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Category: China

  • MIL-OSI: Radware Named as a Strong Performer in Analyst Report for Web Application Firewall Solutions

    Source: GlobeNewswire (MIL-OSI)

    MAHWAH, N.J., March 20, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, has been named a Strong Performer in The Forrester Wave: Web Application Firewall Solutions, Q1 2025. Radware was among the 10 top web application firewall (WAF) vendors included in the market overview.

    The report noted that Radware had the highest scores possible across six criteria, including detection models, roadmap, and pricing flexibility and transparency. According to the report: “Radware stands out for its investments in AI and automation – the recently released AI SOC Xpert tool summarizes incidents and recommends mitigations in a clear, bulleted narrative.”

    “We are honored to be recognized as a Strong Performer in The Forrester Wave for Web Application Firewall Solutions,” said Sharon Trachtman, chief marketing officer at Radware. “Radware is leveraging the latest advancements in GenAI to help customers protect their brands and significantly reduce the time, effort, and costs of managing increasingly sophisticated application security incidents. We are committed to pushing the boundaries in delivering state-of-the-art application protection.”

    Radware’s WAF is part of the company’s Cloud Application Protection Service, a single platform and unified portal that also includes industry-leading bot detection and management, API protection, client-side protection, and application-layer DDoS protection. Combining end-to-end automation, AI-powered algorithms, behavioral-based detection, and 24/7 managed services, the comprehensive solution defends against 150+ known attack vectors. This includes the OWASP’s Top 10 Web Application Security Risks, Top 10 API Security Vulnerabilities, and Top 21 Automated Threats to Web Applications.

    Radware has been recognized by numerous industry analysts for its application and network security solutions. This includes Aite-Novarica Group, Gartner, KuppingerCole, and QKS Group.

    Forrester
    Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change. For more information, read about Forrester’s objectivity here.

    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.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X and YouTube.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Safe Harbor Statement
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that we are committed to pushing the boundaries in delivering state-of-the-art application protection, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. 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, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; 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 cyber security 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, 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; 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, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security 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; 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.

    The MIL Network –

    March 21, 2025
  • MIL-OSI China: Xi Story: A chat on the village bench

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

    BEIJING, March 20 — Where does Chinese President Xi Jinping work? Beyond Zhongnanhai and the Great Hall of the People in Beijing, you are just as likely to find him far from the urban sprawl in one of the country’s countless rural villages.

    On Monday afternoon, that was exactly where he was: sitting on a bench at a drum tower, deep in conversation with folk song singers, batik artists, and college grads in a Dong ethnic village in Guizhou Province, southwest China.

    Nestled amid lush mountains, Zhaoxing Dong Village is a picture-perfect landscape of wooden stilt houses, canola flowers, and terraces awash in shades of deep and light green. Drum towers, a typical Dong architecture, stand as the heartbeat of their community life.

    As a crisp spring breeze sharpened the air, the locals opened up, sharing how their lives have shifted.

    “Ever since the Spring Festival in late January, sales of our Dong pipa have hauled in over 100,000 yuan (about 14,000 U.S. dollars). It looks like we’re on track for a record,” one villager said with a grin, referring to a string instrument used by local people.

    Another piped up, “I’m scaling up my batik shop to hire more locals.”

    A third jumped in, “We’re eyeing new tourism ventures to boost our earnings.”

    Xi leaned in, all ears, and offered his own words of encouragement and support. “Really inspiring,” he said, “From the way you put it — and the look on your faces — it’s clear this village is thriving. Tourism’s a large industry now.”

    “Regions with large ethnic minority populations must preserve their unique cultures, weave them into tourism, and let them glow even brighter,” he added.

    Before settling in for the chat, Xi had enjoyed a rendition of a Dong folk song — a lively chorus style inscribed on UNESCO’s Intangible Cultural Heritage list. He listened attentively as the group explained its origins, characteristics, and the various ways the folk art is brought to life.

    He also toured a Dong culture exhibition center and watched batik making at a specialized industrial base. “Traditional yet stylish,” he commented, nodding at its unique charm.

    Xi’s inspection tours often see him travel to some of the country’s most isolated rural communities. “Every place I visit,” he once said, “I’d make a point to check out the villages — they show a basic picture of how our people are doing.”

    His ties to the countryside are deep-rooted. Over a half century ago, he labored for seven years on the Loess Plateau, working the fields, herding livestock, and hauling coal. The work was tough, but the locals’ care and love remain with him to this day. “One thing I wished most at the time was to make it possible for the villagers to have meat for meals and have it often,” he once recalled.

    In 2012, Xi was elected to the Party’s top post — general secretary of the Communist Party of China Central Committee. When investigating the causes of poverty in Luotuowan, a village in north China’s Hebei Province, Xi took off his shoes, crossed his legs, and sat on a clay kang — a traditional heated bed — like one of the locals, holding the villagers’ hands as he listened to their struggles.

    The trip sparked a nationwide turnaround. Xi rallied the Party and country into an eight-year campaign against poverty, lifting nearly 100 million rural residents above the poverty line. For the first time in its millennia-long history, the nation eradicated absolute poverty.

    Luotuowan shook off poverty in 2017 by cultivating mushrooms and fruit while branching into tourism. Tang Zongxiu, whom Xi visited in 2012, now works as a cleaner and tour guide at a local scenery spot, pocketing 2,100 yuan monthly.

    With a moderately prosperous society secured, Xi’s next vision for the country is common prosperity. In villages, he emphasized, this means a revitalization drive aimed at narrowing the gap with cities.

    Key to this new effort is supporting the growth of thriving businesses. Xi encouraged people to play to their strengths and find a path that suits them.

    The Zhaoxing Dong Village is ahead of the curve. The Dong people have leaned into their rich heritage, pouring effort into tourism in recent years. They’ve established over 400 hotels, bed-and-breakfasts and restaurants, plus more than 60 handicraft ventures, creating over 2,000 jobs.

    In 2024, the village garnered over 1 billion yuan from tourism, and its collective ventures raked in 2.45 million yuan. This success translated into a per capita disposable income of 41,600 yuan — well above the national rural average of 23,119 yuan.

    As Xi left the drum tower, more villagers gathered. Xi flashed a smile. “The Dong people are sincere, hardworking, cultured and wise,” he said. “Keep pushing to revitalize this place as Chinese modernization moves ahead.”

    “May your lives get even more prosperous.”

    MIL OSI China News –

    March 21, 2025
  • MIL-OSI Global: Debate over H-1B visas shines spotlight on US tech worker shortages

    Source: The Conversation – USA – By Moshe Y. Vardi, Professor of Computer Science, Rice University

    Babson College graduate students from India type on their computers in Wellesley, Mass., on June 30, 2016. AP Photo/Charles Krupa

    A heated debate has recently erupted between two groups of supporters of President Donald Trump. The dispute concerns the H-1B visa system, the program that allows U.S. employers to hire skilled foreign workers in specialty occupations – mostly in the tech industry.

    On the one hand, there are people like Donald Trump’s former strategist Steve Bannon, who has called the H-1B program a “total and complete scam.” On the other, there are tech tycoons like Elon Musk who think skilled foreign workers are crucial to the U.S. tech sector.

    The H-1B visa program is subject to an annual limit of new visas it can issue, which sits at 65,000 per fiscal year. There is also an additional annual quota of 20,000 H-1B visas for highly skilled international students who have a proven ability to succeed academically in the United States.

    The H-1B program is the primary vehicle for international graduate students at U.S. universities to stay and work in the United States after graduation. At Rice University, where I work, much of STEM research is carried out by international graduate students. The same goes for most American research-intensive universities.

    As a computer science professor – and an immigrant – who studies the interaction between computing and society, I believe the debate over H-1B overlooks some important questions: Why does the U.S. rely so heavily on foreign workers for the tech industry, and why is it not able to develop a homegrown tech workforce?

    The US as a global talent magnet

    The U.S. has been a magnet for global scientific talent since before World War II.

    Many of the scientists who helped develop the atomic bomb were European refugees. After World War II, U.S. policies such as the Fulbright Program expanded opportunities for international educational exchange.

    Attracting international students to the U.S. has had positive results.

    Among Americans who have won the Nobel Prize in chemistry, medicine or physics since 2000, 40% have been immigrants.

    In 2023, U.S.-born Louis Brus, left, shared the Nobel Prize in chemistry with U.S. immigrants Alexei Ekimov, born in the former USSR, and Moungi Bawendi, born in France.
    AP Photo

    Tech industry giants Apple, Amazon, Facebook and Google were all founded by first- or second-generation immigrants. Furthermore, immigrants have founded more than half of the nation’s billion-dollar startups since 2018.

    Stemming the inflow of students

    Restricting foreign graduate students’ path to U.S. employment, as some prominent Trump supporters have called for, could significantly reduce the number of international graduate students in U.S. universities.

    About 80% of graduate students in American computer science and engineering programs – roughly 18,000 students in 2023 – are international students.

    The loss of international doctoral students would significantly diminish the research capability of graduate programs in science and engineering. After all, doctoral students, supervised by principal investigators, carry out the bulk of research in science and engineering in U.S. universities.

    It must be emphasized that international students make a significant contribution to U.S. research output. For example, scientists born outside the U.S. played key roles in the development of the Pfizer and Moderna COVID-19 vaccines. So making the U.S. less attractive to international graduate students in science and engineering would hurt U.S. research competitiveness.

    Computing Ph.D. graduates are in high demand. The economy needs them, so the lack of an adequate domestic pipeline seems puzzling.

    Where have US students gone?

    So, why is there such a reliance on foreign students for U.S. science and engineering? And why hasn’t America created an adequate pipeline of U.S.-born students for its technical workforce?

    After discussions with many colleagues, I have found that there are simply not enough qualified domestic doctoral applicants to fill the needs of their doctoral programs.

    In 2023, for example, U.S. computer science doctoral programs admitted about 3,400 new students, 63% of whom were foreign.

    It seems as if the doctoral career track is simply not attractive enough to many U.S. undergrad computer science students. But why?

    The top annual salary in Silicon Valley for new computer science graduates can reach US$115,000. Bachelor’s degree holders in computing from Rice University have told me that until recently – before economic uncertainty shook the industry – they were getting starting annual salaries as high as $150,000 in Silicon Valley.

    Doctoral students in research universities, in contrast, do not receive a salary. Instead, they get a stipend. These vary slightly from school to school, but they typically pay less than $40,000 annually. The opportunity cost of pursuing a doctorate is, thus, up to $100,000 per year. And obtaining a doctorate typically takes six years.

    So, pursuing a doctorate is not an economically viable decision for many Americans. The reality is that a doctoral degree opens new career options to its holder, but most bachelor’s degree holders do not see beyond the economics. Yet academic computing research is crucial to the success of Silicon Valley.

    A 2016 analysis of the information technology sectors with a large economic impact shows that academic research plays an instrumental role in their development.

    Why so little?

    The U.S. is locked in a cold war with China focused mostly on technological dominance. So maintaining its research-and-development edge is in the national interest.

    Yet the U.S. has declined to make the requisite investment in research. For example, the National Science Foundation’s annual budget for computer and information science and engineering is around $1 billion. In contrast, annual research-and-development expenses for Alphabet, Google’s parent company, have been close to $50 billion for the past decade.

    Universities are paying doctoral students so little because they cannot afford to pay more.

    Alphabet CEO Sundar Pichai speaks at a Google I/O event in Mountain View, Calif., on May 14, 2024.
    AP Photo/Jeff Chiu

    But instead of acknowledging the existence of this problem and trying to address it, the U.S. has found a way to meet its academic research needs by recruiting and admitting international students. The steady stream of highly qualified international applicants has allowed the U.S. to ignore the inadequacy of the domestic doctoral pipeline.

    The current debate about the H-1B visa system provides the U.S. with an opportunity for introspection.

    Yet the news from Washington, D.C., about massive budget cuts coming to the National Science Foundation seems to suggest the federal government is about to take an acute problem and turn it into a crisis.

    Moshe Y. Vardi receives funding from the National Science Foundation and the US Office of Naval Research.

    – ref. Debate over H-1B visas shines spotlight on US tech worker shortages – https://theconversation.com/debate-over-h-1b-visas-shines-spotlight-on-us-tech-worker-shortages-248711

    MIL OSI – Global Reports –

    March 21, 2025
  • MIL-OSI Asia-Pac: President Lai attends AmCham Taiwan 2025 Hsieh Nien Fan  

    Source: Republic of China Taiwan

    Details
    2025-03-18
    President Lai meets Arizona Governor Katie Hobbs  
    On the afternoon of March 18, President Lai Ching-te met with a delegation led by Arizona Governor Katie Hobbs. In remarks, President Lai said that Taiwan and Arizona enjoy close economic and trade relations, and expressed hope that through our joint efforts, Arizona will become a shining example for Taiwan-United States high-tech collaboration and the creation of non-red supply chains. The president indicated that the next goal for Taiwan and the US is the signing of an agreement for the avoidance of double taxation, which would provide greater incentives for Taiwanese businesses to invest in the US, facilitate the establishment of more comprehensive industry clusters, and generate more job opportunities, representing a win-win outcome for Taiwan-US relations. A translation of President Lai’s remarks follows: I warmly welcome you all to the Presidential Office. Governor Hobbs previously visited Taiwan after taking office in 2023. Her leading a delegation to Taiwan once again demonstrates Arizona’s continued friendship and the importance Arizona attaches to Taiwan. For this, I express my sincerest gratitude, and I welcome you again. In recent years, ties between Taiwan and Arizona have continued to expand and progress. For example, Taiwan Semiconductor Manufacturing Company (TSMC)’s investment in Arizona is the largest greenfield investment in US history. This month, TSMC announced that it would increase its investment in the US by US$100 billion. It plans to build more semiconductor fabrication and research and development facilities in greater Phoenix, transforming the area into a US semiconductor hub. Due to our close industrial engagement, we now have more than 30,000 Taiwanese living in Arizona. I would like to thank Governor Hobbs for taking care of Taiwanese businesses and people. I believe that through our joint efforts, Arizona will become a shining example for Taiwan-US high-tech collaboration and the creation of non-red supply chains. Taiwan and Arizona also enjoy close economic and trade relations. Taiwan is Arizona’s eighth largest export market and fifth largest source of imports. Last December, the first agreement under the Taiwan-US Initiative on 21st-Century Trade officially came into effect. I believe this will help further deepen our trade and economic ties. At present, the next goal for Taiwan and the US is the signing of an agreement for the avoidance of double taxation. I hope that we can work together to achieve this goal as soon as possible. This would provide greater incentives for Taiwanese businesses to invest in the US, facilitate the establishment of more comprehensive local industry clusters, and generate more job opportunities, representing a win-win outcome. With Governor Hobbs’s support, we look forward to continuing to advance Taiwan-US relations and promoting further cooperation and exchanges between Taiwan and Arizona across all domains. I understand that during this visit, you have visited many important companies and exchanged opinions with government agencies on how to strengthen bilateral relations. These efforts all go toward building an even more solid foundation for future Taiwan-US cooperation. Once again, I thank you all for supporting Taiwan and welcome you to visit us often in the future. Governor Hobbs then delivered remarks, stating that under President Lai’s leadership, Taiwan continues to thrive as a global hub for technology, innovation, and advanced manufacturing. She said that she is proud to be back in Taiwan alongside her secretary of commerce, Sandra Watson, as part of a diplomatic and economic delegation from Arizona. Since arriving, she said, they’ve hit the ground running, meeting with key partners, businesses, and leaders, noting that the takeaway from their meetings has been incredibly positive, and that they underscore the strong and enduring partnership between Arizona and Taiwan. Adding that our partnership that is built on shared values, mutual cultural appreciation, and commitment to innovation and economic growth, Governor Hobbs indicated that Arizona and Taiwan’s partnership extends back decades, as Taiwanese fighter pilots have been training at Luke Air Force Base in Phoenix since 1996. She said that we have built a strong base of collaboration across many areas, including technology, workforce, and cultural exchange, and that Arizona is even slated to get its own Din Tai Fung (鼎泰豐), which she expressed she is very thrilled about. Governor Hobbs went on to say that Arizona’s relationship with Taiwan is anchored by its ongoing partnership with TSMC and many Taiwan-based companies in semiconductor and other industries, and that TSMC’s US$165 billion investment in Arizona will help power development of the world’s most advanced technology, such as AI, and promises to cement an unbreakable bond between our two economies.  She stated that as governor, she can say with confidence that her administration is fully committed to strengthening this relationship in every way possible, because when Arizona and Taiwan succeed, we all succeed. Lastly, Governor Hobbs once again expressed gratitude to President Lai and the people of Taiwan for their warm hospitality. She then invited President Lai to Arizona to continue their productive conversations and further strengthen ties between our people and our economies, adding that she knows there is no limit to what we can achieve together, and that she is looking forward to what is to come. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-03-18
    President Lai meets delegation led by Minister of Foreign Affairs Denzil Douglas of Saint Christopher and Nevis
    On the afternoon of March 18, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Denzil Douglas of the Federation of Saint Christopher and Nevis. In remarks, President Lai thanked St. Kitts and Nevis for speaking up for Taiwan at major international venues and supporting Taiwan’s international participation. The president expressed hope that our two countries continue to achieve remarkable results through cooperation in such fields as education and training, agricultural development, women’s empowerment, and environmental sustainability, and create even greater well-being for our peoples. A translation of President Lai’s remarks follows: I welcome Minister Douglas and our esteemed guests to Taiwan. Last June, Minister Douglas accompanied Prime Minister Terrance Drew and his wife on their trip to Taiwan. I am delighted to be able to meet and exchange views with Minister Douglas again less than one year later. Your presence fully demonstrates the profound bond between Taiwan and St. Kitts and Nevis. I look forward to the further deepening of our partnership through our exchanges during this visit. Although our two nations are separated by a great distance, we share such universal values as democracy, freedom, and respect for human rights. We also continue to achieve remarkable results through cooperation in such fields as education and training, agricultural development, women’s empowerment, and environmental sustainability. Given that Prime Minister Drew, Minister Douglas, and I all share medical backgrounds, we deeply understand the importance of people’s health. I thus look forward to St. Kitts and Nevis’s climate-smart JNF General Hospital commencing operations as soon as possible thanks to our cooperation. The provision of even higher-quality public health and medical services will yield benefits for many more people. I also believe that by having Taiwan share its experiences in renewable energy and energy-saving technologies, our two countries will jointly drive green industrial transformation and stimulate sustainable development together. I would like to take this opportunity to thank St. Kitts and Nevis for actively speaking up for Taiwan and supporting Taiwan’s participation at such major international venues and organizations as the United Nations General Assembly, the World Health Organization, and the International Civil Aviation Organization. In the future, Taiwan will continue to make critical contributions to the international community. With the support of Minister Douglas and our guests, I look forward to our two countries backing each other on the global stage and continuing to build an even stronger foundation for bilateral cooperation. Let us work together to address the various challenges we face and create even greater well-being for our peoples. Minister Douglas then delivered remarks, first conveying greetings from Prime Minister Drew to President Lai, the government, and the people of Taiwan. He then stated that over the last 41 years since the dawn of their nationhood, the Republic of China Taiwan has steadfastly walked beside St. Kitts and Nevis as a strong and immovable partner. As we reflect on four decades of our journey together, he said, we recognize the unswerving and unwavering spirit that has guided both our nations through trials and challenges. The minister then acknowledged the generous support of Taiwan’s government that has helped St. Kitts and Nevis in its own economic and social development. He went on to say that Taiwan’s partnership with St. Kitts and Nevis has been instrumental in helping them achieve the goals of their sustainable island state agenda. Whether in enhancing food security through the diversification of their agricultural sector, fostering clean energy solutions through the solar PV farm, or advancing healthcare through assistance in building their smart hospital, he said, Taiwan has been a steadfast partner in shaping a much more resilient and sustainable future for the people of their federation. In the spirit of reciprocity and solidarity, Minister Douglas said, St. Kitts and Nevis continues to leverage opportunities on the global stage to request incessantly that Taiwan be given its rightful place in international organizations, where it can make a meaningful contribution to resolving the world’s most critical issues. Minister Douglas indicated that the global challenges we face today demand collective action, and that Taiwan has the innovation, the technology, the knowledge, and the expertise to make a tremendous positive impact on some of the world’s most urgent issues. He said that St. Kitts and Nevis will never grow weary in their own support, but shall continue to sound the clarion call of “let Taiwan in,” as well as advocate for peace to be maintained in the Taiwan Strait. To close, Minister Douglas expressed gratitude for the warm hospitality bestowed upon him and his delegation by Taiwan’s government, remarking that the engagements they had thus far were pregnant with promise, and that they are confident in witnessing a fruitful outcome as we work together to build a prosperous and sustainable future for our peoples. The delegation also included Permanent Secretary in the Ministry of Foreign Affairs Kaye Bass, Permanent Secretary of Economic Development and Investment Adina Richards, and Director in the Ministry of International Trade Sean Lawrence. The delegation was accompanied to the Presidential Office by St. Kitts and Nevis Ambassador Donya L. Francis.

