Category: Business

  • MIL-OSI USA: Don’t Wait! Friday is the last day to apply for FEMA assistance in Mercer County, W.Va.

    Source: US Federal Emergency Management Agency

    Headline: Don’t Wait! Friday is the last day to apply for FEMA assistance in Mercer County, W.Va.

    Don’t Wait! Friday is the last day to apply for FEMA assistance in Mercer County, W.Va.

    CHARLESTON, W.Va. – Friday is the last day for Mercer County residents to apply for FEMA Assistance if they had damages from the Sept. 25-28, 2024, remnants of Tropical Storm Helene. THE DEADLINE TO APPLY IS FRIDAY, FEB. 7, 2025.FEMA assistance for individuals and families affected by the flooding can cover home repairs, personal property losses and other disaster-related needs not covered by insurance.Survivors can visit the Disaster Recovery Center (DRC) to apply and talk face-to-face with FEMA staff. The Mercer County recovery center location and hours are as follows: Princeton Disaster Recovery CenterLifeline Princeton Church of God250 Oakvale Road Princeton, WV 24740Hours of operation:Monday to Friday: 9 a.m. to 5 p.m.Closed Saturday and SundayDRCs are accessible to all, including survivors with mobility issues, impaired vision, and those who are who are Deaf or Hard of Hearing.An easy way to apply for FEMA assistance is by phone at 800-621-3362. The toll-free telephone line operates from 7 a.m. to 11 p.m., seven days a week. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA your number for that service. Residents can also apply or online at DisasterAssistance.gov or download the FEMA app to their smartphone or tablet.Friday, Feb. 7, 2025, is also the final deadline for homeowners, renters and business owners to apply for a U.S. Small Business Administration physical disaster loan. Applicants can apply online at sba.gov/disaster, call SBA’s Customer Service Center at (800) 659-2955, or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay service.For more information on West Virginia’s disaster recovery, visit emd.wv.gov, West Virginia Emergency Management Division Facebook page, www.fema.gov/disaster/4851 and www.facebook.com/FEMA.###FEMA’s mission is helping people before, during and after disasters. FEMA Region 3’s jurisdiction includes Delaware, the District of Columbia, Maryland, Pennsylvania, Virginia and West Virginia.Follow us on X at x.com/FEMAregion3 and on LinkedIn at linkedin.com/company/femaregion3.Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 833-285-7448. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA your number for that service. Multilingual operators are available (press 2 for Spanish and 3 for other languages).
    erika.osullivan
    Wed, 02/05/2025 – 15:31

    MIL OSI USA News

  • MIL-OSI: Nokia Corporation: Repurchase of own shares on 05.02.2025

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    5 February 2025 at 22:30 EET

    Nokia Corporation: Repurchase of own shares on 05.02.2025

    Espoo, Finland – On 5 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

    Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*
    XHEL 1,400,000 4.53
    CEUX
    BATE
    AQEU
    TQEX
    Total 1,400,000 4.53

    * Rounded to two decimals

    On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

    Total cost of transactions executed on 5 February 2025 was EUR 6,336,400. After the disclosed transactions, Nokia Corporation holds 239,524,606 treasury shares.

    Details of transactions are included as an appendix to this announcement.

    On behalf of Nokia Corporation

    BofA Securities Europe SA

    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.

    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.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    Attachment

    The MIL Network

  • MIL-OSI Europe: Philip R. Lane: A middle path for ECB monetary policy

    Source: European Central Bank

    Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Peterson Institute for International Economics (PIIE)

    Washington, D.C., 5 February 2025

    It is a pleasure to be here at the Peterson Institute for International Economics (PIIE): your impressive research on a wide range of topics is extremely valuable for policymakers.[1]

    At last week’s monetary policy meeting, the ECB’s Governing Council decided to lower the deposit facility rate – the rate through which we steer the monetary policy stance – by 25 basis points from 3.0 per cent to 2.75 per cent. In cumulative terms, the deposit facility rate has declined by 125 basis points since last June. The decision reflected our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.

    In what follows, I will explain in more detail the basis for this decision. I will review inflation developments, economic developments, our risk assessment, and financial and monetary conditions. Finally, I explain why pursuing a middle path for monetary policy is best suited to the current environment.

    Inflation developments

    The disinflation process remains well on track. Inflation has continued to develop broadly in line with the staff projections and is set to return to our two per cent medium-term target in the course of this year. Most measures of underlying inflation suggest that inflation will settle at around our target on a sustained basis. The Persistent and Common Component of Inflation (PCCI), which has the best predictive power among underlying inflation indicators for future headline inflation, continued to hover around two per cent in the December data, indicating that headline inflation is set to stabilise around our target.

    Domestic inflation, at 4.2 per cent, stayed well above all the other indicators in December mostly because wages and prices in certain sectors are still adjusting to the past inflation surge with a substantial delay. However, the PCCI for services, which should act as an underlying attractor for services inflation and domestic inflation, fell to 2.3 per cent.

    The anticipation of a downward shift in services inflation in the coming months also relates to the expected deceleration in wage growth in the course of 2025. Wages have been adjusting to the past inflation surges with a substantial delay, but the ECB wage tracker and the latest surveys point to a significant moderation in wage pressures this year. According to the latest results of the Survey on the Access to Finance of Enterprises (SAFE), firms expect wages to grow by 3.3 per cent on average over the next twelve months, down from 4.5 per cent this time last year. Similarly, the latest Corporate Telephone Survey indicates that wage growth should decelerate from 4.6 per cent in 2024 to 3.3 per cent in 2025 and 2.9 per cent in 2026. This assessment is shared broadly among forecasters. Consensus Economics, for example, foresees a decline in wage growth by about one percentage point between 2024 and 2025.

    Most measures of longer-term inflation expectations continue to stand at around two per cent, despite an uptick at shorter horizons that may reflect the recent rise in energy prices. While the inflation expectations of firms have stabilised at three per cent across horizons, according to the SAFE, larger firms that are aware of the ECB’s inflation target show convergence towards two per cent. Consumer inflation expectations have edged up recently, especially for the near term, which can at least be partly explained by their higher sensitivity to the recent uptick in realised inflation. Inflation expectations of professionals – as captured by the latest vintages of the Survey of Professional Forecasters and Survey of Monetary Analysts – as well as market-based measures of inflation compensation have ticked up for the near term but, over longer horizons, remain stable at levels consistent with our medium-term target of two per cent.

    Economic developments

    On a fourth-quarter-to-fourth-quarter basis, the 2024 growth rate came in at 0.9 per cent, constituting a material improvement in momentum relative to the 2023 growth rate of 0.1 per cent. While 2024 saw a modest recovery in consumption, investment remained weak and exporters continued to suffer competitiveness challenges. In terms of the quarterly profile, growth stagnated in the final quarter following a comparatively robust third quarter.

    The incoming survey indicators suggest that the euro area economy is set to remain subdued in the near term. While unemployment remained low at 6.3 per cent in December, there has been some softening in labour demand, as reflected in lower vacancies and lower employment growth.

    At the same time, our baseline assessment is that the conditions for a recovery remain in place. Higher incomes, lower interest rates and stronger household balance sheets should allow a faster pick-up in consumption. More affordable credit should also boost housing and business investment over time. Exports should also support the recovery as global demand rises, although this is highly conditional on developments in international trade policies.

    Financial and monetary conditions

    Global and euro area bond yields have increased significantly since our last meeting. Amongst other factors, the spillover impact of the rise in US and global longer-term rates has contributed to the steepening of the euro area yield curve.

    Our past interest rate cuts are gradually making it less expensive for firms and households to borrow. The cost of borrowing for firms has declined by 92 basis points and mortgage rates have declined by 62 basis points since their peaks in autumn 2023. However, the interest rates on existing corporate and household loan books remain high, especially in real terms, with pre-2022 debt still re-pricing at higher rates as fixation periods expire.

    In overall terms, financing conditions remain tight. While credit is expanding, lending to firms and households remains subdued relative to historical norms. Growth in bank lending to firms rose to 1.5 per cent in December. In part, the pick-up in December reflects firms substituting market-based long-term financing for bank-based borrowing amidst tightening market conditions and increasing upcoming redemptions of long-term corporate bonds. Overall external debt financing of firms increased by 1.9 per cent in December, but remained well below the historical average of 4.9 per cent.[2] Loans to households continued to rise gradually, driven by mortgages, but remained muted overall, with an annual growth rate of 1.1 per cent in December, notably below the long-term average of 4.2 per cent.

    According to the latest bank lending survey, the demand for loans by firms increased slightly in the fourth quarter. At the same time, credit standards for loans to firms have tightened again, after having broadly stabilised over the previous four quarters. The renewed tightening of credit standards for firms was driven by the fact that banks see higher risks to the economic outlook and have lower tolerance for taking on credit risk. This finding is consistent with the results from the SAFE, in which firms reported a small decline in the availability of bank loans and more demanding non-rate lending conditions. In terms of households, the demand for mortgages increased strongly, mostly on the back of more attractive interest rates and better prospects for the property market. Credit standards for housing loans remained unchanged overall.

    Risk assessment

    Risks to economic growth remain tilted to the downside. In addition to trade policy uncertainty, lower confidence could prevent consumption and investment from recovering as fast as expected. This could be amplified by geopolitical risks, such as Russia’s unjustified war against Ukraine and the tragic conflict in the Middle East, which could disrupt energy supplies and further weigh on global trade. Growth could also be lower if the lagged effects of monetary policy tightening last longer than expected. In the other direction, growth could be higher if easier financing conditions and falling inflation allow domestic consumption and investment to rebound faster.

    We take a two-sided approach to assessing inflation risk. Inflation could turn out higher if wages or profits increase by more than expected. Upside risks to inflation also stem from the heightened geopolitical tensions, which could push energy prices and freight costs higher in the near term and disrupt global trade. Moreover, extreme weather events, and the unfolding climate crisis more broadly, could drive up food prices by more than expected. By contrast, inflation may surprise on the downside if low confidence and concerns about geopolitical events prevent consumption and investment from recovering as fast as expected, if monetary policy dampens demand by more than expected, or if the economic environment in the rest of the world worsens unexpectedly. Greater friction in global trade would make the euro area inflation outlook more uncertain.

    A middle path for monetary policy

    Taken together, the incoming data since our previous meeting meant that it was clear that we should take a further step in monetary easing by lowering the deposit facility rate to 2.75 per cent. By excessively dampening demand, the alternative of holding the deposit facility rate at the level of 3.0 per cent would not have been consistent with the set of rate paths that would best ensure that inflation stabilises sustainably at our two per cent medium-term target. At the same time, the new level for the deposit facility rate at 2.75 per cent preserves considerable optionality in responding to shocks. In particular, the rate path can adjust as appropriate in the event of material upside or downside shocks to the inflation outlook and/or to economic momentum.

    While our baseline is that inflation should decline from 2.5 per cent in January to around our target in the coming months, it is still important to take into account that this deceleration might take longer than expected and that new upside risks to inflation could emerge, including due to external developments. These considerations explain why we have taken a step-by-step approach to rate cutting since last June.

    At the same time, an excessive abundance of caution in monetary easing could threaten the recovery in domestic demand that is needed to support the pricing environment compatible with our medium-term two per cent target. Under this too-cautious path, a below-target inflation dynamic could take hold, which would then require a more sizeable policy response to ensure inflation returns to our symmetric two per cent medium-term target.

    Balancing these considerations suggest a middle path is appropriate, which neither over-weighs upside risk nor over-weighs downside risk. That is, a robust monetary policy approach should balance the risks of moving too slowly against the risks of moving too quickly. Accordingly, it is prudent to maintain agility in adjusting the stance as appropriate on a data-dependent and meeting-by-meeting basis and to not pre-commit to any particular rate path.

    In closing, let me comment on two much-discussed concepts: restrictiveness and neutrality.

    When inflation is materially above target and requires a monetary response to ensure that it returns to target in a timely manner and that inflation expectations remain anchored, the monetary stance must be clearly restrictive. As inflation returns close to target, policymakers need to shift their focus to adjusting monetary policy in line with the incoming economic and financial data and the evolving risk assessment to deliver the two per cent target over the medium term. In other words, policymakers should deliver the monetary stance that is appropriate to the situation.

    In exiting a restrictive phase, much energy could be diverted towards creating a summary “restrictiveness” index. Any such index would have to incorporate at least nine factors: (i) the still-important rolling off of super-cheap debt that was taken out in the “low for long” era that is now being re-financed at higher rates; (ii) in the other direction, the transmission of the easing since the peak of the hiking cycle; (iii) the impact of the anticipation of future rate cuts on current financing conditions; (iv) the evolving contribution of quasi-exogenous influences on financing conditions (such as global upward pressure on term premia); (v) the dynamics of bond and equity risk premia; (vi) the evolution of credit standards in bank lending; (vii) the different timelines for market-based and bank-based transmission; (viii) the responsiveness of consumption and investment to shifting monetary conditions; and (ix) the responsiveness of price setting to shifting monetary conditions.

    All of these factors enter our calibration of monetary policy (our assessment of the strength of monetary policy transmission has been highlighted as central to our reaction function) and cannot be summarised by a single indicator such as comparing the prevailing policy rate to a highly-uncertain estimate of the so-called neutral rate.[3]

    In terms of policy making, uncertainty about the level of the neutral rate and, more generally, about the strength of monetary transmission inescapably sits alongside uncertainty about the inflation outlook and uncertainty about the economic outlook.

    This is why our 2021 monetary policy strategy statement highlights that our decisions are based on an integrated assessment of all relevant factors. Over the last two years, we have emphasised in particular the importance of underlying inflation and the strength of monetary transmission as particularly relevant in complementing our analysis of the inflation outlook. More generally, it is essential that all relevant risks are incorporated in monetary policy decisions.

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – EU-Saudi Arabia relations – E-002683/2024(ASW)

    Source: European Parliament

    The EU and the Kingdom of Saudi Arabia (KSA) maintain a growing partnership based on regional stability, sustainable development and economic transformation, aligned with the 2022 EU Gulf Strategy[1] and Saudi Vision 2030[2].

    The Crown Prince’s participation in the first EU-Gulf Cooperation Council (GCC) Summit in Brussels in October 2023 underscored KSA’s commitment to a stronger, forward-looking partnership with the EU in key areas, notably trade, investment, energy, connectivity, and green and digital transitions.

    Under the 2021 EU-KSA Cooperation Arrangement[3], the two sides hold annual political dialogues; the last one took place in Brussels in July 2023, as well as annual Senior Officials Meetings on global issues, the last one took place in Riyadh in September 2023.

    The KSA also hosts the first in the region EU-GCC Chamber of Commerce. In addition, the EU and KSA hold annual formal Human Rights Dialogues, addressing all rights issues and cooperation in multilateral fora, the most recent one in Riyadh in December 2024.

    The EU Special Representative for the Gulf also contributes to strengthening the EU-KSA partnership, particularly on regional security, as reflected at the April 2024 EU-GCC High-Level Forum on regional security, attended by the KSA Minister of Foreign Affairs.

    The KSA is a key EU partner for regional security and stability, notably in the framework of the joint EU-Norway-KSA Global Alliance for implementation of the two-state solution, with participation of more than 90 countries. The KSA Minister of Foreign Affairs has also joined relevant Foreign Affairs Council discussions.

    The EU and KSA are currently finalising the negotiations on a memorandum of understanding on Energy Transitions and Clean Technology Cooperation, focusing on low emissions, renewables, hydrogen, and energy efficiency.

    • [1]  JOIN(2022) 13 final.
    • [2] https://www.vision2030.gov.sa/media/rc0b5oy1/saudi_vision203.pdf
    • [3] https://www.eeas.europa.eu/sites/default/files/documents/2024/EEAS%20-%20KSA%20MFA%20Cooperation%20Arrangement%20FINAL_ENG_signed.pdf

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – The European fertiliser industry in purgatory – E-000396/2025

    Source: European Parliament

    Question for written answer  E-000396/2025
    to the Commission
    Rule 144
    Daniel Buda (PPE)

    Fertiliser prices in the EU have increased significantly since the start of 2025[1] due to the rise in gas prices, the weakening of the euro and global market dynamics. Farmers are paying more and more for nitrogen, phosphorus and potassium fertilisers, owing to rising urea prices, both in Europe and worldwide.

    On top of this, SKW Piesteritz, the largest producer of ammonia and urea in Germany[2], has cut production and temporarily shut down one factory due to increased production costs, strict environmental regulations and cheap imports of Russian fertilisers.

    The company’s directors point to a lack of action and ineffectual policy for the protection of the European market, and have stressed the need to reduce energy costs and taxes in order to maintain competitiveness. The crisis is affecting agriculture and logistics, resulting in shortages of transportation products such as AdBlue.

    • 1.How does the Commission plan to ensure the availability of the fertilisers vital to food security at affordable prices and in sufficient quantities to support European agriculture?
    • 2.What steps will the Commission take to end dependency on Russian fertilisers and boost European fertiliser production?
    • 3.When will a much-needed EU fertiliser strategy be published, as often called for by the European Parliament?

    Submitted: 29.1.2025

    • [1] https://agrointel.ro/315520/piata-ingrasamintelor-la-inceput-de-2025-se-scumpesc-fertilizantii-cu-azot-fosfor-si-potasiu
    • [2] https://agrointel.ro/315771/un-mare-producator-de-ingrasaminte-din-europa-isi-reduce-productia-din-cauza-costurilor-ridicate
    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Spread of foot-and-mouth disease in the EU – E-000395/2025

    Source: European Parliament

    Question for written answer  E-000395/2025
    to the Commission
    Rule 144
    Daniel Buda (PPE), Dan-Ştefan Motreanu (PPE)

    In Germany, the first case of foot-and-mouth disease in four decades has been detected on a farm near Berlin[1], triggering swift action: the slaughter of infected animals; transport bans; and the suspension of exports. Trading partners such as the UK and South Korea have imposed restrictions, banning the import of cattle, pigs and sheep from Germany[2], which theatens to undermine an agricultural sector with exports worth EUR 5 billion in 2024.

