Category: Business

  • MIL-OSI: Toobit Climbs New Heights in Partnership with Elite Climber Chris Sharma

    Source: GlobeNewswire (MIL-OSI)

    GEORGE TOWN, Cayman Islands, May 27, 2025 (GLOBE NEWSWIRE) — Award-winning digital asset trading platform Toobit today announces its collaboration with world-renowned climber and sport climbing pioneer Chris Sharma, who joins as the company’s official brand ambassador. The collaboration brings together one of the most respected figures in climbing with a platform known for its precision, innovation, and ambition.

    From scaling near-impossible limestone cliffs to charting new climbing routes around the world, Sharma is known for relentlessly pushing the limits of what’s possible—an ethos Toobit sees reflected in high-performance trading. His journey, built on discipline, sharp decision-making, and a deep passion for his craft, mirrors the core principles of strategic crypto trading: calculated risk, timing, and mastery built through consistency.

    “When you’re 60 feet off the ground with nothing but your decisions and your preparation holding you there, there’s no room for hesitation,” Sharma said. “Climbing is about trust: trusting your gear, your team, yourself. Crypto isn’t so different. You need a solid foundation, and Toobit gets that. ”

    The partnership highlights the shared mindset between elite climbing and strategic trading, where success hinges on careful preparation, bold vision, and trust in your tools. Sharma will soon feature in Toobit’s global campaigns and community initiatives, including the cryptoasset exchange’s flagship trading competition and upcoming product launches.

    “We are thrilled to welcome Chris Sharma to Toobit,” said Mike Williams, Chief Communication Officer at Toobit. “His career reflects the same passion, precision, and calculated drive that we build into our platform. Whether on the rock or in the market, successful performance comes from preparation, instinct, and risk with purpose.”

    This announcement follows Toobit’s continued global expansion and rollout of new features including Earn, Convert, and Gift, as well as a collaboration with NovaMeme offering decentralized finance options. Each initiative is designed to support traders of every level with the tools they need to succeed.

    About Toobit

    Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.

    For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram

    Contact: Davin C.

    Email: market@toobit.com

    Website: www.toobit.com

    Disclaimer: This is a paid post and is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.
    Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68af9f04-7d38-442d-8e34-5a9bd2c930f4

    The MIL Network

  • MIL-OSI: Axi launches ‘Tunnel of Triumph’ campaign with Manchester City star, John Stones

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 27, 2025 (GLOBE NEWSWIRE) — Leading online FX and CFD broker Axi has unveiled their second activation with Man City star and Brand Ambassador, John Stones. Their latest campaign, Tunnel of Triumph, builds on the success of last year’s Axi spread-betting campaign, once again featuring John Stones. This year, the City star relives some of his biggest moments on the pitch and reveals what those experiences have meant to him and the team.

    Hannah Hill, Head of Brand and Sponsorship at Axi, expressed her enthusiasm for their new campaign, stating, “We’re thrilled to be launching the Tunnel of Triumph campaign featuring our Brand Ambassador, John Stones. John is a remarkable player who brings relentless edge, ambition, and never settles for less on the pitch – qualities that perfectly mirror our own. When it comes to what we deliver for our clients, we continually aim to excel, whether it’s through our super competitive trading conditions, our excellent customer service, or our offerings. Focusing exclusively on the UK audience, our latest campaign promotes our Spread Betting account, highlighting how our clients can trade the markets tax-free*.”

    Axi’s Tunnel of Triumph campaign complements the broker’s ‘Four Years’ campaign, launched in March 2025, which featured City star players Ruben Dias, Bernardo Silva, and John Stones. The campaign celebrated four remarkable years of collaboration, shared achievements, and reaching new heights together.

    Further to the broker’s long-term partnership with Manchester City and having John Stones as their Brand Ambassador, Axi is also the Official LATAM Online Trading Partner of LaLiga club, Girona FC, and the Official Online Trading Partner of Brazilian club, Esporte Clube Bahia.

    https://youtu.be/ThJDNXKddac

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    *Applies to UK spread betting. Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK. Axi does not provide tax advice.

    About Axi 

    Axi is a global online FX and CFD trading brand, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more. 

    For more information or additional comments from Axi, please contact: mediaenquiries@axi.com. 

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08aae059-82a9-4097-921e-3fb8c451ea98

    The MIL Network

  • MIL-OSI Economics: Financial regulation and growth: what should be the European policy priorities?

    Source: Bank for International Settlements

    There is no compelling evidence that tighter prudential regulations after the Great Financial Crisis have had a disproportionate impact on banks’ lending capacity or the macroeconomy. However, there is scope to improve certain aspects of the current framework. In particular, authorities could consider simplifying some requirements and rebalancing the combination of across-the-board regulations and tailored supervisory actions in favour of the latter. There is also a clear public policy case to strengthen the regulation of non-bank providers of financial services by introducing adequate entity-specific requirements.

    In Europe, it would be worthwhile to explore the extent to which the complexity of the institutional framework for banking regulation could impose excessive compliance costs on European banks. However, the main policy priority for fostering the efficiency and profitability of the industry remains promoting an integrated banking system. This requires removing political obstacles for cross-border consolidation and taking more decisive steps to complete the banking union.

    MIL OSI Economics

  • MIL-OSI Russia: Fifty years later: 1975 road workers graduates meet at SPbGASU

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – LISI Graduates of 1975

    A meeting of graduates of the road construction faculty of the Leningrad Civil Engineering Institute (LISI, as our university was then called) of 1975 in the specialty “Motorways” was held at SPbGASU.

    The main organizer of the anniversary meeting was the former head of the group, and now professor of the Department of Transport Systems and Road and Bridge Construction of our university, Alexander Solodkiy.

    “Many of my classmates have achieved great professional success: they worked in leading construction and design organizations in the road industry and in executive authorities managing the road sector, became founders and heads of companies, were awarded the title of “Honorary Road Builder of Russia” and other awards. Thus, Vladimir Valentinovich Kalinin heads the ABZ-1 group of companies, Igor Anatolyevich Pichugov heads the Dorservis group of enterprises. I headed the Department of Transport Systems at SPbGASU for nine years, and I have a Doctor of Science degree. Another Doctor of Science was Evgeny Nikolaevich Barinov, who worked at the Department of Highways at LISI. Unfortunately, he is no longer with us,” said Alexander Solodkiy.

    Aleksandr Ivanovich emphasized that graduates do not lose touch with their alma mater. Thus, Vladimir Kalinin has been the chairman of the state examination commission for the training profile “Motorways” for many years. The small innovative enterprise OOO “SPbGASU-Dorservis” is successfully operating.

    The graduates were happy to see their home university and communicate with each other. The meeting began with a photo session on the balustrade and continued in the board of trustees’ meeting room, where the guests were greeted on behalf of the management by the Vice-Rector for Youth Policy Marina Malyutina. Marina Viktorovna spoke about the modern development vectors of SPbGASU. In order to instill an entrepreneurial spirit in young people, the university is implementing the Startup as a Diploma project. To increase practical orientation, it is planned to launch an elective next year, within the framework of which students will work on project tasks together with professionals. Marina Viktorovna noted that the university expects tasks for project-based learning from industry practitioners, and called on graduates to convey this information to enterprises.

    The guests viewed the exposition of the university history museum. LISI graduate Lyudmila Nikolaevna Yakovleva presented the museum with the newspaper “For Construction Personnel” from March 17, 1971. The conversation continued at the Automobile and Road Engineering Faculty.

    We asked graduates to tell us about their professional paths.

    “I consider myself a professionally accomplished person”

    In 1970, Nadezhda Fedosova entered the Leningrad Civil Engineering Institute, Faculty of Mechanical Engineering and Highways, to study in the specialty of “Motorways”. She completed her studies at the Faculty of Road Construction, which was created as a result of the reform of education. Five years of study alternated with industrial practices in Leningrad and trips to student construction teams. In 1972, the student summer was spent in a construction team in the Komi ASSR in the city of Mikun, on the route of the Siyanie Severa gas pipeline, and in 1973 – at the All-Union shock construction site of the Phosphorit nitrogen-phosphorus fertilizer plant. During the time spent in student construction teams and during practice, we had to do all types of road work. In addition, everyone worked on clean-up days during the major repairs of the main building of the institute.

    After graduation, Nadezhda Vasilyevna worked at the Vsevolozhsk DRSU “Lenavtodor”, which she is very happy about, because there she received professional skills in both construction issues and road maintenance.

    Since 2001, Nadezhda Vasilyevna has been working at JSC VAD as an expert in design and estimate documentation and has been assisting students of SPbGASU who come for practical training in preparing their diploma theses. Nadezhda Fedosova has been awarded certificates of honor, the medal “In Memory of the 300th Anniversary of St. Petersburg”, and the title of “Honorary Road Builder of Russia”.

    “I am grateful to fate that I did not make a mistake in choosing my profession. I am proud of it, I consider myself a professionally accomplished person thanks to our teachers, whose lecture notes I looked at even after my studies,” said Nadezhda Vasilyevna.

    “The knowledge I gained at the institute helped me to realize myself as an engineer”

    Evgeny Medres entered LISI following in the footsteps of his older brother, who worked fruitfully at Lenavtodor and advised him to enter here. Evgeny Petrovich never regretted following this advice for a minute in his life. His student life was active: Evgeny Medres played in a basketball team and a musical ensemble. He remembered his work in construction teams: in 1972, at the construction of the Siyanie Severa gas pipeline, and in 1973, at the construction site of the Phosphorit nitrogen-phosphorus fertilizer plant. After graduating from LISI, Evgeny Medres worked as a foreman in Construction Department No. 5 of the Lendorstroy trust. He was a foreman, site manager, and built street and road network facilities. From 1979 to 1993, he worked at the Leningrad branch of GiprodorNII. Since 1993 – First Deputy General Director and Chief Engineer of JSC Petersburg-Dorservice.

    Under his leadership, projects for the construction, reconstruction and major repairs of more than 700 transport infrastructure facilities in various regions of Russia were developed, including the St. Petersburg ring road, the M-11 “Neva” Moscow – St. Petersburg highway, and the Kurortny Prospekt understudy in Sochi. Evgeny Petrovich was awarded the titles of “Honored Worker of Transport of Russia”, “Honored Road Builder of Russia”, and was awarded the medal of the Order “For Merit to the Fatherland” of the 2nd degree.

    Together with SPbGASU, Evgeny Petrovich is actively involved in research work, is the chairman of the State Examination Commission in the direction of “Ground Transport and Technological Means”, and heads the basic department of the automobile and road faculty at JSC “Petersburg-Dorservis”. “The knowledge I received at the institute helped me realize myself as an engineer,” he is sure.

    “Loyalty to the cause”

    Aleksandr Petrov was involved in road cycling in his senior years. “I saw and felt the condition of the roads. I thought that studying at LISI on the “roads” was an opportunity to change the situation for the better. Our coach also graduated from LISI and supported my choice. There were about five of us cyclists who applied in 1970. We could have put together a full-fledged sports team, but I was the only one who got in,” Aleksandr Vasilyevich said.

    Alexander Vasilyevich remembered the following internships: geodetic at the base in Peterhof, hydrological in Daimishche, geological in the Sablinsky caves, as well as competition evenings of faculties, a construction team in Kingisepp at Phosphorite.

    After graduating from the institute, Aleksandr Petrov worked as a foreman at DSU-6 of the Lenavtodor association for the reconstruction and major repairs of highways, rising from a foreman to the director of the Russian-American enterprise. Then he worked at the Leningrad Region Road Committee, where he rose to the rank of department head. He was awarded the titles of Honorary Transport Worker and Honorary Road Builder of Russia.

    “I am proud of my classmates who, from their first working days until their well-deserved rest (but many continue to work!), dedicated themselves to the profession they received at LISI. Deep knowledge, an excellent faculty, and a kind attitude towards students instilled in us loyalty to the cause we dedicated ourselves to in our youth. Over 50 years in the road industry, we can trace the positive changes in this area that have occurred thanks to our activities and education,” noted Alexander Vasilyevich.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Russia: The i.moscow platform has won the Digital Leaders award for the third time

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The capital hosted an award ceremony for the best projects in the field of digitalization and online services. The Moscow Innovation Cluster platform was awarded the Digital Leaders prize for the third time. This year, it became a laureate in one of the key nominations — “Platform of the Year”.

    Platform I. Moskov has been operating since 2019. It provides support in seven key areas, such as Investments, Demand and Cooperation, Startup Support, Grants and Loans, Infrastructure, Patenting, and Projects for the Metropolis.

    For Moscow innovators, research teams, companies and individual entrepreneurs, the platform offers over 50 digital services that help, among other things, establish partnerships with enterprises from other regions. In 2024, the range of support measures offered was expanded by launching three new services: Startup Showcase, TechnoMarket and Path to IPO.

    The Digital Leaders Award has been presented since 2020 and provides an opportunity to confirm leadership in the digital world, declare your achievements and gain recognition among leading companies and specialists. The expert council includes representatives of science, innovation and digitalization, business and government bodies, as well as authoritative public figures.

    Digital Leaders has been a platform for companies to showcase breakthrough solutions and industry leaders to share their experiences for several years now. Its main goal is to become a guide in the world of digital change, promoting best practices in the market.

    The nominations include: “Digital Leader of the Year”, “Best Digital Transformation of the Year”, “Global Breakthrough in Business Digitalization”, “Solution of the Year”, “Platform of the Year”, “Development of the Year”, “Company of the Year”, “Technology of the Year”.

    Moscow Innovation Cluster promotes the creation of conditions for the implementation of priority areas of scientific and technical development in the capital – the development and implementation of modern technologies, ensuring scientific, technical and industrial cooperation, effective interaction of all participants in the city’s innovative ecosystem. The cluster includes organizations from 87 regions of Russia. Developers and high-tech businesses have access to over 50 digital services and services from the city. The project is supervised by the capital Department of Entrepreneurship and Innovative Development.

    Demand for the Moscow Innovation Cluster’s online platform has grown 2.5 times in a yearTech companies can find space to work with city service

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/154384073/

    MIL OSI Russia News

  • MIL-OSI: OwlTing Group Unveils AI-Powered OwlPay® Harbor™ for Stablecoin On/Off-Ramping

    Source: GlobeNewswire (MIL-OSI)

    ARLINGTON, Va., May 27, 2025 (GLOBE NEWSWIRE) — OwlTing Group (the “Company”), a global blockchain fintech company, today announced an integration of AI features into its payment API infrastructure, OwlPay® Harbor™ (the “Platform”). This AI-driven technical support feature helps developers accelerate onboarding the Company’s API, which aims to provide secure on/off-ramping services to send, receive, and hold funds in U.S. dollars and USDC1 stablecoin for global payouts across over 100 countries2. With competitive fees and robust regulatory compliance coverage across over 30 U.S. states3, OwlPay® Harbor™ offers a trusted and scalable solution for businesses worldwide.

    The newly adapted Model Context Protocol (MCP)4 tool, similar to a “USB-C port for AI models,” provides a unified approach for AI to get the real-time context with smarter responses, interacting with a human developer. This AI feature simplifies the process to integrate the Company’s API, lowers the onboarding time and maintenance efforts, and more importantly, allows developers to leverage their existing AI models without sharing sensitive data with external systems.

    Global businesses such as banks, digital wallets, DeFi companies, or fintech providers that are seeking embedded crypto-to-fiat conversions will be able to offer their customers a seamless payment experience with their own products or platforms behind the scenes.

    “We’re excited to bring AI to our flagship payment platform,” said Darren Wang, Founder and CEO at OwlTing Group. “With our wide compliance footprint, AI-driven support, and flexible service models, OwlPay® Harbor™ offers global companies the legitimacy and efficiency of payments in the U.S. and beyond borders.”

    OwlPay® Harbor™ provides enterprise-ready APIs for USD–USDC conversions via Wire and ACH transfers, with cross-chain compatibility for supported transactions across Stellar, Ethereum, Polygon, Arbitrum, Optimism, and Avalanche blockchains. It will also support Solana in the future. As a Stellar Anchor, it brings businesses an easier integration using SEP-24 (deposit/ withdrawal)5 and SEP-10 (authentication)6 protocols to the Stellar network.

    The platform offers extensive global reach and budget-friendly pricing tailored for all kinds of businesses. Holding over 30 Money Transmitter Licenses (MTLs) or their equivalent, adhering to strict KYC/AML standards, and securing ISO 27001 certification for its payment solution, OwlPay® Harbor™ stands ready to deliver with trust and reliability for global operations.

    Photo Caption: OwlPay® has obtained the ISO 27001 certification, underscoring its commitment to minimizing cyber risks and safeguarding users’ data.

    OwlPay® Harbor™ now offers two flexible service models:

    Partnership Model:

    • Designed for platforms like marketplaces or payment processors that collect funds from users for global payouts. Approved platforms manage funds and pay OwlPay® directly.
    • Supports USD payouts in supported regions globally. It also supports local payouts in 10 currencies: EUR (via SEPA), CAD, GBP, JPY, SGD, HKD, ZAR, AED, MXN, and BRL.
    • Use Case: An e-commerce platform collects USD from customers, converts it to USDC via OwlPay®, and pays retailers or freelancers in the Americas, hedging the currency fluctuations.

    End User Model:

    • Designed for other platforms wishing to avoid handling funds directly, with end users paying OwlPay® directly for implementing USD-USDC conversions.
    • Supports USD payouts in supported regions globally.
    • Use Case: An U.S. app allows users to buy USDC with USD via OwlPay® behind their own user interface, while its customers would enjoy an integrated customer journey.

    The stablecoin market has soared to a record $240 billion7 and is projected to reach $2 trillion by 20288. As demands for efficient digital payments surge, businesses integrating with the platform that combines seamless AI-driven APIs, regulatory compliance, and cross-chain compatibility for supported blockchains are positioned to be at the forefront of this thriving economy.

