Category: Commerce

  • MIL-OSI Banking: Michael S Barr: Opening remarks – “Fed Listens”

    Source: Bank for International Settlements

    Thank you, President Schmid, and thank you to the Federal Reserve Bank of Kansas City for hosting this event.1 The Federal Reserve, with its system of 12 distinct regional Federal Reserve Banks and the Board of Governors in Washington, D.C., was designed to ensure that monetary policy was a national decision with input from all parts of the country. The work of the District Reserve Banks, and events like this one, make sure that a wide range of views can inform President Schmid, me, Federal Reserve Chair Jerome Powell, and all of our colleagues on the Federal Open Market Committee (FOMC) as we come together in Washington to set monetary policy.

    Let me spend just a moment on the economy and the outlook. The economy is currently on a sound footing, with low and steady unemployment, and disinflation having continued at a gradual, albeit uneven, pace toward our 2 percent target. Looking forward, however, I expect inflation to rise due to tariffs. Higher short-term inflation expectations, supply chain adjustments, and second-round effects may cause some inflation persistence. At the same time, tariffs may cause the economy to slow and unemployment to rise. There is still considerable uncertainty about tariff policies and their effects. Monetary policy is well positioned to allow us to wait and see how economic conditions unfold.

    The broad objectives of monetary policy are clear and have been mandated by Congress-maximum employment and stable prices. Our strategy for getting there is laid out in the Fed’s policy framework, which we plan to update later this year. And setting that strategy to reach our goals is informed by outreach like the session today.

    Monetary policy decisions affect everyone. Stable prices are important for families and businesses to be able to plan for the future, and for sustainable and healthy labor markets. When we get it right, we can help foster broad and inclusive employment gains that benefit the American people. Our decisions play a role, for example, in the prices for agricultural commodities that are particularly important for businesses and consumers in this region. These decisions affect the labor market, including the challenges that businesses can face in finding qualified workers, which I know is a bigger issue in Nebraska, with lower unemployment than in some other places. But the Federal Reserve’s role is a limited one-most of what affects the economy are the individual decisions of households and businesses.

    The primary tool for monetary policy is short-term interest rates, which in turn can affect longer-term rates that you, your customers, and people in your communities pay to finance land and equipment and other inputs. Credit has always played a particularly important role in agriculture, so I know that interest rates matter a lot in this part of America. Let me emphasize that real-world rates are significantly affected by other forces in the economy, but Fed policy does play a role.

    Monetary policy sometimes requires tradeoffs-a stance of policy that is necessary to lower inflation, for example, may also lower aggregate demand and slow the economy. Crucial in balancing our economic goals is determining how policy decisions affect households and businesses, which is why we are here to listen to you.

    Businesses also have to balance their goals. Producers need to judge the strength of demand for their products and services, the trend in costs for their inputs, and the expected future costs for credit. These and other factors affect how businesses see tradeoffs as they make decisions about expanding operations and hiring. Workers need to balance their prospects for their wages keeping up with inflation or whether it’s worth moving to find a better job. Your experience, and the experiences of your customers and the other people you serve, is an important input into the strategy the Fed will decide on for our long-term monetary policy framework.

    We are going to consider everything we’ve learned in the past five eventful years since we last updated our framework, and we have learned a lot. But we can’t do it without you, because you are who we serve. And so, since listening requires that one stop talking, I am going to wrap up by thanking everyone from the Omaha area and across the 10th District for agreeing to be part of today’s gathering. I look forward to hearing what you have to say.


    MIL OSI Global Banks

  • MIL-OSI United Kingdom: Businesses showcase tough justice tech to Government ministers

    Source: United Kingdom – Executive Government & Departments

    Press release

    Businesses showcase tough justice tech to Government ministers

    Thousands of criminals could soon be managed by revolutionary new technology to enhance how the justice system monitors offenders and cuts reoffending.

    • Businesses pitch new technology to Ministers that will deliver safer streets, contributing to the Government’s Plan for Change  
    • Strict 24/7 surveillance and enhanced AI could monitor criminals in the community more closely than ever before 
    • New “smell-detector” AI device could detect substance abuse inside and outside prison

    On Tuesday 01 July, seven top tech companies pitched their ideas to the Prisons and Probation’s Minister, James Timpson, as part of a Dragon’s Den style pitch, after being whittled down from over 90 submissions.  

    The finalists included companies developing AI home monitoring which will toughen up punishment outside of prison. Cameras would be installed inside offenders’ homes, with artificial intelligence used to analyse offenders’ behaviours ensuring they comply with licence conditions.  

    Other radical tech ideas included ‘smell detector’ devices which use synthetic brain cells and AI to replicate the behaviour of a human nose. The tech will help deliver enhanced surveillance and detect the use of drugs, such as Spice or Fentanyl, offering prison and probation a swift way to detect drugs and boost staff safety.  

    Additional proposals included software to standardise how staff input information on offenders, alongside transcription tools to cut the administrative burden and cost to taxpayers, while allowing staff to focus more of their time on cutting crime. 

    The successful businesses will have their proposals considered for pilot rollouts, helping staff on the front line to tackle violence in prison and monitor offenders. 

    This follows the Government’s response to the Independent Sentencing Review, which recommended the greater use of technology and community sentencing in a bid to tackle the inherited crisis in our prisons system. 

    Prisons, Probation and Reducing Reoffending Minister, James Timpson, said:  

    We inherited a justice system in crisis and in need of reform. Prisons and probation are working in analogue while tech drives forward a new digital age.

    That’s why we have invited companies to present bold new ideas to help us deliver tough punishment and enhanced surveillance. Embracing new technologies will help us to protect victims, reduce reoffending and cut crime as part of our Plan for Change.

    In the Spending Review, the Government announced that the Probation Service will receive up to £700 million, an almost 45% increase in funding. This new funding will mean tens of thousands more offenders can be tagged and monitored in the community.  

    These technological solutions follow the publication of recent research that confirms curfew tags, which keep offenders at home and off the streets during certain times, can reduce reoffending by 20 per cent. This demonstrates how even older technology is supporting punishment in the community and cutting crime.

    Updates to this page

    Published 2 July 2025

    MIL OSI United Kingdom

  • MIL-OSI Africa: Navigating Discrete Manufacturing in South Africa Through Digitalisation (By De Wet Joubert)

    By De Wet Joubert, Operations & Strategic Projects Director, RS South Africa (https://Africa.RSDelivers.com)

    South Africa’s discrete manufacturing sector, which includes industries such as automotive, electronics, rail, and aerospace, faces mounting pressure from global competition, fragmented supply chains, and outdated infrastructure. In this complex environment, digitalisation is emerging not as a future consideration, but as a critical lever for survival, resilience, and growth.

    Manufacturers are grappling with inconsistent supply chains, where limited visibility can halt entire operations. In discrete environments where the failure to procure even a single component can delay or derail entire production runs, real-time supply chain data is is no longer a luxury, it is a necessity.

    By integrating Industrial Internet of Things (IIoT) sensors, smart data loggers, and blockchain-enabled tracking platforms, manufacturers can transform disjointed supply chains into agile ecosystems. This transition can be supported with industrial communication modules, IIoT gateways, and advanced inventory management tools, all available through RS South Africa’s extensive digital platform.

    Modernising infrastructure doesn’t require a full-scale overhaul. Legacy equipment such as traditional PLCs and Human Machine Interfaces (HMIs) are not obstacles, but opportunities for optimisation. With retrofit solutions like programmable logic controllers (e.g. Siemens LOGO! 8, Allen-Bradley Micro800), signal converters, and edge computing devices, manufacturers can equip existing machinery with smart capabilities. These upgrades extend equipment lifecycles and build toward fully connected environments without requiring massive capital expenditure.

    Yet, alongside this technology imperative, there is an urgent need to address the African skills gap. National research shows that many African manufacturers remain at the early stages of Industry 4.0 readiness, with a particular deficit in digital and systems integration skills.

    To meaningfully close South Africa’s industrial skills gap, we must strengthen collaboration between higher education and industry. Universities are making great strides in incorporating real-world scenarios and advanced technologies into their programmes, but industry must also play a more active role in embedding its requirements at grassroots level. At RS South Africa, we support this through technical enablement and educational outreach, from providing Arduino and automation kits to funding student-led projects. Combined with STEM engagement and soft skills development, these efforts help bridge the gap between academic learning and industry expectations, equipping future engineers with the tools and confidence to lead.

    A cornerstone of effective digital transformation is real-time decision-making, which is enabled by robust Manufacturing Operations Management (MOM) systems as a framework. Its implementation can be supported by offering plant monitoring hardware, data acquisition systems, and panel PCs capable of displaying live dashboards. These systems streamline operations and reduce waste, while also enabling quality control, predictive maintenance, and compliance tracking.

    Digitalisation is also a powerful tool for building resilience and sustainability. With South Africa facing ongoing energy constraints and growing Environmental, Social, and Governance (ESG) expectations, manufacturers are under pressure to operate leaner and smarter. The role of predictive analytics and IIoT-enabled systems in monitoring energy usage, scheduling maintenance, and automating efficiency improvements needs to be emphasised. Products such as power meters, energy monitoring kits, smart relays, and sensor-driven HVAC systems support manufacturers in meeting these efficiency and compliance goals.

    One of the standout examples of local transformation is the Gibela rail manufacturing facility in Gauteng. Through automation, local supplier development, and workforce training, the site has achieved high levels of local content and productivity. Such projects are proof that digitalisation, combined with long-term investment in people and technology, can drive inclusive and competitive industrial growth. Components essential to such advanced environments include control panels, terminal blocks, protective relays, and advanced safety switches.

    For example, RS South Africa’s framework for enabling digital transformation in discrete manufacturing is grounded in five key pillars: retrofitting legacy equipment with intelligent controls; delivering experiential, industry-aligned training; integrating MOM systems for real-time operational insight; deploying IIoT solutions across plant and supply chains; and ensuring executive-level commitment to sustained innovation.

    In a time of global industrial acceleration, African manufacturers that fail to adopt digital tools risk being outpaced by more connected and agile competitors. Digitalisation is no longer optional, it is essential. It offers the tools to improve productivity, build resilience, drive sustainability, and unlock new economic opportunities for the country’s industrial sector. 

    By partnering with manufacturers and suppliers on this journey, we remain committed to shaping the future of African manufacturing, supporting a shift from isolated to integrated systems, from reactive to predictive operations, and from traditional labour-driven methods to data-led intelligence. 


    REFERENCES:
    Driving Digital Transformation of the Economy in South Africa 
    The Socio-economic Impact of Gibela 
    A Winning Strategy for South African Businesses (https://apo-opa.co/4l6oOnh)

    Distributed by APO Group on behalf of RS South Africa.

    PR Contact Person – RS South Africa: 
    Princess Tlou 
    Communications & Content Specialist  
    RS South Africa  
    Princess.Tlou@rsgroup.com 
    +27 11 691 9366 

    Media Contact Person – NGAGE:  
    Thobile Ndlovu 
    Senior PR Account Executive 
    thobile@ngage.co.za  
    +27 11 867 7763  

    Further information is available via these links: 

    RS South Africa (https://apo-opa.co/4le3jB6)
    RS Africa Exports (https://Africa.RSDelivers.com)
    DesignSpark (https://apo-opa.co/4l6wqWR)
    RS Group plc (https://apo-opa.co/45RSWye)

    About RS:
    RS is a global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably.  