    Details
    2025-03-18
    President Lai meets 2025 Yushan Forum participants
    On the afternoon of March 18, President Lai Ching-te met with participants in the 2025 Yushan Forum. In remarks, President Lai thanked the guests for gathering here in Taiwan and discussing ways to enhance regional cooperation, demonstrating that our democratic allies and friends are standing together as we take on the challenges of a new world and a new era. The president reiterated that Taiwan will continue to engage with the world, and we welcome the world to come closer to Taiwan. He stated that Taiwan will continue to work with international partners to deepen cooperation, exchanges, and partnership in various domains and resist the expansion of authoritarianism. Together, the president emphasized, we can pursue regional peace and security and realize a new vision for a free and open, stable and prosperous Indo-Pacific. A translation of President Lai’s remarks follows: I would like to begin by thanking Anders Fogh Rasmussen, former prime minister of Denmark and chairman of the Alliance of Democracies Foundation, for inviting then-President Tsai Ing-wen to address the Copenhagen Democracy Summit via video over five consecutive years since 2020, and for inviting myself to give remarks via video last year. Those opportunities allowed Taiwan to share with the world our motivation for, and our work toward, safeguarding freedom and democracy. I would also like to thank Mr. Janez Janša, former prime minister of the Republic of Slovenia, who has visited Taiwan many times already, for actively elevating the cordial ties between Taiwan and Slovenia during his term as prime minister, helping expand friendship for Taiwan throughout Europe. Today’s guests have traveled a long way to show their strong backing for Taiwan. For this, I express my deepest gratitude. Yesterday was my first time attending the Yushan Forum as president. I saw political leaders and representatives gather here in Taiwan and discuss ways to enhance regional cooperation. The event demonstrated that our democratic allies and friends are standing together as we take on the challenges of a new world and a new era. It was truly moving. As I stated at the opening ceremony, Taiwan will continue to engage with the world, and we welcome the world to come closer to Taiwan. Our government will help guide Taiwanese small- and medium-sized enterprises as they expand into the international market and extend Taiwan’s economic power. I hope that during this visit, our guests will be able to explore more opportunities for cooperation in such fields as AI, smart healthcare, and advanced technologies, and join hands in contributing to the prosperity and development of our democratic allies and friends. Taiwan will continue to work with international partners, building upon the shared values of freedom and democracy, to deepen cooperation, exchanges, and partnership in various domains and resist the expansion of authoritarianism. Together, we can pursue regional peace and security and realize a new vision for a free and open, stable and prosperous Indo-Pacific. And I hope, with the assistance of our guests here today, that we can further strengthen the ties between Taiwan and Europe so that we can all take up the work of maintaining global peace and stability. Once again, I welcome our guests to Taiwan. I look forward to hearing your thoughts in a few moments. I also hope you will visit Taiwan often in the future and continue to experience our vibrant democratic society and culture. Chairman Rasmussen then delivered remarks, saying that it is a great pleasure to be back here in Taipei after meeting with President Lai in 2023. He then thanked President Lai for the Taiwanese hospitality on behalf of the Yushan Forum international visitors and participants, who represent four continents and very different political parties but who are united by one thing – the commitment to democracy. Chairman Rasmussen mentioned that over the past few days, they have met with members of the government, legislature, and civil society in Taiwan. He said that he is more convinced than ever that in a very uncertain world, Taiwan continues to stand as a beacon of democracy, from which people in Europe and in the rest of the world have a lot to learn. Over the past eight years, he has been proud to step up his engagement with Taiwan, he said, as he has always subscribed to the view that freedom must advance everywhere, or else it is in decline everywhere. Chairman Rasmussen noted that they have many interests in making sure Taiwan remains free and that we must always stand up for freedom when it is under assault by a dictator. This is why Ukraine’s fight is also everyone’s fight, he explained. He then praised Taiwan for all of the support it has given to Ukraine since Russia’s invasion and honored the two Taiwanese volunteer soldiers who gave their lives for freedom in Ukraine. Chairman Rasmussen remarked that Taiwan is a strong feature of the Copenhagen Democracy Summit that he convenes each year. His foundation, the Alliance of Democracies, has even been sanctioned by the Chinese government due to its support of Taiwan, he said, which is something he takes as a badge of honor. He added that this year’s Copenhagen Democracy Summit in May will be no different, as they plan to focus on the new world order, urgent measures to strengthen Europe’s military, and the situation in Ukraine. But as the United States pulls back from the transatlantic alliance and Europe focuses more on its own defense, he said, Europe should not retreat from the world. He added that to ensure European security, we need more Europe in the Indo-Pacific, and that is why he has been making the argument for more political and economic cooperation with Taiwan. Chairman Rasmussen praised President Lai’s recent decision to increase Taiwan’s national defense budget to more than 3 percent of GDP, adding that it is important that each nation does what it can for its own defense. The chairman once again thanked President Lai for meeting with them today and for the opportunity to visit Taiwan, a beacon of democracy and liberty in Asia. Also in attendance at the meeting were Chairman of the Czech Senate Committee on Foreign Affairs, Defence and Security Pavel Fischer; Member of the National Security Advisory Board to India’s National Security Council Anshuman Tripathi; former Minister of Foreign Affairs of Poland Anna Fotyga; former Minister of Health of Canada Tony Clement; and former Vice-Minister of Foreign Affairs of the Republic of Lithuania and current Secretary General of the Polish-based Community of Democracies Mantas Adomėnas.

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    2025-03-17
    President Lai meets Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji
    On the afternoon of March 17, President Lai Ching-te met with a delegation led by Japanese House of Representatives Member and Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji. In remarks, President Lai thanked the Consultative Council for doing its utmost to strengthen the relationship between Taiwan and Japan. He also stated that Taiwan and Japan are both part of the first island chain’s key line of defense, and in addition to continuing to bolster its economic strength and enhance its self-defense capabilities, Taiwan will work together with Japan and other like-minded countries to promote regional and global democracy, peace, and prosperity. A translation of President Lai’s remarks follows: I would like to extend a warm welcome to Chairman Furuya, who is visiting us once again. I am also delighted to meet House of Councillors Member Yamamoto Junzo and House of Representatives Member Hiranuma Shojiro today. Although the Japanese Diet is currently in session, our distinguished guests overcame many hurdles and organized a delegation to attend the 2025 Yushan Forum and deliver speeches, providing valuable insights into issues of mutual concern in the Indo-Pacific region and demonstrating the support for Taiwan in the Diet. Here, I would like to express my deepest gratitude. During the Yushan Forum, it was especially inspiring when Chairman Furuya spoke Taiwanese when he emphasized that “if Taiwan has a problem, then Japan has a problem.” Over the past few years under Chairman Furuya’s leadership, the Consultative Council has done its utmost to strengthen the relationship between Taiwan and Japan. In addition to passing resolutions every year supporting Taiwan’s participation in the World Health Organization and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the council has established four internal research groups regarding the CPTPP, exchanges for women legislators, encouraging local-level exchanges, and the Taiwan Relations Act, using an issue-oriented approach to deepen Taiwan-Japan relations. Thanks to the Consultative Council’s long-term assistance and promotional efforts, the Japanese Ministry of Justice has announced that beginning this May, members of the Taiwanese overseas community in Japan included in the country’s family registry system may list “Taiwan” in the field designating their nationality or region of origin. This demonstrates the friendly relations between Taiwan and Japan, and the Taiwanese people will always remember the council’s continued concrete actions in support of Taiwan. In his remarks at the Yushan Forum today, Chairman Furuya mentioned that there are many areas in which Taiwan and Japan can engage in industrial cooperation. We can continue to deepen our partnership in semiconductors, energy, AI, unmanned aerial vehicles, and other areas related to economic security and supply chain resilience, all of which have significant room for cooperation, creating win-win situations for both Taiwan and Japan. As authoritarianism consolidates, democratic nations must come closer in solidarity. Taiwan and Japan are both part of the first island chain’s key line of defense. In addition to bolstering our economic strength and enhancing our self-defense capabilities, Taiwan will also work with Japan and other like-minded countries to promote regional and global democracy, peace, and prosperity. All of our distinguished guests are good friends of Taiwan, and are very familiar with Taiwan. I hope to continue working together with you all to carry Taiwan-Japan relations to an even higher level. Chairman Furuya then delivered remarks, first thanking President Lai for taking time out of his busy schedule to see them. He then noted that Japan, Taiwan, and quite a few other nations around the world changed leaders last year, and conditions around the world are becoming increasingly unstable. One cannot see what the world will be like a few years from now, he said, which is why he is counting so heavily on the strong leadership of President Lai. Chairman Furuya said that, in addition to collaboration in foreign affairs and security matters, economic cooperation between Taiwan and Japan is also very important. He mentioned new technologies, and said he had spoken quite a bit on the topic that very morning at the Yushan Forum. The clearest example, he said, is the establishment by Taiwan Semiconductor Manufacturing Company of a wafer plant in Japan’s Kumamoto Prefecture, which has sparked robust economic activity. He added that cooperation addressing such matters as cyberattacks and supply chain resilience is also very important. Chairman Furuya noted that President Lai had mentioned in his remarks that beginning from May, Taiwanese overseas community members in Japan will be able to list “Taiwan” on their family registers. The chairman expressed his view that this is not a foreign affairs issue, but rather a human rights issue for the Taiwanese people, and an excellent way to show respect for Taiwan. He further noted President Lai’s mentioning of the four research groups that the Consultative Council has established, and said that these groups will ramp up their work. He also expressed hope that Taiwan and Japan will work together to address challenges that face both countries, such as issues pertaining to democracy and peace in the Taiwan Strait, so that they can together push for international peace and stability. Chairman Furuya stated that reciprocal visits by Taiwanese and Japanese people reached an all-time high last year. He said that in the future, in addition to further promoting local exchanges between the two countries, he also hopes that Japanese middle school and high school students planning to go on overseas study trips will choose Taiwan as their destination, because he feels that any student who visits Taiwan will become a fan of this place. Also in attendance was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

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

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

    MIL OSI Asia Pacific News –

    March 21, 2025
  • MIL-OSI: Global Drone Services Market Size Predicted to Surpass Around $555 Billion By 2034

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., March 20, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The drone services worldwide market has been growing substantially in recent years and is projected to continue into the several years to come. According to a report from Precedence Research, the global drone services market size accounted for USD 24.56 billion in 2024, grew to USD 33.55 billion in 2025 and is predicted to surpass around USD 555.58 billion by 2034, representing a healthy CAGR of 36.60% between 2024 and 2034. The North America drone services market size is calculated at USD 8.84 billion in 2024 and is expected to grow at a fastest CAGR of 36.78% during the forecast year. The report said: “North America held the highest share of the global drone services market in terms of value. This is due to major service providers’ presence and early adoption of high-end drone technologies. Furthermore, the region’s market is driven by increased demand for aerial photography in the real estate and construction sectors. The US is a significant market for drone services in North America, accounting for a large share of the region’s market.   Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. Large drone service providers exist in APAC countries such as China and Japan. Limited regulation on commercial drone use and price drop drive market demand. Furthermore, the rise is attributed to increased government and OEM investments in drone services propelling the market. The rising demand for industry-specific solutions and the increasing demand for time-efficient delivery are driving the growth of the drone service market… Along with this, the growing initiative from governments and regulatory bodies to develop drones propels the market forward.”   Active Companies in the drone industry today include ZenaTech, Inc. (NASDAQ: ZENA), EHang Holdings Limited (NASDAQ: EH), AgEagle Aerial Systems Inc. (NYSE: UAVS), Unusual Machines (NYSE: UMAC), ParaZero Technologies Ltd. (NASDAQ: PRZO).

    Precedence Research continued: “Due to the widespread availability of low-cost drones, photography has become well-known for applications requiring high-resolution cameras. Aerial photography offers new perspectives on innovative city projects, large township projects, and multi-story building projects. Mini drones are also becoming popular for wedding photography and videography. Furthermore, the real estate and infrastructure industries also see increased demand for drones. Drones are used for various commercial purposes, including agriculture, transportation, mapping, aerial photography, and videography. Drones increase productivity and improve farming methods. The growing demand for precision farming propels the agricultural industry and expands the drone services market. Precision farming has the potential to increase crop productivity.”

    ZenaTech (NASDAQ:ZENA) Signs Seventh LOI to Acquire a Land Survey Company in Southeast Region Contributing to Drone as a Service Strategy – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that it has signed an LOI (Letter of Intent) to acquire a seventh land survey engineering company located in Florida, marking the fourth LOI in the Southeast Region. The company has closed one acquisition in this region to date so upon completion, this would be the second closed acquisition in the Southeast Region. Having two locations in this region will serve as a launchpad to further regional development and ZenaTech’s national DaaS business model bringing the speed and precision of AI drone solutions in a convenient subscription or pay-per-use business model to commercial and government customers.

    “Florida is strategic to our Drone as a Service strategy as it offers year-round flying conditions, a favorable innovation environment including consistent state-wide regulations, and existing government drone use for public safety, disaster response, and transportation monitoring. With growing commercial sector interest in agriculture, real estate, construction, and industrial inspection applications, we see multiple growth paths to help customers use drones to drive extraordinary efficiencies,” said CEO Shaun Passley, Ph.D.

    ZenaTech’s Drones as a Service or DaaS model is similar to Software as a Service (SaaS), but instead of providing software solutions over the Internet, the company will offer ZenaDrone solutions and services on a subscription or pay-per-use basis. Customers can conveniently access drones for manual or time-consuming tasks achieving more insight and precision, such as for surveying, inspections, security and law enforcement, or precision agriculture applications, without having to buy, operate, or maintain the drones themselves.

    The DaaS business model offers customers such as government agencies, real estate developers, construction firms, farmers or energy companies reduced upfront costs as there is no need to purchase expensive drones, as well as convenience, as there is no need to manage maintenance and operation. The model also offers scalability to use more often or less often based on business needs and enables access to advanced drone technology sensors or attachments like spraying, without the need for specialized training.

    Accurate land surveys are essential for the planning, designing, and executing roads, bridges, and building projects for cities, commercial, and residential projects, and are required for legal purposes. Remotely piloted drones with an array of sensors and cameras, LiDAR (Light Detection and Ranging), and GPS systems for capturing high-resolution pictures and data are revolutionizing the land survey industry gathering aerial data across expansive terrains in a matter of hours instead of weeks or months using more traditional photogrammetry methods.   Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the drone industry include:

    EHang Holdings Limited (NASDAQ: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, recently announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024. Mr. Huazhi Hu, Founder, Chairman and Chief Executive Officer of EHang: “We are thrilled to have concluded 2024 with a series of achievements that have propelled us closer to the widespread commercial adoption of eVTOLs. As a pioneer in the UAM industry, we achieved our highest-ever quarterly and annual eVTOL deliveries, driving revenues to record-high levels and delivering our first year of non-GAAP profitability. This underscores the accelerating adoption of our pilotless eVTOL solutions. We worked on our production capacity expansion, deepened ecosystem partnerships for infrastructure and talents, and advanced our footprint in Asia, Europe and South America. Looking ahead to 2025, our focus remains on driving innovation, expanding our operational network, and scaling production to meet increasing demands and unlock the full potential of UAM. We are confident in our ability to lead the transformation of aerial transportation and deliver long-term value to our stakeholders.”

