,108 or 1.12% from the previous close of ₹98,392. Shortly after, prices surged to ₹1,00,403, crossing the psychological ₹1 lakh threshold. By 12:44 p.m., gold was trading at ₹99,673, up 1.30%.

    Retail gold prices in India reflected the same trend. According to the India Bullion and Jewellers Association (IBJA), as of 12:50 p.m., 22-carat gold was priced at ₹9,679 per gram, while 24-carat gold stood at ₹9,917 per gram.

    Silver mirrored gold’s upward movement. It opened at ₹1,06,450 per kg, up ₹565 or 0.53% from the previous close of ₹1,05,885. It touched a high of ₹1,06,799 and was trading at ₹1,06,328 per kg, up 0.42% at 12:45 p.m.

    The rise in domestic prices is in line with the global trend, where gold hit its highest level in over a month. Spot gold rose 1.3% to $3,428.28 an ounce after reaching its highest level since May 7. U.S. gold futures were up 1.4% at $3,449.60. The metal has gained over 3.5% so far this week.

    The surge in bullion prices comes amid heightened tensions between Israel and Iran. Reports suggest that Israel carried out airstrikes targeting Iran’s nuclear and military facilities, sparking fears of a wider regional conflict.

    Geopolitical uncertainty often drives investors towards gold, widely regarded as a safe-haven asset during crises.

    Colin Shah, Managing Director of Kama Jewelry, commented on the surge: “Gold prices in India hitting an all-time high is on expected lines given the latest developments in geopolitical tensions and the weakening of the Indian rupee.”

    He added that while gold may face short-term resistance, it is likely to hover between ₹1,00,200 and ₹1,00,500 per 10 grams on the MCX, depending on how international economic and political events unfold.

    -IANS

  • Inflation to average 2.5% over next six months: HSBC

    Source: Government of India

    Source: Government of India (4)

    India’s inflation is expected to average around 2.5 per cent over the next six months, according to a report by HSBC Global Research released on Friday.

    The report attributed the softer inflation outlook to a high base effect from last year, as well as stable food prices and adequate grain supplies. Data for June is already trending slightly below May levels, it noted.

    “Vegetable prices in the first 10 days of June have increased in the range of 0–13 per cent, but the high base from last year is helping keep overall inflation in check,” HSBC said in its outlook.

    The monsoon, which began early this year, has slowed recently. Despite this, the sowing of key summer crops such as rice and pulses is reportedly progressing well. Combined with strong cereal production from last year, this has helped keep granaries well-stocked—providing the government with flexibility to release grain stocks gradually and manage food inflation over a longer horizon.

    Headline and core inflation (excluding gold) stood at 2.8 per cent, well below the RBI’s medium-term target of 4 per cent. Food prices remained in deflation for the fifth consecutive month, falling by 0.2 per cent on a month-on-month basis. Prices of items such as fruits, eggs, fish, meat, and sugar showed subdued momentum.

    However, high gold prices continue to exert upward pressure on core inflation. With gold accounting for 1.1 per cent of the Consumer Price Index (CPI) basket, and prices having risen by over 30 per cent in recent months, core inflation remains slightly elevated. Excluding gold, HSBC estimates core inflation at 3.5 per cent year-on-year.

    Looking ahead, the report forecasts that core inflation could ease further in the second half of 2025 if gold prices decline, as projected by HSBC’s commodities team. It also expects external factors to aid disinflation, including a stronger rupee, falling commodity prices, and weaker global demand—particularly from China.

    The RBI has already cut the policy rate by 100 basis points this year and reduced the cash reserve ratio by an equivalent amount. HSBC expects the central bank to maintain a pause in its August and October policy meetings, before delivering one final 25-basis-point rate cut in December. This would bring the repo rate down to 5.25 per cent by the end of the year.

    IANS

  • MIL-OSI: Himax Technologies, Inc. to Hold Annual General Meeting on August 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, June 13, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that the Company will hold its Annual General Meeting (“AGM”) in Taiwan on August 13, 2025.

    Details of the Annual General Meeting are below:

    TIME and DATE: TAIWAN 9:30 a.m., August 13, 2025
       
    LOCATION: HIMAX FAB 2 – TAINAN CITY, TAIWAN
       

    Shareholders will vote to adopt the Company’s 2024 Audited Accounts and Financial Reports, re-elect Mr. Yan-Kuin Su as an Independent Director of the Company, amend and restate the Company’s Amended and Restated 2011 Long-Term Incentive Plan by the Amendment(s) extending its duration for additional five years to September 6, 2030, and transact any other business brought before the 2025 AGM. Copies of the Company’s Proxy Statement and 2011 Long-Term Incentive Plan Amended and Restated as of August 31st, 2016, 2nd Amended and Restated as of August 28th, 2019, 3rd Amended and Restated as of August 16th, 2022, and 4th Amended and Restated as of August 13rd, 2025 have been filed with the SEC.

    Additionally, a copy of Himax Technologies 2024 Annual Report has been posted on the Himax website for download. The Annual Report can be accessed at the following link: https://www.himax.com.tw/investors/financial-information/.

    For additional information and travel arrangements, please contact Company or investor relations representatives listed below.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye™ Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Company Contacts:
      
    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us 
    www.mzgroup.us

    The MIL Network

  • Inflation to average 2.5% over next six months, below RBI forecast: HSBC

    Source: Government of India

    Source: Government of India (4)

    India’s inflation is expected to average around 2.5 per cent over the next six months, significantly lower than the Reserve Bank of India’s (RBI) forecast of 3.5 per cent, according to a report by HSBC Global Research released on Friday.

    The report attributed the softer inflation outlook to a high base effect from last year, as well as stable food prices and adequate grain supplies. Data for June is already trending slightly below May levels, it noted.

    “Vegetable prices in the first 10 days of June have increased in the range of 0–13 per cent, but the high base from last year is helping keep overall inflation in check,” HSBC said in its outlook.

    The monsoon, which began early this year, has slowed recently. Despite this, the sowing of key summer crops such as rice and pulses is reportedly progressing well. Combined with strong cereal production from last year, this has helped keep granaries well-stocked—providing the government with flexibility to release grain stocks gradually and manage food inflation over a longer horizon.

    Headline and core inflation (excluding gold) stood at 2.8 per cent, well below the RBI’s medium-term target of 4 per cent. Food prices remained in deflation for the fifth consecutive month, falling by 0.2 per cent on a month-on-month basis. Prices of items such as fruits, eggs, fish, meat, and sugar showed subdued momentum.

    However, high gold prices continue to exert upward pressure on core inflation. With gold accounting for 1.1 per cent of the Consumer Price Index (CPI) basket, and prices having risen by over 30 per cent in recent months, core inflation remains slightly elevated. Excluding gold, HSBC estimates core inflation at 3.5 per cent year-on-year.

    Looking ahead, the report forecasts that core inflation could ease further in the second half of 2025 if gold prices decline, as projected by HSBC’s commodities team. It also expects external factors to aid disinflation, including a stronger rupee, falling commodity prices, and weaker global demand—particularly from China.

    The RBI has already cut the policy rate by 100 basis points this year and reduced the cash reserve ratio by an equivalent amount. HSBC expects the central bank to maintain a pause in its August and October policy meetings, before delivering one final 25-basis-point rate cut in December. This would bring the repo rate down to 5.25 per cent by the end of the year.

    IANS

  • MIL-OSI Banking: Deputy Secretary-General of ASEAN for ASEAN Political-Security Community delivers keynote remarks on ASEAN Cooperation at the 6th Annual Women’s Leadership Summit

    Source: ASEAN

    Deputy Secretary-General of ASEAN for ASEAN Political-Security Community, H.E. Dato’ Astanah Abdul Aziz, delivered keynote remarks on ASEAN cooperation. Speaking at the 6th Annual Women’s Leadership Summit, organised by the Harpswell Foundation held on 13 June 2025, DSG Dato’ Astanah shared insights on how ASEAN harnesses its collective strength and shared vision to transform challenges into meaningful opportunities for peace, stability, as well as inclusive and sustainable growth.

    The post Deputy Secretary-General of ASEAN for ASEAN Political-Security Community delivers keynote remarks on ASEAN Cooperation at the 6th Annual Women’s Leadership Summit appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • Air India crash: PM Modi visits Ahmedabad crash site, assesses damage, meets injured

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Friday visited the site of the Air India crash in Ahmedabad, where the London-bound flight carrying 242 people went down a day earlier.

    The aircraft crashed minutes after takeoff from Sardar Vallabhbhai Patel International Airport, killing 241 people. Only one passenger – a British national of Indian origin – survived.

    “The scene of devastation is saddening,” PM Modi said in a post on X after reviewing the wreckage. “Met officials and teams working tirelessly in the aftermath. Our thoughts remain with those who lost their loved ones in this unimaginable tragedy.”

    After his visit to the crash site, the Prime Minister proceeded to Ahmedabad Civil Hospital, where he met the injured and offered support to grieving families. He also interacted with doctors and medical staff — including those who had been hurt in the crash — and reviewed the condition of patients receiving treatment.

    Later, the Prime Minister chaired a high-level review meeting in Ahmedabad, joined by Gujarat Chief Minister Bhupendra Patel, Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu, State Home Minister Harsh Sanghavi, and other senior officials from both the Central and State governments.

    Flight AI-171, headed to London Gatwick, crashed into the hostel complex of BJ Medical College at 1:38 p.m. IST on Thursday, triggering a massive blaze and a large-scale emergency response.

    Union Home Minister Amit Shah visited the crash site on Thursday and later chaired a high-level meeting with Civil Aviation Minister Naidu, Gujarat Chief Minister Bhupendra Patel, and senior officials to review relief and rescue measures.

    Shah said DNA testing was underway to confirm the identities of the victims and assured that results would be delivered at the earliest by Gujarat’s Forensic Science Laboratory (FSL) and the National Forensic Sciences University (NFSU). DNA samples of family members arriving from abroad would be collected on arrival, he added.

    A formal investigation into the crash has been launched by the Aircraft Accident Investigation Bureau (AAIB) in accordance with international protocols under the International Civil Aviation Organization (ICAO), said Civil Aviation Minister Naidu. A high-level expert committee is also being formed to examine the incident and suggest safety improvements to prevent future tragedies.

    The United States National Transportation Safety Board (NTSB) announced it would send a team of investigators to India to assist the AAIB.

    “The NTSB will be leading a team of US investigators travelling to India to assist the Aircraft Accident Investigation Bureau with its investigation into the crash of an Air India Boeing 787 in Ahmedabad, India, Thursday,” the agency said, noting that all official updates would come from the Indian government under ICAO’s Annex 13 protocols.

    Rescue and Relief Operations Continue

    Rescue operations continued through the night as teams sifted through debris for missing aircraft parts.

    Parts of the plane’s fuselage were scattered around the smouldering building into which it crashed. The tail of the plane was stuck on top of the building.

    Air India CEO Campbell Wilson reached Ahmedabad early Friday. The airline said it had set up Friends & Relatives Assistance Centres at Ahmedabad, Mumbai, Delhi, and Gatwick airports to support the families of those on board.

    “These centres are facilitating the travel of family members to Ahmedabad,” Air India posted on X. Emergency contact numbers were also issued for those seeking information: 1800 5691 444 for calls from within India, and +91 8062779200 for international callers.

    The Tata Group, which took over Air India in 2022, announced a compensation of Rs 1 crore for the family of each deceased passenger.

    “Tata Group will provide Rs 1 crore to the families of each person who has lost their life in this tragedy. We will also cover the medical expenses of those injured and ensure that they receive all necessary care and support. Additionally, we will provide support in the building up of the B J Medical’s hostel,” Tata Sons Chairman N Chandrasekaran said on X.

    Earlier, Air India released a breakdown of the nationalities of those on board: 169 were Indian nationals, 53 British, seven Portuguese, and one Canadian.

    (With inputs from agencies)

  • DGT, Shell India roll out green skills, EV training programme across five states

    Source: Government of India

    Source: Government of India (4)

    The Directorate General of Training (DGT), under the Ministry of Skill Development and Entrepreneurship (MSDE), has partnered with Shell India to launch a Green Skills and Electric Vehicle (EV) training programme. The initiative, implemented by Edunet Foundation, Shell’s training partner, will be conducted across selected Industrial Training Institutes (ITIs) and National Skill Training Institutes (NSTIs) in Delhi-NCR, Gujarat, Maharashtra, Tamil Nadu, and Karnataka.

    The initiative is part of the Centre’s broader efforts to align skill development with India’s transition to a low-carbon future. It is aimed at preparing students and trainers for emerging opportunities in green energy and e-mobility sectors.