    We operate in 36 markets, stock over 800,000 industrial and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers. This extensive range supports our customers across the industrial lifecycle of designing, building, and maintaining equipment and operations.  

    We enhance their experience through a tailored service model, leveraging our efficient physical, digital and process infrastructure sustainably. We combine a technically led and digitally enabled approach with an exceptional team of experts; ultimately, it’s our people that make the difference. 

    Our purpose, making amazing happen for a better world, reflects our focus on delivering results for people planet and profit.  

    RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2024 reported revenue of £2,942 million. 

    MIL OSI Africa

  • MIL-OSI United Kingdom: Championing the role of science

    Source: Scottish Government

    New Chief Scientific Adviser appointed.

    Professor Calum Semple OBE has been appointed the Scottish Government’s next Chief Scientific Adviser (CSA).

    He will take up the position on 5 August 2025 on an initial three-year term.

    Professor Semple is a Consultant in Paediatric Respiratory Medicine at Alder Hey Children’s NHS Foundation Trust and became Professor of Outbreak Medicine and Child Health at the University of Liverpool in 2018.

    He has held key advisory roles during public health emergencies, serving as a UK Government adviser during the 2009 Swine Flu pandemic, on the World Health Organisation Scientific Advisory Committee during the Ebola Emergency and as a member of the Scientific Advisory Group for Emergencies during the Covid pandemic.

    The role of CSA includes:

    • providing Scottish Government Ministers independent scientific advice on issues of strategic importance
    • championing Scotland’s world-leading science and research base and the role of science in the economy and society
    • inspiring the next generation of scientists and encourage diversity in the STEM (science, technology engineering and mathematics) workforce.

    Business Minister Richard Lochhead said:

    “Science is the bedrock of our society and economy and at the heart of government decision making. From health to the economy to the environment and everything in between, it is a fundamental part of our everyday lives.

    “I am delighted to welcome Professor Semple to the role of Chief Scientific Adviser and look forward to his valuable insight and advice as the Scottish Government continues to work with our world leading science sector to highlight Scotland’s strengths as a science nation and ensure it is front and centre of everything we do.”

    Professor Semple said:

    “I am thrilled to have this opportunity to work for the people and government of Scotland, providing evidence and scientific advice to support our policymakers. I particularly look forward to collaborating with Scotland’s vibrant communities of scientists and engineers in our schools, universities and industries, who inspire and drive the innovation essential for future economic growth. I will ensure that science and evidence remain at the heart of how we shape a fairer, greener, and more prosperous Scotland.

    “I would like to thank my wife, friends, and colleagues at the University of Liverpool and Alder Hey Children’s Hospital who support my career and enabled this important appointment. Their encouragement and collaboration have been vital to my journey.”

    Background

    Professor Semple was raised in Glasgow and Edinburgh. He qualified in medicine from the University of Oxford after completing a PhD in Clinical Virology at University College London and a Bachelor’s Tripos in Cell Pathology, Immunology, and Virology at Middlesex Hospital Medical School.

    His clinical academic training in Paediatric Respiratory Medicine began in 2002 when he was awarded a Department of Health National Clinical Scientist Fellowship at the University of Liverpool and Alder Hey Children’s Hospital.

    He was appointed Consultant in Paediatric Respiratory Medicine at Alder Hey Children’s Hospital in 2006 and was promoted to Professor of Outbreak Medicine and Child Health at the University of Liverpool in 2018.

    He will retain these positions, albeit with reduced activity, during his appointment to the Scottish Government.

    Professor Semple has been studying severe viral outbreaks since 1989 and co-founded the International Severe Acute Respiratory and Emerging Infection Consortium (ISARIC) in 2012. He has led research on HIV/AIDS, Bronchiolitis, Influenza, Ebola, Mpox, COVID-19, and Hepatitis, with a focus on disease characterisation and clinical countermeasures. His work has been supported by the Wellcome Trust, UK NIHR, and UKRI MRC. For his leadership of medical research activities in Sierra Leone between 2014 and 2016, he and his team were awarded the Queen’s Ebola Medal for Service in West Africa. In 2019, he received a Commonwealth Award for his ongoing work with Ebola Survivors.

    Professor Semple has held key advisory roles during public health emergencies, including serving as a UK Government advisor during the 2009 Swine Flu pandemic, on the WHO Scientific Advisory Committee for the Ebola Emergency – STAC-EE (2014–2017), the New Emerging Respiratory Viral Threats Advisory Group – NERVTAG (2014–2023), and the Scientific Advisory Group for Emergencies – SAGE for COVID-19 (2020–2022).

    He was appointed OBE in 2020 for his contributions to the COVID-19 response and was elected a Fellow of the Faculty of Public Health by distinction in 2022. His leadership is marked by integrity, collaboration, inclusivity, and clear communication.

    He enjoys spending time with his family, dogs, beekeeping, playing the pipes, and fly fishing.

    MIL OSI United Kingdom

  • MIL-OSI USA: A Disaster Recovery Center in St. Louis City to Close Temporarily

    Source: US Federal Emergency Management Agency

    Headline: A Disaster Recovery Center in St

    Louis City to Close Temporarily

    A Disaster Recovery Center in St

    Louis City to Close Temporarily

    A Disaster Recovery Center in St

    Louis City will close temporarily from July 6-13 due to a previously scheduled event at that location

     Temporarily Closed July 6-13LOCATIONHOURS OF OPERATIONUnion Tabernacle M

    B

    Church626 N

    Newstead Ave

    St

    Louis, MO 63108Monday-Saturday: 8 a

    m

    -8 p

    m

    Sunday: ClosedOpen July 1-3 and July 5Closed July 6-13Reopens July 14Four additional Disaster Recovery Centers are open in St

    Louis City and St

    Louis County to assist residents and businesses affected by the May 16 tornado and storms

     At all locations, FEMA and the U

    S

    Small Business Administration will help impacted residents with their disaster assistance applications, answer questions, and upload required documents

    Other Open LocationsLOCATIONS HOURS OF OPERATIONSt

    Louis County LibraryMid-County Branch7821 Maryland Ave

    Clayton, MO 63105Monday-Thursday: 8 a

    m

    -7 p

    m

    Friday-Saturday: 8 a

    m

    -5 p

    m

     Sunday: ClosedSt

    Louis County LibraryPrairie Commons Branch915 Utz Ln

    Hazelwood, MO 63042Monday-Thursday:  8 a

    m

    -7 p

    m

    Friday-Saturday:  8 a

    m

    -5 p

    m

     Sunday: ClosedUrban League Entrepreneurship and Women’s Business Center 4401 Natural Bridge Ave

    St

    Louis, MO 63115Monday-Saturday: 8 a

    m

    -8 p

    m

    Sunday: 8 a

    m

    -6 p

    m

    Sumner High School — Parking Lot4248 Cottage Ave

    St

    Louis, MO 63113Monday-Saturday: 8 a

    m

    -7 p

    m

    Sunday: 8 a

    m

    -6 p

    m

    All Disaster Recovery Centers will be closed on Friday, July 4 and reopen on Saturday, July 5

    You can visit any Disaster Recovery Center, no matter where you are staying now

    To save time, please apply for FEMA assistance before coming to a Disaster Recovery Center

    Apply online at DisasterAssistance

    gov or by calling 800-621-3362

     If you are unable to apply online or by phone, someone at the Disaster Recovery Center can assist you

     The FEMA application deadline for the May 16 disaster is August 11, 2025

     If your home or personal property sustained damage not covered by insurance, FEMA may be able to provide money to help you pay for home repairs, a temporary place to live, and replace essential personal property that was destroyed

    sara

    zuckerman
    Tue, 07/01/2025 – 17:22

    MIL OSI USA News

  • MIL-OSI USA: A Disaster Recovery Center in St. Louis City to Close Temporarily

    Source: US Federal Emergency Management Agency

    Headline: A Disaster Recovery Center in St

    Louis City to Close Temporarily

    A Disaster Recovery Center in St

    Louis City to Close Temporarily

    A Disaster Recovery Center in St

    Louis City will close temporarily from July 6-13 due to a previously scheduled event at that location

     Temporarily Closed July 6-13LOCATIONHOURS OF OPERATIONUnion Tabernacle M

    B

    Church626 N

    Newstead Ave

    St

    Louis, MO 63108Monday-Saturday: 8 a

    m

    -8 p

    m

    Sunday: ClosedOpen July 1-3 and July 5Closed July 6-13Reopens July 14Four additional Disaster Recovery Centers are open in St

    Louis City and St

    Louis County to assist residents and businesses affected by the May 16 tornado and storms

     At all locations, FEMA and the U

    S

    Small Business Administration will help impacted residents with their disaster assistance applications, answer questions, and upload required documents

    Other Open LocationsLOCATIONS HOURS OF OPERATIONSt

    Louis County LibraryMid-County Branch7821 Maryland Ave

    Clayton, MO 63105Monday-Thursday: 8 a

    m

    -7 p

    m

    Friday-Saturday: 8 a

    m

    -5 p

    m

     Sunday: ClosedSt

    Louis County LibraryPrairie Commons Branch915 Utz Ln

    Hazelwood, MO 63042Monday-Thursday:  8 a

    m

    -7 p

    m

    Friday-Saturday:  8 a

    m

    -5 p

    m

     Sunday: ClosedUrban League Entrepreneurship and Women’s Business Center 4401 Natural Bridge Ave

    St

    Louis, MO 63115Monday-Saturday: 8 a

    m

    -8 p

    m

    Sunday: 8 a

    m

    -6 p

    m

    Sumner High School — Parking Lot4248 Cottage Ave

    St

    Louis, MO 63113Monday-Saturday: 8 a

    m

    -7 p

    m

    Sunday: 8 a

    m

    -6 p

    m

    All Disaster Recovery Centers will be closed on Friday, July 4 and reopen on Saturday, July 5

    You can visit any Disaster Recovery Center, no matter where you are staying now

    To save time, please apply for FEMA assistance before coming to a Disaster Recovery Center

    Apply online at DisasterAssistance

    gov or by calling 800-621-3362

     If you are unable to apply online or by phone, someone at the Disaster Recovery Center can assist you

     The FEMA application deadline for the May 16 disaster is August 11, 2025

     If your home or personal property sustained damage not covered by insurance, FEMA may be able to provide money to help you pay for home repairs, a temporary place to live, and replace essential personal property that was destroyed

    sara

    zuckerman
    Tue, 07/01/2025 – 17:22

    MIL OSI USA News

  • MIL-OSI USA: A Disaster Recovery Center in St. Louis City to Close Temporarily

    Source: US Federal Emergency Management Agency

    Headline: A Disaster Recovery Center in St

    Louis City to Close Temporarily

    A Disaster Recovery Center in St

    Louis City to Close Temporarily

    A Disaster Recovery Center in St

    Louis City will close temporarily from July 6-13 due to a previously scheduled event at that location

     Temporarily Closed July 6-13LOCATIONHOURS OF OPERATIONUnion Tabernacle M

    B

    Church626 N

    Newstead Ave

    St

    Louis, MO 63108Monday-Saturday: 8 a

    m

    -8 p

    m

    Sunday: ClosedOpen July 1-3 and July 5Closed July 6-13Reopens July 14Four additional Disaster Recovery Centers are open in St

    Louis City and St

    Louis County to assist residents and businesses affected by the May 16 tornado and storms