    AgEagle Aerial Systems Inc. (NYSE: UAVS), a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, recently announced the recent completion of a successful four-day proof-of-concept demonstration with France’s Directorate General for Maritime Affairs, Fisheries, and Aquaculture (DGAMPA) testing eBee VISION’s advanced capabilities.

    AgEagle CEO Bill Irby commented, “This successful demonstration underscores the potential of the eBee VISION for enhancing maritime security and environmental protection efforts. Multiple flights were carried out in diverse conditions, both day and night. Our eBee VISION demonstrated outstanding performance, operating within a 20 km range and temperatures as low as 5°C, as well as landing smoothly on sand. Throughout the trials, various observation scenarios were tested for maritime control and surveillance, all of which were completed with positive results. This success not only highlights the robust performance of our technology but also validates the potential for growth across various markets.”

    Unusual Machines (NYSE: UMAC), a leading provider of NDAA-compliant drone components, recently announced that its Fat Shark Aura FPV Camera has been added to the U.S. Defense Department’s Defense Innovation Unit’s (DIU) Blue UAS Framework. It is the only camera on the Blue UAS list purpose-built for first person view (“FPV”) applications, providing a high-performance, NDAA-compliant option for defense and government users.  

    This approval marks another step forward in Unusual Machines’ mission to supply NDAA-compliant FPV components for both commercial and defense applications. The Fat Shark Aura FPV Camera joins the Rotor Riot Brave F7 Flight Controller and Brave 55A ESC, both of which have already been approved under the Blue UAS Framework.

    ParaZero Technologies Ltd. (NASDAQ: PRZO), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, recently announced that is has received its first order from the strategic partnership that the company recently announced that it entered into with ABOT, one of France’s largest drone distributors of advanced drone solutions for various industries. This partnership, announced earlier this month, was established as part of the company’s effort to expand the availability of its cutting-edge SafeAirTM parachute recovery systems in the French market. Under this new collaboration, ABOT will become an official reseller of ParaZero’s SafeAir products in France, with the two companies jointly launching a new brand, ABOT-PZ SafeAir, to align with local market preferences.

    ParaZero’s SafeAir system is a state-of-the-art drone safety solution designed to enable safe and legal drone operations in urban and high-risk environments. The system features an autonomous parachute deployment mechanism, real-time monitoring and advanced failure detection, ensuring a controlled descent in the event of an emergency. SafeAir provides a critical safety layer for commercial drone operations, supporting compliance with global aviation regulations.

    About FN Media Group:

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    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    The MIL Network –

    March 21, 2025
  • MIL-OSI USA: U.S. ethane production, consumption, and exports set new records in 2024

    Source: US Energy Information Administration

    In-brief analysis

    March 20, 2025


    U.S. ethane production, consumption, and exports reached record highs in 2024, according to recent data from our Petroleum Supply Monthly. Increasing ethane recovery associated with natural gas production and continued growth in the domestic and global petrochemical sectors drove these increases.

    U.S. ethane production rose 7% to average a record 2.8 million barrels per day (b/d) in 2024, driven by increased ethane recovery in the Permian Basin. In the United States, almost all ethane is recovered at natural gas processing plants, which remove ethane and other natural gas plant liquids (NGPL) from raw natural gas. The Texas Inland and New Mexico refining districts, which span the Permian Basin, accounted for 63% of all U.S. ethane production in 2024, up from 61% in 2023. Production in those districts averaged 1.8 million b/d, up 9% from 2023. The Appalachian No. 1 Refining District, which straddles most of the Appalachian Basin in Pennsylvania and West Virginia, produced a record 327,000 b/d in 2024, up 13% from 2023. It accounted for 12% of the U.S. total, up from 11% the previous year.

    Domestic ethane consumption, measured as product supplied, rose 8% in 2024 to a record 2.3 million b/d. In the United States, ethane is consumed almost exclusively in the petrochemical industry as a feedstock for steam crackers to produce ethylene. The rise in consumption came from higher cracker operating rates in 2024 compared with 2023, as no new crackers came online in the United States in 2024. Ethane consumption on the U.S. Gulf Coast rose 5% to 2.1 million b/d in 2024. On the East Coast, consumption nearly tripled to 103,000 b/d in 2024 as Shell’s cracker in Monaca, Pennsylvania, continued to ramp up its production after starting up in late 2022.

    U.S. ethane exports averaged a record 492,000 b/d in 2024, a 21,000-b/d increase from the previous record set in 2023. Growth in global petrochemical sector demand and rising tanker capacity have driven the increases in U.S. ethane exports. Ethane exports increased almost every year since 2014 except in 2020 when muted global demand related to the COVID-19 pandemic caused a slight decrease in exports. Low prices for U.S. ethane compared with other feedstocks globally contributed to the record exports last year. China imported 46% of U.S. ethane exports, followed by Canada (15%), India (13%), and Norway (9%).

    Data source: Bloomberg, L.P., and Natural Gas Intelligence
    Note: The Houston Ship Channel is the closest natural gas pricing hub to the Mont Belvieu natural gas plant liquids pricing hub. Natural gas prices rose to $8.78 per million British thermal units on January 12, 2024, during Winter Storm Heather. Fractionation is the process by which saturated hydrocarbons are removed from natural gas and separated into distinct products, or fractions, such as propane, butane, and ethane.


    U.S. ethane prices at Mont Belvieu, Texas, the main pricing hub for NGPLs, were volatile through 2024. Ethane prices averaged under 20 cents per gallon (gal) for the year (approximately $3 per million British thermal units [MMBtu]) but averaged 25 cents/gal ($3.70/MMBtu) in December as natural gas prices rose to 2024 highs. In comparison, the natural gas price at the Houston Ship Channel averaged $1.86/MMBtu in 2024 but averaged $2.66/MMBtu during the month of December, the highest monthly average of the year. When ethane prices are high relative to natural gas prices, plant operators can recover more ethane from the natural gas stream. However, when ethane prices and natural gas prices are closer, more ethane can be left in the natural gas stream and sold for its heat value.

    In our March 2025 Short-Term Energy Outlook, we forecast that average U.S. ethane production will remain flat at 2.8 million b/d in 2025 and rise to 3.0 million b/d in 2026. Average U.S. ethane consumption will remain flat at 2.3 million b/d in 2025 and 2026, and exports will increase to 530,000 b/d in 2025 and 630,000 b/d in 2026.

    Principal contributor: Jordan Young

    MIL OSI USA News –

    March 21, 2025
  • MIL-OSI Global: Trump’s phone call with Putin fails to deliver a full ceasefire – here’s what could happen next

    Source: The Conversation – UK – By Stefan Wolff, Professor of International Security, University of Birmingham

    After more than two hours on the phone on Tuesday, March 17, the US president, Donald Trump, and his Russian counterpart, Vladimir Putin, agreed only to confidence-building measures, not a ceasefire between Ukraine and Russia. The two leaders came away from the call having agreed on a limited prisoner exchange, a suspension of attacks on energy infrastructure, and the creation of working groups to explore further steps towards a ceasefire and ultimately a peace agreement, a proposal which Ukraine’s president, Volodymyr Zelensky has since agreed to in his call with the US president.

    A less charitable way of looking at the outcome of the second call between the two presidents since Trump returned to the White House would be that the ball is now back in America’s court. Putin made it crystal clear to Trump that he is not (yet) in the mood for any compromise.

    This is hardly surprising given recent events.

    The US has pressured Ukraine mercilessly into accepting a proposal for a 30-day ceasefire, which Trump hoped Russia would also agree to. But apart from a vague statement by Trump that he might consider sanctions against Russia, he has so far seemed unwilling to contemplate putting any meaningful equivalent pressure on Putin.


    Sign up to receive our weekly World Affairs Briefing newsletter from The Conversation UK. Every Thursday we’ll bring you expert analysis of the big stories in international relations.


    On the ground, Russia has gained the upper hand in the Kursk region where Ukrainian troops have ceded most of the territory they captured after a surprise offensive last summer. Once Putin’s forces, assisted by thousands of North Korean soldiers, have succeeded in driving the Ukrainians out of Russia, Kyiv will have lost its most valuable bargaining chip in negotiations with Moscow.

    Meanwhile, Russia has also made further gains on the frontlines inside Ukraine especially in parts of Kherson and Zaporizhzhia. These are two of the four regions (the other two are Donetsk and Luhansk) that Putin has claimed for Russia in their entirety since sham referendums in September 2022, despite not yet having full control of them.

    If Russia were to capture yet more Ukrainian territory, Putin would probably find it even easier to convince Trump that his demands are reasonable. The fact that Trump already hinted at a “dividing of assets”, including the nuclear power plant at Zaporizhzhia – Europe’s largest before its forced shutdown in September 2022 – is a worrying indication of how far the Russian president has already pushed the envelope.

    Ukraine war: territory occupied by Russia as at March 18 2025.
    Institute for the Study of War

    But a deal solely between Russia and the US is not going to work. In that sense, time is not only on Putin’s side but also on Zelensky’s.

    The Russian readout of the call between the two presidents claimed that they had discussed “the complete cessation of foreign military assistance and the provision of intelligence information to Kyiv” as a key condition for moving forward – something that Trump subsequently denied in an interview with Fox. This means that, for now, Kyiv is likely to continue to receive US aid.

    Europe at the ready

    Perhaps more importantly in the long term, Europe is also doubling down on support for Ukraine. While Trump and Putin were discussing a carve-up of Ukraine over the phone, the president of the European Commission, Ursula von der Leyen, left no doubt on where the EU stands.

    In a speech at the Royal Danish Military Academy foreshadowing the publication of the commission’s Readiness 2030 white paper on bolstering European defences, she recommitted to developing European “capabilities to have credible deterrence” against a hostile Russia.

    A few hours later, the German parliament passed a multi-billion Euro package that loosens the country’s tight borrowing rules to enable massive investments in defence. This follows announcements of increased defence elsewhere on the continent, including in the UK, Poland, and by the EU itself.

    Meanwhile, the UK and France are leading efforts to assemble a coalition of the willing to help Ukraine. Representatives of the 30-member group gathered in London on March 15 for further talks.

    Afterwards, the UK prime minister, Keir Starmer, released a statement saying that Ukraine’s western partners “will keep increasing the pressure on Russia, keep the military aid flowing to Ukraine and keep tightening the restrictions on Russia’s economy”.

    Undoubtedly, these measures would be more effective if they had Washington’s full buy-in – but they send a strong signal to both the Kremlin and the White House that Ukraine is not alone in its fight against Russia’s continuing aggression.

    Putin’s options

    Putin, meanwhile, may have time on his side in the short term – but he should take note of this. Russian manpower and firepower may dwarf that of Ukraine, but it would be no match for a Ukraine backed by such a coalition of the willing.

    Putin’s apparent plan to drag Trump into the minutiae of negotiating a comprehensive deal may eventually backfire in more ways than one. For a start, really detailed discussions will test the US president’s notoriously short attention span.

    But this will also buy time for Ukraine and its supporters to strengthen Kyiv’s position in future negotiations. And it will continue to strain – but not immediately break – Russia’s economy.

    For now, Trump’s efforts to end the war in Ukraine have stalled. He is attempting to broker a complex ceasefire deal that involves separate agreements with Kyiv and Moscow, pressure on Nato allies, and an attempt to drive a wedge between Russia and China. It’s not clear how this will succeed or indeed where it will end.

    The only certainty is that they are not bringing a just and stable peace for Ukraine any closer.

    Stefan Wolff is a past recipient of grant funding from the Natural Environment Research Council of the UK, the United States Institute of Peace, the Economic and Social Research Council of the UK, the British Academy, the NATO Science for Peace Programme, the EU Framework Programmes 6 and 7 and Horizon 2020, as well as the EU’s Jean Monnet Programme. He is a Trustee and Honorary Treasurer of the Political Studies Association of the UK and a Senior Research Fellow at the Foreign Policy Centre in London.

    Tetyana Malyarenko 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. Trump’s phone call with Putin fails to deliver a full ceasefire – here’s what could happen next – https://theconversation.com/trumps-phone-call-with-putin-fails-to-deliver-a-full-ceasefire-heres-what-could-happen-next-252417

    MIL OSI – Global Reports –

    March 21, 2025
  • MIL-OSI: NANO Nuclear Energy Adds Two Additional Senior Nuclear Engineers to its Technical Team

    Source: GlobeNewswire (MIL-OSI)

    NANO Nuclear Continues to Attract Top Tier talent to Propel the Development of its Innovative Microreactor Technologies

    New York, N.Y., March 20, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced the additions of James Leybourn and Simon Boddington as Senior Nuclear Engineers. Both Mr. Leybourn and Mr. Boddington are based in the U.K. and recently joined NANO Nuclear’s U.K.-based nuclear science and engineering partner Cambridge AtomWorks, led by Professors Ian Farnan and Eugene Shwageraus.

    The additions of Mr. Leybourn and Mr. Boddington build upon the recently announced appointment of Andrew Steer, Ph.D. as NANO Nuclear’s Head of Regulatory Engagement. Their addition to the team brings extensive knowledge in molten salt reactor physics, deep understanding of nuclear safety cases, advanced reactor engineering and innovative fuel system design, all of which will be essential for the ongoing development of NANO Nuclear’s proprietary ‘ZEUS’ and ‘ODIN’ microreactors, as well as the KRONOS MMRTMEnergy System and the LOKI MMRTM.

    Mr. Leybourn is a Chartered Physicist with over 12 years’ experience of Physics and Engineering within the U.K. nuclear industry. He has a proven track record of leading diverse projects, including thermal hydraulics, engineering design and safety case preparation. Prior to joining Cambridge AtomWorks, Mr. Leybourn played a key role in leading the development of a risk-informed work program and introducing systems engineering practices, including fuel route development, at MoltexFLEX, a British nuclear energy company developing advanced small modular molten salt reactors. He is a fuel route expert, having spent much of his career supporting the fuel route of the U.K. Advanced Gas-Cooled Reactor (AGR) fleet. He also led significant projects supporting the AGR defueling programs and has provided support to the Rolls-Royce small modular reactor project.

    Mr. Boddington is a reactor physicist with over 10 years of industry experience covering pressurized water reactors as well as thermal and fast spectrum molten salt reactor designs. Much of his experience is focused on reactor physics and he has assembled, managed and technically led the physics team that designed and delivered the molten salt MolexFLEX and SSR-W reactor concepts, with a focus on maintaining economic design objectives. He has extensive experience in applying analytical and stochastic reactor physics methods to develop core designs, including validation and verification. He graduated with an MPhys from the University of Southampton in 2014, then, completed the nuclear graduate’s scheme, before joining the Core Physics Group at Rolls-Royce.

    “NANO Nuclear continues to expand its technical teams with top professionals and innovators with diverse reactor engineering expertise that we will need to propel our programs forward. These hires also reflect our commitment to becoming a global leader in advanced nuclear energy solutions,” said Professor Ian Farnan, Lead of Nuclear Fuel Cycle, Radiation and Materials of NANO Nuclear. “With expertise spanning molten salt reactor physics, fuel handling, and high-temperature thermal-hydraulics, James and Simon will significantly strengthen NANO Nuclear’s ability to develop, demonstrate, gain regulatory approval, and, eventually commercialize and deploy its next-generation microreactors.”

    Figure 1 – NANO Nuclear Energy Inc. Appoints James Leybourn and Simon Boddington as Senior Nuclear Engineers.

    “The talent we’ve attracted speaks volumes about the progress we’re making,” said Professor Eugene Shwageraus, Lead of Nuclear Reactor Engineering of NANO Nuclear. “NANO Nuclear’s success in recruiting top engineering minds with such outstanding credentials and experience from world-class companies underscores our leadership in next-generation nuclear energy development.”

    “It is essential for us to strengthen our technical capabilities as we enter the next phase of development for our portfolio of energy systems,” said James Walker, Chief Executive Officer of NANO Nuclear. “Bringing Mr. Leybourn and Mr. Boddington on board demonstrates NANO Nuclear’s ambitions of being an innovative and global leader in the industry. Their extensive experience will be invaluable, and I welcome them to NANO Nuclear.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission in collaboration with University of Illinois Urbana-Champaign, “ZEUS”, a portable solid core battery reactor, “ODIN”, a portable low-pressure coolant reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

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    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements includes those related to the anticipated benefits to NANO Nuclear of the appointment of the senior nuclear engineers, as well as the Company’s regulatory plans in general, as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

    March 21, 2025
  • MIL-OSI: Poet Ships Advanced Optical Engine Samples to Three Global Technology Customers for AI Applications

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 20, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company“) (TSX Venture: PTK; NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks, today announced it has fulfilled orders from three global customers for samples of its advanced optical transmit engines.

    The Company announced that it has shipped final design samples of its POET Infinity transmit product line for 400G and 800G applications to three major technology leaders. The products include 400G FR4, 800G 2xFR4 and 800G DR8 transmit formats, all assembled at our high volume production facility in Malaysia. The FR4 optical engines incorporate the multiplexer and can be paired with POET receiver engines for a highly integrated pluggable transceiver. POET’s customers have designed and are building pluggable transceivers using a two-chip solution, i.e., one transmit chip and one receive chip for 400G and three-chip solution for 800G. The receive optical engines have already been qualified and the availability of the transmit engine samples will allow the shipment of completed modules to end customers for qualification, with production orders expected in the second half of 2025.

    “Each of our customers has expressed intense enthusiasm for the results they have seen from POET’s integrated, chip-level solutions,” said Raju Kankipati, Chief Revenue Officer of POET. “The sampling of the transmit engines is the final piece that allows our customers to complete their modules and get them qualified. We are increasingly a vendor of record for these enterprises and that is how we know we are on the right track for wider adoption and greater commercial success,” said Kankipati.