    • 1.What urgent concrete measures will the European Commission adopt to support Member States in preventing the spread of this disease, while ensuring continuity of trade and protecting the European agriculture sector?
    • 2.How does the Commission plan to support farmers affected by the outbreak of foot-and-mouth disease, both in terms of compensating for financial losses and of preventing similar crises in the future?

    Submitted: 29.1.2025

    • [1] https://www.politico.eu/article/germany-farmer-fear-massive-hit-foot-and-mouth-outbreak/
    • [2] https://www.politico.eu/article/uk-bans-german-livestock-imports-after-foot-and-mouth-outbreak/
    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Former Commissioner Thierry Breton’s new lobbying activities for Bank of America – E-000358/2025

    Source: European Parliament

    Question for written answer  E-000358/2025
    to the Commission
    Rule 144
    Pascale Piera (PfE), Anne-Sophie Frigout (PfE), Marie-Luce Brasier-Clain (PfE), Mathilde Androuët (PfE), Catherine Griset (PfE), Julie Rechagneux (PfE), Christophe Bay (PfE), Séverine Werbrouck (PfE), Jean-Paul Garraud (PfE), Malika Sorel (PfE), Aleksandar Nikolic (PfE), Julien Sanchez (PfE), Elisabeth Dieringer (PfE), Tomáš Kubín (PfE), Barbara Bonte (PfE), Anna Bryłka (PfE), Nikola Bartůšek (PfE), Ton Diepeveen (PfE), Jorge Martín Frías (PfE), Jorge Buxadé Villalba (PfE), Ondřej Knotek (PfE), Tomasz Froelich (ESN), Markus Buchheit (ESN), Hans Neuhoff (ESN), Erik Kaliňák (NI), Katarína Roth Neveďalová (NI), Diana Iovanovici Şoşoacă (NI), Kateřina Konečná (NI), Nicolas Bay (ECR), Fernand Kartheiser (ECR)

    On 15 January 2025, the Commission gave the green light for Thierry Breton’s new role lobbying for the Global Advisory Board of Bank of America[1].

    However, according to Articles 245 and 339 of the Treaty on the Functioning of the European Union, as a former European Commissioner, he is bound by ‘the duty to behave with integrity and discretion’ and to ‘not disclose information’ covered by the obligation of professional secrecy, including post term of office.

    The Commission’s Ethical Committee rightly pointed out in its opinion that there is nevertheless ‘a link between former Commissioner Breton’s portfolio responsibilities and the scope of the notified activity’, given the size of his portfolio.

    • 1.How does the Commission justify the obvious contradiction between, on the one hand, its decision to authorise Breton taking up this role for a foreign entity and, on the other hand, him being prohibited from using any information acquired during his term of office, when that mandate is precisely why he was asked to join the advisory board?
    • 2.Will it at long last review the composition of the Ethical Committee, whose members are ‘appointed by the Commission, on a proposal from the President’ (Article 12(4) of the Code of Conduct), with a view to making it properly independent?

    Submitted: 27.1.2025

    • [1] Commission Decision C(2025)9000 final

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Territorial supply restrictions and artificial price increases for basic food products – E-000393/2025

    Source: European Parliament

    Question for written answer  E-000393/2025
    to the Commission
    Rule 144
    Tomáš Zdechovský (PPE)

    The application of territorial supply restrictions by certain food companies has resulted in significant disparities in the prices of basic food products, such as butter, between EU Member States. These practices lead to artificially inflated prices in certain regions, disproportionately affecting consumers and limiting their access to affordable goods. Such restrictions undermine the core principles of the single market by hindering fair competition and fragmenting the internal market for essential goods. Moreover, they exacerbate economic inequalities and create unnecessary barriers for consumers and businesses alike.

    • 1.Is the Commission planning to adopt measures to prevent territorial supply restrictions across the EU and ensure fairer pricing for consumers?
    • 2.What specific actions does the Commission intend to take to strengthen the single market and address these anti-competitive practices?
    • 3.How does the Commission plan to monitor and enforce compliance with competition rules in the food sector to safeguard consumer interests?

    Submitted: 29.1.2025

    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Boosting innovation: the impact of intellectual property rights on business growth and employee benefits – E-000298/2025

    Source: European Parliament

    Question for written answer  E-000298/2025
    to the Commission
    Rule 144
    Dan-Ştefan Motreanu (PPE)

    As outlined in a report released on 9 January 2025 by the European Patent Office (EPO) and the EU Intellectual Property Office (EUIPO), businesses that hold intellectual property rights tend to generate between 28 % and 41 % higher revenues than those that do not.

    Using data collected between 2013 and 2022, the report analysed over 119 000 companies across EU Member States and revealed a strong correlation between company performance and the ownership of patents, trademarks and designs. This connection is particularly significant for small and medium-sized enterprises (SMEs).

    Employees also benefit from this dynamic: companies that hold intellectual property rights provide salaries that are, on average, 22 % higher than those offered by companies without such rights.

    What steps is the Commission taking to encourage and support the growth of businesses that own intellectual property rights?

    Submitted: 23.1.2025

    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: EIB Board approves €2.4 billion of financing for business innovation, energy grids, flood resilience and transport

    Source: European Investment Bank

    • Discussion of EIB Global strategic reorientation and support for European electricity grids
    • Energy-saving for businesses across Europe
    • Financing to expand hydrogen refuelling in Europe and rebuild damaged heating infrastructure in Ukraine

    The European Investment Bank (EIB) today approved €2.4 billion of new financing for business investment, clean energy, transport, telecommunications and flood protection in Europe.

    The EIB Board of Directors also discussed the strategic orientation of EIB Global. Reflecting the changing geopolitical context and even better aligning with EU external policy priorities, the Bank’s investments outside of the EU will continue contribute to a stronger Europe in a more stable, more prosperous and sustainable world.

    The Board examined ways to further increase support for electricity networks in Europe. In 2024, the Bank mobilised over €100 billion of additional investment for energy and financed a record high of €8.5 billion for electricity grids, which mobilised 40% of total EU investment in electricity grids.

    “We are ahead of the investment targets of the RePowerEU programme to bring cheaper and clean energy to European households and businesses. Last year the EIB marked a record in investment in energy grids and inter connectors, to bolster Europe’s competitiveness and security”, said EIB Group President Nadia Calviño.

    Energy networks, flood defences

    The first EIB Board of Directors of the year approved financing totalling €791 million to expand hydrogen production for transport, strengthen electricity distribution, and improve flood protection in Poland.

    This includes funding to boost research into and development of hydrogen and to increase the number of hydrogen refueling stations for cars and trucks.

    In support of Ukraine, the Board paved the way for financing of €100 million to repair damaged municipal heating infrastructure in the country.

    Outside the EU, the EIB agreed to provide financing to upgrade and extend electricity distribution in Panama. The goal is to increase renewable/energy use, bolster grids and expand power distribution to unserved communities in the country.

    Green innovation

    The Board also approved financing totalling €879 million for innovation and investment by businesses to improve energy efficiency and environmental sustainability.

    This includes backing automotive-component research and development at 15 manufacturing sites across Europe and low-carbon glass production in France and Spain.

    The EIB endorsed a new securitisation scheme to support Dutch business investment in climate action and environmental sustainability.

    Better connections

    The Board agreed €768 million in financing for transport and telecom networks in the EU and beyond.

    In Colombia, the Board approved EUR 418 million for construction of and the acquisition of trains for Metro Line 1 in the capital Bogota – a service expected to carry more than 1 million passengers a day when operational.

    The Board also gave the green light for financing of €350 million to expand mobile-phone networks across Italy.

    Background information  

    EIB 

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

    The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

    Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers

    Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

    MIL OSI Europe News

  • MIL-OSI Europe: Oral question – Lack of transparency of the EU legislative process and misuse of EU funds – O-000002/2025

    Source: European Parliament

    Question for oral answer  O-000002/2025
    to the Commission
    Rule 142
    Silvia Sardone, Ondřej Knotek, Filip Turek, Barbara Bonte, Mathilde Androuët, Anne-Sophie Frigout, Marie-Luce Brasier-Clain, Roman Haider, Jorge Buxadé Villalba, Mireia Borrás Pabón, Margarita de la Pisa Carrión, Roberto Vannacci, Nikola Bartůšek, Vilis Krištopans, Virginie Joron, António Tânger Corrêa
    on behalf of the PfE Group

    A recent investigation by the Dutch newspaper De Telegraaf[1] has revealed serious irregularities within the Commission, which has allegedly distributed substantial EU funds to environmentalist lobbies to advocate for its own ‘green agenda’. This is just the latest in a series of troubling events that has cast a shadow over the EU legislative process and the use of EU funds. Among these, we recall the decisions taken by the European Ombudsman in case 1316/2021/MIG, where she confirmed her finding of maladministration against the Commission for refusing public access to the text messages exchanged between Commission President Ursula von der Leyen and the CEO of the pharmaceutical company Pfizer regarding the purchase of COVID-19 vaccines, as well as in the so-called Qatargate scandal. Additionally, on 22 January 2025, Commissioner Serafin admitted during Parliament’s plenary session that ‘it was inappropriate for the Commission to sign agreements obliging NGOs to lobby Members of Parliament’, acknowledging a serious breach of fairness, transparency and loyal cooperation.

    In the light of the above:

    • 1.Can the Commission clarify the nature, amount, and source of the funds allocated for each legislative proposal subject to such an ‘inappropriate’ practice, and provide a detailed list of beneficiaries, the amounts received by them, and the lobbying objectives assigned?
    • 2.What measures has the Commission taken, or does it intend to take, to investigate and address the identified irregularities, including holding those responsible of improper or illegal practices accountable?
    • 3.What specific measures does the Commission have in place or plan to implement to ensure maximum transparency in the allocation of public funds and to avoid further potential conflicts of interest in the EU’s decision-making process?
    • 4.Finally, does the Commission intend to review and/or withdraw the legislation tainted by the findings revealed by De Telegraaf?

    Submitted: 3.2.2025

    Lapses: 4.5.2025

    • [1] https://www.telegraaf.nl/nieuws/1287315486/lobbyschandaal-in-brussel-eu-betaalde-milieuclubs-in-het-geheim-voor-promotie-van-groene-plannen-timmermans.
    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – US tariffs on Spanish black olives – E-002648/2024(ASW)

    Source: European Parliament

    On 14 November 2024[1], the EU requested to the World Trade Organisation (WTO) Dispute Settlement Body to authorise the imposition of countermeasures due to the United States (US) lack of compliance with the Panel report[2].

    As provided by Article 22.6[3] of the Dispute Settlement Understanding (DSU), the US are entitled to request an arbitration on the level of the countermeasures proposed by the EU.

    The EU will do its best to enable a swift conclusion of the arbitration proceeding. Once this step is finalised, the EU could proceed, in accordance with the WTO and EU framework, to adopt countermeasures .

    To support the table olive sector, possibilities exist under Rural Development Programmes[4] to help operators adapt their production processes to other market opportunities.

    There is also support for the sector under the promotion aid scheme. Besides, under the rules concerning de minimis aid, a Member State may grant support to a single processor within a period of three fiscal years.

    In addition, companies can receive aid without prior notification to the Commission as regards research and development, training and investment aid under the conditions of the General Block Exemption Regulation[5].

    The EU will continue to engage with the new US administration in order to achieve a solution to this dispute which is in the interest of EU exporters .

    • [1]  WT/DS577/20; https://www.wto.org/english/tratop_e/dispu_e/cases_e/ds577_e.htm
    • [2] WT/DS577/RW; https://www.wto.org/english/tratop_e/dispu_e/577rw_a_e.pdf
    • [3] https://ustr.gov/sites/default/files/enforcement/WTO/US.Open.Stmt.Arb.Mtg.%28as%20deliv%29.fin.%28public%29.pdf
    • [4] https://agriculture.ec.europa.eu/common-agricultural-policy/rural-development/country_en
    • [5] Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty, OJ L 187, 26.6.2014, p. 1-78; https://eur-lex.europa.eu/eli/reg/2014/651/oj
    Last updated: 5 February 2025

    MIL OSI Europe News

  • MIL-OSI Economics: Philip R. Lane: A middle path for ECB monetary policy

    Source: European Central Bank

    Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Peterson Institute for International Economics (PIIE)

    Washington, D.C., 5 February 2025

    It is a pleasure to be here at the Peterson Institute for International Economics (PIIE): your impressive research on a wide range of topics is extremely valuable for policymakers.[1]

    At last week’s monetary policy meeting, the ECB’s Governing Council decided to lower the deposit facility rate – the rate through which we steer the monetary policy stance – by 25 basis points from 3.0 per cent to 2.75 per cent. In cumulative terms, the deposit facility rate has declined by 125 basis points since last June. The decision reflected our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.

    In what follows, I will explain in more detail the basis for this decision. I will review inflation developments, economic developments, our risk assessment, and financial and monetary conditions. Finally, I explain why pursuing a middle path for monetary policy is best suited to the current environment.

    Inflation developments

    The disinflation process remains well on track. Inflation has continued to develop broadly in line with the staff projections and is set to return to our two per cent medium-term target in the course of this year. Most measures of underlying inflation suggest that inflation will settle at around our target on a sustained basis. The Persistent and Common Component of Inflation (PCCI), which has the best predictive power among underlying inflation indicators for future headline inflation, continued to hover around two per cent in the December data, indicating that headline inflation is set to stabilise around our target.

    Domestic inflation, at 4.2 per cent, stayed well above all the other indicators in December mostly because wages and prices in certain sectors are still adjusting to the past inflation surge with a substantial delay. However, the PCCI for services, which should act as an underlying attractor for services inflation and domestic inflation, fell to 2.3 per cent.

    The anticipation of a downward shift in services inflation in the coming months also relates to the expected deceleration in wage growth in the course of 2025. Wages have been adjusting to the past inflation surges with a substantial delay, but the ECB wage tracker and the latest surveys point to a significant moderation in wage pressures this year. According to the latest results of the Survey on the Access to Finance of Enterprises (SAFE), firms expect wages to grow by 3.3 per cent on average over the next twelve months, down from 4.5 per cent this time last year. Similarly, the latest Corporate Telephone Survey indicates that wage growth should decelerate from 4.6 per cent in 2024 to 3.3 per cent in 2025 and 2.9 per cent in 2026. This assessment is shared broadly among forecasters. Consensus Economics, for example, foresees a decline in wage growth by about one percentage point between 2024 and 2025.

    Most measures of longer-term inflation expectations continue to stand at around two per cent, despite an uptick at shorter horizons that may reflect the recent rise in energy prices. While the inflation expectations of firms have stabilised at three per cent across horizons, according to the SAFE, larger firms that are aware of the ECB’s inflation target show convergence towards two per cent. Consumer inflation expectations have edged up recently, especially for the near term, which can at least be partly explained by their higher sensitivity to the recent uptick in realised inflation. Inflation expectations of professionals – as captured by the latest vintages of the Survey of Professional Forecasters and Survey of Monetary Analysts – as well as market-based measures of inflation compensation have ticked up for the near term but, over longer horizons, remain stable at levels consistent with our medium-term target of two per cent.

    Economic developments

    On a fourth-quarter-to-fourth-quarter basis, the 2024 growth rate came in at 0.9 per cent, constituting a material improvement in momentum relative to the 2023 growth rate of 0.1 per cent. While 2024 saw a modest recovery in consumption, investment remained weak and exporters continued to suffer competitiveness challenges. In terms of the quarterly profile, growth stagnated in the final quarter following a comparatively robust third quarter.

    The incoming survey indicators suggest that the euro area economy is set to remain subdued in the near term. While unemployment remained low at 6.3 per cent in December, there has been some softening in labour demand, as reflected in lower vacancies and lower employment growth.

    At the same time, our baseline assessment is that the conditions for a recovery remain in place. Higher incomes, lower interest rates and stronger household balance sheets should allow a faster pick-up in consumption. More affordable credit should also boost housing and business investment over time. Exports should also support the recovery as global demand rises, although this is highly conditional on developments in international trade policies.

    Financial and monetary conditions

    Global and euro area bond yields have increased significantly since our last meeting. Amongst other factors, the spillover impact of the rise in US and global longer-term rates has contributed to the steepening of the euro area yield curve.

    Our past interest rate cuts are gradually making it less expensive for firms and households to borrow. The cost of borrowing for firms has declined by 92 basis points and mortgage rates have declined by 62 basis points since their peaks in autumn 2023. However, the interest rates on existing corporate and household loan books remain high, especially in real terms, with pre-2022 debt still re-pricing at higher rates as fixation periods expire.

    In overall terms, financing conditions remain tight. While credit is expanding, lending to firms and households remains subdued relative to historical norms. Growth in bank lending to firms rose to 1.5 per cent in December. In part, the pick-up in December reflects firms substituting market-based long-term financing for bank-based borrowing amidst tightening market conditions and increasing upcoming redemptions of long-term corporate bonds. Overall external debt financing of firms increased by 1.9 per cent in December, but remained well below the historical average of 4.9 per cent.[2] Loans to households continued to rise gradually, driven by mortgages, but remained muted overall, with an annual growth rate of 1.1 per cent in December, notably below the long-term average of 4.2 per cent.

    According to the latest bank lending survey, the demand for loans by firms increased slightly in the fourth quarter. At the same time, credit standards for loans to firms have tightened again, after having broadly stabilised over the previous four quarters. The renewed tightening of credit standards for firms was driven by the fact that banks see higher risks to the economic outlook and have lower tolerance for taking on credit risk. This finding is consistent with the results from the SAFE, in which firms reported a small decline in the availability of bank loans and more demanding non-rate lending conditions. In terms of households, the demand for mortgages increased strongly, mostly on the back of more attractive interest rates and better prospects for the property market. Credit standards for housing loans remained unchanged overall.