    According to the MSDE, the programme will be delivered in a phased, multi-tier model. Four NSTIs will host a 240-hour advanced EV Technician course covering EV systems, diagnostics, and battery technologies. In parallel, 12 ITIs equipped with Shell-supported laboratories will offer a 90-hour job-oriented EV skills course. An additional 50-hour foundational green skills module is being introduced in ITIs without physical labs to build basic awareness around sustainability.

    All modules have been jointly developed by DGT, Shell India, and Edunet Foundation, and are aligned with industry requirements. More than 250 trainers will also undergo upskilling under a dedicated Training of Trainers (ToT) component. On completion, participants will receive certification jointly issued by Shell and DGT, and receive structured placement support.

    A key feature of the programme is the establishment of specialised EV skill labs within selected institutes, aimed at delivering hands-on training and practical exposure to industry standards.

    “This collaboration with Shell India reflects the government’s deeper commitment to aligning skilling with sustainability,” said Shri Jayant Chaudhary, Minister of State (Independent Charge), MSDE and Minister of State for Education. “Green energy, electric mobility, and the broader climate transition are not just environmental imperatives—they represent a generational opportunity for India to lead through innovation, talent, and enterprise.”

    Speaking on the partnership, Trishaljit Sethi, Director General of Training at MSDE, said the programme is a step towards bringing “cutting-edge training infrastructure and industry-relevant curriculum” to vocational training centres. “By integrating EV technologies into our ITIs and NSTIs, we are equipping students with hands-on experience aligned with real-world demand,” she said.

    Mansi Madan Tripathy, Chairperson, Shell Group of Companies in India and Senior Vice President, Shell Lubricants, Asia-Pacific, said the programme was part of Shell’s commitment to building a low-carbon future. “Through our collaboration with DGT and Edunet Foundation, we are providing students with practical and future-ready expertise in green energy and electric mobility,” she said.

    The launch comes as India intensifies its push towards net-zero emissions. Government schemes such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME), alongside state-level EV policies in Delhi, Maharashtra, and Tamil Nadu, are driving demand for a skilled green workforce.

    The programme is expected to strengthen employability in green mobility sectors while ensuring alignment with national skill development frameworks.

  • Offered fullest support: EAM Jaishankar speaks to UK, Portugal, Canada over Air India plane crash

    Source: Government of India

    Source: Government of India (4)

    External Affairs Minister Dr S. Jaishankar said that he is in touch with his counterparts from the United Kingdom, Portugal, and Canada in the aftermath of the Air India Flight AI-171 crash in Ahmedabad, which claimed 241 lives.

    “In touch with FS @DavidLammy of UK, FM @PauloRangel_pt of Portugal and FM @AnitaAnandMP of Canada regarding the Ahmedabad plane crash. Expressed our profound condolences and offered fullest support in this hour of grief,” Jaishankar wrote in a post on X on Friday.

    He had earlier posted: “Thank all foreign leaders and Governments for their condolences at the tragic loss of lives in the Ahmedabad air crash. We appreciate this deeply.”

    The Air India Boeing 787-8 Dreamliner, operating as Flight AI-171 from Ahmedabad to London Gatwick, crashed shortly after takeoff on June 12, plummeting into a densely populated area near BJ Medical College.

    The crash led to the deaths of 241 of the 242 people on board. The sole survivor, a British national of Indian origin, is currently under medical care.

    Among the deceased were 53 British nationals, 7 Portuguese citizens, and 1 Canadian national, making the tragedy an international one. The Ministry of External Affairs (MEA) has since been coordinating with affected countries, offering full assistance with identification, repatriation, and communication with bereaved families.

    Emergency services continue recovery efforts at the site, while DNA testing is underway at BJ Medical College to identify remains too severely damaged for visual recognition.

    Several families from across India, including those from Gujarat, Maharashtra, and Uttar Pradesh, are still awaiting confirmation of their loved ones.

    The Indian government has assured a thorough investigation into what is now considered one of the deadliest aviation disasters in recent Indian history.

    Authorities from the Directorate General of Civil Aviation (DGCA) and Air India are cooperating with international agencies to determine the cause of the crash.

    (With inputs from agencies)

  • MIL-OSI China: Xi extends condolences to King Charles III over plane crash in India

    Source: People’s Republic of China – State Council News

    BEIJING, June 13 — Chinese President Xi Jinping on Friday sent a message of condolence to Britain’s King Charles III over the heavy British casualties caused by the crash of an Air India flight.

    In his message, Xi expressed shock upon learning of the crash of an Air India flight, which caused heavy British casualties.

    Xi, on behalf of the Chinese government and people, expressed deep condolences to the victims, conveyed sincere sympathies to the bereaved families and the injured, and wished the injured an early recovery.

    On the same day, Chinese Premier Li Qiang also sent a message of condolence to British Prime Minister Keir Starmer.

    MIL OSI China News

  • MIL-OSI China: Xi extends condolences to Indian leaders over plane crash

    Source: People’s Republic of China – State Council News

    BEIJING, June 13 — Chinese President Xi Jinping extended on Friday condolences to Indian President Droupadi Murmu and Prime Minister Narendra Modi respectively over the heavy casualties caused by the crash of an Air India flight.

    In his message, Xi expressed shock upon learning that the crash had caused heavy casualties. On behalf of the Chinese government and people, he conveyed deep condolences over the loss of lives, extended sympathies to the injured and the bereaved families, and wished the injured a swift recovery.

    On the same day, Chinese Premier Li Qiang also sent a message of condolence to Modi.

    MIL OSI China News

  • MIL-OSI China: Xi to attend 2nd China-Central Asia Summit

    Source: People’s Republic of China – State Council News

    BEIJING, June 13 — At the invitation of President of the Republic of Kazakhstan Kassym-Jomart Tokayev, Chinese President Xi Jinping will attend the second China-Central Asia Summit in Astana from June 16 to 18, a Chinese foreign ministry spokesperson announced on Friday.

    MIL OSI China News

  • MIL-OSI Asia-Pac: President Lai meets delegation led by French National Assembly Taiwan Friendship Group Chair Marie-Noëlle Battistel

    Source: Republic of China Taiwan

    Details
    2025-06-05
    President Lai hosts state banquet for President Bernardo Arévalo of Republic of Guatemala  
    At noon on June 5, President Lai Ching-te hosted a state banquet at the Presidential Office for President Bernardo Arévalo of the Republic of Guatemala and his wife. In his remarks, President Lai noted that Taiwan and Guatemala have both undergone an arduous democratization process, and therefore, in face of the continuous expansion of authoritarian influence, must join hands in brotherhood and come together in solidarity to safeguard our hard-earned freedom and democracy. President Lai also expressed hope that both countries will work together and continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. A translation of President Lai’s remarks follows: Once again, I would like to offer a warm welcome to President Arévalo and First Lady Lucrecia Peinado, who are leading this delegation to Taiwan. President Arévalo’s previous visit to Taiwan was 31 years ago. Back then, Taiwan did not have direct presidential elections, and the nation was continuing to make progress toward democratization. Today, 31 years later, Taiwan has conducted direct presidential elections eight times, with three transfers of power between political parties. On this visit, I am sure that President Arévalo will gain a deep appreciation for Taiwan’s free and democratic atmosphere.  Taiwan and Guatemala have both undergone an arduous democratization process. A little over 200 years ago, the people of Guatemala took a stand against colonial oppression, seeking national dignity and the freedom of its people. Eighty-one years ago, President Arévalo’s father, Juan José Arévalo, became Guatemala’s first democratically elected president, establishing an important foundation for subsequent democratic development.  Our two peoples have democracy in their blood. Both know the value of freedom and democracy and are willing to take a stand for those values. Therefore, in face of the continuous expansion of authoritarian influence, our two countries must join hands in brotherhood to respond to threats and challenges, and come together in solidarity to safeguard our hard-earned freedom and democracy. I hope that both countries will work together to continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. I hope that on this visit, in addition to gaining a deeper understanding of Taiwan’s political, economic, and social development, President Arévalo can also reacquaint himself with the democratic vitality and cultural diversity of Taiwan by sampling various gourmet delicacies and once again experiencing the beauty of our scenery and warmth of our people. Guatemala is a very beautiful country. In the future, I hope to have a chance to personally experience that beauty, explore Mayan civilization, and savor local Guatemalan coffee. In closing, I wish the visiting delegation a smooth and successful trip, and beautiful, unforgettable memories. May President Arévalo enjoy the best of health, and may the diplomatic friendship between our two countries endure. President Arévalo then delivered remarks, stating that at different times and by different means, the people of Taiwan and Guatemala have relentlessly sought to defend freedom and democracy. We share the same expectations, he said, and are walking the right path amid today’s complex international circumstances.  President Arévalo stated that Taiwan and Guatemala are true democratic nations, where the government’s goal is to serve all the people. He noted that this is far from easy under current circumstances, as many authoritarian regimes use their long-term hold on power to safeguard the interests of select groups and neglect the wellbeing of the population as a whole. President Arévalo said that last week Guatemala commemorated the 40th anniversary of its constitution, which was enacted in 1985 and is Guatemala’s ultimate guide, setting the foundation for democracy and clearly outlining the path ahead. He said that over the past 40 years, Guatemala has continued to follow the democratic blueprint established by the constitution and end the civil war so that the nation could make the transition to real democracy. Although more than a few ambitious people have attempted to destroy that process from within, he noted, the people of Guatemala have never given up the pursuit of democracy as an ideal. President Arévalo stated that our two sides’ coming together here is due to such shared values as freedom and democracy as well as the idea of serving all the people. He underlined that the governments of both countries will continue to work hard and provide mutual support to smooth out each other’s path of democracy, freedom, and justice. President Arévalo emphasized that the government of Guatemala will always be Taiwan’s ally, and that he firmly believes Taiwan is Guatemala’s most reliable partner on the path of democracy and economic prosperity and development. The president said he hopes this visit will be the first step towards setting a new course for the governments and peoples of both countries. Also in attendance at the banquet were Guatemala Minister of Foreign Affairs Carlos Ramiro Martínez, Minister of the Economy Gabriela García, and Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-06-05
    President Lai welcomes President Bernardo Arévalo of Republic of Guatemala with military honors  
    On the morning of June 5, President Lai Ching-te welcomed with full military honors President Bernardo Arévalo of the Republic of Guatemala and his wife, who are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. In remarks, President Lai noted that over the past few years, bilateral cooperation between Taiwan and Guatemala has grown closer and more diverse, and said that moving forward, based on a foundation of mutual assistance for mutual benefit, we will continue to promote programs in line with international trends, spurring prosperity and development in both our nations. The military honors ceremony began at 10:30 a.m. in the Entrance Hall of the Presidential Office. After a 21-gun salute and the playing of the two countries’ national anthems, President Lai and President Arévalo each delivered remarks. A translation of President Lai’s remarks follows: Today, President Arévalo and First Lady Lucrecia Peinado are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. On behalf of the people and government of the Republic of China (Taiwan), I want to extend my sincerest welcome. Last year, our two countries celebrated the 90th anniversary of diplomatic ties, providing mutual support all along the way. Especially over the past few years, bilateral cooperation has grown closer and more diverse. We have a long record of remarkable results, whether in terms of medicine and public health, education and culture, technological cooperation, or economic and trade exchanges. Moving forward, based on a foundation of mutual assistance for mutual benefit, Taiwan and Guatemala will continue to promote programs in line with international trends. We will continue to strengthen exchange and cooperation for young people, as well as scholarship programs, and actively cultivate high-tech and information and communications technology industry talent, spurring prosperity and development in both our nations. Although separated by a great distance, the peoples of both countries are closely connected by their ideals and values. I am confident that with President Arévalo’s support, bilateral exchanges and cooperation will become closer and more diverse, beginning a very promising new chapter. I wish the visiting delegation a smooth and successful trip. President Arévalo then delivered remarks, saying that on behalf of the government and people of Guatemala, he is honored to visit the Republic of China (Taiwan), this beautiful nation, and to receive full military honors, which reflects the mutual respect between our two nations as well as our solid friendship. Especially as this state visit comes as we celebrate 90 years of formal diplomatic ties, he said, he has brought the foreign minister, economics minister, private secretary to the president, and social communication secretary as members of his delegation, in the hope of our ties embarking on a new chapter. President Arévalo said that Guatemala-Taiwan ties have in recent years been growing steadily on a foundation of mutual understanding and cooperation, making significant progress, and that our peoples have also cultivated sincere friendships and cooperative relationships across many fields. Our nations are especially promoting public health, education, agricultural technology, and infrastructure, he said, key fields which are conducive to economic and social development. He expressed his hope that on such good foundations of the past, we can further strengthen our bilateral ties for the future. President Arévalo stated that through this state visit they not only want to reaffirm the good bilateral ties between our nations, but that they also hope to define a trajectory for the future of our cooperation in the direction of expanding economic cooperation, building economic and trade alliances, and facilitating investment to foster a Taiwan-Guatemala relationship that benefits both peoples. He then expressed gratitude to the people of Taiwan for helping Guatemala over the past 90 years and reaffirmed the unwavering support of Guatemala for the Republic of China (Taiwan). On the occasion of this visit, he said, he hopes to extend a friendly hand to the people of Taiwan, adding that he looks forward to our nations continuing to take major steps forward on the road of mutual assistance and prosperity. Also in attendance at the welcome ceremony were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman, and members of the foreign diplomatic corps in Taiwan.  