    OwlTing continues expanding its regulatory coverage and aims to obtain MTLs in all U.S. states as applicable, along with ongoing license applications in global markets such as Japan and the EU. The company will deploy AI tools across its OwlPay® product suites to enhance efficiency and user experience, strengthening its global leadership in stablecoin payments.

    About OwlTing Group
    Founded in 2010, OwlTing is a global blockchain fintech company based in Taiwan and has subsidiaries in the U.S., Japan, Poland, Singapore, Hong Kong, Thailand, and Malaysia. In 2022, it was selected by KPMG and HSBC as “the Leading 3 Emerging Giants in Taiwan.” With the mission to usher in the digital transformation of traditional payment processes, while ensuring legal compliance, OwlTing introduced OwlPay®, a Web2 and Web3 hybrid payment solution, to empower global businesses to operate confidently in the evolving digital landscape. For more information, visit https://www.owlting.com/portal/?lang=en.

    Media Contact
    PR Office at OwlTing Group
    pr_office@owlting.com

    1 USDC is an internet-native, fully-reserved, regulated digital dollar that leverages blockchain networks to enable businesses, developers, and individuals to conduct near-real-time, low-cost global transactions. It is a leading, fully-reserved global stablecoin issued through Circle’s regulated affiliates. To learn more about using or accessing USDC, visit USDC.com. To learn more about Circle’s regulatory authorizations, visit Circle’s Licenses page https://www.circle.com/legal/licenses
    2 Availability may vary by jurisdiction and is subject to change. Please refer to the most current service documentation or contact support for the latest coverage.
    3 Availability may vary by jurisdiction and is subject to change. As of May 2025, OwlTing Group has obtained MTL licenses or their equivalent in over 30 U.S. states and is in the process of applying for relevant legal trading licenses in other U.S. states. For a list of U.S. licenses obtained, please see https://www.owlting.com/owlpay/licenses?lang=en. Please refer to the most current service documentation or contact support for the latest coverage.
    4 Model Context Protocol (MCP) is the open standard released by Anthropic, it’s a communication protocol that enables AI agents to interpret, respond to, and take action based on structured context within API workflows. By minimizing data exposure, MCP supports personalized interactions while preserving user privacy, and reduces hallucinations by grounding AI responses in verifiable external data. For more information, please see https://modelcontextprotocol.io/introduction
    5 SEP-24 is the standardized protocol for hosted deposits and withdrawals on Stellar’s ecosystem. With OwlPay® HarborTM, businesses can make their on/off-ramping services available as an in-app experience through Stellar-based applications such as wallets and exchanges, extending their reach and connecting with users through the applications they already use.
    6 SEP-10 is the authentication protocol of Stellar. This is used to verify the user’s KYC information.
    7 According to DeFiLlalma, the data aggregator for DeFi, the total stablecoin market cap is $242 billions as of May 2025.
    8 According to a Standard Chartered Bank report, titled “Stablecoins, USD Hegemony, and UST Bills” published in April 2025.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c6bcf23b-ff93-4137-a40e-74e21baebe22

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7d98cda1-6f72-4048-9a0c-1738bc76a2bb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/426a725d-5e74-4993-9f96-c4a1f8e4454d

    The MIL Network

  • MIL-OSI: Live Coin Watch Exclusive: Bitcoin Solaris Announces Phase 5 Presale Ahead of Nova App Mining Launch

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, May 27, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris, the next-generation decentralized blockchain built for mobile-first mining, has officially entered Presale Phase 5, pricing BTC-S tokens at 5 USDT. This announcement comes just ahead of the beginning of a selected group testing of Nova App Beta, a breakthrough mobile mining platform designed to allow users to earn tokens directly from their smartphones.

    Bitcoin Solaris is offering a fixed supply of 21 million tokens, with only 20% (4.2 million tokens) allocated to the entire presale. With no inflationary mechanics, the tokenomics are designed to reward early participation through a capped supply and verifiable, transparent distribution.

    Nova App: Mobile Mining for Everyone

    Scheduled to launch soon, the Nova App enables users to earn BTC-S by contributing idle storage and processing power on their smartphones. With no technical knowledge or staking required, the app automatically rewards users based on uptime and minimal hardware contribution—democratizing access to on-chain earnings and transforming smartphones into passive income nodes.

    High-Speed Infrastructure Designed for Scale

    Built on a dual-layer blockchain, Bitcoin Solaris supports 10,000+ TPS and delivers 2-second finality through its combination of Proof-of-Stake (PoS), Proof-of-Capacity (PoC), Proof-of-History (PoH), and Proof-of-Time (PoT). This scalable architecture ensures that mobile miners worldwide can participate without congestion, latency, or centralization risks.

    Fully Audited and Verified

    Bitcoin Solaris has completed multiple independent security audits. Cyberscope verified its smart contract code and emission logic, while Freshcoins audited its mobile mining performance. Full KYC verification adds a layer of governance transparency uncommon in early-stage blockchain projects.

    Strategic Entry Point Remains Open — But Not for Long

    Bitcoin Solaris is currently in Presale Phase 5, with BTC-S priced at 5 USDT. The token is projected to launch at 20 USDT, offering early buyers a potential 4X return. Of the total 21 million BTC-S supply, 4.2 million (20%) are allocated to the entire presale. There is no inflationary mechanism — once distributed, no additional tokens will be created.

    Presale participants not only secure tokens at a fixed price but gain early access to Nova App mining before user growth increases difficulty and dilutes returns. It’s a defined moment — structurally similar to Bitcoin under $100 — where participation is low, supply is accessible, and upside is still untapped.

    In a recent feature, Crypto Volt outlined how Bitcoin Solaris’s presale structure, mobile mining model, and supply cap recreate the early mechanics of Bitcoin itself. His breakdown shows why BTC-S is one of the few projects positioned to deliver protocol-scale wealth to individual users — not just funds and insiders.

    Presale Access:
    https://bitcoinsolaris.com

    Follow Bitcoin Solaris:

    X (Twitter): https://x.com/BitcoinSolaris
    Telegram: https://t.me/Bitcoinsolaris

    Media Contact:
    Xander Levine
    info@bitcoinsolaris.com
    Email: press@bitcoinsolaris.com

    Press Kit: [Available Upon Request]

    Disclaimer: This is a paid post and is provided by Bitcoin Solaris. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f3d92a04-bda3-46a5-8dc5-1da8a7560224

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d41349a6-2964-4db3-9bd2-fb6db1cf878f

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7c9590f8-f573-427d-99c5-d7e355c0453c

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e550c186-89f4-4f88-8c03-ec213e09e3c1

    The MIL Network

  • MIL-OSI Africa: South Africa’s Independent Power Producers (IPP) Office backs Youth Energy Summit

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, May 27, 2025/APO Group/ —

    We are proud to welcome the Independent Power Producers Office (IPP) as the overall Summit Sponsor of the 2025 Youth Energy Summit (YES!). The event, happening from 18-20 June in Cape Town, will unite more than 3,000 graduates, emerging professionals, and young entrepreneurs in tackling Africa’s most pressing 21st-century energy challenges.

    For a full programme and to join the debate, visit: https://apo-opa.co/4jkJTZq

    With more than 50% of Africa still lacking access to electricity, and a vast untapped potential in renewable energy, the continent has the opportunity to create up to 100 million green jobs by 2050. But how can we meet this demand? How do we bridge the skills gap? And how can youth voices be integrated into energy decision-making at the highest levels? These are just a few of the critical questions that will be explored at YES!, the world’s largest gathering of youth in the energy sector.

    Enabling South Africa’s energy sector through youth and community development has always been at the heart of the IPP office’s activities. This investment into Africa’s youth is testament to the importance the IPP Office places on youth and community engagement throughout the deals and work they are tasked to do by the government.

    Joining the IPP Office to open the Youth Energy Summit on Wednesday 18th June will be Andry Rajoelina, the President of Madagascar, African Development Bank nominee for President, Amadou Hott, and African Union Commissioner for Energy and Infrastructure, His Excellency Lerato D. Mataboge.

    Dzunani Makgopa, IPP’s chief financial officer, says: “Renewable energy is the way to go, not just nationally, but globally. YES! is a great platform to introduce young professionals to the sector. This is the place to be, and we need to empower a lot of youth to the opportunities that exist within the energy sector.’

    Simon Gosling, EnergyNet Managing Director, adds: “It’s an exciting time for young people looking to take a more productive role in energy. The IPP Office puts community engagement and job creation at the heart of its mission. This commitment to sponsor the Youth Energy Summit is an extension of its policies and aims to expose thousands of young people to the many vast and varied opportunities within the South African IPP and energy universe.”

    Established in 2023, YES! is dedicated to empowering African youth and institutions by providing resources, training, and networking opportunities within the energy sector. The summit brings together thousands of entrepreneurs, early-career professionals, educators, and students from across the continent. With the goal of building a network of 100 million young energy leaders by 2035, YES! is accelerating the transition to a sustainable energy future.

    This year’s summit will feature dynamic sessions on energy careers, skill development, and opportunities within the sector, as well as insights from recruiters, energy entrepreneurs, and industry experts. YES! also partners with top academic institutions, including the University of Cape Town, the University of the Western Cape, Eduvos, Kenyatta University, and Harambee.

    QUOTES

    “DBSA’s mission is to build Africa’s prosperity, and we’re delighted to be working with YES! to help ensure the Youth take part in and benefit from the Energy Transition. Empowering the next generation is one of the most valuable actions anyone can take.”

    Foundation sponsor Development Bank of Southern Africa (DBSA)

    “The Youth Energy Summit is more than a gathering – it’s a movement. Africa has the youngest population in the world, and the youth is our greatest asset in the drive towards a more sustainable, inclusive energy future.”

    Anél Bosman, Group Managing Executive, Nedbank CIB

    “Siemens Energy is at the YES Summit because we believe the bold dreams of the next generation of energy leaders can ignite a global energy revolution with real-world impact.”

    Neveen Hussein, Sustainability Leader, Middle East & Africa | Siemens Energy

    “At Pele Energy Group, we believe the true power behind the energy transition isn’t just in technology or infrastructure – it’s in people. That’s why partnering with YES! felt like more than a decision; it felt like a calling.

    Melissa Wilkinson, Chief People Person, Pele Energy Group

    “I said yes to the YES! Summit, not because of panels or speeches, but because it calls for ownership. The future of this country will not be built by someone else. It’s us, the youth, who must roll up our sleeves, lean into the discomfort, and change South Africa ourselves.”

    Layton Nenzinane, Chief Financial Officer, Seriti Green

    “EWSETA says YES to YES! because the Summit aligns with our strategic mandate to empower youth, graduates, and entrepreneurs with future-focused skills for the energy and water sectors. It offers a powerful platform to amplify our training programmes, bursaries, and impact on over 4,000 young professionals across Africa.”

    The Energy and Water Sector Education Training Authority (EWSETA)

    MIL OSI Africa

  • MIL-OSI United Kingdom: Vacant plots overlooking Millbay to be auctioned

    Source: City of Plymouth

    Several parcels of land overlooking Millbay docks are to be put up at auction as part of the Council’s ongoing review of its assets and land.

    Brownfield sites on the south side of Caroline Place in Stonehouse are to go to auction on 12 June.

    The vacant plots – which are believed to be the remains of bombed out properties – have lain hidden for many years and the Council is putting them up for sale to see if there is anyone or company willing to put the site to better use.

    The site is bound by Caroline Place to the north and the main access to Millbay Ferry Terminal to the south. The land slopes steeply from north to south and sits within the Stonehouse Peninsula Conservation Area.

    Councillor Chris Penberthy, Cabinet Member responsible for assets said: “This is all part of our constant review of our properties and assets to make sure they help us deliver priorities for the city.

    “Redeveloping these plots will be a challenge and I imagine most people did not even know these parcels of land existed. We are putting them on the market and hopefully someone can put them to good use – perhaps vitally needed new homes.”

    Successfully selling the plots would give the Council a capital receipt, which could be reinvested to support improvements to other council properties. It could also see a brownfield site back into use.

    Any organisation or individual interested in the sites is advised to engage with the Local Planning Authority to allow careful assessment of any proposals.  

    The auction will take place on 12 June. For more information about the plots visit www.cliveemson.co.uk.

    MIL OSI United Kingdom

  • MIL-OSI Economics: Identity fraud: BaFin warns consumers about the website goldingdigital.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website goldingdigital.com. BaFin suspects the unknown operators of the website of offering consumers financial and investment services without the required authorisation. Contrary to the claims on the website, the services offered do not originate from Golding Capital Partners GmbH, which has its registered office in Munich. This is a case of identity fraud.

    BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (KreditwesengesetzKWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (BundeskriminalamtBKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: President Lai meets delegation from European Parliament

    Source: Republic of China Taiwan

    Details
    2025-05-20
    President Lai hosts state banquet for President Surangel Whipps Jr. of Republic of Palau
    On the evening of May 20, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, hosted a state banquet at the Presidential Office in honor of President Surangel Whipps Jr. of the Republic of Palau and his wife. In remarks, President Lai said that he looks forward to working closely with President Whipps to promote tourism exchanges and sports cooperation so that Taiwan and Palau shine brightly together on the international stage. A translation of President Lai’s remarks follows: It is a pleasure to host this banquet tonight at the Presidential Office for President Whipps, First Lady Valerie Whipps, and the esteemed members of their delegation. Welcome to Taiwan. During my trips to Palau in 2022 and last year, President and First Lady Whipps received me with great hospitality. Wearing my island shirt, I enjoyed a very friendly reception from the people of Palau. It felt warm and friendly, just like being welcomed back home. The first time I visited Palau, President Whipps and I piloted a boat to the Milky Way lagoon. We both tried volcanic mud facial masks. We also fished together and enjoyed the breeze as we walked on the beach. Last year, on my second visit to Palau, I was honored to be invited to address the National Congress. I also observed the results of the close bilateral cooperation between our two nations. Due to its world-famous ocean scenery, Palau is sometimes referred to as “God’s aquarium.” And it is even possible to snorkel with sharks. It leaves a deep impression. Nothing compares to seeing Palau firsthand. During the COVID-19 pandemic, Taiwan and Palau launched a travel bubble that created a safe means of travel. Now, with the pandemic behind us, I hope that even more Taiwanese can tour Palau and gain a greater understanding of our diplomatic ally. In addition to tourism exchanges, I mentioned on my visit to Palau last year that I hoped Taiwan and Palau could promote sports cooperation by providing training away from home. Next month, Palau will be holding the Pacific Mini Games. And right now, Palau’s national baseball and table tennis teams are holding training sessions here in Taiwan. We will do our utmost to support Palau’s national players and we hope they stand out and achieve outstanding results in the events. I look forward to working closely with President Whipps so that Taiwan and Palau shine brightly together on the international stage. Thank you! Mesulang! President Whipps then delivered remarks, saying that it is truly an honor to be here once again one year after President Lai’s inauguration. Mentioning that this is his first state visit after being reelected to a second term, he said that it is important to be here among friends, and that we are more than friends, we are family. He thanked President Lai for the generous words and, most importantly, Taiwan’s enduring support. He remarked that our relationship continues to get stronger in each passing year. President Whipps said that President Lai’s diplomacy initiative, leadership, and vision deeply resonate with them. Diplomacy must be rooted in our shared values, he said, and an unwavering support for our allies and a commitment to a sustainable, inclusive development are all deeply appreciated by their people. President Whipps emphasized that, as we look into the future and the challenges that we face, from security to climate change, it is so important that we are united. He added that it is important for the world, and especially important for them in Palau, that they stand up for Taiwan, so that Taiwan can participate on international fora that address climate change, security, and health, because they know the world is better when Taiwan has a seat at the table. Mentioning that Palau will host the Pacific Islands Forum next year, President Whipps said that Palau remains committed to working closely with Taiwan to ensure a successful event, and that they will continue to speak up for Taiwan’s indispensable contributions as we stand together against any efforts to silence or isolate democratic partners. President Whipps said that our nations have navigated challenges and emerged stronger, bound by a partnership that is built on trust, respect, and hope for a better world. Whether it is in clean energy, education, smart medicine, or tourism, our shared journey is just beginning, he said, and we are stronger together.  Also in attendance at the banquet were Palauan Minister of State Gustav Aitaro, Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.