    Risk assessment

    Risks to economic growth remain tilted to the downside. In addition to trade policy uncertainty, lower confidence could prevent consumption and investment from recovering as fast as expected. This could be amplified by geopolitical risks, such as Russia’s unjustified war against Ukraine and the tragic conflict in the Middle East, which could disrupt energy supplies and further weigh on global trade. Growth could also be lower if the lagged effects of monetary policy tightening last longer than expected. In the other direction, growth could be higher if easier financing conditions and falling inflation allow domestic consumption and investment to rebound faster.

    We take a two-sided approach to assessing inflation risk. Inflation could turn out higher if wages or profits increase by more than expected. Upside risks to inflation also stem from the heightened geopolitical tensions, which could push energy prices and freight costs higher in the near term and disrupt global trade. Moreover, extreme weather events, and the unfolding climate crisis more broadly, could drive up food prices by more than expected. By contrast, inflation may surprise on the downside if low confidence and concerns about geopolitical events prevent consumption and investment from recovering as fast as expected, if monetary policy dampens demand by more than expected, or if the economic environment in the rest of the world worsens unexpectedly. Greater friction in global trade would make the euro area inflation outlook more uncertain.

    A middle path for monetary policy

    Taken together, the incoming data since our previous meeting meant that it was clear that we should take a further step in monetary easing by lowering the deposit facility rate to 2.75 per cent. By excessively dampening demand, the alternative of holding the deposit facility rate at the level of 3.0 per cent would not have been consistent with the set of rate paths that would best ensure that inflation stabilises sustainably at our two per cent medium-term target. At the same time, the new level for the deposit facility rate at 2.75 per cent preserves considerable optionality in responding to shocks. In particular, the rate path can adjust as appropriate in the event of material upside or downside shocks to the inflation outlook and/or to economic momentum.

    While our baseline is that inflation should decline from 2.5 per cent in January to around our target in the coming months, it is still important to take into account that this deceleration might take longer than expected and that new upside risks to inflation could emerge, including due to external developments. These considerations explain why we have taken a step-by-step approach to rate cutting since last June.

    At the same time, an excessive abundance of caution in monetary easing could threaten the recovery in domestic demand that is needed to support the pricing environment compatible with our medium-term two per cent target. Under this too-cautious path, a below-target inflation dynamic could take hold, which would then require a more sizeable policy response to ensure inflation returns to our symmetric two per cent medium-term target.

    Balancing these considerations suggest a middle path is appropriate, which neither over-weighs upside risk nor over-weighs downside risk. That is, a robust monetary policy approach should balance the risks of moving too slowly against the risks of moving too quickly. Accordingly, it is prudent to maintain agility in adjusting the stance as appropriate on a data-dependent and meeting-by-meeting basis and to not pre-commit to any particular rate path.

    In closing, let me comment on two much-discussed concepts: restrictiveness and neutrality.

    When inflation is materially above target and requires a monetary response to ensure that it returns to target in a timely manner and that inflation expectations remain anchored, the monetary stance must be clearly restrictive. As inflation returns close to target, policymakers need to shift their focus to adjusting monetary policy in line with the incoming economic and financial data and the evolving risk assessment to deliver the two per cent target over the medium term. In other words, policymakers should deliver the monetary stance that is appropriate to the situation.

    In exiting a restrictive phase, much energy could be diverted towards creating a summary “restrictiveness” index. Any such index would have to incorporate at least nine factors: (i) the still-important rolling off of super-cheap debt that was taken out in the “low for long” era that is now being re-financed at higher rates; (ii) in the other direction, the transmission of the easing since the peak of the hiking cycle; (iii) the impact of the anticipation of future rate cuts on current financing conditions; (iv) the evolving contribution of quasi-exogenous influences on financing conditions (such as global upward pressure on term premia); (v) the dynamics of bond and equity risk premia; (vi) the evolution of credit standards in bank lending; (vii) the different timelines for market-based and bank-based transmission; (viii) the responsiveness of consumption and investment to shifting monetary conditions; and (ix) the responsiveness of price setting to shifting monetary conditions.

    All of these factors enter our calibration of monetary policy (our assessment of the strength of monetary policy transmission has been highlighted as central to our reaction function) and cannot be summarised by a single indicator such as comparing the prevailing policy rate to a highly-uncertain estimate of the so-called neutral rate.[3]

    In terms of policy making, uncertainty about the level of the neutral rate and, more generally, about the strength of monetary transmission inescapably sits alongside uncertainty about the inflation outlook and uncertainty about the economic outlook.

    This is why our 2021 monetary policy strategy statement highlights that our decisions are based on an integrated assessment of all relevant factors. Over the last two years, we have emphasised in particular the importance of underlying inflation and the strength of monetary transmission as particularly relevant in complementing our analysis of the inflation outlook. More generally, it is essential that all relevant risks are incorporated in monetary policy decisions.

    MIL OSI Economics

  • MIL-OSI NGOs: Israel/OPT: Trump’s claim that US will take over Gaza and forcibly deport Palestinians ‘outrageous and shameful’

    Source: Amnesty International –

    In response to President Trump’s comments that the USA will “take over the Gaza Strip”, advocating again for the forcible transfer of around two million Palestinians from Gaza to neighbouring countries, Agnès Callamard, Amnesty International’s Secretary General, said:

    “President Trump’s remarks calling for the forcible transfer of Palestinians from the occupied Gaza Strip must be unequivocally and widely condemned. His language is inflammatory, outrageous and shameful, and his proposal amounts to a flagrant violation of international law. 

    “Any plan to forcibly deport Palestinians outside the occupied territory against their will is a war crime, and when committed as part of a widespread or systematic attack on the civilian population, it would constitute a crime against humanity.

    “President Trump’s comments dangerously dehumanises Palestinians, who for the last 16-months have been victims of Israel’s genocide in Gaza, and for decades have been living under illegal occupation and apartheid. Most of Gaza’s Palestinians are descendants and survivors of the 1948 Nakba, they have already been repeatedly uprooted and dispossessed by Israel and denied their right of return yet have continued to struggle to remain on their lands and defend their human rights.

    “Israel’s genocide in Gaza, including through unlawful killings, injuries and the deliberate infliction of conditions of life that are calculated to bring about their physical destruction, has been accompanied by an alarming rise in unlawful killings in the occupied West Bank, state-backed settler violence, mass land confiscation and arbitrary arrests, enforced disappearances, torture and other ill-treatment of Palestinians across the Occupied Palestinian Territory and Israel.

    “President Trump repeatedly referenced the destruction, killing and unlivable conditions in Gaza calling it a ‘demolition site’ while seated next to Israeli Prime Minister Netanyahu, yet he completely failed to mention the Israeli government’s responsibility for causing this devastation. Nor did he acknowledge the US government’s role in providing arms that have repeatedly been used to carry out deadly, unlawful attacks in Gaza.

    “In the face of President Trump’s dangerous threats, it’s more important than ever for the rest of the international community to categorically reject these proposals and expedite diplomatic efforts, in line with international law, to end Israel’s unlawful occupation, dismantle apartheid and uphold human rights for Palestinians and Israelis. History has abundantly demonstrated that sidelining international law for political expediency is a recipe for the perpetuation of violations.

    “Amnesty International also warns against the misuse of desperately needed humanitarian aid and reconstruction as a bargaining chip or as a means to coerce Palestinians in Gaza into leaving. No state is entitled to treat a protected population living under occupation as pawns in a geopolitical chess game.”

    MIL OSI NGO

  • MIL-OSI NGOs: Israel/ OPT: President Trump’s claim that US will take over Gaza and forcibly deport Palestinians appalling and unlawful

    Source: Amnesty International –

    Reacting to President Donald Trump’s comments that the USA will “take over the Gaza Strip”, advocating again for the forcible transfer of around 2 million Palestinians from Gaza to neighbouring countries, Amnesty International’s Secretary General Agnès Callamard said:

    “President Trump’s remarks calling for the forcible transfer of Palestinians from the occupied Gaza Strip must be unequivocally and widely condemned. His language is inflammatory, outrageous and shameful, and his proposal amounts to a flagrant violation of international law. 

    “Any plan to forcibly deport Palestinians outside the occupied territory against their will is a war crime, and when committed as part of a widespread or systematic attack on the civilian population, it would constitute a crime against humanity.

    “Any plan to forcibly deport Palestinians outside the occupied territory against their will is a war crime, and when committed as part of a widespread or systematic attack on the civilian population, it would constitute a crime against humanity” – Amnesty International’s Secretary General Agnès Callamard

    “President Trump’s comments dangerously dehumanizes Palestinians, who for the last 16-months have been victims of Israel’s genocide in Gaza, and for decades have been living under illegal occupation and apartheid. Most of Gaza’s Palestinians are descendants and survivors of the 1948 Nakba, they have already been repeatedly uprooted and dispossessed by Israel and denied their right of return yet have continued to struggle to remain on their lands and defend their human rights.

    “Israel’s genocide in Gaza, including through unlawful killings, injuries and the deliberate infliction of conditions of life that are calculated to bring about their physical destruction, has been accompanied by an alarming rise in unlawful killings in the occupied West Bank, state-backed settler violence, mass land confiscation and arbitrary arrests, enforced disappearances, torture and other ill-treatment of Palestinians across the Occupied Palestinian Territory and Israel.

    “President Trump’s comments dangerously dehumanizes Palestinians, who for the last 16-months have been victims of Israel’s genocide in Gaza, and for decades have been living under illegal occupation and apartheid” – Agnès Callamard

    “President Trump repeatedly referenced the destruction, killing and unlivable conditions in Gaza calling it a ‘demolition site’ while seated next to Israeli Prime Minister Netanyahu, yet he completely failed to mention the Israeli government’s responsibility for causing this devastation. Nor did he acknowledge the US government’s role in providing arms that have repeatedly been used to carry out deadly, unlawful attacks in Gaza.

    “In the face of President Trump’s dangerous threats, it’s more important than ever for the rest of the international community to categorically reject these proposals and expedite diplomatic efforts, in line with international law, to end Israel’s unlawful occupation, dismantle apartheid and uphold human rights for Palestinians and Israelis. History has abundantly demonstrated that sidelining international law for political expediency is a recipe for the perpetuation of violations.

    “Amnesty International also warns against the misuse of desperately needed humanitarian aid and reconstruction as a bargaining chip or as a means to coerce Palestinians in Gaza into leaving. No state is entitled to treat a protected population living under occupation as pawns in a geopolitical chess game.”

    MIL OSI NGO

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation, Shri Amit Shah, expresses his gratitude to Prime Minister Shri Narendra Modi Ji and Finance Minister Smt. Nirmala Sitharaman Ji for allocating ₹17,155 crore for railways in Gujarat in Budget 2025

    Source: Government of India (2)

    Union Home Minister and Minister of Cooperation, Shri Amit Shah, expresses his gratitude to Prime Minister Shri Narendra Modi Ji and Finance Minister Smt. Nirmala Sitharaman Ji for allocating ₹17,155 crore for railways in Gujarat in Budget 2025

    Under the Modi government, there has been a 29-fold increase in the railway budget for Gujarat

    In comparison to ₹589 crore during 2009-14, the railway budget for Gujarat has increased to ₹17,155 crore in the year 2025-26

    In the past decade, the electrification of railway tracks in Gujarat increased 22 times, and now 97 per cent of the railway tracks in Gujarat have been electrified

    As the Member of Parliament for Gandhinagar, I am delighted to share that station redevelopment works are being carried out at a cost of ₹799 crore

    This will further boost trade, industry, transportation, and employment in Gujarat

    Posted On: 05 FEB 2025 9:56PM by PIB Delhi

    Union Home Minister and Minister of Cooperation, Shri Amit Shah, expressed his gratitude to Prime Minister Shri Narendra Modi Ji and Finance Minister Smt. Nirmala Sitharaman Ji for allocating ₹17,155 crore for railways in Gujarat in Budget 2025.

    In a post on X platform, Union Home Minister and Minister of Cooperation, Shri Amit Shah said under the leadership of Prime Minister Shri Narendra Modi, the railway network of Gujarat, along with the entire country, is witnessing a golden period of development and expansion and the Union Budget2025-26 will further accelerate this journey of progress.

    Shri Amit Shah said, during 2009- 14  under the opposition Government, only ₹589 crore was allocated for railways in Gujarat during 2009 to 2014, while the Modi government has made a historic announcement to increase that amount by 29 times, to ₹17,155 crore in the year 2025-26. In the past decade, the electrification of railway tracks in Gujarat has increased by 22 times, and now 97 per cent of the railway tracks in Gujarat have been electrified, he added.

    He said, in the coming days, 87 stations in the state will be developed as Amrit Stations at a cost of ₹6,303 crore. Among these, the key stations include Ahmedabad, Anand, Ankleshwar, Jamnagar, Junagadh Junction, Mehsana Junction, Navsari, Porbandar, Rajkot Junction, Vadodara, and Vapi.Top of Form The redevelopment of 7 major stations is also under progress at a cost of ₹5,572 crore which include Gandhinagar Capital, Sabarmati, Somnath, Udhna, Surat, New Bhuj, and Ahmedabad.

    Being the Member of Parliament from Gandhinagar, he expressed delight that ₹799 crore is being invested for the redevelopment of the Gandhinagar. He said that this transformation of the railway network in the state will further boost trade, industry, transportation, and employment in Gujarat.

    ****

    Raj Kumar/ Vivek/ Ashutosh/ Pankaj

    (Release ID: 2100150) Visitor Counter : 43

    Read this release in: Hindi

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: English rendering of PM’s reply to the Motion of Thanks on the President’s Address in Lok Sabha

    Source: Government of India

    Posted On: 04 FEB 2025 8:57PM by PIB Delhi

    Respected Chairman,

    I am present here to express my gratitude to the address of the honourable President. Yesterday and today till late at night, all the honourable MPs enriched this motion of thanks with their views. Many honourable experienced MPs also expressed their views, and naturally, as is the tradition of democracy, where there was need, there was praise, where there was a problem, there were some negative things, but this is very natural! Mr. Speaker, it is a great fortune for me that the people of the country have given me the opportunity to sit at this place for the 14th time and express my gratitude to the address of the President, and therefore, today I want to express my gratitude to the people with great respect, and I also express my gratitude to all those who participated in the discussion in the House and enriched the discussion.

    Respected Chairman,

    We are in 2025, in a way 25% of the 21st century has already passed. Time will decide what happened in the 20th century after independence and in the first 25 years of the 21st century, and how it happened, but if we study this President’s address closely, it is clearly visible that the President has told the country about the next 25 years and a new confidence-building speech for a developed India. In a way, this speech of the respected President is going to strengthen the resolve for a developed India, create new confidence and inspire the general public.

    Respected Chairman,

    All the studies have repeatedly said that in the last 10 years, the people of the country have given us a chance to serve them. 25 crore countrymen have come out of poverty by defeating the poverty.

    Respected Chairman,

    For five decades you have heard slogans of eradicating poverty and now 25 crore poor people have come out after defeating poverty. It does not happen just like that. It happens when one spend one’s life for the poor in a planned manner with full sensitivity and dedication.

    Respected Chairman,

    When people connected to the land spend their lives on the land while knowing the truth about the land, then change on the land is certain.

    Respected Chairman,

    We have not given false slogans to the poor, we have given them true development. The pain of the poor, the suffering of the common man, the dreams of the middle class are not understood just like that. Respected Chairman, this requires passion and I have to say with sadness that some people do not have it.

    Respected Chairman,

    How difficult it is to live under a thatched roof with plastic sheets during the rainy season. There are moments when dreams are crushed every moment. Not everyone can understand this.

    Respected Chairman,

    Till now the poor have got 4 crore houses. Those who have lived that life do not understand what it means to get a house with a concrete roof.

    Respected Chairman,

    When a woman is forced to defecate in the open, she can either go out before sunrise or after sunset after facing a lot of difficulties to do this small daily ritual, such people cannot understand what trouble she has to go through, respected chairman.

    Respected Chairman,

    We have solved the problems of our sisters and daughters by building more than 12 crore toilets. Respected Chairman, these days there is a lot of discussion in the media. It is happening more on social media. Some leaders are focusing on Jacuzzi and stylish showers in homes, but our focus is on providing water to every home. After 75 years of independence, 70-75% of the country’s population, i.e. more than 16 crore households, did not have tap water connection. Our government has provided tap water to 12 crore families in 5 years and that work is progressing rapidly.

    Respected Chairman,

    We have done so much work for the poor and because of this, the honourable President has described it in detail in his speech. Those who keep themselves entertained by having photo sessions in the huts of the poor will find it boring to talk about the poor in the Parliament.

    Respected Chairman,

    I can understand their anger. Respected Chairman, identifying the problem is one thing but if there is a responsibility then you cannot leave it after identifying the problem, you have to make dedicated efforts to solve it. We have seen, and you must have seen our work of the last 10 years and also in the President’s address, our effort is to solve the problem and we make dedicated efforts.

    Respected Chairman,

    There used to be a Prime Minister in our country, it had become a fashion to call him Mr. Clean. It had become fashionable to call the Prime Minister Mr. Clean. He had identified a problem and he had said that if 1 rupee comes out from Delhi, then only 15 paise reaches the village. Now at that time, from the Panchayat to the Parliament, there was rule of one party, from the Panchayat to the Parliament, there was rule of one party and at that time he had publicly said that 1 rupee comes out and 15 paise reaches. It was an amazing kind of sleight of hand. Even a common man of the country can easily understand to whom the 15 paise used to go.

    Respected Chairman,

    The country gave us an opportunity, we tried to find solutions. Our model is savings as well as development, public money for the public. We created the Gem Trinity of Jan Dhan, Aadhar and Mobile and started giving direct benefit, direct benefit transfer through DBT.