     At all locations, FEMA and the U

    S

    Small Business Administration will help impacted residents with their disaster assistance applications, answer questions, and upload required documents

    Other Open LocationsLOCATIONS HOURS OF OPERATIONSt

    Louis County LibraryMid-County Branch7821 Maryland Ave

    Clayton, MO 63105Monday-Thursday: 8 a

    m

    -7 p

    m

    Friday-Saturday: 8 a

    m

    -5 p

    m

     Sunday: ClosedSt

    Louis County LibraryPrairie Commons Branch915 Utz Ln

    Hazelwood, MO 63042Monday-Thursday:  8 a

    m

    -7 p

    m

    Friday-Saturday:  8 a

    m

    -5 p

    m

     Sunday: ClosedUrban League Entrepreneurship and Women’s Business Center 4401 Natural Bridge Ave

    St

    Louis, MO 63115Monday-Saturday: 8 a

    m

    -8 p

    m

    Sunday: 8 a

    m

    -6 p

    m

    Sumner High School — Parking Lot4248 Cottage Ave

    St

    Louis, MO 63113Monday-Saturday: 8 a

    m

    -7 p

    m

    Sunday: 8 a

    m

    -6 p

    m

    All Disaster Recovery Centers will be closed on Friday, July 4 and reopen on Saturday, July 5

    You can visit any Disaster Recovery Center, no matter where you are staying now

    To save time, please apply for FEMA assistance before coming to a Disaster Recovery Center

    Apply online at DisasterAssistance

    gov or by calling 800-621-3362

     If you are unable to apply online or by phone, someone at the Disaster Recovery Center can assist you

     The FEMA application deadline for the May 16 disaster is August 11, 2025

     If your home or personal property sustained damage not covered by insurance, FEMA may be able to provide money to help you pay for home repairs, a temporary place to live, and replace essential personal property that was destroyed

    sara

    zuckerman
    Tue, 07/01/2025 – 17:22

    MIL OSI USA News

  • MIL-OSI Asia-Pac: LCQ16: Improving English information channels

    Source: Hong Kong Government special administrative region – 4

         Following is a question by Dr the Hon Starry Lee and a written reply by the Acting Secretary for Commerce and Economic Development, Dr Bernard Chan, in the Legislative Council today (July 2):
     
    Question:
     
         The Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC Central Committee) has adopted the Resolution of the CPC Central Committee on Further Deepening Reform Comprehensively to Advance Chinese Modernization, in which it is pointed out that Hong Kong needs to further capitalise on its strengths and become an international hub for high-calibre talents. There are views that attracting international talents requires efforts on various fronts, among which, the creation of an international living environment and the setting up of well-established English information channels for demonstration of Hong Kong’s cultural diversity, openness and inclusiveness are particularly important. In this connection, will the Government inform this Council:
     
    (1) whether it has compiled statistics on the percentage of broadcast time in foreign languages out of the total broadcast time in respect of the public broadcasting services in Hong Kong at present, and how the relevant time and percentage compare with those in other international metropolises;
     
    (2) of the specific policies and whether resources have been allocated to encourage local television and sound broadcasters to produce more quality English-language programmes, especially those with contents showcasing the business environment, cultural characteristics, lifestyle, etc, in Hong Kong;
     
    (3) whether it has evaluated the effectiveness of the existing English media contents in attracting and retaining international talents; whether it has conducted relevant surveys to understand the information needs of international talents;
     
    (4) whether it will consider setting up an additional 24-hour English channel on Radio Television Hong Kong and producing more English programmes to present a soft and down-to-earth introduction of the policies and development opportunities in Hong Kong, so as to enable international talents and inbound tourists to obtain local information more conveniently; if so, of the details; if not, the reasons for that;
     
    (5) of the Government’s plans to enhance Hong Kong’s international image and visibility by arranging additional media coverage in English, given that the 15th National Games and other international events are about to take place; and
     
    (6) apart from traditional television broadcasters, whether it has plans to make use of emerging publicity channels, such as digital platforms and social media, to produce more information contents about Hong Kong in English, so as to strengthen Hong Kong’s international communication capability, thereby creating a more attractive international living environment; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         The HKSAR Government has been striving to showcase the unique characteristics of Hong Kong, being an international metropolis, from various perspectives to attract international talents and tourists by telling the good stories of Hong Kong through diverse television and radio programmes, as well as different promotion measures. Having consulted the Labour and Welfare Bureau (LWB), the Culture, Sports and Tourism Bureau (CSTB) and the Home and Youth Affairs Bureau, our consolidated response is as follows:
     
         Hong Kong’s broadcasting market is under steady development. The three domestic free television programme service (free TV) licensees, two sound broadcasting licensees and Radio Television Hong Kong (RTHK) are providing a total of 15 television channels and 14 radio channels respectively, which include five TV channels and three radio channels in English. The general public (including non-Chinese-speaking persons in Hong Kong) can choose and enjoy diverse television and radio programmes (including English-language programmes) with a wide variety according to their needs. The HKSAR Government does not maintain related information in other regions.
     
         Under the current broadcasting regulatory framework, licensed broadcasters shall provide English programmes through their designated English channels in accordance with their licence conditions. Considering the sustainable development of licensed broadcasters and the needs of different audience, the three domestic free TV English channels are currently required to broadcast English programmes for at least 55 per cent of the broadcasting hours. Although licensed broadcasters can exercise suitable flexibility to broadcast non-English programmes for not more than 45 per cent of the broadcasting hours on their English channels, free TV licensees must broadcast English programmes during prime time on their English channels as required to cater for the needs of the general public and non-Chinese-speaking persons in Hong Kong. We also note that the current English programmes offered by licensed broadcasters cover a wide range of genres, including news, current affairs, sports, cultural features, lifestyle and arts, etc.
     
         On the other hand, RTHK also proactively offers English programmes through its radio and TV channels, including launching English programme time slots on RTHK TV 31 and 32; providing 24-hour relay of the China Global Television Network Documentary and English Channels under the China Media Group on RTHK TV 34 and 35; providing 24-hour broadcasting with diverse English programmes on RTHK Radio 3; and broadcasting bilingual programmes featuring fine music and arts information on RTHK Radio 4, etc. These help exhibit Hong Kong’s diversity and global vision, proactively telling good stories of the country and Hong Kong and enabling non-Chinese speaking persons in Hong Kong to have a better understanding of various information about Hong Kong and Mainland China.
     
         Since the three free TV licences will expire in 2027 and 2028, the Communications Authority (CA) has commenced the renewal exercise of the free TV licences and will conduct a public consultation exercise in the third quarter of 2025. In processing the renewal applications, subject to actual circumstances, the CA will consider revisions to licence conditions and regulatory requirements on free TV services (including requirements on English channels and programmes) taking into account views from the industry and the public as well as the latest market development and submit recommendations on licence renewal to the Chief Executive in Council.
     
         Regarding the attraction of talents, talents are generally concerned about employment and business start-up opportunities, children’s education and social integration when considering pursuance of development in Hong Kong. Media in English, being an international language, helps disseminate relevant information to international talents, alleviating their concern about integration into local society. To facilitate social integration of international talents in a more proactive manner, the Hong Kong Talent Engage (HKTE) of the LWB has been providing comprehensive support services to help them stay in the city for development. With a view to ensuring that the comprehensive information about living and working in Hong Kong are accessible to international talents, the HKTE’s promotional and publicity materials, including its online platform, TV Announcements in the Public Interest, social media posts, etc, are already fully available in English, and its themed seminars on living in Hong Kong also offer online livestreaming and simultaneous interpretation services. On the other hand, the HKTE launched the Talent+ Volunteer Programme in September 2024, and has been collaborating with various non-governmental organisations, working partners and corporations to provide incoming talents with diverse volunteer service opportunities, strengthening their connections with the local community and fostering their sense of belonging to the city.
     
         As for promotion of mega events, the CSTB, in collaboration with relevant government departments and organisations, has been devising extensive publicity campaigns through diverse means for the 15th National Games (NG), the 12th National Games for Persons with Disabilities (NGD) and the 9th National Special Olympic Games (NSOG), including various overseas promotional initiatives with the support of the Information Services Department (ISD), such as running advertisements in overseas media and at a number of major overseas international airports, engaging overseas key opinion leaders to publish promotional posts, and inviting overseas journalists and guests to visit Hong Kong through thematic media visit programmes and the Sponsored Visitors Programme so that they can spread their positive visiting experiences in their hometown afterwards, with a view to raising the international profile and popularity of Hong Kong and attracting more overseas spectators to the events. RTHK will also fully engage in the promotion, production and live broadcast of the 15th NG, the 12th NGD and the 9th NSOG. Besides, for organisation of major events, depending on the nature of the events, the Leisure and Cultural Services Department (LCSD) will invite media in English and other foreign languages to participate in press conferences or carry out promotional campaigns, and will also collaborate with local and international media organisations and event partners (such as relevant Consulates-General in Hong Kong, cultural organisations stationed in Hong Kong as well as the overseas Economic and Trade Offices) to promote the events. The LCSD will make good use of its social media platforms for promotion and support bilingual content so as to promote featured events to local and overseas audiences.
     
         Apart from the above promotion measures, the ISD has been setting up accounts on various social media platforms and producing more English social media posts for promotion. The ISD has also co-operated with the national media to make use of their multi-language new media platforms to promote Hong Kong to more countries through different foreign languages. Besides, the ISD will continue to work with suitable overseas media organisations to produce content on Hong Kong’s latest development in key areas, such as innovation and technology, sports, shipping, and culture and arts, etc, with the aim of expanding the reach of overseas promotional efforts through their readers’ network and social media platforms. Through monitoring of the latest market development and global trend, the ISD will continue to make use of appropriate platforms to raise the international profile of Hong Kong.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ19: Industry-related statistics and studies

    Source: Hong Kong Government special administrative region – 4

    Following is a question by the Hon Jimmy Ng and a written reply by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, in the Legislative Council today (July 2):
     
    Question:

         In collaboration with the Census and Statistics Department (C&SD), the Innovation, Technology and Industry Bureau has earlier devised a domain of economic activities comprising manufacturing and new industrialisation-related industries in Hong Kong and released statistics on the economic performance of relevant activities, so as to reflect the economic performance of Hong Kong’s new industries more precisely. In addition, as stated in the 2024 Policy Address, the Government plans to commence a study on “the medium to long-term development plan for new industrialisation in Hong Kong” (the study) within this year to accelerate the promotion of “new industrialisation” with Hong Kong’s competitive edges. It is learnt that members of the industries expect that the Government will release more statistics and study reports on the relevant industries, in particular, statistics on the operating situations of Hong Kong manufacturing enterprises operating outside Hong Kong. In this connection, will the Government inform this Council:

    (1) whether the aforementioned economic performance statistics will also cover Hong Kong manufacturing enterprises operating outside Hong Kong; if not, of the reasons for that;

    (2) of the expected completion time of the study, and whether the scope of the study will cover the operating situations of Hong Kong manufacturing enterprises operating outside Hong Kong; if so, of the details; if not, the reasons for that; whether the authorities will engage consultants to conduct such a study on a regular basis in the future; if so, of the details; if not, the reasons for that;

    (3) whether it will compile more industrial statistics and conduct more studies at different levels in future, e.g. whether it will, by drawing reference to C&SD’s statistical methodology for the statistics on offshore trade and merchanting activities, conduct a comprehensive survey on Hong Kong manufacturing enterprises operating in the Mainland and overseas, and develop regular statistical indicators on the offshore industrial sector for Hong Kong; if so, of the details; if not, the reasons for that; and

    (4) as it is learnt that at present, the Key Statistics on Business Performance and Operating Characteristics of the Industrial Sector include statistics on import and export firms engaged in sub-contract processing arrangement and providing manufacturing-related technical support services, of the reasons why offshore sales are not covered in the aforementioned economic performance statistics?

