Category: Business

  • MIL-OSI: Nasdaq and nuam Strengthen Technology Partnership to Drive Capital Market Integration in Latin America

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK AND SANTIAGO, March 18, 2025 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) and nuam (NUAM: nuam), the merger of Santiago, Lima, and Colombia stock exchanges, today announced an extension of their strategic technology partnership, which will see all three exchanges’ central securities depositories (CSD) adopt Nasdaq’s CSD platform to optimize post-trade processing in the region.

    The agreement expands Nasdaq’s existing relationship with nuam, with the exchanges currently consolidating their trading infrastructures on Nasdaq’s platform to help attract global sources of liquidity. It also builds on Nasdaq’s longstanding technology partnership with Chile’s CSD, Depósito Central de Valores (DCV), one of the region’s most advanced CSD platforms.

    nuam’s integrated post-trade infrastructure will benefit from a unified solution based on international standards, while greater interoperability across both trading and CSD infrastructure will reduce the costs and barriers associated with accessing the individual markets, increase liquidity, and enhance operational efficiencies across the three exchanges.

    “Having high technological standards is essential for providing security and confidence to investors, as well as expanding investment opportunities and access to new markets,” said Juan Pablo Córdoba, CEO of nuam. “Our alliance with Nasdaq reaffirms our commitment to building an integrated, efficient, and accessible capital market in Latin America. The adoption of this technology will optimize connectivity, strengthen our infrastructure, and facilitate access for global investors, boosting competitiveness and the growth of the Latin American financial ecosystem,” Córdoba noted.

    “Enhancing the infrastructure underpinning global capital markets is essential to maintaining systemwide resilience and an incredibly powerful catalyst for growth,” said Magnus Haglind, SVP and Head of Marketplace Technology at Nasdaq. “nuam is at the heart of Latin America’s extraordinary journey, with the region’s markets embracing modernization at a phenomenal rate. By adopting world-leading technology they can attract international investors while ensuring they have the agility to incorporate innovative, new technologies to better serve the three markets and unlock new sources of revenue.”

    According to a recent Nasdaq survey, 84% of respondents said that they are keen to increase their investment in Latin America1. Yet the survey also revealed structural challenges that restrict flows and adds to costs: 59% of respondents said that market structure issues impose limits on their investment flows. Specifically, fragmentation, processing errors and a lack of standardization are hampering operations, with respondents seeking greater cohesion and automation to increase efficiency and improve market access.

    The implementation of Nasdaq’s CSD technology will introduce more standardized business processes and connectivity, simplifying investors’ ability to settle trades across each market. Removing barriers to investment can help attract more international capital to nuam exchanges and support the rapid development of the Latin American economy.

    Nasdaq’s technology is used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,500+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization.

    Media Contacts

    Camille Stafford; +1 (234) 934 9513; Camille.Stafford@nasdaq.com

    Chile: Diego Schiaffino Tyrer; +569 5528 3560; diego.schiaffino@nuamx.com

    Colombia: María Paula Aristizábal Bedoya; +57 311 2238929; maria.aristizabal@nuamx.com

    Perú: Diana Sánchez Guerrero: +51 938 946 452; diana.sanchez@nuamx.com

    About nuam:

    nuam (Stock Exchanges: NUAM) is the first multi-country stock exchange integration, bringing together the Chilean, Colombian, and Peruvian markets. It aims to standardize trading conditions and regulations across the three countries while adhering to the highest international standards. This, in turn, attracts foreign investment flows with greater strength and confidence, ultimately improving the lives of citizens in Chile, Colombia, and Peru. Through this integration, the company seeks to position itself as a key player in the global market infrastructure industry. For more information: www.nuamx.com.

    About Nasdaq:

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Cautionary Note Regarding Forward-Looking Statements:

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will” and “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s central securities depository infrastructure and related technology solutions. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

    -NDAQG- 

    _______________________________
    1
    https://www.nasdaq.com/solutions/fintech/resources/survey/latam-markets-report

    The MIL Network

  • MIL-OSI: Nokia unveils two mass-market 25G PON residential fiber ONTs, making large-scale multi-gig and 10G+ viable and affordable

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia unveils two mass-market 25G PON residential fiber ONTs, making large-scale multi-gig and 10G+ viable and affordable

    • New indoor modems deliver speeds up to 20x faster than current gigabit solutions.
    • 25G PON technology is the most cost-effective way to deliver multi-gig and 10G+ residential services, ensuring that advertised speeds can be delivered to all subscribers simultaneously.
    • 25G PON modems have now reached the right price point for residential mass-market deployment.

    18 March 2025
    Amsterdam, Netherlands – Nokia today announced the launch of two new 25G PON fiber modems designed to deliver mass-market, high-speed residential connectivity. The indoor fiber modems provide speeds up to 20 times faster than existing gigabit solutions. 25G PON works on the same fiber network and equipment that operators already use to deliver GPON and 10G PON services. This allows operators to quickly and cost-effectively increase speeds on their network and get the most out of their Fiber-to-the-Home (FTTH) investment.
        
    Demand for multi-gigabit services is growing, moving beyond the enterprise into the home where end-users seek high-speed connectivity for cloud applications, gaming, remote work, and Wi-Fi 7. With 25G PON, operators can turn multi-Gig and 10G+ into mass-market services and know they can reliably deliver advertised speeds to all subscribers, all the time. This proven technology is used by 17 operators, including Google Fiber, Frontier, and Hong Kong Broadband. It provides an easy, cost-effective way to address residential demand for faster broadband speeds.

    The two new residential 25G PON fiber modems complement Nokia’s growing 25G PON portfolio, which includes the Lightspan FX, DF and MF fiber access platforms (OLTs), a 25G PON ONT designed for enterprise applications, and the industry’s first 25G PON sealed fiber access node for cable operators.

    “To support next-gen power users, operators must build future-ready broadband networks that scale beyond 10G. As technology advances, higher-capacity solutions like 25G PON are emerging as a simple, cost-effective way to meet tomorrow’s connectivity demands. With growing competition, differentiation, time-to-market, and scalability will remain critical for providers to stay ahead,” said Jaimie Lenderman, principal analyst at Omdia.   

    “We are investing in all next generation PON technologies including 10/25/50/100G PON, to give operators the best option to meet their needs and their business goals. 25G PON is a proven technology that can be easily activated on our existing 10G XGS-PON solutions. We have close to 2 million 25G-capable ports in the field already. These new 25G PON fiber modems provide a simple, efficient way to boost capacity and stay ahead of growing demands,” said Geert Heyninck, General Manager of Broadband Networks at Nokia.

    Multimedia, technical information and related news 
    Product Page: Nokia 25G PON ONT
    Product Page: Lightspan FX
    Product Page: Lightspan SF-8M sealed fiber access node
    Product Page: Lightspan MF fiber platform
    Web Page: 25G PON

    About Nokia
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries 
    Nokia Press Office 
    Email: Press.Services@nokia.com  

    Follow us on social media 
    LinkedIn X Instagram Facebook YouTube 

    Attachments

    The MIL Network

  • MIL-OSI: New Report Exposes Climate Finance Failures, Calls for Urgent Investment Migration Solutions

    Source: GlobeNewswire (MIL-OSI)

    LONDON , March 18, 2025 (GLOBE NEWSWIRE) — A groundbreaking climate finance report, released today by the Climate Vulnerable Forum (CVF) and Henley & Partners, highlights the failings in funding urgent climate action and explores how investment migration can unlock vital resources for climate resilience in the world’s most at-risk nations.

    The CVF, an international organization of 70 climate-vulnerable countries representing 1.75 billion people — 20% of the global population — accounts for just 6% of global emissions yet faces the most severe impacts of climate breakdown. By 2030, these nations will require an estimated USD 500 billion annually to fund climate action, development, and nature preservation.

    As CVF Secretary-General and former President of the Maldives, Mohamed Nasheed, points out in the Citizenship by Investment: Sustainable Climate Finance for Governments report, global climate finance remains sluggish, restrictive, and largely inaccessible to those who need it most. “While wealthy nations delay climate action and funding commitments, frontline countries are left fighting for survival. The international financial system is failing us, and we need bold solutions to shift the balance of power in climate finance. Over the past two decades, CVF countries have already lost 20% of their potential GDP growth due to climate impacts. We cannot rely on charity from industrialized nations. Urgent initiatives are needed to ensure direct and immediate access to climate finance.”

    Mobilizing private capital for climate resilience

    Through its globally leading international government advisory practice, Henley & Partners has been providing strategic consulting to countries on the development, implementation, and management of investment-based residence and citizenship programs. To date, the firm has facilitated over USD 15 billion in foreign direct investment in many states. Its most recent initiative led to the establishment of the first climate-related citizenship investment program, the Nauru Economic and Climate Resilience Citizenship Program.

    Commenting in the report, H.E. Hon. David W.R. Adeang, M.P., President of the Republic of Nauru, says “our program funds critical resilience initiatives — from coastal reinforcement to modernized water management and sustainable food production. Similar models have strengthened climate resilience in small island states like Grenada and Antigua and Barbuda, but Nauru’s is the first to put climate adaptation at its core. The innovations we implement against rising seas can help shape global strategies for resilience.”

    According to the UN, Small Island Developing States (SIDS) have suffered USD 153 billion in climate-related losses over the past five decades, despite contributing less than 1% of global emissions, and the financial burden on these nations is further exacerbated by a USD 34 billion climate adaptation finance gap. Compounding these challenges, 70% of SIDS exceed sustainable debt levels, and climate disaster damages in these regions have surged by 90% from 2011 to 2022.

    Dr. Juerg Steffen, CEO of Henley & Partners, says “by mobilizing international investment, we can provide immediate, non-debt funding for climate resilience projects, offering a crucial financial lifeline for vulnerable nations while enabling investors to support global climate action. Rethinking how private wealth and capital intersects with public financing needs is key to bridging the climate finance gap.”

    From sovereign debt to sovereign equity

    The report outlines how investment migration programs can be structured to create Investment Migration Resilience Funds (IMRFs) that channel private capital into critical climate resilience projects without increasing national debt. By linking these programs with natural capital endowment trusts, countries can secure sustainable revenue streams to finance coastal protection, carbon offset initiatives, and the expansion of the blue economy. Successful models of this approach include leveraging blue bonds, eco-tourism, and carbon credit markets to generate funds for climate adaptation and economic diversification.

    Henley & Partners’ Chief Economist Jean Paul Fabri explains how, “effective IMRFs will operate like sovereign wealth funds, aimed at reducing economic fluctuations, funding long-term sustainability initiatives, and providing a financial cushion against climate and economic challenges. However, they differ from traditional models by incorporating climate finance, risk management, and economic development into their governance.”

    “For too long, climate-vulnerable nations have been told to adapt, cope, and endure — as if resilience were simply an act of will, rather than a matter of investment,” insists Sara Jane Ahmed, Managing Director of CVF and V20 Finance Advisor at the CVF-V20 Secretariat. “By funding climate resilience, the world is not just aiding at-risk nations — it is unlocking markets, strengthening economies, and shaping a shared future. The future belongs not to those who wait, but to those bold enough to build it.”

    Read the Full Press Release

    Media Contact: Sarah Nicklin

    Group Head of PR

    sarah.nicklin@henleyglobal.com

    +27 72 464 8965

    The MIL Network

  • MIL-OSI: QuantHouse expands US equity market data offering with Cboe One Feed

    Source: GlobeNewswire (MIL-OSI)

    London, March 18, 2025 (GLOBE NEWSWIRE) — Iress today announced that its QuantHouse division is partnering with Cboe Global Markets, a leading global derivatives and securities exchange network and one of the largest US equity exchange operators, to increase its US equity market data offering through the Cboe One Feed.

    The Cboe One Feed is Cboe’s premier consolidated data feed and provides market participants with a cost-effective, high-quality and unified view of the market from Cboe’s US equity exchanges, with real-time reference quotes and trade data. Cboe operates four US equity exchanges and is one of the largest exchange operators for equities trading in the US. On average, Cboe One Feed quotes are within 1% away from the National Best Bid and Offer (NBBO) 97.26% of the time.1

    QuantHouse’s Head of EMEA Sales and Business Development, Rob Kirby, said: “We’re delighted to add the Cboe One Feed to the wide range of trading venues available from QuantHouse. Demand for Cboe One has initially come from our clients in Asia Pacific and this continues to demonstrate that our clients value choice and access to the widest range of global market data available.”

    Cboe’s Global Head of Data Vantage, Adam Inzirillo, added: “Cboe is committed to meeting the growing demand for access to US markets, particularly from APAC investors, by delivering access to high-quality and real-time market data as seamlessly and efficiently as possible. We are thrilled to expand on this mission through our collaboration with QuantHouse and providing their clients with access to the Cboe One Feed. 

    “Data drives decision making and is critical for trading strategy implementation, and the Cboe One Feed helps participants better understand the markets by providing real-time and highly reliable US market data.”

    The Cboe One Feed is available now for all QuantHouse clients.

    1Cboe: https://www.cboe.com/market_data_services/us/equities/cboe_one/

    -Ends-

    For further details, please contact:

    Melanie Budden

    Mobile: +44 (0) 7974 937970

    Email: melanie.budden@therealizationgroup.com

    About QuantHouse

    QuantHouse ( part of Iress) is a leading provider of international market data. It delivers high-performance API data feeds, historical and analytics data products it has crafted over the past 20+years to hedge funds, investment banks, brokers, market makers, financial technology providers and trading venues supporting integrated trading strategies, applications, and analytic databases.

    For more information please visit the website.

    About Iress

    Iress (IRE.ASX) is a technology company providing software to the financial services industry. We provide software and services for trading & market data, financial advice, investment management, superannuation, life & pensions and data intelligence in Asia-Pacific, North America, Africa, the UK and Europe.

    www.iress.com

    The MIL Network

  • MIL-OSI: IDEX Biometrics ASA: Results of the exercise of Warrants A

    Source: GlobeNewswire (MIL-OSI)

    Reference is made to the announcement by IDEX Biometrics ASA (the “Company”) on 12 December 2024 regarding the listing of Warrants A and Warrants B on Oslo Stock Exchange. Warrants A were exercisable between 28 February 2025 and 13 March 2025, and all Warrants A not exercised within such time lapsed without compensation to the holder.

    A total of 17,258 Warrants A were exercised, resulting in an aggregate subscription for 17,258 new shares (the “New Shares”) in the Company, each Warrant A having an exercise price of NOK 0.15.

    The Board of Directors of the Company has approved the allocation of New Shares to the exercising holders of Warrants A and has consequently resolved to increase the share capital of the Company.

    Payment for the allocated New Shares falls due one week after the Board’s resolution. The New Shares will be issued upon registration of the share capital increase in the Norwegian Register of Business Enterprises.

    Following registration of the share capital increase in connection with the exercise of Warrants A, the Company’s share capital will be NOK 124,739,134.80, divided into 831,594,232 shares each with a nominal value of NOK 0.15.

    For more information relating to the Warrants, please refer to the Prospectus approved and published by the Company on 13 November 2024.

    For further information contact:
    Marianne Bøe, Head of Investor Relations, Tel: +47 918 00186
    Kristian Flaten, CFO, Tel: +47 95092322
    E-mail: marianne.boe@idexbiometrics.com

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

    For more information, visit www.idexbiometrics.com (http://www.idexbiometrics.com)

    About this notice
    This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12.

    The MIL Network

  • MIL-OSI Asia-Pac: President Lai meets Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji

    Source: Republic of China Taiwan

    Details
    2025-03-17
    President Lai addresses opening of 2025 Yushan Forum
    On the morning of March 17, President Lai Ching-te attended the opening of the 2025 Yushan Forum, the theme of which was “New Southbound Policy+: Taiwan, the Indo-Pacific, and a New World.” In remarks, President Lai stated that the New Southbound Policy has led to great success in economic and trade cooperation, professional exchanges, resource sharing, and building regional links. He said that in the past, Taiwanese industries went from moving westward across the Taiwan Strait, to shifting southbound, to working closer with the north, but that now, Taiwan is confidently stepping across the Pacific, reaching eastward, to the Americas and other regions. While staying firmly rooted in Taiwan, he said, Taiwan’s enterprises are expanding their global presence and marketing worldwide. The president stated that Taiwan will strive alongside its partners in democracy to bolster non-red supply chains and digital solidarity, and together respond to the threats and challenges posed by expanding authoritarianism. He indicated that the Yushan Forum is a place to share experiences, and more importantly, lay down firm foundations for exchanges and cooperation among participants’ countries to create greater stability for the region and greater prosperity for the world. A transcript of President Lai’s remarks follows: On behalf of all the people of Taiwan, I want to welcome our good friends joining us from around the world. Your presence shows support for a peaceful and stable Taiwan and a free and open Indo-Pacific region. The Yushan Forum has become more than just an important platform for the New Southbound Policy. Over these eight years, more than 3,600 participants from Taiwan and 28 other countries have helped deepen Taiwan’s connections with nations around the world. The New Southbound Policy has led to great success in economic and trade cooperation, professional exchanges, resource sharing, and building regional links. Looking ahead, the Yushan Forum will be taking on the important mission of carrying its legacy forward and transforming it into action. Not only must we turn consensus into action plans for close cooperation among countries in the region; we must also work with partners around the world to forge ahead with cooperative plans for mutual prosperity. We hope to envision a new world from Taiwan – and see Taiwan in this new world. We are also embracing an era of smart technology. The government sessions of this Yushan Forum are therefore centered around topics including smart healthcare, smart transportation, and resilient supply chains for semiconductors. Taiwan is intent on working side by side with other countries to face the challenges of this new era. Today’s Taiwan celebrates not only the democratic achievements that are recognized by the international community, but also our strengths in the semiconductor and other tech industries, which enable us to play a key role in restructuring global democratic supply chains and the economic order. We are building on Taiwan as a “silicon island” for semiconductors while accelerating innovation and AI applications for industry. These efforts will help Taiwan become an “AI island” as well. We are also developing forward-looking fields such as quantum technology and precision medicine, which will create an industry ecosystem that is highly competitive and innovative. The government will also develop economic models powered by innovation. This will help SMEs (small- and medium-sized enterprises) upgrade and transform through the power of digital transformation and net-zero transition. In the past, Taiwanese industries went from moving westward across the Taiwan Strait, to shifting southbound, to working closer with the north. But now, we are confidently stepping across the Pacific, reaching eastward, to the Americas and other regions. While staying firmly rooted in Taiwan, our enterprises are expanding their global presence and marketing worldwide. Taiwan will continue to engage with the world, and we welcome the world to come closer to Taiwan. As we gather here today, I am confident that we share the same goal: Through international cooperation, we hope to build an even more inclusive, resilient, prosperous Indo-Pacific, while jointly defending the democracy, freedom, and peace we so firmly believe in. I want to thank you all once again for supporting Taiwan. We will strive alongside our partners in democracy to bolster non-red supply chains and digital solidarity, and together respond to the threats and challenges posed by expanding authoritarianism. Yushan is also known as Jade Mountain. It is Taiwan’s highest peak and stands as firm as our unwavering spirit. During this critical time of global change and transformation, the Yushan Forum is a place where we can share our experiences, and more importantly, lay down firm foundations for exchanges and cooperation among our countries. This way, we can create greater stability for the region and greater prosperity for the world. I wish everyone a successful forum. Thank you. Also in attendance at the event were former Prime Minister of Denmark and Alliance of Democracies Foundation Chairman Anders Fogh Rasmussen, former Prime Minister of the Republic of Slovenia Janez Janša, Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji, and American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-03-13
    President Lai attends Ministry of Foreign Affairs 2025 Spring Banquet  
    On the evening of March 13, President Lai Ching-te attended the Ministry of Foreign Affairs 2025 Spring Banquet for foreign ambassadors and representatives stationed in Taiwan. In remarks, President Lai thanked our diplomatic allies and like-minded countries for continuing to demonstrate their high regard and support for Taiwan at international venues. The president stated that a stronger Taiwan will be able to contribute even more to the world, explaining that is why he established the National Climate Change Committee, the Whole-of-Society Defense Resilience Committee, and the Healthy Taiwan Promotion Committee. He added that he hopes to pool our strengths so as to formulate national development strategies and enhance Taiwan’s international collaboration. The president also expressed hope of developing opportunities for cooperation with other countries across many domains to jointly advance democracy, peace, and prosperity throughout the region and around the world. A translation of President Lai’s remarks follows: Today is my first time attending the Ministry of Foreign Affairs Spring Banquet since becoming president. It is a pleasure to be able to meet and socialize with esteemed guests from other countries and good friends from all sectors of Taiwan. The global landscape has changed rapidly over the past year. Geopolitical volatility, the restructuring of supply chains, technological advancements, and other factors have had a profound impact on nations’ strategic plans. I want to take this opportunity to thank our diplomatic allies and like-minded countries for continuing to demonstrate their high regard and support for Taiwan at international venues. Last month, the leaders of the United States and Japan, the US secretary of state and the foreign ministers of Japan and the Republic of Korea, and the G7 foreign ministers all issued joint statements emphasizing the importance of peace and stability across the Taiwan Strait, underscoring Taiwan’s vital role in global progress and prosperity.  I would especially like to thank members of the diplomatic corps for working with us to build even closer partnerships between our countries. I have always believed that a stronger Taiwan will be able to contribute even more to the world. That is why, after taking office, I established the National Climate Change Committee, the Whole-of-Society Defense Resilience Committee, and the Healthy Taiwan Promotion Committee under the Office of the President. These committees continue to address global concerns and seek to solve important issues that impact our own people. I hope to pool our strengths so as to formulate national development strategies and enhance Taiwan’s international collaboration.  Last year, I visited our Pacific allies – the Republic of the Marshall Islands, Tuvalu, and the Republic of Palau. I deeply appreciated our friends’ warm hospitality and came to feel very deeply that we are like a family. Through local visits and mutual exchanges, we deepened our diplomatic alliances and cooperation, creating win-win outcomes. We also showed Taiwan’s determination to work with allies to tackle the many challenges related to climate change, net-zero transition, and digital transformation. At the start of this month, Taiwan hosted the first-ever workshop on whole-of-society defense resilience under the Global Cooperation and Training Framework. Experts and scholars from 30 countries participated in the discussions. I once again thank the diplomatic corps for their support and assistance. In the future, we look forward to developing opportunities for cooperation with other countries across many domains to jointly advance democracy, peace, and prosperity throughout the region and around the world. In the face of authoritarian expansion, Taiwan will continue to bolster its national defense capabilities. We will stand shoulder to shoulder with fellow democracies to demonstrate the strength of deterrence. We will also join hands to build non-red supply chains, strengthen our economic resilience, and promote an initiative on semiconductor supply chain partnerships for global democracies. All of this will ensure steady technological and economic development.  In my New Year’s Day address, I said that in this new year, we have many more brilliant stories of Taiwan to share with the world. Everyone gathered here tonight is a dear friend of Taiwan. And each of you plays an important role in the stories this land has to tell.  I am deeply grateful to you all for the incredible efforts you make in support of Taiwan. In so many ways, you connect Taiwan to the rest of the world and allow the world to see the many different sides of this amazing nation. I believe that through even deeper and more extensive cooperation, we will create many more wonderful stories of Taiwan and build an even brighter future together. I wish you all a pleasant evening. Also in attendance at the event were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman and other members of the foreign diplomatic corps in Taiwan.

    Details
    2025-03-04
    President Lai meets US Heritage Foundation founder Dr. Edwin Feulner
    On the afternoon of March 4, President Lai Ching-te met with a delegation led by founder of the US-based Heritage Foundation Dr. Edwin Feulner. In remarks President Lai thanked the foundation for publishing the 2025 Index of Economic Freedom, in which Taiwan ranked fourth globally and which recognized Taiwan’s sound legal foundation and ideal investment environment. The president said that Taiwan and the United States are important economic and trade partners and engage closely in industrial exchange. The president also expressed hope to expand investment in and procurement from the US in such areas as high-tech, energy, and agricultural products, and to work with the US and other democratic partners to create more resilient and diverse semiconductor supply chains to address new circumstances. A translation of President Lai’s remarks follows: It is a pleasure to welcome Dr. Feulner back to Taiwan today. I recall meeting with Dr. Feulner and Heritage Foundation President Kevin Roberts here at the Presidential Office at the end of last February. We had a fruitful discussion on Taiwan-US relations and regional affairs. When President Donald Trump was elected for his first term, Dr. Feulner played a crucial role in the administration’s transition team. Today, I look forward to hearing his thoughts on possible ways to further deepen relations between Taiwan and the US. I would like to thank the Heritage Foundation for publishing the 2025 Index of Economic Freedom, in which Taiwan ranked fourth globally. The report also recognized Taiwan’s sound legal foundation and ideal investment environment. Taiwan and the US are important economic and trade partners and engage closely in industrial exchange. The Taiwan Semiconductor Manufacturing Company’s (TSMC) historic US$65 billion investment in Arizona–negotiated and finalized during President Trump’s first term–is a case in point. And today, TSMC Chairman C.C. Wei (魏哲家) and President Trump jointly announced that the company would be expanding its investment in the US with new facilities. Looking ahead, we hope to expand investment in and procurement from the US in such areas as high-tech, energy, and agricultural products. We also look forward to working with the US and other democratic partners to create more resilient and diverse semiconductor supply chains to address new circumstances. At present, we continue to face authoritarian expansionism. As a country that deeply loves and staunchly defends freedom, Taiwan will collaborate with the US and other like-minded countries to maintain regional peace and stability. I would like to thank President Trump for his recent joint statement with Japanese Prime Minister Ishiba Shigeru, which emphasized the importance of maintaining peace and stability across the Taiwan Strait. And last month, the US was also part of a G7 foreign ministers’ statement in which “they strongly opposed any attempts to change unilaterally the status quo using force.” We firmly believe that only peace attained through one’s own strength can truly be called peace. Currently, Taiwan’s defense budget stands at approximately 2.5 percent of GDP. Going forward, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. Also, we will continue to reform national defense in the conviction that help comes most to those who help themselves. This will allow us to contribute even more to regional peace and stability. In closing, I once again thank Dr. Feulner for visiting and for demonstrating support of Taiwan. I wish you all a smooth and successful trip. Dr. Feulner then delivered remarks, first stating that on behalf of his successor, President Roberts, and all of his colleagues at the Heritage Foundation, it is his pleasure to present President Lai with the first copy of the 2025 Index of Economic Freedom. Pointing out that in the Index the Republic of China (Taiwan) is number four of 176 countries around the world in terms of its economic freedom, Dr. Feulner extended his congratulations to President Lai.  Dr. Feulner said he looks forward to a discussion about the present situation and how we can improve relations between the US and Taiwan. Dr. Feulner expressed his gratitude on hearing the wonderful announcement from TSMC, which was released right before his visit, that it will be expanding its investment in the US. In past trips, he said, he has had the opportunity to visit the TSMC headquarters in Taiwan, and fairly recently he has had the opportunity to view the site in Arizona where the construction continues and where the initial operations are beginning. He stated that they are proud to have TSMC now as an integral part of our responsible bilateral relationship. Dr. Feulner noted that while TSMC is of course very big, he also wants to express appreciation for all of the hundreds and hundreds of Taiwan-based companies that are strong, close partners throughout the US with American companies and with American people in terms of making a close and unified alliance of two freedom-loving countries.

    Details
    2025-03-04
    President Lai attends opening ceremony of GCTF Workshop on Whole-of-Society Resilience Building, Preparation, and Response
    On the morning of March 4, President Lai Ching-te attended the opening ceremony of the Global Cooperation and Training Framework (GCTF) Workshop on Whole-of-Society Resilience Building, Preparation, and Response. In remarks, President Lai stated that global challenges such as extreme weather, pandemics, and energy crises continue to emerge, and growing authoritarianism presents a grave threat to freedom-loving countries. These challenges have no borders, he said, and absolutely no single country can face them alone. The president said that as a responsible member of the international community, Taiwan is both willing and able to contribute even more to the democracy, peace, and prosperity of the world, and that the GCTF is an important platform where Taiwan can make those contributions by sharing its experiences with the rest of the world. President Lai indicated that Taiwan will join the forces of the central and local governments to enhance social resilience across the board, enhance disaster response capabilities in the community, and leverage its strengths to make contributions to the international community. He said that we are demonstrating to the world our determination to create an even more resilient Taiwan, and expressed hope to advance mutual assistance and exchanges with all the countries involved, so that we can together promote stability and prosperity around the world. A transcript of President Lai’s remarks follows: To begin, I would like to welcome more than 60 distinguished guests from 30 countries, as well as experts from Taiwan. You are all here for this GCTF workshop to discuss whole-of-society resilience building, preparation, and response. As a responsible member of the international community, Taiwan is both willing and able to contribute even more to the democracy, peace, and prosperity of the world. The GCTF is an important platform where Taiwan can make those contributions by sharing its experiences with the rest of the world. I want to thank our full GCTF partners, the United States, Japan, Australia, and Canada. Over the past several years, we have worked with even more countries through this framework and have expanded our exchanges into even more fields. Together, we have met all kinds of new challenges. I am confident that as our cooperation grows stronger, so will our ability to promote global progress. Each of today’s guests is contributing a vital force in that regard. I extend my sincere thanks to you all. Global challenges such as extreme weather, pandemics, and energy crises continue to emerge. And growing authoritarianism presents a grave threat to freedom-loving countries. These challenges have no borders, and absolutely no single country can face them alone. Taiwan holds a key position on the first island chain, and stands at the very frontline of the defense of democracy. With this joint workshop, we are demonstrating to the world our determination to create an even more resilient Taiwan. We are also aiming to advance our mutual assistance and exchanges with all the countries involved, so that we can make our societies more resilient and together promote stability and prosperity around the world. Moving forward, we will continue advancing the following three initiatives: First, we will join the forces of the central and local governments to enhance social resilience across the board. Just last year, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office. Civilian force training, strategic material preparation, and critical infrastructure operation and maintenance are all key discussion areas for our committee. These aim to enhance Taiwan’s resilience in national defense, economic livelihoods, disaster prevention, and democracy. They are also items on the agenda for this GCTF workshop. To cover all the bases, Taiwan must unite and cooperate as a team. Last year, our committee held the very first cross-sector tabletop exercise at the Presidential Office which included central and local government officials as well as civilian observers. We aim to test the government’s emergency response capabilities in high-intensity gray-zone operations and near-conflict situations. We will continue to hold exercises to help the central and local governments work together more efficiently, and strengthen Taiwan’s overall disaster response capabilities. Second is to enhance disaster response capabilities in the community. We fully understand that to build whole-of-society resilience, we must help people increase risk awareness, know how to respond to disasters, and develop abilities to help themselves, help one another, and work together. We are grateful to the American Institute in Taiwan (AIT) for collaborating with the Taiwan Development Association for Disaster Medical Teams to host “Take Action” workshops around the country since 2021. A 2.0 version is already in practice, and continues to train the public in first aid skills. Director of the AIT Taipei Office Raymond Greene and I took part in a Take Action event in New Taipei City last year and personally saw the positive outcomes of the training. In addition to the Take Action workshops, the government is also providing Disaster Relief Volunteer training for ages 11 to 89, and is continuing to expand its target audience. We have also set up Taiwan Community Emergency Response Teams at key facilities nationwide, enhancing the ability of these important facilities to respond independently to disasters. Civilian training will continue to be refined and expanded so that members of the public can serve as important partners in government-led disaster prevention and relief. Third, we will leverage Taiwan’s strengths to make contributions to the international community. The inspiration for our Disaster Relief Volunteer training comes from a similar program run by The Nippon Care-Fit Education Institute in Japan. I am confident that through exchanges like this workshop, Taiwan and other countries can also inspire one another in many areas, and enhance whole-of-society resilience in multiple ways. Taiwan also excels in information and communications and advanced technology. We will set up even more robust cybersecurity systems, expand usage of emerging technologies, and improve the ways we maintain domestic security. We hope that by leveraging our capabilities and sharing our experiences, Taiwan can contribute even more to the international community. I want to welcome all our partners once again, and thank AIT for co-hosting this event. Let’s continue down the path of advancing global security and developing resilience together. Because together, we can travel farther, and we can travel longer. Also in attendance at the event were Japan-Taiwan Exchange Association Deputy Representative Takaba Yo, Australian Office in Taipei Representative Robert Fergusson, and Canadian Trade Office in Taipei Executive Director Jim Nickel.