    Details
    2025-05-20
    President Lai and President Surangel S. Whipps, Jr. of Palau hold bilateral talks and witness signing of cooperation agreements  
    On the afternoon of May 20, following a welcome ceremony with military honors for President Surangel S. Whipps, Jr. of the Republic of Palau and his wife, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Whipps at the Presidential Office. The two leaders also jointly witnessed the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation. In remarks, President Lai thanked Palau for standing firm in its backing of Taiwan’s international participation as geopolitical tensions continue to increase in the Pacific region. He added that he looks forward to the cooperative ties between Taiwan and Palau continuing to expand into even broader areas, allowing our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. A translation of President Lai’s remarks follows: I welcome our guests to Taiwan once again. Last year on May 20, President Whipps led a delegation to attend the inauguration ceremony for myself and Vice President Hsiao. I am delighted, on the anniversary of my first year in office, to meet with old friends of Taiwan again, as President Whipps returns for this visit. Taiwan-Palau relations have grown even closer in recent years thanks to the strong support of President Whipps. In 2022, during my term as vice president, I led a delegation to Palau as a demonstration of how our nations were together boosting tourism development as we jointly faced the challenges of the COVID-19 pandemic. Every time I visit Palau, and every time I meet with President Whipps, I feel very deeply that Taiwan and Palau are like family. We are both maritime nations and share a common Austronesian heritage and culture. We are also staunch partners in upholding such values as freedom, democracy, and respect for human rights. Last December, when I went on my first overseas trip since taking office, one of the nations I visited was Palau. We celebrated the 30th anniversary of Palau’s independence and 25 years of diplomatic relations, underscoring our friendly ties. Taiwan and Palau enjoy close exchanges and cooperation in a range of areas, including climate change, education, agriculture and fisheries, healthcare, humanitarian assistance, sports, and culture. After this meeting, President Whipps and I will witness the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation, demonstrating once again our diverse collaboration and strong friendship. I believe that by working together, Taiwan and Palau can contribute to each other’s development and overcome the regional and global challenges we currently face. In particular, as geopolitical tensions continue to increase in the Pacific region, Palau has wisely and courageously upheld democratic values and stood firm in its backing of Taiwan’s international participation. Palau has never stopped voicing support for Taiwan, including at the United Nations General Assembly, the World Health Organization, the UN Framework Convention on Climate Change Conference of the Parties, and the UN Ocean Conference. We have been deeply moved by this support. I thank President Whipps again for his high regard and support for Taiwan. I look forward to the cooperative ties between our nations continuing to expand into even broader areas. This will allow our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. President Whipps then delivered remarks, saying that it is a great honor for him to be here, standing in this historic place – a symbol of strength, resilience, and the democratic spirit of the Taiwanese people. On behalf of the government of Palau, President Whipps extended heartfelt gratitude to President Lai and the people of Taiwan for the warm welcome and gracious hospitality toward him and his delegation. President Whipps then extended sincere thanks for President Lai’s visit to Palau in December – his second visit to Palau – and for having Minister of Foreign Affairs Lin Chia-lung (林佳龍) attend his inauguration as a special envoy. He added that this also marks his third visit to Taiwan since President Lai took office, saying that this demonstrates the strength of our growing relationship. President Whipps indicated that the increased engagements and numerous entrepreneurs that President Lai has brought from Taiwan to Palau have resulted in fruitful visits, and that President Lai’s leadership represents hope, unity, and continued advancement of democracy and freedom, not only for Taiwan, but for the broader Indo-Pacific region. President Whipps went on to say that this visit to Taiwan reaffirms our deep friendship and shared values between our two nations. He emphasized that Palau and Taiwan are bound not by proximity, but by purpose, in that both are island nations and believe in human dignity, the rule of law, and the right of our people to determine their own futures. President Whipps stated that although we are celebrating 26 years of diplomatic relations, Taiwan has been a steadfast partner of Palau for decades, and that one of the MOUs they are signing further extends the relationship that began in December of 1984. From healthcare and medical missions, to education, agriculture, renewable energy, infrastructure, the private sector, tourism development, and climate resilience, he said, our cooperation has improved lives and strengthened our communities. The president also indicated that during the COVID-19 pandemic, Taiwan stood with Palau, noting that both sides began the tourism bubble, and that President Lai came to Palau to reopen the two weekly direct flights that have now been increased to four. That solidarity will never be forgotten, he said. As the world faces growing uncertainty and complex challenges from climate change to global tensions, President Whipps said, this friendship becomes even more vital. The president concluded his remarks by expressing hope that both nations continue to stand together, work together, and advocate together for peace, prosperity, and for the right of small nations to be seen, heard, and respected. After the bilateral talks, President Lai and President Whipps witnessed the signing of the technical cooperation agreement and the agreement on diplomatic staff training cooperation by Minister Lin and Palauan Minister of State Gustav Aitaro. The delegation also included Palauan Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.  

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

    Details
    2025-05-13
    President Lai interviewed by Japan’s Nikkei  
    In a recent interview with Japan’s Nikkei, President Lai Ching-te responded to questions regarding Taiwan-Japan and Taiwan-United States relations, cross-strait relations, the semiconductor industry, and the international economic and trade landscape. The interview was published by Nikkei on May 13. President Lai indicated that Nikkei, Inc. is a global news organization that has received significant recognition both domestically and internationally, and that he is deeply honored to be interviewed by Nikkei and grateful for their invitation. The president said that he would like to take this rare opportunity to thank Japan’s government, National Diet, society, and public for their longstanding support for Taiwan. Noting that current Prime Minister Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio have all strongly supported Taiwan, he said that the peoples of Taiwan and Japan also have a deep mutual affection, and that through the interview, he hopes to enhance the bilateral relationship between Taiwan and Japan, deepen the affection between our peoples, and foster more future cooperation to promote prosperity and development in both countries. In response to questions raised on the free trade system and the recent tariff war, President Lai indicated that over the past few decades, the free economy headed by the Western world and led by the US has brought economic prosperity and political stability to Taiwan and Japan. At the same time, he said, we have also learned or followed many Western values. The president said he believes that Taiwan and Japan are exemplary students, but some countries are not. Therefore, he said, the biggest crisis right now is China, which exploits the free trade system to engage in plagiarism and counterfeiting, infringe on intellectual property rights, and even provide massive government subsidies that facilitate the dumping of low-priced goods worldwide, which has a major impact on many countries including Japan and Taiwan. If this kind of unfair trade is not resolved, he said, the stable societies and economic prosperity we have painstakingly built over decades, as well as some of the values we pursue, could be destroyed. Therefore, President Lai said he thinks it is worthwhile for us to observe the recent willingness of the US to address unfair trade, and if necessary, offer assistance. President Lai emphasized that the national strategic plan for Taiwanese industries is for them to be rooted in Taiwan while expanding their global presence and marketing worldwide. Therefore, he said, while the 32 percent tariff increase imposed by the US on Taiwan is indeed a major challenge, we are willing to address it seriously and find opportunities within that challenge, making Taiwan’s strategic plan for industry even more comprehensive. When asked about Taiwan’s trade arrangements, President Lai indicated that in 2010 China accounted for 83.8 percent of Taiwan’s outbound investment, but last year it accounted for only 7.5 percent. In 2020, he went on, 43.9 percent of Taiwan’s exports went to China, but that figure dropped to 31.7 percent in 2024. The president said that we have systematically transferred investments from Taiwanese enterprises to Japan, Southeast Asia, Europe, and the US. Therefore, he said, last year Taiwan’s largest outbound investment was in the US, accounting for roughly 40 percent of the total. Nevertheless, only 23.4 percent of Taiwanese products were sold to the US, with 76.6 percent sold to places other than the US, he said.  The president emphasized that we don’t want to put all our eggs in one basket, and hope to establish a global presence. Under these circumstances, he said, Taiwan is very eager to cooperate with Japan. President Lai stated that at this moment, the Indo-Pacific and international community really need Japan’s leadership, especially to make the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) excel in its functions, and also requested Japan to support Taiwan’s CPTPP accession. The president said that Taiwan hopes to sign an Economic Partnership Agreement (EPA) with Japan to build closer ties in economic trade and promote further investment, and that we also hope to strengthen relations with the European Union, and even other regions. Currently, he said, we are proposing an initiative on global semiconductor supply chain partnerships for democracies, because the semiconductor industry is an ecosystem. The president raised the example that Japan has materials, equipment, and technology; the US has IC design and marketing; Taiwan has production and manufacturing; and the Netherlands excels in equipment, saying we therefore hope to leverage Taiwan’s advantages in production and manufacturing to connect the democratic community and establish a global non-red supply chain for semiconductors, ensuring further world prosperity and development in the future, and ensuring that free trade can continue to function without being affected by dumping, which would undermine future prosperity and development. The president stated that as we want industries to expand their global presence and market internationally while staying rooted here in Taiwan, having industries rooted in Taiwan involves promoting pay raises for employees, tax cuts, and deregulation, as well as promoting enterprise investment tax credits. He said that we have also proposed Three Major Programs for Investing in Taiwan for Taiwanese enterprises and are actively resolving issues regarding access to water, electricity, land, human resources, and professional talent so that the business community can return to Taiwan to invest, or enterprises in Taiwan can increase their investments. He went on to say that we are also actively signing bilateral investment agreements with friends and allies so that when our companies invest and expand their presence abroad, their rights and interests as investors are ensured.  President Lai mentioned that Taiwan hopes to sign an EPA with Japan, similar to the Taiwan-US Initiative on 21st-Century Trade and the Economic Prosperity Partnership Dialogue, or the Enhanced Trade Partnership arrangement with the United Kingdom, or similar agreements or memorandums of understanding with Canada and Australia that allow Taiwanese products to be marketed worldwide, concluding that those are our overall arrangements. Looking at the history of Taiwan’s industrial development, President Lai indicated, of course it began in Taiwan, and then moved west to China and south to Southeast Asia. He said that we hope to take this opportunity to strengthen cooperation with Japan to the north, across the Pacific Ocean to the east, and develop the North American market, making Taiwan’s industries even stronger. In other words, he said, while Taiwan sees the current reciprocal tariffs imposed by the US as a kind of challenge, it also views these changes positively. On the topic of pressure from China affecting Taiwan’s participation in international frameworks such as the CPTPP or its signing of an EPA with Japan, President Lai responded that the key point is what kind of attitude we should adopt in viewing China’s acts of oppression. If we act based on our belief in free trade, he said, or on the universal values we pursue – democracy, freedom, and respect for human rights – and also on the understanding that a bilateral trade agreement between Taiwan and Japan would contribute to the economic prosperity and development of both countries, or that Taiwan’s accession to the CPTPP would benefit progress and prosperity in the Indo-Pacific region, then he hopes that friends and allies will strongly support us. On the Trump administration’s intentions regarding the reciprocal tariff policy and the possibility of taxing semiconductors, as well as how Taiwan plans to respond, President Lai said that since President Trump took office, he has paid close attention to interviews with both him and his staff. The president said that several of President Trump’s main intentions are: First, he wants to address the US fiscal situation. For example, President Lai said, while the US GDP is about US$29 trillion annually, its national debt stands at US$36 trillion, which is roughly 124 percent of GDP. Second, he went on, annual government spending exceeds US$6.5 trillion, but revenues are only around US$4.5 trillion, resulting in a nearly US$2 trillion deficit each year, about 7 percent of GDP. Third, he said, the US pays nearly US$1.2 trillion in interest annually, which exceeds the US$1 trillion defense budget and accounts for more than 3 percent of GDP. Fourth, President Trump still wants to implement tax cuts, aiming to reduce taxes for 85 percent of Americans, he said, noting that this would cost between US$500 billion and US$1 trillion. These points, President Lai said, illustrate his first goal: solving the fiscal problem. President Lai went on to say that second, the US feels the threat of China and believes that reindustrialization is essential; without reindustrialization, the US risks a growing gap in industrial capacity compared to China. Third, he said, in this era of global smart technology, President Trump wants to lead the nation to become a world center of AI. Fourth, he aims to ensure world peace and prevent future wars, President Lai said. In regard to what the US seeks to achieve, he said he believes these four areas form the core of the Trump administration’s intentions, and that is why President Trump has raised tariffs, demanded that trading partners purchase more American goods, and encouraged friendly and allied nations to invest in the US, all in order to achieve these goals. President Lai indicated that the 32 percent reciprocal tariff poses a critical challenge for Taiwan, and we must treat it seriously. He said that our approach is not confrontation, but negotiation to reduce tariffs, and that we have also agreed to measures such as procurement, investment, resolving non-tariff trade barriers, and addressing origin washing in order to effectively reduce the trade deficit between Taiwan and the US. Of course, he said, through this negotiation process, we also hope to turn challenges into opportunities. The president said that first, we aim to start negotiations from the proposal of zero tariffs and seek to establish a bilateral trade agreement with the US. Second, he went on, we hope to support US reindustrialization and its aim to become a world AI hub through investment, while simultaneously upgrading and transforming Taiwan’s industries, which would help further integrate Taiwan’s industries into the US economic structure, ensuring Taiwan’s long-term development.  President Lai emphasized again that Taiwan’s national industrial strategy is for industries to stay firmly rooted in Taiwan while expanding their global presence and marketing worldwide. He repeated that we have gone from moving westward across the Taiwan Strait, to shifting southbound, to working closer northward with Japan, and now the time is ripe for us to expand eastward by investing in North America. In other words, he said, while we take this challenge seriously to protect national interests and ensure that no industry is sacrificed, we also hope these negotiations will lead to deeper Taiwan-US trade relations through Taiwanese investment in the US, concluding that these are our expectations. The president stated that naturally, the reciprocal tariffs imposed by the US will have an impact on Taiwanese industries, so in response, the Taiwanese government has already proposed support measures for affected industries totaling NT$93 billion. In addition, he said, we have outlined broader needs for Taiwan’s long-term development, which will be covered by a special budget proposal of NT$410 billion, noting that this has already been approved by the Executive Yuan and will be submitted to the Legislative Yuan for review. He said that this special budget proposal addresses four main areas: supporting industries, stabilizing employment, protecting people’s livelihoods, and enhancing resilience. As for tariffs on semiconductors, President Lai said, Taiwan Semiconductor Manufacturing Company (TSMC) has committed to investing in the US at the request of its customers. He said he believes that TSMC’s industry chain will follow suit, and that these are concrete actions that are unrelated to tariffs. However, he said, if the US were to invoke Section 232 and impose tariffs on semiconductors or related industries, it would discourage Taiwanese semiconductor and ICT investments in the US, and that we will make this position clear to the US going forward. President Lai indicated that among Taiwan’s exports to the US, there are two main categories: ICT products and electronic components, which together account for 65.4 percent. These are essential to the US, he said, unlike final goods such as cups, tables, or mattresses. He went on to say that what Taiwan sells to the US are the technological products required by AI designers like NVIDIA, AMD, Amazon, Google, and Apple, and that therefore, we will make sure the US understands clearly that we are not exporting end products, but the high-tech components necessary for the US to reindustrialize and become a global AI center. Furthermore, the president said, Taiwan is also willing to increase its defense budget and military procurement. He stated that Taiwan is committed to defending itself and is strongly willing to cooperate with friends and allies to ensure regional peace and stability, and that this is also something President Trump hopes to see. Asked whether TSMC’s fabs overseas could weaken Taiwan’s strategic position as a key hub for semiconductor manufacturing, and whether that could then give other countries fewer incentives to protect Taiwan, President Lai responded by saying that political leaders around the world including Japan’s Prime Minister Ishiba and former Prime Ministers Abe, Suga, and Kishida have emphasized, at the G7 and other major international fora, that peace and stability in the Taiwan Strait are essential for global security and prosperity. In other words, he explained, the international community cares about Taiwan and supports peace and stability in the Taiwan Strait because Taiwan is located in the first island chain in the Indo-Pacific, directly facing China. He pointed out that if Taiwan is not protected, China’s expansionist ambitions will certainly grow, which would impact the current rules-based international order. Thus, he said, the international community willingly cares about Taiwan and supports stability in the Taiwan Strait – that is the reason, and it has no direct connection with TSMC. He noted that after all, TSMC has not made investments in that many countries, stressing that, on that point, it is clear. President Lai said that TSMC’s investments in Japan, Europe, and the US are all natural, normal economic and investment activities. He said that Taiwan is a democratic country whose society is based on the rule of law, so when Taiwanese companies need to invest around the world for business needs, the government will support those investments in principle so long as they do not harm national interests. President Lai said that after TSMC Chairman C.C. Wei (魏哲家) held a press conference with President Trump to announce the investment in the US, Chairman Wei returned to Taiwan to hold a press conference with him at the Presidential Office, where the chairman explained to the Taiwanese public that TSMC’s R&D center will remain in Taiwan and that the facilities it has already committed to investing in here will not change and will not be affected. So, the president explained, to put it another way, TSMC will not be weakened by its investment in the US. He further emphasized that Taiwan has strengths in semiconductor manufacturing and is very willing to work alongside other democratic countries to promote the next stage of global prosperity and development. A question was raised about which side should be chosen between the US and China, under the current perception of a return to the Cold War, with East and West facing off as two opposing blocs. President Lai responded by saying that some experts and scholars describe the current situation as entering a new Cold War era between democratic and authoritarian camps; others assert that the war has already begun, including information warfare, economic and trade wars, and the ongoing wars in Europe – the Russo-Ukrainian War – and the Middle East, and the Israel-Hamas conflict. The president said that these are all matters experts have cautioned about, noting that he is not a historian and so will not attempt to define today’s political situation from an academic standpoint. However, he said, he believes that every country has a choice, which is to say, Taiwan, Japan, or any other nation does not necessarily have to choose between the US and China. What we are deciding, he said, is whether our country will maintain a democratic constitutional system or regress into an authoritarian regime, and this is essentially a choice of values – not merely a choice between two major powers. President Lai said that Taiwan’s situation is different from other countries because we face a direct threat from China. He pointed out that we have experienced military conflicts such as the August 23 Artillery Battle and the Battle of Guningtou – actual wars between the Republic of China and the People’s Republic of China. He said that China’s ambition to annex Taiwan has never wavered, and that today, China’s political and military intimidation, as well as internal united front infiltration, are growing increasingly intense. Therefore, he underlined, to defend democracy and sovereignty, protect our free and democratic system, and ensure the safety of our people’s lives and property, Taiwan’s choice is clear. President Lai said that China’s military exercises are not limited to the Taiwan Strait, and include the East China Sea, South China Sea, and even the Sea of Japan, as well as areas around Korea and Australia. Emphasizing that Taiwan, Japan, Australia, and the Philippines are all democratic nations, the president said that Taiwan’s choice is clear, and that he believes Japan also has no other choice. We are all democratic countries, he said, whose people have long pursued the universal values of democracy, freedom, and respect for human rights, and that is what is most important. Regarding the intensifying tensions between the US and China, the president was asked what roles Taiwan and Japan can play. President Lai responded that in his view, Japan is a powerful nation, and he sincerely hopes that Japan can take a leading role amid these changes in the international landscape. He said he believes that countries in the Indo-Pacific region are also willing to respond. He suggested several areas where we can work together: first, democracy and peace; second, innovation and prosperity; and third, justice and sustainability. President Lai stated that in the face of authoritarian threats, we should let peace be our beacon and democracy our compass as we respond to the challenges posed by authoritarian states. Second, he added, as the world enters an era characterized by the comprehensive adoption of smart technologies, Japan and Taiwan should collaborate in the field of innovation to further drive regional prosperity and development. Third, he continued, is justice and sustainability. He explained that because international society still has many issues that need to be resolved, Taiwan and Japan can cooperate for the public good, helping countries in need around the world, and cooperating to address climate change and achieve net-zero transition by 2050. Asked whether he hopes that the US will continue to be a leader in the liberal democratic system, President Lai responded by saying that although the US severed diplomatic ties with the Republic of China, for the past few decades it has assisted Taiwan in various areas such as national defense, security, and countering threats from China, based on the Taiwan Relations Act and the Six Assurances. He pointed out that Taiwan has also benefited, directly and indirectly, in terms of politics, democracy, and economic prosperity thanks to the US, and so Taiwan naturally hopes that the US remains strong and continues to lead the world. President Lai said that when the US encounters difficulties, whether financial difficulties, reindustrialization issues, or becoming a global center for AI, and hopes to receive support from its friends and allies to jointly safeguard regional peace and stability, Taiwan is willing to stand together for a common cause. If the US remains strong, he said, that helps Taiwan, the Indo-Pacific region, and the world as a whole. Noting that while the vital role of the US on the global stage has not changed, the president said that after decades of shouldering global responsibilities, it has encountered some issues. Now, it has to make adjustments, he said, stating his firm belief that it will do so swiftly, and quickly resume its leadership role in the world. Asked to comment on remarks he made during his election campaign that he would like to invite China’s President Xi Jinping for bubble tea, President Lai responded that Taiwan is a peace-loving country, and Taiwanese society is inherently kind, and therefore we hope to get along peacefully with China, living in peace and mutual prosperity. So, during his term as vice president, he said, he was expressing the goodwill of Taiwanese society. Noting that while he of course understands that China’s President Xi would have certain difficulties in accepting this, he emphasized that the goodwill of Taiwanese society has always existed. If China reflects on the past two or three decades, he said, it will see that its economy was able to develop with Taiwan as its largest foreign investor. The president explained that every year, 1 to 2 million Taiwanese were starting businesses or investing in China, creating numerous job opportunities and stabilizing Chinese society. While many Taiwanese businesses have profited, he said, Chinese society has benefited even more. He added that every time a natural disaster occurs, if China is in need, Taiwanese always offer donations. Therefore, the president said, he hopes that China can face the reality of the Republic of China’s existence and understand that the people of Taiwan hope to continue living free and democratic lives with respect for human rights. He also expressed hope that China can pay attention to the goodwill of Taiwanese society. He underlined that we have not abandoned the notion that as long as there is parity, dignity, exchange, and cooperation, the goodwill of choosing dialogue over confrontation and exchange over containment will always exist. Asked for his view on the national security reforms in response to China’s espionage activities and infiltration attempts, President Lai said that China’s united front infiltration activities in Taiwan are indeed very serious. He said that China’s ambitions to annex Taiwan rely not only on the use of political and military intimidation, but also on its long-term united front and infiltration activities in Taiwanese society. Recently, he pointed out, the Taiwan High Prosecutors Office of the Ministry of Justice prosecuted 64 spies, which is three times the number in 2021, and in addition to active-duty military personnel, many retired military personnel were also indicted. Moreover, he added, Taiwan also has the Chinese Unification Promotion Party, which has a background in organized crime, Rehabilitation Alliance Party, which was established by retired military personnel, and Republic of China Taiwan Military Government, which is also composed of retired generals. He explained that these are all China’s front organizations, and they plan one day to engage in collaboration within Taiwan, which shows the seriousness of China’s infiltration in Taiwan. Therefore, the president said, in the recent past he convened a high-level national security meeting and proposed 17 response strategies across five areas. He then enumerated the five areas: first, to address China’s threat to Taiwan’s sovereignty; second, to respond to the threat of China’s obscuring the Taiwanese people’s sense of national identity; third, to respond to the threat of China’s infiltrating and recruiting members of the ROC Armed Forces as spies; fourth, to respond to the threat of China’s infiltration of Taiwanese society through societal exchanges and united front work; and fifth, to respond to the threat of China using “integration plans” to draw Taiwan’s young people and Taiwanese businesses into its united front activities. In response to these five major threats, he said, he has proposed 17 response strategies, one of which being to restore the military trial system. He explained that if active-duty military personnel commit military crimes, they must be subject to military trials, and said that this expresses the Taiwanese government’s determination to respond to China’s united front infiltration and the subversion of Taiwan. Responding to the question of which actions Taiwan can take to guard against China’s threats to regional security, President Lai said that many people are worried that the increasingly tense situation may lead to accidental conflict and the outbreak of war. He stated his own view that Taiwan is committed to facing China’s various threats with caution. Taiwan is never the source of these problems, he emphasized, and if there is an accidental conflict and it turns into a full-scale war, it will certainly be a deliberate act by China using an accidental conflict as a pretext. He said that when China expanded its military presence in the East China Sea and South China Sea, the international community did not stop it; when China conducted exercises in the Taiwan Strait, the international community did not take strong measures to prevent this from happening. Now, he continued, China is conducting gray-zone exercises, which are aggressions against not only the Taiwan Strait, the South China Sea, and the East China Sea, but also extending to the Sea of Japan and waters near South Korea. He said that at this moment, Taiwan, the Philippines, Japan, and even the US should face these developments candidly and seriously, and we must exhibit unity and cooperation to prevent China’s gray-zone aggression from continuing to expand and prevent China from shifting from a military exercise to combat. If no action is taken now, the president said, the situation may become increasingly serious. Asked about the view of some US analysts who point out that China will have the ability to invade Taiwan around 2027, President Lai responded that Taiwan, as the country on the receiving end of threats and aggression, must plan for the worst and make the best preparations. He recalled a famous saying from the armed forces: “Do not count on the enemy not showing up; count on being ready should it strike.” This is why, he said, he proposed the Four Pillars of Peace action plan. First, he said, we must strengthen our national defense. Second, he added, we must strengthen economic resilience, adding that not only must our economy remain strong, but it must also be resilient, and that we cannot put all our eggs in the same basket, in China, as we have done in the past. Third, he continued, we must stand shoulder to shoulder with friends and allies such as Japan and the US, as well as the democratic community, and we must demonstrate the strength of deterrence to prevent China from making the wrong judgment. Fourth, he emphasized, as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China and seek cross-strait peace and mutual prosperity through exchanges and cooperation. Regarding intensifying US-China confrontation, the president was asked in which areas he thinks Taiwan and Japan should strengthen cooperation; with Japan’s Ishiba administration also being a minority government, the president was asked for his expectations for the Ishiba administration. President Lai said that in the face of rapid and tremendous changes in the political situation, every government faces considerable challenges, especially for minority governments, but the Japanese government led by Prime Minister Ishiba has quite adequately responded with various strategies. Furthermore, he said, Japan is different from Taiwan, explaining that although Japan’s ruling party lacks a majority, political parties in Japan engage in competition domestically while exhibiting unity externally. He said that Taiwan’s situation is more challenging, because the ruling and opposition parties hold different views on the direction of the country, due to differences in national identity. The president expressed his hope that in the future Taiwan and Japan will enjoy even more comprehensive cooperation. He stated that he has always believed that deep historical bonds connect Taiwan and Japan. Over the past several decades, he said, when encountering natural disasters and tragedies, our two nations have assisted each other with mutual care and support. He said that the affection between the people of Taiwan and Japan is like that of a family. Pointing out that both countries face the threat of authoritarianism, he said that we share a mission to safeguard universal values such as democracy, freedom, and respect for human rights. The president said that our two countries should be more open to cooperation in various areas to maintain regional peace and stability as well as to strengthen cooperation in economic and industrial development, such as for semiconductor industry chains and everyday applications of AI, including robots and drones, adding that we can also cooperate on climate change response, such as in hydrogen energy and other strategies. He said our two countries should also continue to strengthen people-to-people exchanges. He then took the opportunity to once again invite our good friends from Japan to visit Taiwan for tourism and learn more about Taiwan, saying that the Taiwanese people wholeheartedly welcome our Japanese friends.  