    Reply:

    President,

         Our response to the question raised by the Hon Jimmy Ng, in consultation with the Census and Statistics Department (C&SD), is as follows:

    (1) The statistics measuring the economic performance of Manufacturing and New Industrialisation-related Industries are compiled based on the statistical framework of Gross Domestic Product (GDP) which covers resident producing units only. According to international statistical standard, as offshore enterprises are not resident producing units of Hong Kong, their economic activities are not included in Hong Kong’s Manufacturing and New Industrialisation-related Industries. However, Hong Kong enterprises that are engaging in data services, software development, and other related professional technical services for supporting Hong Kong-owned offshore manufacturing enterprises are included in Manufacturing and New Industrialisation-related Industries for measuring their contribution to the GDP of Hong Kong.

    (2) To further enhance the systemic development of new industries with a view to realising the top-level design and developmental direction set out in the Hong Kong Innovation and Technology Development Blueprint, we will launch a study on the medium to long-term development plan for new industrialisation in Hong Kong, in order to better understand the current development of new industrialisation in Hong Kong and demands from the industry, and systematically analyse existing policy measures, thereby more effectively encourage traditional manufacturers to employ innovation and technology to undergo upgrading and transformation, support the development of strategic and emerging industries, as well as start-ups and future industries, strengthen support for relevant professional services, and expeditiously drive new industrialisation with Hong Kong advantages. We will launch the study within third quarter of this year. Thereafter, we will ask the consulting institution to conclude the study within 2026, and will, taking into full account the recommendations set out in the consultancy study report and Hong Kong’s local conditions, enhance and implement policies and measures that can drive new industrialisation, to support high quality development. As the tendering process is about to begin, we are unable to provide too much information at this stage. We will continue to closely monitor the development of new industrialisation in Hong Kong, and inspect existing measures or devise new ones in accordance with practical need, including but not limited to considering to launch further studies on new industrialisation. As of now, we do not have plans to regularly conduct relevant studies.

    (3) Regarding the offshore business of Hong Kong companies, in addition to compiling statistics on offshore trade and merchanting activities, the C&SD also compiles statistics (e.g. number of establishments, number of persons employed, value added of the industry and sales revenue) relating to the sub-contracting of manufacturing processes by Hong Kong import/export trading companies to the mainland of China (the Mainland) and other regions, in respect of Hong Kong companies which sub-contract their production processes to the Mainland and other regions according to contractual agreement.

    As regards business situation of non-local Hong Kong-funded companies, including those located on the Mainland and other regions, the  C&SD has practical difficulties in conducting statistical surveys outside Hong Kong to directly collect their data. As for the local companies related to these non-local companies, as the two are independent entities, the local companies concerned are often unable to provide the detailed operating data of the relevant non-local companies. Hence, the C&SD has no plan to compile detailed business statistics of non-local Hong Kong-funded companies.

    (4) As the global value chain continues to evolve, more sub-contracting manufacturing processes and related offshore activities have emerged. The compilation of related statistics is a challenge to the international statistical community. The United Nations Statistical Commission is reviewing and updating the current international standards on relevant macroeconomic statistics. The C&SD is also conducting research on related topics and reviewing the latest international statistical developments with a view to enhancing the relevant statistical systems.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ19: Industry-related statistics and studies

    Source: Hong Kong Government special administrative region – 4

    Following is a question by the Hon Jimmy Ng and a written reply by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, in the Legislative Council today (July 2):
     
    Question:

         In collaboration with the Census and Statistics Department (C&SD), the Innovation, Technology and Industry Bureau has earlier devised a domain of economic activities comprising manufacturing and new industrialisation-related industries in Hong Kong and released statistics on the economic performance of relevant activities, so as to reflect the economic performance of Hong Kong’s new industries more precisely. In addition, as stated in the 2024 Policy Address, the Government plans to commence a study on “the medium to long-term development plan for new industrialisation in Hong Kong” (the study) within this year to accelerate the promotion of “new industrialisation” with Hong Kong’s competitive edges. It is learnt that members of the industries expect that the Government will release more statistics and study reports on the relevant industries, in particular, statistics on the operating situations of Hong Kong manufacturing enterprises operating outside Hong Kong. In this connection, will the Government inform this Council:

    (1) whether the aforementioned economic performance statistics will also cover Hong Kong manufacturing enterprises operating outside Hong Kong; if not, of the reasons for that;

    (2) of the expected completion time of the study, and whether the scope of the study will cover the operating situations of Hong Kong manufacturing enterprises operating outside Hong Kong; if so, of the details; if not, the reasons for that; whether the authorities will engage consultants to conduct such a study on a regular basis in the future; if so, of the details; if not, the reasons for that;

    (3) whether it will compile more industrial statistics and conduct more studies at different levels in future, e.g. whether it will, by drawing reference to C&SD’s statistical methodology for the statistics on offshore trade and merchanting activities, conduct a comprehensive survey on Hong Kong manufacturing enterprises operating in the Mainland and overseas, and develop regular statistical indicators on the offshore industrial sector for Hong Kong; if so, of the details; if not, the reasons for that; and

    (4) as it is learnt that at present, the Key Statistics on Business Performance and Operating Characteristics of the Industrial Sector include statistics on import and export firms engaged in sub-contract processing arrangement and providing manufacturing-related technical support services, of the reasons why offshore sales are not covered in the aforementioned economic performance statistics?

    Reply:

    President,

         Our response to the question raised by the Hon Jimmy Ng, in consultation with the Census and Statistics Department (C&SD), is as follows:

    (1) The statistics measuring the economic performance of Manufacturing and New Industrialisation-related Industries are compiled based on the statistical framework of Gross Domestic Product (GDP) which covers resident producing units only. According to international statistical standard, as offshore enterprises are not resident producing units of Hong Kong, their economic activities are not included in Hong Kong’s Manufacturing and New Industrialisation-related Industries. However, Hong Kong enterprises that are engaging in data services, software development, and other related professional technical services for supporting Hong Kong-owned offshore manufacturing enterprises are included in Manufacturing and New Industrialisation-related Industries for measuring their contribution to the GDP of Hong Kong.

    (2) To further enhance the systemic development of new industries with a view to realising the top-level design and developmental direction set out in the Hong Kong Innovation and Technology Development Blueprint, we will launch a study on the medium to long-term development plan for new industrialisation in Hong Kong, in order to better understand the current development of new industrialisation in Hong Kong and demands from the industry, and systematically analyse existing policy measures, thereby more effectively encourage traditional manufacturers to employ innovation and technology to undergo upgrading and transformation, support the development of strategic and emerging industries, as well as start-ups and future industries, strengthen support for relevant professional services, and expeditiously drive new industrialisation with Hong Kong advantages. We will launch the study within third quarter of this year. Thereafter, we will ask the consulting institution to conclude the study within 2026, and will, taking into full account the recommendations set out in the consultancy study report and Hong Kong’s local conditions, enhance and implement policies and measures that can drive new industrialisation, to support high quality development. As the tendering process is about to begin, we are unable to provide too much information at this stage. We will continue to closely monitor the development of new industrialisation in Hong Kong, and inspect existing measures or devise new ones in accordance with practical need, including but not limited to considering to launch further studies on new industrialisation. As of now, we do not have plans to regularly conduct relevant studies.

    (3) Regarding the offshore business of Hong Kong companies, in addition to compiling statistics on offshore trade and merchanting activities, the C&SD also compiles statistics (e.g. number of establishments, number of persons employed, value added of the industry and sales revenue) relating to the sub-contracting of manufacturing processes by Hong Kong import/export trading companies to the mainland of China (the Mainland) and other regions, in respect of Hong Kong companies which sub-contract their production processes to the Mainland and other regions according to contractual agreement.

    As regards business situation of non-local Hong Kong-funded companies, including those located on the Mainland and other regions, the  C&SD has practical difficulties in conducting statistical surveys outside Hong Kong to directly collect their data. As for the local companies related to these non-local companies, as the two are independent entities, the local companies concerned are often unable to provide the detailed operating data of the relevant non-local companies. Hence, the C&SD has no plan to compile detailed business statistics of non-local Hong Kong-funded companies.

    (4) As the global value chain continues to evolve, more sub-contracting manufacturing processes and related offshore activities have emerged. The compilation of related statistics is a challenge to the international statistical community. The United Nations Statistical Commission is reviewing and updating the current international standards on relevant macroeconomic statistics. The C&SD is also conducting research on related topics and reviewing the latest international statistical developments with a view to enhancing the relevant statistical systems.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: APEC Opens Scientist Exchange Program in Korea Sejong, Republic of Korea | 02 July 2025 APEC Policy Partnership on Science, Technology and Innovation APEC has kicked off a new exchange program to boost cross-border research, with Korea hosting the first cohort of scientists in Seoul this year.

    Source: APEC – Asia Pacific Economic Cooperation

    APEC has kicked off a new exchange program to boost cross-border research, with Korea hosting the first cohort of scientists in Seoul this year. The Scientist Invitation Program to Korea 2025 marks the first program under the APEC Scientist Exchange Initiative, a new regional effort to enhance scientific mobility and long-term collaboration.

    This is the first time APEC has launched a dedicated mobility track for scientists, signaling a significant step toward institutionalizing scientific exchange as part of the region’s broader agenda for inclusive innovation and sustainable growth.

    Funded and implemented this year by the Ministry of Science and ICT of the Republic of Korea, the program supports researchers from APEC member economies through structured training and joint research opportunities. It also offers streamlined visa application processes and fast-track entry and exit at Korean ports of entry.

    The launch comes at a time when economies are navigating post-pandemic recovery, an accelerating digital transformation and rising demand for interdisciplinary scientific talent. By investing in mobility and peer exchange, the program responds to calls for deeper regional cooperation in science and technology.

    “Capacity building and exchange programmes empower scientists to share knowledge, foster innovation and create solutions that transcend borders, driving global progress through shared mission collaborations via human-to-human exchanges,” said Hazami Habib, Vice Chair of the APEC Policy Partnership on Science, Technology and Innovation (PPSTI).

    “This could lead to not only enhanced connectivity but also significant impacts across the APEC region. The Scientist Invitation Program to Korea 2025 is a commendable initiative which stimulates further interest in collaborative research within the region,” Habib added.

    “Korea has emphasized the importance of innovation driven by cultivating science and technology talent,” said Sunghoon Hwang, Director General for International Cooperation at Korea’s Ministry of Science and ICT. “We hope that the Scientist Invitation Program will enable scientists from Korea and participating APEC members to build research networks and create scientific collaboration opportunities across the region, particularly with Korea.”

    The program offers two distinct pathways for participation. The first is a 10-day capacity-building track that includes mentoring, expert lectures and policy discussions to support future collaboration. The second is a 90-day research placement, where participants conduct joint research at leading Korean institutions. Eligible applicants must hold a PhD or a master’s degree with at least three years of relevant professional experience.