    Details
    2025-02-24
    President Lai meets Japanese House of Representatives Member Tamaki Yuichiro
    On the afternoon of February 24, President Lai Ching-te met with Japanese House of Representatives Member Tamaki Yuichiro. In remarks, President Lai noted that Taiwan and Japan are important trading partners. The president expressed hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones and build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. A translation of President Lai’s remarks follows: I would like to start by warmly welcoming Representative Tamaki on his first trip to Taiwan. Now is a key moment for the cooperative ties between Taiwan and Japan, and the fact that Representative Tamaki has chosen to take time out of his busy schedule to make this trip demonstrates his especially meaningful support for Taiwan. For this I want to express my deepest gratitude. At the beginning of this month, Japan and the United States held a summit meeting. In the post-summit joint leaders’ statement the government of Japan reiterated the importance of maintaining peace and stability across the Taiwan Strait, opposed any attempts to unilaterally change the status quo by force or coercion, and expressed support for Taiwan’s meaningful participation in international organizations. I would like to thank the government of Japan for these statements. Taiwan and Japan are both responsible members of the international community. I welcome an even firmer friendship between Japan and the US and hope to see cooperation among Taiwan, Japan, and the US become a solid force in consolidating peace and stability in the Indo-Pacific region. In addition to complex international conditions, we now also face the threat of China’s red supply chain. More and more countries are becoming increasingly concerned about such issues as economic security and supply chain resilience. As authoritarianism consolidates, democratic nations must also come closer in solidarity. Taiwan and Japan are important trading partners. I hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones, and that we can build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. Lastly, I would like once again to welcome Representative Tamaki to Taiwan and wish him a successful visit. I hope he departs Taiwan with a deep impression and that he will visit again. Representative Tamaki then delivered remarks, noting that this was his first visit to Taiwan and thanking President Lai and officials of the Taiwan government for their warm welcome. Pointing out that Taiwan-Japan ties are closer than ever thanks to the major efforts made on this front by President Lai since taking office, Representative Tamaki expressed his admiration and gratitude. Representative Tamaki pointed out that in a changing global landscape, Taiwan, Japan, and the Indo-Pacific region all face major changes, but he firmly believes that Taiwan-Japan relations will develop even further. Recalling President Lai’s previous remarks, the representative said that Japan and the US recently held a summit meeting that yielded important results. In the joint leaders’ statement, he noted, the two sides made a clear commitment regarding peace and stability across the Taiwan Strait and firmly opposed any attempts to unilaterally change the status quo by force or coercion. Representative Tamaki said that the ruling Liberal Democratic Party and the Komeito did not win a majority in last year’s House of Representatives general elections, while the number of seats held by his own Democratic Party for the People quadrupled. This result, he said, has filled him with a feeling of great responsibility. Moving forward, he intends to continue promoting Taiwan-Japan cooperation and strengthening relations. Also in attendance at the meeting was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-03-13
    President Lai holds press conference following high-level national security meeting
    On the afternoon of March 13, President Lai Ching-te convened a high-level national security meeting, following which he held a press conference. In remarks, President Lai introduced 17 major strategies to respond to five major national security and united front threats Taiwan now faces: China’s threat to national sovereignty, its threats from infiltration and espionage activities targeting Taiwan’s military, its threats aimed at obscuring the national identity of the people of Taiwan, its threats from united front infiltration into Taiwanese society through cross-strait exchanges, and its threats from using “integrated development” to attract Taiwanese businesspeople and youth. President Lai emphasized that in the face of increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and expressed hope that all citizens unite in solidarity to resist being divided. The president also expressed hope that citizens work together to increase media literacy, organize and participate in civic education activities, promptly expose concerted united front efforts, and refuse to participate in any activities that sacrifice national interests. As long as every citizen plays their part toward our nation’s goals for prosperity and security, he said, and as long as we work together, nothing can defeat us. A translation of President Lai’s remarks follows: At many venues recently, a number of citizens have expressed similar concerns to me. They have noticed cases in which members of the military, both active-duty and retired, have been bought out by China, sold intelligence, or even organized armed forces with plans to harm their own nation and its citizens. They have noticed cases in which entertainers willingly followed instructions from Beijing to claim that their country is not a country, all for the sake of personal career interests. They have noticed how messaging used by Chinese state media to stir up internal opposition in Taiwan is always quickly spread by specific channels. There have even been individuals making careers out of helping Chinese state media record united front content, spreading a message that democracy is useless and promoting skepticism toward the United States and the military to sow division and opposition. Many people worry that our country, as well as our hard-won freedom and democracy and the prosperity and progress we achieved together, are being washed away bit by bit due to these united front tactics. In an analysis of China’s united front, renowned strategic scholar Kerry K. Gershaneck expressed that China plans to divide and conquer us through subversion, infiltration, and acquisition of media, and by launching media warfare, psychological warfare, and legal warfare. What they are trying to do is to sow seeds of discord in our society, keep us occupied with internal conflicts, and cause us to ignore the real threat from outside. China’s ambition over the past several decades to annex Taiwan and stamp out the Republic of China has not changed for even a day. It continues to pursue political and military intimidation, and its united front infiltration of Taiwan’s society grows ever more serious. In 2005, China promulgated its so-called “Anti-Secession Law,” which makes using military force to annex Taiwan a national undertaking. Last June, China issued a 22-point set of “guidelines for punishing Taiwan independence separatists,” which regards all those who do not accept that “Taiwan is part of the People’s Republic of China” as targets for punishment, creating excuses to harm the people of Taiwan. China has also recently been distorting United Nations General Assembly Resolution 2758, showing in all aspects China’s increasingly urgent threat against Taiwan’s sovereignty. Lately, China has been taking advantage of democratic Taiwan’s freedom, diversity, and openness to recruit gangs, the media, commentators, political parties, and even active-duty and retired members of the armed forces and police to carry out actions to divide, destroy, and subvert us from within. A report from the National Security Bureau indicates that 64 persons were charged last year with suspicion of spying for China, which was three times the number of persons charged for the same offense in 2021. Among them, the Unionist Party, Rehabilitation Alliance Party, and Republic of China Taiwan Military Government formed treasonous organizations to deploy armed forces for China. In a democratic and free society, such cases are appalling. But this is something that actually exists within Taiwan’s society today. China also actively plots ways to infiltrate and spy on our military. Last year, 28 active-duty and 15 retired members of the armed forces were charged with suspicion of involvement in spying for China, respectively comprising 43 percent and 23 percent of all of such cases – 66 percent in total. We are also alert to the fact that China has recently used widespread issuance of Chinese passports to entice Taiwanese citizens to apply for the Residence Permit for Taiwan Residents, permanent residency, or the Resident Identity Card, in an attempt to muddle Taiwanese people’s sense of national identity. China also views cross-strait exchanges as a channel for its united front against Taiwan, marking enemies in Taiwan internally, creating internal divisions, and weakening our sense of who the enemy really is. It intends to weaken public authority and create the illusion that China is “governing” Taiwan, thereby expanding its influence within Taiwan. We are also aware that China has continued to expand its strategy of integrated development with Taiwan. It employs various methods to demand and coerce Taiwanese businesses to increase their investments in China, entice Taiwanese youth to develop their careers in China, and unscrupulously seeks to poach Taiwan’s talent and steal key technologies. Such methods impact our economic security and greatly increase the risk of our young people heading to China. By its actions, China already satisfies the definition of a “foreign hostile force” as provided in the Anti-Infiltration Act. We have no choice but to take even more proactive measures, which is my purpose in convening this high-level national security meeting today. It is time we adopt proper preventive measures, enhance our democratic resilience and national security, and protect our cherished free and democratic way of life. Next, I will be giving a detailed account of the five major national security and united front threats Taiwan now faces and the 17 major strategies we have prepared in response. I. Responding to China’s threats to our national sovereignty We have a nation insofar as we have sovereignty, and we have the Republic of China insofar as we have Taiwan. Just as I said during my inaugural address last May, and in my National Day address last October: The moment when Taiwan’s first democratically elected president took the oath of office in 1996 sent a message to the international community, that Taiwan is a sovereign, independent, democratic nation. Among people here and in the international community, some call this land the Republic of China, some call it Taiwan, and some, the Republic of China Taiwan. The Republic of China and the People’s Republic of China are not subordinate to each other, and Taiwan resists any annexation or encroachment upon our sovereignty. The future of the Republic of China Taiwan must be decided by its 23 million people. This is the status quo that we must maintain. The broadest consensus in Taiwanese society is that we must defend our sovereignty, uphold our free and democratic way of life, and resolutely oppose annexation of Taiwan by China. (1) I request that the National Security Council (NSC), the Ministry of National Defense (MND), and the administrative team do their utmost to promote the Four Pillars of Peace action plan to demonstrate the people’s broad consensus and firm resolve, consistent across the entirety of our nation, to oppose annexation of Taiwan by China. (2) I request that the NSC and the Ministry of Foreign Affairs draft an action plan that will, through collaboration with our friends and allies, convey to the world our national will and broad social consensus in opposing annexation of Taiwan by China and in countering China’s efforts to erase Taiwan from the international community and downgrade Taiwan’s sovereignty. II. Responding to China’s threats from infiltration and espionage activities targeting our military (1) Comprehensively review and amend our Law of Military Trial to restore the military trial system, allowing military judges to return to the frontline and collaborate with prosecutorial, investigative, and judicial authorities in the handling of criminal cases in which active-duty military personnel are suspected of involvement in such military crimes as sedition, aiding the enemy, leaking confidential information, dereliction of duty, or disobedience. In the future, criminal cases involving active-duty military personnel who are suspected of violating the Criminal Code of the Armed Forces will be tried by a military court. (2) Implement supporting reforms, including the establishment of a personnel management act for military judges and separate organization acts for military courts and military prosecutors’ offices. Once planning and discussion are completed, the MND will fully explain to and communicate with the public to ensure that the restoration of the military trial system gains the trust and full support of society. (3) To deter the various types of controversial rhetoric and behavior exhibited by active-duty as well as retired military personnel that severely damage the morale of our national military, the MND must discuss and propose an addition to the Criminal Code of the Armed Forces on penalties for expressions of loyalty to the enemy as well as revise the regulations for military personnel and their families receiving retirement benefits, so as to uphold military discipline. III. Responding to China’s threats aimed at obscuring the national identity of the people of Taiwan (1) I request that the Ministry of the Interior (MOI), Mainland Affairs Council (MAC), and other relevant agencies, wherever necessary, carry out inspections and management of the documents involving identification that Taiwanese citizens apply for in China, including: passports, ID cards, permanent residence certificates, and residence certificates, especially when the applicants are military personnel, civil servants, or public school educators, who have an obligation of loyalty to Taiwan. This will be done to strictly prevent and deter united front operations, which are performed by China under the guise of “integrated development,” that attempt to distort our people’s national identity. (2) With respect to naturalization and integration of individuals from China, Hong Kong, and Macau into Taiwanese society, more national security considerations must be taken into account while also attending to Taiwan’s social development and individual rights: Chinese nationals applying for permanent residency in Taiwan must, in accordance with the law of Taiwan, relinquish their existing household registration and passport and may not hold dual identity status. As for the systems in place to process individuals from Hong Kong or Macau applying for residency or permanent residency in Taiwan, there will be additional provisions for long-term residency to meet practical needs. IV. Responding to China’s threats from united front infiltration into Taiwanese society through cross-strait exchanges  (1) There are increasing risks involved with travel to China. (From January 1, 2024 to today, the MAC has received reports of 71 Taiwanese nationals who went missing, were detained, interrogated, or imprisoned in China; the number of unreported people who have been subjected to such treatment may be several times that. Of those, three elderly I-Kuan Tao members were detained in China in December of last year and have not yet been released.) In light of this, relevant agencies must raise public awareness of those risks, continue enhancing public communication, and implement various registration systems to reduce the potential for accidents and the risks associated with traveling to China. (2) Implement a disclosure system for exchanges with China involving public officials at all levels of the central and local government. This includes everyone from administrative officials to elected representatives, from legislators to village and neighborhood chiefs, all of whom should make the information related to such exchanges both public and transparent so that they can be accountable to the people. The MOI should also establish a disclosure system for exchanges with China involving public welfare organizations, such as religious groups, in order to prevent China’s interference and united front activities at their outset. (3) Manage the risks associated with individuals from China engaging in exchanges with Taiwan: Review and approval of Chinese individuals coming to Taiwan should be limited to normal cross-strait exchanges and official interactions under the principles of parity and dignity, and relevant factors such as changes in the cross-strait situation should be taken into consideration. Strict restrictions should be placed on Chinese individuals who have histories with the united front coming to Taiwan, and Chinese individuals should be prohibited from coming to Taiwan to conduct activities related in any way to the united front. (4) Political interference from China and the resulting risks to national security should be avoided in cross-strait exchanges. This includes the review and management of religious, cultural, academic, and education exchanges, which should in principle be depoliticized and de-risked so as to simplify people-to-people exchanges and promote healthy and orderly exchanges. (5) To deter the united front tactics of a cultural nature employed by Chinese nationals to undermine Taiwan’s sovereignty, the Executive Yuan must formulate a solution to make our local cultural industries more competitive, including enhanced support and incentives for our film, television, and cultural and creative industries to boost their strengths in democratic cultural creation, raise international competitiveness, and encourage research in Taiwan’s own history and culture. (6) Strengthen guidance and management for entertainers developing their careers in China. The competent authorities should provide entertainers with guidelines on conduct while working in China, and make clear the scope of investigation and response to conduct that endangers national dignity. This will help prevent China from pressuring Taiwanese entertainers to make statements or act in ways that endanger national dignity. (7) The relevant authorities must adopt proactive, effective measures to prevent China from engaging in cognitive warfare against Taiwan or endangering cybersecurity through the internet, applications, AI, and other such tools. (8) To implement these measures, each competent authority must run a comprehensive review of the relevant administrative ordinances, measures, and interpretations, and complete the relevant regulations for legal enforcement. Should there be any shortcomings, the legal framework for national security should be strengthened and amendments to the National Security Act, Anti-Infiltration Act, Act Governing Relations between the People of the Taiwan Area and the Mainland Area, Laws and Regulations Regarding Hong Kong & Macao Affairs, or Cyber Security Management Act should be proposed. Communication with the public should also be increased so that implementation can happen as soon as possible. V. Responding to threats from China using “integrated development” to attract Taiwanese businesspeople and youth (1) I request that the NSC and administrative agencies work together to carry out strategic structural adjustments to the economic and trade relations between Taiwan and China based on the strategies of putting Taiwan first and expanding our global presence while staying rooted in Taiwan. In addition, they should carry out necessary, orderly adjustments to the flow of talent, goods, money, and skills involved in cross-strait economic and trade relations based on the principle of strengthening Taiwan’s foundations to better manage risk. This will help boost economic security and give us more power to respond to China’s economic and trade united front and economic coercion against Taiwan. (2) I request that the Ministry of Education, MAC, Ministry of Economic Affairs, and other relevant agencies work together to comprehensively strengthen young students’ literacy education on China and deepen their understanding of cross-strait exchanges. I also request these agencies to widely publicize mechanisms for employment and entrepreneurship for Taiwan’s youth and provide ample information and assistance so that young students have more confidence in the nation’s future and more actively invest in building up and developing Taiwan. My fellow citizens, this year marks the 80th anniversary of the end of the Second World War. History tells us that any authoritarian act of aggression or annexation will ultimately end in failure. The only way we can safeguard freedom and prevail against authoritarian aggression is through solidarity. As we face increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and to ensure that the freedom, democracy, and way of life of Taiwan’s 23 million people continues on as normal. But relying solely on the power of the government is not enough. What we need even more is for all citizens to stay vigilant and take action. Every citizen stands on the frontline of the defense of democracy and freedom. Here is what we can do together: First, we can increase our media literacy, and refrain from spreading and passing on united front messaging from the Chinese state. Second, we can organize and participate in civic education activities to increase our knowledge about united front operations and build up whole-of-society defense resilience. Third, we can promptly expose concerted united front efforts so that all malicious attempts are difficult to carry out. Fourth, we must refuse to participate in any activities that sacrifice national interests. The vigilance and action of every citizen forms the strongest line of defense against united front infiltration. Only through solidarity can we resist being divided. As long as every citizen plays their part toward our nation’s goals for prosperity and security, and as long as we work together, nothing can defeat us.

    MIL OSI Asia Pacific News

  • MIL-Evening Report: Politics with Michelle Grattan: Barbara Pocock on the Greens’ policy priorities

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    The Greens have heaped a lot of pressure on the government during this term, from issues of the environment, housing, and Medicare, to the war in the Middle East.

    With the polls close to a dead heat and minority government appearing a real possibility, would the Greens push a minority Labor government even harder in pursuit of their agenda?

    To talk about the Greens’ policies and prospects, we’re joined by South Australian Greens senator Barbara Pocock, who is the party’s spokeswoman on employment, the public sector and finance.

    After their efforts in this term, Pocock says the Greens would be just as tough in pushing a possible Labor minority government next term:

    People can judge us on our record in the last few years. People saw us really fight hard on housing – we wanted to see something meaningful. It is the most significant post-war crisis in housing that is affecting millions of Australians’ lives and certainly an intergenerational crisis.

    So we held out for a long time to try and push Labor to improve its offering on public housing [and] on housing spending and we achieved some real wins there. We will fight hard for the things that matter.

    We will push very hard on those core issues of a better health system, putting dental into Medicare. We pushed very hard on that in the last time there was a minority government and won it for kids. We want to see everyone be able to get to the dentist, and we really want to see reductions in student debt.

    However, Pocock stresses that keeping Peter Dutton out of government remains a key focus:

    We are very focused on preventing a Dutton Coalition government, because everything we hear from that stable sends a shiver down my spine.

    Pocock did a lot of work during the Senate inquiry investigating consulting services and she warns Dutton’s policy to cut 36,000 public servants would lead to a return to consultants:

    In that last year of the Morrison government, we saw a spend of $20 billion on consulting and labour hire and a hollowing out in the public sector. We are still seeing a slow regrowth of the capability of the federal public sector following the scandals relating to the consulting industry and the way it worked with government.

    I am very worried about the Coalition’s proposals for a 36,000 cut in the public sector. That’s one in five public sector workers gone and that means services like Centrelink, Veterans Affairs, services that Australians depend on cannot deliver on what they suggest. And we also need to remember that a very significant number – something like two-thirds of our public service, federal public service – actually live outside Canberra.

    All they would be doing is taking that money, which pays for public servants, doing a whole range of many different things and taking it across to, in many cases, their supporters and buddies and donors in the consulting and labour hire industry and it’s a very bad value-for-money proposition for the Australian voter.

    As spokeswoman on employment, Pocock is a strong advocate for the Greens policies on a four-day work week:

    If we go right back to 1856 when Australia led the world on reducing working hours, and the eight-hour day, now we were the first to adopt that internationally for stonemasons in Melbourne. And in the last 40 years, [we] have not seen any reduction in average working time. It’s been 38 hours now since 1983. In that 40 years, we’ve seen massive changes in technology. We have seen increases in productivity. And in the last 10 years, we’ve seen private profit increase by 97% while wages have gone up by 50%. And what we’re saying is, let’s look at the length of the average full-time working week and let’s see how we can move the dial on that.

    We’d certainly like to see a wide range of pilots, diverse experimentation, real change, working with those who are ready for it, who are up for it, but making sure we collect the evidence and then move over time towards a national test case, which is the way in which over decades we have slowly ratcheted back the length of the working week.

    On the attack from the opposition and others that the Greens are anti-Semitic, Pocock defends the Greens as an anti-racist party.

    I think there are diverse views out there in the community and certainly, and we can see it every day, but I think that there are also many people, including many Jewish people, who understand that you can have a critique of a war that’s had such a terrible consequence for civilian women and children in Gaza, and you can still take a very strong position in relation to the kinds of attacks we’ve seen on the Jewish community, for example.

    We are an anti-racist party. We want to call out behaviour which is wrong wherever it happens and we have certainly been critical of the behaviour of the Israeli state, their military, and the way they continue to conduct a war against the civilians in Gaza.

    Michelle Grattan 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. Politics with Michelle Grattan: Barbara Pocock on the Greens’ policy priorities – https://theconversation.com/politics-with-michelle-grattan-barbara-pocock-on-the-greens-policy-priorities-252502

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Treasurer Chalmers promises ‘meaningful and substantial’ cost of living help in Tuesday’s budget

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Next week’s budget will have cost-of-living assistance that will be meaningful and substantial but “responsible”, Treasurer Jim Chalmers has said.

    In a Tuesday speech framing the budget Chalmers said, “it will be a responsible budget which helps with the cost of living, builds our future, and makes our economy more resilient in the new world of global uncertainty”.

    He said the budget would have five major priorities:

    • helping the recovery and rebuild following Cyclone Alfred, for which it will provide $1.2 billion

    • helping with the cost of living and finishing the fight against inflation

    • strengthening Medicare and funding more urgent care clinics

    • putting money into every stage of education

    • making the economy more competitive and productive.

    In the question-and-answer part of his appearance at the Queensland Media Club Chalmers refused to be drawn on whether the cost-of-living relief would include more help on power bills, as is widely expected.

    He was also put on the spot about his future leadership ambitions, initially being asked whether, given federal Labor’s poor showing in Queensland, it would do better with a leader from that state.

    After diverting the question with a joke and a vigorous defence of Anthony Albanese’s “practical pragmatism” and his appreciation of Queensland, he was asked directly, “So you don’t have aspirations to become leader one day yourself?” “No”, he replied.

    Chalmers is lowering expectations of extensive new initiatives being announced next Tuesday, because big spending measures in health, education and infrastructure have been announced.

    The budget will project deficits throughout the forward estimates. But Chalmers said Treasury did not expect the bottom line this year or the coming years to be substantially changed from the mid year update.

    In the mid-year update release in December, Treasury said it expected the deficit this financial year to be $26.9 billion. The deficit was forecast to increase further next year to $46.9 billion, compared with $42.8 billion forecast in last year’s budget.

    Chalmers sought to scotch incorrect predictions he said had been made.

    “For example, some commentators have made wild and wide-of-the-mark predictions about big surges in revenue.

    “Some wrongly predict the tax-to-GDP ratio will go up this year, when Treasury expects it to be stable or even a bit down.

    “Revenue upgrades have actually come off very significantly since the highs of October 2022.”