    POET has previously worked with each customer on integrating the transmit and receive optical engines into their final module products. The demand for 400G and 800G modules remains strong. The demand for these three module types (400G FR4, 800G 2xFR4 and 800G DR8) is forecasted by LightCounting, a market research firm, to be about 20 million units per year for next 5 years.

    Dr. Suresh Venkatesan, POET’s Chairman & CEO added: “POET’s advantages of cost, reliability and power efficiency have gained the trust of industry leaders who look to our optical interposer-based product portfolio for solutions that can power AI development and improve optical networking.”

    IR Consultant Engagement
    The Company also announced that it is increasing its commitment to a broad-based investor relations program with a one-month trial engagement with IR Agency, LLC. During this period, IR Agency will assist POET in communicating information about the Company to relevant stakeholders and financial audiences. IR Agency will receive compensation of US$250,000 for the services rendered through the contract term.

    About POET Technologies Inc.
    POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.


    Forward-Looking Statements

    This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to the success of the Company’s product development efforts, the performance of its products, operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products and expectations regarding its successful development of high speed transceiver solutions and its penetration of the Artificial Intelligence hardware markets.

    Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, the completion of its development efforts with its customers, the ability to build working prototypes to the customer’s specifications, the performance of the samples provided to customers, and the size, future growth and needs of Artificial Intelligence network suppliers. Actual results could differ materially due to a number of factors, including, without limitation, the failure of the samples to meet industry specs, the failure to produce optical engines on time and within budget, the failure of Artificial Intelligence networks to continue to grow as expected, the failure of the Company’s products to meet performance requirements for AI and datacom networks, operational risks in the completion of the Company’s projects, the ability of the Company to generate sales for its products, and the ability of its customers to deploy systems that incorporate the Company’s products. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
    120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075

    The MIL Network –

    March 21, 2025
  • MIL-OSI United Kingdom: UN Human Rights Council 58: UK Statement for the General Debate Under Agenda Item 4

    Source: United Kingdom – Executive Government & Departments

    Speech

    UN Human Rights Council 58: UK Statement for the General Debate Under Agenda Item 4

    UK Statement for the General Debate Under Agenda Item 4. Delivered by the UK’s Permanent Representative to the WTO and UN, Simon Manley.

    Thank you, Mr Vice President,

    Just yesterday, we heard in this hall the Commission of Inquiry on Ukraine conclude, for the first time, that enforced disappearances committed by Russia amount to a crime against humanity. And that Russian authorities arbitrarily detain civilians, torture and execute prisoners of war and civilians, steal and indoctrinate Ukrainian children. There must be accountability and a just and lasting peace that ensures Ukraine’s sovereignty and security.

    China continues to persecute and arbitrarily detain Uyghurs, Tibetans, activists, lawyers and journalists like Sophia Huang. In Hong Kong, the sentencing of 45 activists and former politicians under the Beijing-imposed National Security Law, and the ongoing prosecution of Jimmy Lai, underline how rights continue to be eroded. Once again, we call for their release. 

    In Iran, women, girls and minorities face sustained repression. Freedom of expression is curtailed, journalists silenced. Executions have reached appalling levels. 

    Finally, we urge all parties to return to the Gaza ceasefire talks. All hostages must be released. Aid must restart. The recent civilian casualties are appalling. Our thoughts are also with the victims and families of those killed and injured in the UN compound yesterday. The Israeli and Palestinian people deserve a peaceful and secure future based on a two-state solution.

    Updates to this page

    Published 20 March 2025

    MIL OSI United Kingdom –

    March 21, 2025
  • MIL-OSI Asia-Pac: HK ranks 3rd as global finance hub

    Source: Hong Kong Information Services

    Hong Kong has maintained third place globally and continued to rank first in the Asia-Pacific in the Global Financial Centres Index 37 Report published today by the UK’s Z/Yen and the China Development Institute.

    Hong Kong’s overall rating in the report increased 11 points to 760, slightly closing the gap with the first place rating.

    The city’s rankings in human capital, infrastructure, and financial sector development rose to second in the world, while rankings in business environment, and reputational and general rose to third globally.

    Hong Kong also ranked among the top in various financial industry sectors, ranking first globally in investment management, insurance, and finance, and third in banking.

    In the report’s assessment of financial centres’ fintech offering, Hong Kong’s ranking leapt further by five places to fourth in the world.

    The Government said the report fully recognises Hong Kong’s leading status and strengths as an international financial centre, noting that with the country’s staunch support, it will leverage the advantages under “one country, two systems”, actively integrate into the national development and deepen international co-operation to fulfil its roles as a “super connector” and “super value-adder”.

    With finance as an important tool to support the real economy, the Government added that the policy initiatives announced in the 2025-26 Budget press ahead with the high-quality development of Hong Kong’s international financial market to create more new growth areas.

    MIL OSI Asia Pacific News –

    March 21, 2025
  • MIL-OSI: Orezone Gold Reports Record Revenue and Net Income for 2024

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 20, 2025 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone” or “Company”) is pleased to report its operational and financial results for the fourth quarter and full year ended December 31, 2024, and its 2025 guidance.   All dollar amounts are in USD unless otherwise indicated and abbreviation “M” means million.

    Highlights

    • Q4-2024 gold production of 36,502 oz, a 37% increase from the previous quarter.  
    • 2024 gold production of 118,746 oz, exceeding the mid-point of guidance.
    • AISC per oz sold of $1,273 for Q4-2024 and $1,447 for 2024.
    • Record revenue of $283.5M from the sale of 118,697 gold oz at an average realized price of $2,384 per oz in 2024. Gold sales remain unhedged to rising gold prices.
    • 2024 Adjusted EBITDA of $117.2M, Net Income attributable to Orezone shareholders of $55.7M and Earnings per Share attributable to Orezone shareholders of $0.14 and $0.13 on a basic and diluted basis, respectively.
    • Liquidity of $103.2M at year-end with cash of $74.0M and undrawn debt of $29.2M available to finance 2025 growth plans.
    • Stage 1 of hard rock expansion progress continues with first gold on track for Q4-2025.
    • Advancing work towards a secondary listing on the Australian Securities Exchange in mid-2025.

    Patrick Downey, President and CEO, commented “Strong Q4-2024 gold production of 36,502 oz helped deliver another record year for revenue of $283.5 million and net income of $64.1 million while meeting annual production guidance for a second consecutive year. Importantly, Orezone commenced construction of its hard rock expansion in the second half of 2024, a main step towards sustained production growth and setting the foundation for a transformational 2025 where we expect to pour first gold on this brownfield expansion in Q4-2025. First stage of the hard rock expansion is expected to increase the Company’s annual gold production to 170,000 – 185,000 oz in 2026.

    With continued strong gold prices and the closing of recent financings, the Company is well-placed to make further strategic investments in its Bomboré Mine by undertaking additional discovery-focused exploration on high potential targets and evaluating an accelerated start to the second stage of the hard rock expansion which would further increase annual gold production to 220,000 – 250,000 oz.

    The accomplishments achieved in 2024 is a testament to the strength of our team underpinned by the support of our community and government partners, and new and existing shareholders. We remain steadfast in our goal of creating lasting value for all stakeholders.”

    Highlights for Fourth Quarter and Year Ended December 31, 2024 and Significant Subsequent Events

    (All mine site figures on a 100% basis)   Q4-2024 Q4-2023 FY2024 FY2023
    Operating Performance          
    Gold production oz 36,502 33,916 118,746 141,425
    Gold sales oz 34,833 33,782 118,697 139,696
    Average realized gold price $/oz 2,632 1,986 2,384 1,940
    Cash costs per gold ounce sold1 $/oz 1,077 1,083 1,233 972
    All-in sustaining costs1 (“AISC”) per gold ounce sold $/oz 1,273 1,246 1,447 1,127
    Financial Performance          
    Revenue $000s 91,837 67,580 283,517 271,491
    Earnings from mine operations $000s 45,321 16,108 117,710 97,150
    Net income attributable to shareholders of Orezone1 $000s 30,091 4,012 55,711 43,146
    Net income per common share attributable to shareholders of Orezone          
    Basic $ 0.06 0.01 0.14 0.12
    Diluted $ 0.06 0.01 0.13 0.12
    EBITDA1 $000s 48,139 15,308 128,307 108,418
    Adjusted EBITDA1 $000s 45,058 26,702 117,233 120,036
    Adjusted earnings attributable to shareholders of Orezone1 $000s 27,550 14,267 45,977 53,665
    Adjusted earnings per share attributable to shareholders of Orezone1 $ 0.06 0.04 0.11 0.15
    Cash and Cash Flow Data          
    Operating cash flow before changes in working capital $000s 52,520 28,167 98,444 123,029
    Operating cash flow $000s 28,020 13,891 57,697 79,950
    Free cash flow1 $000s 12,543 682 11,725 36,172
    Cash, end of period $000s 74,021 19,483 74,021 19,483

    1 Cash costs, AISC, EBITDA, Adjusted EBITDA, Adjusted earnings, Adjusted earnings per share, and Free cash flow are non-IFRS measures. See “Non-IFRS Measures” section below for additional information.

    Full Year 2024 Highlights

    • Outstanding Safety Performance: 5.4M hours worked without a lost-time injury and a low total recordable injury frequency rate of 0.75.
    • Strong Liquidity: Available liquidity of $103.2M at year-end with $74.0M in cash and XOF 17.5 billion ($29.2M) available to be drawn on the Phase II debt facility with Coris Bank International (“Coris Bank”). The Company is well-funded to carry out its 2025 growth plans including the completion of stage 1 of the Phase II hard rock expansion and a minimum 20,000 m diamond drilling exploration program.    
    • Gold Production Guidance Achieved: Gold production of 118,746 oz which exceeded the mid-point of guidance, marking the second consecutive year that the Bomboré Mine has met production guidance since the start up of operations.
    • AISC Per Oz Within Updated Guidance: AISC per oz of $1,447 was within the updated guidance range with operating costs impacted by higher-than-anticipated government royalties and power costs. Relative to original guidance, government royalties were $31 per oz higher due to a better realized gold price and power costs were $57 per oz higher from lower-than-normal grid availability due to regional power issues in the H1-2024. These two cost overrun contributors were both out of the Company’s control and if their cost impacts were removed, original AISC guidance of $1,300 per oz to $1,375 per oz would have been met.
    • Record Annual Revenue: Revenue of $283.5M from the sale of 118,697 gold oz at a realized gold price of $2,384 per oz. The Company’s gold sales remain unhedged to rising gold prices.
    • Record EBITDA, Net Income, and Earnings Per Share: Reported record EBITDA of $128.3M and net income attributable to Orezone shareholders of $55.7M, primarily driven by a 23% increase in the realized gold price from the prior year. Net income per share attributable to Orezone shareholders was a record $0.14 per share on a basic basis and $0.13 per share on a diluted basis.
    • Continued Free Cash Flow Generation: Generated free cash flow of $11.7M with cash flow from operating activities totalling $98.4M after deducting taxes paid of $26.2M but before changes in non-cash working capital. Non-cash working capital increased by $40.7M primarily from the build-up of VAT receivables and long-term ore stockpiles. Cash flow used in investing activities totalled $46.0M as capital expenditures remained elevated as the Company executes on its growth initiatives including the Phase II hard rock expansion.
    • Phase II Hard Rock Expansion on Track for First Gold in 2025: The Company’s Board approved a positive construction decision on stage 1 of the Phase II hard rock expansion on July 10, 2024 after the Company had secured $105M in binding debt and equity commitments described below for the construction. Under stage 1, a 2.5M tonnes per annum (“tpa”) process plant will be built to recover gold from hard rock mineral reserves which is expected to increase future production levels by 50% to over 170,000 oz per annum. First gold for stage 1 of the Phase II expansion remains on track for Q4-2025 with commercial production expected shortly thereafter in early 2026.
    • Phase I Debt Reduced, Bridge Loan Repaid, and Phase II Expansion Financing Secured: Principal repayments totalling XOF 24.0 billion ($39.3M) were made on the Company’s senior borrowings with Coris Bank, including the extinguishment of the XOF 12.0 billion ($19.8M) bridge loan. On August 8, 2024, the Company completed a non-brokered private placement for net proceeds of C$64.8M ($47.3M) with a new cornerstone investor, Nioko Resources Corporation (“Nioko”), a leading West African investment group. On December 19, 2024, the Company successfully upsized its senior debt facility with Coris Bank through a new term loan for XOF 35.0 billion ($58.3M) (“Phase II Term Loan”) to be drawn in multiple tranches as construction progresses. The Company made its first drawdown of XOF 17.5 billion ($27.9M) on the Phase II Term Loan in December 2024.
    • Multi-year Exploration Drill Program Initiated: In August 2024, the Company initiated a multi-year discovery focused drill program with an initial 30,000 m of drilling designed to test the broader size and scale of the Bomboré mineralized system. Initial results from drilling at the North Zone intercepted mineralization 240 m below the current reserve pit limit, including 1.67 g/t gold over 46.00 m, demonstrating the continuity and robustness of the mineralized system at depth, both in terms of grade and overall width (see October 10, 2024 news release).

    Q4-2024 Highlights

    • Gold Production: Quarterly gold production of 36,502 oz increased 37% from Q3-2024 as a result of record plant throughput and improved head grades. Mining extended to Siga East and Siga South pits for a full quarter which contributed a greater blend of soft oxide ore at higher grades to the mill feed.
    • AISC Per Oz: AISC per oz sold was $1,273 per oz, a 23% decrease from Q3-2024, driven mainly by improved gold production as a result of higher grades and better plant throughput.
    • EBITDA, Net Income, and Earnings Per Share: Reported EBITDA of $48.1M and net income attributable to Orezone shareholders of $30.1M. Net income per share attributable to Orezone shareholders was $0.06 per share on both a basic and diluted basis.
    • Free Cash Flow: Generated free cash flow of $12.5M with cash flow from operating activities totalling $52.5M after deducting taxes paid of $6.3M but before changes in non-cash working capital. Cash flow used in investing activities totalled $15.5M as expenditures for the Phase II hard rock expansion began to ramp up.

    Events Subsequent to 2024 Year-End

    • Bought Deal Offering: On March 13, 2025, the Company closed on a public offering of common shares on a bought deal basis with Canaccord Genuity Corp. (“Canaccord”) pursuant to which the Company agreed to sell 42,683,000 common shares at a price of C$0.82 per share for aggregate gross proceeds of C$35,000,060. Net proceeds from the offering will be used to conduct early works for stage 2 of the Phase II hard rock expansion and for additional exploration. Under stage 2, processing capacity of the hard rock plant will double from the 2.5Mtpa design in stage 1 to 5.0Mtpa after completion of stage 2.
    • Over-allotment Exercise: Canaccord has exercised its over-allotment in full on the bought deal offering and has agreed to purchase an additional 6,402,450 common shares at a price of C$0.82 per share for aggregate gross proceeds of C$5,250,009. The purchase of shares from the over-allotment closed on March 19, 2025.
    • Private Placement with Nioko: The Company has announced that Nioko intends to acquire, on a non-brokered private placement basis, for 10,719,659 additional common shares at a price of C$0.82 per share for aggregate gross proceeds of C$8,790,121 to maintain its 19.9% share ownership (before the over-allotment exercise). Closing of this private placement is subject to approval of the TSX and is anticipated to occur in late March 2025.
    • Intention to List on the Australian Securities Exchange (“ASX”): The Company intends to pursue a secondary listing on the ASX by mid-2025, subject to market conditions and the satisfaction of ASX listing requirements as announced in its February 23, 2025 press release. The Company believes a dual listing on the ASX will increase trading liquidity and allow it to access a deeper pool of investors, including specialist mining focused funds.

    2024 Performance and 2025 Guidance

    2024 Performance Compared Against Guidance

    Bomboré Mine (100% basis) Unit Original
    FY2024 Guidance
    Revised
    FY2024 Guidance4
    FY2024
    Actuals
    Gold production Au oz 110,000 – 125,000 Unchanged  118,746
    All-In Sustaining Costs123 $/oz Au sold $1,300 – $1,375 $1,400 – $1,475 $1,447
    Sustaining capital12 $M $14 – $15 Unchanged $16.0
    Growth capital – non Phase II Expansion12 $M $16 – $17 Unchanged $17.6
    Growth capital – Phase II Expansion early works12 $M No guidance provided $3.6 $3.6
    Growth capital – Phase II Expansion12 $M No guidance provided $15.0 – $18.0 $15.3
    1. Non-IFRS measures. See “Non-IFRS Measures” section below for additional information.
    2. Foreign exchange rates used to forecast cost metrics include XOF/USD of 600 and CAD/USD of 1.30.
    3. Government royalties of $160/oz included in original AISC guidance based on an assumed gold price of $2,000 per oz. Government royalties of $200/oz were estimated in the revised AISC guidance from a better gold price realized.
    4. Revised guidance details presented in Q3-2024 MD&A.

    2025 Guidance

    Bomboré Mine (100% basis) Unit FY2025 Guidance
    Gold production Au oz 115,000 – 130,000
    All-In Sustaining Costs123 $/oz Au sold $1,400 – $1,500
    Sustaining capital12 $M $9 – $10
    Growth capital (excluding Phase II Expansion)12 $M $44 – $51
    Growth capital – Stage 1 of Phase II Expansion12 $M $75 – $80
    1. Non-IFRS measure. See “Non-IFRS Measures” section below for additional information.
    2. Foreign exchange rates used to forecast cost metrics include XOF/USD of 600 and CAD/USD of 1.35.
    3. Government royalties included in AISC guidance based on an assumed gold price of $2,600 per oz.

    Gold production in 2025 is forecasted to range between 115,000 to 130,000 oz, with the highest production expected in the fourth quarter from the scheduled start-up of the Phase II hard rock plant. Projected gold production from hard rock reserves is between 5,000 to 10,000 oz with actual production dependent on the timing and ramp-up of the new hard rock circuit. Gold production from the existing Phase I oxide plant is guided between 110,000 to 120,000 oz, similar to that achieved in 2024.