    Respected Chairman,

    During our tenure, we deposited Rs 40 lakh crore directly into the accounts of the people.

    Respected Chairman,

    Look at the misfortune of this country, how the governments were run and for whom they were run.

    Respected Chairman,

    When the fever rises, people say anything, but when along with it, frustration and despair spreads, even then they say a lot.

    Respected Chairman,

    10 crore such fake people who were not born, who had not appeared on this land of India, were taking benefit of various schemes from the government treasury.

    Respected Chairman,

    So that the right does not face injustice, without worrying about political gain or loss, we removed these 10 crore fake names and launched a campaign to find the real beneficiaries and provide help to them.

    Respected Chairman,

    When these 10 crore fake people are removed and the accounts of various schemes are calculated, then almost 3 lakh crore rupees were saved from going into wrong hands. I am not saying whose hands were involved, it was from the wrong hands.

    Respected Chairman,

    We have also made full use of technology in government procurement, brought transparency and today even state governments are using the Gem portal. The purchases made through the Gem portal cost less than what is usually made and the government has saved Rs 1,15,000 crore.

    Respected Chairman,

    Our Swachh Bharat Abhiyan was ridiculed a lot, as if we had committed a sin, a mistake. I don’t know what all was said, but today I can say with satisfaction that due to this cleanliness drive, the government has earned 2300 crore rupees in recent years from the junk sold from government offices alone. Mahatma Gandhi used to talk about the principle of trusteeship. He used to say that we are trustees, this property belongs to the people and therefore we try to save every penny on the basis of this principle of trusteeship and use it at the right place and only then 2300 crore rupees are coming into the government treasury by selling junk from the Swachh Bharat Abhiyan.

    Respected Chairman,

    We made an important decision of ethanol blending. We know that we are not energy independent and we have to import it from outside. When ethanol blending was done and our income from petrol and diesel decreased, that one decision made a difference of Rs 100000 crore and this money of almost Rs 100000 crore has gone into the pockets of farmers.

    Respected Chairman,

    I am talking about saving, but earlier the headlines of newspapers used to be, scams worth so many lakhs. Scams worth so many lakhs, scams worth so many lakhs, it has been 10 years since these scams were not committed. By not having scams, lakhs and crores of rupees of the country have been saved, which are being used in the service of the people.

    Respected Chairman,

    The various steps we have taken have saved lakhs of crores of rupees, but we have not used that money to build a palace for mirrors. We have used it to build the country. The infrastructure budget was Rs 180000 crore 10 years ago, before we came. Respected Chairman, today the infrastructure budget is Rs 11 lakh crore and that is why the President has described how the foundation of India is getting stronger. Be it roads, highways, railways or village roads, a strong foundation of development has been laid for all these works.

    Respected Chairman,

    Savings in the government treasury is one thing and that should be done as I said about trusteeship, but we have also kept in mind that the general public should also get the benefit of these savings. The schemes should be such that the public also saves and you must have seen the expenses incurred by the common man due to illness under the Ayushman Bharat Yojana. On the basis of the people who have taken its benefit till now, I would say that due to taking benefit of Ayushman Yojana, the expenses that the countrymen would have to bear from their own pockets, like this, Rs 120000 crore has been saved for the public. It is necessary that now like Jan Aushadhi Kendra, today in the middle class families, all the gentlemen are of 60-70 years of age, so it is natural that some disease or the other comes, there is also the cost of medicines, medicines are also expensive, since we have opened Jan Aushadhi Kendras, there is 80% discount and because of that, the families who have taken medicines from these Jan Aushadhi Kendras have saved nearly Rs 30000 crore on the cost of medicines.

    Respected Mr Chairman,

    UNICEF also estimates that they have done a big survey of the families whose homes have sanitation and toilets, that family has saved about Rs. 70,000 in a year. Be it the Swachhata Abhiyan, the work of building toilets, the work of providing pure water, our common families are getting  huge benefits.

    Respected Mr Chairman,

    I mentioned tap water in the beginning. There is a report from WHO, WHO says that because of getting pure tap water, the average family has saved Rs. 40000 on expenses incurred on other diseases. I am not counting much, but there are many such schemes which have saved the expenses of the common man.

    Respected Chairman,

    Free food grains are given to crores of countrymen, and the family saves thousands of rupees. PM Surya Ghar Free Electricity Scheme: Wherever this scheme has been implemented, those families are saving on an average 25 to 30 thousand rupees on electricity every year, there is saving in expenses and if there is more electricity, then they are earning money by selling it. That is, there is also saving for the common man. We had run a campaign for LED bulbs. You know that before we came, LED bulbs were sold for Rs. 400 each. We ran such a campaign that its price came down to ₹40 and because of LED bulbs there was saving of electricity and more light was also available and about 20,000 crore rupees of the countrymen were saved in this.

    Respected Chairman,

    Farmers who have used Soil Health Cards scientifically have benefited greatly and such farmers have saved Rs 30,000 per acre.

    Respected Mr Chairman,

    In the last 10 years, by reducing the income tax, we have also worked to increase the savings of the middle class.

    Respected Mr Chairman,

    Before 2014, such bombs were hurled, such bullets were fired that the lives of the countrymen were shattered. We gradually moved ahead by filling up those wounds. 200000 rupees, in 2013-14, ₹200000, only ₹200000, there was income tax exemption on that and today 12 lakh rupees are completely exempted from income tax and in the intervening period also in 2014, in 2017, in 2019, in 2023, we have been doing this continuously, healing the wounds and today the bandage that was left has also been done. If we add 75000 standard deduction to it, then after 1st April, the salaried class of the country will not have to pay any income tax up to 12.75 lakh rupees.

    Respected Chairman,

    When you were working in Yuva Morcha, you must have heard and read about a Prime Minister who used to say 21st century, 21st century almost every day. In a way, it had become a memorized phrase, it had become a catchphrase. He used to say 21st century, 21st century. When it was said so often, R K Laxman had made a great cartoon in Times of India. That cartoon was very interesting. In that cartoon, there is an airplane and a pilot. I don’t know why he liked the pilot. Some passengers were sitting and the airplane was placed on a cart and workers were pushing the cart and 21st century was written on it. That cartoon seemed like a joke at that time, but later on it proved to be true.

    Respected Mr Chairman,

    This was a sarcasm; it was a cartoon that demonstrated how disconnected from ground reality the then Prime Minister was that he was engaged in baseless talk.

    Respected Mr Chairman,

    Those who then talked about the 21st century were not even able to fulfill the needs of the 20th century.

    Respected Mr Chairman,

    Today when I see that I have got the opportunity to look closely at all the things that happened in the last 10 years, I feel very sad. We are 40-50 years late, the work which should have been done 40-50 years ago, and hence this year when the people of the country gave us the opportunity to serve from 2014, we focused more and more on the youth. We emphasized on the aspirations of the youth, we created more opportunities for the youth, we opened many sectors and due to which we are seeing that the youth of the country are waving the flag of their capabilities. We opened the space sector in the country, opened the defense sector, brought the semiconductor mission, we gave shape to many new schemes to promote innovation, completely developed the Startup India ecosystem and in this budget also, respected Chairman ji, a very important decision has been taken. Income tax exemption on income of Rs 12 lakh, this news became so big that many important things have still not been noticed by some people. That important decision has been taken; we have opened up the nuclear energy sector and the country is going to see its far-reaching positive impacts and results.

    Respected Mr Chairman,

    We are also among those who are making efforts to discuss AI, 3D printing, robotics, virtual reality and what is the significance of gaming. I have told the youth of the country that why should India not become the gaming capital of the world and the creativity capital of the world and I see that our people are working very fast. Some people use this word when it is in fashion, but for me there is no single AI, there is double AI, India has double strength, one AI is Artificial Intelligence and the other is AI Aspirational India. We started 10000 tinkering labs in schools and today the children coming out of those tinkering labs are surprising people by making robotics and in this budget, provision has been made for 50000 new tinkering labs. India is a country about whose India AI mission the whole world is very optimistic and India’s presence has gained an important place in the world’s AI platform.

    Respected Mr Chairman,

    In this year’s budget, we have talked about investment in the domain of deep tech and I believe that in order to move ahead at a fast pace in deep tech and the 21st century being a completely technology driven century, it is necessary for us that India moves ahead very fast in the field of deep tech.

    Respected Mr Chairman,

    We are constantly working keeping the youth’s future in mind, but there are some parties that are constantly cheating the youth. These parties will give this allowance or that allowance during elections, they make promises but do not fulfill them.

    Respected Mr Chairman,

    These parties have become a disaster for the future of the youth. 

    Respected Chairman,

    The country has just seen in Haryana how we work. We had promised jobs without any expenditure and without any slips. As soon as the government was formed, the youth got jobs. This is the result of what we say.

    Respected Mr Chairman,

    Grand victory for the third time in Haryana and victory for the third time in the history of Haryana, this is a historic event in itself.

    Respected Mr Chairman,

    Historical result in Maharashtra too, blessings of the people, for the first time in the history of Maharashtra the ruling party has so many seats, we have achieved this with the blessings of the people.

    Respected Mr Chairman,

    In his address, the Honourable President has also discussed in detail the completion of 75 years of our Constitution.

    Respected Mr Chairman,

    Apart from the clauses in the constitution, there is also a spirit of the constitution and to strengthen the constitution, the spirit of the constitution has to be lived and today I want to explain this with examples. We are the people who live the constitution.

    Respected Mr Chairman,

    It is true that in our country, when the President addresses the House, he gives details of the government’s tenure for that year. Similarly, in the state, when the Governor addresses the House, he gives details of the activities of that state. What is the spirit of the Constitution and democracy? When Gujarat completed 50 years, we were celebrating its Golden Jubilee Year and luckily I was serving as the Chief Minister at that time, we took an important decision. We decided that in this Golden Jubilee Year, all the speeches of the Governors in the House in the last 50 years, that is, the governments of that time are praised in it. We said that all the speeches of the Governors in those 50 years should be prepared in the form of a book, a treatise should be made and today that treatise is available in all the libraries. I was from BJP, in Gujarat, there were mostly Congress governments. There were speeches of the governors of those governments, but the job of making them famous was being done by the BJP, this Chief Minister from the BJP, why? We know how to live the Constitution. We are dedicated to the Constitution. We understand the spirit of the Constitution.

    Respected Mr Chairman,

    You know that when we came in 2014, there was no honourable opposition. There was no Recognised Opposition Party. No one had come with even that many marks. There were many laws in India that had complete freedom to work according to those laws, there were many committees in which it was written that the Leader of the Opposition would be in them. But there was no opposition, there was no Recognised Opposition. This was our nature of living the Constitution, this was the spirit of our Constitution, this was our intention to follow the limits of democracy, we decided that even though there would not be an honourable opposition, there would not be a Recognised Opposition, but the leader of the largest party would be called in the meetings. This is the spirit of democracy, it happens then. Committees of the Election Commission, respected Mr Chairman,earlier the Prime Minister used to file it and issue it, it is we who have included the Leader of Opposition in it and we have also made a law for it and today when the Election Commission will be formally formed, the Opposition Leader will also be a part of its decision making process, we do this work. And I have already done this, we do it because we live the Constitution.

    Respected Mr Chairman,

    You will find many places in Delhi where some families have built their own museums. The work is being done with the money of the people, what is the spirit of democracy, what is it called living the Constitution, we built the PM Museum and the life and work of all the Prime Ministers of the country from the first to my predecessors have been made in that PM Museum and I would like that the families of the great men who are in this PM Museum should take out time to see that museum and if they feel like adding something to it, then they should draw the attention of the government so that the museum is enriched and inspires the new children of the country, this is the spirit of the Constitution! Everyone does everything for themselves, the group of people who live for themselves is not very small, people who live for the Constitution are sitting here.

    Respected Mr Chairman,

    When power becomes service, nation building happens. When power is made a legacy, democracy ends.

    Respected Mr Chairman,

    We follow the spirit of the Constitution. We don’t do politics of poison. We give utmost importance to the unity of the country and that is why we build the world’s tallest statue of Sardar Vallabhbhai Patel and we remember the great man who worked to unite the country with the Statue of Unity and he was not from the BJP, he was not from the Jan Sangh. We live the Constitution, that is why we move forward with this thinking.

    Respected Mr Chairman,

    It is the misfortune of the country that these days some people are openly speaking the language of urban Naxals and the things that urban Naxals say, like taking on the Indian State, these people who speak the language of urban Naxals and declare war against the Indian State can neither understand the Constitution nor the unity of the country.

    Respected Mr Chairman,

    For seven decades, Jammu & Kashmir and Ladakh were deprived of the rights of the Constitution. This was injustice to the Constitution and also injustice to the people of Jammu & Kashmir and Ladakh. We broke the wall of Article 370, now the citizens of those states of Jammu & Kashmir and Ladakh are getting the rights that the countrymen have and we know the importance of the Constitution, we live by the spirit of the Constitution, that is why we take such strong decisions.

    Respected Mr Chairman,

    Our Constitution does not give us the right to discriminate. Those who live with the Constitution in their pockets do not know what kind of problems you forced Muslim women to live in. We have worked to give rights to Muslim daughters in accordance with the spirit of the Constitution by abolishing triple talaq, and have given them the right to equality. Whenever there has been an NDA government in the country, we have worked with a long vision. I don’t know what kind of language is being used to divide the country, I don’t know how far frustration and disappointment will take them, but what is our thinking, in which direction do the NDA partners think, for us, we pay more attention to what is behind, what is last and what Mahatma Gandhi had said and the result of that is that even if we create ministries, then which ministry do we create, we create a separate ministry for the North-East. We have been in the country for so many years, till Atal ji came, no one understood, he kept giving speeches, NDA created a separate ministry for the tribals.

    Respected Mr Chairman,

    Our southern states are connected to the sea coast. Many states in our east are connected to the sea coast. Fisheries work and fishermen are a very large part of the society there. They should also be taken care of and in the areas where there is a small amount of water inside the land, there are fishermen from the last section of the society too. It is our government which has created a separate ministry for fisheries.

    Respected Mr Chairman,

    The downtrodden and deprived people of the society have a potential within them, if emphasis is laid on skill development, new opportunities can be created for them. Their hopes and aspirations can create a new life and hence we created a separate Skill Ministry.

    Respected Mr Chairman,

    The first duty of democracy in the country is that we should give power to the common man and keeping this in mind, there is an opportunity to connect crores of people of the country to make the cooperative sector of India more prosperous and healthy. The cooperative movement can be increased in many areas and keeping this in mind, we have created a separate cooperative ministry. What is the vision is known here.

    Respected Mr Chairman,

    Talking about caste has become a fashion for some people. For the last 30 years, the MPs from the OBC community who have been coming to the House for the last 30 years, have been demanding for the last 30-35 years that the OBC Commission be given constitutional status by rising above party differences. Those who see profit in casteism today, did not remember the OBC community at that time, it is us who gave constitutional status to the OBC community. The Backward Classes Commission is included in the constitutional system today.

    Respected Mr Chairman,

    We have worked very strongly in the direction of providing maximum opportunities to SC, ST and OBC in every sector. Today, through this House, I want to put forth an important question before the countrymen and Mr. Speaker, the countrymen will surely ponder over this question of mine and will also discuss it at crossroads. Someone please tell me, has there ever been three SC MPs from the same family in the Parliament at the same time? Have there ever been three SC MPs from the same family? I want to ask another question, can someone please tell me whether there have ever been three ST MPs from the same family in the Parliament at the same time and in the same period?

    Respected Mr Chairman,

    I got the answer to one of my questions about the difference between the speech and behavior of some people. The difference is like the difference between the earth and the sky, the difference is like the difference between night and day.

    Respected Mr Chairman,

    How are we empowering SC ST society? Respected Chairman, I will give you an example of how the welfare of the deprived society is done while maintaining the spirit of unity without creating tension in the society. Before 2014, the number of medical colleges in our country was 387. Today there are 780 medical colleges. Now that the number of medical colleges has increased, the seats have also increased. This is a very important angle, Respected Chairman, and hence the colleges have increased and the seats have also increased. Before 2014, the MBBS seats for SC students in our country were 7700. Before we came, there was a possibility of 7700 youth from Dalit society becoming doctors. We worked for 10 years, today the number has increased and arrangements have been made for 17000 MBBS doctors of SC society. Where is 7700 and where is 17000, if there is any welfare of Dalit society and if there is no tension in the society while increasing the respect of each other.

    Respected Mr Chairman,

    Before 2014, there were 3800 MBBS seats for ST students. Today this number has increased to around 9000. Before 2014, there were less than 14000 MBBS seats for OBC students. Today their number has increased to around 32000. 32000 MBBS doctors will be made from OBC community.

    Respected Mr Chairman,

    In the last 10 years a new university has been established every week, a new ITI has been built every day, a new college has opened every 2 days, just imagine how much growth has taken place for our SC, ST, OBC young men and women.

    Respected Mr Chairman,

    We are behind every scheme- 100% saturation, implement it 100%, the beneficiaries should not be left out, we are working in that direction. First of all, we want that the one who is entitled to it should get it, if there is a scheme, then it should reach him, the game of 1 rupee 15 paise cannot work. But what some people did is that they made a model that gave to only a few people and torment others and did the politics of appeasement. To make the country a developed India, we will have to get rid of appeasement. We have chosen the path of satisfaction, not appeasement, and we are walking on that path. Every society, every class of people should get what is their right without any discrimination, this is satisfaction and according to me when I talk about 100% saturation, it means that it is actually social justice. This is actually secularism and in fact it is respect for the constitution.