    Details
    2025-05-09
    President Lai extends congratulations on election of His Holiness Pope Leo XIV  
    Following the successful election of the 267th pope of the Roman Catholic Church, His Holiness Pope Leo XIV, on May 8, President Lai Ching-te extended sincere congratulations on behalf of the people and government of Taiwan, including its Catholic community. The president stated that he looks forward to working with Pope Leo XIV to continue deepening cooperation in the area of humanitarian aid and jointly defend the universal value of religious freedom, expanding and strengthening the alliance between Taiwan and the Vatican. Upon learning of the election results, President Lai directed the Republic of China (Taiwan) Embassy to the Holy See to convey a message of congratulations. In the message, President Lai extended sincere congratulations to Pope Leo XIV on behalf of the people and government of Taiwan, including its Catholic community, expressing confidence that His Holiness will lead the Catholic Church and its 1.4 billion followers worldwide with profound wisdom. President Lai also emphasized that Taiwan looks forward to continuing to work alongside the Holy See in the shared pursuit of peace, justice, religious freedom, solidarity, friendship, and human dignity. This year marks the 83rd anniversary of the establishment of diplomatic ties between Taiwan and the Vatican. Enjoying a strong alliance, Taiwan and the Vatican share such universal values as freedom of religion, respect for human rights, peace, and benevolence, and conduct close exchanges. Taiwan will continue to engage in exchanges and cooperation with the Holy See, further strengthen bilateral relations, and work alongside the Holy See to contribute even more to the world.  

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

    MIL OSI Asia Pacific News

  • MIL-OSI United Kingdom: Museum takes time to pay striking tribute to city’s classic clocks

    Source: City of Leeds

    Beautiful vintage clocks will take museum visitors in Leeds on a journey through time this week.

    The carefully curated collection of historic timepieces will be going on show at the Leeds Discovery Centre during a special family workshop exploring the art of clockmaking while looking at some of the museum’s huge collection.

    With examples including cuckoo clocks, long case clocks, better known as Grandfather clocks, and even retro digital bedside alarm clocks, the event will give visitors of all ages the opportunity to find out about some of the city’s esteemed clockmakers while getting an up-close look at their work and taking part in clock-themed some craft activities.

    Among the pieces featured in the event will be elaborate painted clock faces by Leeds artisans J C Elliott and G Winter, who both had local workshops in the late 19th Century, when many such small, family-run shops would have been located in big cities like Leeds.

    An intricate, early 20th Century Swiss-made wooden cuckoo clock and some classic examples of 19th and 20th Century carriage clocks are also included. They will be shown alongside a more modern, 1970s Minitman digital bedside alarm clock.

    Kitty Ross, Leeds Museums and Galleries’ curator of social history, said: “The variety of the timepieces in our collection really demonstrates how keeping time has been a blend of form and function for generations, with people not only wanting an accurate and reliable way to tell the time, but also a decorative and often beautiful one too.

    “This led to a wealth of remarkably talented and artistic clockmakers honing their craft in cities like Leeds, often passing on their skills to their descendants and forming highly respected family businesses which made a lasting contribution to the city.

    “Their work has very much stood the test of time and it’s a tribute to their skill that we’re still able to see and appreciate their work today and share it with visitors and families.”

    Other notable Leeds clockmakers include the famed Potts and Sons, established in Pudsey in 1833 by William Potts.

    As the company grew, they supplied 1,568 clocks for locations including at Leeds Town Hall and Leeds Corn Exchange.

    Potts clocks could also be found at Lerwick Town Hall in the Shetland Islands, the Roman Catholic Church Hall in Melbourne, Australia and the post office in Port Lyttleton, New Zealand.

    As well as learning about clockmakers of the past, visitors and families at this week’s workshop will also have the chance to get hands on and make their own wall clock to take home.

    Councillor Salma Arif, Leeds City Council’s executive member for adult social care, active lifestyles and culture, said: “Leeds has been home to so many talented artisans over the years who have really left their mark on the city and it’s fitting that we’re able to pay tribute to their efforts today.

    “The work of our museums and galleries in preserving and celebrating these important parts of our local heritage also enables us to continue to learn and be inspired by the amazing story of Leeds.”

    Turn Back the Clock takes place at Leeds Discovery Centre on May 28 on a give what you can basis, where visitors choose to pay what they can.

    More information and how to book can be found at: Turn Back the Clock | Leeds Museums and Galleries | Days out and exhibitions

    ENDS

    MIL OSI United Kingdom

  • MIL-OSI: The Eclipse Foundation and the Adoptium Working Group Announce the Latest Eclipse Temurin Open Source Java SE Runtime

    Source: GlobeNewswire (MIL-OSI)

    BRUSSELS, May 27, 2025 (GLOBE NEWSWIRE) — The Eclipse Foundation, a leading open source foundation, in collaboration with the Adoptium Working Group, today announced the latest release of Eclipse Temurin’s Java SE runtime. As organisations around the world reevaluate their approach to Java, given recent changes in licensing and support costs, Eclipse Temurin continues to see incredible growth, having just surpassed 600 million downloads, rapidly approaching double the 380 million recorded at this time last year. This release improves stability, security, and platform coverage, including updates to Windows AWT behavior, Docker image cleanup, and expanded support for AIX ppc64 systems. These updates reinforce Temurin’s focus on platform relevance, modernisation, and enterprise-grade stability.

    “Eclipse Temurin’s incredible growth reflects a clear shift in how enterprises are managing their Java enterprise application infrastructure. Organisations are seeking secure, high-quality, open source, and vendor-neutral alternatives, and Temurin delivers just that,” said Mike Milinkovich, executive director of the Eclipse Foundation. “With this latest release, we’re continuing to deliver the quality and assurance organisations expect from commercial offerings, while also introducing new ways for the community to support and sustain this momentum.”

    The latest Eclipse Temurin release (8u452, 11.0.27, 17.0.15, 21.0.7, 24.0.1) includes:

    • Reverted AWT headless detection on Windows to avoid regressions.
    • Removed outdated Docker images for Windows ServerCore & NanoCore (1809).
    • Added AIX ppc64 support for JDK 24, improving enterprise platform reach.
    • Delayed Windows aarch64 build for JDK 24 due to unresolved test issues.

    In addition to the latest release, the Adoptium Working Group is also introducing two related initiatives to educate enterprises and ensure Eclipse Temurin’s continued growth remains sustainable. First, the Working Group released a new ROI calculator that helps organisations quantify the financial impact of switching to open source Java, with enterprises reporting average annual savings of over $1.6 million after migrating from paid Java SE options to open source solutions like Eclipse Temurin. The Working Group also launched the Temurin Sustainer Program, which encourages reinvestment in the technology infrastructure that powers mission-critical Java workloads.

    The Eclipse Temurin Sustainer Program invites enterprises benefiting from Temurin to contribute a portion of their savings back into the project. Contributions are not required, and supporters can choose from several flexible funding tiers based on their estimated savings and scale of usage. These funds support faster releases, security maintenance, and expanded test infrastructure. The Temurin ROI calculator, available here, provides personalised estimates of Java support cost savings for organisations of any size.

    The Temurin Sustainer Program is not just about cost efficiency but also about supporting one of the most critical elements of an enterprise’s technology stack. For enterprises relying on open source solutions like Eclipse Temurin, this program enables them to optimise their investment in Java and contribute to the broader innovation driving this ecosystem forward.

    The Eclipse AQAvit project is a prime example of how the Temurin Sustainer Program will continue to drive innovation, enabling smarter automation, better test coverage, and faster delivery across Java SE runtimes. Eclipse AQAvit™ is the quality and runtime branding evaluation project for Java SE runtimes and associated technology. During a release, it takes a functionally complete Java runtime and ensures that all the additional qualities are present that make it suitable for production use. Interested parties can learn about new and upcoming features here.

    About the Adoptium Working Group
    The Adoptium Working Group promotes and supports secure, high-quality, TCK-certified runtimes and associated technologies, backed by 84 dedicated contributors and 11 member companies, including Java ecosystem leaders and enterprise users. The Strategic Members of the Adoptium Working Group include Alibaba Cloud, Azul Systems, Google, Microsoft, Red Hat, and Rivos. The Adoptium Marketplace extends this leadership role and gives even more organisations a means of distributing their binaries.

    If your organisation is interested in participating in the Adoptium Working Group, you can view the Charter and Participation Agreement or email us at membership@eclipse.org. Companies can also participate as sponsors. Both membership and sponsorship help assure the sustainability of the Adoptium Working Group and certified open source runtimes for the developer community.

    About the Eclipse Foundation
    The Eclipse Foundation provides our global community of individuals and organisations with a business-friendly environment for open source software collaboration and innovation. We host the Eclipse IDE, Adoptium, Software Defined Vehicle, Jakarta EE, and over 420 open source projects, including runtimes, tools, specifications, and frameworks for cloud and edge applications, IoT, AI, automotive, systems engineering, open processor designs, and many others. Headquartered in Brussels, Belgium, the Eclipse Foundation is an international non-profit association supported by over 300 members. To learn more, follow us on social media @EclipseFdn, LinkedIn, or visit eclipse.org.
    Third-party trademarks mentioned are the property of their respective owners.