    Mining will be concentrated within three main pits delivering most of the direct feed ore with the H pit in the North Zone, and the Siga East and Siga South pits in the South Zone. The 2025 mine plan calls for 22.4M tonnes to be mined by the mining contractor at a strip ratio of approximately 1.8.   The mining contractor placed new excavators, dump trucks, and support equipment into service in November 2024 and is organizing to mobilize additional equipment to site later this year in preparation for the start-up of hard rock mining.

    AISC in 2025 is expected to range between $1,400 to $1,500 per oz sold. AISC per oz is expected to be comparable to 2024 with a small decrease in head grades, an increased strip ratio, and greater government royalties from a higher assumed gold price offset by lower sustaining capital, higher grid utilization, and higher plant throughput from fewer power interruptions and enhanced maintenance practices.

    Sustaining capital is budgeted to fall within the range of $9M to $10M with expenditures directed towards the completion of tailings storage facility (“TSF”) stage 4 lift, extension of the main haul road and perimeter fencing at the southern end of the mining permit, and other capital improvements to the process plant, camp, and mine support equipment and facilities.

    Growth capital is expected to range between $119M to $131M on four major growth projects:

    No. Growth Capital Description Unit FY2025 Guidance
    I. Phase II Hard Rock Expansion – Stage 1 $M $75 – $80
    II. Permanent Back-up Diesel Power Plant $M $22 – $24
    III. TSF Footprint Expansion – Cell 2 $M $11 – $13
    IV. Resettlement Action Plan (“RAP”) $M $11 – $14
      Growth Capital Total $M $119 – $131
           
      Phase II Hard Rock Expansion – Stage 2 $M No guidance provided

    The Company has reserved guidance on 2025 expenditures for stage 2 of the Phase II hard rock expansion until the Company’s Board of Directors has issued a final investment decision to proceed with stage 2 expected later this year. Stage 2 would increase annual gold production to 220,000 – 250,000 oz.  

    I.      Phase II Hard Rock Expansion – Stage 1

    A new 2.5Mtpa hard rock plant to process fresh and lower transition ore is currently under construction and once completed, will operate in tandem with the existing Phase I oxide plant. The current flowsheet for stage 1 of this brownfield expansion consists of a primary jaw crusher, an 18-hour crushed ore stockpile, a single stage 9MW SAG mill, hydrocyclones, and a carbon-in-leach (“CIL”) circuit consisting of five 15.8 m diameter leach tanks. Loaded carbon will be treated in the shared gold recovery circuit, producing gold doré bars from the existing gold room. Tailings from the CIL circuit will be pumped into the expanded tailings facility.

    The Company completed a comprehensive review of the construction progress and costing as part of its annual budgeting exercise for 2025. From this review, schedule to first gold remains in Q4-2025 with a project budget of $90M – $95M with $75M – $80M forecasted in 2025.

    II.      Permanent Back-Up Diesel Power Plant

    A new diesel power plant will be installed to provide continuous power to both the Phase I oxide plant and Phase II hard rock plant when the national grid is unavailable or unable to provide stable power.

    Following a competitive tender, the Company awarded the engineering, supply, installation, and commissioning of this new power plant to Africa Power Services (“APS”). APS will supply 18 Caterpillar diesel gensets with 1.8MW rated capacity each that will function as back-up units to the grid to meet the 18MW to 20MW load demand of both processing circuits. This new power plant is scheduled for final commissioning in October 2025 and will replace the APS genset rentals that are currently providing power on a back-up basis.

    III.      TSF Footprint Expansion – Cell 2

    The TSF starter dam over the Cell 1 footprint was completed prior to the start of processing operations in 2022. Lifts of the Cell 1 embankment walls have been completed each year to add storage to hold the volume of tailings expected to be generated by the mine for the upcoming year. The stage 4 lift is currently in progress and is slated for completion in June 2025 with costs captured under sustaining capital.

    To optimize costs of future tailings lifts and to meet the higher annual storage requirements from the Phase II hard rock expansion, work to expand the TSF footprint southwards into Cell 2 will begin in 2025 and continue into 2026, and include the HDPE lining of the Cell 2 basin and installation of underdrainage to improve water recovery and dam stability. Cell 2 will cover the ultimate TSF footprint and is designed to ensure that future annual lifts will provide sufficient storage of tailings generated each year by the combined oxide and expanded stage 2 (5Mtpa) hard rock operations.

    IV.      Resettlement Action Plan – Phases II, III, and IV

    RAP Phases II and III commenced in 2023 and will see the construction of three new resettlement communities (MV3, MV2, and BV2) to help relocate households occupying areas within the southern half of the Bomboré mining permit. Both MV3 and MV2 were successfully completed in 2024 followed by the start of BV2 construction in late 2024.

    RAP Phase IV was presented as part of the Environment Social Impact Assessment (“ESIA”) submitted by the Company in 2024 to expand the current mining permit by an additional 5.56 km2.

    Construction costs of $8.0M to $10.0M are forecasted in 2025 to complete the remaining construction of BV2 by October 2025 and for the anticipated start of RAP Phase IV construction in Q4-2025. RAP costs of $3.0M to $4.0M are estimated for compensation, consultants, relocation allowances, and livelihood restoration programs.

    Revenue Protection Program for 2025

    The Company has implemented a low-cost revenue protection program for approximately half of its forecasted gold production in 2025 by purchasing 60,000 oz of put options with a strike price of $2,300 per oz at a cost of $0.8M. These options were acquired in November 2024 from a leading Canadian chartered bank and are structured as a monthly program of 5,000 oz options with option expiries at each month-end.

    The purchase of put options allows the Company to secure margin on its gold sales should gold prices fall significantly while retaining full upside to rising gold prices. The Company invested in these put options due to the large capital programs planned for 2025.

    Bomboré Gold Mine, Burkina Faso (100% Basis)

    Operating Highlights   Q4-2024   Q4-2023   FY2024 FY2023  
    Safety          
    Lost-time injuries frequency rate per 1M hrs 0.00   0.00   0.00 0.00  
    Personnel-hours worked 000s hours 1,326   1,301   5,366 4,394  
    Mining Physicals          
    Ore tonnes mined tonnes 2,063,262   2,883,006   7,889,973 9,247,175  
    Waste tonnes mined tonnes 2,655,783   3,048,669   11,921,398 11,237,079  
    Total tonnes mined tonnes 4,719,045   5,931,675   19,811,370 20,484,254  
    Strip ratio waste:ore 1.29   1.06   1.51 1.22  
    Processing Physicals          
    Ore tonnes milled tonnes 1,652,844   1,449,769   5,928,599 5,749,163  
    Head grade milled Au g/t 0.77   0.82   0.71 0.85  
    Recovery rate % 89.1   88.9   88.2 90.4  
    Gold produced Au oz 36,502   33,916   118,746 141,425  
    Unit Cash Cost          
    Mining cost per tonne $/tonne 3.50   3.05   3.49 3.01  
    Mining cost per ore tonne processed $/tonne 7.37   6.31   8.44 6.77  
    Processing cost $/tonne 7.00   10.84   8.27 10.14  
    Site general and admin (“G&A”) cost $/tonne 4.07   4.85   3.90 3.95  
    Cash cost per ore1tonne processed $/tonne 18.44   22.00   20.61 20.86  
    Cash Costs and AISC Details          
    Mining cost (net of stockpile movements) $000s 12,174   9,146   50,008 38,932  
    Processing cost $000s 11,563   15,719   49,049 58,285  
    Site G&A cost $000s 6,719   7,036   23,124 22,707  
    Refining and transport cost $000s 193   141   497 519  
    Government royalty cost $000s 7,512   5,163   22,739 17,508  
    Gold inventory movements $000s (647 ) (606 ) 892 (2,190 )
    Cash costs on a sales basis $000s 37,514   36,599   146,309 135,761  
    Sustaining capital $000s 4,245   3,558   15,997 14,002  
    Sustaining leases $000s 73   73   292 301  
    Corporate G&A cost $000s 2,511   1,874   9,154 7,325  
    All-In Sustaining Costs1on a sales basis $000s 44,343   42,104   171,752 157,389  
    Gold sold Au oz 34,833   33,782   118,697 139,696  
    Cash costs per gold ounce sold1 $/oz 1,077   1,083   1,233 972  
    All-In Sustaining Costs per gold ounce sold1 $/oz 1,273   1,246   1,447 1,127  

    1 Non-IFRS measure. See “Non-IFRS Measures” section below for additional details.

    Bomboré Production Results

    Q4-2024 vs Q4-2023

    Gold production in Q4-2024 was 36,502 oz, an increase of 8% from the 33,916 oz produced in Q4-2023. The higher gold production is attributable to a 14% increase in plant throughput offset by a 6% decrease in head grades.

    The better head grades in Q4-2023 were from the sequencing of higher-grade pits in earlier periods of the mine plan and greater ore release from more tonnes mined allowing for the stockpiling of lower-grade ore. More tonnes were mined in Q4-2023 as a second mining contractor was utilized to assist with mining volumes.

    Plant throughput of 1.65M tonnes in Q4-2024 hit a new quarterly record as processing operations benefitted from higher hourly throughput, greater blend of soft oxide ore, and less maintenance. Improvements to hourly plant throughput were successfully instituted in July 2024 by increasing the mill power and reducing residence time in the CIL circuit with only a minor effect to recovery rates. Mining at the new Siga East and Siga South pits for a full quarter in Q4-2024 resulted in the release of more tonnes of softer oxide ore while completion of all scheduled major plant maintenance in earlier quarters of the year combined with high grid availability resulted in less plant downtime.

    2024 vs 2023

    Gold production in 2024 was 118,746 oz, a decline of 16% from the 141,425 oz produced in 2023. The lower gold production is attributable to a 16% decrease in head grades and a 2% decrease in plant recoveries, partially offset by a 3% increase in plant throughput.

    Head grades in 2023 were higher from the sequencing of higher-grade pits in earlier periods of the mine plan and the processing of high-grade stockpiles accumulated during the Phase I construction, with such stockpiles being fully depleted by June 2023.

    Plant recoveries were lower in 2024 as a direct result of lower head grades, a greater blend of transition ore, and less residence in the CIL circuit.

    Plant throughput was higher in 2024 from the operating procedures followed in the H2-2024 to maximize hourly plant throughput.

    Bomboré Operating Costs

    Q4-2024 vs Q4-2023

    AISC per gold oz sold in Q4-2024 was $1,273, a 2% increase from $1,246 per oz sold in Q4-2023. The higher AISC is the result of: (a) lower head grades; (b) greater per oz royalty costs from a 33% increase in the realized gold price ($2,632/oz vs $1,986/oz) coupled with higher royalty rates that took effect in October 2023; and (c) increased mining costs attributable to deeper pits, drill-and-blast associated with harder transition ore, and higher strip ratio. This cost increase was partially offset by a reduction in power costs from the switch to lower-cost grid power in February 2024 (92% grid utilization in Q4-2024) and from a 14% jump in plant throughput resulting in economies for fixed costs.

    Cash cost per ore tonne processed in Q4-2024 was $18.44 per tonne, a decrease of 16% from $22.00 per tonne in Q4-2023, as a result of the use of lower-cost grid power and a 14% increase in plant throughput positively impacting unit cost for processing ($7.00/tonne vs $10.84/tonne) and site G&A ($4.07/tonne vs $4.85/tonne), partially offset by a 17% increase in mining costs per ore tonne processed ($7.37/tonne vs $6.31/tonne) attributable to higher strip ratio and unit mining cost.

    Mining cost per tonne has increased in Q4-2024 when compared to Q4-2023 ($3.50/tonne vs $3.05/tonne) as lower benches in the pits in the Northern Zone are mined resulting in longer hauls and more transition material that requires some drill-and-blast prior to excavation and greater rehandle prior to feeding into the dump pocket on the ROM pad combined with more grade control drilling for the new Siga pits.

    Processing costs per ore tonne decreased in Q4-2024 when compared to Q4-2023 ($7.00/tonne vs $10.84/tonne) mainly from the continuing cost benefit of utilizing grid power which has lowered power cost from $5.57/tonne in Q4-2023 to $2.39/tonne in Q4-2024, a drop of $3.18/tonne. Grid performance remained reliable and steady in Q4-2024 with 92% utilization, consistent with utilization in Q3-2024, and a significant improvement from Q2-2024 when grid utilization was 34% as issues with the supply system in Ghana and Côte D’Ivoire temporarily reduced power export into Burkina Faso.

    2024 vs 2023

    AISC per gold oz sold in 2024 was $1,447, a 28% increase from $1,127 per oz sold in 2023. The higher AISC is primarily the result of a 16% decline in head grades, higher government royalties from a better realized gold price and higher royalty rates, higher strip ratio and unit cost for mining, and moderate increases in sustaining capital and corporate G&A, partially offset by a reduction in processing costs from the switch to grid power as the primary power source in February 2024.

    Bomboré Growth Capital Projects

    Grid Power Connection

    The powerline to connect Bomboré to Burkina Faso’s national energy grid was successfully energized in February 2024. As of December 31, 2024, the Company has incurred costs of $19.9M, of which $0.2M was incurred in Q4-2024 and $1.6M in 2024. The Company plans to make minor upgrades to the grid connection in 2025 by installing equipment and software that will reduce the quantity of reactive power and hence, surcharges imposed by SONABEL, the state-owned electricity company of Burkina Faso.

    RAP Phases II and III

    Construction of MV3 and MV2 resettlement sites and the relocation of families to their new homes at these sites were completed in 2024. Construction on the BV2 resettlement site commenced in Q4-2024. Compensation payments to affected residents for loss of land, crops, trees, and private structures were also made in the year.

    As of December 31, 2024, the Company has incurred project-to-date costs of $26.5M for RAP Phases II and III, of which $4.3M was incurred in Q4-2024 and $16.0M in 2024.

    Phase II Hard Rock Expansion

    First gold remains on schedule and costs are trending in line with the most recent control budget. The concentrated scope of this expansion when compared to a greenfield project significantly reduces schedule and budget risks with start-up to benefit from the well-established mining, processing, and maintenance teams already on site.

    Construction of stage 1 of Phase II hard rock expansion was officially approved by the Company’s Board in early July 2024. To maintain first gold by Q4-2025, the Company undertook early work activities in H1-2024 which included front-end engineering and design, geotechnical investigations, additional office and camp accommodations, 18MW SAG mill order placement (subsequently cancelled), and bulk earthworks on the new plant layout.

    Lycopodium Minerals Canada (“Lycopodium”) was awarded the engineering and procurement contract and was chosen for their successful track record of designing and constructing numerous gold plants in West Africa, including the Company’s oxide plant that is currently in operations and exceeding nameplate design.

    Progress and milestones achieved on the expansion in 2024 include:

    • Engineering and drafting progress stood at 52% and ahead of plan. All bulk quantities, including concrete, structural steel, and platework, remain in line with budget.
    • Procurement was at 82% of total supply value with all long lead equipment ordered, including a 9MW SAG mill.
    • Early mobilization of concrete contractor with first concrete pour completed in November, three months ahead of schedule.
    • Tender of the structural, mechanical, and piping (“SMP”) contract with contract awarded shortly after year-end.

    All major site installation contracts (concrete, SMP, electrical and instrumentation, and mill installation) have been awarded to the same contractors that successfully delivered on the Phase I oxide construction.

    As of December 31, 2024, the Company has incurred $15.3M in costs for the Phase II hard rock expansion exclusive of the $3.6M spent on early work activities in 2024.

    NON-IFRS MEASURES

    The Company has included certain terms or performance measures commonly used in the mining industry that is not defined under IFRS, including “cash costs”, “AISC”, “EBITDA”, “adjusted EBITDA”, “adjusted earnings”, “adjusted earnings per share”, and “free cash flow”. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore, they may not be comparable to similar measures presented by other companies. The Company uses such measures to provide additional information and they should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For a complete description of how the Company calculates such measures and reconciliation of certain measures to IFRS terms, refer to “Non-IFRS Measures” in the Management’s Discussion and Analysis for the year ended December 31, 2024 which is incorporated by reference herein.

    CONFERENCE CALL AND WEBCAST

    The consolidated financial statements and Management’s Discussion and Analysis are available at www.orezone.com and on the Company’s profile on SEDAR+ at www.sedarplus.ca. Orezone will host a conference call and audio webcast to discuss its fourth quarter and full year 2024 results on March 20, 2025:

    Webcast
    Date:    Thursday, March 20, 2025
    Time:    8:00 am Pacific time (11:00 am Eastern time)
    Please register for the webcast here:  Orezone 2024 Year-End Results and 2025 Guidance

    Conference Call 
    Toll-free in U.S. and Canada: 1-800-715-9871
    International callers: +646-307-1963
    Event ID: 9731374

    QUALIFIED PERSONS

    The scientific and technical information in this news release was reviewed and approved by Mr. Rob Henderson, P. Eng, Vice-President of Technical Services and Mr. Dale Tweed, P. Eng., Vice-President of Engineering, both of whom are Qualified Persons as defined under NI 43-101 Standards of Disclosure for Mineral Projects.

    ABOUT OREZONE GOLD CORPORATION

    Orezone Gold Corporation (TSX: ORE OTCQX: ORZCF) is a West African gold producer engaged in mining, developing, and exploring its 90%-owned flagship Bomboré Gold Mine in Burkina Faso. The Company completed construction of its oxide only process plant in August 2022 and achieved commercial production on its oxide operations on December 1, 2022. The Company is expanding operations and gold production by constructing stage 1 of a Phase II hard rock plant that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral reserves.   Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets, and M&A.   

    The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.

    Patrick Downey
    President and Chief Executive Officer

    Kevin MacKenzie
    Vice President, Corporate Development and Investor Relations

    Tel: 1 778 945 8977
    info@orezone.com / www.orezone.com

    For further information please contact Orezone at +1 (778) 945-8977 or visit the Company’s website at www.orezone.com.