    Respected Mr Chairman,

    The spirit of the Constitution is that everyone should get better health and today is also Cancer Day. Today, a lot of discussions are going on about health in the country and the world. But there are some people who are creating obstacles in providing health services to the poor and the elderly and that too due to their political interests. Today, 30,000 hospitals in the country and good specialized private hospitals are associated with Ayushman. Where Ayushman card holders get free treatment. But some political parties, due to their narrow mindset, due to bad policies, have kept the doors of these hospitals closed for the poor and cancer patients have suffered the loss. Recently, a study by the public health journal Lancet has come out, which says that cancer treatment is starting on time with the Ayushman scheme. The government is very serious about cancer detection. Because the sooner the detection is done, the sooner the treatment starts, we can save the cancer patient and Lancet has given credit to the Ayushman scheme and said that a lot of work has been done in this direction in India.

    Respected Mr Chairman,

    In this budget too, we have taken a very important step towards making cancer medicines cheaper. Not only this, an important decision has been taken in the coming days and since today is Cancer Day, I would definitely like to say that all the honourable MPs can take advantage of this for such patients in their area, and that is the patients, you know that due to lack of enough hospitals, patients coming from outside face a lot of problems, a decision has been taken in this budget to build 200 day care centers. These day care centers will provide great relief to the patient as well as his family.

    Respected Mr President,

    While discussing the speech of the President, foreign policy was also discussed and some people feel that unless they talk about foreign policy, they do not look mature, so they feel that foreign policy should be talked about even if it causes loss to the country. I want to tell such people, if they are really interested in foreign policy subject and want to understand foreign policy and want to do something in future, I am not saying this for Shashi ji, so I would tell such people to definitely read a book, maybe they will understand what to say where, the name of that book is JFK’s forgotten crisis. It is about JF Kennedy. It is a book named JFK’s forgotten crisis. This book has been written by a famous foreign policy scholar and important events are mentioned in it. This book also mentions the first Prime Minister of India and he also led the foreign policy. This book also describes in detail the discussions and decisions taken between Pandit Nehru and the then President of America, John F. Kane. When the country was facing a lot of challenges, what game was going on in the name of foreign policy then, is now coming to light through that book and so now I would say that please read this book.

    Respected Mr Chairman,

    After the President’s speech, it is your wish if a woman President, daughter of a poor family, could not be respected, but she is being insulted by all sorts of things being said. I can understand political frustration and disappointment, but what is the reason against a President, what is the reason.

    Respected Mr Chairman,

    Today India is moving ahead by leaving this kind of distorted mentality and thinking behind and following the mantra of women led development. If half of the population gets full opportunity, then India can progress at twice the speed and this is my belief, after working in this field for 25 years my belief has become stronger.

    Respected Mr Chairman,

    In the last 10 years, 10 crore new women have joined Self Help Groups (SHGs), and these women are from underprivileged families, from rural backgrounds. The strength of these women sitting at the bottom of the society has increased, their social status has also improved and the government has increased their assistance to Rs 20 lakh, so that they can take this work forward. We are making efforts in this direction to increase their work capacity, increase its scale and today it is having a very positive impact on the rural economy.

    Respected Mr Chairman,

    The President has discussed the Lakhpati Didi Abhiyan in his speech. According to the information registered so far after the formation of our new government for the third time, we have received information about more than 50 lakh Lakhpati Didis and since I have taken this scheme forward, till now about 1.25 crore women have become Lakhpati Didis and our target is to make three crore women Lakhpati Didis and for this, emphasis will be laid on economic programs.

    Respected Mr Chairman,

    Today, Drone Didi is being discussed in many villages of the country, a psychological change has come in the village, seeing a woman flying a drone in her hand, the villagers’ view of women is changing and today Namo Drone Didi has started earning lakhs of rupees by working in the fields. Mudra Yojana is also playing a very important role in the empowerment of women. Crores of women have stepped into the industry for the first time with the help of Mudra Yojana and have come into the role of industrialists.

    Respected Mr Chairman,

    Out of the houses given to 4 crore families, approximately 75 percent of the houses are owned by women.

    Respected Mr Chairman,

    This change is laying the foundation of a strong India of the 21st century. Respected Speaker, the goal of developed India is the rural economy, without strengthening it we cannot build a developed India and therefore we have tried to touch every sector of the rural economy and we know that agriculture is very important in the rural economy. Our farmers are a strong pillar among the four pillars of developed India. In the last decade, the budget for agriculture has been increased 10 times. Let me tell you about the period after 2014 and this is a very big jump.

    Respected Mr Chairman,

    Those who talk about farmers here today, before 2014, they used to be beaten up for asking for urea. They had to stand in queues all night and that was the time when fertilizers were issued in the name of farmers, but did not reach the fields, somewhere else in black millet and the game of sleight of hand of 1 rupee and 15 paise was going on. Today farmers are getting enough fertilizers. The great crisis of Covid came, the entire supply chain got disturbed, the prices in the world increased unreasonably and the result was that because we are dependent on urea, we have to import it from outside, today for the Indian government  a bag of urea costs ₹ 3000, the government has borne the burden and has given it to the farmer at a price less than 300, less than 300 rupees. We are continuously working to ensure that the farmer gets maximum benefit.

    Respected Mr Chairman,

    In the last 10 years, 12 lakh crore rupees have been spent to ensure that farmers get cheap fertilizers. Around 3.5 lakh crore rupees have been transferred directly to farmers’ accounts through PM Kisan Samman Nidhi. We have also increased the MSP on a record basis and have procured three times more in the last decade than before. Farmers should get loans, easy loans, cheap loans, and that too has increased three times. Earlier, farmers were left to fend for themselves during natural calamities. During our tenure, farmers have received 2 lakh crore rupees under PM Fasal Bima.

    Respected Mr Chairman,

    Unprecedented steps have been taken for irrigation in the last decade and it is unfortunate that those who talk about the Constitution do not have much knowledge. Very few people would know that in our country, Dr. Babasaheb Ambedkar’s vision regarding water schemes was so clear, so comprehensive and so inclusive that it inspires us even today. We launched a campaign to complete more than 100 irrigation projects that were pending for decades, so that water reaches the farmers’ fields. Babasaheb’s vision was to link rivers, Babasaheb Ambedkar advocated linking of rivers. But for years, decades passed, nothing happened. Today we have started work on the Ken-Betwa Link Project and the Parvati-Kalisindh-Chambal Link Project and I have also had a successful experience of working to revive extinct rivers by linking many rivers in Gujarat in this way.

    Respected Mr Chairman,

    This should be the dream of every citizen of the country. It should be the dream of all of us that there should be Made in India food packets on every dining table in the world. Today I feel happy when along with Indian tea, our coffee is also spreading its fragrance in the world. It is making a splash in the markets. Even our turmeric has seen the highest demand after Covid.

    Respected Mr Chairman,

    You will definitely see that in the coming times, our processed seafood and the Makhana of Bihar, which some people are worried about and don’t know when and why, is going to reach the world. Our coarse grain i.e. Shri Anna, will also increase the prestige of India in the world markets.

    Respected Mr Chairman,

    Future Ready cities are also very important for a developed India. Our country is rapidly moving towards urbanisation and this should not be considered a challenge or a crisis. It should be considered an opportunity and we should work in that direction. Expansion of infrastructure leads to expansion of opportunities. Where connectivity increases, possibilities also increase. The first Namo Rail connecting Delhi-UP was inaugurated and I also got the opportunity to travel in it. Such connectivity, such infrastructure should reach all the major cities of India, this is our need in the coming days and our direction.

    Respected Mr Chairman,

    Delhi’s network has doubled and today the metro network is reaching tier-2 and tier-3 cities as well. Today we can all be proud that India’s metro network has crossed 1000 km and not only this, work is currently underway on another 1000 km. That means we are progressing so fast.

    Respected Mr Chairman,

    The Government of India has taken many initiatives to reduce pollution. We have started running 12 thousand electric buses in the country and have also done a great service to Delhi. We have given this to Delhi as well.

    Respected Mr Chairman,

    A new economy has always been expanding from time to time in our country. Today, the Gig Economy is developing as an important area in big cities. Lakhs of youth are joining it. We have said in this budget that labour! Such Gig workers should register themselves on the e-Shram portal and after verification, how can we help them in this new age service economy and they should get an ID card after coming on the e-Shram portal and we have said that these Gig workers will also be given the benefit of Ayushman Yojana so that Gig workers will  move in the right direction and it is estimated that today there are about one crore Gig workers in the country and we are also working in that direction.

    Respected Mr Chairman,

    The MSME sector brings a huge number of job opportunities and this is a sector that has immense employment potential. These small industries are a symbol of self-reliant India. Our MSME sector is making a huge contribution to the country’s economy. Our policy is clear, simplicity, convenience and support to MSMEs is a sector that has employment potential and this time we have emphasized on Mission Manufacturing and in a Mission Mode, we are moving forward by giving emphasis to the entire ecosystem of manufacturing sector i.e. giving strength to MSMEs and giving employment to many youth through MSMEs and preparing youth for employment through skill development. We have started working on many aspects to improve the MSMEs sector. The criteria for MSMEs was made in 2006, it was not updated. In the last 10 years, we have tried to upgrade this criteria twice and this time we have taken a very big jump. For the first time in 2020, for the second time in this budget, we have tried to promote MSMEs. They are being given financial assistance everywhere.

    The challenge before MSMEs has been the lack of formal financial resources. During the Covid crisis, MSMEs were given a special emphasis. We have given special emphasis to the toy industry. We gave special emphasis to the textile industry, did not let them face cash-flow shortage and gave loans without any guarantee. Possibilities of lakhs of jobs were created in thousands of industries and jobs were also secured. 

    For small industries, we took steps in the direction of Customised Credit Card, Credit Guarantee Coverage, due to which their Ease of Doing Business also got a boost and by reducing unnecessary rules, their administrative burden, they had to pay one or two people for work, that too was stopped. You will be happy to know that we have made new policies to promote MSMEs, there was a time before 2014, we used to import things like toys, today I can proudly say that the small toy-making industries of my country are exporting toys to the world today and there has been a huge decline in imports. There has been an increase of about 239 percent in exports. There are many sectors run by MSMEs that are making their mark across the world. Made in India clothes, electronics, electrical scouts’ goods are today becoming a part of the lives of other countries.

    Respected Mr Chairman,

    The country is moving ahead to fulfill the dream of a developed India and is moving ahead with great confidence. The dream of a developed India is not a government dream. It is the dream of 140 crore countrymen and now everyone has to give as much energy as they can to this dream and there are examples in the world, in a period of 20-25 years many countries of the world have shown that they have become developed, so India has immense potential. We have demography, democracy, demand, why can’t we do it? We have to move ahead with this confidence and we are also moving ahead with the dream that by 2047, when the country will become independent, it will be 100 years of independence and by then we will become a developed India.

    And Honorable Chairman,

    I say with confidence that we have to achieve bigger goals and we will achieve them and Honorable Speaker, this is only our third term. As per the requirement of the country, we are going to remain dedicated for many years to come to build a modern India, a capable India and to realize the resolution of a developed India.

    Respected Mr Chairman,

    I appeal to all the parties, I appeal to all the leaders, I appeal to the countrymen, everyone has their own political ideologies, their own political programs, but nothing can be bigger than the country. The country is paramount for all of us and together we will fulfill the dream of a developed India, the dream of 140 crore countrymen is also our dream where every sitting MP is working to fulfill the dream of a developed India.

    Respected Mr Chairman,

    While expressing my gratitude for the President’s speech, I also express my gratitude to you and the House. Thank you!

     

    DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: 3rd India-Japan Steel Dialogue Organized to Strengthen Bilateral Cooperation in the Steel Sector

    Source: Government of India

    Posted On: 05 FEB 2025 6:47PM by PIB Delhi

    The 3rd India-Japan Steel Dialogue was successfully held on February 4, 2025, at Vigyan Bhavan, New Delhi, jointly organized by the Ministry of Economy, Trade and Industry (METI), Japan, and the Ministry of Steel, India. The dialogue was co-chaired by Mr. Vinod Kumar Tripathi, Joint Secretary, Ministry of Steel, Government of India, and Mr. Hideyuki Urata, Deputy Director General, METI, Japan, leading the respective delegations from both nations.

    During the discussions, both sides exchanged insights on the current economic developments in India and Japan, an overview of the steel sector in both countries, the latest trends in the steel industry, the status of steel trade between the two countries, and the international steel market. The Indian delegation highlighted strategic initiatives by the Government of India to promote ease of doing business, sustained growth in steel demand driven by infrastructure investment, and concrete steps such as the release of the Green Steel Report and the Taxonomy of Green Steel. Additionally, India’s firm resolve to promote research and development in the sector, coupled with demographic advantages, presents significant opportunities for Japanese investors.

    The dialogue also provided a platform to share perspectives on key issues, including the European Union’s Carbon Border Adjustment Mechanism (EU CBAM), which has major implications for global steel trade.

    The Japanese side shared insights into current economic developments and advancements in the Japanese steel industry. They also provided updates on ongoing capacity-building programs and discussed other issues of mutual interest.

    A key highlight of the meeting was the review of progress and future for ongoing capacity-building initiatives aimed at enhancing technology collaboration and skill development. Both sides reaffirmed their commitment to deepening cooperation in areas of mutual interest and identifying pathways to further strengthen strategic relationships in the steel sector. The Japanese delegation assured continued support for investments in newer steel technologies in India. In turn, India reiterated its commitment to ensure ease of doing business for Japanese companies under the framework of the dialogue.

    The India-Japan Steel Dialogue serves as an institutional mechanism to enhance bilateral collaboration in steel production, product diversification, and workplace safety. This partnership is guided by the Memorandum of Cooperation (MoC) on the steel sector, signed between the two countries on December 22, 2020. The dialogue underscores the shared vision of India and Japan in fostering innovation, sustainable growth, and resilience in the steel industry.                                                

    ******

    TPJ/NJ

    (Release ID: 2100091) Visitor Counter : 43

    MIL OSI Asia Pacific News

  • MIL-OSI USA: CFTC Announces Prediction Markets Roundtable

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission will hold a public roundtable in approximately 45 days at the conclusion of its requests for information on certain sports-related event contracts. The goal of the roundtable is to develop a robust administrative record with studies, data, expert reports, and public input from a wide variety of stakeholder groups to inform the Commission’s approach to regulation and oversight of prediction markets, including sports-related event contracts. 
    The roundtable will be held in the Conference Center at the CFTC’s headquarters at Three Lafayette Centre, 1155 21st Street N.W., Washington, D.C. Further information on the roundtable will be released once details are finalized.
    “Unfortunately, the undue delay and anti-innovation policies of the past several years have severely restricted the CFTC’s ability to pivot to common-sense regulation of prediction markets,” said Acting Chairman Caroline D. Pham. “Despite my repeated dissents and other objections since 2022, the current Commission interpretations regarding event contracts are a sinkhole of legal uncertainty and an inappropriate constraint on the new Administration. Prediction markets are an important new frontier in harnessing the power of markets to assess sentiment to determine probabilities that can bring truth to the Information Age. The CFTC must break with its past hostility to innovation and take a forward-looking approach to the possibilities of the future. 
    “As the preeminent federal regulator mandated to oversee the $400 trillion notional derivatives markets that drive the real economy and safeguard the public interest, the CFTC is required to follow the rule of law and the Administrative Procedure Act to change course. This roundtable is a necessary first step in order to establish a holistic regulatory framework that will both foster thriving prediction markets and protect retail customers from binary options fraud such as deceptive and abusive marketing and sales practices. The CFTC appreciates the proactive engagement from market participants and looks forward to working together to support innovation while ensuring robust customer protection in our markets.”
    The CFTC has identified several key obstacles to balanced regulation of prediction markets: existing Commission orders issued to designated contract markets (DCMs) pursuant to regulation 40.11 and related Commission interpretations; Commission rulemakings on event contracts; federal circuit court of appeals and district court orders and opinions, including that “gaming involves games”; the CFTC’s legal arguments and litigating positions in several ongoing federal court cases; CFTC-registered entities’ legal arguments in court that event contracts based on games or sports contests or sporting events constitute “gaming” and are therefore prohibited under the Commodity Exchange Act; staff interpretations, other guidance, and current practices on event contracts; existing law and regulation applicable to DCMs and futures commission merchants (FCMs); CFTC examinations, enforcement actions, and investigations; and other issues including but not limited to Constitutional questions such as the Commerce Clause, States’ rights and State regulatory schemes, Federalism, Federal preemption doctrines, and First Nations’ sovereignty as well as other federal laws applicable to sports betting. 
    The roundtable will include the above topics, in addition to retail binary options fraud and customer protection, potential revisions to Part 38 and Part 40 of CFTC regulations to address prediction markets, and other improvements to the regulation of event contracts to facilitate innovation. Participants will include a wide variety of experts and stakeholders representing numerous and diverse interests in these issues. 
    Members of the public may provide feedback, suggestions, and requests to participate as panelists on the roundtable by February 21, 2025 via email to [email protected] with “Prediction Markets Roundtable” in the subject field.

    MIL OSI USA News

  • MIL-OSI USA: Governor Josh Stein Holds Workforce Development Roundtable Focusing on North Carolina Veterans

    Source: US State of North Carolina

    Headline: Governor Josh Stein Holds Workforce Development Roundtable Focusing on North Carolina Veterans

    Governor Josh Stein Holds Workforce Development Roundtable Focusing on North Carolina Veterans
    bwood

    Raleigh, NC

    Today, Governor Josh Stein joined leaders from the North Carolina Department of Commerce and Department of Military and Veterans Affairs to discuss strategies to support North Carolina workers, particularly veterans in the workplace. Governor Stein also toured Wilmington’s NCWorks site and discussed career resources available to jobseekers.  

    North Carolina’s economy has been ranked at the top for business in recent years, and as we keep growing, we must ensure that every corner of our state benefits from that growth,” said Governor Josh Stein. “I am impressed how NCWorks is connecting people to career opportunities, and I have directed the Departments of Commerce and Military and Veteran Affairs to continue their collaboration to ensure veterans can succeed. We have to do everything we can to support our veterans.”