    The first session, focused on physics, ran from 26 May to 6 June in Seoul. It brought together 21 researchers and professors from Malaysia, Peru and Thailand, who engaged in lab visits, including the Center for Quantum Nanoscience at Ewha Womans University, and took part in cultural experiences that strengthened professional and personal ties.

    “This program will help me to have an international collaboration. I feel good, and this is a good opportunity for me,” said Dr Nuttawadee Intachai, a lecturer at Chiang Mai University in Thailand who participated in the session.

    The second session, focused on chemistry and involving scientists from Indonesia and the Philippines, concluded on 27 June. Upcoming sessions in earth sciences and life sciences, along with the first round of 90-day research placements, are set to begin in July.

    With up to 100 scientists expected to participate this year, the Scientist Invitation Program is laying the groundwork for a more connected, collaborative, and innovation-driven APEC region.

    The broader initiative also includes plans for an APEC Scientist Travel Card, modeled after the APEC Business Travel Card. Once developed, the card would streamline mobility for scientists attending conferences, seminars, or joint projects by facilitating visa-free or expedited entry. More information is available on the official program website.


    For media inquiries, please contact: [email protected]

    MIL OSI Economics

  • MIL-OSI United Kingdom: Coventry Music and Go CV strike a chord with new partnership

    Source: City of Coventry

    Following the success of the city’s first-ever Coventry Schools’ Arts Week, Coventry City Council is proud to announce an exciting new partnership between Coventry Music and Go CV.

    This initiative, launching in September 2025, will open up more opportunities for young people and families across Coventry to engage with music, helping to break down financial barriers to participation.

    As part of this new collaboration:

    • Go CV+ members will receive a 25% discount on direct billed music lessons with Coventry Music.
    • All Go CV card holders – regardless of card type – will enjoy free access to nearly all Coventry Music Groups.

    This partnership represents a significant step towards making music education and community engagement more accessible and inclusive for all.

    Councillor Dr Kindy Sandhu, Cabinet Member for Education and Skills at Coventry City Council said: “Music has the power to inspire, unite, and transform lives. This new partnership between Coventry Music and Go CV will ensure that more children and young people can access high-quality music opportunities, regardless of their background. It’s another step towards a fairer, more creative Coventry.”

    The announcement follows a hugely successful Coventry Schools’ Arts Week, which saw schools across the city come together in a vibrant celebration of creativity. The new partnership builds on this momentum, strengthening the Council’s commitment to cultural growth and lifelong learning.

    Councillor Kamran Caan, Cabinet Member for Public Health, Sport and Wellbeing said: “It’s fantastic to see another exciting expansion of the Go CV scheme. Go CV continues to make a real difference for people across our city — helping families save money, access fantastic opportunities, and enjoy all that Coventry has to offer. It’s a great example of how we can support local communities and promote health, wellbeing and inclusion.”

    Go CV, which is used by over 125,000 residents in the city, gives access to discounts and offers when visiting local attractions. Through the Go CV mobile app, savings can be made when shopping at local businesses too.

    Residents living in Coventry can join Go CV for free via the Go CV website. Businesses interested in partnering with Go CV and creating an offer for Coventry residents can register for free via the business portal.

    More about Coventry Music

    To keep up to date with the latest news, sign up for the Your Coventry email newsletter or follow the Council on FacebookXYouTubeInstagramLinkedIn and TikTok.

    Published: Wednesday, 2nd July 2025

    MIL OSI United Kingdom

  • MIL-OSI Economics: Country and regional analyses underscore urgency of WTO reform

    Source: International Chamber of Commerce

    Headline: Country and regional analyses underscore urgency of WTO reform

    Building on the 2024 regional study, a new 2025 follow-up report commissioned by the International Chamber of Commerce (ICC) and conducted by Oxford Economics provides a country-level look at the consequences of WTO dissolution for ten developing economies: Brazil, Cameroon, China, Egypt, Guatemala, India, Indonesia, South Africa, Türkiye and Vietnam.

    The 2024 regional study (available in English and Spanish) showed that WTO dissolution would have devastating consequences for developing economies across the world, including:

    • A 33% drop in developing countries’ non-fuel goods trade relative to a baseline scenario with the multilateral system still in place;
    • A permanent GDP loss to developing countries of over 5% – driven in part by a 5% decline in foreign direct investment flows;
    • Acute export losses of 43% in low-income economies and 32% in middle-income countries;
    • At a regional level, trade flows in Sub-Saharan Africa and South Asia are most affected, reflective of the large number of LDCs within these groupings. 

    This new country-level analysis confirms those findings and shows the impact on ten examined developing economies:

    • Non-fuel goods exports would fall by up to 45%, with Brazil, India and China among the hardest hit. Even the least affected countries in the sample — Egypt and Guatemala — would face declines of around 20%;
    • Foreign direct investment is projected to fall between 3–6% in the ten countries studied, as rising uncertainty and trade costs undermine investor confidence;
    • Long-run GDP losses are estimated to range from 3% to 6%, with the sharpest contractions in economies highly dependent on export-led growth, such as Vietnam, China and India.

    These figures underscore what is at stake. For developing countries, the breakdown of the multilateral trading system would not just slow progress, it could reverse hard-won development gains.

    The message is clear: the multilateral trading system remains an essential foundation not only for economic growth and poverty reduction, but to also safeguard wider global interests, including supply chain resilience. Preserving and strengthening the WTO is not a theoretical exercise — it is an urgent priority for sustainable development and shared prosperity.

    Why are some countries more exposed than others?

    The research shows that countries with shallow integration into global value chains and limited trade agreements —such as Brazil and India — would face the sharpest export declines. Others, like China and Vietnam, are more integrated into global markets but remain highly dependent on a predictable, rules-based system. In all cases, a WTO dissolution would have far-reaching consequences for growth and development.

    Can FTAs replace the WTO’s rule-based system?

    While regional and bilateral trade agreements offer some protection, they do not offer the global legal certainty and broad-based commitments provided by WTO rules. Even with countries with more extensive FTA networks, such as Guatemala and Egypt, would still face major disruptions. In addition, many FTAs are built on WTO rules. If the global trading system broke down, parts of those agreements could stop working properly, and some deals might need to be rewritten.

    What needs to happen now?

    The findings reinforce the urgency of revitalising and strengthening the multilateral trading system. ICC urges governments to work together to ensure the multilateral trading system is modernised and made fit-for-purpose to meet the demands of today’s global economy.

    Without action, the cost of the erosion of the WTO will fall heaviest on those with the least ability to absorb it and the greatest need for a stable, rules-based global economy. The alternative, as this paper shows, is not just economic disruption for developing countries, but a devastating setback for global development and, ultimately, for the lives and livelihoods of billions.  

    MIL OSI Economics

  • MIL-OSI Economics: ICC expands Principles for Sustainable Trade Finance to include social impact and supply-chain solutions

    Source: International Chamber of Commerce

    Headline: ICC expands Principles for Sustainable Trade Finance to include social impact and supply-chain solutions

    Launched during the Financing for Future Development conference taking place in Seville, Spain, the updated Principles feature new Principles for Social Trade Finance (PSoTF) that enable lenders to classify facilities whose proceeds directly benefit vulnerable or underserved populations and align with the Social Loan Principles and the United Nations Sustainable Development Goals. Additionally, the update introduces the ICC Principles for Sustainability-Linked Supply-Chain Finance (PSL-SCF), providing detailed guidance on KPI selection, target calibration, monitoring and de-classification across all parties involved. This gives buyers and their suppliers a consistent, incentive-based pathway to embed decarbonisation and social metrics in payables-finance programmes.

    Provide your feedback: Industry consultation now open until 5 September 2025

    ICC has launched a public consultation inviting feedback from stakeholders across the trade finance ecosystem on the new components (the PSoTF and PSL-SCF) of the Principles. The survey, available here, is open until 5 September 2025, and is essential to ensure the final framework balances technical rigor with practicality for users operating across diverse geographies and product sets. ICC expects to formally ratify the document in Q3/4 of 2025.

    Contact us: For more information on the Principles for Sustainable Trade Finance or to submit detailed comments, please reach out to:

    More insights

    MIL OSI Economics

  • MIL-OSI Submissions: Australia – Tariffs, geopolitical tensions and a turning tide on inflation: here’s what CommBank’s economists are looking out for in FY26 – CBA

    Source: Commonwealth Bank of Australia (CBA)

    While global risks remain elevated, Australia’s economy is showing signs of resilience.

    “If anyone was still in any doubt that we had entered a new global economic era, the last few months have put those doubts to rest,” according to CBA’s Chief Economist Luke Yeaman and his team, today publishing ‘The CommBank View’, an in-depth analysis of economic issues in the year ahead.

    The report presents a cautiously optimistic outlook for FY26. Despite persistent global headwinds—including trade tensions and geopolitical uncertainty—the domestic economy is expected to remain resilient, buoyed by falling interest rates, stabilising inflation, and a rebound in household spending.

    Global Landscape: A New Economic Era

    CBA economists describe the current global environment as a departure from the stability of the “Great Moderation,” likening it instead to the economic volatility seen in the 1970s. The report notes:

    “Conflict, volatility, and economic nationalism will remain defining features of the global economy in FY26.”

    US trade policy is a major source of uncertainty. Tariff rates have tripled since 2024, and further hikes could again disrupt markets. Despite these tensions, the report highlights a willingness among global powers to avoid a full-scale breakdown of economic ties between major economies:

    “The US and China chose to step back from the brink and avoid full economic decoupling — for now the costs are simply too high.”

    Domestic Outlook: On the Path to a Cautious Recovery

    Australia’s economic growth is expected to step up from 1.3% to 2.3% by June 2026, with inflation settling in the RBA’s target band. In light of this, CBA economists expect the RBA to deliver 25 basis point rate cuts in both July and August, bringing the cash rate to 3.35% and then hold at those neutral levels.

    However, consumer behaviour remains a wildcard. While discretionary spending is beginning to recover, the report warns:

    “Consumers may be experiencing some scarring from the sustained cost-of-living crunch. This could see the recovery in household consumption disappoint in FY26.”

    https://youtu.be/bJt4917N5ts

    Key Tr

    MIL OSI – Submitted News

  • MIL-OSI United Nations: Private Sector Partners Bring More Than Capital, ‘They Bring Creativity, Agility, Scale’, Deputy Secretary-General Tells International Business Forum

    Source: United Nations General Assembly and Security Council

    Following are UN Deputy Secretary-General Amina Mohammed’s remarks at the high-level session of the International Business Forum, in Sevilla, Spain, today: 

    It is a privilege to join you today at this pivotal moment for the future of development finance.

    Sadly, the world faces a sustainable development crisis.  Trade barriers are growing.  Aid budgets are shrinking.  Macroeconomic risks are mounting.  Debt burdens are dragging down growth.  Climate shocks are hitting harder and more often.  Development finance is at a critical inflection point.

    Official development assistance (ODA), long a cornerstone of international solidarity, declined by 7 per cent in real terms last year.  And further cuts are already on the table.

    But, the real picture is even starker.  Much of what is counted as ODA today is being redirected to cover domestic priorities, not long-term Sustainable Development Goals (SDG) investments.  At the same time, the SDG financing gap has ballooned to $4 trillion a year.