    Details
    2025-06-03
    President Lai confers decoration on President Hilda C. Heine of Republic of the Marshall Islands, hosts state banquet  
    At noon on June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, conferred a decoration upon President Hilda C. Heine of the Republic of the Marshall Islands, and hosted a state banquet for President Heine and her husband at the Presidential Office. In remarks, President Lai thanked President Heine for her commitment to deepening the diplomatic partnership between our nations and speaking up for Taiwan in the international arena. He also expressed hope for Taiwan and the Marshall Islands to work together to address various challenges through an even greater diversity of exchanges, and that together, we can contribute even more to peace, stability, and development throughout the Pacific region. At the decoration ceremony, President Lai personally conferred the Order of Brilliant Jade with Grand Cordon on President Heine before delivering remarks, a translation of which follows:  The Marshall Islands was the first Pacific ally that I visited after taking office as president. When I arrived there, I was immediately drawn to its beautiful scenery. And I received a very warm welcome from the local people. This gesture showed the profound friendship between our two nations. I was truly touched. I also remember trying your nation’s special Bob Whisky for the first time. The flavor was as unique and impressive as the landscape of the Marshall Islands.  In addition to welcoming our distinguished guests today, we also presented President Heine with the Order of Brilliant Jade with Grand Cordon. On behalf of the people of Taiwan, I want to thank President Heine for her commitment to deepening the diplomatic partnership between our nations, and for staunchly speaking up for Taiwan in the international arena. Both I and the people of Taiwan are profoundly grateful to President Heine for her friendship and support. Over the past few years, cooperation between Taiwan and the Marshall Islands has grown ever closer. And this visit by our distinguished guests will allow our two countries to further expand areas of bilateral exchange. I have always believed that only through mutual assistance and trust can two countries build a longstanding and steadfast partnership. I once again convey my sincere aspiration that Taiwan and the Marshall Islands work together to address various challenges through an even greater diversity of exchanges. Together, we can contribute even more to peace, stability, and development throughout the Pacific region. In closing, I want to thank President Heine and First Gentleman Thomas Kijiner, Jr. for leading this delegation to Taiwan, which deepens the foundations of our bilateral relationship. May our two nations enjoy a long and enduring friendship. President Heine then delivered remarks, stating that she felt especially privileged to receive the Order of Brilliant Jade with Grand Cordon of the Republic of China (Taiwan), and humbly accepted the honor with the utmost gratitude, humility, and deep responsibility. This is a deep responsibility, she said, because she understands that since its inception in 1933, this order has been bestowed upon a select few. She then thanked President Lai for this great honor. President Heine stated that the banquet was not just a celebration of our bilateral friendship, but a true reflection of the generosity of the Taiwan spirit and a testament to the enduring ties between our nations, founded on shared values and aspirations, including a respect for the rule of law, the preservation of human dignity, and a deep commitment to democracy. President Heine stated that the Taiwan-Marshall Islands partnership continues to evolve through practical cooperation and mutual support. In recent years, she said, our countries have worked hand in hand across a range of vital sectors, including the recent opening of the Majuro Hospital AI and Telehealth Center and the ongoing and successful Taiwan Health Center, various technical training and scholarship programs, and various climate change adaptation projects in renewable energy, coastal resilience, and sustainable agriculture.   President Heine emphasized that the Marshall Islands continues to be a proud and vocal supporter of Taiwan’s meaningful participation in the United Nations system and other international organizations. Taiwan’s exclusion from these platforms, she said, is not only unjust, but is bad for the world, and the global community needs Taiwan’s voice and expertise.  President Heine also expressed sincere appreciation to all of the Taiwanese friends who have contributed their efforts to deepening bilateral relations, including government officials, healthcare workers, teachers, engineers, and volunteers. The people of the Marshall Islands, she said, deeply appreciate and value everyone’s efforts and service. President Heine said that as we celebrate our partnership, let us look to the future with hope and determination, continue to work together, learn from one another, and support one another to champion a world where all nations can chart their own course based on peace and international law. Also attending the state banquet were Marshall Islands Council of Iroij Chairman Lanny Kabua, Minister of Foreign Affairs and Trade Kalani R. Kaneko, Minister of Finance David Paul, Nitijela Standing Committee on Foreign Affairs and Trade Chairperson Joe Bejang, and Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.  

    Details
    2025-06-03
    President Lai and President Hilda C. Heine of Marshall Islands hold bilateral talks and witness signing of agreements
    On the morning of June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Hilda C. Heine of the Republic of the Marshall Islands at the Presidential Office following a welcome ceremony with military honors for her and her husband. The leaders also jointly witnessed the signing of a letter of intent for sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund. President Lai then presided over a launch ceremony for a loan program to purchase aircraft. In remarks, President Lai thanked the government and the Nitijela (parliament) of the Marshall Islands for their longstanding support for Taiwan’s international participation and for voicing staunch support for Taiwan at numerous international venues. President Lai said that Taiwan looks forward to continuing to deepen its diplomatic partnership with the Marshall Islands and build an even closer cooperative relationship across a range of fields, engaging in mutual assistance for mutual benefits and helping each other achieve joint and prosperous development to yield even greater well-being for our peoples. A translation of President Lai’s remarks follows: I once again warmly welcome President Heine, First Gentleman Thomas Kijiner, Jr., and our guests to Taiwan. During my visit to the Marshall Islands last year, I said that Taiwan and the Marshall Islands are truly a family. When Vice President Hsiao and I took office last year, President Heine led a delegation to Taiwan. It is now one year since our inauguration, and I am delighted to see President Heine once again, just as if I were seeing family arrive from afar. Through my visit to the Marshall Islands, I gained a profound sense of the friendship between the peoples of our two nations, well-demonstrated by bilateral exchanges in such areas as healthcare, agriculture, and education. And it is thanks to President Heine’s longstanding support for Taiwan that our countries have been able to further advance collaboration on even more issues, including women’s empowerment and climate change. In recent years, the geopolitical and economic landscape has changed rapidly. We look forward to Taiwan and the Marshall Islands continuing to deepen our partnership and build an even closer cooperative relationship. In just a few moments, President Heine and I will witness the signing of several documents, including a memorandum of understanding and a letter of intent, to expand bilateral cooperation in such fields as sports, education, and transportation. Taiwan will take concrete action to work with the Marshall Islands and advance mutual prosperity and development, writing a new chapter in our diplomatic partnership. I would also like to take this opportunity to express gratitude to the government and Nitijela of the Marshall Islands. In recent years, the Nitijela has passed annual resolutions backing Taiwan’s international participation, and President Heine and Marshallese cabinet members have been some of the strongest advocates for Taiwan’s international participation, voicing staunch support for Taiwan at numerous international venues. Building on the pillars of democracy, peace, and prosperity, Taiwan will continue to work with the Marshall Islands and other like-minded countries to deepen our partnerships, engage in mutual assistance for mutual benefits, and help one another achieve joint and prosperous development. I have every confidence that the combined efforts of our two nations will yield even greater well-being for our peoples and see us make even more contributions to the world. President Heine then delivered remarks, and began by conveying warm greetings of iokwe from the people and government of the Republic of the Marshall Islands to the people and government of the Republic of China (Taiwan). She said she was deeply honored to be in Taiwan for an official visit, and extended appreciation to President Lai and his government for their gracious invitation and warm welcome. President Heine stated that this year marks 27 years of diplomatic ties between our two nations, and that they are proud of this enduring friendship. This special and enduring relationship, she said, is grounded in our shared Austronesian heritage, and strengthened by mutual respect for each other’s democratic systems and our steadfast commitment to the core values of freedom, justice, and the rule of law. President Heine stated that Taiwan’s continued support has been invaluable to the people and national development of the Marshall Islands, particularly in the areas of health, education, agriculture, and climate change. She also expressed deep appreciation to Taiwan for providing Marshallese students with opportunities to study in Taiwan, and for the care extended to Marshallese who travel here for medical treatment. President Heine also announced that she would be presenting a copy of a resolution by the people and government of the Republic of the Marshall Islands reiterating their appreciation for the support provided by the people and government of the Republic of China (Taiwan), and calling on the United Nations to take immediate action to resolve the inappropriate exclusion of Taiwan’s 23 million people from the UN system. She added that she looked forward to the bilateral discussions later that day, and to continuing the important work that both countries carry out together. After the bilateral talks, President Lai and President Heine witnessed the signing of a letter of intent regarding sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund by Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Marshallese Minister of Foreign Affairs and Trade Kalani R. Kaneko. President Lai then presided over a launch ceremony for a loan program to purchase aircraft, marking the formal beginning of Taiwan-Marshall Islands air transport cooperation. The visiting delegation also included Council of Iroij Chairman Lanny Kabua, Minister of Finance David Paul, and Nitijela Standing Committee on Foreign Affairs and Trade Chair Joe Bejang. They were accompanied to the Presidential Office by Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.

    Details
    2025-06-03
    President Lai welcomes President Hilda C. Heine of Republic of the Marshall Islands with military honors  
    President Lai Ching-te welcomed President Hilda C. Heine of the Republic of the Marshall Islands and her husband on the morning of June 3 with full military honors. In remarks, President Lai thanked President Heine and the people and government of the Marshall Islands for demonstrating such high regard for our nations’ diplomatic ties. The president said that over our 27 years of diplomatic relations, our cooperation in healthcare, agriculture, fisheries, education and training, and climate change has yielded many positive results. And moving ahead, he said, Taiwan will continue to deepen collaboration across all domains for mutual prosperity and growth. The welcome ceremony began at 10:30 a.m. in the plaza fronting the Presidential Office. President Lai and President Heine each delivered remarks after a 21-gun salute, the playing of the two countries’ national anthems, and a review of the military honor guard. A translation of President Lai’s remarks follows: On behalf of the people and government of the Republic of China (Taiwan), it is a great pleasure to welcome President Heine, First Gentleman Thomas Kijiner, Jr., and their delegation with full military honors as they make this state visit to Taiwan. When I traveled to the Marshall Islands on a state visit last December, I was received with great warmth and courtesy. I once again thank President Heine and the people and government of the Marshall Islands for demonstrating such high regard for our nations’ diplomatic ties. Taiwan and the Marshall Islands share Austronesian cultural traditions, and we are like-minded friends. Throughout our 27 years of diplomatic relations, we have always engaged with each other in a spirit of reciprocal trust and mutual assistance. Our cooperation in healthcare, agriculture, fisheries, education and training, and climate change has yielded many positive results. This is President Heine’s first state visit to Taiwan since taking office for a second time. We look forward to engaging our esteemed guests in in-depth discussions on issues of common concern. And moving ahead, Taiwan will continue to deepen collaboration with the Marshall Islands across all domains for mutual prosperity and growth. In closing, I thank President Heine, First Gentleman Kijiner, and their entire delegation for visiting Taiwan. I wish you all a pleasant and successful trip.  A transcript of President Heine’s remarks follows: Your Excellency President Lai Ching-te, Vice President [Bi-khim] Hsiao, honorable members of the cabinet, ambassadors, distinguished guests, ladies and gentlemen: It is my pleasure to extend warm greetings of iokwe on behalf of the people and the government of the Republic of the Marshall Islands. I wish to also convey my appreciation to Your Excellency President Lai, for the hospitality and very warm welcome – kommol tata. This visit marks my seventh official state visit to this beautiful country. It’s a testament to my strong commitment to further deepening ties between the Republic of the Marshall Islands and the Republic of China (Taiwan). During this visit, I look forward to engaging in meaningful discussions with Your Excellency President Lai to further strengthen the bilateral relationship between our two nations and our peoples.  For over a quarter-century, Taiwan has been a strong ally and friend to the Marshall Islands. Our partnership has thrived across many sectors, including education, healthcare, infrastructure, and economic development. Through Taiwan’s generous support and collaboration, we have made significant progress in improving the lives of our people, empowering our communities, and fostering sustainable growth. The Marshall Islands deeply values our partnership with Taiwan and appreciates Taiwan’s support over the years. Despite our small size and limited voice on the global stage, the Marshall Islands deeply cherishes our friendship with Taiwan, and to that end, I wish to reaffirm my government’s commitment to Taiwan’s meaningful participation in the United Nations system. Taiwan has consistently demonstrated its commitment to the principles of democracy, human rights, and the rule of law. In light of current constraints in global affairs, it is now more urgent than ever that the international community of nations recognize the fundamental rights of the 23 million Taiwanese people and recognize Taiwan’s aspiration to engage fully in global affairs. It is with this in mind that I wish to reiterate to Your Excellency President Lai, the Taiwanese people, and the world that under my government, Marshall Islands will continue to acknowledge Taiwan’s contribution on the global stage and urge like-minded countries to advocate for Taiwan’s meaningful engagement in the international arena. In closing, may I once again extend our sincere appreciation to Your Excellency President Lai, the people and government of the Republic of China (Taiwan), for your warm welcome.  Also in attendance at the welcome ceremony were Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands, Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman, and members of the foreign diplomatic corps in Taiwan.  