    Chalmers argued the Australian economy “has turned a corner” but acknowledged “a new world of uncertainty” in which it was operating.

    “The global economy is volatile and unpredictable.

    “There’s a new US administration disrupting trade, a slowdown in China, war in eastern Europe and a fragile ceasefire in the Middle East, division and dissatisfaction around the world.

    “Overnight, the OECD downgraded its growth expectations for next year and the year after.”

    The OECD cut its forecasts for GDP growth to just 1.8% in 2026, down from an earlier forecast of 2.5%.

    “Treasury forecasts in the Budget will have Chinese and American growth slowing to around 4.5 and 2 per cent next year, respectively.

    “The forecasts for the US are the same as the mid-year update but the downside risks are weighing more heavily now.

    “Unemployment is rising overseas from higher interest rates, and in the UK inflation is going up again.

    “This is the global backdrop for the Budget.”

    Chalmers repeated the government’s criticism of the US failure to grant an exemption from the steel and aluminium tariffs.

    He said Treasury had modelled the impact of tariffs on our economy, both before the US election, and after the inauguration.

    “Treasury estimates the direct hit to GDP from steel and aluminium tariffs would be less than 0.02 per cent by 2030. So the direct overall impacts on Australia should be manageable.

    “But when you add in the indirect effects, the hit to GDP could be more like 0.1 per cent by 2030.

    “In fact, over a range of scenarios, Treasury found the indirect GDP impacts of a trade war could be up to four times larger than the direct effects of tariffs on our economy.

    “In a world of retaliation and escalation, the impacts of tariffs are amplified, they linger for longer, resulting in a bigger reduction in GDP and a bigger increase in prices.”

    Michelle Grattan 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. Treasurer Chalmers promises ‘meaningful and substantial’ cost of living help in Tuesday’s budget – https://theconversation.com/treasurer-chalmers-promises-meaningful-and-substantial-cost-of-living-help-in-tuesdays-budget-252173

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: The Israel-Hamas ceasefire failed to resolve many deep-seated issues. Now, it appears to be shattered

    Source: The Conversation (Au and NZ) – By Marika Sosnowski, Postdoctoral research fellow, The University of Melbourne

    When a ceasefire in the war between Hamas and Israel finally came into effect on January 19, the world breathed a collective sigh of relief.

    However, that ceasefire agreement, and its associated negotiations, have now been cast aside by new Israeli attacks on Gaza.

    A statement from Israeli Prime Minister Benjamin Netanyahu’s office said the strikes came after Hamas’ “repeated refusals” to “release our hostages”, and the group’s rejection of all proposals presented by US President Donald Trump’s Middle East envoy, Steve Witkoff.

    Even before Israel cut off all humanitarian aid and electricity to Gaza in the past two weeks, Hamas claimed it had not met the levels of humanitarian aid, shelter and fuel it agreed to provide in the terms of the ceasefire. However, this is a distraction from a larger issue.

    This ceasefire was always more like a strangle contract than a negotiated agreement between equal parties. Israel, as the party with far greater military and political power, has always had the upper hand.

    And while the first phase of the ceasefire, which lasted 42 days, saw the successful release of 33 hostages held by Hamas in exchange for nearly 1,800 Palestinian prisoners, the ceasefire also enabled Israel to use it for its own political and military ends.

    Buying time

    The most common conventional concern about ceasefires is that the parties to a conflict will use them for their own ends.

    Typically, the worry is that non-state armed groups, such as Hamas, will use the halt in violence to buy time to regroup, rearm and rebuild their strength to continue fighting.

    But states such as Israel have this ability, too. Even though they have standing armies that might not need to regroup and rearm in the same way, states can use this time to manoeuvre in the international arena – a space largely denied to non-state actors.

    Trump’s rise to power in the US has seemingly given the Israeli government carte blanche to proceed in ways that were arguably off limits to previous US presidents who were also largely supportive of Israel’s actions.

    This includes the plan of forcing Gaza’s population out of the strip. This plan was raised earlier in the war by Trump advisor Jared Kushner and Israeli officials as a supposed humanitarian initiative.

    Trump has now repeated the call to relocate Palestinians from Gaza to Egypt and Jordan – or possibly other parts of Africa – and for the US to take “ownership” of the coastal strip and turn it into the “Riviera of the Middle East”.

    On the face of it, this plan would be a war crime. But even if it is never fully implemented, the fact it is being promoted by Trump after many years of domestic Israeli and international opprobrium shows how political ideas once thought unacceptable can take on a life of their own.

    Political and military maneouvering

    Israel has also used the ceasefire to pursue larger political and military goals in Gaza, the West Bank, southern Lebanon and Syria.

    Even though the ceasefire did reduce overall levels of violence in Gaza, Israel has continued to carry out attacks on targets in the strip.

    It has also escalated the construction of settlements and carried out increasingly violent operations in the West Bank. In addition, there have been egregious attacks on Palestinian residents in Israel.

    And though nearly 1,800 Palestinian prisoners were released during the ceasefire, Israel was holding more than 9,600 Palestinians in detention on “security grounds” at the end of 2024. Thousands more Palestinians are being held by Israel in administrative detention, which means without trial or charge.

    During the ceasefire, Israel also accelerated efforts to evict the UN agency for Palestinian refugees, UNRWA, from its headquarters in East Jerusalem. And the Israeli government has also proposed increasingly draconian laws aimed at restraining the work of Israeli human rights organisations.

    On the military front, the ceasefire arguably alleviated some pressure on Israel, giving it time to consolidate its territorial and security gains against Hezbollah in southern Lebanon and in Syria.

    In the past two months, two deadlines for the withdrawal of Israeli forces from southern Lebanon passed. Israel has instead proposed establishing a buffer zone on Lebanese territory and has begun destroying villages, uprooting olive trees and building semi-permanent outposts along the border.

    In a speech in February, Netanyahu also demanded the “complete demilitarisation of southern Syria” following the fall of Bashar al-Assad’s regime. And Defence Minister Israel Katz said this month Israel would keep its troops in southern Syria to “protect” residents from any threats from the new Syrian regime.

    Be careful what you wish for

    While Palestinians are known for their sumud – usually translated as steadfastness or tenacity – there is a limit to what humans can endure. The war, and subsequent ceasefires, have created a situation in which Gazans may have to put the survival and wellbeing of themselves and their families above their desire to stay in Palestine.

    There is a general assumption that ceasefires are positive and humanitarian in nature. But ceasefires are not panaceas. In reality, they are a least-worst option for stopping the violence of war for often just a brief period.

    A ceasefire was never going to be the solution to the decades-old conflict between Israel and the Palestinians. Instead, it has turned out to be part of the problem.

    Marika Sosnowski 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. The Israel-Hamas ceasefire failed to resolve many deep-seated issues. Now, it appears to be shattered – https://theconversation.com/the-israel-hamas-ceasefire-failed-to-resolve-many-deep-seated-issues-now-it-appears-to-be-shattered-249944

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: The Israel-Hamas ceasefire didn’t resolve any deep-seated issues. Now, it appears to be shattered

    Source: The Conversation (Au and NZ) – By Marika Sosnowski, Postdoctoral research fellow, The University of Melbourne

    When a ceasefire in the war between Hamas and Israel finally came into effect on January 19, the world breathed a collective sigh of relief.

    However, that ceasefire agreement, and its associated negotiations, have now been cast aside by new Israeli attacks on Gaza.

    A statement from Israeli Prime Minister Benjamin Netanyahu’s office said the strikes came after Hamas’ “repeated refusals” to “release our hostages”, and the group’s rejection of all proposals presented by US President Donald Trump’s Middle East envoy, Steve Witkoff.

    Even before Israel cut off all humanitarian aid and electricity to Gaza in the past two weeks, Hamas claimed it had not met the levels of humanitarian aid, shelter and fuel it agreed to provide in the terms of the ceasefire. However, this is a distraction from a larger issue.

    This ceasefire was always more like a strangle contract than a negotiated agreement between equal parties. Israel, as the party with far greater military and political power, has always had the upper hand.

    And while the first phase of the ceasefire, which lasted 42 days, saw the successful release of 33 hostages held by Hamas in exchange for nearly 1,800 Palestinian prisoners, the ceasefire also enabled Israel to use it for its own political and military ends.

    Buying time

    The most common conventional concern about ceasefires is that the parties to a conflict will use them for their own ends.

    Typically, the worry is that non-state armed groups, such as Hamas, will use the halt in violence to buy time to regroup, rearm and rebuild their strength to continue fighting.

    But states such as Israel have this ability, too. Even though they have standing armies that might not need to regroup and rearm in the same way, states can use this time to manoeuvre in the international arena – a space largely denied to non-state actors.

    Trump’s rise to power in the US has seemingly given the Israeli government carte blanche to proceed in ways that were arguably off limits to previous US presidents who were also largely supportive of Israel’s actions.

    This includes the plan of forcing Gaza’s population out of the strip. This plan was raised earlier in the war by Trump advisor Jared Kushner and Israeli officials as a supposed humanitarian initiative.

    Trump has now repeated the call to relocate Palestinians from Gaza to Egypt and Jordan – or possibly other parts of Africa – and for the US to take “ownership” of the coastal strip and turn it into the “Riviera of the Middle East”.

    On the face of it, this plan would be a war crime. But even if it is never fully implemented, the fact it is being promoted by Trump after many years of domestic Israeli and international opprobrium shows how political ideas once thought unacceptable can take on a life of their own.

    Political and military maneouvering

    Israel has also used the ceasefire to pursue larger political and military goals in Gaza, the West Bank, southern Lebanon and Syria.

    Even though the ceasefire did reduce overall levels of violence in Gaza, Israel has continued to carry out attacks on targets in the strip.

    It has also escalated the construction of settlements and carried out increasingly violent operations in the West Bank. In addition, there have been egregious attacks on Palestinian residents in Israel.

    And though nearly 1,800 Palestinian prisoners were released during the ceasefire, Israel was holding more than 9,600 Palestinians in detention on “security grounds” at the end of 2024. Thousands more Palestinians are being held by Israel in administrative detention, which means without trial or charge.

    During the ceasefire, Israel also accelerated efforts to evict the UN agency for Palestinian refugees, UNRWA, from its headquarters in East Jerusalem. And the Israeli government has also proposed increasingly draconian laws aimed at restraining the work of Israeli human rights organisations.

    On the military front, the ceasefire arguably alleviated some pressure on Israel, giving it time to consolidate its territorial and security gains against Hezbollah in southern Lebanon and in Syria.

    In the past two months, two deadlines for the withdrawal of Israeli forces from southern Lebanon passed. Israel has instead proposed establishing a buffer zone on Lebanese territory and has begun destroying villages, uprooting olive trees and building semi-permanent outposts along the border.

    In a speech in February, Netanyahu also demanded the “complete demilitarisation of southern Syria” following the fall of Bashar al-Assad’s regime. And Defence Minister Israel Katz said this month Israel would keep its troops in southern Syria to “protect” residents from any threats from the new Syrian regime.

    Be careful what you wish for

    While Palestinians are known for their sumud – usually translated as steadfastness or tenacity – there is a limit to what humans can endure. The war, and subsequent ceasefires, have created a situation in which Gazans may have to put the survival and wellbeing of themselves and their families above their desire to stay in Palestine.

    There is a general assumption that ceasefires are positive and humanitarian in nature. But ceasefires are not panaceas. In reality, they are a least-worst option for stopping the violence of war for often just a brief period.

    A ceasefire was never going to be the solution to the decades-old conflict between Israel and the Palestinians. Instead, it has turned out to be part of the problem.

    Marika Sosnowski 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. The Israel-Hamas ceasefire didn’t resolve any deep-seated issues. Now, it appears to be shattered – https://theconversation.com/the-israel-hamas-ceasefire-didnt-resolve-any-deep-seated-issues-now-it-appears-to-be-shattered-249944

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: NBPE Announces February Monthly NAV Estimate

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey   18 March 2025

    NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 28 February 2025 monthly NAV estimate.

    NAV Highlights (28 February 2025)

    • NAV per share was $27.16 (£21.57), a total return of 0.2% in the month
    • Approximately 87% of fair value based on private company valuation information as of Q4 2024 or based on 28 February 2025 quoted prices
    • Based on information received so far, private company valuations increased by 3.1% during Q4 2024 on a constant currency basis
    • NBPE expects to receive additional updated Q4 2024 financial information which will be incorporated in the monthly NAV updates in the coming weeks
    • $279 million of available liquidity at 28 February 2025
    • ~220k shares repurchased during February 2025 at a weighted average discount of 27% which were accretive to NAV by ~$0.04 per share. Year to date, NBPE has repurchased ~359k at a weighted average discount of 28% which were accretive to NAV by ~$0.06 per share
    As of 28 February 2025 Year to Date One Year 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised
    2.7% 1.6% (0.2%)
    (0.1%)
    72.3%
    11.5%
    165.3%
    10.3%
    MSCI World TR (USD)*
    Annualised
    2.8% 16.1% 35.8%
    10.7%
    96.4%
    14.5%
    168.9%
    10.4%
               
    Share price TR (GBP)*
    Annualised
    1.6% (0.1%) 11.3%
    3.6%
    77.8%
    12.2%
    205.5%
    11.8%
    FTSE All-Share TR (GBP)*
    Annualised
    6.9% 18.4% 27.7%
    8.5%
    53.4%
    8.9%
    82.7%
    6.2%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 28 February 2025

    NAV performance during the month driven by:

    • 0.3% NAV increase ($3 million) from the value of quoted holdings (which now constitute 6% of portfolio fair value)
    • 0.1% NAV decrease ($2 million) attributable to expense accruals
    • Immaterial NAV change from new private company valuation information and changes in FX

    $29 million of realisations in 2025 year to date

    • $26 million of realisations received during the month of February, consisting primarily of exit proceeds from NBPE’s investment in USI and a partial realisation in Tendam

    $279 million of total liquidity at 28 February 2025

    • $69 million of cash and liquid investments with $210 million of undrawn credit line available

    2025 Share Buybacks

    • ~220k shares repurchased in February 2025 at a weighted average discount of 27%; buybacks were accretive to NAV by ~$0.04 per share
    • On 19 February 2025, NBPE’s board announced that it had reserved $120 million for buybacks over the next three years
    • Year to date, NBPE has repurchased ~359k at a weighted average discount of 28% which were accretive to NAV by ~$0.06 per share

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 28 February 2025 was based on the following information:

    • 6% of the portfolio was valued as of 28 February 2025
      • 6% in public securities
    • 81% of the portfolio was valued as of 31 December 2024
      • 81% in private direct investments
    • 13% of the portfolio was valued as of 30 September 2024
      • 13% in private direct investments

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 28 February 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 74.8 5.9%
    Osaic 2019 Reverence Capital Financial Services 68.9 5.4%
    Solenis 2021 Platinum Equity Industrials 60.0 4.7%
    BeyondTrust 2018 Francisco Partners Technology / IT 50.0 3.9%
    Monroe Engineering 2021 AEA Investors Industrials 42.6 3.3%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.1%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 39.2 3.1%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 35.5 2.8%
    Mariner 2024 Leonard Green & Partners Financial Services 34.8 2.7%
    FDH Aero 2024 Audax Group Industrials 33.0 2.6%
    True Potential 2022 Cinven Financial Services 32.2 2.5%
    Staples 2017 Sycamore Partners Business Services 31.6 2.5%
    Marquee Brands 2014 Neuberger Berman Consumer 31.2 2.4%
    Fortna 2017 THL Industrials 28.7 2.3%
    Auctane 2021 Thoma Bravo Technology / IT 28.7 2.3%
    Viant 2018 JLL Partners Healthcare 27.1 2.1%
    Stubhub 2020 Neuberger Berman Consumer 26.5 2.1%
    Benecon 2024 TA Associates Healthcare 26.0 2.0%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.4 1.9%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 24.1 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.9%
    Kroll 2020 Further Global / Stone Point Financial Services 23.6 1.8%
    Qpark 2017 KKR Transportation 22.0 1.7%
    Excelitas 2022 AEA Investors Industrials 21.9 1.7%
    CH Guenther 2021 Pritzker Private Capital Consumer 21.4 1.7%
    Exact 2019 KKR Technology / IT 21.4 1.7%
    AutoStore (OB.AUTO) 2019 THL Industrials 19.5 1.5%
    Bylight 2017 Sagewind Partners Technology / IT 19.5 1.5%
    Real Page 2021 Thoma Bravo Technology / IT 18.5 1.5%
    Total Top 30 Investments                             $976.2 76.5%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 78%
    Europe 21%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 23%
    Consumer / E-commerce 21%
    Industrials / Industrial Technology 17%
    Financial Services 14%
    Business Services 12%
    Healthcare 8%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 16%
    2018 15%
    2019 14%
    2020 12%
    2021 18%
    2022 5%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $508 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm’s leadership in stewardship and sustainable investing is recognized by the PRI based on its consecutive above median reporting assessment results. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of 31 December 2024, unless otherwise noted.


    1Based on net asset value.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    Attachment

    The MIL Network

  • MIL-OSI: Information to be delivered by Šiaulių Bankas at the Investor Conference Webinar on Rebranding

    Source: GlobeNewswire (MIL-OSI)

    The webinar will be hosted by Vytautas Sinius, CEO and Raimonda Gudaitė, CMO, who will introduce the Rebranding of the Bank.

     

    Please find enclosed the information to be delivered during the presentation.

     

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    Attachment

    The MIL Network

  • MIL-OSI Australia: Business News ‘Politics & Business’ breakfast

    Source: Australian Government – Minister of Foreign Affairs

    Acknowledgements omitted

    I always enjoy the perspective of Western Australia and Perth which reflect your economic position and your geographic position, so close to Southeast Asia and so engaged with the regional economies.

    I know the business community thinks deeply about what it means to protect and promote Australia’s interests in an increasingly uncertain world.

    I know you think deeply about how we shore up Australia’s prosperity despite that uncertainty. I don,t need to tell this room, Western Australia is vital to that prosperity: when you succeed, the whole country prospers.

    That success includes WA resources, metals, critical minerals and rare earths but it also includes WA manufacturers and workers, your universities, research and technology, which are all globally prized.

    So what’s my role as Foreign Minister? Amongst other things and importantly, it is to help create opportunities, and promote and protect Australia’s interests as a reliable exporter of choice in an increasingly competitive international environment.