    The Toronto Stock Exchange neither approves nor disapproves the information contained in this news release.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains certain information that constitutes “forward-looking information” within the meaning of applicable Canadian Securities laws and “forward-looking statements” within the meaning of applicable U.S. securities laws (together, “forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur, and include, amongst other statements, the Phase II hard rock expansion will increase annual gold production and is expected to pour first gold in Q4-2025.

    All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, terrorist or other violent attacks, the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of project cost overruns or unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel, the spread of diseases, epidemics and pandemics diseases, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company’s most recent annual information form and management’s discussion and analysis filed on SEDAR+ on www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements.

    Forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to the Company’s ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.

    Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.

    The MIL Network –

    March 20, 2025
  • MIL-OSI Asia-Pac: Keynote speech by SCST at Hong Kong Tourism Overview 2025 (English only)

    Source: Hong Kong Government special administrative region

    Following is the keynote speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at Hong Kong Tourism Overview 2025 today (March 20): 

    Dr YK Pang (Chairman of the Hong Kong Tourism Board, Dr Pang Yiu-kai), Dr Peter Lam (Chairman-Designate of the Hong Kong Tourism Board), distinguished guests, friends from the travel industry, ladies and gentlemen,
     
    Good morning. It is with enormous pleasure and a lot of emotion that I join you all at today’s Hong Kong Tourism Board’s Tourism Overview. I was a regular attendee from 2011 to 2016, but this is my very first time joining this important event as the Secretary for Culture, Sports and Tourism. Really happy to see so many old friends of the tourism industry in the audience, and for new friends in this room, a very warm “hello” to all of you.   
     
    Strong rebound of tourism performance
     
    Tourism has been a cornerstone of Hong Kong’s economy all along. It may not be a major source of foreign investment, but travel and related sectors gallantly provide employment for some 150 000 people of our workforce. In 2024, we welcomed close to 45 million visitors, marking a more than 30 per cent increase year on year. Among them, Mainland and non-Mainland visitors exceeded 34 million and 10 million respectively, with year-on-year increases at 27 per cent and 44 per cent respectively, injecting momentum into the local economy, and showcasing the collaborative efforts of the Government and the industry. As we entered 2025, we continue to see handsome growth, and achieved in January alone the highest monthly record of 4.74 million visitor arrivals since the pandemic.
     
    And for these remarkable achievements, I would like to take the opportunity to express my heartfelt appreciation and gratitude to Dr YK Pang for leading the Hong Kong Tourism Board with dedication and passion over the past six extraordinary years, particularly through the difficult times during the pandemic. As the Chairman, you have guided the Board with exemplary leadership in successfully overcoming various challenges and then driving the recovery of Hong Kong tourism. Thank you for your invaluable contributions to the Board and to Hong Kong’s tourism development. 
     
    To sustain the momentum of the recovery, it is essential for all of us in the Government and the industry to recognise that the global tourism landscape has indeed changed substantially after the pandemic, and is continually evolving. With the advancement in digital technology and changing traveller preferences, we must embrace innovation, adapt our traditional offerings and craft new ones to maintain our competitive edge.
     
    Tourism Blueprint 2.0
     
    With this in mind, the Culture, Sports and Tourism Bureau promulgated on December 30, 2024, the Tourism Blueprint 2.0, setting out the vision and mission for the development of Hong Kong’s tourism industry for the five-year period from 2025 to 2030. 
    I am sure most of you have already read the Blueprint 2.0, maybe serval times, so I am not going to bore you with the details yet again. But I think it is useful for me to elaborate the three key messages, which form the bases of the Blueprint 2.0, to you in person, which will shape the direction of the tourism industry in the coming years.
     
    Opportunities to capitalise – Mainland’s support measures
     
    The first message is Hong Kong’s uniqueness as an international tourist city with the advantage of being backed by the motherland, the Mainland of China. This is our core strength and fundamental asset, and it is getting even more important at this day and age as we are under the cloud of geopolitical tension. It is paramount that we make the most out of the wide range of supportive measures that the Central People’s Government has so generously endowed Hong Kong, through the rolling out of the resumption and expansion of multiple-entry permits for Shenzhen residents and the gifting of two precious giant pandas “An An” and “Ke Ke”, to name just a few. These measures have injected fresh impetus into our travel, retail, catering and hospitality industries. The entire tourism industry must strategically utilise these initiatives to maximise the benefits for Hong Kong as a whole.
     
    Traditional and new tourism offerings
     
    This naturally brings me to my second message. Hong Kong boasts significant traditional tourism advantages, including world-class tourist attractions, like the Hong Kong Disneyland Resort, which will be celebrating its 20th anniversary later this year; Ocean Park, especially with “An An”, “Ke Ke” and the two cute panda cubs “家姐”,”細佬”; our diverse cuisine, from corner delis “chaa chaan teng” to Michelin-star restaurants; efficient urban management and transportation systems. One thing that we in Hong Kong take for granted and tourists from abroad may not be aware, Hong Kong is in fact one of the safest cities in the world for business and leisure travel. It is essential that we continue to fortify these traditional assets and optimise and strengthen our infrastructure. But it is also crystal clear that amidst fierce competition from nearby cities, there is no room for complacency at all, and we surely cannot just rely on our traditional tourism mode and attractions anymore. 
     
    In the Blueprint 2.0, we promote the four “+ tourism” directions, covering culture, sports, ecology and mega events, in which Hong Kong possesses world-class resources that have yet to be fully presented to global visitors. This is where you, my friends in the travel and tourism trade, must and can all work together and rack your brains to develop innovative and interesting tourism products that speak to the desire of new-generation travellers’ aspiration for in-depth exploration of Hong Kong’s rich, diversified, and unique characteristics. Island tourism, for example, is one of the areas that we are actively working on. Hong Kong’s countryside and outlying islands are our hidden gems. Within an hour, we can travel after attending a formal business meeting in the bustling city centre to our countryside and explore the amazing wonders of nature, just like I did just this past Sunday when I hiked for five hours from Shek Pik Reservoir to Tai O in Lantau in the day, and then dressed up to the nines for a wedding banquet in the evening. We should develop more island tourism and eco-tourism itineraries for our global visitors who now have an increase in preference in this area. Our stunning Victoria Harbour is also one of the most beautiful and must-go photo points among the world’s top visit places. We must make better use of our harbour and the surrounding water body by developing more innovative products like yacht tourism to attract tourists. Horse racing is another world-class tourist attraction that Hong Kong excels and has lots of potential, and I’m glad that CTS (China Travel Service) has recently signed an MOU with the Hong Kong Jockey Club to promote horse-racing tourism, and I believe more will come in this direction. And these days I cannot attend any public speaking engagement without mentioning the Kai Tak Sports Park, our new and proud landmark with a 50 000-sized stadium, with which we are now in a position to bring truly mega sports and entertainment events befitting Hong Kong’s role as an international metropolis. It is only by infusing the city with fresh energy through new tourism offerings can we enhance the ambiance of our vibrant city and attract visitors from around the globe. On this, I look forward to the support and efforts from all of you in unleashing our creativity and developing products that will captivate the hearts of visitors. 
     
    Everyone is tourism ambassador
     
    My third message, which I have been repeating at every opportunity since appointment as the Secretary for Culture, Sports and Tourism, is that everyone in the community has a role to play in the development of tourism in Hong Kong, in particular in welcoming our visitors from around the world. This is surely most important for all of us present today, who is always the first point of contact with our tourists. Positive and warm hospitality is the key to prosperous tourism development. Hospitality is not just about providing accommodation and dining services but also about offering attentive and caring services, making visitors feel like home and willing to consume, if I am honest. Therefore, we advocate the concept of “Everyone is a tourism ambassador”, and I would encourage everyone in the tourism trade, as well as members of the public, to welcome every visitor with a warm and friendly smile. Every sunny smile by a member of the public will add to the happy vibe that we could bring to our community, and will more likely bring about quality service provided by hospitality professions. We launched the Hospitality Campaign in 2024 with various government departments, the tourism and related sectors, the education sector and district representatives, encouraging the trade and the entire community to go an extra mile in promoting the spirit of hospitality. We will continue to encourage quality services to welcome every visitor. One of our development strategies in the Blueprint 2.0 is to expand and diversify our visitor source markets. These include the Muslims, silver-haired, family, study-tour, and youth visitors. In order to attract these different segments of visitors, in addition to providing attractive tourism offerings, we must understand their needs and show our respect to make them feel welcomed and valued. This is hospitality and I am confident that our tourism industry will excel in it, giving the warmest welcome to our visitors. 
     
    Conclusion
     
    My dear friends, we have come a long way recovering from the pandemic, and it is now time for us to work together to bring Hong Kong tourism to new heights. Hong Kong is a city full of energy and endless adventures. The Government, along with the tourism industry, the business sector and the community, and indeed everyone in Hong Kong, need to act together to shape Hong Kong’s attractive tourism brand vividly. I always call myself a tourism veteran, and you have my assurance that I am all ears when you have a new idea to tell me, and I shall be in action when I know that there are things that my bureau could do to facilitate your business. Equally, I hope I have your assurance that you are walking with me to rejuvenate our travel and tourism industries, and that I can count on your diligence and creativity on this journey. I also look forward to working closely once again with the new Chairman of Hong Kong Tourism Board, Dr Peter Lam, to bring Hong Kong tourism to the new and next level of excellence.
     
    Thank you very much.

    MIL OSI Asia Pacific News –

    March 20, 2025
  • MIL-OSI China: China’s installed power generation capacity up 14.5%

    Source: China State Council Information Office

    China’s cumulative installed power generation capacity reached 3.4 billion kilowatts by the end of February, marking a year-on-year increase of 14.5 percent, official data showed on Thursday.

    Solar power generation capacity amounted to 930 million kilowatts by the end of last month, surging 42.9 percent compared to the same period last year. Wind power generation capacity stood at 530 million kilowatts, rising 17.6 percent year on year, according to the National Energy Administration.

    In the first two months of 2025, China’s major power generation companies invested 75.3 billion yuan (about 10.5 billion U.S. dollars) in power generation projects, marking a year-on-year growth of 0.2 percent.

    During the same period, investments in power grid projects reached 43.6 billion yuan, up 33.5 percent year on year.

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI Europe: Press release – European Parliament Press Kit for the European Council of 20 March 2025

    Source: European Parliament

    European Parliament President Roberta Metsola will represent the European Parliament at the summit, where she will address the heads of state or government at 11.00 and hold a press conference after her speech.

    When: Press conference at around 11.45 on 20 March

    Where: European Council press room and via Parliament’s webstreaming or EbS.

    At their meeting in Brussels, the heads of state or government will focus on ways to bolster the EU’s competitiveness. They will also discuss how the EU can continue supporting Kyiv against Russia’s aggression – with Ukrainian President Volodymyr Zelenskyy, how to strengthen the EU’s defence capabilities, and the EU’s response to the situation in the Middle East. Leaders will also have a first exchange of views on the EU’s next long-term budget (multiannual financial framework – MFF) and discuss migration.

    Competitiveness

    On 12 March, MEPs adopted two resolutions outlining their priorities for the next cycle of economic and social coordination between member states.

    On economic policy coordination, MEPs focus on the need to increase public and private investment, to address the investment gap, improve competitiveness and entrepreneurship, and continue fiscal consolidation. They say the EU should pursue these objectives while ensuring social cohesion and a high standard of living. MEPs are worried about slow growth and that more turbulent economic times are on the horizon. They call on member states to reduce excessive government deficits. They also warn about rising house prices.

    In the resolution on the EU’s employment and social priorities, MEPs emphasise the importance of reducing the administrative burden for companies, whilst safeguarding labour and social standards. They believe better support for small and medium-sized enterprises can foster innovation and better-quality jobs, and that stronger social economy enterprises can promote quality employment opportunities and the circular economy. The resolution states that fiscal policies under the European Semester must ensure investments align with sustainable growth and the European Pillar of Social Rights, in particular on affordable housing, healthcare, and education.

    During the 10-13 March plenary session, MEPs held debates on three recent Commission proposals on the clean industrial deal, the action plan for affordable energy and the automotive industry action plan.

    The clean industrial deal, announced by the Commission on 26 February 2025, is about enhancing EU competitiveness and decarbonisation by addressing high energy costs and fostering global cooperation. It includes measures to boost demand for clean products, mobilise funding for clean manufacturing, secure critical raw materials, and strengthen global partnerships. It also focuses on developing skills for a low-carbon economy, creating quality jobs, cutting red tape, and improving EU policy coordination. You can watch the debate here.

    The recently proposed automotive industry action plan, announced on 5 March 2025, is intended to support the European automotive sector as it deals with high manufacturing costs, the low-carbon transition, and increased competition from China. A resolution will be put to a vote during the April plenary session. You can watch the debate here.

    The action plan for affordable energy, which addresses high energy costs experienced by EU citizens and businesses, seeks to make electricity bills more affordable by reducing network charges and taxes, promoting energy efficiency, and improving the functioning of gas markets. You can watch the debate here.

    On 10 March, MEPs reviewed the Commission’s recent proposals to cut red tape and simplify legislation for EU businesses and citizens. The Commission is proposing to ease the administrative burden for all EU businesses, in particular for small and medium-sized companies. The main focus of compliance with EU rules will shift to the EU’s largest companies – those more likely to have a disproportionate impact on the climate and environment – while all businesses will continue to have access to sustainable finance for their clean transition. Areas covered under these ‘omnibus’ proposals include sustainability reporting, due diligence rules, the carbon border adjustment mechanism (CBAM), and InvestEU. You can watch the debate here.

    Further reading

    MEPs call for a more competitive EU that respects social and labour standards

    Russia’s war of aggression against Ukraine

    In a resolution adopted on 12 March, Parliament says the EU is now Ukraine’s primary strategic ally and must help the country uphold its right to self-defence.

    Following an “apparent shift” in the US position on Russia’s war of aggression, “which has included openly blaming Ukraine for the ongoing war”, the EU and its member states are now Ukraine’s primary strategic allies and must maintain their role as its largest donor, according to MEPs. To uphold Ukraine’s right to self-defence, the EU and its member states must ramp up their much-needed assistance to the country.

    The resolution also states there can be no negotiations on European security without the presence of the EU, and MEPs welcome the launch of a ‘coalition of the willing’ for the potential Europe-led enforcement of an eventual peace agreement. MEPs are dismayed by the US administration’s appeasement of Russia and targeting of its allies.

    On 24 February 2025, the President of the European Parliament, the President of the European Council and the President of the European Commission issued a joint statement, saying “Russia and its leadership bear sole responsibility for this war and the atrocities committed against the Ukrainian population. We continue to call for accountability for all war crimes and crimes against humanity committed. We welcome the recent steps made towards the establishment of a Special Tribunal for the Crime of Aggression against Ukraine.”

    The three presidents stressed that “Ukraine is part of our European family” and that “the future of Ukraine and its citizens lies within the European Union.” They emphasised “the need to ensure the international community’s continued focus on supporting Ukraine in achieving a comprehensive, just, and lasting peace based on the Ukrainian peace formula. We stand firm with Ukraine, reaffirming that peace, security, and justice will prevail.”

    Further reading

    The EU must contribute to robust security guarantees for Ukraine

    Joint statement on the third anniversary of Russia’s invasion of Ukraine

    EP Conference of Presidents’ statement on EU support for Ukraine

    How the EU is supporting Ukraine

    EU stands with Ukraine

    European defence and security

    In a resolution adopted on 12 March, Parliament calls on the EU to act urgently and ensure its own security. This will mean, MEPs say, strengthening relationships with like-minded partners, and strongly diminishing reliance on non-EU countries.

    The EU needs “truly ground-breaking efforts” and actions “close to those of wartime”, say MEPs, also welcoming the recently tabled ReArm plan.

    To achieve peace and stability in Europe, the EU must support Ukraine and become more resilient itself, MEPs argue. The resolution states, “Europe is today facing the most profound military threat to its territorial integrity since the end of the Cold War”. It calls on member states, international partners, and NATO allies to lift all restrictions on the use of Western weapons systems delivered to Ukraine against military targets on Russian territory.

    The text says the EU must enable its administration to “move much faster through the procedures”, in the event of war or other large-scale security crises. While stressing the importance of EU-NATO cooperation, MEPs also call for the development of a fully capable European pillar in NATO that is able to act autonomously whenever necessary.

    At the special European Council meeting on 6 March, European Parliament President Roberta Metsola reassured leaders that the EP can move quickly and efficiently to meet today’s unprecedented security challenges. She called on the EU to invest more in defence: “Our ambition must match the unprecedented threat, the boldness of our proposals, and the speed at which they are put into action.” She reassured leaders that the European Parliament can adjust to demanding circumstances by moving quickly, efficiently and effectively. President Metsola highlighted that “our ambition must match the unprecedented threat, the boldness of our proposals, and the speed at which they are put into action.”

    During the 31 March to 3 April plenary session, MEPs will discuss with High Representative Kaja Kallas the EU’s common foreign, defence, and security policy objectives for 2025. MEPs are set to urge the EU to invest more in its defence sector, including an increase of military and political support for Ukraine. They are also expected to call on the EU to expand its presence in the Middle East, foster closer ties with like-minded partners, and support enlargement countries in their efforts to advance towards EU membership. The draft texts on the EU Common Foreign and Security Policy and on EU Common Security and Defence Policy will be voted on by MEPs on 2 April.

    Further reading

    MEPs urge the EU to ensure its own security

    “We cannot afford to depend on others to keep us safe”, Metsola tells EU leaders

    “Europe must be responsible for its own security”, Metsola tells EU leaders

    MEPs call on Europe to strengthen its defence capacity

    Rutte to MEPs: “We are safe now, we might not be safe in five years”

    The EU’s long-term budget and new own resources

    Parliament is working on a draft report outlining its priorities for the next long-term EU budget post-2027, also known as the Multiannual Financial Framework (MFF). The Committee on Budgets is expected to vote on this draft report at a meeting on 23-24 April, and plenary is set to vote on it during the 5-8 May plenary session.