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI: Temenos named best-selling core banking provider for 20th consecutive year by IBS Intelligence

    Source: GlobeNewswire (MIL-OSI)

    GRAND-LANCY, Switzerland, June 13, 2025 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN), a global leader in banking technology, today announced it has been recognized as the #1 best-selling software provider in 13 categories in the IBSi Sales League Table (SLT) 2025.

    Temenos ranked #1 for core banking for the 20th consecutive year, while also topping the table for categories covering digital, payments, wealth and Islamic banking. The results highlight the breadth of Temenos’ leadership as the banking technology provider of choice across multiple product segments.

    The IBS Intelligence Annual Sales League Table is an annual benchmarking exercise, which is now in its 24th year and is based on the number of new customer contracts signed in a calendar year. The SLT is recognized as the barometer for financial technology providers’ sales performance across the banking industry.

    Jean-Pierre Brulard, CEO, Temenos, said: “I’m delighted to see Temenos top the rankings in 13 different categories in the IBSi Sales League Table, highlighting the strength and breadth of our market-leading capabilities. Being named the number one core banking software provider globally for 20 years in a row reflects both our customer-centric focus and relentless investment in innovation. As we continue to lead banking forward with the launch of game-changing Generative and Agentic AI capabilities, the advanced functionality, agility and scalability of our solutions makes Temenos a compelling choice for banks of all sizes around the world.”

    Temenos ranked #1 In the IBSi SLT 2025 across the following 13 categories:

    • Universal Banking – Core
    • Digital Banking and Channels
    • Payments – Retail
    • Private Banking and Wealth Management
    • Risk Management
    • Treasury and Risk Management
    • Digital Only Banks
    • Datawarehouse & BI
    • Islamic Banking – Universal Banking – Core
    • Islamic Banking – Risk Management
    • Islamic Banking – Payments – Retail
    • Islamic Banking – Wholesale Banking Treasury
    • Islamic Banking – Digital Banking and Channels

    With its market-leading core banking suite and best-in-class modular solutions, Temenos offers financial institutions choice, flexibility and a proven path to banking modernization – underpinned with cloud-native architecture, and embedded AI. Trusted by over 950 core banking clients and over 650 digital clients around the world, Temenos software can be deployed on-premises, in the cloud, or as SaaS.

    Investing around 20% of revenues in R&D, Temenos continues to enhance its capabilities. Recent innovations include the launch of a Gen AI Copilot to help financial institutions design, launch, test and optimize financial products faster, as well as an FCM AI Agent that can help banks significantly reduce false positives in sanctions screening.

    Nikhil Gokhale, Director – Research & Digital Properties at IBS Intelligence, commented: “The 2025 edition of the IBSi Sales League Table reflects the growing maturity of digital transformation across the global banking industry. With sustained investment in modern core platforms, intelligent digital channels, and real-time payments, banks are clearly prioritizing agility, scale, and customer experience. Temenos has once again demonstrated exceptional global leadership, with standout performance in Core, Digital, Payments, and Risk. On behalf of IBSi, I extend my congratulations to the Temenos team for consistently being at the forefront of innovation and execution. The SLT continues to serve as a trusted benchmark for momentum in banking technology worldwide.”

    Recognition in the IBSi SLT is the latest industry accolade for Temenos, which was also named a Leader in the 2024 IDC MarketScapes for Digital Core Banking Platforms in North America, EMEA and Asia Pacific and in the Forrester Wave™: Digital Banking Processing Platforms, Q4 2024.

    The MIL Network

  • MIL-OSI Economics: ASEAN digital senior officials calls for collaboration in shaping ASEAN’s Digital Future

    Source: ASEAN

    SIEM REAP, 13 JUNE 2025 – The 2025 ASEAN Digital Senior Officials’ Meeting and ASEAN Telecommunications Regulators’ Council (ADGSOM – ATRC) Joint Working Group and Related Meetings with Dialogue and Development Partners took place on 9-13 June 2025 in Siem Reap, Cambodia.
     
    The 5-day event was chaired by Thailand as the ADGSOM Chair for 2025. The meeting discussed the on-going 2025 ADGSOM and ATRC activities, and deliberated the proposed ADGSOM and ATRC projects for the 2026 Work Cycle for which will be submitted to the 6th ADGSOM for endorsement and the 6th ADGMIN for approval. Additionally, the 15th Sub-Working Group on Spectrum Management (SSM-15) and the 16th ASEAN Network Security Action Council (ANSAC) were held on the sidelines, to discuss ASEAN Member States’ (AMS) collective measures in tackling spectrum and cybersecurity issues, respectively.
     
    Under the theme of Thailand’s ADGMIN Chairmanship in 2025, “Secure, Innovative, Inclusive: Shaping ASEAN’s Digital Future” is essential to fully unlock the potential of ASEAN Digital Economy by harnessing the transformative power of artificial intelligence (AI) which requires multiple stakeholder’s collaboration including policy makers, private sector and the community towards shaping ASEAN’s Digital Future.
     
    The Meeting welcomed the progress of a joint collaboration between ADGSOM and the ASEAN Foundation to organise the ASEAN Digital Forum 2026 at the 6th ADGMIN in early 2026 in Viet Nam. The meeting also welcomed the progress of the ASEAN Digital Outlook 2026 under ASEAN Foundation’s AI Ready ASEAN initiative, supported by Google.org.
     
    As the ASEAN Digital Masterplan 2025 (ADM2025) approaches its conclusion, the meeting reaffirmed the importance of sustaining the region’s digital transformation momentum through the upcoming ASEAN Digital Masterplan 2030 (ADM2030). ADM2030 will serve as a visionary framework that will set the pace for ASEAN’s digital future over the next 5 years. In this regard, Viet Nam has been entrusted to lead the development of ADM2030 in 2025, targeted for endorsement at the 6th ADGMIN in early 2026.
     
     
    ###
     

    Photo Credit: Ministry of Post and Telecommunications of Cambodia
    The post ASEAN digital senior officials calls for collaboration in shaping ASEAN’s Digital Future appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI China: Unlocking consumption key to sustaining China’s growth: World Bank

    Source: People’s Republic of China – State Council News

    Unleashing consumption potential will help sustain economic growth in China, according to a World Bank report published in Beijing on Friday.

    Policy support has helped boost China’s consumption and spurred a rise in home sales in major cities, with the economy maintaining growth momentum in early 2025, the report said.

    “Household consumption will be key to sustaining growth amid external and domestic economic challenges,” said Mara Warwick, World Bank division director for China, Mongolia and Korea.

    She said stronger social safety nets, especially for migrant and temporary workers, would encourage more spending by improving financial security and reducing the need for precautionary saving.

    By expanding public investment and providing targeted support to households, China’s proactive fiscal policy is expected to support China’s economic growth, the report stated.

    China’s infrastructure and manufacturing investment has responded strongly with faster increases to policy support, such as accelerated issuance and disbursement of government bonds, policy incentives for firms to upgrade equipment, and targeted support for priority sectors, it noted.

    China’s gross domestic product grew by 5.4 percent year on year in the first quarter of 2025, while retail sales of consumer goods, a major indicator of the country’s consumption strength, rose 4.7 percent year on year in the first four months of 2025, official data showed. 

    MIL OSI China News

  • Delhi heatwave likely to ease as IMD forecasts rain today

    Source: Government of India

    Source: Government of India (4)

    North India, currently reeling under intense heat, is expected to get some relief soon. The India Meteorological Department (IMD) has issued warning of thunderstorms, lightning and rain on the night of June 13.

    IMD has advised people to remain alert as strong winds are likely to reach speeds of 40–50 km/h, particularly on the night of June 13 and morning of June 14. People are advised to avoid standing in open areas or under trees during this time.

    On June 13, the maximum temperature is expected to hover around 42°C, with a minimum of around 31°C and humidity levels up to 67%. The IMD has warned that hot and humid conditions will persist during the day, but there is a possibility of thunderstorms with rain after the evening.

    From June 14, the mercury is likely to reach 41°C, while the minimum will stay around 29°C. On June 15, a further dip is expected, with the maximum at 40°C and the minimum at 28°C. The forecast for these days includes “thunderstorms with rain,” which should bring some much-needed relief from the heat.

    On June 16 and 17, the sky is expected to remain cloudy with light to moderate rainfall. Maximum temperatures are likely to settle around 38°C, with minimums at 27–28°C.

    Rain and thunderstorms are also expected to continue on June 18 and 19. Minimum temperatures are expected to be around 26°C, and maximums between 37–38°C, with humidity levels hovering around 80–85%. The rain will also prove beneficial for farmers, as it will help increase soil moisture aiding in the sowing of Kharif crops.

    Meanwhile, health experts advise caution during this transition period, as the risk of viral infections may rise.

    The IMD has urged citizens to remain vigilant, particularly on the night of June 13 and morning of June 14, when strong winds and lightning are expected. People are advised to avoid standing in open areas or under trees during this time.

    According to the State Load Dispatch Centre (SLDC), the peak power demand in Delhi reached 8,423 MW at 3:06 PM on Thursday. This figure represents the highest recorded load in the city up to June 12.

  • New training initiative launched to prepare youth for green jobs

    Source: Government of India

    Source: Government of India (4)

    The Directorate General of Training (DGT), under the Ministry of Skill Development and Entrepreneurship (MSDE), has partnered with Shell India to launch a Green Skills and Electric Vehicle (EV) training programme. The initiative, implemented by Edunet Foundation, Shell’s training partner, will be conducted across selected Industrial Training Institutes (ITIs) and National Skill Training Institutes (NSTIs) in Delhi-NCR, Gujarat, Maharashtra, Tamil Nadu, and Karnataka.

    The initiative is part of the Centre’s broader efforts to align skill development with India’s transition to a low-carbon future. It is aimed at preparing students and trainers for emerging opportunities in green energy and e-mobility sectors.

    According to the MSDE, the programme will be delivered in a phased, multi-tier model. Four NSTIs will host a 240-hour advanced EV Technician course covering EV systems, diagnostics, and battery technologies. In parallel, 12 ITIs equipped with Shell-supported laboratories will offer a 90-hour job-oriented EV skills course. An additional 50-hour foundational green skills module is being introduced in ITIs without physical labs to build basic awareness around sustainability.

    All modules have been jointly developed by DGT, Shell India, and Edunet Foundation, and are aligned with industry requirements. More than 250 trainers will also undergo upskilling under a dedicated Training of Trainers (ToT) component. On completion, participants will receive certification jointly issued by Shell and DGT, and receive structured placement support.

    A key feature of the programme is the establishment of specialised EV skill labs within selected institutes, aimed at delivering hands-on training and practical exposure to industry standards.

    “This collaboration with Shell India reflects the government’s deeper commitment to aligning skilling with sustainability,” said Shri Jayant Chaudhary, Minister of State (Independent Charge), MSDE and Minister of State for Education. “Green energy, electric mobility, and the broader climate transition are not just environmental imperatives—they represent a generational opportunity for India to lead through innovation, talent, and enterprise.”

    Speaking on the partnership, Trishaljit Sethi, Director General of Training at MSDE, said the programme is a step towards bringing “cutting-edge training infrastructure and industry-relevant curriculum” to vocational training centres. “By integrating EV technologies into our ITIs and NSTIs, we are equipping students with hands-on experience aligned with real-world demand,” she said.