    Our foreign policy helps build and maintain the strategic conditions that enable our stability and prosperity.

    And you have to say that is a task that is not getting any easier.

    Each day, our assumptions are being tested.

    We live in a world of increasing strategic surprise. We live in a world that is ever more uncertain and unpredictable.

    We see the devastating human toll of conflicts including in Ukraine, Gaza and Sudan.

    Malign actors continue to engage in sabotage and terrorism.

    Bullies threaten to use nuclear weapons, and authoritarianism is spreading.

    Some countries are shifting alignment, high global inflation continues to put pressure on working people.

    And institutions that we helped build are being eroded and rules that we helped write are being challenged.

    These factors compound threats and risks in our own region from a changing climate, military buildup without transparency, and disruption of trade – as well as the risks inherent in great power competition.

    I recently released the 2025 Snapshot of Australia in the World, a summary of our foreign policy strategy, priorities and policy achievements.

    What it clearly shows is that even though we face a time of growing uncertainty, Australia is well-placed to protect our security, our stability and our prosperity.

    But that is only if we continue to build our disciplined focus on our region, because it is here where our interests are most at stake; if we invest not only in traditional but also in more diverse relationships; and if we work with partners to uphold international rules that protect us all.

    We have to apply ourselves to these tasks with ambition and calm, consistent and disciplined engagement.

    This is the approach the Albanese Government is taking with the United States.

    President Trump’s America First agenda envisages a very different role for America in the world, and that is what the American people have chosen.

    President Trump campaigned on change and none of us should try to minimise the implications of this change.

    And over the first seven weeks of the Trump Administration we have seen how broad those implications are around the world.

    Mindful of the scale of this change involving our most important strategic partner, there has been extensive engagement across senior levels of the Albanese Government.

    In addition to our relentless Ambassador in Washington, the Prime Minister has had two productive phone calls with the President.

    I had the honour of being the first Australian Foreign Minister ever to be invited to attend a Presidential Inauguration, and I was able to put the case for Australia to the Secretary of State Marco Rubio on his first day in office.

    The Deputy Prime Minister was Secretary Hegseth’s first international counterpart to meet with him following his confirmation.

    The Treasurer has made an early connection with his counterpart, US Secretary of the Treasury Scott Bessent.

    And our Trade and Tourism Minister has also been engaging with his counterparts.

    In those interactions we make the point that the US enjoys a two-to-one trade surplus with Australia and has since the Truman Presidency.

    We make the point that US exports to Australia face no tariffs.

    And that our trade and investment relationship is important for US industry and jobs. Half of Australia’s exports are inputs into US manufacturing and construction. And of course, we are a top 10 investor in the United States.

    And given the pool of funds under management in Australia’s superannuation sector that can only grow.

    Nevertheless, last week we saw that the second Trump administration has hardened its position in favour of tariffs as a centrepiece of its economic policy.

    And whereas the first Trump administration exempted 36 countries from steel tariffs and 32 countries from aluminium tariffs, this time not one single country has been exempted.

    Not Australia. Not Japan. Not anyone.

    And the degree of a country’s engagement has not changed the outcome.

    Indeed, the administration has been clear that the exemptions granted in its first term were a mistake.

    Our response to the Trump administration’s imposition of tariffs on Australia has been firm and it has been clear.

    As the Prime Minister has said, these measures are “entirely unjustified”.

    And “it is against the spirit of our two nations, enduring friendship and fundamentally at odds with the benefits our economic partnership has delivered over more than 70 years.”

    Steel and aluminium exports to the US represent 0.18 per cent of Australia’s total exports in 2023.

    We will continue to press the case for all Australian exporters, including steel and aluminium.

    We will continue to have advocate for the existing economy-wide access commitments under the Australia-United States Free Trade Agreement. They should be maintained.

    And we will also keep making the case for the many opportunities Australia has to offer.

    After the US announced their position, Peter Dutton said he would “do a deal” and “there’s no question about that”.

    Given not one leader of the 36 countries that got a deal last time got a deal this time, Australians are right to be incredulous about that claim.

    And they,re rightly concerned Peter Dutton would do a deal at any cost.

    Unlike Mr Dutton, we are not going to give away the farm – and we don,t have to.

    We will always put the interests of Australian industries and workers first.

    Remember, these tariffs do not necessarily mean that Americans won,t keep buying Australian products.

    And many nations want our exports. This state understands that possibly more than any part of Australia.

    We have a strong track record of supporting our exporters diversify their export markets, and regardless of what happens with US tariffs, that is a priority we will continue to pursue.

    One of the priorities I have brought to this job has been a focus on Southeast Asia, in part because of where I,m from originally, but in part because of my firm belief that ASEAN and the countries of Southeast Asia are critical to our next generation’s stability and prosperity.

    So just to our north, Indonesia stands as a major and growing power in our region and beyond.

    The world’s third largest democracy, projected to become the world’s fifth largest economy.

    So deepening our economic engagement with Indonesia is of enormous value to Australia, and part of our broader effort to diversify our economy, especially through Southeast Asia.

    Now we have our work cut out. When we came to government, Australian direct investment in Southeast Asia was lower than it was in 2014.

    Over this period, while international investment in the region had grown apace, Australia’s investment in it had gone backwards, both in relative and absolute terms.

    And by 2040, Southeast Asia is predicted to be the world’s fourth-largest economy after the United States, China and India.

    Australia’s trade and investment has simply not kept pace – and we need to turn this around.

    Australia has been central to the north Asian economic growth story, so we must be to the Southeast Asian economic growth story.

    That’s why we appointed Nicholas Moore AO as Australia’s Special Envoy to Southeast Asia and charged him with developing a Southeast Asia Economic Strategy to 2040.

    In the almost 18 months since its launch, we have made tangible progress.

    We have now implemented a number of initiatives responding to its recommendations, including new deal teams to identify and facilitate Australian investment in the region.

    New landing pads in Jakarta and Ho Chi Minh City, in addition to the existing hub in Singapore, to help our tech companies scale up.

    Business and investment missions, including three to Singapore, one of which was our largest ever outbound investment mission by value, representing a combined $2.5 trillion of assets under management.

    Improved visa access for businesspeople from the region and the establishment of the ASEAN-Australia Centre because we have to continue to build Southeast Asia literacy and enhance business and cultural ties.

    It’s no accident that Austrade had their best ever client results in Southeast Asia in 2024, with over $1 billion in commercial outcomes.

    We all need to play our part in diversification.

    Complacency, or business as usual, risks compromising our influence today and our prosperity tomorrow.

    Nobody today could claim they don,t understand the risk of putting too many eggs in one market.

    As you know, China’s growth has been a crucial driver of Australia’s prosperity and the world’s prosperity – and we know this has never been straightforward for business.

    Especially during the last term of government, when China’s doors were closed to many of our exports.

    Since the Albanese Government was elected you have seen a concerted effort to restore dialogue and stabilise the relationship with our largest trading partner.

    We pressed China to lift impediments on more than $20 billion of Australian exports – barley, wine, coal, timber logs, cotton, beef, hay and copper ores, concentrates, and lobsters.

    The final impediments on lobster were lifted in late December, and we have seen in just the first month of the crayfish trade resuming into China, sales have already reached $118 million.

    We know how important that is to Western Australia. In 2023-24, China received 56 per cent of exports from this state. And what we want is grow opportunities for our great exporters – both into China and elsewhere across our region.

    The China relationship will continue to face challenges.

    You see, the term stabilisation has never meant there would be no problems.

    It has always meant we should be able to engage directly with China in order to manage differences and problems that are inevitable – without these problems derailing our ability to talk to each other – as we saw in the past.

    And that is what we will keep doing – and it is what the Australian people expect of us, your government – to engage confidently, calmly and consistently, protecting our sovereignty and advancing our interests.

    We have seen in recent weeks that the same people who had no regard for the consequences for Australian exporters and jobs are at it again – trying to turn China into an election issue, with inflammatory language.

    This country, as you all know, built our prosperity in great part because we are a trading nation.

    A great trading nation has to grapple with a world where trade can be a vulnerability as well as an opportunity.

    And the whole country, all of us, government, business, the workforce – we have to manage these risks together.

    We can’t imagine the challenges away nor can we put other countries, interests ahead of ours.

    What we can do is recognise our challenges in the world are growing.

    That our interests are most at stake in our region.

    And that we must not just invest in our traditional relationships but also in diversified relationships.

    And if we do these things, we can be confident that together as Australians we can meet these challenges, and keep building a better future.

    MIL OSI News

  • MIL-Evening Report: Renewables are cheap. So why isn’t your power bill falling?

    Source: The Conversation (Au and NZ) – By Tony Wood, Program Director, Energy, Grattan Institute

    Steve Tritton/Shutterstock

    Power prices are set to go up again even though renewables now account for 40% of the electricity in Australia’s main grid – close to quadruple the clean power we had just 15 years ago. How can that be, given renewables are the cheapest form of newly built power generation?

    This is a fair question. As Australia heads for a federal election campaign likely to focus on the rising cost of living, many of us are wondering when, exactly, cheap renewables will bring cheap power.

    The simple answer is – not yet. While solar and wind farms produce power at remarkably low cost, they need to be built where it’s sunny or windy. Our existing transmission lines link gas and coal power stations to cities. Connecting renewables to the grid requires expensive new transmission lines, as well as storage for when the wind isn’t blowing or the sun isn’t shining.

    Notably, Victoria’s mooted price increase of 0.7% was much lower than other states, which would be as high as 8.9% in parts of New South Wales. This is due to Victoria’s influx of renewables – and good connections to other states. Because Victoria can draw cheap wind from South Australia, hydroelectricity from Tasmania or coal power from New South Wales through a good transmission line network, it has kept wholesale prices the lowest in the national energy market since 2020.

    While it was foolish for the Albanese government to promise more renewables would lower power bills by a specific amount, the path we are on is still the right one.

    That’s because most of our coal plants are near the end of their life. Breakdowns are more common and reliability is dropping. Building new coal plants would be expensive too. New gas would be pricier still. And the Coalition’s nuclear plan would be both very expensive and arrive sometime in the 2040s, far too late to help.

    Renewables are cheap, building a better grid is not

    The reason solar is so cheap and wind not too far behind is because there is no fuel. There’s no need to keep pipelines of gas flowing or trainloads of coal arriving to be burned.

    But sun and wind are intermittent. During clear sunny days, the National Energy Market can get so much solar that power prices actually turn negative. Similarly, long windy periods can drive down power prices. But when the sun goes down and the wind stops, we still need power.

    This is why grid planners want to be able to draw on renewable sources from a wide range of locations. If it’s not windy on land, there will always be wind at sea. To connect these new sources to the grid, though, requires another 10,000 kilometres of high voltage transmission lines to add to our existing 40,000 km. These are expensive and cost blowouts have become common. In some areas, strong objections from rural residents are adding years of delay and extra cost.

    So while the cost of generating power from renewables is very low, we have underestimated the cost of getting this power to markets as well as ensuring the power can be “firmed”. Firming is when electricity from variable renewable sources is turned into a commodity able to be turned on or off as needed and is generally done by storing power in pumped hydro schemes or in grid-scale batteries.

    In fact, the cost of transmission and firming is broadly offsetting the lower input costs from renewables.

    Transmission lines are essential – but building them is sometimes fraught.
    Naohisa goto/Shutterstock

    Does this mean the renewable path was wrong?

    At both federal and state levels, Labor ministers have made an error in claiming renewables would directly translate to lower power prices.

    But consider the counterpoint. Let’s say the Coalition gets in, rips up plans for offshore wind zones and puts the renewable transition on ice. What happens then?

    Our coal plants would continue to age, leading to more frequent breakdowns and unreliable power, especially during summer peak demand. Gas is so expensive as to be a last resort. Nuclear would be far in the future. What would be left? Quite likely, expensive retrofits of existing coal plants.

    If we stick to the path of the green energy transition, we should expect power price rises to moderate. With more interconnections and transmission lines, we can accommodate more clean power from more sources, reducing the chance of price spikes and adding vital resilience to the grid. If an extreme weather event takes out one transmission line, power can still flow from others.

    Storing electricity will be a game-changer

    Until now, storing electricity at scale for later use hasn’t been possible. That means grid operators have to constantly match supply and demand. To cope with peak demand, such as a heatwave over summer, we have very expensive gas peaking plants which sit idle nearly all the time.

    Solar has only made the challenge harder, as we get floods of solar at peak times and nothing in the evening when we use most of our power. Our coal plants do not deal well with being turned off and on to accommodate solar floods.

    The good news is, storage is solving most of these problems. Being able to keep hours or even days of power stored in batteries or in elevated reservoirs at hydroelectric plants gives authorities much more flexibility in how they match supply and demand.

    We will never see power “too cheap to meter”, as advocates once said of the nuclear industry. But over time, we should see price rises ease.

    For our leaders and energy authorities, this is a tricky time. They must ensure our large-scale transmission line interconnectors actually get built, juggle the flood of renewables, ensure storage comes online, manage the exit of coal plants and try not to affect power prices. Pretty straightforward.

    Tony Wood’s superannuation fund may have shares in companies positively or negatively affected by the issues covered in this article.

    ref. Renewables are cheap. So why isn’t your power bill falling? – https://theconversation.com/renewables-are-cheap-so-why-isnt-your-power-bill-falling-252391

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Americans can’t stop Aussie kickers on college football fields – so they’re trying in court

    Source: The Conversation (Au and NZ) – By Adam Cohen, Senior Lecturer, University of Technology Sydney

    The National Rugby League has recently made headlines for trying to crack the American sporting landscape by hosting matches in Las Vegas.

    But the NRL’s great rival, the Australian Football League (AFL), has been the Australian export influencing American sport in a much greater fashion in the 21st century.

    While casual American football fans might not put much thought into the kicking aspect of the sport, increasingly, Australian rules players have been identified for their unique skills to fulfil the role of punter.

    A punter is a specialist kicker, who punts the ball downfield with the aim of limiting the opponent’s field position.

    This has led to an influx of Australians in United States college football teams, with some making it to the National Football League (NFL).

    Currently, there are five Australian-raised punters in the NFL — Mitch Wishnowsky, Michael Dickson, Tory Taylor, Cameron Johnston and Matt Hayball.

    Punting pushback

    It has never been more lucrative for athletes to play US college sport after a recent policy change allowing these athletes to be paid for name-image-likeness (NIL) deals.

    NIL refers to a person’s legal right to control how their image is used, including commercially. Until recently, college athletes were not allowed to profit from their fame but the rules have been relaxed.

    This has increased scrutiny within the US about who should be given those opportunities.

    Recent deterrents aimed to solve this dilemma include a class-action lawsuit aiming to limit Australian imports.

    The class action is based on six legal claims, including age discrimination, anti-trust and unfair trade practices laws, as well as violation of the US Constitution’s 14th Amendment, which states “no state shall deny any person within its jurisdiction the equal protection of the laws”.

    One US media investigation allegedly found:

    • transcripts that had been submitted to American universities that were doctored to improve athlete grades compared to their actual grades

    • Prokick (the main Australian company bringing athletes into the US system) misleading college football coaches by overstating athletes’ remaining years of eligibility, and omitting information about whether prospective punters previously attended university in Australia.

    Also, specific US states are considering a maximum number of international athletes on scholarships allowed at each school.

    Prokick founder, former AFL player Nathan Chapman, denied the allegations raised in the class action and US media reports.

    Many US college football teams have recruited Australian punters.

    Why Aussies are so appealing

    In the US, punting is a niche skill that gains very little attention. However, many Australians grow up kicking a ball instinctively and learning a variety of techniques.

    These skills have translated into punting, where hang time (how long the ball stays in the air), placement and spin are valuable.

    Former NFL punter and popular media personality Pat McAfee has often celebrated the AFL and touted the influence of the sport on punting.

    What began as just a handful of former AFL players leaving Australia to pursue college football and NFL opportunities has turned into a pipeline where Australians are beginning to dominate the position.

    A New York Times article in 2023 stated 61 out of 133 Division 1 (top tier) football programs had an Australian punter on their roster.

    In seven of the past 11 seasons, an Australian won the Ray Guy Award as the top punter in Division 1 football.

    Of the Australians who have gone on to play in the NFL, the Seattle Seahawks’ Dickson – who recently signed a four-year, $US14.5 million ($A22.9 million) contract – is recognised as one of the best in the league.

    Dickson has gone viral multiple times, which is extremely rare for a punter, for plays including a drop-kick and a one-handed scoop and kick.

    Punting pathways

    To play college football, Australians must deal with National Collegiate Athletic Association (NCAA) eligibility requirements. These include academic standards and amateur status.

    Many enter the system as mature-aged athletes, often in their early 20s (compared to 18-19 year old Americans competing for the same scholarships and roster spots), which gives them a physical and mental advantage over younger recruits.

    The main contributor to this is Prokick Australia.

    Prokick identifies and trains athletes with the potential to transition into American football, coaching them in punting mechanics, the rules of the game and the university recruiting process.

    Prokick has created established partnerships with coaching staff across the US, giving their clients an inside track on scholarship opportunities.

    Their website touts success stories, which include representing 270 athletes getting full scholarships with an estimated value of more than $A50 million.

    This success has led to alternative options, such as Kohl’s and Under Armour offering showcases, where punters can register and perform in front of college coaches.

    Beyond being good at kicking a football, a key step in being allowed to play for an US university involves submitting immigration materials to the US State Department. This includes academic documentation.

    This has led to several attempts to push back on Prokick’s influence in this space, including the class action.

    Where to from here?

    With college football and NFL teams placing increasing value on field position, the demand for Aussie punters is unlikely to slow down.

    As long as pathways like Prokick remain viable, Australians should continue to dominate one of the most specialist roles in American football, unless sweeping changes and restrictions are put in place.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Americans can’t stop Aussie kickers on college football fields – so they’re trying in court – https://theconversation.com/americans-cant-stop-aussie-kickers-on-college-football-fields-so-theyre-trying-in-court-251916

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Minns Government seeks energy bill relief for cyclone region

    Source: New South Wales Government 2

    Headline: Minns Government seeks energy bill relief for cyclone region

    Published: 18 March 2025

    Released by: Minister for Energy and Climate Change, Minister for the North Coast, Minister for Small Business


    The Minns Labor Government has written to energy companies asking them to defer electricity bills and waive a fee for NSW households and businesses hit by ex-Tropical Cyclone Alfred, to further ease the pressure on those recovering from the natural disaster.