    Media contacts:
    Schwartz Public Relations (Germany)
    Gloria Huppert/Marita Bäumer
    Sendlinger Straße 42A
    80331 Munich
    EclipseFoundation@schwartzpr.de
    +49 (89) 211 871 -70/ -62

    514 Media Ltd (France, Italy, Spain)
    Benoit Simoneau
    benoit@514-media.com
    M: +44 (0) 7891 920 370

    Nichols Communications (Global Press Contact)
    Jay Nichols
    jay@nicholscomm.com
    +1 408-772-1551

    The MIL Network

  • MIL-OSI: Nokia accelerates mass market multi-Gig broadband with new high-density 25G PON line card

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia accelerates mass market multi-Gig broadband with new high-density 25G PON line card

    • The new 16-port line card solution is optimized for mass market 25G PON, ensuring multi-gigabit can be delivered in a cost-effective way to everyone without compromise.
    • Nokia’s 25G PON line card, based on the Quillion chipset, supports GPON, XGS, and 25G PON, providing flexible upgrade options that can future-proof fiber access networks.
    • 25G PON is the fastest, greenest and most cost-effective way to deliver multi-gig and 10G+ residential services.

    27 May 2025
    Espoo, Finland – Nokia today announced the launch of a new 25G PON high-density line card designed to deliver mass market, multi-gig, residential broadband services that users expect from a premium broadband experience. Supporting a diverse range of PON technology options, the new solution provides operators with a cost-effective way to deliver true 10Gb/s broadband services in a cost-effective way. The 16-port line card, based on Nokia’s Quillion chipset, supports GPON, XGS-PON, 25G PON and multi-PON variants like GPON + XGS-PON, XGS+25G PON and GPON + XGS + 25G PON on every port, giving operators the flexibility to seamlessly evolve with market demands.         

    The need for multi-gigabit is gaining momentum as operators look to move beyond providing sustained, average bandwidth toward differentiated services that can handle bursty, high-peak traffic demands and deliver superior customer experiences. End-users also increasingly seek high-speed upstream and downstream connectivity for real-time access to the cloud, gaming, home working and Wi-Fi 7. With 10G+ connectivity, games can be downloaded in minutes versus an hour with 1 Gigabit speeds, data and application in the cloud can be accessed instantaneously, and Wi-Fi 7 can be effectively backhauled.

    “We’re helping operators deliver unbeatable multi-gigabit experiences today with our new 25G PON solution. It combines speed, scale, and efficiency — giving service providers an efficient path to new revenue streams, without having to rethink their entire network,” said Geert Heyninck, General Manager, Broadband Networks at Nokia.

    “Being able to cost-effectively scale multi-gigabit and true 10Gb/s services across their entire residential subscriber base is critical for service providers in increasingly competitive broadband markets. The ability to offer the highest speeds, and handle high-peak traffic demands with the lowest latency and jitter is how providers will stand out from the crowd and keep subscribers happy,” said Jeff Heynen, Vice President, Broadband Access and Home Networking at Dell’Oro Group.

    Expanding Nokia’s comprehensive 25G PON portfolio, the new line cards can be paired with Nokia’s fiber modems to provide a future-proof, cost-efficient, end-to-end solution for mass market 25G PON residential and enterprise service deployments. Today 20 operators, including Google Fiber, and Hong Kong Broadband are using Nokia’s proven 25G PON technology to address demand for faster broadband speeds.

    “Fiber is a strategic asset that ensures our network can scale and adapt to changing customer needs. The ability to seamlessly upgrade from GPON to XGS-PON and now 25G PON, along with our unique coexistence technology, reflects our commitment to staying ahead of the curve. 25G PON strengthens our competitive position, enabling us to deliver high-speed, future-proof connectivity for businesses and an expanding base of residential customers who increasingly depend on fast, reliable broadband for cloud services, gaming, and immersive digital experiences,” said Veronica Bloodworth, EVP and Chief Network Officer at Frontier.

    Multimedia, technical information and related news 
    Web Page: Nokia 25G PON

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

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

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

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

    Follow us on social media
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    The MIL Network

  • MIL-OSI: Malaysia AI Workshop Led by Strategic Partner Spotlights Strong Demand for GPTBots’ Enterprise AI Solutions

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, Malaysia, May 27, 2025 (GLOBE NEWSWIRE) — A high-impact AI workshop hosted by Zanroo Malaysia Sdn. Bhd., a key strategic partner of GPTBots.ai, highlighted strong enterprise demand for practical AI solutions in Southeast Asia and demonstrated the GPTBots platform’s significant overseas market potential. The “Enabling the Future: Your Enterprise AI Journey Starts Here” event achieved an 81% attendance rate among senior business and IT leaders, indicating robust market readiness.

    The workshop successfully demonstrated the tangible value of AI, powered by GPTBots’ capabilities, moving beyond theory to real-world application.

    Workshop Highlights – GPTBots Platform Gains Traction with Key Industries:

    • Real-World AI in Action: Live demonstrations of GPTBots-powered solutions, such as ERP+CRM automation, instant multi-language customer service bots, and real-time analytics, drew strong interest from attendees.
    • Industry Engagement: Leaders from banking, retail, healthcare, and IT sectors experienced hands-on use of the no-code GPTBots platform, recognizing its ease of use and rapid deployment for their business needs.
    • Ecosystem-Powered Scalability: The event highlighted how GPTBots’ robust platform and partner-centric model, exemplified by Zanroo, enable enterprises to quickly deploy tailored AI agents and accelerate digital transformation.

    The enthusiastic response from key industry decision-makers in Kuala Lumpur affirms the effectiveness of GPTBots’ no-code platform and global partnership strategy, strengthening our resolve to expand internationally. In collaboration with partners such as Zanroo, GPTBots will continue to support enterprises worldwide in leveraging AI for transformative growth.

    About GPTBots.ai
    GPTBots.ai is a leading no-code AI agent platform, enabling enterprises worldwide to rapidly deploy AI solutions across diverse business scenarios. With industry-specific templates, multi-language support, and end-to-end delivery, GPTBots empowers businesses to simplify processes and unlock growth.

    About Zanroo Malaysia
    Zanroo, a Data Technology company, leverages online, offline, and real-time data to help businesses overcome challenges. Building on this foundation, Zanroo Malaysia provides data insights via its Data Analytic Hub and optimizes operations with proprietary tools, offering core Enterprise services like Social Listening, Monitoring, Community Management & Social Research.

    Media Contact:
    Silvia
    Senior Marketing Manager
    marketing@gptbots.ai

    The MIL Network

  • MIL-OSI United Kingdom: Preston Celebrates a Record-Breaking Year of Arts Culture and Community

    Source: City of Preston

    Preston City Council is proud to reflect on a landmark year for the Cultural Services Team, with over 3 million people engaged in city-wide events. In 2024/25, the team delivered wide-ranging social and economic benefits through a vibrant programme of arts, events, and community engagement.

    Preston City Council is proud to reflect on a landmark year for the Cultural Services Team, with over 3 million people engaged in city-wide events. In 2024/25, the team delivered wide-ranging social and economic benefits through a vibrant programme of arts, events, and community engagement.

    Preston City Council’s ongoing commitment to the arts is evident through its support of diverse community-led festivals including Preston Caribbean Carnival, Windrush Festival, Preston City Mela, Preston City Wrestling, Preston Pride, and Preston Jazz and Improvisation Festival, as well as support of many artists and creatives, and community based activities including partnerships with schools, youth groups, and wellbeing organisations such as The Foxton Centre and Blue Flamingo Cafe. In a year marked by connection, creativity, and inclusion, Preston’s cultural sector reached new heights:

    • Over 3 million people engaged in city-wide events
    • 185 artists and creatives engaged
    • 89 local events supported
    • A city centre footfall increase of 1.46 million, compared to 2.5 million in 2023, contributing to £6.04 million in additional visitor spending
    • 236 Harris volunteers contributed 1,549 hours of time
    • 203 community activities hosted across the city

    Councillor Hindle, Cabinet Member for Culture and Arts at Preston City Council, said:

    “Culture is the heartbeat of our city. This year’s successes show what’s possible when creativity is backed by community and commitment. From our nationally recognised festivals to grassroots workshops, Preston has embraced culture in all its forms. These achievements are a testament to the people of Preston: their passion, participation, and pride.”

    Major Highlights Include:

    BBC Radio 2 in the Park

    BBC Radio 2 in the Park in September brought global acts like Sting, Pet Shop Boys and Sugababes to Moor Park, attracting 68,100 attendees and generating over £5 million in visitor spending. The event spotlighted Preston nationally, boosting the local economy and supporting over 2,100 jobs.

    Encounter Festival 

    Encounter Festival explain what Encounter is cemented its status as a flagship event, uniting over 2,000 artists. Visitors described the festival as a ‘welcoming and inclusive space’ that brings communities together through shared experiences.

    The MET

    The MET supported dozens of creatives and became a space of community exchange. The MET has had a significant impact on the Preston community beyond its original objectives, serving as a dynamic space for social and cultural interaction. By bringing diverse events directly to the doorstep of key audience demographics – particularly those in lower socioeconomic backgrounds – has fostered stronger community ties.

    The Guild Lounge

    The Guild Lounge hosted thousands of visitors and the transformation into a 350-seat studio theatre saw 34 production companies supported, and 25 new roles created. Preston City Council remains committed to expanding cultural infrastructure and creating shared community spaces for year-round creative development.

    View the full Cultural Services Report for 2024/25 (PDF, 23 MB).

    MIL OSI United Kingdom

  • MIL-OSI Russia: More than 84 thousand guests visited the VI Moscow Interior and Design Week

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The 6th Moscow Interior and Design Week, one of the key and largest industry events in the country, has ended in the capital. Over 84,000 guests visited the exhibition at the Manezh Central Exhibition Hall from May 22 to 25.

    The next season was dedicated to understanding the theme of nature in design. The brightest participants of the May exhibition will present their products for the first time at the collective stand of the Moscow Interior and Design Week in China — at one of the world’s largest furniture exhibitions CIFF (The 56th China International Furniture Fair). It will be held from September 9 to 12 in Shanghai. Business sessions will be organized for Russian and Chinese companies — this will allow them to establish cooperation and find new partners.

    In addition, the best works of the participants will once again become part of the updated exhibition of the Moscow Design Museum “110. Russian Design 1915-2025” in the New Tretyakov Gallery, which will open in June. They will be selected for the “Modernity” section.

    1,220 Russian and foreign companies took part in the 6th Moscow Interior and Design Week. This is three times more than in the first season, which took place in 2022.

    More than half of them (636) are representatives of the capital. 312 are participants of the Made in Moscow project, whose stand occupied the central place of the exhibition. More than 50 capital companies were presented here. Guests could get acquainted with furniture, textiles, unusual ceramics and other interior items of brands participating in the Made in Moscow project. The stand also integrated solutions of technology companies – representatives of the Moscow Innovation Cluster.

    You can see the catalogues of all seasons of the Moscow Interior and Design Week on the project website.

    The exhibition has been one of the drivers of the Moscow market development since its first holding in 2022. The city provides comprehensive support to entrepreneurs: it provides various support measures, organizes special exhibitions and other events. Events such as Moscow Interior and Design Week contribute to the further development of the industry. The number of Moscow companies in this segment increased by 18.5 percent from 2021 to May 2025, reaching 21.5 thousand organizations.

    The total revenue of exhibiting companies from Moscow increased by 20 percent per year from 2021 to 2024, while the capital’s interior and design market grew by 13 percent per year. The number of employees of such exhibitors increased by 6.3 percent per year during this time, and the number of employees of all city organizations in this area grew by 2.9 percent per year.

    The exhibition is held twice a year and has already become a platform for Muscovites and guests of the capital to get acquainted with a large number of companies from all over the country. Independent selection of participants by an expert council allows the most interesting products to be presented and provides access to a wide audience and market even for young and small brands.

    In addition to domestic brands, visitors could get acquainted with the products and solutions of 46 companies and designers from 15 countries. For example, representatives of China and the UAE participated in the exhibition with their national stands this year. The Celestial Empire brought together the works of famous designers that reflected the connection of man with the surrounding world. The stand of the United Arab Emirates presented an exclusive exposition emphasizing the rethinking of the region’s rich craft heritage through modern design solutions.

    The exhibition also featured a special international session. It brought together 50 export-oriented Russian enterprises, including representatives of the Moscow Export Center programs and participants of the Moscow Interior and Design Week, as well as 10 importing companies from Saudi Arabia, Egypt and Morocco. The event allowed for establishing trade relations with international partners, concluding profitable export contracts and agreeing on the implementation of large-scale joint projects.

    Sergei Sobyanin told how Moscow helps the capital’s business develop

    Traditionally, the platform featured well-known entrepreneurs, designers and architects — more than 180 experts developing the industry. World-class stars also took part: architect Hussam Shakuf, who worked for more than 17 years in the famous architectural firm of Zaha Hadid, as well as Reem bin Karam, one of the world’s leading experts in the field of cultural entrepreneurship and women’s leadership.

    In the consultation area, guests could get advice on home improvement from professional designers, as well as take part in master classes, listen to lectures by Russian and international stars of the industry, sign up for a tour of the Moscow Design Museum exhibition or a real production facility with the support of the Day Without Turnstiles project. In addition, this season, for the first time, a special loyalty program was launched, which will be available after the event. It allows [to purchase products from participating companies at a discount.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/154390073/

    MIL OSI Russia News

  • MIL-OSI: Cardano Foundation and Switzerland for UNHCR cooperate in Industry-First ETP That Funds Refugee Support Through Crypto Staking, Geneva, Switzerland

    Source: GlobeNewswire (MIL-OSI)

     With over 100 million people forcibly displaced worldwide, the humanitarian system faces unprecedented challenges in funding essential services. In response, an innovative financial product—the Cardano Impact for UNHCR ETP (CASL)—launches on 28 May on the SIX Swiss Exchange, creating a bridge between institutional capital and humanitarian relief through blockchain.

    The CASL ETP (Ticker: CASL | ISIN: CH1327686056) is the first-ever regulated exchange-traded product that converts blockchain staking rewards into continuous funding for UNHCR, the UN Refugee Agency. The product offers investors exposure to Cardano (ADA), while automatically donating 100% of staking rewards—not principal—toward field operations supporting refugees across over 135 countries, including Syria, Sudan, and Venezuela.

    “This launch represents a world first in sustainable finance and humanitarian aid,” said Oliver Anselmo, Deputy Executive Director at Switzerland for UNHCR. “It transforms passive investment returns into a recurring, scalable stream of support for people who have lost everything.”

    Quantifying Impact

    Based on current ADA staking yields (~3.5% APY) and projections of initial fund inflows, the CASL ETP could generate $1.5 to $2 million in annual donations with $50 million in assets under management—funds that directly power UNHCR’s emergency response and innovative refugee programs.

    Industry-First Technical and Regulatory Design

    Structured by issuance.swiss AG and operated under Swiss regulatory approval, CASL is physically backed 1:1 by ADA, with a 1.5% management fee. It bypasses crypto-native complexities through a familiar ISIN, allowing institutions to invest using USD, EUR, or CHF—with no wallets, private keys, or blockchain knowledge required.

    “CASL is an industry-first that merges full regulatory compliance, institutional-grade staking infrastructure, and humanitarian aid in one product,” said Laurent Kssis, CIO at issuance.swiss AG. “We’ve eliminated the operational barriers—from fiat on-ramps to staking—and embedded impact at the protocol layer of capital allocation.”

    Powered by Trusted Partners

    Custody and staking are operated by Taurus SA, a FINMA-regulated securities firm and leader in digital asset infrastructure, based in Geneva, Switzerland. ADA contributions to the underlying stake pool include 3.5 million ADA from the Cardano Foundation, alongside more than 200 delegations of holdings from the HOSKY team and their fans for a total amount of 6.3 million ADA, underscoring community trust and sustainability.

    “Our infrastructure secures the ADA and operates staking pools to maximize both yield and impact,” said Lamine Brahimi, Managing Partner at Taurus SA. “We are extremely proud to extend our partnership with UNHCR for Switzerland and with Cardano, and to demonstrate how innovation can be a force for good by providing support to forcibly displaced people.”

    Why Cardano? Why UNHCR?

    From funding streams to digital ID, one thing is clear: blockchain has the potential to be a great leveler, providing innovative ways of solving some of the administrative problems that make seeking refuge even harder. With the technology and use cases now at a stage where they have the capacity to substantially facilitate daily operations, the widespread adoption of humanitarian blockchain solutions must become one of the industry’s key priorities,” said Frederik Gregaard, CEO of the Cardano Foundation.

    Cardano currently ranks among the top 10 cryptocurrencies by market cap (~$22 billion), with ADA priced at approximately $0.62 as of May 2025. Its proof-of-stake consensus, peer-reviewed architecture, and environmental efficiency make it uniquely suited for mission-critical applications.

    The Bigger Picture

    This model is already drawing attention from other humanitarian and philanthropic entities.

    “We believe this model can and should be replicated,” added Pavel Izmaylov, CEO of issuance.swiss AG. “Discussions are already underway to launch additional impact-linked ETPs supporting education, climate resilience, and public health within the next 6 to 12 months.”

    An early institutional investor Florian Volery, Liqwid.Finance, commented: “CASL gives us ADA exposure, recently included in US Fed Reserve digital assets and the only blockchain never experienced any technical outage, while automatically contributing to one of the most urgent causes of our time—it’s smart capital at its best.”

    Product Summary

    • Name: Cardano Impact for UNHCR ETP (CASL)
    • Ticker: CASL | ISIN: CH1327686056
    • Launch Date: May 28, 2025
    • Exchange: SIX Swiss Exchange
    • Management Fee: 1.5%
    • Custodian & Staking Operator: Taurus SA
    • Currency: USD / EUR / CHF
    • Underlying: 100% physically backed Cardano (ADA)

    About UNHCR
    UNHCR, the UN Refugee Agency, protects and assists people forced to flee due to conflict and persecution. Operating in over 135 countries, UNHCR delivers life-saving aid and solutions to refugees and stateless people.