    Mansi Madan Tripathy, Chairperson, Shell Group of Companies in India and Senior Vice President, Shell Lubricants, Asia-Pacific, said the programme was part of Shell’s commitment to building a low-carbon future. “Through our collaboration with DGT and Edunet Foundation, we are providing students with practical and future-ready expertise in green energy and electric mobility,” she said.

    The launch comes as India intensifies its push towards net-zero emissions. Government schemes such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME), alongside state-level EV policies in Delhi, Maharashtra, and Tamil Nadu, are driving demand for a skilled green workforce.

    The programme is expected to strengthen employability in green mobility sectors while ensuring alignment with national skill development frameworks.

  • MIL-OSI Banking: ASEAN digital senior officials calls for collaboration in shaping ASEAN’s Digital Future

    Source: ASEAN

    SIEM REAP, 13 JUNE 2025 – The 2025 ASEAN Digital Senior Officials’ Meeting and ASEAN Telecommunications Regulators’ Council (ADGSOM – ATRC) Joint Working Group and Related Meetings with Dialogue and Development Partners took place on 9-13 June 2025 in Siem Reap, Cambodia.
     
    The 5-day event was chaired by Thailand as the ADGSOM Chair for 2025. The meeting discussed the on-going 2025 ADGSOM and ATRC activities, and deliberated the proposed ADGSOM and ATRC projects for the 2026 Work Cycle for which will be submitted to the 6th ADGSOM for endorsement and the 6th ADGMIN for approval. Additionally, the 15th Sub-Working Group on Spectrum Management (SSM-15) and the 16th ASEAN Network Security Action Council (ANSAC) were held on the sidelines, to discuss ASEAN Member States’ (AMS) collective measures in tackling spectrum and cybersecurity issues, respectively.
     
    Under the theme of Thailand’s ADGMIN Chairmanship in 2025, “Secure, Innovative, Inclusive: Shaping ASEAN’s Digital Future” is essential to fully unlock the potential of ASEAN Digital Economy by harnessing the transformative power of artificial intelligence (AI) which requires multiple stakeholder’s collaboration including policy makers, private sector and the community towards shaping ASEAN’s Digital Future.
     
    The Meeting welcomed the progress of a joint collaboration between ADGSOM and the ASEAN Foundation to organise the ASEAN Digital Forum 2026 at the 6th ADGMIN in early 2026 in Viet Nam. The meeting also welcomed the progress of the ASEAN Digital Outlook 2026 under ASEAN Foundation’s AI Ready ASEAN initiative, supported by Google.org.
     
    As the ASEAN Digital Masterplan 2025 (ADM2025) approaches its conclusion, the meeting reaffirmed the importance of sustaining the region’s digital transformation momentum through the upcoming ASEAN Digital Masterplan 2030 (ADM2030). ADM2030 will serve as a visionary framework that will set the pace for ASEAN’s digital future over the next 5 years. In this regard, Viet Nam has been entrusted to lead the development of ADM2030 in 2025, targeted for endorsement at the 6th ADGMIN in early 2026.
     
     
    ###
     

    Photo Credit: Ministry of Post and Telecommunications of Cambodia
    The post ASEAN digital senior officials calls for collaboration in shaping ASEAN’s Digital Future appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI Asia-Pac: Draft Pok Fu Lam Outline Zoning Plan approved

    Source: Hong Kong Government special administrative region

    Draft Pok Fu Lam Outline Zoning Plan approved 
    The approved OZP has incorporated amendments, which mainly involve rezoning the 4.72-hectare site for the proposed Global Innovation Centre by the University of Hong Kong (HKU) in Pok Fu Lam. To allow the HKU to review and adjust its proposal in response to the views expressed by the representers during the plan-making process and to consult relevant stakeholders including the local community before submitting its revised proposal for the Government’s consideration, the site is zoned “Undetermined” in the interim. Upon the HKU’s completion of the review and engagement with the community on the revised proposal, further rezoning of the site will be processed in accordance with the Town Planning Ordinance.
     
    Other amendments include rezoning narrow strips of land along Victoria Road and a strip of land to the south of Wah Mei House, Wah Fu Estate, to suitable zonings to reflect the existing alignment of Victoria Road and the land grant boundary of Wah Fu Estate.
     
    The Notes and Explanatory Statement of the OZP have been amended taking into account the above amendments. Opportunity is also taken to update the general information of various land use zones and the planning circumstances, where appropriate.
     
    The approved Pok Fu Lam OZP No. S/H10/23 is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Hong Kong District Planning Office, and (iv) the Southern Home Affairs Enquiry Centre.
     
    Copies of the approved OZP are available for sale at the Map Publications Centre in North Point. The electronic version of the OZP can be viewed at the Town Planning Board’s website (www.tpb.gov.hkIssued at HKT 16:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Draft Tuen Mun Outline Zoning Plan approved

    Source: Hong Kong Government special administrative region

    Draft Tuen Mun Outline Zoning Plan approved 
         “The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Tuen Mun area,” a spokesman for the Town Planning Board said today (June 13). 
     
    The planning scheme area, covering an area of about 2 260 hectares, is located at the head of Castle Peak Bay in the North West New Territories. It is bounded by the ridges of Castle Peak to the west, Lam Tei Interchange of Castle Peak Road to the north, and Tai Lam Country Park to the east. To the southeast, it extends to Siu Lam Interchange of Tuen Mun Road, while to the southwest, it extends to the power station at Tap Shek Kok.
     
    The approved OZP has incorporated amendments shown on the draft Tuen Mun OZP No. S/TM/40, which mainly involve (i) rezoning a site to the northwest of Light Rail Transit Goodview Garden Station from “Government, Institution or Community” (“G/IC”) to “Residential (Group A)29” (“R(A)29”) for private residential development; (ii) rezoning a site being part of the residential development ‘Oceania Heights’ from “G/IC” to “R(A)” to reflect the as-built conditions; (iii) rezoning a site to the east of Tuen Mun Town Plaza from “Green Belt” (“GB”) and an area shown as ‘Road’ to “R(A)30” for private residential development; and (iv) rezoning a site to the west of Hing Fu Street from “GB” to “G/IC(5)” for columbarium use.
     
    The Notes and Explanatory Statement of the OZP have been amended to reflect the above amendments. Opportunity is also taken to update the general information of various land use zonings and the planning circumstances, where appropriate.
     
    The approved Tuen Mun OZP No. S/TM/41 is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Tuen Mun and Yuen Long West District Planning Office, (iv) the Tuen Mun District Office and (v) the Tuen Mun Rural Committee.
     
    Copies of the approved OZP are available for sale at the Map Publications Centre in North Point. The electronic version of the OZP can be viewed on the Town Planning Board’s website (www.tpb.gov.hkIssued at HKT 16:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Approved Lam Tei and Yick Yuen Outline Zoning Plan amended

    Source: Hong Kong Government special administrative region

    Approved Lam Tei and Yick Yuen Outline Zoning Plan amended* The Secretariat of the Town Planning Board reserves the right to require the representer to provide identity proof for verification.Issued at HKT 16:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Approved Cheung Sha Wan Outline Zoning Plan amended

    Source: Hong Kong Government special administrative region

    Approved Cheung Sha Wan Outline Zoning Plan amended 
    The Notes and Explanatory Statement of the OZP are amended to take into account the above amendments. Opportunity is also taken to update the general information of various land use zones and the planning scheme area, where appropriate. 
    Any person may make written representations in respect of the amendments to the Secretary of the Town Planning Board on or before August 13. Any person who intends to make a representation is advised to read the Town Planning Board Guidelines No. 29C on “Submission and Processing of Representations and Further Representations” (TPB PG-No. 29C).Issued at HKT 16:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: UN chief expresses condolences over plane crash in India

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    UNITED NATIONS, June 13 (Xinhua) — United Nations Secretary-General Antonio Guterres is deeply saddened by the news of the crash of an Air India plane that killed more than 200 people, Deputy Spokesman for the Secretary-General Farhan Haq said on Thursday.

    A. Guterres expresses his sincere condolences to the families of the victims, the people and the Government of India, and all countries whose citizens have suffered as a result of this tragedy. He wishes a speedy and full recovery to those injured, F. Haq said in a statement.

    An Air India flight to London with 242 people on board crashed on Thursday shortly after takeoff from Ahmedabad airport in the western Indian state of Gujarat.

    The country’s Foreign Ministry said there was a high death toll, without giving exact figures.

    The Boeing 787-8 had 169 Indians, 53 British citizens, seven Portuguese citizens, one Canadian and 12 crew members on board. The plane crashed into a medical college dormitory. –0–

    MIL OSI Russia News

  • MIL-Evening Report: News of the Air India plane crash is traumatic. Here’s how to make sense of the risk

    Source: The Conversation (Au and NZ) – By Hassan Vally, Associate Professor, Epidemiology, Deakin University

    simonkr/Getty Images

    On Thursday afternoon local time, an Air India passenger plane bound for London crashed shortly after takeoff from the northwestern Indian city of Ahmedabad. There were reportedly 242 people onboard, including two pilots and ten cabin crew.

    The most up-to-date reports indicate the death toll has surpassed 260, including people on the ground.

    Miraculously, one passenger – British national Vishwashkumar Ramesh – survived the crash.

    Thankfully, catastrophic plane crashes such as this are very rare. But seeing news of such a horrific event is traumatic, particularly for people who may have a fear of flying or are due to travel on a plane soon.

    If you’re feeling anxious following this distressing news, it’s understandable. But here are some things worth considering when you’re thinking about the risk of plane travel.

    Just how dangerous is flying?

    One of the ways to make sense of risks, especially really small ones, is to put them into context.

    Although there are various ways to do this, we can first look to figures that tell us the risk of dying in a plane crash per passenger who boards a plane. Arnold Barnett, a professor at the Massachusetts Institute of Technology, calculated that in 2018–22, this figure was one in 13.7 million. By any reckoning, this is an incredibly small risk.

    And there’s a clear trend of air travel getting safer every decade. Barnett’s calculations suggest that between 2007 and 2017, the risk was one per 7.9 million.

    We can also compare the risks of dying in a plane crash with those of dying in a car accident. Although estimates of motor vehicle fatalities vary depending on how you do the calculations and where you are in the world, flying has been estimated to be more than 100 times safer than driving.

    Evolution has skewed our perception of risks

    The risk of being involved in a plane crash is extremely small. But for a variety of reasons, we often perceive it to be greater than it is.

    First, there are well-known limitations in how we intuitively estimate risk. Our responses to risk (and many other things) are often shaped far more by emotion and instinct than by logic.

    As psychologist Daniel Kahneman explains in his book Thinking, Fast and Slow, much of our thinking about risk is driven by intuitive, automatic processes rather than careful reasoning.

    Notably, our brains evolved to pay attention to threats that are striking or memorable. The risks we faced in primitive times were large, immediate and tangible threats to life. Conversely, the risks we face in the modern world are generally much smaller, less obvious, and play out over the longer term.

    The brain that served us well in prehistoric times has essentially remained the same, but the world has completely changed. Therefore, our brains are susceptible to errors in thinking and mental shortcuts called cognitive biases that skew our perception of modern risks.

    This can lead us to overestimate very small risks, such as plane crashes, while underestimating far more probable dangers, such as chronic diseases.

    Why we overestimate the risks of flying

    There are several drivers of our misperception of risks when it comes to flying specifically.

    The fact events such as the Air India plane crash are so rare makes them all the more psychologically powerful when they do occur. And in today’s digital media landscape, the proliferation of dramatic footage of the crash itself, along with images of the aftermath, amplifies its emotional and visual impact.

    The effect these vivid images have on our thinking around the risks of flying is called the availability heuristic. The more unusual and dramatic an event is, the more it stands out in our minds, and the more it skews our perception of its likelihood.

    It’s natural to perceive the risk of flying as being greater than it truly is.
    OlegRi/Shutterstock

    Another influence on the way we perceive risks relevant to flying is called dread risk, which is a psychological response we have to certain types of threats. We fear certain risks that feel more catastrophic or unfamiliar. It’s the same reason we may disproportionately fear terrorist attacks, when in reality they’re very uncommon.

    Plane crashes usually involve a large number of deaths that occur at one time. And the thought of going down in a plane may feel more frightening than dying in other ways. All this taps into the emotions of fear, vulnerability and helplessness, and leads to an overweighting of the risks.

    Another factor that contributes to our overestimation of flying risks is our lack of control when flying. When we’re passengers on a plane, we are in many ways completely dependent on others. Even though we know pilots are highly trained and commercial aviation is very safe, the lack of control we have as passengers triggers a deep sense of vulnerability.