    Yet, amid this sobering reality lies an opportunity:  An opportunity to reimagine development finance for the world we live in now.  To move from a model built on assistance, to one driven by purpose and partnership.  From international assistance, to strategic, sustainable investment.

    In this new vision, public finance, national and international, remains essential.  Especially in sectors where market incentives are weak, but human needs are immense, like education, health, social protection.

    But public finance alone cannot carry the weight.  It must be used to unlock and leverage private investment, at scale and with speed.  The question we need to answer is clear:  What will it take for private capital to flow where it is most needed?

    The outcome document of the fourth International Conference on Financing for Development, the “Sevilla Commitment”, puts forward a compelling action agenda that seeks to answer this question.

    First, we need an enabling business environment, supported by strong institutions, policy coherence and investment pipelines.

    Second, we need better blended finance vehicles that deliver sustainable development impact and align with developing countries’ national priorities.  This requires standardizing blended finance with replicable and scalable structures, a ready pipeline of bankable projects and more transparency in the development outcomes of transactions.

    Third, we need financial innovation.  Equity instruments.  Auction mechanisms.  Creative tools that allow public and private actors to share risk and reward more fairly.

    Fourth, we must scale up aggregation platforms that expand catalytic capital and reduce transaction costs by pooling resources from international financial institutions.

    Fifth, it is time to reassess prudential regulations that may unintentionally discourage long-term investments in developing countries. We need to engage with regulators to ensure risk is not mispriced and regulation enables greater use of risk-sharing tools.

    Let’s be clear:  we must dramatically expand our sources of development capital, and we must do so urgently and intentionally.  This is why the United Nations calls on all actors across the investment ecosystem to join us in a long-term, collaborative effort to reshape development finance.

    At the UN, we are taking concrete steps to strengthen partnerships to unlock capital for sustainable development.  Platforms such as the Global Investors for Sustainable Development Alliance are bringing together private investors, foundations, policymakers and leaders across the development finance spectrum.  These leaders can shape sustainable finance frameworks, identify investment barriers and pilot innovative solutions.

    Working together, we can coordinate action, amplify impact and accelerate the global shift towards long-term, responsible development finance. Private sector partners bring more than capital.  They bring creativity, agility and scale.  They can power the transition to green energy, accelerate digital inclusion and revolutionize service delivery.

    Philanthropic partners are also uniquely positioned to take risks others cannot, test innovations and address gaps that markets and Governments may not reach.  They can back new models and ideas in early stage projects or help unlock larger flows of investment by building proof points and trust.

    Above all, our financing systems must work for those who have historically been excluded, and on a practical level that means that means removing structural barriers that keep capital out of the hands of women-led businesses, youth innovators and underserved communities.

    This is not about making tweaks here and there.  It is about rethinking the fundamentals.  The current financial system was not built for today’s world.  Let alone tomorrow’s.  We need a system that allocates capital not only by profit, but by purpose; not only by returns, but by impact.

    The next chapter of development finance is not yet written.  But, it must be a shared story written by all of us and accountable to all people.  So, let’s seize this moment and step into this new era not as donors or beneficiaries, but as equal partners, and deliver on the promise of sustainable development.  On behalf of the United Nations, I thank you for your leadership, your ideas and your resolve.

    MIL OSI United Nations News

  • MIL-OSI Economics: Samsung Showcases AI-Enhanced Appliances at First 2025 India Tech Seminar

    Source: Samsung

     
    Samsung hosted its first-ever India Tech Seminar in Gurugram. The landmark event was the first of its kind ever held by Samsung in the country, and it brought together around 30 journalists and tech influencers for an immersive, hands-on experience with Samsung’s latest AI-enhanced home appliances.
     
    The seminar included presentations from engineers specializing in refrigeration, laundry, and air conditioning, as well as a customer experience (CX) planner and software engineer. It showcased the enhanced capabilities of its latest products while reaffirming the company’s continued commitment to intelligent living through its “AI Home” vision.
     
    The event began with a welcome address by Ghufran Alam, Vice President, Digital Appliances Business, Samsung India, followed by a presentation from Saurabh Katyal, Head of the Digital Appliances (DA) Business at Samsung India. He introduced the India 2025 Bespoke AI lineup, which includes models already available in the Indian market — such as the Bespoke AI WindFree Air Conditioner, Bespoke AI Double Door Refrigerator, Bespoke AI Top Load Washer and the recently released Bespoke AI Laundry Combo — as well as the soon-to-launch Bespoke AI Refrigerator with AI Home.
     
    To meet the high level of interest that consumers in India have for the SmartThings ecosystem, a live demo led by Samsung’s multi-device experience (MDE) team highlighted how connected technologies support Samsung’s four core values, which are Easy to Use, Saving, Care and Secured. The demo was conducted using the 9” display on the Bespoke AI Refrigerator, serving as a central control hub that ideally showcases the SmartThings experience.
     
     

     
    Key features that were demonstrated included Map View for intuitive device control, Bixby voice commands for seamless interaction, the Knox Security Dashboard for home monitoring, and SmartThings Energy for power usage tracking and optimization. The MDE team also showcased the convenience of SmartThings Routines, which are preset automations that manage devices when users leave their homes, with the capability to automatically turn off appliances and activate security features.
     
    Additionally, Samsung engineers introduced other enhanced features and explained how AI Energy Mode, which is part of SmartThings Energy, functions across the appliance lineup.
     
    Refrigerators
     
    • The Bespoke AI Refrigerator with AI Home features the upgraded AI Vision Inside, which recognizes a wider range of food items to help users manage groceries more efficiently.
     
    • The Bespoke AI Double Door Refrigerator is equipped with Twin Cooling Plus for independent fridge and freezer cooling, and the Convertible 5-in-1 feature, which allows users to flexibly adjust compartments to meet their storage needs. AI Energy Mode helps reduce power consumption through optimized temperature control.
     

     
    Washing Machines
     
    • The Bespoke AI Laundry Combo is a heat pump washer-dryer newly launched in India, featuring AI Wash, which detects load weight, fabric type, and soil level to adjust washing performance, and a heat exchanger for faster, energy-efficient drying.
     
    • The Bespoke AI Top Load Washer is Samsung’s first top-load washer in India with AI features, offering AI Wash, AI VRT+ for noise and vibration reduction, and AI Energy Mode to optimize energy usage based on user habits.
     
     

    Air Conditioners
     
    • The Bespoke AI WindFree Air Conditioner offers draft-free cooling via 23,000 micro-holes, AI Fast & Comfort Cooling, and AI Energy Mode, which learns user behavior to reduce energy consumption by up to 30%.
     
    “The Tech Seminar was a great opportunity to deliver detailed insights into our innovative and trustworthy technologies directly from our engineers to the Indian media,” said Ghufran Alam, Vice President of the DA Business at Samsung India. “We’re proud to continue building meaningful connections with our customers through smarter, AI-enhanced experiences.”
     
    For more information on Samsung’s latest AI-powered home appliances and SmartThings innovations, please visit www.samsung.com.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Pride in London 2025 – information for businesses and residents | Westminster City Council

    Source: City of Westminster

    Pride in London is taking place on Saturday 5 July. Pride has returned to the heritage route it has used since 2022: commencing on Piccadilly near to Hyde Park Corner, travelling along Piccadilly, crossing Piccadilly Circus, turning into Haymarket, then turning left towards Trafalgar Square and dispersing on Whitehall Place.

    View the Pride in London interactive parade map

    The event areas include:

    • Trafalgar Square – Main stage
    • Golden Square – The World Stage
    • Leicester Square – LGBTQI, Women and Non-Binary Stage
    • Dean Street – The Cabaret Stage
    • Soho Square – Trans and Non-Binary Stage, with Pride in London Community Market
    • Victoria Embankment Gardens – The Family Area

    All event areas run from 12pm to 8pm with the exception of the Family Area which will run from 12pm to 6pm.

    Road closures

    During the event, vehicle access and parking along the parade route and in the event areas, including Piccadilly and Soho, will be restricted.

    Find out more about road closures during the parade

    Once Piccadilly is closed to traffic, the only route into the area around St James’s Square/South of Piccadilly will be via Marlborough Road and St James’s Park. Local access into this area will be possible via St James’s Park roads during Pride due to the Royal Parks keeping the roads open (unlike a usual Saturday)

    There are also pedestrian crossing points across Piccadilly which go in both directions.

    Resident parking

    Zone G Permit holders will be able to park in Resident Parking Bays in E (Mayfair) and F (north of Oxford Street) zones during the event parking suspensions. This will be from 6:30pm on Friday 4 July 2025 to 8:30am on Monday 7 July 2025.

    Find out more about our parking zones.

    Information for businesses

    Businesses should be aware of road closures and arrange for any deliveries or waste collections to take place outside of the road closure times, as vehicles will not be allowed to travel through. Commercial waste should not be left out on street during the event and must either be collected outside of the road closure times or stored within the premises.

    Pride offers the opportunity for businesses to be involved in the event, which may include extending your business operation into the street. Full details on this is provided in the Pride Business Pack, including how to get in touch with the relevant Pride team and information on licensing.

    If you are a licensed premises, you must follow the conditions of your premises licence.

    If you are located in the Soho or surrounding areas and would like to do anything that impacts the highway (including pavements) outside of your normal operation, you must apply to do so. The Pride in London footprint can become very crowded and so it may not be possible to grant permission for some requests.

    In all other areas we ask you to consider if al-fresco street dining can be operated safely. Pride in London will not provide any barriers or security staff to enable you to manage al-fresco dining.

    For more information about licensing and conditions to be observed, please refer to the Business Information Pack or email rbl@prideinlondon.org for a copy. 

    Parks

    The following Westminster Parks and Gardens will have altered opening hours and may have sections closed for public access due to the set up of the event:

    Victoria Embankment Gardens

    • Bandstand paved area and some of the central pathway will be closed on Friday 04 July
    • The Gardens will be open to the public for the event from 12pm to 6pm on Saturday 5 July
    • it will reopen at 7am on Sunday 6 July

    Leicester Square Gardens

    • East side of the Gardens will be closed on Friday 4 July
    • The Gardens will be open to the public for the event from 12pm to 8pm on Saturday 5 July
    • it will reopen at 10am on Sunday 6 July

    Golden Square Gardens

    • North and East side of the Gardens will be closed on Friday 4 July
    • The Gardens will be open to the public for the event from 12pm to 8pm on Saturday 5 July
    • it will reopen at 10am on Sunday 6 July

    Soho Square Gardens

    • North West side of the Gardens will be closed on Friday 4 July
    • The Gardens will be open to the public for the event from 12pm to 8pm on Saturday 5 July
    • it will reopen at 10am on Sunday 6 July

    St Anne’s Church Gardens

    • The Gardens will be closed to the public on Saturday 5 July
    • it will reopen at its normal time of 10am on Sunday 6 July

    Further Information

    If you wish to contact the Pride in London Resident and Business Liaison team, please email rbl@prideinlondon.org

    You can also contact them on the day of the event on 0204 576 9744

    To contact our Events and Filming Team please email: eventsandfilming@westminster.gov.uk

    If you have a noise or street problems to report on the night, please use the Report It webpage

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Customers to receive up to £2000 for water service failures

    Source: United Kingdom – Executive Government & Departments

    Press release

    Customers to receive up to £2000 for water service failures

    Uplifts to Guaranteed Service Standard Scheme will result in up to tenfold increase for customer compensation when they’ve been failed by water companies

    • Increase to water company reimbursements put more money back into customers’ pockets when their services are hit
    • Triggers for compensation to be expanded to include company failure to conduct meter readings and installations
    • One of Environment Secretary’s first promises in office delivered as government rolls out plan to reform the water sector

    Water companies will increase compensation payments to customers up to tenfold from today (2 July), ensuring that the public are more fairly reimbursed for supply issues and low standards of service.  