    About Switzerland for UNHCR

    Switzerland for UNHCR is the national partner of the UN Refugee Agency for Switzerland and Liechtenstein. Its mission is to support UNHCR’s mission by mobilizing essential resources and raising awareness on behalf of those who are forced to flee.   

    About Cardano Foundation
    The Cardano Foundation advances Cardano’s global adoption and is committed to unlocking blockchain for good. It stewards the development of the Cardano protocol and ecosystem.

    About issuance.swiss AG
    issuance.swiss AG is a Swiss-based issuer of regulated digital asset products, pioneering accessible, transparent, and socially impactful investment structures.

    About Taurus SA
    Taurus SA provides regulated infrastructure for digital assets, enabling custody, tokenization, and staking services trusted by top-tier institutions.

    For media inquiries:
    press@issuance.swiss
    media@cardanofoundation.org
    UNHCR/Switzerland for UNHCR: alvaro.cosi@unrefugees.ch
    press@taurusgroup.ch

    Disclaimer 
    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful. This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan.This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. This document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iv) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (v) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The approval of the 2024 Base Prospectus (EU) should not be understood as an endorsement by the FMA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the 2024 Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities.

    The MIL Network

  • MIL-OSI: Elite Capital & Co. Appointed as Exclusive Manager of NextGen Industrial Development Fund in Landmark 10-Year Tenure

    Source: GlobeNewswire (MIL-OSI)

    LONDON, May 27, 2025 (GLOBE NEWSWIRE) — Mr. George Matharu, President and CEO of Elite Capital & Co. Limited, announced today that Elite Capital & Co. has been appointed as the exclusive manager of the NextGen Industrial Development Fund® for the next decade, effective 1st May 2025. This strategic transition follows a rigorous evaluation by the Fund’s Board of Trustees, underscoring Elite Capital’s proven expertise in large-scale industrial financing and sustainable development.

    “This partnership marks a pivotal shift in how industrial growth is catalysed across the MENA region and beyond. By merging NextGen’s innovative equity-based model with our global financial acumen, we are redefining risk-sharing and entrepreneurial empowerment. Our ISO triple-certified governance (ISO 9001, 27001, and 37001) ensures transparency, security, and anti-bribery compliance, critical for fostering trust in high-stakes industrial projects,” Mr. George Matharu said.

    A paradigm shift in industrial financing, the NextGen Fund’s unique “equity-not-debt” approach eliminates traditional barriers like collateral requirements and predatory loans, which historically contribute to a 72% failure rate among industrial startups in emerging markets (World Bank, 2023). Under Elite Capital’s stewardship, the Fund will scale its mission to:

    1. Build factories via shared-equity partnerships, covering land, infrastructure, and licensing.
    2. Leverage MENA’s logistical edge, reducing supply chain costs by 30% compared to Asia-Europe routes (McKinsey, 2024).
    3. Fast-track bureaucratic processes, cutting 18-month licensing delays through government alliances (IMF data).

    Dr. Faisal Khazaal, Chairman of Elite Capital & Co. Limited and Head of the Government Future Financing 2030 Program®, added, “This aligns with our vision of ‘finance without sovereignty burdens.’ Just as the Government Future Financing 2030 Program funds 80% of national projects without sovereign debt, NextGen’s model allows entrepreneurs to thrive without personal guarantees. Our partnership with MENA governments ensures factories are co-owned by local stakeholders, blending public oversight with private innovation.”

    Decade of transformation, Elite Capital’s tenure will focus on:

    – Risk-sharing: Partners retain 100% of early profits; losses are mutual.
    – Cross-border solutions: NextGen’s trusted partner USD/EUR accounts mitigate forex risks for international sales.
    – Sustainability: Factories engineered for ESG compliance, from energy grids to R&D hubs.

    Mr. George Matharu concluded his statement by saying: “To every entrepreneur who has been told “your sector isn’t bankable”, NextGen is proof otherwise. We don’t just fund factories; we build legacies. The industrial revolution of the 21st century begins here.”

    NextGen Industrial Development Fund – Contact Details –

    Suite RA01, 64 Nile Street
    London, N1 7SR
    United Kingdom

    Website: nidfund.org

    Elite Capital & Co. – Contact Details –

    Elite Capital & Co. Limited
    33 St. James Square
    London, SW1Y4JS
    United Kingdom

    Telephone: +44 (0) 203 709 5060
    SWIFT Code: ELCTGB21
    LEI Code: 254900NNN237BBHG7S26

    Website: ec.uk.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/576e981b-b506-4054-9f2d-83c7f6a7da0b

    The MIL Network

  • MIL-OSI Global: 10 years ago Kenya set out to fix gender gaps in education – what’s working and what still needs to be done

    Source: The Conversation – Africa – By Benta A. Abuya, Research Scientist, African Population and Health Research Center

    The Kenyan government launched a big attempt in 2015 to promote gender equality in and through the education sector. This was guided by principles of equal participation and inclusion of women and men, and girls and boys in national development.

    The Education and Training Sector Gender Policy aligned with national, regional and global commitments. This included the constitution, and Sustainable Development Goals 4 on quality education and 5 on gender equality.

    Years later, however, it became clear that the government wasn’t achieving some policy’s objectives. Gaps remained in reducing gender inequalities in access, participation and achievement at all levels of education.

    The government decided to review the causes of these challenges and what could be done differently.

    This led to a two-year joint study in partnership with the African Population and Health Research Center. The study began in 2022. Its overall objective was to provide evidence for action on mainstreaming gender issues in basic education in Kenya. Gender mainstreaming generally refers to being sensitive to gender when developing policies and curricula, governing schools, teaching and using learning materials.

    The study specifically aimed to:

    1. examine how the teacher-training curriculum prepares teachers to implement gender mainstreaming strategies within the basic education sector

    2. examine how gender mainstreaming is practised in classrooms during teaching and learning

    3. assess the relationship between teaching practices and students’ attendance, choice of subjects and academic performance

    4. evaluate the availability of institutional policies, practices and guidelines to mainstream gender issues and the extent to which they influence gender mainstreaming in education.

    I’m a gender and education researcher and was part of the team from the African Population and Health Research Center that collected data for the policy review. This data came from 10 counties with high child poverty rates and urban informal settlements. These indicators highlight an inability to access one or more basic needs or services.

    The study involved teacher trainers and trainees. We also spoke to education officials, and learners in primary and secondary schools. We carried out classroom observations, knowledge and attitude surveys, questionnaires, key informant interviews and focus group discussions.




    Read more:
    6 priorities to get Kenya’s curriculum back on track – or risk excluding many children from education


    The data showed gaps in teacher training, as well as institutional and teaching practices at the basic education level. Policy wasn’t being carried through in practice.

    The gaps

    Our study found that Kenya needs to review its teacher education curriculum to make it more gender responsive.

    Teachers also need more training to follow practices that are gender responsive. These practices include extending positive reinforcement to girls and boys, maintaining eye contact and allowing learners to speak without interruption.

    Deliberate steps should be taken to ensure that schools and teacher training colleges are gender inclusive in their practices, guidelines and programmes.

    More specifically, our study found:

    • Teacher trainees had a relatively good understanding of gender-equitable teaching and learning practices. But there was a need to place greater importance on this in lesson planning and in supporting girls in science, technology, engineering and mathematics (STEM).

    • Gender mainstreaming is not built into the teacher training curriculum. It isn’t taught as a standalone unit. Teacher trainees learnt about it mainly from general courses, such as child development and psychology, or private training. And teacher trainees were unaware that they were being tested on this.

    • There were no significant gender differences in how teachers in pre-primary and primary school taught boys and girls. At the secondary level, however, teachers engaged boys more than girls during during literacy and STEM lessons.

    • At both primary and secondary levels, gender-equitable practices positively influenced learning outcomes in English and STEM subjects. These practices improved academic performances in English at the primary level. They led to improvements in biology, English, mathematics and physics at the secondary level.

    • The odds of school attendance increased if teachers treated boys and girls in equitable ways.

    • The odds of boys selecting chemistry and physics at the secondary level increased if the teacher of the subject was approachable and if the subject was considered applicable to future careers.

    • More than 40% of primary and secondary schools didn’t have guidelines on sexual harassment and gender-based violence for teachers and students. And most of the schools that said they had these guidelines couldn’t provide them to the research team. These guidelines help mainstream gender issues in schools and communities.

    What next

    To advance gender equality, Kenya must move beyond policy awareness. It must be more responsive to gender in teacher training, classroom practices and institutional leadership.

    Our study recommends:

    • creating a positive and inclusive learning environment where both boys and girls feel valued, capable, and motivated to learn

    • teaching gender mainstreaming as a standalone unit, or integrating it into the teaching methodology

    • coaching, mentorship and modelling of best practices to trainee teachers

    • financial support for gender mainstreaming in all areas of teacher education

    • encouraging girls to pursue STEM subjects and careers at an early age through formal mentorship programmes

    • encouraging and empowering women teachers and parents to take up leadership positions in schools to provide role models for students.




    Read more:
    Kenya’s decision to make maths optional in high school is a bad idea – what should happen instead


    Our findings offer a critical evidence base for the education ministry and other stakeholders. They should put accountability mechanisms in place.

    Only through sustained, data-driven action can Kenya achieve a truly inclusive and equitable education system.

    Benta A. Abuya 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. 10 years ago Kenya set out to fix gender gaps in education – what’s working and what still needs to be done – https://theconversation.com/10-years-ago-kenya-set-out-to-fix-gender-gaps-in-education-whats-working-and-what-still-needs-to-be-done-255400

    MIL OSI – Global Reports

  • Why Grassroot Leadership is Important for India and the Modi Government’s Vision in Facilitating the same.

    Source: Government of India

    Source: Government of India (4)

    Grassroots leadership refers to the vision, action and success that emerges from the local levels, often in communities or organizations, rather than from top-tier or centralized authorities. It involves ordinary people stepping up to address issues that directly affect their lives, using their unique insights and experiences to drive a significant change – which impacts not only their immediate surroundings but the people at large. This type of leadership invents new systems from ground zero, because adversities are many and resources are scanty.

    Grassroots leadership is crucial for a country because it fosters solutions that are more personalized and customized with reference to the sensitivities of the people, having acknowledged the first-hand experiences of dealing with the problems. The policies and decisions under such leadership are more in sync with the needs and priorities of the target users, rather than being formulated by distant, detached bosses. This kind of leadership promotes self-sufficiency where people are empowered to identify and resolve their own problems, while raising a network group dedicated to the cause. It also improves social equity by giving marginalized or underrepresented groups a voice and a platform. Grassroots leaders build trust and solidarity within their communities, creating a more resilient society. When communities learn to lead change from within, it involves people directly in the shaping of their future.

    Grassroots leadership in India has evolved significantly from ancient times to the present day, reflecting the country’s changing social, political, and economic landscape. In ancient India, village councils, or panchayats, played a crucial role in self-governance, with elders and community leaders making collective decisions. These decentralized governance systems were deeply rooted in local traditions and ensured community participation. During the colonial period, grassroots leadership took on a resistance role, as leaders like Mahatma Gandhi mobilized people through movements such as Satyagraha and Swadeshi, emphasizing self-reliance and local empowerment. Post-independence, India institutionalized grassroots leadership through the 73rd and 74th Constitutional Amendments in 1992, which strengthened Panchayati Raj institutions and urban local bodies, giving power to local representatives, including women and marginalized groups. 

    Women have been at the forefront of grassroots leadership, often playing pivotal roles in community-building and social change. Their contributions however, frequently go unnoticed and undervalued. Women’s presence as grassroot visionaries are powerfully reflected in the ancient culture and history of India. Both the Ramayana and the Mahabharata introduce female characters playing pivotal roles in shaping events, often through resilience, wisdom, and influence at the community or familial level. In the Ramayana, Sita expresses agrarian expertise and herbal knowledge while she was in exile. Shabari, a tribal woman, demonstrates unwavering faith and service, engaged in gathering fruits and berries. Damayanti and Draupadi, in the Mahabharata, became servants at other’s kingdoms demonstrating their adaptations to economic hardships or adverse conditions. While Hidimbi and Satyabhama were war-trained agro experts, Gargi, Maitreyi and Sulabha took up the roles of teachers and scholars. Kunti, Gandhari and Draupadi guided their men through political and existential dilemmas, questioning injustice and lawlessness, ultimately influencing the course of history. 

    Given that we are the descendants of such a strong and able society, it is only obvious that women’s grassroots leadership in India would be powerfully rooted in empathy, inclusivity, and long-term sustainability. Other than the women-led businesses that contribute to the GDP directly, women are often the driving force behind social movements focused on justice, peace, and human rights which cleanse a society and raise better individuals, thus multiplying the number of capable contributors who can make direct contributions to the GDP. Examples are Jumde Yomgam Gamlin fighting against substance abuse in Arunachal Pradesh, Bharatanatyam artist Dr. Narthaki Nataraj spreading the message for gender equality, Moirangthem Muktamani Devi from Manipur initiating a knitted shoe-start up, uplifting knitting from its women’s hobby status and simultaneously making her way out of poverty, and many others. By recognizing and supporting the leadership of women at the grassroots level, who have made their way up battling systemic barriers and unequal access to opportunities, societies can unlock tremendous potential for social and political transformation.

    India was always a land of great leaders operating from the grassroots. What had been lacking over a long period of time was their recognition. Right from the beginning of its tenure in 2014, the Modi government had focussed on rerouting towards its roots because the world is standing at the threshold where every moment would usher a gigantic change. The model was clear. In order for the top leadership of the country to face larger storms before taming and integrating new policies and regulations into the Indian business scenario, the support of the grassroot leaders would be very essential in maintaining a healthy social and economic movement for the citizens!

    Today, grassroots leadership in India has expanded beyond governance into social activism, environmental movements, and digital advocacy, with local leaders addressing issues like climate change, gender equality, and rural development. The rise of social entrepreneurship and technology-driven initiatives has further amplified grassroots leadership, making it more inclusive and dynamic. This is increasingly vital for sustainability in the present and future, especially as rapid technological advancements and climate change are expected to disrupt the traditional ways of life. With global automation and artificial intelligence revolutionizing industries, many conventional jobs, particularly in agriculture, manufacturing, and services, will increasingly face obsolescence. This shift threatens the livelihoods of millions, especially in rural and semi-urban areas, making localized leadership essential for retraining, skill development, and economic adaptation. Grassroots leaders play a key role in preparing communities for this transformation by challenging stagnation of the masses and promoting new dreams through embracing digital literacy, fostering entrepreneurship, and encouraging sustainable employment opportunities that align with emerging industries.

    At this juncture, the world along with India is facing severe climate challenges, including unpredictable monsoons, rising temperatures, and extreme weather events that threaten agriculture, water security, and infrastructure. Grassroots leadership is critical here in mobilizing communities for climate adaptation, implementing sustainable practices, promoting water conservation, and developing disaster-resilient infrastructure. Local leaders, often deeply connected with their environments, can drive impactful change by integrating indigenous knowledge with modern solutions. India being a huge country with diverse culture, it would be difficult for a centralized system to address the exponentially growing concerns of the vast population. Growth of grassroots leaders ensures decentralized, community-driven, innovative and people-centric governance – stabilizing the effects of automation and ecological uncertainties. 

    The Modi government has undertaken numerous schemes and development initiatives to empower grassroots leadership across India, fostering local governance, entrepreneurship, and community-driven progress. Recognizing that true development stems from the empowerment of people at the ground level, these initiatives aim to equip individuals with the necessary skills, resources, and platforms to lead change in their communities, both in remote rural areas and urban centers. One of the most significant steps in this direction has been the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), which focuses on mobilizing rural women into self-help groups (SHGs) to enhance their economic participation. By providing financial assistance, skill training, and market linkages, this initiative has empowered millions of women to emerge as local leaders in micro-entrepreneurship. The government has also promoted StartUp India and StandUp India, encouraging young entrepreneurs, including women and marginalized communities, to establish innovative businesses, ensuring a culture of self-reliance and leadership at the grassroots level. In governance, the Gram Panchayat Development Plan (GPDP) and the Panchayati Raj System Digitization aim to strengthen local self-governance by integrating digital tools, transparency, and community-driven decision-making. The 73rd Constitutional Amendment has been further reinforced with increased financial grants and capacity-building programs, ensuring that local leaders can effectively plan and implement development projects. Additionally, the Rashtriya Gram Swaraj Abhiyan (RGSA) has been instrumental in enhancing the capabilities of panchayat leaders through leadership training and technological integration, fostering accountable and efficient governance. Recognizing the importance of urban grassroots leadership, initiatives like the Smart Cities Mission and AMRUT (Atal Mission for Rejuvenation and Urban Transformation) encourage local urban bodies to take an active role in planning sustainable and technologically advanced cities. These programs prioritize participatory governance, where local communities and leaders contribute to urban planning, infrastructure development, and environmental sustainability. Another major initiative strengthening grassroots leadership is the PM Kisan Samman Nidhi, which provides direct income support to farmers, ensuring economic stability and empowering them to adopt innovative agricultural practices. Complementing this is the Fasal Bima Yojana, which secures farmers against climate uncertainties, allowing them to take calculated risks and lead agricultural advancements. Similarly, the Jal Jeevan Mission empowers village-level committees to oversee water supply management, ensuring sustainable water access in remote areas through decentralized governance.