    “The New Hanover NCWorks Career Center brings together our workforce assets to connect jobseekers and great employers,” said N.C. Department of Commerce Secretary Lee Lilley. “Transitioning veterans are great employees, and they can visit any NCWorks Career Center for help developing a new career and connecting with employers that recognize their skills and experience.”

    “North Carolina is home to more than 600,000 veterans, and all of them deserve meaningful employment opportunities as they enter the civilian workforce,” said NC Department of Military and Veterans Affairs Secretary Jocelyn Mitnaul Mallette. “At DMVA, we are committed to partnering with Governor Stein to explore meaningful ways to overcome the barriers our veterans face.”  

    North Carolina veterans facing barriers to employment can find tailored resources here.  

    Feb 5, 2025

    MIL OSI USA News

  • MIL-OSI Global: This Valentine’s Day, try loving-kindness meditation

    Source: The Conversation – USA – By Jeremy David Engels, Liberal Arts Endowed Professor of Communication, Penn State

    Love is one of the most diverse emotions, and it can be experienced in countless ways. fizkes/iStock via Getty Images Plus

    Most people love love, but not everyone loves Valentine’s Day.

    When it was first invented in the 1300s in medieval Europe, this holiday was a celebration of romantic love, the coming of spring and the freedom to choose a partner, rather than having one chosen for you.

    Today that ancient and optimistic message remains but is often buried under a pile of consumer goods – chocolates, cards, stuffed animals, plastic toys, expensive dinners and roses that cost so much more than you think.

    The archetypical image of this holiday is Cupid shooting a person with an arrow that makes them go mad with physical desire.

    Yet love is one of the richest and most diverse human emotions. There are many ways to experience love – so this holiday, as a scholar of mindfulness and communication, I encourage you to try out a practice of “metta,” or loving-kindness.

    What is loving-kindness?

    Loving-kindness, or metta, is the type of love praised and practiced by Buddhists around the world, and it is very different from romantic love. It is described as “limitless” and “unbounded” love.

    In the ancient Pali language, the word “metta” has two root meanings. The first is “gentle,” in the sense of a gentle spring rain that falls on young plants without discrimination. The second is “friend.” A metta friend is a true friend – someone who is always there for you without fail and without demanding anything in exchange, or someone who supports you when you’re in pain and who is happy for you when you’re happy, without a tinge of jealousy.

    Metta is a kind of love that is offered without any expectation of return. It is not reciprocal or conditional. It does not discriminate between us and them, or worthy and unworthy. To practice metta meditation is to give the rarest gift: a gift that does not demand a return.

    The Buddha describes how to practice this love in an early discourse called the “Karaniya Metta Sutta.”

    A group of monks approach the Buddha complaining about the spirits living in the forest causing nearby villagers to suffer. The Buddha advises against fighting or driving them away. Instead, he encourages practicing boundless love toward them, wishing them happiness, peace and ease.

    The monks do as recommended, practicing loving-kindness meditation for several weeks. Over time, noticing how happy the monks became, the spirits began to practice loving-kindness, too, because they also wanted to be happy. The practice changed the spirits’ behavior, and they stopped harassing the villagers.

    How to practice loving-kindness

    In the fifth century, a Sri Lankan monk named Buddhaghosa composed an important meditation text called the Visuddhimagga, or “The Path of Purification.” This text is sacred to Theravada Buddhists.

    Buddhaghosa provides instructions for how to practice loving-kindness meditation. Contemporary teachers adapt and modify these instructions. However, the general format of this meditation tends to be consistent.

    Loving-kindness meditation begins with a practice of mindfulness in order to calm the mind and body and to remember to come back to the now.

    A guided loving-kindness meditation practice.

    Next, this meditation involves softly reciting several traditional phrases and visualizing an audience who will receive loving-kindness as these words are spoken. The phrases are:

    • May I/you/they/we be filled by loving-kindness

    • May I/you/they/we be safe from inner and outer dangers.

    • May I/you/they/we be well in body and mind.

    • May I/you/they/we be at ease and happy.

    Traditionally, the meditation starts with yourself – the pronoun will be “I.” Then, the meditation involves picturing a beloved person – and it does not even have to be a person; it can be a pet or an animal – and directing loving-kindness to them. The pronoun in the meditation will change to “you.”

    After this, the meditation involves directing loving-kindness to a wider circle of friends and loved ones – the pronoun will change to “they.” Finally, the meditation involves gradually including more and more people in your well wishes: the folks in your community and town, people everywhere, animals and all living beings, and the whole Earth, and the pronoun will change to “we.”

    Many versions of this meditation invite practitioners to express metta for people who have caused them difficulty, including to someone seen to be an “opponent.”

    However, teachers including the Zen master, poet and peace activist Thich Nhat Hanh recommend practicing this type of metta meditation only once you are well established in directing loving-kindness at yourself and those you are close to.

    Why practice loving-kindness meditation?

    Clinical research shows that loving-kindness meditation has a positive effect on mental health. It could help lessen anxiety and depression, increase life satisfaction and improve self-acceptance; it could also reduce self-criticism.

    There is also evidence that loving-kindness meditation increases a sense of connection. Practicing loving-kindness could increase happiness while strengthening feelings of kinship with all living beings, a few of the benefits of metta meditation described by the Buddha in the Karaniya Metta Sutta.

    So if you’re feeling disconnected from others, ill at ease or just disenchanted with a holiday that has become overrun by capitalism on this Valentine’s Day, you might consider trying loving-kindness meditation.

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

    ref. This Valentine’s Day, try loving-kindness meditation – https://theconversation.com/this-valentines-day-try-loving-kindness-meditation-246001

    MIL OSI – Global Reports

  • MIL-OSI Video: Palestinians, Occupied Palestinian Territory, Gaza & other topics – Daily Press Briefing

    Source: United Nations (Video News)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    – Palestinians
    – Occupied Palestinian Territory
    – Gaza
    – Democratic Republic of the Congo
    – Sudan
    – South Sudan
    – Sweden
    – Aga Khan
    – Iraq
    – Senior Appointment
    – Financial Contribution
    – Guest

    PALESTINIANS
    This afternoon, the Secretary-General has a scheduled appearance at the Committee on the Exercise of the Inalienable Rights of the Palestinian People. In his remarks, he will tell the committee, following the agreement that has been in effect, that we must keep pushing for a permanent ceasefire and the release of all hostages without delay. We cannot go back to more death and destruction.
    In speaking to the broader situation, the Secretary-General will say that in the search for solutions we must not make the problems worse. It is vital to stay true to the bedrock of international law. It is essential to avoid any form of ethnic cleansing and, of course, he will reaffirm the two-state solution. And you can follow those remarks on UN WebTV starting at 3 p.m.

    OCCUPIED PALESTINIAN TERRITORY
    Our Under-Secretary-General for Humanitarian Affairs, Tom Fletcher, is continuing his visit to Israel and the Occupied Palestinian Territory. On the political level, Mr. Fletcher held discussions over the past two days with Israeli authorities, including President Isaac Herzog, as well as officials from the Coordinator of Government Activities in the Territories (COGAT) and the Ministry of Foreign Affairs.
    Mr. Fletcher described these engagements as practical, emphasizing the need to build on the progress since the ceasefire and sustain the large-scale delivery of UN aid into Gaza. On the ground, Mr. Fletcher visited today different areas of the West Bank.
    In East Jerusalem, he visited Silwan neighbourhood where he met with residents facing home demolitions and the threat of forcible eviction by Israeli authorities.
    Mr. Fletcher also toured what is known as Area C of the Ramallah governorate, where he heard and saw the humanitarian impact of access restrictions on the livelihoods of Palestinian and their daily lives. These restrictions include Israeli checkpoints and of course the 712-kilometre-long barrier.
    And just a short while ago in Ramallah, Mr. Fletcher held discussions with national Palestinian NGOs, who are at the heart of humanitarian response efforts across the Occupied Palestinian Territory.

    GAZA
    In Gaza, our humanitarian colleagues report that our aid operations – together with our partners – continue to scale up across the Gaza Strip. We are also carrying out assessments to determine the needs of impacted and displaced families, particularly the most vulnerable.
    Across Gaza, 22 bakeries supported by the World Food Programme are now operational. And our health partners continue to provide health services as well. We and our partners estimate that more than half a million displaced Palestinians have now returned to the governorates of both Gaza and North Gaza, where there is an urgent need for tents and shelter materials. Our partners say they’ve transported 22 truckloads of tents from southern to northern Gaza yesterday to address these needs but we need to get more tents in.
    For its part, UNICEF continues to distribute nutrition support for infants. Across Gaza, the World Food Programme has provided lipid-based nutrient supplements to more than 80,000 children and pregnant or breastfeeding women since the ceasefire took effect. Humanitarian partners have screened more than 30,000 children under the age of five for malnutrition since the ceasefire took effect. Of those children under five screened, over 1,000 cases of acute malnutrition have been identified, including 230 cases of severe acute malnutrition.
    And to sustain learning activities across the Gaza Strip, education partners established three new temporary learning spaces yesterday in Gaza, Rafah, and Khan Younis governorates, benefiting some 200 children.

    Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=05%20February%202025

    https://www.youtube.com/watch?v=ocNAfzKmNWk

    MIL OSI Video

  • MIL-OSI USA: Bowman, Bank Regulation in 2025 and Beyond

    Source: US State of New York Federal Reserve

    Thank you for the invitation to speak to you today.1 It is a pleasure to be with you. I always enjoy the opportunity to meet bankers from across the country to learn about the issues that are important to you. Recently, I have observed a shift in tone when I talk to bankers about the bank regulatory environment. Bankers are cautiously optimistic that we will see meaningful reform that right-sizes regulation and supervisory approach, reforms that—if executed appropriately—should help the banking system promote economic growth in a safe and sound manner. Today, I will share my views on a number of issues related to banking regulation and supervision, including the importance of tailoring, having a problem-focused approach to bank regulation and supervision, and the imperative of innovation in the banking system.
    One of the unique characteristics of the U.S. banking system is the broad scope of institutions it includes and the wide range of customers and communities it serves. Given this wide variety of institutions, regulators must strive to foster a financial system that enables each and every bank, no matter its size, to thrive, supporting a vibrant economy and financial system. We must also be sensitive to emerging issues and trends that require attention, whether that be unintended consequences from capital requirements, the incentives created by our approach to regulatory applications, and to ensure legal compliance.
    TailoringThe approach to regulation and supervision should promote a healthy and vibrant banking system. One key element of a regulatory approach that does so, and one that I often highlight, is the use of “tailoring” in the regulatory framework. For those familiar with my philosophy on bank regulation and supervision, my interest and focus on tailoring will come as no surprise.2 In its most basic form, it is difficult to disagree with the virtue of regulatory and supervisory tailoring—calibrating the requirements and expectations imposed on a firm based on its size, business model, risk profile, and complexity—as a reasonable, appropriate, and responsible approach for bank regulation and supervision. In fact, tailoring is embedded in the statutory fabric of the Federal Reserve’s bank regulatory responsibilities.3
    The bank regulatory framework inherently includes significant costs—both the cost of operating the banking agencies and the cost to the banking industry of complying with regulations, the examination process, and supplying information to regulators both through formal information collections and through one-off requests. In the aggregate, these costs can ultimately affect the price and availability of credit, geographic access to banking services, and the broader economy. The cost of this framework—both to regulators and to the industry—reflects layers of policy decisions over many years. But this framework could be more effective in balancing the mandate to promote safety and soundness with the need to have a banking system that promotes economic growth.
    Let’s consider costs. As regulatory and supervisory demands grow, there is often parallel growth in the staff and budgets of the banking agencies. We should not only be cognizant of these costs, but we should act in a way that requires efficiency while ensuring safety and soundness. Some degree of elasticity in regulator capacity is necessary to respond to evolving economic and banking conditions, as well as emerging risks, but there must be reasonable constraints on banking agency growth. Expansion of the regulatory framework is not a cost-free endeavor. These costs are shouldered by taxpayers, banks, and, ultimately, bank customers.
    The bank regulatory framework has great potential to provide significant benefits, including supporting an innovative banking system that enhances trust and confidence in our institutions and promotes safety and soundness. When we consider the benefits and the costs, we can institute greater efficiencies in both banking regulation and in the banking industry itself. The framework is complex, and the various elements of this framework are intended to work in a complementary way. As banks evolve—by growing larger or by engaging in new activities—tailoring can help us to quickly recalibrate requirements in light of the new risks posed by the firm.
    But the regulatory framework, especially how supervisors prioritize its application to the banking industry, can pose a serious threat to a bank’s viability. For example, imposing the same regulatory requirements on banks with assets of $2 billion to $2 trillion under the new rules implementing the Community Reinvestment Act demonstrated a missed opportunity to promote greater effectiveness and efficiency.4 I question the wisdom of applying the same evaluation standards to banks within such a broad range.
    Likewise, supervisory guidance can provide fertile ground to differentiate supervisory expectations under a more tailored approach. While supervisory guidance is not binding on banks as a legal matter, it can signal how regulators think about particular risks and activities, and often drives community banks to reallocate resources in a way that may not be necessary or appropriate. The Fed’s guidance on third-party risk management is an example of this. Originally, this guidance was published in a way that applied to all banks, including community banks. Yet it was acknowledged even at the time of publication that it had known shortcomings, particularly in terms of its administration and lack of clarity for community banks.5
    Tailoring is important for all banks, but it is particularly important for community banks. There are real costs not only to banks, but to communities, when the framework is insufficiently tailored, as community banks faced with excessive regulatory burdens may be forced to raise prices or seek to merge or be acquired. These banks often reach unbanked or underbanked corners of the U.S. economy, not only in terms of the customers they serve but also in terms of their geographic footprint. We are all familiar with banking deserts and the challenges many legitimate and law-abiding businesses and consumers have in accessing basic banking services and credit. It is difficult to imagine that a system with far fewer banks would as effectively serve U.S. banking and credit needs and sufficiently support economic growth.
    It is imperative that we keep the benefits of tailoring in focus as the bank regulatory framework evolves. A tailored regulatory and supervisory approach can help inform our policies on a wide range of industry issues that are likely to emerge in the coming years.
    Problem-Based SolutionsOne of the most difficult challenges on the regulatory front is prioritization, both for banks managing their businesses and for regulators deciding how to fulfill their responsibilities. At a basic level, the role of regulators is dictated by statute. Congress granted the Federal Reserve and other banking agencies broad statutory powers but has constrained how those powers may be directed through the use of statutory mandates, including to promote a safe and sound banking system, and broader U.S. financial stability. In the execution of these responsibilities, the Federal Reserve must also balance the need to act in a way that enables the banking system to serve the U.S. economy and promote economic growth. While these objectives are not incompatible, they do require us to consider tradeoffs when establishing policy.
    How can regulators best meet these responsibilities? As many of you may already know, I strongly believe in a pragmatic approach to policymaking.6 This requires us to identify the problem we are trying to solve, determine whether we are the appropriate regulator to address the problem based on our statutory mandates and authorities, and explore options for addressing the identified issue.
    This approach of pragmatic problem-solving also applies to supervision, where process improvements could improve functioning. The Federal Reserve exercises its supervisory responsibilities by supervisory portfolio, with each portfolio relying on a combination of Board and Reserve Bank staff.7 It is important that responsibility for supervisory decisions be paired with accountability for such decisions, which can be complicated depending on the different roles played by Board and Reserve Bank staffs, and as institutions change supervisory portfolios. The misalignment of responsibility and accountability detracts from effective supervision.
    Our supervisory program should require strong examiner training, rely on examiner expertise in the conduct of examinations, and work in partnership with state bank supervisors. Doing so will allow us to leverage the practical experience and judgment of examination staff—characteristics that are necessary for effective supervision—while preserving the role of the Board to delegate and provide Reserve Bank oversight. Examinations cannot be just a box-checking exercise. We must rely on well-trained and experienced examiners empowered to exercise independent judgment and ask questions, which leads to stronger and more effective supervision.
    As we look at the banking system, including the regulatory framework, we must focus on those issues that are most important to advancing statutory priorities. There is always the risk of misidentification and mis-prioritization, and that we fail to take appropriately robust action on key issues or focus on issues that are less material to a bank’s safety and soundness. Our goal should be to develop a better filter to promote appropriate and effective prioritization.
    Treasury market functioningWhere regulation may create or exacerbate financial stability risks, we need to take a close look at whether those risks are justified by the safety and soundness benefits of the regulation. The erosion of liquidity in U.S. Treasury markets provides a good example of unintended consequences and the need to evaluate tradeoffs in regulation. This issue is a byproduct of several important dynamics: (1) the role of large banks in the intermediation of U.S. Treasury markets, (2) the growth of “safe” assets in the banking system, and (3) the increase in leverage-based capital requirements becoming the binding capital constraint on some large banks. While regulators may not have tools to address all of these dynamics, clearly the adverse impact of leverage-based capital requirements falls within the banking regulators’ scope of responsibility.
    Issues with Treasury market functioning have been known for quite some time. We have seen a persistent trend of low liquidity in U.S. Treasury markets for several years, which has been noted in the Board’s semiannual Financial Stability Report.8 Low liquidity can create more volatility in prices, exacerbate the effects of market shocks, and can threaten market functioning. Treasury market functioning and liquidity will likely be affected by the Securities and Exchange Commission’s central clearing requirement for U.S. Treasuries, which may improve market functioning. In addition, the Federal Reserve’s Standing Repo Facility may also help to promote smooth functioning in the Treasury market. But there is uncertainty regarding how the volume of Treasury securities issued and outstanding, and changes to the Fed’s balance sheet over time, may affect this.
    We have seen Treasury markets experience stress events as recently as the September 2019 repo market stress, and the so-called “dash for cash” in March of 2020. Both of these events raised concerns about the resiliency of U.S. Treasury markets. Therefore, we should continue to actively monitor indicators of market function, particularly whether Treasury market functioning improves over time, thereby enabling it to withstand future shocks.
    The banking regulators are uniquely positioned to not only analyze but also remediate components of the bank regulatory framework that may exacerbate Treasury market illiquidity. Large bank-affiliated primary dealers play an important role in the intermediation of U.S. Treasury markets. These dealers are not immune or insulated from the effect of banking regulation. While many factors can affect market liquidity, including interest rate volatility and Treasury market saturation, we must consider whether some of the pressure is a byproduct of bank regulation.
    The Federal Reserve has previously intervened to address market stress and support Treasury market functioning, for example, by temporarily excluding Fed reserves and Treasuries from the denominator of the supplemental leverage ratio (SLR).9 Treasury markets play a critical role in the U.S. and global financial systems, and we should take action to address the unintended consequences of bank regulation, while ensuring the framework continues to promote safety, soundness, and financial stability.10
    Leverage ratios do not differentiate between the risk of certain asset classes or exposures, and therefore appropriately operate as a backstop to risk-based capital requirements. However, in periods of banks’ balance sheet expansion—as during COVID-19 when we saw significant deposit inflows—leverage ratios can become the binding constraint on banks and their affiliates, increasing the amount of required capital based on increased balance sheet size regardless of risk. When constrained in this way, bank-affiliated primary dealers may pull back on market intermediation activities.
    Where we can take proactive regulatory measures to ensure that primary dealers have adequate balance sheet capacity to intermediate Treasury markets, we should do so. This could include amending the leverage ratio and G-SIB surcharge regulations for the largest U.S. banks. Adopting regulatory changes to mitigate these concerns may not be sufficient to ensure market liquidity, but it would be an important step toward building resiliency in advance of future stress events. In my view, it would be better to fix the roof now, while the sun is shining, by addressing over-calibrated leverage ratio requirements, and considering the unintended consequences of any future capital reforms.
    Stress testingI will now turn to another area that the Board has already identified as a priority for review—stress testing. Stress testing can be an important supervisory tool, but its implementation, outcomes and process have raised significant questions and concerns about whether it is useful in identifying systemic weaknesses. In its current structure, it is an opaque test hidden from public scrutiny that is used to establish variable binding capital requirements on large banks. Our review should consider whether it is transparent and fair, and whether there are technical improvements that could enhance the reliability and credibility of the test and its results.11
    In its current form, stress testing is likely deficient on each of these fronts. Transparency promotes fairness, as regulated entities and the public can better understand why and how our actions further our goals. When we identify areas that suffer from a lack of transparency, we should act promptly to address those concerns. On December 23 of last year, the Fed announced that it would soon seek public comment on “significant changes” to the stress testing process designed to improve transparency of the tests and reduce volatility of the resulting stress capital buffers that apply to large financial institutions.12 Given my longstanding support for revisiting the stress testing framework to promote transparency and reduce volatility, I am pleased with this development.13
    FraudFinally, I would like to address the problem of fraud, particularly check fraud, which has grown in frequency and impact over the past several years. Fraud continues to harm banks, damaging the perceived safety of the banking system, and importantly hurting consumers who are the victims of fraudulent activity. Sometimes fraudsters target vulnerable populations, like the elderly, who are particularly susceptible to certain forms of fraud.
    As I have noted in the past, efforts by regulators have been frustratingly slow to advance, and seem to have done little to address the underlying root causes of this increase in fraud. Why has this important issue failed to garner greater attention from all of the appropriate regulatory and law enforcement bodies? Different governmental agencies may share an important role in addressing this problem, but the need for a joint and coordinated solution does not excuse collective inaction.
    Fraud is perhaps the most consistent issue raised when I speak with bankers. Often the concerns note frustrations with the tools available to fight fraud and frictions dealing with counterparties in investigating and addressing fraud. The costs of prevention, detection, and remediation can also be substantial, but so can the costs of navigating these issues dealing with affected bank customers. We are overdue for more assertive action to protect bank customers and the financial system.
    The Innovation ImperativeInnovation has always been a priority for banks of all sizes and business models. Banks in the U.S. have a long history of developing and implementing new technologies, and innovation has the potential to make the banking and payment systems faster and more efficient, to bring new products and services to customers, and even to enhance safety and soundness.
    Regulators must be open to innovation in the banking system. Our goal should be to build and support a clear and sensible regulatory framework that anticipates ongoing and evolving innovation—one that allows the private sector to innovate while also maintaining appropriate safeguards. We must promote innovation through transparency and open communication, including demonstrating a willingness to engage during the development process. Financial institutions should know what activities are permitted, and the supervisory and regulatory expectations that will accompany their activities. By providing clarity and consistency, we can encourage long-term business investment, while also continuing to support today’s products and services. A clear regulatory framework would also empower supervisors to focus on safety and soundness, ensuring a safe and efficient banking and payment system.
    Absent clearer rules of the road, we run the risk of reducing the availability of banking services. Bank regulatory policy should address the needs of the unbanked and expand the availability of banking services. It should not be used to limit or exclude access to banking services for legitimate customers and businesses in a way that is meant to further unrelated policy goals, sometimes referred to as “de-banking” or bank “de-risking.” Credit decisions should not be dictated by banking regulations or supervisory messages. Ultimately, bankers are and should be responsible for their own credit allocation decisions.
    Regulators must change approaches that have resulted in credit allocation decisions, research how banks are making decisions related to which customers they serve, and promote an environment that allows legitimate bank customers to obtain banking services.
    New technologies and services often require novel regulatory and supervisory approaches, and we recognize that past approaches will likely not be effective. Often regulators take a “more is better” approach to regulation and guidance. Over the past several years, the banking industry has faced an onslaught of proposed and final regulations and guidance, materials that require a significant time commitment to review, to comment on, and to implement. Many times, these require changes to policies and procedures or risk-management practices.
    Fundamentally though, this “more is better” approach fails to address the core criticisms, including both an overall lack of transparency, and the perception (and perhaps reality?) that regulators have been overly hostile to innovation, including banks’ involvement in any capacity with digital assets, the use of artificial intelligence, and the availability of new technologies and providers to access the payment system.
    As a banker, state bank commissioner, and as a Board member, I have made the case for a more open-minded approach to innovation, including by co-hosting an informational event for bankers together with three other bank commissioners on distributed ledger technology and banking innovation just prior to joining the Board.14 We must prioritize understanding the risks and benefits of new technologies before developing a supervisory posture, especially when applying rules and using the “soft” power of supervision to discourage its use. Instead, we must create a supervisory and regulatory environment that facilitates reasonable and supportive approaches. The natural posture of a regulator may be to emphasize safety and soundness above all other objectives, but doing so will ultimately stifle innovation and threaten the long-term health and utility of the banking system.
    Closing ThoughtsThank you for the opportunity to speak with you today. The financial system is constantly evolving, and our regulatory approach must anticipate this evolution. We must return to a regulatory approach that emphasizes appropriate tailoring of regulatory requirements and supervisory expectations and take a pragmatic approach in identifying and remediating the most pressing issues. And we must encourage ongoing innovation in the banking and financial systems.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. Return to text
    2. See, e.g., Michelle W. Bowman, “Tailoring, Fidelity to the Rule of Law, and Unintended Consequences (PDF)” (speech at the Harvard Law School Faculty Club, Cambridge, MA, March 5, 2024). Return to text
    3. See, Economic Growth, Regulatory Relief, and Consumer Protection Act, Pub. L. No. 115-174, § 401(a)(1) (amending 12 U.S.C. § 5365), 132 Stat. 1296 (2018). Return to text
    4. See dissenting statement, “Statement on the Community Reinvestment Act Final Rule by Governor Michelle W. Bowman,” news release, October 24, 2023. Return to text
    5. See “Statement on Third Party Risk Management Guidance by Governor Michelle W. Bowman,” news release, June 6, 2023. Return to text
    6. Michelle W. Bowman, “Approaching Policymaking Pragmatically (PDF)” (remarks to the Forum Club of the Palm Beaches, West Palm Beach, FL, November 20, 2024). Return to text
    7. Board of Governors of the Federal Reserve System, “Understanding Federal Reserve Supervision” (“What is the difference between what examiners do at Reserve Banks and staff do at the Board? Supervision is a function of the Board, with Reserve Banks conducting supervision under the Board’s delegated authority. The Board and Reserve Bank staff both play a critical role in carrying out the function of supervision, but the role varies by the supervisory group in which a bank is designated. LISCC supervision is run by the Board, with examiners employed by the Board and the Reserve Banks. For all other programs, examinations are conducted by Reserve Bank staff, with involvement of Board staff on horizontal exercises and key decisions. For banks in supervisory groups other than LISCC, Board staff set expectations for how Reserve Bank staff conduct examinations and, in turn, conduct oversight of Reserve Bank supervision to determine how well supervision is executed.”). Return to text
    8. See Board of Governors of the Federal Reserve System, Financial Stability Report (PDF) (Washington, DC, November 2024), 10-11. Return to text
    9. See, e.g., Temporary Exclusion of U.S. Treasury Securities and Deposits at Federal Reserve Banks from the Supplementary Leverage Ratio (PDF), 85 Fed. Reg. 20,578, 20,579 (April 14, 2020). Return to text
    10. See Financial Stability Report, 10–11. Board of Governors of the Federal Reserve System, “Federal Reserve Board Announces that the Temporary Change to Its Supplementary Leverage Ratio (SLR) for Bank Holding Companies Will Expire as Scheduled on March 31,” news release, March 19, 2021, (noting that the Board would seek comment on changes to the SLR). Return to text
    11. Michelle W. Bowman, “The Future of Stress Testing and the Stress Capital Buffer Framework (PDF)” (speech at the Executive Council of the Banking Law Section of the Federal Bar Association, Washington, DC, September 10, 2024). Return to text
    12. Board of Governors of the Federal Reserve System, “Due to Evolving Legal Landscape & Changes in the Framework of Administrative Law, Federal Reserve Board Will Soon Seek Public Comment on Significant Changes to Improve Transparency of Bank Stress Tests & Reduce Volatility of Resulting Capital Requirements,” news release, December 23, 2024. Return to text
    13. Bowman, “The Future of Stress Testing.” Return to text
    14. See, e.g., Michelle W. Bowman, “Innovation and the Evolving Financial Landscape (PDF)” (remarks at the Digital Chamber DC Blockchain Summit 2024, Washington, DC, May 15, 2024). Return to text

    MIL OSI USA News

  • MIL-OSI Security: U.S. Army Major Sentenced to 70 Months for Smuggling Firearms to Ghana

    Source: Office of United States Attorneys

    RALEIGH, N.C. – Kojo Owuso Dartey, age 42, of Fort Liberty, was sentenced to 70 months  in prison and three years of supervised release for false statements made to an agency of the United States, false declarations before the court, conspiracy, dealing in firearms without a license, delivering firearms without notice to the carrier, smuggling goods from the United States, and illegally exporting firearms without a license.  On April 23, 2024, Dartey was found guilty by a jury after trial.

    According to court records and evidence presented at trial, Kojo Owusu Dartey, 42, provided a tip that resulted in a 16-defendant marriage fraud scheme between soldiers on Fort Liberty and foreign nationals from Ghana.  In preparation for and at the trial of U.S. v. Agyapong held between June 28 and July 2, 2021, Dartey lied to federal law enforcement about his sexual relationship with a defense witness and lied on the stand and under oath about the relationship.  During that trial, Dartey purchased seven firearms in the Fort Liberty area and tasked a U.S. Army Staff Sergeant at Fort Campbell, Kentucky, to purchase three firearms there and send them to Dartey in North Carolina.  Dartey then hid all the firearms inside blue barrels underneath rice and household goods and with assistance from an Army Chief Warrant Officer smuggled the barrels out of the Port of Baltimore, Maryland, on a container ship to the Port of Tema in Ghana.  The Ghana Revenue Authority recovered the firearms and reported the seizure to the DEA attaché in Ghana and the ATF Baltimore Field Division.

    Daniel Bubar, Acting U.S. Attorney for the Eastern District of North Carolina, made the announcement after sentencing by Chief U.S. District Judge Richard E. Myers II. The Bureau of Tobacco, Alcohol and Firearms (ATF), Army Criminal Investigation Division (CID), and the U.S. Department of Commerce’s Office of Export Enforcement investigated the case. Assistant U.S. Attorney Gabriel J. Diaz prosecuted the case.

    Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No.5:23-cr-00165-M-RJ-1.

    MIL Security OSI

  • MIL-OSI USA: Wyden, Merkley Demand Answers and Actions from Feds as Many Head Start Programs in Oregon and Nationwide Still Face Funding Disruptions

    US Senate News:

    Source: United States Senator Ron Wyden (D-Ore)
    February 05, 2025
    Washington, D.C. — U.S. Senators Ron Wyden and Jeff Merkley said today they are joining colleagues to demand answers and action from the Trump administration about the acute financial impacts and lingering uncertainty faced by Head Start programs in Oregon and nationwide following the Office of Management and Budget’s memo that froze funding government-wide, and as many Head Start programs continue to be locked out of their funding.
    The letter signed by Wyden, ranking member of the Senate Finance Committee, and Merkley, ranking member of the Senate Budget Committee, went to Acting Secretary of Health and Human Services Dorothy A. Fink, M.D. and Acting Director of the Office of Head Start Captain Tala Hooban.
    “Head Start programs cannot pay their teachers and staff and continue normal operations without the assurances of payment processing and notices of grant renewals and awards,” wrote the senators. “This will impact children, families, and communities across the country, particularly the rural communities where these programs represent a large share of the child care options.”
    While the White House later clarified that Head Start would not be targeted by the funding freeze and the OMB later rescinded its memo, Head Start programs temporarily could not access the Payment Management System to use their allocated federal funds, with many still facing disruptions. As a result, Head Start programs nationwide have not had funding disbursed in a timely manner – imperiling their ability to pay staff and keep educational and child care programs up and running.
    “Even if this issue extends beyond the Office of Head Start, we urge you to do everything in your power to ensure these programs receive transparent and frequent communication on the progress of their funds being released. Head Start programs operate on razor-thin margins and cannot survive without timely intervention. Children, families, employees, and educators all depend on these critical federal funds,” the senators continued.
    In addition to Wyden and Merkley, Senator Tim Kaine, D-Va., led lawmakers in the letter, which was signed by U.S. Senators Lisa Blunt Rochester, D-Del., Tina Smith, D-Minn., Mark R. Warner, D-Va., Jack Reed, D-R.I., Charles E. Schumer, D-N.Y., Bernard Sanders, I-Vt., Elizabeth Warren, D-Mass., Edward J. Markey, D-Mass., Ben Ray Luján, D-N.M., Dick Durbin, D-Ill., Alex Padilla, D-Calif., Amy Klobuchar, D-Minn., Catherine Cortez Masto D-Nev., Richard Blumenthal, D-Conn., Peter Welch, D-V.t., Mark Kelly, D-Ariz., Jeanne Shaheen, D-N.H., Jacky Rosen, D-Nev., Ruben Gallego, D-Ariz., Chris Van Hollen, D-Md., Raphael Warnock, D-Ga., Elissa Slotkin, D-Mich., Cory Booker, D-N.J., Mazie Hirono, D-Hawai’i., Angela Alsobrooks, D-M.d., and Andy Kim, D-N.J.
    The letter text is here.

    MIL OSI USA News

  • MIL-OSI USA: Ahead of Hearing, Warren Pushes Trump Trade Representative on Tariff Policy

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    February 05, 2025

    Warren Questions Greer on Trade Agenda, Tariff Exemptions for Trump’s Allies and Special Interests

    “Tariffs are an important strategic economic tool, but Donald Trump’s desire to start and stop random trade wars will not protect jobs, keep Americans safe, or bring down costs for families.”

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs (BHUA) and member of the Senate Finance Committee, wrote to Jamieson Greer, nominee to be U.S. Trade Representative (USTR), ahead of his February 6, 2025 confirmation hearing, probing his views on trade. Senator Warren asked Mr. Greer to address her concerns with the administration’s tariff strategy, corporate influence over trade agreements, corporations offshoring of jobs, and other trade-related concerns. 

    The USTR is responsible for developing and promoting the U.S. trade agenda and leading trade negotiations on behalf of the U.S., playing a critical role in the economy. This week, the Trump administration announced new tariffs on Canada, Mexico, and China. During the last Trump administration, corporations and their lobbyists abused tariff exclusion loopholes to receive secretive exemptions from President Trump and his trade team. The Commerce Department’s Inspector General found that the process for receiving an exemption was “neither transparent nor objective.”

    “(T)he President does not appear to have a strategic plan in place to ensure that his proposed tariffs are implemented in a way that secures wins for hardworking Americans and precludes carveouts for special interests,” wrote Senator Warren. “Instead, he has threatened, and withdrawn tariff threats in a chaotic and haphazard manner that has only resulted in uncertainty for American consumers, workers, and manufacturers, as well as our allies.”

    Large multinational companies have also gained outsized influence in trade negotiations and trade disputes. For decades, membership of the trade advisory committee has leaned heavily in favor of billionaire corporations and their industry associations, and Investor-State Dispute Settlement (ISDS) provisions have allowed corporations to sue governments—including the United States—for pursuing public policies they may disagree with. Senator Warren encouraged Mr. Greer to pursue the removal of ISDS provisions from trade agreements with U.S. allies. 

    Senator Warren also wrote that she believes large corporations have too many incentives to move jobs and manufacturing abroad. “In order to reverse the negative effects offshoring has had on the American economy, the Administration must invest in domestic industry and eliminate incentives for corporations to hide their profits abroad,” the senator wrote

    Senator Warren also expressed support for the Trade Adjustment Assistance (TAA) program to help American workers whose jobs are displaced by trade. “Renewing TAA is a no-brainer, and I hope you will support it to make sure that workers at home get a fair deal,” said Senator Warren.

    In order to better understand Mr. Greer’s approach to trade, Senator Warren asked him to prepare to answer questions on his vision for the Trump administration’s trade agenda on February 6, 2025, the date of his confirmation hearing. 