    This absence of control makes the situation feel riskier than it actually is, and often riskier than activities where the threat is far greater but there is an (often false) sense of control, such as driving a car.

    In a nutshell

    We have an evolutionary bias toward reacting more strongly to particular threats, especially when these events are dramatic, evoke dread and when we feel an absence of control.

    Although events such as Air India crash affect us deeply, air travel is still arguably the safest method of transport. Understandably, this can get lost in the emotional aftermath of tragic plane crashes.

    Hassan Vally does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. News of the Air India plane crash is traumatic. Here’s how to make sense of the risk – https://theconversation.com/news-of-the-air-india-plane-crash-is-traumatic-heres-how-to-make-sense-of-the-risk-258907

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Global: Just one man survived the Air India crash. What’s it like to survive a mass disaster?

    Source: The Conversation – Global Perspectives – By Erin Smith, Associate Professor and Discipline Lead (Paramedicine), La Trobe University

    Viswashkumar Ramesh, a British citizen returning from a trip to India, has been confirmed as the only survivor of Thursday’s deadly Air India crash.

    “I don’t know how I am alive,” Ramesh told family, according to his brother Nayan, in a video call moments after emerging from the wreckage. Another brother Ajay, seated elswhere on the plane, was killed.

    The Boeing 787-7 Dreamliner crashed into a medical college less than a minute after taking off in the city of Ahmedabad, killing the other 229 passengers and 12 crew. At least five people were killed on the ground.

    Surviving a mass disaster of this kind may be hailed as a kind of “miracle”. But what is it like to survive – especially as the only one?

    Surviving a disaster

    Past research has shown disaster survivors may experience an intense range of emotions, from grief and anxiety to feelings of loss and uncertainty.

    These are common reactions to an extraordinary situation.

    Some people may develop post-traumatic stress disorder (PTSD) and have difficulty adjusting to a new reality after bearing witness to immense loss. They may also be dealing with physical recovery from injuries sustained in the disaster.

    Most people recover after disasters by drawing on their own strengths and the support of others. Recovery rates are high: generally less than one in ten of those affected by disasters develop chronic, long-term problems.

    However, being a sole survivor of a mass casualty may have its own complex psychological challenges.

    Survivor’s guilt

    Survivors can experience guilt they lived when others died.

    My friend, Gill Hicks, spoke to me for this article about the ongoing guilt she still feels, years after surviving the 2005 bombings of the London underground.

    Lying trapped in a smoke-filled train carriage, she was the last living person to be rescued after the attack. Gill lost both her legs.

    Yet she still wonders, “Why me? Why did I get to go home, when so many others didn’t?”

    In the case of a sole survivor, this guilt may be particularly acute. However, research addressing the impact of sole survivorship is limited. Most research that looks at the psychological impact of disaster focuses on the impact of disasters more broadly.

    Those interviewed for a 2013 documentary about surviving large plane crashes, Sole Survivor, express complex feelings – wanting to share their stories, but fearing being judged by others.

    Being the lone survivor can be a heavy burden.

    “I didn’t think I was worthy of the gift of being alive,” George Lamson Jr. told the documentary, after surviving a 1985 plane crash in Nevada that killed all others on board.

    Looking for meaning

    People who survive a disaster may also be under pressure to explain what happened and relive the trauma for the benefit of others.

    Vishwashkumar Ramesh was filmed and interviewed by media in the minutes and hours following the Air India crash. But as he told his brother: “I have no idea how I exited the plane”.

    It can be common for survivors themselves to be plagued by unanswerable questions. Did they live for a reason? Why did they live, when so many others died?

    These kinds of unaswerable questions reflect our natural inclination to look for meaning in experiences, and to have our life stories make sense.

    For some people, sharing a traumatic experience with others who’ve been through it or something similar can be a beneficial part of the recovery process, helping to process emotions and regain some agency and control.

    However, this may not always be possible for sole survivors, potentially compounding feelings of guilt and isolation.

    Coping with survivor guilt

    Survivor guilt can be an expression of grief and loss.

    Studies indicate guilt is notably widespread among individuals who have experienced traumatic events, and it is associated with heightened psychopathological symptoms (such as severe anxiety, insomnia or flashbacks) and thoughts of suicide.

    Taking time to process the traumatic event can help survivors cope, and seeking support from friends, family and community or faith leaders can help an individual work through difficult feelings.

    My friend Gill says the anxiety rises as the anniversary of the disaster approaches each year. Trauma reminders such as anniversaries are different to unexpected trauma triggers, but can still cause distress.

    Media attention around collectively experienced dates can also amplify trauma-related distress, contributing to a cycle of media consumption and increased worry about future events.

    On the 7th of July each year, Gill holds a private remembrance ritual. This allows her to express her grief and sense of loss, and to honour those who did not survive. These types of rituals can be a valuable tool in processing feelings of grief and guilt, offering a sense of control and meaning and facilitating the expression and acceptance of loss.

    But lingering guilt and anxiety – especially when it interferes with day-to-day life – should not be ignored. Ongoing survivor guilt is associated with significantly higher levels of post-traumatic symptoms.

    Survivors may need support from psychologists or mental health professionals in the short and long term.

    Erin Smith does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Just one man survived the Air India crash. What’s it like to survive a mass disaster? – https://theconversation.com/just-one-man-survived-the-air-india-crash-whats-it-like-to-survive-a-mass-disaster-258905

    MIL OSI – Global Reports

  • MIL-OSI Global: News of the Air India plane crash is traumatic. Here’s how to make sense of the risk

    Source: The Conversation – Global Perspectives – By Hassan Vally, Associate Professor, Epidemiology, Deakin University

    simonkr/Getty Images

    On Thursday afternoon local time, an Air India passenger plane bound for London crashed shortly after takeoff from the northwestern Indian city of Ahmedabad. There were reportedly 242 people onboard, including two pilots and ten cabin crew.

    The most up-to-date reports indicate the death toll has surpassed 260, including people on the ground.

    Miraculously, one passenger – British national Vishwashkumar Ramesh – survived the crash.

    Thankfully, catastrophic plane crashes such as this are very rare. But seeing news of such a horrific event is traumatic, particularly for people who may have a fear of flying or are due to travel on a plane soon.

    If you’re feeling anxious following this distressing news, it’s understandable. But here are some things worth considering when you’re thinking about the risk of plane travel.

    Just how dangerous is flying?

    One of the ways to make sense of risks, especially really small ones, is to put them into context.

    Although there are various ways to do this, we can first look to figures that tell us the risk of dying in a plane crash per passenger who boards a plane. Arnold Barnett, a professor at the Massachusetts Institute of Technology, calculated that in 2018–22, this figure was one in 13.7 million. By any reckoning, this is an incredibly small risk.

    And there’s a clear trend of air travel getting safer every decade. Barnett’s calculations suggest that between 2007 and 2017, the risk was one per 7.9 million.

    We can also compare the risks of dying in a plane crash with those of dying in a car accident. Although estimates of motor vehicle fatalities vary depending on how you do the calculations and where you are in the world, flying has been estimated to be more than 100 times safer than driving.

    Evolution has skewed our perception of risks

    The risk of being involved in a plane crash is extremely small. But for a variety of reasons, we often perceive it to be greater than it is.

    First, there are well-known limitations in how we intuitively estimate risk. Our responses to risk (and many other things) are often shaped far more by emotion and instinct than by logic.

    As psychologist Daniel Kahneman explains in his book Thinking, Fast and Slow, much of our thinking about risk is driven by intuitive, automatic processes rather than careful reasoning.

    Notably, our brains evolved to pay attention to threats that are striking or memorable. The risks we faced in primitive times were large, immediate and tangible threats to life. Conversely, the risks we face in the modern world are generally much smaller, less obvious, and play out over the longer term.

    The brain that served us well in prehistoric times has essentially remained the same, but the world has completely changed. Therefore, our brains are susceptible to errors in thinking and mental shortcuts called cognitive biases that skew our perception of modern risks.

    This can lead us to overestimate very small risks, such as plane crashes, while underestimating far more probable dangers, such as chronic diseases.

    Why we overestimate the risks of flying

    There are several drivers of our misperception of risks when it comes to flying specifically.

    The fact events such as the Air India plane crash are so rare makes them all the more psychologically powerful when they do occur. And in today’s digital media landscape, the proliferation of dramatic footage of the crash itself, along with images of the aftermath, amplifies its emotional and visual impact.

    The effect these vivid images have on our thinking around the risks of flying is called the availability heuristic. The more unusual and dramatic an event is, the more it stands out in our minds, and the more it skews our perception of its likelihood.

    It’s natural to perceive the risk of flying as being greater than it truly is.
    OlegRi/Shutterstock

    Another influence on the way we perceive risks relevant to flying is called dread risk, which is a psychological response we have to certain types of threats. We fear certain risks that feel more catastrophic or unfamiliar. It’s the same reason we may disproportionately fear terrorist attacks, when in reality they’re very uncommon.

    Plane crashes usually involve a large number of deaths that occur at one time. And the thought of going down in a plane may feel more frightening than dying in other ways. All this taps into the emotions of fear, vulnerability and helplessness, and leads to an overweighting of the risks.

    Another factor that contributes to our overestimation of flying risks is our lack of control when flying. When we’re passengers on a plane, we are in many ways completely dependent on others. Even though we know pilots are highly trained and commercial aviation is very safe, the lack of control we have as passengers triggers a deep sense of vulnerability.

    This absence of control makes the situation feel riskier than it actually is, and often riskier than activities where the threat is far greater but there is an (often false) sense of control, such as driving a car.

    In a nutshell

    We have an evolutionary bias toward reacting more strongly to particular threats, especially when these events are dramatic, evoke dread and when we feel an absence of control.

    Although events such as Air India crash affect us deeply, air travel is still arguably the safest method of transport. Understandably, this can get lost in the emotional aftermath of tragic plane crashes.

    Hassan Vally does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. News of the Air India plane crash is traumatic. Here’s how to make sense of the risk – https://theconversation.com/news-of-the-air-india-plane-crash-is-traumatic-heres-how-to-make-sense-of-the-risk-258907

    MIL OSI – Global Reports

  • MIL-OSI USA: Wicker, Heinrich Lead Bipartisan, Bicameral Effort to Address the Syphilis Epidemic

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker

    WASHINGTON – U.S. Senator Roger Wicker, R-Miss., joined Senator Martin Heinrich, D-N.M., and Representatives Juan Ciscomani, R-Ariz., and Melanie Stansbury, D-N.M., in introducing a bipartisan, bicameral effort to address the syphilis epidemic and ensure that mothers, pregnant women, and infants are as healthy as possible. 

    The Maternal and Infant Syphilis Prevention Act would require the Department of Health and Human Services (HHS) to issue guidance to states on the best practices for screening and treatment of congenital syphilis under Medicaid, the Children’s Health Insurance Program (CHIP), and the Indian Health Service (IHS). Syphilis is a highly treatable and preventable disease that was nearly eradicated in the 1990s. However, in recent years, we have seen an increase in syphilis cases, with the Center for Disease Control and Prevention (CDC) reporting that infections are at the highest levels since the 1950s. The CDC reported that in Mississippi, infant hospitalization with congenital syphilis spiked by 1,000 percent, from 10 cases in 2016 to 110 cases in 2022.

    “The syphilis epidemic has impacted many Mississippians, and I am working to protect mothers and children from this disease,” said Senator Wicker. “The Maternal and Infant Syphilis Prevention Act will expand access to life-saving screening and treatment for congenital syphilis.”

     

    “We must do more to help stop the increase of babies born in New Mexico with congenital syphilis,” said Senator Heinrich. “My Maternal and Infant Syphilis Prevention Act will help us improve screening and treatment to protect pregnant mothers and babies in New Mexico from this fully treatable condition.”

     

    “As rates of congenital syphilis continue to rise in Arizona’s newborns, we must ensure that our mothers, families, and healthcare professionals have access to information, treatment, and solutions they need to address this highly preventable disease,” said Representative Ciscomani. “Information saves lives and I am proud to co-lead the Maternal and Infant Syphilis Prevention Act to promote and expand access to screenings and treatment for syphilis to ensure that mothers, pregnant women, and babies are as healthy as possible.”

     

    “We must do everything we can to protect mothers and their infants,” said Representative Stansbury. “Congenital Syphilis is treatable, and it is critical HHS provides treatment, support, and education. I am proud to sign on to the Maternal and Infant Syphilis Prevention Act so women and babies in New Mexico get the care and treatment they deserve.”  

    This legislation is supported by March of Dimes, the National Coalition of STD Directors (NCSD), and Affirm Sexual and Reproductive Health.  

    Full text of the resolution can be found here.  