    Residents and business owners in northern NSW have experienced substantial disruptions to their power supply due to ex-Tropical Cyclone Alfred. It delivered heavy rain and severe winds to large areas of Northern NSW, causing extensive damage to the area’s electricity distribution network.

    A total of 84,000 homes and businesses experienced power outages across various communities from Tweed Heads to Grafton, and west to Armidale. Some lost power multiple times.

    Essential Energy will waive the daily access charge for customers for the period they were without power.

    While energy retailers have not played a role in relation to the power disruptions, Minister for Energy Penny Sharpe has written to 22 companies requesting their cooperation in supporting customers who live in local government areas included in the natural disaster declaration. The Minister has asked them to:

    • waive the daily power supply charge for customers for the period they were not supplied electricity (by passing on the waiver being provided to retailers by Essential Energy)
    • defer any electricity bills that are due to be sent to customers for 14 days
    • defer any disconnections or repayment requirements for 14 days for affected customers in debt or with any amount owing on their account
    • provide additional information about payment plan options and NSW Government financial support if customers find they are unable to pay their bill as a result of the cyclone impacts.

    The NSW Government along with the Australian Government is working together to provide support to the affected area. A personal hardship grant with payments of $180 for individuals and up to $900 per family is available through Service NSW for essential costs such as food, clothing, medicine and emergency accommodation. To be eligible, individuals must have been subject to an evacuation order or have experienced a power outage of more than 48 hours.

    Customers whose ability to repay their energy bills has been impacted by Ex-Tropical Cyclone Alfred can also apply for NSW Government Energy Accounts Payment Assistance (EAPA) support to help pay their energy bills. EAPA helps people experiencing difficulty paying their electricity and/or gas bill due to a short-term financial hardship, crisis or emergency to stay connected to essential services. EAPA can only be applied to current, unpaid energy bills.

    Minister for Energy, Penny Sharpe said:

    “It is important we provide as much support as possible to households and business owners who are recovering from ex-Tropical Cyclone Alfred.

    “I have written to energy retailers asking them to join Essential Energy in providing relief to customers in the natural disaster zone, and thank them in advance for any assistance they can offer.”

    Minister for Recovery, Small Business and the North Coast, Janelle Saffin said:

    “Every bit of support counts for families, households and businesses doing it tough in the wake of this natural disaster.

    “Thank you for your consideration of this request during this difficult time for the residents and businesses of the Northern Rivers and North Coast.”

    Further information:

    • Essential Energy is one of three distribution network operators in NSW. Essential Energy, Ausgrid and Endeavour Energy are responsible for the distribution lines in a specified region:
      • Essential Energy – Riverina, South Eastern region, Northern NSW and Central Tablelands
      • Ausgrid – Sydney’s north, Central Coast and Newcastle
      • Endeavour Energy – Blue Mountains, Western Sydney, Illawarra and South Coast
    • Energy retailers such as Origin Energy, AGL, Red Energy and EnergyAustralia buy electricity from the market pool and contract with generators to manage prices.
      • Retailers then sell electricity to households and businesses. Most customers only ever interact with their retailer, which sends them their quarterly bill.
      • There are 22 energy retailers with customers in the region affected by the natural disaster from 3 March 2025.
    • To assist customer recovery from the impacts of ex-cyclone Alfred and the extended periods of time without power, Essential Energy is offering financial and non-financial support. For more information visit the Essential Energy website.

    MIL OSI News

  • MIL-Evening Report: The next round in the US trade war has the potential to be more damaging for Australia

    Source: The Conversation (Au and NZ) – By Felicity Deane, Professor of Trade Law, Taxation and Climate Change, Queensland University of Technology

    Slladkaya/Shutterstock

    On April 2 the United States is set to implement a new wave of tariffs under its Fair and Reciprocal Trade Plan. Details of the plan that will impact all US trading partners are not yet known, but the US administration has suggested these tariffs will target any rules it considers “unfair”.

    This means the April 2 tariffs may take aim at a range of Australian domestic policies, such as biosecurity rules that govern food imports, and the government’s Pharmaceutical Benefits Scheme (PBS).

    The size of the hit is uncertain. One report indicates a relatively modest tariff between 2% and 8% is being considered, below the 25% rate imposed on steel and aluminium on March 12. But it will apply to a much larger set of exports.




    Read more:
    With Australian steel and aluminium set to incur US tariffs, global uncertainty will be our next challenge


    Australia and the US have been allies for over a century. The two nations celebrated a “century of mateship” in 2018. More formally, the two countries have a current free trade agreement, Australia-United States Free Trade Agreement (AUSFTA).

    The agreement was negotiated in good faith, and entered into force on January 1, 2005. It called for the elimination of tariffs between the two nations over time, and until now both parties have upheld their respective bargains. The so-called “reciprocal” tariff plan would breach that agreement.

    What sectors are likely to be targeted?

    The Trump reference to non-tariff barriers raises two main concerns for Australian products: meat and pharmaceuticals.

    These exports to the US are worth about A$3.3 billion and $1.6 billion a year respectively. That’s about five times the total value of our steel and aluminium exports to the US.

    In Australia, domestic beef products are subject to strict traceability rules. Similarly, imported beef has rigid biosecurity requirements as it is classified as a high-risk food.

    This is because of the potential risk of mad cow disease (Bovine Spongiform Encephalopathy). This disease was detected in the US in 2002 and triggered an Australian ban on US beef products.

    The ban was partially lifted in 2018, but some restrictions remain, which the US says are a barrier to trade. This was also raised by the Biden administration in a 2024 report on trade barriers.

    The US cannot force Australia to change its laws on the basis of tariffs – but they can make products coming from Australian suppliers more expensive and therefore restrict market access to the US, which many Australian producers rely on.

    A tariff on Australian-sourced beef products would also push up prices for American consumers. Trade Minister Don Farrell has warned the price of a McDonald’s burger may increase.

    If tariffs are placed on Australian beef, the government has warned that McDonalds burgers in the US will become more expensive.
    Shutterstock

    Medicines are also in the line of fire

    Turning to pharmaceuticals, the Australian PBS has been a sticking point between US and Australian trade negotiators for the past 20 years.  

    The PBS, which has been in place since 1948, ensures Australians have affordable access to essential medicines. It formed part of discussions during the free-trade negotiations and has been raised as a potential barrier to trade.

    The US argues innovation and unfettered market access for American drug companies should be prioritised over Australia’s reference pricing arrangements. Reference pricing means medicines with similar outcomes should have similar pricing.

    The reason the US has a problem with this scheme is because some of their companies are not able to charge higher prices for medicines.

    Although these are the categories of most concern, there is no assurance the “Fair and Reciprocal Plan” will be limited to beef and pharmaceuticals.

    For instance, there are no barriers imposed on the import of wine into Australia. But there has been some concern tariffs could be introduced regardless.

    Wine is often the target of trade wars and President Donald Trump has threatened the European Union with a 200% tariff on all wine and spirits entering the US. As Australian wine makers have only recently recovered from Chinese and Canadian tariffs, any US tariffs would deal a harsh blow to the industry.

    An old clip of the former Republican President Ronald Reagan went viral this week, highlighting his quite different view:

    Is there any avenue for appeal?

    There is one thing that is clear about these tariffs. Their imposition will be in violation of both the WTO rules and the free-trade agreement.

    Both have provisions to settle disputes and Australia does have options for filing complaints. However, the rule of law and existing norms of the international order do not appear to be persuasive to the Trump administration.

    Despite this, it is important to note the US cannot force Australia to change its longstanding laws that protect consumers and ensure accessibility to medicines. This remains the choice of the Australian government.

    If the tariffs are introduced in the range of 2% to 8%, there may not be a significant direct economic impact. But they will have other consequences. Trade negotiations, and international agreements, are largely based on goodwill. These acts of the US will erode much of what has been built up over the past century.

    The downturn we are seeing in financial markets has so far been dismissed by the Trump administration as necessary. But if the correction turns into a crash, it may give President Trump pause. Given his lack of interest in negotiating, this may be the only thing that could change his mind.

    Felicity Deane 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. The next round in the US trade war has the potential to be more damaging for Australia – https://theconversation.com/the-next-round-in-the-us-trade-war-has-the-potential-to-be-more-damaging-for-australia-252377

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: NSFW AI Role Play Chatbot Debuts at JuicyChat.AI

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) — JuicyChat.AI announced today the launch of its innovative NSFW AI Role Play Chatbot, designed to enhance interactive digital conversations. The new feature offers users a dynamic NSFW AI role play experience powered by advanced artificial intelligence.

    Cutting-Edge Technology

    The NSFW AI Role Play Chatbot employs state-of-the-art machine learning algorithms and natural language processing to generate context-aware responses. Its intuitive design allows users to engage in creative, scenario-based interactions that adapt to individual conversation flows. Regular updates and refinements ensure the chatbot remains at the forefront of interactive technology.

    Enhanced User Engagement

    JuicyChat.AI’s new offering is built to deliver an immersive experience without explicit content. Key benefits include:

    Dynamic Role Play: Users can enjoy personalized role play scenarios with responsive and evolving dialogue.

    User-Friendly Interface: The platform’s streamlined design makes it simple for users to initiate and navigate conversations.

    Consistent Performance: Advanced technology ensures reliable and engaging interactions during each chat session.

    Availability and Future Developments

    The NSFW AI Role Play Chatbot is now available on JuicyChat.AI. The platform remains committed to pushing the boundaries of interactive AI technology, with plans for continuous enhancements based on user feedback and emerging trends.

    For more information or to experience this innovative NSFW AI chatbot, visit JuicyChat.AI.

    JuicyChat.AI’s latest feature marks a significant step forward in digital communication, offering a fresh approach to interactive role play through advanced NSFW AI chat capabilities.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/709833f9-90dd-4371-a952-71ee8a16ad38

    The MIL Network

  • MIL-Evening Report: After a century of Monday to Friday, could the 4-day week finally be coming to Australia?

    Source: The Conversation (Au and NZ) – By John L. Hopkins, Associate Professor of Management, Swinburne University of Technology

    The reality of shorter working hours could be one step closer for many Australians, pending the outcome of the federal election.

    The Greens, who could control crucial cross bench votes in a hung parliament, have announced plans for a four-day working week, with no loss of pay. They say the policy would alleviate stress and burn out, and increase women’s participation in the workforce.

    Earning the same money for fewer hours would appeal to most workers. But is it too good to be true? Could it really be rolled out cost free to all workplaces, especially to “client facing” companies and service providers?

    Or does research suggest the Greens could be onto something?

    The Greens’ plan

    The Greens’ policy would involve a new National Institute for the Four Day Work Week and a test case through the Fair Work Commission.

    A series of national trials would be set up in a number of different industries, whereby workers would work 80% of their normal hours, while maintaining 100% of their pay.

    According to Greens Senator Barbara Pocock, it’s a win-win for everyone:

    It can increase productivity, reduce absenteeism, improve recruitment and retention and give employees more time to manage their home life. This change will allow workers to create a working week that works for them.

    The 100:80:100 model

    The four-day work week being proposed in this instance is commonly regarded as the 100:80:100 model.

    It delivers 100% of the pay, for 80% of the hours, in return for maintaining 100% of productivity.

    This is unlike other forms of shorter working weeks, which compress five days’ worth of work into four longer days. This obviously disadvantages some employees.

    Recent research conducted by Swinburne University of Technology involved interviews with ten Australian firms that have already adopted the 100:80:100 model.

    They were a mixture of small and medium sized private sector businesses, including management consulting firms, a shipping and logistics company, and recruitment and marketing agencies.

    The research underlined the potential for a range of positive outcomes for both employers and employees.

    Workers reported having better work-life balance, more time to complete “life administration” tasks, and more time to invest in hobbies, exercise, wellness and self-care. Bosses cited productivity gains, reduced sick days, and significant improvements in recruitment and retention rates.

    However, the 100:80:100 model is viewed with scepticism in some quarters. There is still doubt that productivity and output would be maintained, or in some cases improved, when workers are working one day fewer per week.

    Also, there could be costs associated with the implementation of this work model for front-line roles, such as retail, schools, hospitals and nursing homes. Additional workers may need to be hired, at extra expense, to cover the hours dropped by the existing workforce.

    100 years of working 5 days a week

    The year 2026 will mark the 100th anniversary of the five-day work week.

    It was car maker Henry Ford who reduced the working week in the United States from six days to five. Other sectors and countries followed suit. This was at a time when the average life expectancy of Australian workers was just 55 and households typically only had one bread-winner.

    Despite the time saved by the many technological breakthroughs in the past 100 years – from the photocopier, desktop computer and fax machine, to the internet, mobile phones and AI – the average Australian is now working longer hours in paid and unpaid labour than ever before.

    The Greens point out Australian society is changing. More women and carers are either in the workforce or would be encouraged into the workforce by more flexible arrangements:

    yet we are constrained by archaic labour laws that see the fruits of our efforts swallowed up in profits for bosses and shareholders.

    The role of generative AI technologies in the workplace may also deliver benefits to workers. Separate Swinburne research has revealed an increasing expectation among workers that they will receive a share in the time saved by future technologies in the form of improved work-life balance and wellbeing gains.

    Time to enter the 21st century

    Earlier this year, 200 UK companies signed up to the 100:80:100 model, as part of a campaign to “reinvent Britain’s working week”. Large scale trials are also underway in Canada and several European countries.

    The global interest in a shorter working week is not surprising, and has likely been fuelled by the COVID pandemic, which has caused workers and employers to re-imagine their working lives.

    If the Greens are in a position to leverage any balance of power after the coming election, it could be Australia’s turn to recognise the conventional five-day working week is no longer fit for purpose.

    John L. Hopkins 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. After a century of Monday to Friday, could the 4-day week finally be coming to Australia? – https://theconversation.com/after-a-century-of-monday-to-friday-could-the-4-day-week-finally-be-coming-to-australia-252379

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Volkswagen, FAW to launch 11 new models in China from 2026

    Source: China State Council Information Office

    Volkswagen Group and China’s First Automobile Works (FAW) have signed a strategic cooperation agreement to introduce 11 new models in China from 2026, including ten new energy vehicles (NEVs), the German automaker said on Monday.

    According to a press release from Volkswagen, the new models include six battery electric vehicles (BEVs), two plug-in hybrids, and two range-extender electric vehicles. The move is part of the company’s “In China, for China” strategy to strengthen its position in the world’s largest auto market.

    Volkswagen said the Jetta brand will also launch its first electric model by 2026, targeting China’s growing entry-level BEV segment. The company aims to roll out about 40 new models in China between 2025 and 2027, with over half being electrified.

    Ralf Brandstaetter, board member of Volkswagen AG for China, highlighted that the partnership with FAW remains a “strong pillar” of its China strategy and that the company will leverage local research and development capabilities to enhance its products with intelligent connected vehicle technology.

    Chen Bin, deputy general manager of FAW Group and General Manager of FAW-Volkswagen, said the agreement marks a “significant milestone” in FAW-Volkswagen’s pursuit of high-quality development. “The global automotive industry is facing both opportunities and challenges. FAW and Volkswagen Group will continue to leverage over 30 years of partnership to drive strategic synergy and innovation,” he said.

    The FAW-Volkswagen joint venture plans to introduce BEVs on Volkswagen’s locally developed Compact Main Platform and upgrade models on the global MEB platform with advanced software features. Volkswagen’s China Technology Company and software subsidiary CARIAD China will play a key role in development, aiming to cut time-to-market by 30 percent and reduce costs by 40 percent.

    Additionally, FAW-Volkswagen will unveil a concept car at the upcoming Shanghai Auto Show, showcasing the new design direction of Volkswagen-brand vehicles in China. 

    MIL OSI China News

  • MIL-OSI Australia: Minister Rishworth doorstop interview at the Derwent Valley Community House in New Norfolk, Tasmania

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: Investment in Australia’s neighbourhood houses and community centres; ABC Four Corners child care investigation.

    AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: I’m so pleased to be here at Derwent Valley Community House to make a really important announcement that the Commonwealth Government will partner with neighbourhood houses and community centres across Australia to deliver funding for their priorities. This announcement will be close to a $1 million and deliver small grants to up to 50 projects delivered by neighbourhood houses and community centres through the Australian Neighbourhood Houses and Centres Association. This is a really good partnership. We have been investing through our Strong and Resilient Communities grants in neighbourhood houses directly. But this is the first time that we’ll partner with the national association to deliver small grants across the country. Of course, here in Tasmania, there is a very strong network of neighbourhood houses and community centres, and they’ve demonstrated that they do a lot with a small amount of money. So, I’m really pleased to be announcing this partnership today, and happy to take any questions.

    JOURNALIST: So, what’s the value of these individual grants?

    AMANDA RISHWORTH: Individual grants will be up to $15,000 to do a variety of things under the SARC (Strong and Resilient Communities) grant guidelines. It’s really about building community connections, particularly for those people that may be isolated, disengaged, disconnected. There’s often a focus on youth or newly arrived migrants. But ultimately, the types of ideas will come from the centres themselves, and they’ll be able to put an application into the association to get that funding.

    JOURNALIST: You spoke about a lack of volunteers before over the past few years. Can you go into a little bit of that?

    AMANDA RISHWORTH: COVID, in particular, disrupted volunteering across the country. We have been working hard with Volunteering Australia to build that back up. So we have put in place a National Strategy for Volunteering, along with an action plan. I’ve also been working with the peak associations in all states and territories to make sure that we’re providing funding for them to look at groups that may have been excluded from volunteering in the past. And we’re actually also running a new national campaign encouraging young people to look at volunteering. It’s called Hanging Out to Help Out. So these are really important elements to encourage volunteering. But I would say that we are seeing some green shoots of this investment. We are seeing, anecdotally, volunteers coming back and wanting to play a role, and speaking with the volunteers at this neighbourhood centre, hearing that they want to give back to the community is really heartening. And we’ve also heard, of course, the connections that are made through volunteering and being part of a community.

    JOURNALIST: Of those 50 community houses that you mentioned before. Are they predetermined or are applications open?

    AMANDA RISHWORTH: We are providing the funding to the Australian Neighbourhood Houses and Centres Association to take applications and deliver that money. They are best placed and have the experience to do this. They have run a similar program with philanthropic money so they know how to do this. So we’re partnering with the national association to administer those ones.