    Parliament’s consent is needed (with an absolute majority) for the adoption of the MFF. MEPs may approve or reject the Council’s position (which is adopted by unanimity) but they may not make amendments to it. Parliament’s two co-rapporteurs, Siegfried Mureşan (EPP, Romania) and Carla Tavares (S&D, Portugal), expect MEPs to be involved from the start of the process, that during the negotiations, in its adoption, and in the implementation phase of the long-term EU budget.

    So-called EU own resources are the main sources of revenue for the EU budget. During the previous long-term budget negotiations, EU institutions agreed on a legally binding roadmap for the introduction of new sources of EU revenue. In 2023, the Commission proposed three new sources, linked to greenhouse gas emissions, company profits, and money generated by the EU’s carbon border adjustment mechanism. However, their adoption has stalled due to the reluctance of EU governments – right when new revenue streams are more important than ever, as debts accrued through the Next Generation EU (NGEU) recovery instrument will have to be repaid by 2058. The total costs for capital and interest repayments of the NGEU are projected to reach around €20-30 billion a year from 2028. The co-rapporteurs have argued that their repayment should come at the expense of existing EU policies.

    The own resources decision also requires a unanimous decision in Council, an opinion of Parliament, and ratification by every member state before it enters into force.

    Further reading

    Parliament’s draft report on the long-term EU budget

    Recording of the presentation of the draft report in the Budgets Committee (19.02.2025.)

    Recording of a press conference by the MFF co-rapporteurs (18.12.2024.)

    EPRS Briefing: Future of EU long-term financing (February 2025)

    Press release: “Own Resources”: Parliament’s position on new EU revenue

    Migration

    On 11 March, MEPs and the Commission debated changes to EU rules on the return of people who have no legal right to remain in Europe. The proposal for a new legal framework on “returns”, announced by President Ursula von der Leyen in July 2024, was formally unveiled by the European Commission on 11 March.

    During the plenary debate, MEPs scrutinised the proposal, which is intended to increase the return rate of third-country nationals not entitled to stay in the EU. Parliament emphasised the importance of cooperation with third countries, including on the readmission of their own nationals, as well innovative measures such as the establishment of return hubs in third countries. You can watch the debate here.

    Middle East

    In a resolution adopted on 12 March, Parliament urges the EU and members states to support Syria’s transitional forces and calls on Damascus to end historical alliances with Tehran and Moscow. Concerned about stability in Syria and in the Middle East, MEPs want the EU to “seize this historic opportunity to support a Syrian-led political transition in order to unite and rebuild the country”. They call on the EU and member states to help Syria’s authorities in the country’s reconstruction. MEPs also want the EU to explore the use of frozen assets of the Assad regime to fund reconstruction, rehabilitation, and the compensation of victims.

    MEPs want Syria’s new authorities in Damascus “to break free from its notorious long-standing alliances with Tehran and Moscow, which “have brought suffering to the Syrian people and destabilisation to the Middle East and beyond”. They appeal to the Syrian authorities to revoke Russia’s military presence in Syria and condemn Moscow for hosting Bashar al-Assad and his family, shielding them from justice.

    Further reading

    The EU must support the political transition and reconstruction of Syria

    MIL OSI Europe News –

    March 20, 2025
  • MIL-Evening Report: Grattan on Friday: Dutton says he could handle Donald Trump, but can any Australian PM?

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

    In the Trump age, how the next government, whether Labor or Coalition, will handle foreign affairs, defence and trade is shaping as crucially important.

    It’s a weird time when your friends become almost as problematic as your potential enemies, but that’s the situation we face.

    As many have observed, Donald Trump’s long shadow hangs over our election, at a time of multiple other uncertainties. Australia, like other countries, has already felt the brunt of the president’s tariffs policy, and the government is bracing for what may be worse to come with the next round of Trump announcements in early April.

    So what face would a Peter Dutton government present to the world? And how would he handle Trump?

    On Thursday at the Lowy Institute, the opposition leader brought his international policies together. He presented a mix of bipartisanship and differences with the government. Some of the latter weren’t so much fundamental disagreements as claims Labor had failed and the Coalition would be more competent or effective.

    The most frustrating part of Dutton’s speech and answers to questions was the same old problem. For crucial details, particularly on defence spending but also on the future of foreign aid under the Coalition, we were told we’d have to wait for announcements that always seem over the horizon.

    Dutton says as prime minister he wouldn’t resile from taking on the United States when necessary. With fears about US drug companies spearheading a war on Australia’s Pharmaceutical Benefits Scheme, he declared, “I will stand up and defend the PBS […] against any attempt to undermine its integrity, including by major pharmaceutical companies”.

    In arguing that, in general, he’d be able to deal with Trump, Dutton invoked the previous Coalition government’s success with Trump Mark 1 (though Mark 2 is very different), and the power of AUKUS to anchor relations. His early priority would be to visit Washington.

    The question Australians should ask themselves is this: “Who is better placed to manage the US relationship and engage with President Trump?” I believe that […] I will be able to work with the Trump administration Mark 2 to get better outcomes for Australia. I will talk to [Trump] about how our national interests are mutual interests.

    But, as he acknowledged, “Australia’s national interests do not always align perfectly with the interests of partners – even of our closest allies”. The way Trump is operating at the moment, it may be that a PM of either stripe will find him impossible on certain issues.

    Dutton was once an uncomplicated hawk on China. Now, he is a mix of hawkish and dovish. It’s true things have changed greatly in Australia-China relations in recent times, but another reason for Dutton’s more nuanced position is highlighted by the line in his speech that “Australia has a remarkable Chinese diaspora”. The opposition leader has an eye to the vote of Chinese-Australians.

    Dutton now walks a line that is critical of China militarily, but anxious to promote and expand the now-restored trading relationship.

    Currently, there are two major, hot conflicts in the world: the Ukraine war and the violence in the Middle East.

    On Ukraine, the Coalition and Labor are at one in their backing for President Volodymyr Zelensky, although Dutton criticises aspects of the government’s delivery of support. But they are at odds over Prime Minister Anthony Albanese’s willingness to contribute to a peacekeeping force.

    “Australia can’t afford the multibillion-dollar sustainment price tag for having troops based in an ill-defined and endless European presence,” Dutton said.

    The “multibillion-dollar” price tag was overegged, but many would agree there are sound arguments for not deploying Australian forces on such a venture. On the other hand, if an Albanese government did so, you can bet the commitment would be relatively token.

    The big gulf between Labor and Coalition is over the Middle East. This has grown from a marginally different reaction after the October 2023 Hamas attack on Israelis to a major disagreement now.

    Dutton claims Labor “has viewed our relationship with Israel through a domestic policy lens and with a view to its political imperatives” – that is, the Muslim vote.

    Based on what Dutton says, a change of government would bring a substantial recalibration of Australia’s Middle East policy. One of Dutton’s “first orders of business” would be to call Israeli Prime Minister Benjamin Netanyahu to “help rebuild the relationship Labor has trashed”. He added:

    Israel will be able to count on our support again in the United Nations. And given UNRWA [the Palestinian relief agency] has employed terrorists from Hamas who participated in the 7 October attacks, the organisation will no longer receive funding from a government I lead.

    The Coalition repeatedly says Australia needs to spend more on defence. It has announced $3 billion to reinstate the fourth squadron of F-35 joint strike fighters, but not said the size of the defence envelope it believes is required. Dutton said:

    We need to do nothing short of re-thinking defence, re-tooling the ADF, and re-energising our domestic defence industry, and that’s exactly what our government will do.

    That sounds like a massive task, and so it’s more than time we saw the plan and cost of it. Would the Coalition be willing to go to around 3% of gross domestic product (GDP) on defence spending, as the Trump administration wants? That would require a lot of sacrifice in other policy areas.

    The Australian Financial Review this week reported Coalition sources saying it is weighing up boosting defence spending to at least 2.5% by 2029.

    When the Coalition talks up its record in defence, one should also remember the failures, chief among them the delays and chopping and changing in its submarine program. A sub-optimal performance has been bipartisan.

    Dutton was questioned on his position on aid to Pacific countries. Should Australia step up given the void left by the US shutting down aid? If a Dutton government did that, would it mean an overall aid increase, or cuts in the aid budget elsewhere?

    This was left as another black hole, although he did say the Australian government should make representations to the US for the reinstatement of particular aid programs the US had cut.

    I don’t agree with some of the funding that they’ve withdrawn, and I think it is detrimental to the collective interests in the region, and I hope that there can be a discussion between our governments about a sensible pathway forward in that regard.

    Good luck with that.

    It is hard to avoid the conclusion the overall aid program would be an easy target for the Coalition in the search for savings.

    When leaders talk, what they don’t say can be as important as what they do.

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

    – ref. Grattan on Friday: Dutton says he could handle Donald Trump, but can any Australian PM? – https://theconversation.com/grattan-on-friday-dutton-says-he-could-handle-donald-trump-but-can-any-australian-pm-252511

    MIL OSI Analysis – EveningReport.nz –

    March 20, 2025
  • MIL-OSI: Aurora Mobile’s GPTBots.ai and ZANROO Forge Alliance to Ignite AI Innovation in Southeast Asia

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, March 20, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that its leading enterprise AI agent platform, GPTBots.ai, has recently entered into a strategic partnership with ZANROO MALAYSIA SDN. BHD. (“ZANROO”), a fast-growing marketing technology company in Southeast Asia. This collaboration intends to drive the adoption and application of AI solutions in the region through joint business scenario solutions, thematic campaigns, and regional joint branding efforts.

    GPTBots.ai and ZANROO are excited to embark on this strategic partnership, which promises to unlock new opportunities for AI solutions in Southeast Asia. Chris Lo, Founder and CEO of GPTBots.ai, expressed enthusiasm for the collaboration, saying, “We are thrilled to partner with ZANROO, a company with strong and rich experiences in the Southeast Asian market. This alliance will enable us to deliver exceptional AI solutions and drive digital transformation in the region.”

    Carter Lim, COO of ZANROO, also shared his perspective on the partnership, highlighting the potential for growth and innovation that this alliance brings. “This partnership with GPTBots.ai is a significant step forward for ZANROO. Together, we will leverage our combined expertise to create innovative AI solutions that address the unique needs of Southeast Asian businesses. We look forward to a fruitful collaboration that will shape the future of AI in the region,” he said.

    The partnership between GPTBots.ai and ZANROO will focus on several key areas:

    1. New AI-Driven Business Solutions: The two companies will collaborate to develop AI-powered solutions tailored to the unique needs of Southeast Asian businesses. By combining the advanced AI solutions of GPTBots.ai with ZANROO’s deep understanding of the local market, they aim to create innovative applications that boost operational efficiency and enhance customer engagement.
    2. Strategic AI Awareness Campaigns: To raise awareness and promote the adoption of AI technologies, GPTBots.ai and ZANROO will launch a series of thematic campaigns. These campaigns will showcase the latest AI advancements and their practical applications, leveraging both online and offline channels to reach a broader audience in the region.
    3. Unified Regional Brand Presence: Building a strong regional brand is a cornerstone of the partnership. By integrating their brands and collaborating closely, GPTBots.ai and ZANROO will create a unified presence in Southeast Asia. This joint branding effort will not only enhance their market visibility but also strengthen their competitive edge in the region.

    This strategic partnership marks a significant step in GPTBots.ai’s global expansion strategy. By working closely with ZANROO, GPTBots.ai will unlock new opportunities for AI solutions in Southeast Asia, ultimately contributing to the region’s digital transformation and intelligent upgrades.

    About ZANROO

    Founded in 2013, ZANROO has rapidly become one of the fastest-growing marketing technology companies in Southeast Asia. Specializing in data technology, ZANROO leverages online, offline, and real-time data to enhance human-computer interactions. The company offers a comprehensive suite of data analytics software that collects consumer data from various platforms, including social media, to help brands design and execute their marketing campaigns. By integrating and unifying data from multiple sources, ZANROO provides actionable insights that drive more effective marketing strategies.

    About GPTBots.ai

    GPTBots.ai is a complementary general-purpose LLM AI bot featuring private data input and continuous fine-tuning, which can replace ‘rule-based’ chatbots, improve user experience, and reduce costs. GPTBots.ai aims to provide users with an end-to-end business platform that can seamlessly integrate robots into existing applications and workflows via plug-ins. GPTBots.ai also allow users to have great access to, and more efficiently and effectively using, AIGC to improve overall corporate productivity and output quality.

    To know more, please visit https://www.gptbots.ai.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited 
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In U.S.
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

    March 20, 2025
  • MIL-OSI China: China issues regulations on resolving foreign-related IP disputes

    Source: China State Council Information Office 2

    Chinese Premier Li Qiang has signed a decree of the State Council, unveiling a set of regulations on resolving foreign-related intellectual property (IP) disputes.
    The regulations clarify that relevant government departments should strengthen overseas IP information inquiry and warning services, offering guidance and IP right protection assistance to individuals and organizations.
    Consisting of 18 articles, the regulations underscore the role of enterprises, calling for enterprises to enhance their awareness of the rule of law and step up efforts on building the IP talent pool. In addition, relevant government departments are required to provide training for enterprises in key areas of foreign-related IP disputes, sharing experiences and practices through typical case studies.
    The regulations specify that the service of documents, as well as investigation and evidence collection in China, should be carried out in accordance with the international treaties to which China is a party or has acceded.
    Countermeasures against unfair treatment are also emphasized. According to the regulations, if foreign entities fail to grant national treatment to Chinese citizens and organizations or fail to provide adequate and effective IP protection, the commercial departments under the State Council can conduct investigations and take necessary measures in accordance with the law.
    When foreign countries use IP disputes as a pretext to constrain or suppress China, or impose discriminatory and restrictive measures on Chinese citizens and organizations, the relevant departments of the State Council can take appropriate countermeasures and restrictive measures in response, the regulations noted.
    The administrative regulations will take effect on May 1, 2025.

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: MBTs fire at mock targets

    Source: People’s Republic of China – Ministry of National Defense

      A main battle tank (MBT) attached to a combined-arms brigade of the Chinese PLA Army kicks up plumes of dust en route to the designated training field during a live-fire shooting training exercise in early March, 2025. (eng.chinamil.com.cn/Photo by Huang Zhenyu)

    loading…

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: 2025 Zhongguancun Forum to be held in late March

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

    BEIJING, March 20 — The 2025 Zhongguancun Forum (ZGC Forum) is scheduled to be held in Beijing from March 27 to 31, focusing on cutting-edge fields from large AI models to quantum technology, an official with the Ministry of Science and Technology said Thursday.

    Lin Xin, vice minister of science and technology, made the remarks at a press conference.

    Themed “New Quality Productive Forces and Global Technology Cooperation,” this year’s annual conference of the forum comprises five major sections, including meetings and technology trading.

    It will provide new ideas and insights for global innovative development in large AI models, embodied intelligence, quantum technology, biomedicine, 6G, brain-computer interfaces, and other frontier areas in 128 events, Lin said.

    Founded in 2007, the forum, with its enduring focus on innovation and development, has evolved into a national-level open innovation platform and an international forum over the years.

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI: New Zscaler AI Security Report Reveals an Over 3,000% Surge in Enterprise Use of AI/ML Tools

    Source: GlobeNewswire (MIL-OSI)

    • ChatGPT is the most popular AI/ML application, accounting for nearly half of all AI/ML transactions (45.2%) and is also the most-blocked AI application, followed by Grammarly, and Microsoft Copilot as the second and third most-blocked applications, respectively
    • Agentic AI and open-source model DeepSeek are creating new opportunities for threat actors to weaponize AI and automate and scale their attack
    • The top five countries generating the most AI/ML transactions are the United States, India, United Kingdom, Germany, and Japan
    • The Finance & Insurance and Manufacturing industries generate the most AI/ML traffic, with 28.4% and 21.6% share of all AI/ML transactions in the Zscaler cloud, respectively, followed by Services (18.5%), Technology (10.1%), Healthcare (9.6%), and Government (4.2%)

    SAN JOSE, Calif., March 20, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, today released the ThreatLabz 2025 AI Security Report, based on insights from more than 536 billion AI transactions processed between February 2024 to December 2024 in the Zscaler Zero Trust Exchange™platform, the largest in-line security cloud, which discovered real-world threat scenarios ranging from AI-enhanced phishing to fake AI platforms. This report also explores recent developments in areas that will undoubtedly influence AI in 2025 and beyond, including agentic AI, the emergence of DeepSeek, and the evolving regulatory landscape.

    The report reveals a 3,000+% year-over-year growth in enterprise use of AI/ML tools, highlighting the rapid adoption of AI technologies across industries to unlock new levels of productivity, efficiency, and innovation. Enterprises are sending significant volumes of data to AI tools, totaling 3,624 TB, underscoring the extent to which these technologies are integrated into operations. However, this surge in adoption also brings heightened security concerns. Enterprises blocked 59.9% of all AI/ML transactions, signaling enterprise awareness around the potential risks associated with AI/ML tools, including data leakage, unauthorized access, and compliance violations. Threat actors are also increasingly leveraging AI to amplify the sophistication, speed, and impact of attacks—forcing enterprises to rethink their security strategies.

    “As AI transforms industries, it also creates new and unforeseen security challenges,” said Deepen Desai, Chief Security Officer at Zscaler. “Data is the gold for AI innovation, but it must be handled securely. The Zscaler Zero Trust Exchange platform, powered by AI with over 500 trillion daily signals, provides real-time insights into threats, data, and access patterns—ensuring organizations can harness AI’s transformative capabilities while mitigating its risks. Zero Trust Everywhere is the key to staying ahead in the rapidly evolving threat landscape as cybercriminals look to leverage AI in scaling their attacks.”

    Key Insights from the ThreatLabz 2025 AI Security Report

    ChatGPT Dominates AI/ML Transactions, But Security Concerns Remain
    ChatGPT emerged as the most widely used AI/ML application, driving 45.2% of identified global AI/ML transactions in the Zscaler Zero Trust Exchange. However, it was also the most-blocked tool due to enterprises’ growing concerns over sensitive data exposure and unsanctioned use. Other most-blocked applications include Grammarly, Microsoft Copilot, QuillBot, and Wordtune, showing broad usage patterns for AI-enhanced content creation and productivity improvements.