    MIL OSI USA News

  • MIL-OSI Economics: Yannis Stournaras: Central banks – opportunities and implications posed by artificial intelligence

    Source: Bank for International Settlements

    Introduction

    Many thanks to the conference organisers for inviting me to be here today. It’s a privilege to be part of this dialogue that is helping to shape the digital era.

    Central banks may seem far removed from your world-but we share an important feature: all of us are engaged in understanding complexity, managing uncertainty, and preparing for the future.

    Today, I would like to discuss how central banks can harness the transformative potential of artificial intelligence (AI) in their mission to safeguard monetary and financial stability. My remarks will unfold along three dimensions, focusing on several important issues, but without being exhaustive.

    • First, on the ways that AI intersects with our monetary policy strategy at the European Central Bank (ECB).
    • Second, on the opportunities AI offers to central banks for efficiency gains in areas such as communication and economic analysis.
    • Third, on the implications posed by AI for price stability, monetary policy transmission and financial stability.

    Intersections of monetary policy strategy with AI

    So, let me briefly discuss the ways that AI intersects with our monetary policy strategy.

    When the ECB Governing Council embarked on its strategy review last year, we made it clear that price stability remains our objective. We also decided to keep the symmetric, 2% inflation target unchanged.

    The clarity which that objective provides, and our success in achieving that objective, have provided the ECB with credibility, which was essential in keeping inflation expectations anchored around the 2 per cent level during the recent inflation surge.

    Although our updated strategy is only expected to be concluded and announced later this year, the following is important.

    When the review was initiated, no one could have possibly foreseen the tectonic eruptions to the geopolitical landscape that ensued.

    These developments have only reinforced the importance of the review and the need to ensure that our policies will remain fit for a rapidly evolving world — a world that is now being shaped by geopolitical tensions, trade disruptions, ongoing climate change, and rapid advances in artificial intelligence.

    In such a world, central banks need to be able to respond with agility, which is undoubtedly a guiding virtue for everyone in this room.

    We have to deliver a strategy that is not only robust but also flexible: one that allows adjustments to the monetary policy stance and our toolkit in response to shocks and provides a foundation that can guide the Governing Council in navigating through challenges in the years to come.

    In today’s fast-moving environment-where inflation dynamics can shift rapidly, financial conditions are increasingly volatile and uncertainty is ever-present-we need to improve our ability to communicate, assess economic developments in real time and make more accurate projections of the outlook to guide our monetary policy making.

    This is where AI begins to play a potentially transformative role. In the following, I will focus on the opportunities provided by AI in core central banking fields, namely communication and economic analysis.

    Opportunity to enhance communication

    I start with communication.

    Central banks have come a long way in their communication strategies. As you may know, it was not always the case that the words “central bank” and “communication” could even stand together in the same sentence.

    In the 1960s and 1970s, the conventional wisdom among central bankers was: “the less said, the better.” The aim was often to surprise markets with the announcement of their policy decisions. Significant policy decisions were sometimes made without immediate public disclosure, and the rationale behind them was not always transparently communicated. The language used would often make the oracles of Delphi seem crystal clear.

    Alan Greenspan once captured this perfectly when he said, “if I seem unduly clear to you, you must have misunderstood what I said.”

    Things began to change in the 1980s and 1990s. Two factors, in particular, helped bring about this change.

    The first factor was credibility. As more and more central banks adopted inflation targeting frameworks, they realized that to achieve their targets, they needed to control inflation expectations. In other words, they needed to be credible.

    The second factor was independence. As central banks achieved independence from politicians, they also had to communicate in a transparent way with the public to help build trust, and safeguard accountability.

    An important corollary of the improved communication is that it has increased the effectiveness of monetary policy transmission.

    The previous ECB strategy review in 2021 consolidated this finding, while also calling for central banks in the euro area to use simpler and engaging language to directly access a broader audience.

    More recently, efforts are being made to exploit AI for the benefit of our communication processes, to enhance transparency, foster trust, and ensure that our monetary policy reaction function is clearly understood, thereby supporting the anchoring of inflation expectations.

    An important application involves the sentiment analysis of official publications, such as monetary policy statements, speeches, and press releases. For example, using Large Language Models (LLMs) the impact of ECB statements on financial markets1 can be explored. This kind of work helps understand how the language in communications shapes market expectations for inflation and interest rates.

    AI models can be trained on financial and policy-specific issues to detect subtle shifts in tone – such as whether a message appears more hawkish (in favour of tighter monetary policy) or dovish (in favour of looser monetary policy) – before publication. This allows communications teams to adjust language in order to ensure it aligns with the intended policy signal, minimising the risk of misinterpretation by the markets that could trigger undue volatility.

    AI can also play a growing role in the crafting and refining of speeches by policy makers. LLMs can support a consistent voice in communication, while also tailoring the tone and content to specific audiences – be it financial market analysts, other expert audiences, or the wider public.

    Moreover, AI supports a wide range of multilingual and accessibility needs. Machine translation models – fine-tuned for economic and legal language – help ensure timely publication of central bank materials across multiple official languages, a feature very useful to the European System of Central Banks which speaks all 24 official languages of the EU.

    Recourse to AI for communication purposes, however, necessitates caution. Over-reliance on AI in crafting and interpreting central bank communications could create an “echo chamber.” This would occur when AI tools respond to, and amplify, each other’s outputs, leading to overly uniform narratives and repetitive signals, that may distort the policymakers’ message. This is a clear case that illustrates the need for human oversight in overviewing processes to ensure that communication stays varied, accurate, and relevant.

    Opportunity to improve central bank economic analysis and decision making

    Another area that AI is poised to enhance is economic analysis. Following the AI revolution, we have started to build expertise in incorporating AI and non-traditional data in our analytical tools. These tools are rapidly being applied in the economic analyses that inform our monetary policy decisions.

    A question however arises: Is the use of AI in this context a hype? Or could it mark a methodological revolution that will help us better pursue our mandate? I believe that there are unique opportunities but also several challenges.

    First, central banks rely heavily on economic data to make informed decisions on monetary policy. Traditional statistical methods may not be sufficient to apprehend the complexity of the current uncertain environment. The use of LLMs can deliver enhanced data processing and analysis of unstructured data sets of textual data (like news articles or social media). This enables us to access new and non-traditional data sources, that could provide useful insights into our policies.

    Furthermore, machine learning (ML) models can quickly detect patterns, trends, and potential risks that might not be visible using traditional methods. Thus, we could identify structural breaks and patterns that would otherwise be difficult to detect.

    These tools can also help identify non-linear relationships. This is particularly important in a complex environment, since capturing non-linearities in the data is essential to understanding how the economy will evolve under stress and how seemingly small disturbances could lead to large-scale economic disruptions.

    In addition, by processing real-time data, AI can provide timely insights and rigorous analysis, allowing central banks more flexibility in decision making. This is valuable in a world prone to shocks and in times of pervasive uncertainty.

    There is also a possibility that these tools will be useful in the prediction of turning points in the business cycle and of tail events, such as fiscal crises.

    Finally, AI could improve forecasting and nowcasting inflation and economic activity. The Eurosystem already uses AI to improve its forecasting processes. For example, ML techniques are applied in inflation forecasting2 or in nowcasting global trade3. Moreover, short-term forecasts of economic activity are informed by sentiment indicators derived from the textual analysis of news, using LLMs4. Research5 at the Bank of Greece has produced forecasting models of inflation based on textual indicators of supply and demand disturbances in commodity markets. With the help of AI tools, these indicators can be updated on a daily basis and thus help predict inflation more accurately. This research has found that out-of-sample inflation forecast errors are reduced by up to 30 per cent.

    Still, there are several challenges.

    First, AI models are often complex and opaque, lacking transparency. Being like a “black box”, they are – at least for the time being – difficult to reconcile with the principles of transparency and accountability of central banks.

    Second, AI models (usually LLMs) could occasionally provide inaccurate or misleading information, raising practical, reputational and legal concerns. Therefore, human supervision is of the essence, especially in processes that require rational reasoning.

    Third, the quality of non-traditional data is often poor and the process of reconciling these data with our existing data sources is demanding. In a similar vein, the use of AI should not create an over-reliance on machine-driven outcomes.

    Overall, I believe that AI is a potent technology which has already brought about tectonic shifts in economic analysis. Its potential is still unfolding, and the benefits it offers are only beginning to be realised. The cutting-edge research promoted at this conference marks a point of methodological revolution. I believe that such research will fundamentally transform the way we understand economic dynamics and will ultimately enable us to make better-informed decisions.

    While AI opens unique opportunities for central banks in the pursuit of their mandate, it also brings a number of emerging implications that we must carefully consider. I’d like to share what I see as some of the most significant.

    Implications on productivity, employment, inflation

    Let me start with the effects on the macroeconomic outlook.

    AI has strong potential to raise productivity, both through its direct impact on total factor productivity, but also through improvements of efficiency on individual firm level. However, the aggregate effects remain uncertain and vary widely across studies6.

    One reason is that a disproportionate share of the benefits generated by AI may be concentrated in a small number of highly advanced firms, particularly large technology companies with the resources and infrastructure to develop and deploy cutting-edge AI tools.

    This concentration poses a risk: while AI can deliver substantial productivity benefits at the enterprise level, these gains may not necessarily translate into broad-based growth in aggregate productivity, unless mechanisms are in place to ensure that the diffusion of AI is wide across sectors, firms and countries.

    In a similar vein, the potential impact of AI on employment is difficult to estimate. On the one hand, it can automate routine, lower-skilled tasks – potentially displacing workers. On the other hand, AI can create new opportunities by increasing labour demand for non-automated tasks, as well as giving rise to new types of jobs. To maximise the favourable effects of AI on employment and to mitigate risks such as labour market inequality, reskilling the workforce with AI-complementary skills will be essential.

    Turning to prices, the impact of AI on inflation could go in both directions. Increased global demand for energy – driven by the computational intensity of AI technologies – could raise energy prices. According to the IMF7, electricity used by data centres alone, is already as much as that of Germany or France, and by 2030 would be comparable to that of India which is the world’s third largest electricity user. At the same time, AI can also contribute to more efficient energy use and improved grid management, potentially lowering costs.

    Moreover, AI-induced productivity improvements might help offset labour shortages, especially in times of low unemployment and ageing population. This could lead to a decline in unit labour costs, exerting thus downward price pressures. However, the overall impact of AI on employment and wage growth is difficult to predict.

    Expectations also play a central role in the price formation process. If consumers fully anticipate future benefits from AI (such as better products, lower costs, or higher wages), they may bring forward consumption in the short term, creating inflationary pressures. However, if expectations are only regressively formed, disinflationary forces may dominate in the near term due to delayed consumption and investment.

    Implications for monetary policy transmission

    The transmission of monetary policy to the economy, and thus monetary policy making are significantly impacted by AI.

    As I already noted, AI is expected to bring about distributional shifts in income and wealth. These shifts matter for monetary policy, since they influence households’ marginal propensity to consume and their access to credit.

    Should AI disproportionally raise the income share of lower-income households – with a higher marginal propensity to consume and greater credit constraints – the transmission of monetary policy could be strengthened. In contrast, if the gains accrue mainly to higher-income, more skilled households – who have lower marginal propensity to consume and are less responsive to interest rate changes — then monetary policy transmission may weaken.

    AI is also affecting how firms set prices. Companies that are more digitalised and employ algorithmic pricing tools can adjust prices more frequently and with greater precision in response to economic shocks. Higher price flexibility could induce – all else equal, a more efficient real economy.

    At the same time, ML tools enable firms to personalise prices and introduce heterogeneity, which is likely to weaken the link between monetary policy measures and prices, although AI could provide tools that enhance price transparency and improve consumers’ ability to compare prices. There is also the risk that algorithmic pricing could lead to tacit collusion among firms and greater market power, undermining the effectiveness of monetary policy in controlling inflation.

    Finally, AI may influence wage-setting dynamics. If the presence of automation erodes workers’ bargaining power, wage responsiveness to changes in unemployment could be reduced. This would weaken the sensitivity of inflation to shifts in monetary policy and complicate central banks’ ability to steer inflation effectively.

    Implications for financial stability

    Turning now to financial stability, the implications of AI technologies are complex and multifaceted.

    On the one hand, AI offers powerful tools to enhance financial institutions’ capabilities in risk assessment, liquidity management and strategic decision making. On the other hand, AI can exacerbate existing vulnerabilities and create new ones.

    For example, generative AI could be deliberately misused – such as through the creation of deepfakes or fabricated statements – potentially aimed at manipulating sentiment or triggering market stress.