    Customers will automatically receive more money for issues such as continued low water pressure and cancelled appointments. 

    A key step in the government’s mission to reform the water sector, the move marks the first uplift in compensation rates in 25 years, with the government recognising the urgent need to bring payments in line with inflation and properly compensate households for poor service. 

    Severe issues such as flooding will see customer compensation double from £1,000 to up to £2,000, while households suffering consistent low water pressure will be automatically eligible to receive up to £250 – a huge uplift from the previous compensation rate of just £25.  

    From today, no action will be needed from eligible customers as payments will automatically be credited back to their accounts. 

    Environment Secretary Steve Reed said:  

    Too many water companies are letting down their customers – with leaking pipes, poor water supply and low water pressure.  

    The Government is holding water companies to account by making them put money back into people’s pockets when they fail their customers.

    The government is also working with water companies to expand the list of circumstances that will trigger compensation payments. Compensation for when customers are asked to boil their water due to contaminated supply will come into force later this year. 

    The standards, outlined in the Guaranteed Standards Scheme, set out a baseline for customer service in the water sector. They include providing timely restoration of water supply following an interruption, responding to written complaints and managing the risk of sewer flooding.  

    This comes as part of the government’s action to cut sewage spills and attract investment in the sector, including:  

    • Strengthening regulation to ensure polluting water bosses who cover up their crimes now face two-year prison sentences.
    • Banning unfair bonuses for bosses of six polluting water companies.
    • Launching a record 81 criminal investigations into sewage pollution.
    • Securing £104bn in private sector investment to upgrade crumbling sewage pipes and cut sewage by nearly half by 2030.
    • Launching the Independent Water Commission led by Sir John Cunliffe to modernise the water industry and work with companies and their investors to make the industry one of growth and opportunity.

    Mike Keil, Chief Executive of the Consumer Council for Water (CCW), said:  

    Customers expect to be treated fairly when their water company lets them down, so we’re delighted the Government has moved at pace to strengthen service standards.”  

    This should give people peace of mind they now have far stronger protection from a much broader range of water company service failures – from the slow installation of water meters to the mishandling of debt recovery. As well as bolstering payments for thousands of customers, these changes mark an important step towards restoring trust in the water sector which is at an all-time low.

    David Black, Chief Executive of Ofwat said: 

    We welcome these improvements to guaranteed standards and payments for customers. 

    When customers suffer from problems like low pressure, disruptions to supply or sewer flooding they can experience major stress and inconvenience, and payment amounts must recognise the disruption to their lives when standards are not met.  

    These new changes are another way to make sure customers are protected when companies get it wrong.

    Annex A

    Summary of updates to payment levels for existing standards:

    Existing Standards Coming into force date Old GSS payment New GSS payments Uplift
    Household Non-Household Household Non-Household Household Non-Household
    Appointments not made properly 2 July £20 £40 100%
    Appointments not kept Uprated payments to existing standard – 2 July
    Amended standard 1 Oct
    £20 £50 150%
    Account queries not actioned on time Uprated payments to existing standard – 2 July
    Amended standard 1 Oct
    £20 £40 100%
    Requests to change payment arrangements not actioned on time Uprated payments to existing standard – 2 July
    Amended standard 1 Oct
    £20 £40 100%
    Complaints not actioned on time Uprated payments to existing standard – 2 July
    Amended standard 1 Oct
    £20 £40 100%
    Less than 48 hours’ notice of planned supply interruption of more than 4 hours 2 July £20 £50 £50 £100 150% 100%
    Supply not restored on time 2 July £20, and £10 for each subsequent 24 hours £50, and £25 for each subsequent 24 hours £50, and £50 for each subsequent 12 hours £100, and £100 for each subsequent 12 hours 150% for initial payment,
    400% for subsequent payment and halved subsequent payment period
    100% (for both initial and subsequent payment)
    and halved subsequent payment period
    Low pressure 2 July £25
    (once per financial year)
    £50, up to five payments per financial year – equivalent to just over the average water bill.
    Automatic £250pa for customers with ongoing low pressure
    100% and increased annual maximum by 10x
    Internal flooding from sewers 2 July Payment equal to annual sewerage charges
    (Minimum payment of £150. Maximum of £1000)
    Payment equal to annual sewerage charges, at minimum of £300 and maximum of £2000 Min and Max increased by 100%, with provision for repeated incidents in a year to warrant further increases to the maximum (see fig 1)
    External flooding from sewers 2 July Payment equal to 50% of annual sewerage charges
    (Minimum payment of £75. Maximum of £500)
    Payment equal to 50% of annual sewerage charges, at minimum of £150 and maximum of £1000 Min and Max increased by 100%, with provision for repeated incidents in a year to warrant further increases to the maximum (see fig 1)
    Failure to make automatic GSS payment 2 July £10-20 depending on standard £10-50 depending on standard £40 £100 100-200% depending on standard, consolidating all payments to one value for households and one value for non-households

    Figure 1 –Repeat Sewer Flooding payment bands

    Max Min
    Internal Sewer Flooding £2000 + £500 per repeat occurrence within 12 months £300 + £100 per repeat occurrence within 12 months
    External Sewer Flooding £1000 + £250 per repeat occurrence within 12 months £150 + £50 per repeat occurrence within 12 months

    Summary of new standards

    New Standard Coming into force Information GSS payments
    Household Non-Household
    Core Priority Services 1 Oct The company must keep a list of customers whose circumstances (such as medical or disability) are such that they require additional services to be provided in certain circumstances.

    The company must provide the relevant service to the customer in response to an incident and must inform the customer if they are added to the Core Priority Services Register.

    £100 N/A
    Domestic Customer in Arrears 1 Oct Giving information relating to the customer’s non-payment to a Credit Reference Agency or beginning legal proceedings to recover the debt without giving the customer an ‘outstanding charges notice’ and an opportunity to make payment arrangements or make representations in connection with them. £150 N/A
    Reading of Meters 1 Oct The water company must read a customer’s water meter (excluding smart meters) at least once every 13 months £40 (£80 for each subsequent 13-month period) £40 (£80 for each subsequent 13-month period)
    Moving to Measured Charging Supply of Water 1 Oct The water company must (subject to some exceptions) install a water meter upon request and then begin to charge the customer on the basis of the volume of water used.

    If the company fails to do this within the relevant time, the water company must pay the customer.

    Payment equivalent to charges payable in the period from the date that charging by volume should have started until meter fitted and charging by volume begins. N/A
    Water Quality Notices 1 Oct Payment is to be made to a customer if a water quality notice is served and supply is not restored by the end of a 48-hour period.

    If a notice is in place for longer than 48 hours, £40 plus £20 per additional 24 hours that the notice is in place, up to a maximum of the customer’s annual water supply (not including sewerage services) bill If a notice is in place for longer than 48 hours, £60 plus £40 per additional 24 hours that the notice is in place, up to a maximum of the customer’s annual water supply (not including sewerage services) bill
    Indexation 2 July The payment amounts will increase in line with the consumer price index when this increases by 10% (using September 2025 as the baseline) and rounded to the nearest £5

    Updates to this page

    Published 2 July 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Council working with local accommodation providers to explore ways to support and manage effects tourism

    Source: City of Oxford

    Published: Wednesday, 2 July 2025

    Oxford City Council is facilitating work with accommodation providers – including hotels and colleges – to explore how the city can better manage the effects of tourism while ensuring it remains a vibrant and popular place for residents and visitors.  

    Following an initial feasibility study and an independent report from The Mosaic Partnership in 2024, the Council now plans to appoint a consultant to help set up two task groups to explore the different options for the sector.  

    Supporting the next stage of this work could help identify projects and potential funding streams, including whether an Accommodation Business Improvement District (ABID) is appropriate and supported.  

    An ABID is not a tourist tax. Unlike models used in other countries, an ABID is a business-led initiative where accommodation providers decide whether to establish it and how the funds are spent. The levy is collected under Business Improvement District legislation, and funds would be controlled by the ABID board, not Oxford City Council or any other statutory or government body. 

    Initial research suggests that an ABID could unlock up to £10 million for additional projects, depending on criteria set by the task groups. 

    The Council will facilitate the next stage of the project with funding from the UK Shared Prosperity Fund (UKSPF), however it will have no say in whether any option is pursued, the final decision or how any money could be spent. 

    Comment  

    “Oxford’s accommodation sector plays a vital role in our city’s economy. Supporting the next stage of this project will give them the opportunity to shape projects and funding streams that work for them. 

    “This is a business-led initiative, and ultimately it will be up to accommodation providers whether to move forward or not, but it has the potential to unlock a lot of money to support them and make improvements that will benefit everyone.” 

    Councillor Alex Hollingsworth, Cabinet Member for Planning and Culture  

    MIL OSI United Kingdom

  • Indian pharma exports strong at $4.9 billion in April-May, says Pharmexcil

    Source: Government of India

    Source: Government of India (4)

    Pharmaceutical exports in India stood strong at $4.9 billion in April-May FY26, according to the latest update by the Pharmaceuticals Export Promotion Council of India (Pharmexcil).

    Pharmexcil is an authorised export promotion agency under the Commerce and Industry Ministry.

    The data showed that the sector has made a 7.38 per cent expansion compared with the same period last year. This indicates that the industry is continuing with its upward trajectory and marking a significant presence globally.

    This growth is due to “strategic initiatives focused on sustainable manufacturing, expanded global market presence, and digital innovation,” Pharmexcil said, adding that the efforts may bolster India’s ambitious goal of achieving a trillion-dollar trade target for its pharma industry.

    “India’s pharmaceutical exports continue to demonstrate a steady year-over-year growth, with drug formulations and biologicals continuing to dominate the export category,” Namit Joshi, chairman of Pharmexcil, was quoted as saying in a media report.

    “We attribute this growth to rising global demand, streamlined regulatory approvals, technological innovations, strategic partnerships, and economic stability,” Joshi added.

    Notably, formulations and biologicals accounted for 75.74 per cent of the total of the pharma exports. Bulk drugs and drug intermediates also expanded by 4.40 per cent in May.

    Vaccine exports saw a 13.64 per cent increase and reached $190.13 million, while surgical items (up 8.58 per cent) and Ayush and herbal products (up 7.36 per cent) also saw healthy growth.

    According to Pharmexcil, about 76 per cent of India’s pharmaceutical export destinations include the North American Free Trade Agreement (NAFTA) region, as well as Europe, Africa, and Latin America.

    However, the US remains the top destination. In May, exports to the country were valued at $1.7 billion in May — representing 34.5 per cent of total pharma exports and a 1.5 per cent expansion.

    While Europe and Africa saw moderate growth, the ASEAN region emerged as a newly contracted area.

    According to Joshi, the India-UK Free Trade Agreement (FTA) discussions showed it will significantly enhance supply chains and improve access to affordable medicines. It will also attract foreign direct investment, particularly in contract development and manufacturing (CDMO) and joint research.