    JOURNALIST: And is there a state by state allocation or is it first in best dressed?

    KEIR PATERSON, CEO OF NEIGHBOURHOOD HOUSES VICTORIA: We will assess all the applications, and they will be granted on the merit of the application. But we also look at the geographical spread to make sure it’s equitable state by state.

    JOURNALIST: Do you know how many are based in Tasmania compared to other states?

    MICHELLE EWINGTON, PRESIDENT OF NEIGHBOURHOOD HOUSES TASMANIA: So here in Tasmania, we have 35 neighbourhood houses that are funded through a variety of means. We’re very lucky to have state government funding and a commitment to such valuable and vital services.

    JOURNALIST: Is there a part of Tasmania that really takes up a lot of those 35 services, or how are they spread out?

    MICHELLE EWINGTON: They are dispersed right around the state. Each of them have their own diverse communities that they work with. They listen to the needs of communities. They fill the gaps for vital services that are required across the state, and each of those will have a great interest in applying for specific project funding as a result of this grant.

    JOURNALIST: You really rely on this funding. This 15K – is it enough?

    MICHELLE EWINGTON: Funding is essential to keep our services alive. We have such loyal staff in these organisations that stretch themselves immensely to actually deliver on the much-needed services for each community. So whilst these grants are going to be very useful and of interest, the continued funding for such important services, having been here today listening to the stories of this great house itself, the experiences of the volunteers here, the more funding that can be provided to houses right across the country, but particularly here in Tasmania, it’s essential.

    JOURNALIST: What types of programs are being offered?

    MICHELLE EWINGTON: Across the state there’s a diverse range of programs, from supporting people with learning to drive and mentor programs to offering social inclusion activities. Here we have a program called Happy Hookers Crochet Club. We offer cooking classes across the state. We bring services in so that they can meet the community where the community is. Community connectors is an important role that actually allows those that are vulnerable, those who may not have the skills, those who might not have the confidence, to approach the relevant services and get the referrals they need.

    JOURNALIST: So for people coming through the door, what are some of the challenges that they’re facing?

    MICHELLE EWINGTON: The challenges that communities face again are complex. The cost of living – we see that every day. Things like our food relief programs, the increased need for those. When we think about isolation and loneliness and the impact on communities, again, another important need addressed by our houses. There are a number of other skill building programs which might not be accessible to people through other means, and so neighbourhood houses fill a vital space in our communities and in amongst government services.

    JOURNALIST: Have you seen a change in the community needs post COVID?

    MICHELLE EWINGTON: I think the change is pretty evident in in terms of the common themes that have come through – cost of living, impacts on mental health, loneliness, concerns about health access, housing. All of the things that we know are big ticket items. At a grassroots level, the neighborhood houses are the places where we hear this, where we learn this, and where we support this.

    JOURNALIST: There are calls for an urgent inquiry into the childcare sector, following a Four Corners expose into abuse, sexual misconduct and neglect. Would you support an inquiry, and in what form?

    AMANDA RISHWORTH: First, I would say that our Government has taken the safety and quality of early learning and care incredibly seriously. In fact, it was Labor that introduced the National Quality Framework, which has done really important work in ensuring that we’re lifting the quality and safety of our early learning sector. But in addition, Minister Clare and Minister Aly commissioned an important report around child safety requirements under the National Quality Framework, and all Education Ministers have agreed to implement those recommendations. So the work really is working across the board with all states and territories to implement these recommendations. I would say that the majority of early childhood education settings and the workers that work in there do the right thing. For those that are not doing the right thing, there needs to be swift action.

    JOURNALIST: And do you think there is swift action at the moment?

    AMANDA RISHWORTH: Well as I said, predominantly the regulatory enforcement does come down to states and territories. However, as I said, Minister Clare and Minister Aly have worked and commissioned a review into child safety. There are now recommendations that all Education Ministers have agreed to. It’s important that those recommendations are implemented.

    JOURNALIST: The sector’s propped up by $14 billion in Federal funding, and there have been increased incidents and breaches in every state. What are you doing to prevent money for educators’ pay rises just going to the profits of centres?

    AMANDA RISHWORTH: Well, let’s be really clear if, if educators and centres sign up for the pay increases, they have to deliver those through pay increases. The program that involves funding educators’ wages must be given to educators. That’s first and foremost. Secondly, we are driving improvement in this sector. It was neglected under the previous Government, who, in fact, opposed the introduction of the National Quality Framework. So it is important that we continue to work with our state and territory colleagues who are responsible for implementing it, but I want to see, importantly, action taken where we see quality improving and safety being lifted.

    JOURNALIST: Given the systemic failures and serious breaches in childcare uncovered by Four Corners, does the Federal Government need to take over regulation to ensure children’s safety?

    AMANDA RISHWORTH: Well, we think that there is an important role to be played by both state and territory governments and the Commonwealth. It is a joint responsibility around the National Quality Framework. We have been working hard, as I said, through the Education Ministers, to do a review through the National Quality Framework to ensure that child safety is reviewed, and it’s a responsibility for states and territories, along with the Commonwealth, to deliver this.

    JOURNALIST: I guess, circling back to that first point, on calls for inquiry. Should there be one? Have you seen the reports from Monday on Four Corners?

    AMANDA RISHWORTH: Of course, child safety has to be at the forefront at all times. And as I said, this has been something that Minister Aly and Minister Clare have had as a real focus. That’s why they commissioned the review. That’s why they’ve taken the recommendations to the Education Ministers, and that’s why they are focused on implementation. We need to ensure that the implementation of these recommendations are made. That’s critically important, and we’ll keep working with states and territories to ensure that happens.

    JOURNALIST: But no fresh inquiry?

    AMANDA RISHWORTH: There was a review done in 2003 after a decade of neglect by the previous Government. There are recommendations made. It is now down to implementing them.

    MIL OSI News

  • MIL-Evening Report: Here’s what’s different about Slinda, the single-hormone contraceptive just added to the PBS

    Source: The Conversation (Au and NZ) – By Nial Wheate, Professor, School of Natural Sciences, Macquarie University

    areeya_ann/Shutterstock

    From May 1, the oral contraceptive Slinda (drospirerone) will be listed on the Pharmaceutical Benefits Scheme (PBS). This means the price will drop for the more than 100,000 Australian women who currently use it – from around $A320 a year to around $94.

    It’s the third contraceptive pill the federal government has added to the PBS this year, after Yaz and Yasmine. But these two are combined oral contraceptives – meaning they contain both the hormones oestrogen and progestogen – whereas Slinda is progestogen-only.

    So, Slinda is a little bit different – here’s how it works and what it will cost.

    What is Slinda and how does it work?

    Oral contraceptive pills contain active ingredients based on the female sex hormones oestrogen and progesterone to prevent pregnancy.

    Contraceptive pills with both hormones are known as combined-contraceptive pills. Progesterone only pills are often referred to as mini-pills.

    The active ingredient in Slinda is a progestogen, which is a synthetic derivative of progesterone, which makes the medication a mini-pill.

    Slinda works by stopping ovulation (the ovary doesn’t release an egg) and making the mucus in the cervix thicker so sperm cannot get into the uterus from the vagina.

    Both combined contraceptive pills and mini pills effectively prevent pregnancy, but their suitability varies for different women. Mini-pills, including Slinda, can be 99% effective if used perfectly – but with typical day-to-day use, they provide only around 93% protection.

    Who will find Slinda useful?

    Slinda may be a particularly beneficial alternative for people who can’t use contraceptives containing oestrogen.

    This may include women who are older, overweight, or prone to migraines. This is because oestrogen is known to increase the risk of blood clots which lead to deep vein thrombosis – already a higher risk for older and overweight women.

    Similarly, combined pills containing oestrogen aren’t appropriate for those who’ve had a baby in the last 21 days or are breastfeeding. Lower levels of oestrogen are needed in a woman’s body post-birth as it stimulates prolactin, the hormone responsible for milk production. Taking an oestrogen-based pill can potentially interfere with that.

    Slinda can be taken at any time after childbirth, including while breastfeeding, and generally remains a safer option for people with a history of blood clots or migraines.

    Slinda also has advantages over other, older generations of progestogen-based contraceptive pills. Mini-pills such as Microlut and Noriday have no pill-free days, whichs means if a woman misses taking the pill by even a few hours it can increase her chance of becoming pregnant.

    The pill-free window for Slinda is 24 hours. This means if you are less than 24 hours late it’s considered a late pill, not a missed pill. If you take the late pill as soon as you remember, and then the next pill at the normal time, you should have effective protection from unwanted pregnancy.

    Slinda has a 24-hour ‘missed pill’ window.
    SeventyFour/Shutterstock

    What are the risks or potential side effects?

    The potential side effects for Slinda are similar to other contraceptive pills. Women may find that their period may stop altogether, or they may experience bleeding irregularities or spotting, as well as breast tenderness.

    It is not currently recommended for those with breast cancer, unexplained vaginal bleeding, or severe liver disease, in line with recommendations for all mini-pills.

    The pill may also not work effectively if it’s not taken correctly every day, or if it is taken with other drugs, such as the anti-viral ritonavir and anti-seizure medication phenytoin.

    If a woman is suffering from vomiting or severe diarrhoea, Slinda may not be effective and she should use back-up contraception such as condoms.

    There are other progesterone-only contraceptive options available on the PBS, such as levonorgestrel pills and implants, including the intrauterine devices, Mirena and Kyleena.

    Why was Slinda added to the PBS?

    Slinda has been available in Australia since at least 2004, but not at a subsidised price.

    In November 2024, the Pharmaceutical Benefits Advisory Committee recommended Slinda’s listing on the PBS. The committee cited several reasons, including advice from doctors, the need to provide women with more contraceptive options and Slinda’s longer pill-free window.

    At a stakeholder meeting in October 2024, doctors stressed the need for more choice for women, when choosing a pill.

    They highlighted women starting an oral contraceptive pill for the first time will often first use PBS-subsidised medications, even though a non-PBS product may be more suitable for them. Slinda’s listing makes it a more accessible first choice for women.

    As Slinda is a prescription-only medication, if you wish to change pills or start on the drug you will need to consult your doctor. If you do change, from May 1 and based on similar PBS medications, you can expect to pay around $31 for a four-month supply.

    Nial Wheate in the past has received funding from the ACT Cancer Council, Tenovus Scotland, Medical Research Scotland, Scottish Crucible, and the Scottish Universities Life Sciences Alliance. He is a fellow of the Royal Australian Chemical Institute. Nial is the chief scientific officer of Vaihea Skincare LLC, a director of SetDose Pty Ltd (a medical device company) and was previously a Standards Australia panel member for sunscreen agents. Nial regularly consults to industry on issues to do with medicine risk assessments, manufacturing, design, and testing.

    Jasmine Lee and Shoohb Alassadi do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Here’s what’s different about Slinda, the single-hormone contraceptive just added to the PBS – https://theconversation.com/heres-whats-different-about-slinda-the-single-hormone-contraceptive-just-added-to-the-pbs-252385

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: ATO releases new small business benchmarks for 100 industries

    Source: Australian Department of Revenue

    The Australian Taxation Office (ATO) has released a new set of updated financial benchmarks to help small business owners take the pulse of their business.

    Updated annually, the ATO’s benchmarks act as a health check, allowing small business owners to compare their performance including average expenses against other businesses in the same industry.

    Quotes attributable to ATO Assistant Commissioner Tony Goding:

    ‘The benchmarks are a valuable tool for small businesses wanting to stay in good financial health.’

    ‘Think of our benchmarks like a routine test you take with your GP each year. These can help small businesses diagnose their strengths or spot the early warning signs.’

    ‘Whether you’re running a pizza shop, pet store or a plumbing business, the benchmarks can help you see how your business stacks up.’

    ‘If your numbers are outside of the benchmark range compared to others in your industry it may be time for a closer look at your business plan.’

    ‘Businesses that remain within industry benchmarks are generally less likely to attract the ATO’s attention.’

    ‘While we never use the benchmarks in isolation, small businesses who fall outside the ATO’s benchmarks are more likely to trigger a closer examination from us to identify if they are making mistakes or deliberately doing the wrong thing.’

    The ATO takes non-compliance with tax seriously. Small businesses avoiding their tax obligations are participating in the shadow economy which puts pressure on Australians who are doing the right thing.

    Deliberate shadow economy behaviours contribute nearly 60% of the gross small business income tax gap or around $11.2 billion per annum in missing tax. Approximately $8.9 billion of this is associated with under reporting of income and over claiming of deductions.

    ‘The benchmarks are just one of the tools we use to tackle the shadow economy, along with community tip-offs and data matching.’

    ‘It’s all about levelling the playing field for honest businesses who are being undercut by their dishonest competitors that aren’t paying the tax they’re supposed to,’ Mr Goding added.

    The benchmarks cover 100 industries and over 2 million small businesses around the country. The industries include:

    • Accommodation and food
    • Building and construction trade services
    • Education, training, recreation and support services
    • Health care and personal services
    • Manufacturing
    • Other services
    • Professional, scientific and technical services
    • Retail trade
    • Transport, postal and warehousing.

    Small business owners who need help understanding how to improve their business performance can consult a business adviser or registered tax professional. The ATO’s online learning platform Essentials to strengthen your small businessExternal Link can support small business owners to prepare for these conversations, as well as further understand their tax and super obligations.

    The benchmarks are accessible on the ATO website and via the ATO app business performance check tool. The key benchmark ratios can also be downloaded from data.gov.au.

    Example

    The below example shows a small business using the ATO benchmarks to compare its performance to similar businesses in the same industry.

    Anna’s pizza shop

    Anna operates a pizza shop as a sole trader. Anna wants to know how her business compares to her competitors and how she can improve her business.

    Anna searches online for ‘pizza shop benchmarks’ and finds the ATO small business benchmarks. She follows the instructions to download the ATO app. Then, she goes to the business performance check tool.

    Anna enters her details into the business performance check tool. She learns the key ratio of cost of sales to turnover for her shop is 44%.

    While this is within the range for businesses in her industry with a turnover of $550,300, Anna sees that the range for cost of sales starts at 37%. She realises some of her competitors have lower cost of sales.

    Anna looked at other suppliers in the market and got a better deal to reduce her business’s expenses and improve profits.

    Notes to journalists

    MIL OSI News

  • MIL-OSI Australia: Vacancy fee return for foreign owners

    Source: Australian Department of Revenue

    What is a vacancy fee return

    A vacancy fee return is an online form that you lodge using Online services for foreign investors once a year while you own the residential property.

    The information required includes how many days in a vacancy year your property was occupied, that is:

    • occupied by the owner living in the property
    • rented by a tenant
    • made genuinely available for rent.

    You or your representative must lodge the vacancy fee return within 30 days from the end of each vacancy year using Online services for foreign investors.

    How a vacancy fee applies to you

    A vacancy fee is a fee that you pay when your residential property is vacant for 183 days (6 months) or more in one vacancy year. By living in the dwelling or making it available for rent, you may not need to pay the fee.

    Note: Established dwellings purchased as a principal place of residence cannot be rented or leased. The property needs to be genuinely occupied by foreign owners or their family members.

    You may need to pay a vacancy fee if your residential dwelling is not:

    • residentially occupied
    • genuinely available on the rental market
    • rented out for 183 or more days (6 months) in a 12-month period.

    A vacancy fee may also apply if the vacancy fee return is not lodged by the due date.

    More information on residential land and the vacancy fee are available at the Foreign InvestmentExternal Link website.

    When do you pay the vacancy fee

    When you lodge your vacancy fee return, the confirmation page will tell you if you are liable to pay a vacancy fee and the amount you need to pay. You can pay the fee when lodging the return or within 30 days of lodging the vacancy fee return.

    The vacancy fee is based on the fee amount you paid when you submitted the foreign investment application.

    After you’ve lodged we will email you a notice of liability of the vacancy fee payable that includes the following:

    • information on the reason we are charging you this fee
    • the fee amount payable
    • payment details
    • the due date.

    It is important you use the correct payment reference number (PRN) when making a payment.

    Changes to legislation mean that for vacancy years that start from 9 April 2024, the vacancy fee will be double the foreign investment application fee. This applies for all residential properties that are within scope of vacancy fee.

    Example: calculating the vacancy fee

    Myeong purchased a newly developed townhouse for $850,000 as an investment property in Geelong. Myeong paid a foreign investment application fee $13,200 and settlement occurred on 1 August 2022. Each year in August, Myeong is required to lodge a vacancy fee return.

    If Myeong is liable for a vacancy fee, for:

    • the vacancy years 1 August 2022 to 31 July 2023 and 1 August 2023 to 31 July 2024, the fee would be the same as the foreign investment application fee of $13,200
    • the vacancy year 1 August 2024 to 31 July 2025, the vacancy fee will be double the foreign investment application fee. The vacancy fee will therefore be $26,400

    End of example

    If you acquired the dwelling under a New or near-new dwelling exemption certificate held by a developer, the vacancy fee payable will be based on what the foreign investment application fee would have been for the dwelling had the exemption certificate not been in place.

    If the application fee was waived, the vacancy fee is based on the lowest foreign investment application fee that would have been payable.

    In the case of joint tenants, only one vacancy fee will be payable. For tenants in common, the fee payable will be based on the foreign investment application fee that was payable by each individual tenant.

    For more information on fees, see Residential fees for a foreign person.

    Who must lodge a vacancy fee return

    You must lodge a vacancy fee return if you:

    The vacancy fee may also apply where a foreign person failed to submit a foreign investment application but purchased a residential property before 9 May 2017.

    Joint owners or multiple dwellings

    If the dwelling is owned by 2 or more people as joint tenants, you only need to lodge one vacancy fee return.

    If you own a share of a dwelling as a tenant in common, you must each lodge a vacancy fee return.

    When multiple dwellings are constructed on the land, you must lodge a vacancy fee return for each new dwelling constructed.

    When you are not required to lodge a vacancy fee return

    You are not required to lodge a vacancy fee return but are required to update your details if any of the following occur during a vacancy year:

    • the dwelling is sold or otherwise legally transferred (including if the owner dies)
    • you are no longer a foreign investor.

    You do not have to lodge a vacancy fee return if you own vacant land and a dwelling has not yet been constructed on the land. You must lodge a vacancy fee return once a dwelling has been constructed and for each new dwelling constructed.