    There is also the risk of herding behavior. As more institutions adopt similar AI models, the likelihood of systemic stress increases. What may initially appear as isolated, micro-level risk could rapidly escalate via AI and pose serious threats to financial stability.

    If financial institutions, market participants or the public at large base their key decisions on such inputs, without adequate human verification, we may witness situations of disorderly market volatility. Overreliance to a limited number of AI providers could further raise operational risks and adversely affect the resilience of the financial sector.

    Therefore, it is critical that these tools are deployed with caution. Sound governance, robust regulatory oversight, and adequate safeguards will be essential to ensuring that AI acts as a tool for strength, rather than a source of systemic risk.

    Conclusion

    To conclude, the core task of central banks remains safeguarding price and financial stability, and AI poses unprecedented opportunities but also considerable challenges.

    From enhancing communication and improving economic analysis, to reshaping the channels through which monetary policy and the financial system operate, AI is already redefining the way we pursue our tasks.

    As I have outlined today, AI can make central banks more agile, more transparent, and more effective. But its use also demands flexibility – not only in the tools we use, but in the way we think, plan and make decisions. In a world of growing complexity and rapid technological change, we must ensure that innovation goes hand in hand with responsibility, transparency, and trust.

    This calls for thoughtful integration, not blind adoption. As we integrate AI into our policymaking, we must ensure that human judgment and critical thinking remain central to our decisions. AI should serve as a tool to enhance – not replace – our responsibility to make sound, efficient policy choices in the interest of our citizens.

    The euro area faces a dual challenge: harnessing the opportunities that artificial intelligence presents while actively addressing its broader implications.

    To rise to this challenge, it is vital that we craft a comprehensive European AI strategy. To improve the environment for AI innovation and diffusion of new technologies, our strategy has to rest on three pillars: funding, regulation and energy.

    Developing and scaling AI requires substantial investment, particularly in digital infrastructure. There is broad consensus on the importance of building a savings and investment union to jump-start European projects on innovation, including AI.

    Complementary efforts to equip people with the skills they need to thrive in an AI-driven economy and to mitigate the risk of widening inequality are also of high importance.

    In addition, regulatory burdens and weak institutional quality can significantly hold back the expansion of high-tech sectors. That’s why we need simple but efficient regulation, while ensuring protection of personal data and strong institutions to defend AI-generated innovation.

    Energy, too, is a critical piece of the puzzle. AI diffusion across the economy will place greater demands on Europe’s energy infrastructure. Addressing supply constraints now is essential to ensuring that AI adoption is sustainable in the long run.

    All these considerations need to be taken into account when assessing challenges and opportunities arising from this very innovative technology. The successful adoption of AI requires a flexible adjustment in a constantly evolving environment. Therefore, we need to commence our journey on that potentially wonderful vessel with urgency but also with careful consideration, towards a new shore.

    I am confident that the insights shared at this conference, and the research being pursued by many of you in this room, will be instrumental in guiding us forward.

    Thank you.

    MIL OSI Economics

  • Key targets and capabilities: a look at Iran’s nuclear facilities amid Israeli strikes

    Source: Government of India

    Source: Government of India (4)

    Israel said early on Friday it had struck Iranian nuclear targets to block Tehran from developing atomic weapons, and Iranian media and witnesses reported explosions including at the country’s main uranium enrichment facility. Israeli Prime Minister Benjamin Netanyahu said the strikes are aimed at hurting Iran’s nuclear infrastructure, ballistic missile factories and military capabilities.

    Below are some of Iran’s main nuclear facilities.

    WHERE ARE IRAN’S NUCLEAR FACILITIES?

    Iran’s nuclear programme is spread over many locations. While the threat of Israeli airstrikes has loomed for decades, only some of the sites have been built underground.

    DOES IRAN HAVE A NUCLEAR WEAPONS PROGRAMME?

    The United States and the U.N. nuclear watchdog believe Iran had a coordinated, secret nuclear weapons programme that it halted in 2003. The Islamic Republic denies ever having had one or planning to have one.

    Iran agreed to restrictions on its nuclear activities in exchange for relief from international sanctions under a 2015 deal with world powers. That pact fell apart after Trump – then serving his first term as president – pulled the United States out of it in 2018 and Iran started abandoning the restrictions in the following year.

    IS IRAN INCREASING ITS URANIUM ENRICHMENT?

    Yes. Iran has been expanding its uranium enrichment programme ever since the pact broke down, reducing the so-called “breakout time” it would need to produce enough weapons-grade uranium for a nuclear bomb to days or little more than a week from at least a year under the 2015 deal.

    Actually making a bomb with that material would take longer. How long is less clear and is the subject of debate.

    Iran is now enriching uranium to up to 60% fissile purity, close to the 90% of weapons-grade, at two sites, and in theory it has enough material enriched to that level, if enriched further, for six bombs, according to a yardstick of the International Atomic Energy Agency (IAEA), the U.N. watchdog.

    NATANZ

    Netanyahu said on Friday that Israel had targetted Natanz as part of its attack.

    A complex at the heart of Iran’s enrichment programme on a plain abutting mountains outside the Shi’ite Muslim holy city of Qom, south of Tehran. Natanz houses facilities including two enrichment plants: the vast, underground Fuel Enrichment Plant (FEP) and the above-ground Pilot Fuel Enrichment Plant (PFEP).

    An exiled Iranian opposition group revealed in 2002 that Iran was secretly building Natanz, igniting a diplomatic standoff between the West and Iran over its nuclear intentions that continues today.

    The FEP was built for enrichment on a commercial scale, able to house 50,000 centrifuges. Around 16,000 centrifuges are currently installed there, roughly 13,000 of which are in operation, refining uranium to up to 5% purity.

    Diplomats with knowledge of Natanz describe the FEP as being about three floors below ground. There has long been debate about how much damage Israeli airstrikes could do to it.

    Damage has been done to centrifuges at the FEP by other means, including an explosion and power cut in April 2021 that Iran said was an attack by Israel.

    The above-ground PFEP houses only hundreds of centrifuges but Iran is enriching to up to 60% purity there.

    FORDOW

    On the opposite side of Qom, Fordow is an enrichment site dug into a mountain and therefore probably better protected from potential bombardment than the FEP.

    The 2015 deal with major powers did not allow Iran to enrich at Fordow at all. It now has around 2,000 centrifuges operating there, most of them advanced IR-6 machines, of which up to 350 are enriching to up to 60%.

    The United States, Britain and France announced in 2009 that Iran had been secretly building Fordow for years and had failed to inform the IAEA. U.S. President Barack Obama said then: “The size and configuration of this facility is inconsistent with a peaceful programme.”

    ISFAHAN

    Iran has a large nuclear technology centre on the outskirts of Isfahan, its second largest city.

    It includes the Fuel Plate Fabrication Plant (FPFP) and the uranium conversion facility (UCF) that can process uranium into the uranium hexafluoride that is fed into centrifuges.

    Iran also stores enriched uranium at Isfahan, diplomats say.

    There is equipment at Isfahan to make uranium metal, a process that is particularly proliferation-sensitive since it can be used to devise the core of a nuclear bomb.

    The IAEA has said there are machines for making centrifuge parts at Isfahan, describing it in 2022 as a “new location”.

    KHONDAB

    Iran has a partially built heavy-water research reactor originally called Arak and now Khondab. Heavy-water reactors pose a nuclear proliferation risk because they can easily produce plutonium which, like enriched uranium, can be used to make the core of an atom bomb.

    Under the 2015 deal, construction was halted, the reactor’s core was removed and filled with concrete to make it unusable. The reactor was to be redesigned “to minimise the production of plutonium and not to produce weapon-grade plutonium in normal operation”. Iran has informed the IAEA that it plans to start operating the reactor in 2026.

    TEHRAN RESEARCH CENTRE

    Iran’s nuclear research facilities in Tehran include a research reactor.

    BUSHEHR

    Iran’s only operating nuclear power plant, on the Gulf coast, uses Russian fuel that Russia then takes back when it is spent, reducing the proliferation risk.

    (Reuters)

  • MIL-Evening Report: Just one man survived the Air India crash. What’s it like to survive a mass disaster?

    Source: The Conversation (Au and NZ) – By Erin Smith, Associate Professor and Discipline Lead (Paramedicine), La Trobe University

    Vishwashkumar Ramesh, a British citizen returning from a trip to India, has been confirmed as the only survivor of Thursday’s deadly Air India crash.

    “I don’t know how I am alive,” Ramesh told family, according to his brother Nayan, in a video call moments after emerging from the wreckage. Another brother Ajay, seated elswhere on the plane, was killed.

    The Boeing 787-7 Dreamliner crashed into a medical college less than a minute after taking off in the city of Ahmedabad, killing the other 229 passengers and 12 crew. At least five people were killed on the ground.

    Surviving a mass disaster of this kind may be hailed as a kind of “miracle”. But what is it like to survive – especially as the only one?

    Surviving a disaster

    Past research has shown disaster survivors may experience an intense range of emotions, from grief and anxiety to feelings of loss and uncertainty.

    These are common reactions to an extraordinary situation.

    Some people may develop post-traumatic stress disorder (PTSD) and have difficulty adjusting to a new reality after bearing witness to immense loss. They may also be dealing with physical recovery from injuries sustained in the disaster.

    Most people recover after disasters by drawing on their own strengths and the support of others. Recovery rates are high: generally less than one in ten of those affected by disasters develop chronic, long-term problems.

    However, being a sole survivor of a mass casualty may have its own complex psychological challenges.

    Survivor’s guilt

    Survivors can experience guilt they lived when others died.

    My friend, Gill Hicks, spoke to me for this article about the ongoing guilt she still feels, years after surviving the 2005 bombings of the London underground.

    Lying trapped in a smoke-filled train carriage, she was the last living person to be rescued after the attack. Gill lost both her legs.

    Yet she still wonders, “Why me? Why did I get to go home, when so many others didn’t?”

    In the case of a sole survivor, this guilt may be particularly acute. However, research addressing the impact of sole survivorship is limited. Most research that looks at the psychological impact of disaster focuses on the impact of disasters more broadly.

    Those interviewed for a 2013 documentary about surviving large plane crashes, Sole Survivor, express complex feelings – wanting to share their stories, but fearing being judged by others.

    Being the lone survivor can be a heavy burden.

    “I didn’t think I was worthy of the gift of being alive,” George Lamson Jr. told the documentary, after surviving a 1985 plane crash in Nevada that killed all others on board.

    Looking for meaning

    People who survive a disaster may also be under pressure to explain what happened and relive the trauma for the benefit of others.

    Vishwashkumar Ramesh was filmed and interviewed by media in the minutes and hours following the Air India crash. But as he told his brother: “I have no idea how I exited the plane”.

    It can be common for survivors themselves to be plagued by unanswerable questions. Did they live for a reason? Why did they live, when so many others died?

    These kinds of unaswerable questions reflect our natural inclination to look for meaning in experiences, and to have our life stories make sense.

    For some people, sharing a traumatic experience with others who’ve been through it or something similar can be a beneficial part of the recovery process, helping to process emotions and regain some agency and control.

    However, this may not always be possible for sole survivors, potentially compounding feelings of guilt and isolation.

    Coping with survivor guilt

    Survivor guilt can be an expression of grief and loss.

    Studies indicate guilt is notably widespread among individuals who have experienced traumatic events, and it is associated with heightened psychopathological symptoms (such as severe anxiety, insomnia or flashbacks) and thoughts of suicide.

    Taking time to process the traumatic event can help survivors cope, and seeking support from friends, family and community or faith leaders can help an individual work through difficult feelings.

    My friend Gill says the anxiety rises as the anniversary of the disaster approaches each year. Trauma reminders such as anniversaries are different to unexpected trauma triggers, but can still cause distress.

    Media attention around collectively experienced dates can also amplify trauma-related distress, contributing to a cycle of media consumption and increased worry about future events.

    On the 7th of July each year, Gill holds a private remembrance ritual. This allows her to express her grief and sense of loss, and to honour those who did not survive. These types of rituals can be a valuable tool in processing feelings of grief and guilt, offering a sense of control and meaning and facilitating the expression and acceptance of loss.

    But lingering guilt and anxiety – especially when it interferes with day-to-day life – should not be ignored. Ongoing survivor guilt is associated with significantly higher levels of post-traumatic symptoms.

    Survivors may need support from psychologists or mental health professionals in the short and long term.

    Erin Smith does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Just one man survived the Air India crash. What’s it like to survive a mass disaster? – https://theconversation.com/just-one-man-survived-the-air-india-crash-whats-it-like-to-survive-a-mass-disaster-258905

    MIL OSI AnalysisEveningReport.nz