    Women’s leadership at the grassroots level has been specifically encouraged through the Beti Bachao Beti Padhao scheme, which not only promotes female education but also fosters leadership among young girls. Likewise, the Mahila E-Haat initiative provides a digital marketplace for women entrepreneurs, strengthening their financial independence and influence within their communities. Programs like Digital India and Skill India have further enabled grassroots leaders to integrate modern technology into local governance, small businesses, and educational initiatives. The PM SVANidhi Yojana, supporting street vendors with easy credit access, has also uplifted informal sector entrepreneurs, making them active contributors to urban economies.

    The Modi government achieved 100% electrification of India through initiatives like Saubhagya Yojana, bringing power to even the remotest villages. This milestone has transformed lives by boosting education, healthcare, and businesses, ensuring energy access for all, fostering economic growth, and enhancing India’s global standing in sustainable development and infrastructure advancement. The Digital India initiative by the Modi government has revolutionized governance, economy, and daily life through increased internet penetration, digital payments (UPI), e-governance, and Aadhaar-linked services. It has empowered citizens, boosted startups, enhanced transparency, and made services more accessible, driving India toward a digitally inclusive and self-reliant future. The financial push offered through UPI, Jan Dhan Yojana, and MSME digital lending has empowered small businesses by ensuring easy transactions, financial inclusion, and quick credit access. This has reduced dependency on cash, increased transparency, and boosted economic growth, making India a global leader in fintech innovation.

    Through these initiatives and more, the Modi government is creating an environment where grassroots leaders—whether in villages, towns, or metropolitan areas—are equipped with resources and skills to drive change. This holistic approach ensures that leadership is not concentrated at the top but flourishes at every level, securing a resilient and innovative future for India. The call for action at local and individual levels has also been topped with fair recognition systems to celebrate the front-runners and inspire others to follow suit. The transformation of the Padma Awards into a “People’s Award,” where citizens can nominate deserving individuals through a democratic process, plays a significant role in that vision. Traditionally perceived as honors reserved for elites, bureaucrats, or celebrities, the Modi government has repositioned these awards to recognize the contributions of unsung heroes—ordinary individuals making extraordinary impacts in their communities. This shift not only elevates grassroots leaders but also creates a ripple effect, inspiring millions to take initiative in their own spheres.

    By celebrating success stories of farmers innovating in agriculture, social workers uplifting marginalized communities, artisans preserving cultural heritage, and environmentalists leading conservation efforts, the Padma Awards highlight real-life examples of leadership that emerges from the urban, rural and remote geographies. These stories showcase how dedication, resilience, and ingenuity can drive meaningful change, regardless of formal authority or social status. When local leaders, who often work in anonymity, receive national recognition, it reinforces the idea that transformative contributions are valued and acknowledged by the nation. Also, making the nomination process open to the public allows citizens to identify and elevate role models from their own communities, fostering a sense of collective responsibility toward nation-building. By honoring individuals from remote villages, tribal communities, and lesser-known professions, the awards challenge traditional notions of success, promoting a broader, more inclusive definition of leadership. In the era of remarkable changes, it is only obvious for the citizens of the country to participate and take ownership of change, instead of staying detached, ensuring the spirit of nation-building is a shared emotion across every corner of the country.

    (Koral Dasgupta is an accomplished author and content curator with over 20 years of experience. Her diverse work spans academic non-fiction to relationship dramas, focusing on gender narratives and complex human emotions. Koral founded Tell Me Your Story, a platform that uses literature to inspire social engagement and drive behavioral change for inclusion and diversity. She designs and executes learning programs, conducts writing workshops, and curates content for events focused on gender and mythology. Koral has been an advisory member of the Central Board for Film Certification.

    She holds an MBA in Marketing and a BA in Economics. With her qualifications, she continues to explore the journeys of mythological women further through the lenses of spirituality, leadership, and sexuality, and her Sati Series is widely acclaimed across the circles. Her notable achievements include being shortlisted for the Sahitya Academy Awards in 2023, securing a five-book contract with Pan Macmillan, and cataloging her books in prestigious libraries such as Harvard and Columbia University. Her works have earned her recognition as an Innovator25 Asia Pacific in 2019 and a spot in Outlook Business’ Women of Wonder list. Koral continues to weave narratives that empower voices, inspire change, and reshape perspectives on gender and human connection.)

  • MIL-OSI Russia: South Korean police impose foreign travel ban on former prime minister and vice prime minister

    Translation. Region: Russian Federal

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

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

    SEOUL, May 27 (Xinhua) — South Korean police have imposed an overseas travel ban on former Prime Minister Han Deok-soo and former Vice Prime Minister and Finance Minister Choi Sang-mok as part of an investigation into an alleged coup, local media reported Tuesday.

    According to them, the former high-ranking officials are suspected of mutiny. The ban on their foreign travel came into force in mid-May.

    The police’s special investigation unit summoned Han Duk-soo and Choi Sang-mok, as well as former Interior Minister Ri Sang-min, who was barred from leaving the country last December, for questioning on Monday.

    Three former government officials are suspected of involvement in a failed attempt by former President Yoon Seok-yeol, who was ousted in April, to impose martial law. –0–

    MIL OSI Russia News

  • MIL-OSI Economics: Secretary-General of ASEAN holds bilateral meeting with President of AIIB

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today held a bilateral meeting with President of the Asian Infrastructure Investment Bank (AIIB), H.E. Jin Liqun, on the sidelines of the 46th ASEAN Summit and Related Summits, in Kuala Lumpur, Malaysia.
     
    The meeting exchanged views on key initiatives such as the ASEAN Power Grid (APG) and the development of the ASEAN Connectivity Strategic Plan, as well as other potential areas of further cooperation in infrastructure connectivity and resilience.

    The post Secretary-General of ASEAN holds bilateral meeting with President of AIIB appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI: Annexus and North American Expand Partnership With the Launch of Secure Horizon Indexed Universal Life Insurance

    Source: GlobeNewswire (MIL-OSI)

    SCOTTSDALE, Ariz., May 27, 2025 (GLOBE NEWSWIRE) — Annexus, a leading retirement product design company, has announced its continued collaboration with North American Company for Life and Health Insurance®, one of the largest issuers of life insurance and annuity products in the United States. The two companies launched Secure HorizonSM Indexed Universal Life Insurance (Secure Horizon IUL), a breakthrough life insurance product designed to provide death benefit protection alongside a suite of supplemental retirement benefits and strong accumulation potential.

    “The launch of Secure Horizon IUL represents the next evolution of our partnership with Annexus and our shared commitment to innovation,” said Jerry Blair, president of Sammons Life Insurance Group. “Together with Annexus, we are reimagining the untapped possibilities in life insurance product design.”

    Secure Horizon IUL features strong death benefit protection and accumulation potential through index options including the S&P PRISM®Index, the best-performing live smart beta index in the IUL industry since 2018,1 and the Research Affiliates®Global Multi-Asset Index, which provides diversified exposure to global stocks, bonds and commodities while using a proprietary risk management process to manage volatility. Both indices are available in 1-, 2- and 3-year strategy terms with participation rates as high as 410%. In addition, Secure Horizon IUL will feature an S&P 500®Index Trigger strategy and a Dual Trigger Strategy that provides the opportunity to credit interest in up, flat and even some down markets.

    “We are excited to launch Secure Horizon IUL, a new product that includes some truly innovative benefits designed to help protect against major risks in retirement,” said Ron Shurts, co-founder and CEO of Annexus. “This is the first time an IUL will offer a Longevity Benefit Base that can be used to provide guaranteed lifetime income, a benefit if social security is reduced, and an enhanced death benefit that could be greater than the policy’s death benefit.”

    The SecureStage Supplemental Benefits EndorsementSM (SecureStage) is automatically included on all Secure Horizon IUL policies. SecureStage is powered by an industry-first Longevity Benefit Base that grows by 150% of the net credited interest.2 The Longevity Benefit Base can be used for any of the following three benefits:

    • LifePay Income Benefit: provides a stream of guaranteed lifetime income clients cannot outlive
    • PlanGap®Benefit: the first solution within an IUL designed to help offset a potential future reduction in social security benefits3
    • Enhanced Death Benefit: a legacy benefit that may be greater than the death benefit offered under the policy payable over five years

    Secure Horizon IUL also offers living benefits through the Accelerated Death Benefit Endorsement, which enables policyowners to use a portion of the death benefit if diagnosed with a qualifying critical, chronic or terminal illness.4, 5 Together these supplemental benefits can help address six of the major risks clients face in retirement.

    Advisors, Registered Investment Advisors (RIAs), and insurance professionals seeking access to this product should contact their Annexus-affiliated Independent Distribution Company. If you are a consumer interested in learning about Secure Horizon IUL, ask your financial professional for more information.

    About Annexus

    For nearly two decades, Annexus has developed market-leading fixed indexed annuities, registered indexed-linked annuities, and indexed universal life insurance products that help Americans grow and protect their retirement savings. The company has built strategic relationships with the industry’s top insurance carriers and some of the world’s largest investment banks. For more information, visit Annexus.

    About North American Company for Life and Health Insurance
    North American Company for Life and Health Insurance® is a member of Sammons® Financial Group, Inc. They offer a comprehensive portfolio of term and indexed universal life insurance products, as well as a wide variety of traditional fixed and fixed index annuities. Learn more about North American.

    1 Based on all 5% volatility control smart beta live performance indices in the Indexed Universal Life market as of 4/15/25. Index performance from 12/31/2017 – 12/31/2024.

    2 Net credited interest is any index credit and interest credit minus Index Credit and interest credit attributed to interest bonus on fixed interest participating loans.

    3 The PlanGap® Benefit is known as the Income Gap Benefit in the contract. The PlanGap® Benefit is not a replacement for Social Security benefits but provides a benefit designed to mitigate a reduction. For purposes of this Endorsement, reduction means a reduction in Social Security benefits due to a change implemented by the Social Security Administration or other federal law or regulation. It does not include reductions in your Social Security benefits based upon your actions (including any elections under Social Security or changes to your Social Security elections) or change in circumstances. PlanGap® is a registered trademark of PlanGap, LLC and is used pursuant to a license. The Benefit can be elected if the Income Gap Benefit Index is reduced by more than 3%. Limited to the insured’s policy age being between age 62 and 85 and waiting period of 10 years for issue ages 0-59, and 5 years for issue ages 60+.

    North American Company for Life and Health Insurance® is not affiliated with PlanGap® or the Social Security Administration. North American’s product(s) are not sponsored, endorsed, sold, or promoted by the Social Security Administration, and they make no representation regarding the advisability of purchasing of the product(s).

    4 Payment of accelerated death benefits paid under the endorsement is intended for favorable tax treatment under Section 101(g) of the Internal Revenue Code.

    5 Accelerated death benefits subject to eligibility requirements. An administrative fee may be required at the time of election. The death benefit will be reduced by the amount of the death benefit accelerated. Since benefits are paid prior to death, a discount will be applied to the death benefit accelerated. As a result, the actual amount received will be less than the amount of the death benefit accelerated.

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    The MIL Network

  • MIL-OSI: Non-Mortgage Delinquencies Reach Levels Not Seen Since 2009

    Source: GlobeNewswire (MIL-OSI)

    – 1.4 million people in Canada missed a credit payment as refinancing and renewals dominate the Q1 Mortgage market –

    Equifax Canada Market Pulse Quarterly Consumer Credit Trends and Insights

    TORONTO, May 27, 2025 (GLOBE NEWSWIRE) — Economic uncertainty continued to impact credit usage and consumer financial health across Canada during the first quarter of 2025 according to Equifax® Canada’s latest Market Pulse Consumer Credit Trends and Insights. Total consumer debt in Canada was $2.55T at the end of Q1, up four per cent year over year, but down more than $6B from the end of 2024. Average non-mortgage debt per consumer rose to $21,859 in Q1 2025, primarily driven by a strong auto loan market as buyers looked to lock in purchases before anticipated price hikes.

    “We often observe seasonal changes in credit usage during the first quarter. Generally speaking in the spring, we tend to see mortgage debt rising, however for Q1 2025 we saw mortgage debt levels fall compared to last quarter,” said Rebecca Oakes, Vice President of Advanced Analytics at Equifax Canada.” Despite a slowdown in demand for non-mortgage debt, overall balances remained fairly flat, an indication that consumer payment levels may be falling.”

    Card spending slows but balances continue to rise
    After experiencing high numbers for new credit card openings in 2023 and 2024, the first quarter of 2025 saw a 10.3 per cent decline in new card originations. Consumers that have lower credit scores accounted for an increase in new card openings, potentially indicating heightened credit reliance and financial strain in this consumer group.

    Average monthly credit card spend1 per card holder fell by $107 dollars during Q1, dropping to the lowest level since March 2022. Ontario, British Columbia, Prince Edward Island, Nova Scotia and Yukon saw the biggest pull back in spending, dropping between six and seven per cent compared to the prior year.

    “A drop in credit card spending when combined with increased payment amounts can imply improving financial conditions of consumers,” said Oakes. “Our data shows card payment levels, especially for younger consumers, are starting to fall, indicating this spending slowdown is likely driven more by consumers trying to be prudent rather than switching from credit to debit for financing.”

    The average credit card pay rate2 decreased to 52.9 per cent in Q1, down 32 basis points. Notably, younger consumers (under 35 years old) showed a more dramatic shift, with their average pay rate falling 392 basis points from 62.9 per cent to 58.9 per cent. This same group also exhibited the greatest increase in the level of minimum payers, rising 25 basis points year-over-year.

    Mortgage growth driven primarily by renewals and refinancing
    New mortgage originations jumped 57.7 per cent year-over-year in Q1 2025, but much of this activity stemmed from renewals and refinancing. This reflects the onset of the so-called “Great Renewal,” as a wave of pandemic-era mortgages come up for renewal.

    Renewal and refinancing activity surged, particularly in Ontario, Alberta, and B.C., with an estimated 28 per cent of mortgages switching lenders as Canadians shop around and seek better rates. Almost half of those switching (46 per cent) moved between the “Big Five” banks, reflecting intense competition among major lenders.

    “The shift in the mortgage market is clear – this is currently about existing homeowners navigating a complex refinancing environment,” added Oakes. “But even as some find relief, affordability challenges haven’t eased for everyone.”

    First-time homebuyers returned to the market, with activity up 40 per cent from Q1 2024. Affordability remained a hurdle and while average monthly payments dropped by 7.8 per cent to $2,300, the average loan size increased by 7.5 per cent year-over-year.

    Debt divide deepens as missed payments rise for some
    While some consumers showed signs of prudence in their spending choices during the first quarter, missed payments continued to rise across most credit products. In total, more than 1.4 million consumers (1 in 22) missed at least one credit payment during the quarter.

    Although mortgage holders experienced some stabilization thanks to steady interest rates, financial strain remained acute for non-mortgage consumers. Consumer level delinquency rates among non-mortgage holders rose 8.9 per cent year-over-year, compared to 6.5 per cent for mortgage holders. Younger Canadians were hit hardest, with the 18–25 age group experiencing a 15.1 per cent increase in delinquency rates.

    Ontario consumers under stress
    Ontario continued to remain a hotspot for financial stress in Canada, experiencing the most pronounced increase in delinquency rates across all credit products. Ontario’s 90+ day mortgage delinquency rate rose to 0.24 per cent, a substantial 71.5 per cent increase since Q1 2024. British Columbia followed with a notable rise of 33.3 per cent, reaching 0.18 per cent, while the rest of Canada (excluding these two provinces) showed a comparatively modest increase of 3.3 per cent, reaching an average of 0.19 per cent overall.

    Ontario also led the rise in non-mortgage delinquencies, up 24 per cent year-over-year, followed by Alberta at 15.9 per cent and Quebec at 13.9 per cent.

    Significant increases for younger consumers and auto loans
    The highest credit card 90+ day delinquency rates were observed among younger consumers under the age of 26, at 5.38 per cent, a significant 21.7 per cent increase year-over-year for this group. Overall, this rate stood at 3.76 per cent, marking a 15.8 per cent increase.

    Auto loans followed a similar trend, with the delinquency rate for younger consumers rising by 30 per cent to 1.95 per cent, compared to an overall rate of 1.08 per cent, which represented a 15.3 per cent increase.

    “We’re observing positive shifts in consumer behaviour, with reduced credit card usage and early signs of delinquency stabilization for some consumers. However, headwinds will likely persist, such as rising unemployment and rising food prices, in already strained regions,” concluded Oakes.