    “We had no visibility into ChatGPT. Zscaler was our key solution initially to help us understand who was going to it and what they were uploading.”
    —Jason Koler, CISO, Eaton Corporation | See the video case study

    DeepSeek and Agentic AI: Innovation Meets Escalating Threats
    AI is amplifying cyber risks, with usage of agentic AI and China’s open-source DeepSeek enabling threat actors to scale attacks. So far in 2025, we’ve seen DeepSeek challenge American giants like OpenAI, Anthropic, and Meta, disrupting AI development with strong performance, open access, and low costs. However, such advancements also introduce significant security risks.

    Geographies Leading AI Adoption: US and India
    The United States and India generated the highest AI/ML transaction volumes, representing the global shift toward AI-driven innovation. However, these changes aren’t occurring in a vacuum, and organizations in these and other geographies are grappling with increasing challenges like stringent compliance requirements, high implementation costs, and shortage of skilled talent.

    Finance & Insurance Lead Enterprise AI Traffic by Industry
    The Finance & Insurance sector accounted for 28.4% of all enterprise AI/ML activity, reflecting its widespread adoption, and indicative of the critical functions supported by the industry, such as fraud detection, risk modeling, and customer service automation. Manufacturing was second, accounting for 21.6% of transactions, likely driven by innovations in supply chain optimization and robotics automation. Additional sectors, including Services (18.5%), Technology (10.1%), and Healthcare (9.6%), are also increasing their reliance on AI, while each industry also faces unique security and regulatory challenges posing new risks and possibly impacting the overall rate of adoption.

    The Zscaler AI Advantage
    Built on a true zero trust architecture, Zscaler delivers Zero Trust Everywhere, securing user, workload, IoT/OT communication using business policies, not network policies. Zscaler mitigates AI-powered threats by hiding applications and IP addresses from attackers, inspecting all traffic for threats, and ensuring users access only authorized applications—never full networks. This approach minimizes the attack surface, prevents lateral movement, and stops threats before they can cause harm. Zscaler protects its users against today’s most sophisticated AI-driven threats by implementing the following:

    • Zero Trust Foundation: Minimize the external attack surface through continuous verification and least-privilege access.
    • Real-time AI Insights: Employ predictive and generative AI to deliver actionable insights that enhance security operations and digital performance.
    • Data Classification: Leverage AI-driven classification to seamlessly detect and safeguard sensitive data across Zscaler’s Data Fabric.
    • Threat Protection: Block AI-enhanced threats through continuous monitoring and response powered by the Zscaler Zero Trust Exchange.
    • App Segmentation: Restrict lateral movement and reduce the internal attack surface with AI-driven, automatic app segmentation.
    • Breach Prediction: Harness the power of Zscaler Breach Predictor that combines the power of generative AI and multi-dimensional predictive models.
    • Cyber Risk Assessments: Leverages AI-generated security reports to continuously optimize your zero trust implementation.

    Download the Full ThreatLabz 2025 AI Security Report
    Download the full version of the 2025 AI Security Report here for more information about real-world threat scenarios, AI predictions, insights into AI regulations, and AI best practices.

    Methodology
    Analysis of 536.5 billion total AI and ML transactions in the Zscaler cloud from February 2024 to December 2024. The Zscaler global security cloud processes over 500 trillion daily signals and blocks 9 billion threats and policy violations per day, delivering over 250,000 daily security updates.

    About ThreatLabz
    ThreatLabz is the security research arm of Zscaler. This world-class team is responsible for hunting new threats and ensuring that the thousands of organizations using the global Zscaler platform are always protected. In addition to malware research and behavioral analysis, team members are involved in the research and development of new prototype modules for advanced threat protection on the Zscaler platform, and regularly conduct internal security audits to ensure that Zscaler products and infrastructure meet security compliance standards. ThreatLabz regularly publishes in-depth analyses of new and emerging threats on its portal, research.zscaler.com.

    About Zscaler
    Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange™ is the world’s largest in-line cloud security platform.

    Media Contact
    Natalia Wodecki
    press@zscaler.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9c2bf5d3-5720-4db8-bf1f-a9675f48840e

    The MIL Network –

    March 20, 2025
  • MIL-OSI Submissions: GlobalData Country Risk Index shows slight drop in Q4 2024

    Source: GlobalData

    The global economy stands at a crossroads, balancing trade policy uncertainty and geopolitical tensions against easing price pressures. The latter is supporting a revival in domestic demand and providing central banks with room for potential rate cuts. Against this backdrop, GlobalData, a leading data and analytics company, reports a slight drop in the GlobalData Country Risk Index (GCRI) from 55.6 in Q3 2024 to 55.0 in Q4 2024.

    GlobalData’s latest, “Global Risk Report Quarterly Update – Q4 2024,” highlights that the Americas and the Middle East and Africa (MEA) face high risk scores due to economic instability and geopolitical conflicts. The Asia-Pacific region, while risky, has a lower score than the Americas and MEA, buoyed by strong growth in emerging economies. In contrast, Europe is the least risky region, benefiting from a solid economic recovery and improved investment sentiment.

    Annapurna Pillutla, Economic Analyst at GlobalData, comments: “Global economic growth is projected to reach 3.1% in 2024, slightly down from 3.3% in 2023, reflecting both resilience and ongoing challenges. While the US economy continues to expand steadily, China’s real estate turmoil and potential US tariff hikes present key risks. Inflation remains above central bank targets in some regions, adding to the economic uncertainty. Growth in 2025 is expected to follow a similar trajectory, constrained by geopolitical tensions and policy unpredictability.”

    The Trump administration’s proposed tariffs are likely to disrupt the global supply chains and raise business costs. By 2025, these measures could reduce production efficiency and alter trade patterns as companies face higher prices for imported goods and raw materials.

    Europe – Steady recovery amid persistent challenges

    Europe continues to be the world’s least-risk region, with its risk score improving slightly from 41.4 in Q3 2024 to 41.0 in Q4 2024. The region’s economic recovery is marked by a gradual decline in inflation, improved labor markets, and supportive policy rate cuts by the ECB. However, geopolitical tensions, particularly involving Russia and Ukraine, along with political shifts to the far right, an aging population and labor shortages, present ongoing challenges. In the Q4 2024 GCRI update, Switzerland, Denmark, and Ireland were identified as the least risky countries, while Ukraine, Turkiye, and Belarus, faced the highest risks.

    Asia-Pacific – Resilience amidst geopolitical challenges

    The Asia-Pacific region’s risk score decreased from 54.0 in Q3 2024 to 53.4 in Q4 2024, indicating ongoing economic recovery. Projected to account for more than half of global growth in 2025, the region benefits from strong domestic demand and increased exports. However, risks persist due to geopolitical tensions in the South China Sea and economic slowdown in China. China’s stimulus measures may offset some impact of US tariffs, while easing inflation and resilient consumption in other emerging economies improve the outlook. Strong growth prospects in Vietnam, the Philippines, and Indonesia further enhance regional stability.

    In the Q4 2024 GCRI update, the highest-risk countries included Pakistan, Myanmar, and Bangladesh. Conversely, the countries with the lowest risk were Singapore, Taiwan (Province of China), and Hong Kong (China SAR).

    Americas – Risk decline amid economic gains and political shifts

    Americas’ risk score decreased slightly from 57.0 in Q3 2024 to 56.6 in Q4 2024, reflecting benefits from policy rate cuts and strong consumer spending, particularly in the US. However, high US debt and fiscal challenges in Latin America persist, alongside political instability marked by protests and governance issues. Donald Trump’s return to the presidency adds to the region’s volatility, potentially affecting economic strategies and stability.

    In the Q4 2024 GCRI update, Canada, the US, and Costa Rica were the least risky, while Haiti, Venezuela, and Argentina remained the highest-risk nations.

    MEA – Persistent risks amid geopolitical tensions

    The MEA regions risk score slightly decreased from 66.3 in Q3 2024 to 65.4 in Q4 2024, driven by growth in the non-oil sector. However, ongoing geopolitical conflicts, particularly in the Middle East, and humanitarian crises continue to pose significant challenges. Africa faces rising debt and natural disasters, exacerbating food insecurity and displacement. In the Q4 2024 GCRI update, Yemen, Syria, and Burundi were among the highest-risk nations globally, highlighting the region’s persistent instability.

    Pillutla concludes: “Geopolitical tensions, trade disruptions, and market volatility present significant challenges for both policymakers and investors. To effectively manage these risks, a sophisticated approach is necessary, emphasizing adaptation and diversification.”

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis, and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology, and professional services sectors.

    MIL OSI – Submitted News –

    March 20, 2025
  • MIL-OSI Asia-Pac: FS to visit Beijing

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan will depart today for Beijing, where he will attend the China Development Forum before returning to Hong Kong on March 24.

    Mr Chan will give a speech at one of the forum’s sessions, call on relevant central ministries and institutions, and visit enterprises in the city.

    Secretary for Financial Services & the Treasury Christopher Hui and Chief Executive of the Monetary Authority Eddie Yue will join parts of the trip.

    During the absence of Mr Chan and Mr Hui, Deputy Financial Secretary Michael Wong will be Acting Financial Secretary, while Under Secretary for Financial Services & the Treasury Joseph Chan will act as Secretary.

    MIL OSI Asia Pacific News –

    March 20, 2025
  • MIL-OSI China: New measures to facilitate travel, residency for HK, Macao, Taiwan residents

    Source: China State Council Information Office 2

    China’s central government announced Thursday that two new measures aimed at facilitating travel and residency for residents of Hong Kong, Macao and Taiwan on the mainland took effect on Thursday.
    Under the new policy, Hong Kong, Macao and Taiwan residents who lose, damage, or forget to carry their travel permits can apply for a temporary electronic permit valid for seven days, allowing them to board flights and trains within mainland cities, the National Immigration Administration said.

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: Xi inspects southwest China’s Yunnan province

    Source: China State Council Information Office 2

    Xi Jinping, general secretary of the Communist Party of China Central Committee, inspected the city of Lijiang, southwest China’s Yunnan province, on Wednesday afternoon.
    He visited a modern flower industry park and the Old Town of Lijiang to learn about local efforts to develop specialized agriculture based on regional conditions, enhance the protection and utilization of historical and cultural heritage, and foster a strong sense of community for the Chinese nation.

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: Former Japan PM Kishida, predecessors in scrutiny over giving gift vouchers

    Source: China State Council Information Office

    Former Japanese Prime Minister Fumio Kishida distributed gift vouchers to lawmakers from the ruling Liberal Democratic Party (LDP) while in office, fueling speculation that gift-giving is a common practice among lawmakers in power, local media reported.

    Kishida’s staff delivered vouchers worth 100,000 yen (about 670 U.S. dollars) each to LDP lawmakers who, at the time, served as parliamentary vice ministers ahead of a meal gathering at the prime minister’s official residence on Dec. 20, 2022, Kyodo News reported Wednesday, citing LDP sources.

    Kishida’s office told Kyodo News, “We always followed the law,” without providing further details.

    The revelation comes at a time when Kishida’s successor, incumbent Prime Minister Shigeru Ishiba, has been under fire for his own distribution of vouchers worth 100,000 yen each to new LDP lawmakers.

    Ishiba reiterated Wednesday that the vouchers his office distributed ahead of a March 3 dinner meeting at the prime minister’s official residence were intended as tokens of appreciation and not meant to support political activities, denying that the move was illegal.

    Japan’s political funds control law bans donations by individuals to politicians for the purpose of political activities.

    Meanwhile, multiple LDP lawmakers and other sources said they also received vouchers worth 50,000 or 100,000 yen at meal gatherings during the tenure of former Prime Minister Shinzo Abe, who had been in office from 2012 to 2020, following a brief term from 2006 to 2007, the report said.

    The office of another former prime minister, Yoshihide Suga, Abe’s immediate successor, said that “souvenirs” were distributed, but no laws were broken.

    Opposition party lawmakers are turning up the heat on Ishiba and the LDP as those instances indicate that Japanese prime ministers have regularly distributed money and goods to LDP lawmakers.

    Leader of the main opposition Constitutional Democratic Party of Japan Yoshihiko Noda, who served as prime minister between 2011 and 2012, told reporters he had “never” given out vouchers.

    “This looks to be an issue with the LDP’s political culture. It is shaping up to be a deep-rooted structural one,” Noda told reporters. 

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: China’s e-bike trade-ins hit 2M

    Source: China State Council Information Office

    Customers apply for trade-in subsidy from the government at a cashier in Fuyang, Hangzhou, east China’s Zhejiang Province, Oct. 31, 2024. [Photo/Xinhua]

    China has seen more than 2.04 million new e-bikes sold under its consumer good trade-in program as of Tuesday, generating 5.61 billion yuan (about 783 million U.S. dollars) in new sales of such bikes, according to the Ministry of Commerce on Wednesday.

    Since the start of this year, the daily sales volume of e-bikes under this program has averaged 27,000 units — 2.5 times the figure recorded the previous year, the ministry said.

    During the period, over 2 million consumers have benefited from the program, with total subsidy applications involving over 1.2 billion yuan, averaging 610 yuan per person, the ministry added.

    The program has also benefited about 50,000 sales outlets since the start of 2025, with an average per-store sales increase of 107,000 yuan. The majority of these outlets are individual businesses and small-to-micro-sized enterprises.

    Since the launch of the program in September 2024, a total of 3.42 million new e-bikes have been sold nationwide, the ministry revealed.

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: China to issue RMB-denominated green sovereign bond in London

    Source: China State Council Information Office

    China is set to debut an RMB-denominated sovereign green bond in London, the Ministry of Finance said on Wednesday.

    The value will not exceed 6 billion yuan (833 million U.S. dollars) and specifics will be announced prior to the issuance, the ministry said.

    In February, the ministry released a framework for sovereign green bonds, paving the foundation for the country to issue offshore sovereign green bonds and global capital to invest in its green development.

    The funds raised by green bonds under the framework will be allocated to eligible green projects included in the central fiscal budget. The funds are expected to contribute to achieving environmental goals such as climate change mitigation and adaptation, natural resource protection, pollution control, and biodiversity preservation.

    This initiative aims to diversify the range of high-quality green bond products in the global market and attract international capital to support domestic green and low-carbon development.

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: US Fed keeps interest rates unchanged at 4.25-4.5 pct

    Source: China State Council Information Office

    U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on March 19, 2025. [Photo/Xinhua]

    The U.S. Federal Reserve on Wednesday left target range for the federal funds rate unchanged at 4.25 percent to 4.5 percent, amid rising inflation concerns due to the Trump administration’s tariff policies.

    “Uncertainty around the economic outlook has increased. The Committee is attentive to the risks to both sides of its dual mandate,” the Federal Open Market Committee (FOMC), the central bank’s policy-setting body, said in a statement after a two-day meeting.

    “In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent,” the statement said.

    Beginning in April, the FOMC will slow the pace of decline of its securities holdings, indicating that the Fed is choosing not to reduce its balance sheet as quickly — a measure taken during times when the economy might need more support or liquidity.

    According to the Fed’s latest quarterly summary of economic projections released Wednesday, the median projection for personal consumption expenditures (PCE) inflation among Fed officials is 2.7 percent by year-end, up from 2.5 percent in the December projection. Median projection for core PCE inflation among Fed officials is 2.8 percent by year-end, up from 2.5 percent in the December projection.

    When asked how much of the expected higher inflation is due to tariffs, Fed Chair Jerome Powell said at a press conference Wednesday afternoon, “a good part of it,” while noting that it would be “very difficult” to have a precise assessment of how much of inflation is coming from tariffs.

    “Looking ahead, the new Administration is in the process of implementing significant policy changes in four distinct areas: trade, immigration, fiscal policy, and regulation. It is the net effect of these policy changes that will matter for the economy and for the path of monetary policy,” Powell told reporters.

    “While there have been recent developments in some of these area, especially trade policy, uncertainty around the changes and their effects around the economic outlook is high,” said the Fed chief.

    The Fed’s latest summary of economic projections also showed that median projection for gross domestic product (GDP) growth in 2025 is 1.7 percent, down from 2.1 in the December projection, indicating that Fed officials now anticipate slower economic growth amid higher uncertainty.

    As the tariff turmoil escalates and the risks of inflation rise once again, economists and market participants are increasingly concerned about whether the U.S. economy will fall into a recession.

    When asked about recession risks, Powell said that a number of forecasters have raised their possibility of a recession somewhat, but “still at relatively moderate levels.”

    MIL OSI China News –

    March 20, 2025
  • MIL-OSI China: Stable China-US economic, trade relations will benefit firms worldwide

    Source: China State Council Information Office

    Stable, healthy and sustainable China-U.S. economic and trade relations align with both nations’ fundamental interests and will benefit enterprises worldwide, Vice Commerce Minister Wang Shouwen said during a meeting with the head of U.S. company PepsiCo.

    Wang, also the China international trade representative, emphasized that China-U.S. economic and trade relations are mutually beneficial and win-win in nature, during the Tuesday meeting with Ramon Laguarta, PepsiCo’s chairman and CEO.

    They exchanged views on topics such as China-U.S. economic and trade ties, as well as the firm’s business operations in China, according to the Ministry of Commerce.

    Highlighting China’s confidence in achieving its economic growth target for 2025 proposed in the government work report, Wang said that a series of policy measures introduced by the country to expand domestic demand and promote consumption will provide more opportunities for foreign-invested enterprises, including PepsiCo.

    The vice minister also elaborated on China’s stance on issues such as the U.S. unilateral tariff hikes imposed on China.

    Laguarta said that thanks to China’s pro-consumption policies, PepsiCo is reporting rapid growth in its food and beverage businesses in the country.

    Pledging increased investment in local operations and a deepening engagement in the China market, he said that PepsiCo is committed to playing a constructive role in advancing healthy and stable U.S.-China relations as a member of U.S. business circles.

    MIL OSI China News –

    March 20, 2025
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