    If any other changes occur, such as changes to your foreign person status or property, you can update your details.

    More information about conveyancers, real estate agents and other persons charging a fee for services is available the Tax Practitioners BoardExternal Link website.

    You should direct any questions relating to tax agent services to the Tax Practitioners BoardExternal Link.

    When to lodge a vacancy fee return

    Lodge your vacancy fee return within 30 days at the end of each vacancy year.

    The first day of the 30-day period is the day following the last day of the vacancy year.

    Email reminder to lodge

    We generally email you a reminder to lodge your vacancy fee return if your details are up to date on Online services for foreign investorsExternal Link.

    What is the vacancy year

    In applying the vacancy fee rules, a vacancy year is each successive period of 12 months starting on the occupation day for the dwelling during which you have continuously held an interest in the dwelling.

    A vacancy year is unique to each dwelling held by you. It is not a calendar year or a financial year.

    What is occupation day

    The occupation day is the first day you have the right to occupy the dwelling. This will typically be the:

    • settlement day for an established dwelling
    • day on which a fitness for occupancy certificate for a new dwelling was issued.

    When construction of a dwelling has been completed you will need to contact us with the occupancy date before you can lodge a vacancy fee return, see Troubleshooting Online services for foreign investors.

    Example: working out the vacancy year

    Edmond is a foreign person who purchased an apartment that settled on 5 October 2022. As this was the date the apartment could be lived in, the occupancy date for the apartment is 5 October 2022.

    As long as Edmond is the owner of the property and is a foreign person, he is required to lodge a vacancy fee return for each vacancy year.

    The vacancy year starts from the occupancy date for the apartment. For Edmond, the first vacancy year is 5 October 2022 to 4 October 2023.

    Edmond must lodge his first vacancy fee return by 3 November 2023. This is the date that is 30 days after his vacancy fee year ended on 4 October 2023.

    His vacancy year for each subsequent year is 5 October to 4 October.

    End of example

    When is a dwelling residentially occupied

    A dwelling is considered residentially occupied if any of these situations last for at least 183 days in a vacancy year:

    • The owner or a relative of the owner genuinely occupied the dwelling as a residence.
    • The dwelling was genuinely occupied as a residence subject to lease or license for minimum terms of 30 days.
    • The dwelling was made genuinely available as a residence on the rental market (with minimum terms of 30 days).

    Residential occupancy of at least 183 days does not need to be one continuous block of time. Residential occupancy can be made up of multiple continuous periods of at least 30 days throughout the vacancy year.

    If a dwelling is made available for a short-term lease of less than 30 days (including via web-based stay sites) it is not residentially occupied. These dwellings are liable for a vacancy fee.

    We consider a dwelling genuinely available for occupation as a residence (with a term of 30 days or more) if it is:

    • made available on the rental market
    • advertised publicly
    • available at a market rent.

    You may need to provide supporting evidence to prove a dwelling was residentially occupied during a vacancy year. For example, if you are requesting a fee waiver on the basis that the dwelling was occupied.

    How to lodge a vacancy fee return

    You should lodge a vacancy fee return using Online services for foreign investors. Select either:

    • Lodgments then Vacancy fee return
    • Lodge or pay vacancy fee return quick link.

    If the occupancy date is not listed on your asset in Online services for foreign investors, you will need to contact us with the date, see Troubleshooting Online services for foreign investors.

    For further details on how to lodge your return and pay the vacancy fee, see Lodge a vacancy fee return.

    Log in to Online services for foreign investors

    From July 2023 when you register a residential dwelling, you will receive an asset identification number (asset ID), previously known as a land registration number.

    If you:

    • received a vacancy fee reminder from us, the number will be in the email
    • have not received a vacancy fee reminder, you may need to register your asset first in Online services for foreign investors to receive an asset ID.

    Vacancy fee exemptions

    You do not pay a vacancy fee if you can show that your dwelling was incapable of being occupied as a residence for at least 183 days in a vacancy year. You must still lodge a vacancy fee return to claim this exemption.

    Your dwelling may be considered incapable of being occupied as a residence if any of the following apply:

    • The dwelling is damaged, unsafe or is otherwise unsuitable to be occupied as a residence.
    • The dwelling is undergoing substantial repairs or renovations.
    • Occupation of the dwelling as a residence is prohibited or legally restricted by an order of a court or tribunal or a law of the Commonwealth, state or territory.
    • A person (who may or may not be the foreign person) who ordinarily occupies the dwelling was absent from the dwelling due to receiving long-term, in-patient, medical or residential care.

    You may be required to provide acceptable supporting evidence to prove the dwelling was incapable of being occupied.

    Vacancy fee waivers

    We only waive or remit fees in limited circumstances.

    The vacancy fee waiver form is not available in Online services for foreign investors.

    For information on details we consider and how to make a request, see Request waiver of an application fee.

    Penalties that may apply if you do not lodge

    If you do not lodge your vacancy fee return by the due date, you may be liable to pay a vacancy fee. This is regardless of the number of days the dwelling was residentially occupied during the vacancy year.

    If you are directed to pay the vacancy fee for failing to lodge, you will receive an email from us. The email notice will provide the following information:

    • reason we are charging the fee
    • amount of the fee you have to pay
    • payment details
    • due date.

    You may be liable for an infringement notice or a civil penalty if you do not:

    • lodge a vacancy fee return on time
    • keep records that are relevant to your liability for vacancy fees.

    You are required to keep these records for at least 5 years after the end of each vacancy year.

    More information on compliance for residential land is available at the Foreign InvestmentExternal Link website.

    Update your details if your situation changes

    It is important to keep us up to date about your situation, so we can contact you about your property.

    If your situation changes, you must update your details in Online services for foreign investors or contact us.

    A change of situation may include where:

    • you are no longer considered a foreign person (foreign owner)
    • ownership of your property changes
    • the owner has died
    • the vacant land or redevelopment property does not have a dwelling on it, or construction is not complete
    • construction of a new dwelling has been completed and a certificate of occupancy was received.

    If your:

    How to report a breach of the foreign investment rules

    If you suspect you’ve breached your foreign investment conditions, contact us as soon as possible.

    If you know or suspect someone else has breached the foreign investment rules, you can confidentially report a breach to us.

    MIL OSI News

  • MIL-OSI China: China’s commercial rocket sends 8 satellites

    Source: China State Council Information Office 2

    A CERES-1 carrier rocket carrying eight satellites blasts off from the Jiuquan Satellite Launch Center in northwest China on March 17, 2025. [Photo/Xinhua]
    China’s CERES-1 commercial rocket put eight satellites into the 535-kilometer sun-synchronous orbit on Monday.
    The carrier rocket, CERES-1 Y10, blasted off from the Jiuquan Satellite Launch Center in northwest China at 4:07 p.m. on March 17 on a mission dubbed “Auld Lang Syne.” It delivered five satellites, including the Yunyao-1 55-60 and the AIRSAT-06 and -07 satellites. 
    Equipped with Global Navigation Satellite System (GNSS) occultation detection payloads, the Yunyao-1 satellites are part of the commercial meteorological satellite constellation the Tianjin-based company Yunyao Aerospace is building, with plans for 90 in total. The payload enables satellites to collect atmospheric temperature, humidity, pressure and ionospheric electron density data. 
    The constellation aims to establish a real-time global atmospheric and ionospheric detection system for global weather forecasting and application in various industries. Specifically, it will provide meteorological forecast information with a real-time performance better than 20 minutes for countries along the Belt and Road partner countries, according to the company.
    Beijing-based rocket company Galactic Energy has completed 17 successful launches, with its most recent mission marking the first commercial launch of the year in China.

    MIL OSI China News

  • MIL-OSI China: Announcement on Open Market Operations No.52 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.52 [2025]

    (Open Market Operations Office, March 18, 2025)

    In order to keep the liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB273.3 billion through quantity bidding at a fixed interest rate on March 18, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB273.3 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年03月18日

    MIL OSI China News

  • MIL-OSI USA: Reed: Trump’s Cancellation of USDA Local Food Purchasing Programs Hurts Hungry Students & Families, Local Farmers, & the Economy

    US Senate News:

    Source: United States Senator for Rhode Island Jack Reed

    WASHINGTON, DC – As the Trump Administration confirms it is halting more than $1 billion in federal assistance that enables public schools and food banks to purchase nutritious produce and food from local farmers, U.S. Senator Jack Reed (D-RI) says these cancellations will harm hungry students and low-income families, farmers and food producers, and local economies.

    The U.S. Department of Agriculture (USDA) programs on the chopping block include the Local Food for Schools Cooperative Agreement Program and the Local Food Purchase Assistance Cooperative Agreement Program (LFPA). In a statement to The Hill, Trump’s USDA claimed that the essential programs that help provide nutritious food to hungry Americans “no longer effectuate the goals of the agency.”

    This year, the programs were set to distribute $660 million for schools and child care facilities and $500 million for food banks to work with local farmers within a set geographic range to purchase local food from farmers, fishermen, and food producers. The successful programs have increased access to locally-grown, nutritious food in underserved communities and helped family farmers, fishermen, and local food producers significantly expand their markets.

    Senator Reed joined with U.S. Senator Adam Schiff (D-CA) and 30 other colleagues in urging USDA Secretary Brooke Rollins to reverse course on these cuts and provide additional information about implementation of the USDA programs set to be cancelled.

    “At a time when food insecurity remains high, providing affordable, fresh food to food banks and families while supporting American farmers is critical. Notably, LFPA and LFS have benefitted producers and consumers by providing funding for purchases through all 50 states, four territories, and 84 tribal governments,” the Senators wrote. “Through LFPA and LFS, USDA has prioritized the procurement and distribution of healthy, nutritious, domestic food. It has also taken an important step towards igniting rural prosperity by expanding and strengthening markets among farmers and rural economies. As of December 2024, the programs had supported over 8,000 producers, providing increased marketing

    opportunities.

    According to Farm Fresh Rhode Island, these cuts would cost Rhode Island approximately $3 million and negatively impact about 100 small businesses in the Ocean State.

    Senator Reed noted that these drastic cuts come as Republican budget proposals threaten access to critical nutrition assistance programs and as the demand on local food banks across the nation continues to soar in Rhode Island and across the nation.

    “Making it harder for schools and food banks to serve up fresh, nutritious, local foods to students and struggling families is a shameful way to scrounge up cash for President Trump’s billionaires-first tax giveaway.  We know that hungry students do not perform as well in the classroom as their peers who have access to regular, nutritious meals. These reckless cuts to essential USDA programs will have an outsized impact on low-income families and on the local farmers, fishermen, and food producers who have benefitted significantly from expanded local markets for their goods,” said Senator Reed.  “Time and time again, President Trump has insisted that his Administration’s devastating cuts will magically not impact vulnerable American families. By cutting these vital USDA programs, he is making his priorities crystal clear – billionaires come first and American families come last.”

    During the COVID pandemic, Congress made $900 million available for U.S. Department of Agriculture (USDA) food purchasing efforts through the LFPA.  These programs helped strengthen local and regional food systems, improved agricultural supply-chain resiliency, and supported underserved producers and communities.  Using LFPA funds, states set up approved programs to purchase food produced within the state or within 400 miles of the delivery destination, which was then distributed through food banks, pantries, and other food distribution centers where hungry families in need can receive food.

    In Rhode Island, the Rhode Island Department of Environmental Management (DEM), working with nonprofits like Farm Fresh Rhode Island, was awarded a total of $1.78 million to purchase local foods for distribution within the state.  To date, DEM, Farm Fresh, and their partners, have purchased food from 95 local producers and distributed that nutritious, local food to over 65,000 Rhode Islanders.

    Last year, Senator Reed introduced legislation that would codify LFPA into law, providing permanent funding to ensure the program continues. Reed’s EAT Local Foods Act gained the support of a wide range of farmers, food hubs, coalitions, and business networks across the nation in addition to several leading Rhode Island organizations, including: the Rhode Island Community Food Bank, Farm Fresh Rhode Island, the Commercial Fisheries Center of Rhode Island, the Rhode Island Food Policy Council, and Southside Community Land Trust.

    In addition to Senators Reed and Schiff, the letter was signed by U.S. Senators Chuck Schumer (D-NY); Ben Ray Luján (D-NM); Amy Klobuchar (D-MN); Jeanne Shaheen (D-NH); Tina Smith (D-MN); Sheldon Whitehouse (D-RI); Ron Wyden (D-OR); Richard Blumenthal (D-CT); Martin Heinrich (D-NM); Chris Van Hollen (D-MD); Michael Bennet (D-CO); Elissa Slotkin (D-MI); Kirsten Gillibrand (D-NY); Elizabeth Warren (D-MA); Jeff Merkley (D-OR); Raphael Warnock (D-GA); Tammy Baldwin (D-WI); Richard Durbin (D-IL); Catherine Cortez Masto (D-NV); Patty Murray (D-WA); Angus King (I-ME); Bernie Sanders (I-VT); John Hickenlooper (D-CO); Gary Peters (D-MI); Jacky Rosen (D-NV); Peter Welch (D-VT); Alex Padilla (D-CA); Cory Booker (D-NJ); Ed Markey (D-MA); and Mazie Hirono (D-HI).

    Full text of the letter follows:

    March 14, 2025

    Ms. Brooke Rollins

    Secretary

    U.S. Department of Agriculture

    1400 Independence Ave SW

    Washington, DC 20250

    Dear Secretary Rollins:

    We write to express serious concerns regarding the cancellation of U.S. Department of Agriculture (USDA) programs supporting local and regional food purchases providing assistance to those in need. These successful programs, the Local Food Purchase Assistance Cooperative Agreement Program (LFPA) and the Local Food for Schools Cooperative Agreement Program (LFS), allow states, territories, and Tribes to purchase local foods from nearby farmers and ranchers to be used for emergency food providers, schools, and child care centers.

    At a time when food insecurity remains high, providing affordable, fresh food to food banks and families while supporting American farmers is critical. Notably, LFPA and LFS have benefitted producers and consumers by providing funding for purchases through all 50 states, four territories, and 84 tribal governments.

    Through LFPA and LFS, USDA has prioritized the procurement and distribution of healthy, nutritious, domestic food. It has also taken an important step towards igniting rural prosperity by expanding and strengthening markets among farmers and rural economies. As of December 2024, the programs had supported over 8,000 producers, providing increased marketing

    opportunities.

    Most importantly, we ask that you reverse the cancellation of LFPA and LFS. We also ask that you provide a thorough and complete update on USDA’s implementation of LFPA and LFS,

    including answers to the following questions:

    1. What is the status of reimbursements for entities that have agreements with USDA through LFPA and LFS? What is the last date for which states, territories, and Tribes received reimbursements for food purchases under LFPA and LFS?
    2. Has the Administration conducted any assessments of how these program cancellations will impact producers and recipient organizations (e.g., food banks, schools, child care centers)? If so, please provide a copy of any such assessments.

    We have grave concerns that the cancellation of LFPA and LFS poses extreme harm to producers and communities in every state across the country. At a time of uncertainty in farm country, farmers need every opportunity to be able to expand market access for their products.

    Please provide responses to the information requested in our questions no later than Friday, April 4. Thank you for your attention to this urgent and important matter.

    Sincerely,

    MIL OSI USA News

  • MIL-OSI New Zealand: Climate and Science – Extreme atmospheric rivers could double in future climate – NIWA

    Source: NIWA

    New Zealand could face twice as many of the most extreme atmospheric rivers by the end of the century, according to new research by the National Institute of Water and Atmospheric Research (NIWA) published today. Not only could the narrow bands of concentrated water vapour increase, but in the future rainfall from these ‘rivers in the sky’ is likely to make up a much bigger proportion of New Zealand’s total annual rainfall.
    The research, led by NIWA research assistant Felix Goddard, analysed the latest climate change projections released last year by NIWA and the Ministry for the Environment, and was recently published in the Journal of Geophysical Research: Atmospheres. 
    Co-author, NIWA climate scientist Dr Peter Gibson, says the study examined projections for the frequency and intensity of atmospheric rivers under a relatively high greenhouse gas emissions future. Only one scenario was investigated at this time.
    “Atmospheric rivers have been responsible for some of our biggest downpours in recent years, such as the West Coast flooding that took out the Waiho Bridge in March 2019, the widespread flooding in Westport in July 2021, and the exceptionally wet Auckland summer of 2022-2023. As an island nation surrounded by oceans, we experience atmospheric rivers when huge amounts of water vapour are transported down from the tropics and sub-tropics and make landfall. These ‘rivers in the sky’ cause heavy precipitation and flooding when they make landfall in New Zealand, producing extremely large rainfall totals, especially when they interact with mountainous terrain.”
    Dr Gibson says there are two reasons why atmospheric rivers are likely to increase in the future. “The first reason is that an overall warmer atmosphere can hold more water vapour, while the second reason why we may see an increase in atmospheric rivers is because of changes in wind patterns. Climate projections show changes to atmospheric circulation, with an intensification of the westerly jetstream over New Zealand with strong winds flowing west to east in the South Pacific region, and a shift of the jet towards the South Pole.”
    As well as finding that the most intense atmospheric rivers are likely to be more frequent and more intense, the researchers say that the phenomena may add up to 20 percent more to annual rainfall totals in some places. 
    “Overall, the biggest hotspot for these future changes is over the west coast of the South Island, where atmospheric rivers already often produce the largest impacts,” says Dr Gibson. 
    He says the latest climate projections for New Zealand, available on the Ministry for the Environment’s website, provide detailed information for every 5-kilometre square across the country. “The latest projections give us a much more comprehensive and detailed picture of our future climate. These updated climate change projections are based on refining the projections from six global climate models from the projections provided in the most recent report by the United Nations body that assesses the science related to climate change, the Intergovernmental Panel on Climate Change.”
    The more detailed information will enable better evidence-based discussion and choices, says Dr Gibson. “Development of these updated, high-resolution climate projections was a mammoth science and technology effort and involved huge supercomputing power. The dataset is now helping New Zealanders – including councils, companies and communities – to better understand their specific climate-related risks. In turn, this will improve decision-making for climate adaptation and support people to build resilience to extreme weather events.”
    More research is being undertaken by NIWA into specific climatic features in the projections, to provide clarity on the future climate New Zealanders are likely to face in the decades to come.
    Journal link:

    MIL OSI New Zealand News