    Age Group Analysis – Debt & Delinquency Rates (excluding mortgages)

      Average
    Debt
    (Q1 2025)
    Average Debt Change
    Year-over-Year
    (Q1 2025 vs. Q1 2024)
    Delinquency Rate ($)
    (Q1 2025)
    Delinquency Rate ($) Change
    Year-over-Year
    (Q1 2025 vs. Q1 2024)
    18-25 $8,459 4.63% 2.17% 20.06%
    26-35 $17,394 1.14% 2.37% 21.04%
    36-45 $26,873 1.57% 1.91% 21.20%
    46-55 $34,371 2.94% 1.38% 17.53%
    56-65 $28,780 5.25% 1.15% 13.25%
    65+ $14,596 3.57% 1.13% 3.93%
    Canada $21,859 2.74% 1.60% 17.06%
             

    Major City Analysis – Debt & Delinquency Rates (excluding mortgages)

    City Average
    Debt
    (Q1 2025)
    Average Debt Change
    Year-over-Year
    (Q1 2025 vs. Q1 2024)
    Delinquency Rate ($)
    (Q1 2025)
    Delinquency Rate ($) Change
    Year-over-Year
    (Q1 2025 vs. Q1 2024)
    Calgary $23,922 1.11% 1.71% 14.25%
    Edmonton $23,547 -0.03 2.26% 18.29%
    Halifax $21,263 1.86% 1.56% 15.13%
    Montreal $16,971 2.56% 1.49% 18.52%
    Ottawa $19,501 1.16% 1.52% 22.03%
    Toronto $21,048 3.46% 2.17% 24.28%
    Vancouver $23,304 3.93% 1.28% 14.27%
    St. John’s $23,872 1.41% 1.49% 1.19%
    Fort McMurray $37,269 0.81% 2.56% 18.37%
             

    Province Analysis – Debt & Delinquency Rates (excluding mortgages)

    Province Average
    Debt
    (Q1 2025)
    Average Debt Change
    Year-over-Year
    (Q1 2025 vs. Q1 2024)
    Delinquency Rate ($)
    (Q1 2025)
    Delinquency Rate ($) Change
    Year-over-Year
    (Q1 2025 vs. Q1 2024)
    Ontario $22,543 3.08% 1.73% 24.00%
    Quebec $18,985 2.28% 1.12% 13.95%
    Nova Scotia $21,296 2.62% 1.68% 5.72%
    New Brunswick $21,490 2.82% 1.77% 9.18%
    PEI $23,707 4.09% 1.19% 8.21%
    Newfoundland $24,770 4.02% 1.56% 0.48%
    Eastern Region $22,218 3.09% 1.65% 5.74%
    Alberta $24,398 1.00% 1.97% 15.93%
    Manitoba $18,171 3.68% 1.72% 2.04%
    Saskatchewan $23,194 2.82% 1.82% 6.24%
    British Columbia $22,631 3.33% 1.40% 12.63%
    Western Region $22,878 2.44% 1.69% 12.49%
    Canada $21,859 2.74% 1.60% 17.06%
             

    * Based on Equifax data for Q1 2025

    About Equifax
    At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

    Contact:

    Andrew Findlater
    SELECT Public Relations
    afindlater@selectpr.ca
    (647) 444-1197

    Angie Andich
    Equifax Canada Media Relations
    MediaRelationsCanada@equifax.com


    1 average spend comparisons have been adjusted for inflation
    2 pay rate = payments / last months balance

    The MIL Network

  • MIL-OSI: Bitget Expands into Real-World Assets with BGUSD, Offering Daily Yields and High Liquidity

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 27, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the launch of BGUSD, a yield-bearing stable asset certificate designed to enhance capital efficiency and provide passive income opportunities for users worldwide. BGUSD is fully integrated into the platform’s trading and wealth management infrastructure, offering a multifaceted utility layer backed by real-world assets. BGUSD is redeemable for USDC at a 1:1 ratio and can be subscribed using USDC or USDT. Holding BGUSD provides users with an annualized yield starting at 4%, credited daily to their spot accounts based on their minimum daily balance. For the first 30 days following launch, a promotional APY of 5% will apply.

    The asset derives its yield from a diversified basket of tier 1 tokenized real-world assets, including high-grade money market funds and tokenized US Treasury products. This disciplined yield structure is supported by a diversified asset allocation, institutional-grade infrastructure, and partnerships with multiple leading tokenization service providers, including Superstate (via their tokenized treasury fund USTB).

    “At Bitget, our mission has always been to prioritize our users’ needs — whether they come from the crypto-native community, institutional circles, or traditional finance. With BGUSD, we are delivering a solution that bridges the best of both worlds: the transparency and innovation of crypto with the stability and yield opportunities traditionally found in real-world assets. We’ve built BGUSD to unlock passive income and make yield generation as seamless as holding a stablecoin. This launch is a new step in how we connect traditional finance’s strengths with the agility of Web3 — and it’s just the beginning,” said Gracy Chen, CEO at Bitget.

    This structure positions BGUSD as a secure, yield-generating alternative within the platform, minimizing exposure to crypto market volatility while maintaining full liquidity through redemption options. Users can opt for instant redemptions, fulfilled from Bitget’s reserve pool, or standard redemptions with settlement within three business days. Subscription and redemption fees are fixed at 0.1%.

    More than a tool for preservation, BGUSD is built for active deployment and fully supports Bitget’s broader ecosystem. It can be used as lending collaterals, futures margin, Launchpool, and PoolX. The asset’s full-scenario usability contributes to enhanced capital retention and supports platform-level strategies aimed at generating stable, risk-adjusted returns. Through self-managed allocation and collaborations with reputable financial institutions, the product ensures diversification and mitigates concentration risk. By bridging traditional finance instruments with on-chain accessibility, BGUSD delivers a resilient solution in contrast to existing offerings, combining stable returns with full transparency.

    For more information on BGUSD, visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/179b25fe-1d19-467b-a3b2-bae3d42a37df

    The MIL Network

  • MIL-OSI: LandlordBuyer Reveals the Best UK Cities for Landlords in 2026 – and London Doesn’t Make the List

    Source: GlobeNewswire (MIL-OSI)

    BUCKINGHAMSHIRE, United Kingdom, May 27, 2025 (GLOBE NEWSWIRE) — The UK’s buy-to-let (BTL) property market is undergoing significant transformation. Amid rising interest rates and regulatory changes, some landlords are choosing to exit the sector. However, for astute investors, 2026 could represent a year of strategic opportunity—particularly in regional cities that are primed for rental growth.

    According to a combination of industry data and expert insights, landlords who adapt swiftly to the evolving market landscape may still secure substantial returns—if they know where to focus.

    Key Buy-to-Let Forecasts for 2026:

    • BTL lending is projected to reach £42 billion in 2026, marking an 11% rise on 2025 figures.
    • Average UK house prices are anticipated to grow by 4%, bolstered by increasing market confidence and easing inflation.
    • Rental prices are expected to rise by 3.5% in 2026, contributing to a cumulative 17.6% increase by 2029.
    • BTL purchase lending fell by 7% in 2025, largely due to landlord departures and stricter lending regulations.

    Best Regional Yield Performers:

    • Blaenau Gwent: 11.4% yield
    • Redcar & Cleveland: 9.5% yield
    • Derby and Newcastle: 6–8% yields

    Birmingham: The Emerging Capital of Buy-to-Let?

    One of the most promising cities for landlords in 2026 is Birmingham. The city benefits from major infrastructure and urban regeneration projects, high tenant demand from young professionals and students, and forecasted rental price growth of 3.5%.

    Expert Commentary from Jason Harris-Cohen

    Jason Harris-Cohen, Managing Director of LandlordBuyer, believes 2026 will be a pivotal year for UK landlords.

    “Birmingham’s rental market is poised for continued growth through 2025 and 2026, underpinned by strong demand, limited supply, and ongoing urban development. For landlords and investors, the city presents an opportunity to achieve both attractive rental yields and capital appreciation. As Birmingham continues to evolve, it solidifies its status as a leading destination for property investment in the UK.”

    Regulatory Tightening: Raising the Bar for Market Participation

    2026 will see the phased implementation of several key reforms:

    • Abolition of Section 21 ‘no-fault’ evictions
    • Higher stamp duties on additional property purchases
    • Enhanced energy performance standards
    • More rigorous rental regulations and enforcement mechanisms

    These changes may prompt less-prepared landlords to leave the sector, paving the way for more professionalised property portfolios.

    Despite challenges, 2026 offers a golden window for those investors willing to:

    • Target high-yield regional locations
    • Upgrade portfolios to meet new compliance standards
    • Adapt to shifting tenant demands

    In the new era of UK property investment, adaptability will be essential—not only for success but for survival.

    About LandlordBuyer
    LandlordBuyer are a professional property buyers and landlords. We are flexible, fast-acting investors, and we’ll make an immediate offer for any type of rented property throughout England. LandlordBuyer are members of the National Landlord Association (NRLA), and the Property Ombudsman. We are committed to providing quality homes to our tenants, and providing a simple service for landlords who want to sell property with sitting tenants.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4f9eb9b9-af0b-4101-8b80-e925b1b068a2

    The MIL Network

  • MIL-OSI: Radware Recognizes Bell Canada and Presidio as Partners of the Year

    Source: GlobeNewswire (MIL-OSI)

    MAHWAH, N.J., May 27, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, recognized Bell Canada, Canada’s largest communications company, and Presidio, a leading technology services and solutions provider, as its Partners of the Year. The annual award celebrates top performing partners that are dedicated to cyber security innovation and customer service excellence, and that have achieved exceptional business outcomes.

    “We are proud to recognize Bell and Presidio for their continued partnership and outstanding achievements,” said Yoav Gazelle, Radware’s chief business officer. “They are on the frontlines each day equipping customers with the critical cloud security solutions needed to mitigate risks and stay ahead of emerging threats to networks and applications. Together, we have created a powerful force for fighting cybercrime.”

    In addition to using Radware’s DDoS and Cloud Application Protection Services to defend their own infrastructures, Presidio and Bell offer Radware’s solutions to their customers.

    To safeguard on-premise, cloud, and hybrid environments, Presidio delivers Radware’s application and API security solutions, bot manager, and DDoS protection as part of its cybersecurity suite. Presidio has a decades-long history of building traditional IT foundations and deep expertise in AI and automation, security, networking, digital transformation, and cloud computing.

    “This award recognizes Presidio’s expertise in helping companies navigate the complexities of deploying and running an end-to-end cybersecurity solution, mitigating risk, and achieving compliance,” said Justin Tibbs, vice president, cyber security practice, at Presidio. “Our goal is to help make cybersecurity an innovation accelerator rather than a blocker, and our work with Radware plays an essential role in that approach.”

    As part of its security-as-a-service offering, Bell delivers Radware’s full cloud security stack, including Radware’s integrated Cloud Application and DDoS Protection Services.

    “Winning Radware’s Partner of the Year award for the second consecutive year is a tremendous honour,” said Errol Fernandes, Bell’s national director, solution sales – security and cloud. “Our collaboration with Radware is a key component of our approach to safeguarding our customers from web and application cyberthreats.”

    Radware’s global partner program offers ecosystem partners a lucrative and systematic approach to creating, managing, and growing sales opportunities based on Radware’s state-of-the-art cloud services and solutions. Complete with training, financial incentives, and support materials, the program rewards resellers, managed security service providers, carriers, and cloud service providers for the value they deliver throughout the customer lifecycle.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

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    Safe Harbor Statement
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Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cybersecurity and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, or if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others;  outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    Media Contact:
    Gerri Dyrek
    Radware
    Gerri.Dyrek@radware.com 

    The MIL Network

  • MIL-OSI Economics: Lisa D Cook: A view on financial stability

    Source: Bank for International Settlements

    Thank you, Alessandra, for organizing us today, and thanks to you, Veronica Guerrieri, and Marina Azzimonti for initiating this effort seven years ago. I am honored to be with so many friends in macroeconomics at the 2025 Women in Macro Conference. I still read, recommend, and cite your work and am grateful to New York University and the University of Chicago for supporting this conference and this research.

    How has the arc of mainstream macroeconomic research become more closely integrated with issues related to financial stability? This question is what I would like to discuss today. I applaud the advances in incorporating financial stability into macroeconomic models, which have significantly enhanced our understanding of financial market functioning and its effect on the economy. It is a topic that holds special importance to me as a macroeconomist who has worked at the intersection of macroeconomics and finance since my dissertation and as the chair of the Federal Reserve Board’s Committee on Financial Stability. I would like to then offer my assessment of the stability of the U.S. financial system.

    Financial stability supports the objectives assigned to the Federal Reserve, including full employment and stable prices, a safe and sound banking system, and an efficient payments system. A financial system is considered stable when banks, other lenders, and financial markets are able to provide households, communities, and businesses with the financing they need to invest, grow, and participate in a well-functioning economy – and can do so even when hit by adverse events, or “shocks.” Financial instability, by contrast, arises when vulnerabilities – such as asset bubbles, excessive leverage, liquidity mismatches, or interconnected exposures – can build up to such an extent that they can amplify different shocks and threaten the core functions of the system and the functioning of the broader economy.

    MIL OSI Economics

  • MIL-OSI Economics: Lisa D Cook: Opening remarks on productivity dynamics

    Source: Bank for International Settlements

    Good afternoon. Thank you for moderating, Peter. It is an honor to be with you today, and it is always great to be back at Stanford and at the Hoover Institution. I spent several formative years of my career here, including as a National Fellow, and always enjoy returning. And it is a privilege to share the panel with Dr. Schnabel, and Presidents Musalem and Hammack. I look forward to our discussion.1

    Before that, I would like to briefly discuss a topic I see as critical to the future path of the economy: productivity growth. Productivity growth has been surprisingly strong in recent years, and this has influenced my view of the appropriate stance of monetary policy. I will also explore two ongoing developments that are likely to influence productivity growth moving forward: changes to trade policy and the wider adoption of artificial intelligence (AI). Productivity dynamics are something I have long studied closely and will continue to pay careful attention to as I consider the appropriate stance of monetary policy.

    It is helpful to start by looking back about three years to the middle of 2022. At that point, the global economy had largely reopened after pandemic closures, a historic amount of federal support had been deployed, and unemployment was falling toward a half-century low. But supply disruptions persisted, and the 12-month inflation rate reached its peak at over 7 percent. The challenge for Federal Reserve policymakers was clear: Move inflation back toward its 2 percent target while maintaining the health of the labor market. The Federal Open Market Committee (FOMC), which I joined that year, began to raise the federal funds rate from near zero, ultimately reaching just above 5 percent by mid-2023. Many forecasters predicted that a recession in 2023 was more likely than not. And yet, one did not materialize. Instead, inflation came down considerably, while unemployment remained low. How did this unusual and welcome outcome happen?

    Two notable factors were the unwinding of pandemic-era conditions that previously constrained the supply of both goods and labor in conjunction with restrictive monetary policy that contributed to a moderation in aggregate demand. Today, I would like to call attention to a third factor: a greater-than-usual increase in productivity during the pandemic recovery.

    Prior to the pandemic, from 2007 to 2019, productivity growth in the business sector averaged 1.5 percent annually. In the past five years productivity growth accelerated to 2 percent. While some of the productivity gains may reflect situations unique to the reopening of the economy, it is notable that the level of productivity, as measured by output per hour, remained above trend throughout 2023 and 2024.2 This increase in productivity was partially driven by pandemic labor shortages themselves. When it was difficult to find employees, as many Americans retired or stepped out of the labor force, many businesses innovated. For example, restaurants adopted online ordering apps and retailers accelerated the implementation of self-checkout systems.3 These changes improved efficiency and contributed to an expansion in potential gross domestic product (GDP). As a result, price pressures eased from their peak while demand remained strong.

    Improved productivity is widely beneficial to the economy. It allows workers to receive pay raises without companies needing to further increase prices and helps ensure consumers have access to the products and services they demand. Furthermore, and particularly relevant to me as a monetary policymaker, a rise in potential output lessens the need to use monetary policy to slow demand. This effect is good for the obvious reason that it allows for increasing economic growth without higher inflation. But importantly, it also lowers the risk of a policy overshoot that could cause the unemployment rate to rise.

    Now that I have reviewed the role that productivity growth played in the post-pandemic recovery, I would like to focus on two countervailing forces on productivity that I am currently studying. These are changes to trade policy and the growth of AI.

    I expect to see a drag on productivity in the near term stemming from the recent changes to trade policy and the related uncertainty, for several reasons. First, uncertainty around trade policy is likely to reduce business investment going forward. At this time, firms do not know the ultimate level and incidence of tariffs or their duration. Firms contemplating large investments might observe conditions that could hold under the paradox of thrift, wondering whether they could get a better deal if they just wait. Higher costs of imported materials and components could also cause firms to delay or scale back their investment plans. This reduction in capital formation can lead to slower technological innovation and adoption and decreased overall efficiency in production processes. Second, protectionist trade policies, while intended to support domestic industries, may inadvertently lead to a less competitive environment, if they prop up less efficient firms. And third, any supply-chain disruptions resulting from the policy changes would make production slower and less efficient. These disruptions can lead to inventory mismatches, production delays, and increased costs as firms scramble to find alternative suppliers or redesign their products to accommodate new input constraints. This set of disruptions could pose a particular challenge for monetary policymakers. A reduction in potential GDP means less slack in the economy, which, in turn, means greater inflationary pressure. According to the Taylor Principle, for which no explanation is needed at this conference, taming higher inflation requires a higher policy rate. I believe that keeping inflation expectations credibly anchored is essential. Therefore, all else equal, lower productivity could cause me to support keeping rates at a higher level for longer.

    The second ongoing economic development I see altering productivity is the rapidly expanding use of AI. I view this emerging technology as likely to have a significant positive effect on productivity growth. In fact, I see AI as poised to be at least as transformative as other general purpose technologies, such as the printing press, the steam engine, and the internet. With wider adoption of AI, we could have a surge in potential output.

    As I have discussed in several recent speeches, AI has the potential to revolutionize numerous sectors of our economy.4 We already see AI assistants boosting productivity in customer service, software development, and medical diagnosis. AI’s ability to process and analyze vast amounts of data could lead to breakthroughs in scientific research and innovation, resulting in an increased arrival rate of new ideas, further amplifying its effect on productivity.

    Of course, an AI productivity boom would come with its own set of challenges. If potential output expands too rapidly, it could leave slack in the economy and the labor market. Moreover, the productivity gains from AI may not be uniform across all sectors, job types, or tasks, leading to a transitional period as the labor market adjusts. Despite these challenges, I am optimistic about AI and its potential to drive significant productivity growth in the coming years.

    To summarize, I see an important role for productivity growth to play in assisting FOMC policymakers to achieve our dual-mandate goals. This dynamic played out, alongside other factors, in recent years when inflation eased from historic highs while the labor market remained solid. Two currently unfolding economic events are likely to influence productivity growth in the coming years-specifically, changes to trade policy and the expansion of AI. Those two developments may prove to run counter to each other, but it is too soon to predict precisely. I will be closely monitoring developments in this space. I look forward to engaging with those studying this topic including, I am sure, many in this room.

    Thank you. I look forward to the discussion.


    MIL OSI Economics