    MIL OSI USA News

  • MIL-OSI: Northeast Bank Announces Dates for Fiscal 2025 Second Quarter Earnings Results and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Maine, Feb. 05, 2025 (GLOBE NEWSWIRE) — Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, announced today it will release its fiscal 2025 second quarter earnings results on Thursday, February 6, 2025. Following the release, the Bank will host a conference call with a simultaneous webcast at 10:00 a.m. ET on Friday, February 7, 2025. The conference call will be hosted by Rick Wayne, President and Chief Executive Officer, Richard Cohen, Chief Financial Officer, and Pat Dignan, Chief Operating Officer.

    To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available via a live webcast, which can be viewed by accessing the Bank’s website at www.northeastbank.com and clicking on the Investor Relations section. To listen to the webcast, attendees are encouraged to visit the website at least 15 minutes prior to the start of the call to register, download and install any necessary audio software. Please note there is a slide presentation that will accompany the webcast. For those who cannot listen to the live broadcast, a replay will be available online for one year at www.northeastbank.com.

    About Northeast Bank

    Northeast Bank (NASDAQ: NBN) is a full-service bank headquartered in Portland, Maine. We offer personal and business banking services to the Maine market via seven branches. Our National Lending Division purchases and originates commercial loans on a nationwide basis. ableBanking, a division of Northeast Bank, offers online savings products to consumers nationwide. Information regarding Northeast Bank can be found at www.northeastbank.com.

    NBN-F

    For More Information:
    Richard Cohen, Chief Financial Officer
    Northeast Bank
    27 Pearl Street, Portland, ME 04101
    207.786.3245 ext. 3249
    www.northeastbank.com

    The MIL Network

  • MIL-Evening Report: Mark Zuckerberg wants business to ‘man up’, but what it really needs is more women entrepreneurs

    Source: The Conversation (Au and NZ) – By Rod McNaughton, Professor of Entrepreneurship, University of Auckland, Waipapa Taumata Rau

    Sergey Nivens/Getty Images

    By claiming workplaces need to “man up”, Meta CEO Mark Zuckerberg is ignoring one of the biggest untapped opportunities for economic growth – women entrepreneurs.

    A 2024 study found promoting female entrepreneurship can greatly enhance women’s workforce participation and drive significant economic growth. And in 2015, the McKinsey Global Institute found advancing women’s workforce equality could add US$12 trillion to global growth.

    Yet, women remain significantly underrepresented as startup founders, particularly in high-growth industries.

    According to Startup Genome, which analyses global startup ecosystems, just 26% of founders in New Zealand are women (still one of the higher rates globally). But only about 4% of Australia’s venture capital investment goes to startups founded solely by women, and about 7% in New Zealand.

    Encouraging women to develop entrepreneurial mindsets could help address both countries’ stagnating productivity. So what stops women from pursuing this path?

    Our latest research explores why fewer women undergraduate students at the University of Auckland pursue entrepreneurship and how universities can help close the gap.

    Lagging behind

    We used data from the 2021 Global University Entrepreneurial Spirit Students’ Survey (GUESSS) of more than 267,000 students in 57 countries to assess the gender gap. Among them, 1,050 were undergraduate students from the University of Auckland.

    During the early stages of their undergraduate degrees, male and female students at the university showed similar interest in founding a business at the beginning of their careers – 8% versus 6%. However, both genders significantly lagged behind the 21% and 15% global averages.

    Asked about what they hope to be doing five years later, 28% of men and 18% of women at the University of Auckland said they wished to run their own business. While interest in entrepreneurship increases, the gender gap widens. And both genders still lagged the global averages of 37% for men and 30% for women.

    While university experience influences career ambitions, external factors after graduation can also discourage women from entrepreneurship.

    Societal expectations, industry norms, and lack of access to funding all play a role. Confidence is also a factor. In the survey, women reported lower confidence in their ability to start a business.

    Recent global research has found female entrepreneurship can greatly enhance women’s workforce participation, but women are still lagging behind men when it comes to founding businesses.
    loreanto/Shutterstocl

    The link between STEM and entrepreneurship

    The subjects students choose to study also shape their exposure to entrepreneurship.

    Women at the University of Auckland are underrepresented in STEM (science, technology, engineering and mathematics) and business disciplines.

    This matters because these fields of study are associated with higher interest in business formation. Students in business and STEM programmes are more likely to encounter entrepreneurial concepts, role models and develop relevant industry networks.

    Without efforts to introduce entrepreneurship into a broader range of disciplines, many women may miss out on these vital opportunities and networks.

    Closing the gender gap

    Female participation in the University of Auckland’s Centre for Innovation and Entrepreneurship (CIE) programmes has increased from 23% in 2015 to 44% in 2024. Last year, two of the centre’s alumni were named Cartier Women’s Initiative Fellows.

    Yet our research shows women still enrol in entrepreneurship courses and extracurricular activities less often than men. These experiences matter. Women who engage in them are more likely to see themselves as future entrepreneurs.

    To close the gap, universities must embed entrepreneurship across disciplines. In addition to STEM and business students, those in health, law and social sciences can also benefit from early exposure to entrepreneurial thinking. Tailored programs that show how entrepreneurship applies in these fields can make a difference.

    Role models and mentorship are also essential. Women students need to see successful female entrepreneurs to believe they can follow the same path. Universities should actively recruit women founders as speakers, mentors, and industry partners.

    Hands-on experience is a game-changer. Universities must ensure their startup incubators, pitch competitions and funding programs are accessible to female students. Special funding streams for women-led ventures can help level the playing field.

    Finally, the way entrepreneurship is framed matters.

    Many women are drawn to careers that create social impact. Universities should highlight how startups can drive change in sustainability, healthcare and community development. A broader definition of entrepreneurship will make it more appealing.

    By integrating entrepreneurship into all disciplines, increasing the visibility of female founders, and fostering inclusive networks, universities can help break down the barriers that hold women back.

    If universities take action now, they can unlock untapped potential and drive future economic and social impact.

    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. Mark Zuckerberg wants business to ‘man up’, but what it really needs is more women entrepreneurs – https://theconversation.com/mark-zuckerberg-wants-business-to-man-up-but-what-it-really-needs-is-more-women-entrepreneurs-248440

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: ‘Serious concerns’: national assessment reveals rivers flowing into the Great Barrier Reef are getting more polluted

    Source: The Conversation (Au and NZ) – By Anna Lintern, Senior Lecturer in Civil Engineering, specialising in water quality, Monash University

    Polluted runoff is still smothering the Great Barrier Reef, our first national assessment of water quality trends in Australian rivers has revealed. The problem on the reef is getting worse, not better, despite efforts to improve farming practices and billions of dollars committed by governments to water-quality improvements.

    But in good news, there are signs of improvement in the Murray-Darling Basin, where less salt, sediment and phosphorous were detected in the water.

    Our latest research quantifies, for the first time, how water quality in Australian rivers has changed over the past two decades. Around half our 287 monitoring sites experienced significant changes in water quality between 2000 and 2019 on every measure we analysed. But the results for the reef and the basin stood out.

    In particular, freshwater flows into the Great Barrier Reef lagoon contained increasing levels of sediment and phosphorous. If the trend continues, we have serious concerns for the health of the Great Barrier Reef and the tourist industry it supports.

    Understanding river water quality

    We studied water quality monitoring data from 287 river sites across Australia. The relevant agency in each state and territory collects this information and makes it available online. The data covers the following:

    • salinity: too much makes water unsuitable for drinking or irrigation
    • dissolved oxygen: when the level is too low it can kill aquatic life
    • nitrogen and phosphorous: high levels of either can cause excessive algae growth and consumes oxygen
    • sediment: too much reduces light penetration and disrupts ecosystems

    We focused on sites with records of all five water quality indicators from 2000 to 2019.

    River flows can vary enormously from year to year and this affects water quality. So we used statistics to account for this and identify underlying long-term trends.

    In the catchments that exhibited significant changes between 2000 and 2019, about half showed improvements in dissolved oxygen, salinity and phosphorus, while the other half deteriorated. Sediment levels mostly improved (86% of catchments) over time. The story was not so good when it came to nitrogen levels, which went up in 60% of catchments.

    Two regions experienced the greatest large-scale changes in water quality over that time: the North East Coast basin and the Murray-Darling Basin.

    The research analysed two decades of water quality monitoring data from 287 sites dotted across Australia.
    Danlu Guo, CC BY-ND

    More polluted water flowing to the reef

    In the North East Coast basin, many rivers capture water from inland areas, including farming regions, and carry it to the ocean near the Great Barrier Reef. So, any pollution in these rivers are carried to the reef.

    Suspended sediments make the water cloudy or “turbid”. This can reduce the growth of seagrass and disrupt the growth and reproductive cycles of coral and some fish.

    Phosphorous and nitrogen are essential minerals or nutrients, which is why they are used on farms as fertiliser. But too much of either can lower coral diversity, and reduce resilience of coral to bleaching and disease.

    We found water quality in rivers flowing to the reef – one of the world’s seven natural wonders – had declined over the past two decades. In particular, levels of phosphorus and sediments had increased at around 5% per year on average across catchments.

    This may be a hangover from intensifying land use and clearing in the 1960s and ‘70s. Land clearing can lead to more erosion of sediment and phosphorus attached to soils. Similarly, intensive agriculture can lead to increased phosphorus in rivers, due to fertiliser use.

    Substantial investment has been made to improve water quality over many years. This includes almost A$1.8 billion committed by the federal and Queensland governments between 2014 and 2030. But it appears greater effort is needed to turn things around.

    It can take a long time for management strategies to start having an effect on water quality. So efforts to date may not yet be showing up. Or perhaps the scale of these changes has not been enough to shift the long-term trend in water quality.

    Regardless, declining water quality over the past two decades has direct implications for the future of the world heritage listed site.

    Cleaning up the basin

    In contrast, we found water quality in the Murray-Darling Basin was improving. Salinity levels declined, along with phosphorus and suspended sediment.

    Managing salinity in the basin is a long-term issue. Much of the basin’s groundwater is naturally saline to begin with. Land clearing and agricultural activities since European colonisation have further exacerbated the problem.

    But our results suggest salinity levels in the Murray-Darling Basin rivers are improving. This may be due to large-scale management actions such as improving irrigation efficiency, reducing drainage, installing salt interception, and drainage diversion schemes to divert saline groundwater away from entering the Murray River.

    These changes in water quality could also be due to declines in rainfall during the Millennium drought period over the late 1990s and early 2000s. The dry conditions might have altered processes controlling flushing of salt, sediments and phosphorus into waterways. As such, the drought has likely had more complicated and long-lasting impacts on water quality than the year-to-year variation in river flow.

    While our research shows water quality in the Murray-Darling Basin has improved, this does not mean funding in this area should reduce or cease. Scientists and policymakers must continue monitoring and working towards a healthy basin for future generations.

    Salt interception schemes divert about 400,000 tonnes of salt away from the river every year.
    Photo by Zac Edmonds on Unsplash, CC BY

    Keeping watch over water quality

    Unfortunately, insufficient long-term water quality monitoring limits our understanding of water quality trends across large parts of the country.

    This includes a large proportion of the western, northern and central parts of Australia. Filling these data gaps will require new and ongoing investment into water quality monitoring.

    Australian water authorities need to keep checking the health of our rivers.

    A national program to harness this data from states and territories, to monitor and track river water quality, is needed to continue similar Australia-wide assessments of water quality.

    Such assessments are vital for providing an evidence base for federal policy and identifying future needs in river water quality protection.

    Anna Lintern has previously received funding from the Australian Research Council and the Victorian State Government. She is an unpaid volunteer for her federal Independent MP’s office.

    Danlu Guo 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. ‘Serious concerns’: national assessment reveals rivers flowing into the Great Barrier Reef are getting more polluted – https://theconversation.com/serious-concerns-national-assessment-reveals-rivers-flowing-into-the-great-barrier-reef-are-getting-more-polluted-248903

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Elections mean more misinformation. Here’s what we know about how it spreads in migrant communities

    Source: The Conversation (Au and NZ) – By Fan Yang, Research fellow at Melbourne Law School, the University of Melbourne and the ARC Centre of Excellence for Automated Decision-Making and Society., The University of Melbourne

    Shutterstock

    Migrants in Australia often encounter disinformation targeting their communities. However, disinformation circulated in non-English languages and within private chat groups often falls beyond the reach of Australian public agencies, national media and platform algorithms.

    This regulatory gap means migrant communities are disproportionately targeted during crises, elections and referendums when misinformation and disinformation are amplified.

    With a federal election just around the corner, we wanted to understand how migrants come across disinformation, how they respond to it, and importantly, what can be done to help.




    Read more:
    Misinformation, disinformation and hoaxes: What’s the difference?


    Our research

    Our research finds political disinformation circulates both online and in person among friends and family.

    Between 2023 and 2024, we carried out a survey with 192 respondents. We then conducted seven focus groups with 14 participants who identify as having Chinese or South Asian cultural heritage.

    We wanted to understand their experiences of political engagement and media consumption in Australia.

    An important challenge faced by research participants is online disinformation. This issue was already long-standing and inadequately addressed by Australian public agencies and technology companies, even before Meta ended its fact-checking program.

    Lack of diversity in news

    Our study finds participants read news and information from a diverse array of traditional and digital media services with heightened sense of caution.

    They encounter disinformation in two ways.

    The first is information misrepresenting their identity, culture, and countries of origin, particularly found in English-language Australian national media.

    The second is targeted disinformation distributed across non-English social media services, including in private social media channels.

    Misinformation is often spread on Chinese social media platforms to target their users.
    Shutterstock

    From zero (no trust) to five (most trusted), we asked our survey participants to rank their trust towards Australian national media sources. This included the ABC, SBS, The Age, Sydney Morning Herald, 9 News and the 7 Network.

    Participants reported a medium level of trust (three).

    Our focus groups explained the mistrust participants have towards both traditional and social media news sources. Their thoughts echoed other research with migrants. For instance, a second-generation South Asian migrant said:

    it feels like a lot of marketing with traditional media […] they use marketing language to persuade people in a certain way.

    Several participants of Chinese and South Asian cultural backgrounds reported that Australian national media misrepresent their culture and identity due to a lack of genuine diversity within news organisations. One said:

    the moment you’re a person of colour, everyone thinks that you’re Chinese. And we do get painted with the same paintbrush. It is very frustrating […]

    Another added:

    Sri Lanka usually gets in the media for cricket mainly, travel and tourism. So apart from that, there’s not a lot of deep insight.

    For migrants, the lack of genuine engagement with their communities and countries of origin distorts public understanding, reducing migrants to a one-dimensional, often stereotypical, portrayal. This oversimplification undermines migrants’ trust in Australian national media.

    Participants also expressed minimal trust in news and information on social media. They often avoid clicking on headline links, including those shared by Australian national media outlets. According to a politically active male participant of Chinese-Malaysian origin:

    I don’t really like reading Chinese social media even though I’m very active on WeChat and subscribe to some news just to see what’s going on. I don’t rely on them because I usually don’t trust them and can often spot mistakes and opinionated editorials rather than actual news.

    Consuming news from multiple sources to understand a range of political leanings is a strategy many participants employed to counteract biased or partial news coverage. This was particularly the case on issues of personal interest, such as human rights and climate change.




    Read more:
    About half the Asian migrants we surveyed said they didn’t fully understand how our voting systems work. It’s bad for our democracy


    What can be done?

    Currently, Australia lacks effective mechanisms to combat online disinformation targeting migrant communities, especially those whose first language is not English.

    Generalised counter-disinformation approaches (such as awareness camapaigns) fail to be effective even when translated into multiple languages.

    This is because the disinformation circulating in these communities is often highly targeted and tailored. Scaremongering around geopolitical, economic and immigration policies is a common theme. These narratives are too specific for a population-level approach to work.

    Our focus groups revealed that the burden of addressing disinformation often falls on family members or close friends. This responsibility is particularly carried by community-minded individuals with higher levels of media and digital knowledge. Women and younger family members play a key role.

    Women and younger family members play a key role in debunking misinformation in migrant families.
    Shutterstock

    Focus group members told us how they explained Australian political events to their families in terms they were more familiar with.

    During the Voice to Parliament referendum, one participant referenced China’s history of resistance against Japanese Imperialism to help a Chinese-Australian friend better understand the consequences of colonialism and its impacts on Australia’s First Nations communities.

    Younger women participants shared that combating online disinformation is an emotionally taxing process. This is especially so when it occurs within the family, often leading to conflicts. One said:

    I’m so tired of intervening to be honest, and mostly it’s family […] my parents and close friends and alike. There is so much misinformation passed around on WhatsApp or socials. When I do see someone take a very strong stand, usually my father or my mother, I step in.

    Intervening in an informal way doesn’t always work. Family dynamics, gender hierarchies and generational differences can impede these efforts.

    Countering disinformation requires us to confront deeper societal issues related to race, ethnicity, gender, power and the environment.

    International research suggests community-based approaches work better for combating misinformation in specific cohorts, like migrants. This sort of work could take place in settings people trust, be that community centres or public libraries.

    This means not relying exclusively on changes in the law or the practices of online platforms.

    Instead, the evidence suggests developing community-based interventions that are culturally resonant and attuned to historical disadvantage would help.

    Our recently-released toolkit makes a suite of recommendations for Australian public services and institutions, including the national media, to avoid alienating and inadvertently misinforming Asian-Australians as we approach a crucial election campaign.

    Sukhmani Khorana receives funding from the Australia Research Council and has previously conducted commissioned research for migrant and refugee-focused organisations.

    Fan Yang 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. Elections mean more misinformation. Here’s what we know about how it spreads in migrant communities – https://theconversation.com/elections-mean-more-misinformation-heres-what-we-know-about-how-it-spreads-in-migrant-communities-247685

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