    (IANS)

  • Indian pharma exports strong at $4.9 billion in April-May, says Pharmexcil

    Source: Government of India

    Source: Government of India (4)

    Pharmaceutical exports in India stood strong at $4.9 billion in April-May FY26, according to the latest update by the Pharmaceuticals Export Promotion Council of India (Pharmexcil).

    Pharmexcil is an authorised export promotion agency under the Commerce and Industry Ministry.

    The data showed that the sector has made a 7.38 per cent expansion compared with the same period last year. This indicates that the industry is continuing with its upward trajectory and marking a significant presence globally.

    This growth is due to “strategic initiatives focused on sustainable manufacturing, expanded global market presence, and digital innovation,” Pharmexcil said, adding that the efforts may bolster India’s ambitious goal of achieving a trillion-dollar trade target for its pharma industry.

    “India’s pharmaceutical exports continue to demonstrate a steady year-over-year growth, with drug formulations and biologicals continuing to dominate the export category,” Namit Joshi, chairman of Pharmexcil, was quoted as saying in a media report.

    “We attribute this growth to rising global demand, streamlined regulatory approvals, technological innovations, strategic partnerships, and economic stability,” Joshi added.

    Notably, formulations and biologicals accounted for 75.74 per cent of the total of the pharma exports. Bulk drugs and drug intermediates also expanded by 4.40 per cent in May.

    Vaccine exports saw a 13.64 per cent increase and reached $190.13 million, while surgical items (up 8.58 per cent) and Ayush and herbal products (up 7.36 per cent) also saw healthy growth.

    According to Pharmexcil, about 76 per cent of India’s pharmaceutical export destinations include the North American Free Trade Agreement (NAFTA) region, as well as Europe, Africa, and Latin America.

    However, the US remains the top destination. In May, exports to the country were valued at $1.7 billion in May — representing 34.5 per cent of total pharma exports and a 1.5 per cent expansion.

    While Europe and Africa saw moderate growth, the ASEAN region emerged as a newly contracted area.

    According to Joshi, the India-UK Free Trade Agreement (FTA) discussions showed it will significantly enhance supply chains and improve access to affordable medicines. It will also attract foreign direct investment, particularly in contract development and manufacturing (CDMO) and joint research.

    (IANS)

  • MIL-OSI Africa: Oman Egypt Joint Committee meets in Cairo


    Download logo

    The 16th session of the Omani-Egyptian Joint Committee was held in Cairo at the level of the two countries’ foreign ministers.

    The Omani delegation was chaired by Sayyid Badr Albusaidi, Foreign Minister while the Egyptian side was chaired by Dr Badr Abdelatty, Minister of Foreign Affairs of the Arab Republic of Egypt.

    In his speech during the opening session, Sayyid Badr expressed his deep gratitude to the Egyptian delegation for their warm welcome and hospitality. He emphasised the profound historical ties and enduring bonds between Oman and Egypt, adding: “This session of the Omani-Egyptian Joint Committee is yet another blessed addition to the record of our positive cooperation, reinforcing the deep-rooted ties that have been shaped and distinguished throughout history. Today, we reap the fruits of these relations for the benefit of our two brotherly nations.”

    The Minister highlighted the significant progress in economic relations between the two countries, stressing the importance of enhancing investment partnerships in real estate, tourism, renewable energy, manufacturing, logistics, food security, and pharmaceutical industries.

    He called for activating the role of the Omani-Egyptian Business Council and the private sector, as well as focusing on startups, digital transformation, and innovation, affirming that “this would enhance economic sustainability and keep pace with global developments.”

    On regional issues, the Foreign Minister reiterated Oman’s full support for Egypt’s efforts to achieve a ceasefire in the Gaza Strip, firmly rejecting plans to displace the Palestinian people and endorsing the Arab initiative for Gaza’s reconstruction. He reaffirmed Oman’s steadfast stance in supporting the establishment of an independent Palestinian state based on the  borders of June 4, 1967, with East Jerusalem as its capital, in accordance with international legitimacy and the Arab Peace Initiative.

    He also emphasised that “Arab national security is indivisible,” expressing Oman’s support for Egypt’s rights to the Nile River waters based on international law and the principle of fair and equitable use, fostering cooperation through mutual understanding and peaceful solutions.

    Sayyid Badr stressed Oman’s commitment to contributing to regional stability and shielding the peoples of the region from obstacles to development. He underscored the importance of resuming efforts to reach a just and lasting agreement on the Iranian nuclear issue, based on international law and the Non-Proliferation Treaty, while rejecting solutions imposed by force, which only lead to destruction and instability. He affirmed that dialogue and negotiation remain the only path to resolving disputes and mitigating risks.

    He praised the efforts of senior officials from both Oman and Egypt in preparing for the session, expressing hope that its outcomes would “serve as a qualitative addition to strengthening cooperation and fulfilling the aspirations of the two countries’ leaderships and peoples.”

    Dr Badr Abdelatty commended the depth of Egyptian-Omani relations and their tangible progress under the guidance of both countries’ leaderships, who seek to elevate cooperation to wider horizons.

    He noted that the current session reflects the shared commitment to building on the outcomes of the mutual visits by the two countries’ leaders. He pointed out that discussions with his Omani counterpart explored ways to enhance economic, trade, and investment relations. Politically, he praised the depth and alignment of views on regional issues and their peaceful resolution.

    The session included the signing of several memoranda of understanding and executive programmes in investment, labour, training, media cooperation, food safety, endowments, mineral resources, and human capital development, along with the minutes of the 16th session of the Omani-Egyptian Joint Committee.

    The session concluded with both sides stressing the importance of continued coordination and consultation across various fields, strengthening the Omani-Egyptian partnership for the mutual benefit of the two nations and their peoples, and contributing to regional security, stability, and development.

    Distributed by APO Group on behalf of Foreign Ministry of Oman.

    MIL OSI Africa

  • MIL-OSI Africa: Oman and Egypt hold joint press conference


    Download logo

    Oman’s Foreign Minister, Sayyid Badr Albusaidi, Foreign Minister and Dr Badr Abdelatty, Minister of Foreign Affairs of the Arab Republic of Egypt, held a joint press conference  marking the conclusion of the 16th session of the Omani-Egyptian Joint Committee in Cairo.

    During the press conference, Sayyid Badr expressed full alignment with his Egyptian counterpart regarding Omani-Egyptian cooperation matters and both countries’ positions on regional issues. He noted both countries’ commitment to enhancing trade, strengthening the role of the Business Council, and increasing mutual investments, while praising the contributions of the Egyptian community to Oman’s development.

    On regional matters, he emphasised Oman’s support for Egypt’s efforts to halt the aggression on Gaza, reject forced displacement attempts, and adhere to the two-state solution leading to an independent Palestinian state.

    Sayyid Badr reiterated Oman’s support for Egypt’s position on the Renaissance Dam issue, stressing the importance of respecting Arab states’ sovereignty and territorial integrity while rejecting all forms of foreign interference in their internal affairs.

    He also stated that resuming negotiations on the Iranian nuclear issue is essential for regional stability, underscoring the importance of confidence-building measures to avoid escalation and to reach a fair, consensual solution to this issue while focusing efforts on regional development and cooperation.

    Distributed by APO Group on behalf of Foreign Ministry of Oman.

    MIL OSI Africa

  • MIL-OSI Asia-Pac: President Lai meets delegation from 2025 Taiwan International Ocean Forum

    Source: Republic of China Taiwan

    Details
    2025-06-30
    President Lai meets Minister of State at UK Department for Business and Trade Douglas Alexander  
    On the morning of June 30, President Lai Ching-te met with Douglas Alexander, Minister of State at the Department for Business and Trade of the United Kingdom. In remarks, President Lai thanked the UK government for its longstanding support for peace and stability across the Taiwan Strait. Noting that two years ago, Taiwan and the UK signed an enhanced trade partnership (ETP) arrangement, the president said that today Taiwan and the UK have signed three pillars under the ETP, which will help promote bilateral economic and trade cooperation. He expressed hope of the UK publicly supporting Taiwan’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) so that together we can create an economic and trade landscape in the Indo-Pacific characterized by shared prosperity and development. A translation of President Lai’s remarks follows: First, on behalf of the people of Taiwan, I extend a warm welcome to Minister Alexander and wish a fruitful outcome for the 27th round of Taiwan-UK trade talks later today. Taiwan-UK relations have grown closer in recent years. We have not only continued to strengthen cooperation in such fields as offshore wind power, innovative technologies, and culture and education but also have established regular dialogue mechanisms in the critical areas of economics and trade, energy, and agriculture. The UK is currently Taiwan’s fourth-largest European trading partner, second-largest source of investment from Europe, and third-largest target for investment in Europe. Two years ago, Taiwan and the UK signed an ETP arrangement. This was particularly meaningful, as it was the first institutionalized economic and trade framework between Taiwan and a European country. Today, this arrangement is yielding further results. I am delighted that Taiwan and the UK have signed three pillars under the ETP covering investment, digital trade, and energy and net-zero. This will help promote bilateral economic and trade cooperation and advance industrial development on both sides. I also want to thank the UK government for its longstanding support for peace and stability across the Taiwan Strait. This month, the UK published its Strategic Defence Review 2025 and National Security Strategy 2025, which oppose any unilateral attempts to change the status quo across the Taiwan Strait. These not only demonstrate that Taiwan and the UK share similar goals but also show that security and prosperity in the Indo-Pacific region are inseparable from those of the transatlantic regions. In addition, last November, the House of Commons passed a motion which made clear that United Nations General Assembly (UNGA) Resolution 2758 neither established the sovereignty of the People’s Republic of China over Taiwan nor determined Taiwan’s status in the United Nations. The UK government also responded to the motion by publicly expressing for the first time its position on UNGA Resolution 2758, opposing any attempt to broaden the interpretation of the resolution to rewrite history. For this, on behalf of the people of Taiwan, I once again want to extend my deepest gratitude. Taiwan and the UK have the advantage of being highly complementary in the technology sector. In facing the restructuring of global supply chains and other international economic and trade developments, I believe that Taiwan and the UK are indispensable key partners for one another. I look forward to the UK publicly supporting Taiwan’s accession to the CPTPP so that together, we can create an economic and trade landscape in the Indo-Pacific characterized by shared prosperity and development. In closing, I wish Minister Alexander a pleasant and successful visit. And I hope he has the opportunity to visit Taiwan for personal travel in the future. Minister Alexander then delivered remarks, saying that it is a great personal honor to meet with everyone today to discuss further deepening the UK-Taiwan trade relationship and explore the many opportunities our two sides can pursue together. He mentioned that he traveled to Taiwan in 2022 when he was a private citizen, a visit he thoroughly enjoyed, so he is delighted to be back to see the strength of the UK-Taiwan relationship and the strengthening of that relationship. He said that relationship is built on mutual respect, democratic values, and a shared vision for open, resilient, and rules-based economic cooperation. As like-minded partners, he pointed out, our collaboration continues to grow across multiple sectors, and he is here today to further that momentum. Minister Alexander stated that on trade and investment, he is proud that this morning we signed the ETP Pillars on Investment, Digital Trade, Energy and Net Zero, which will provide a clear framework for our future cooperation and lay the foundation for expanded access and market-shaping engagement between our two economies. The minister said he believes that together with our annual trade talks, this partnership will help UK’s firms secure new commercial opportunities, improve regulatory alignment, and promote long-term investment in key growth areas, which in turn will also support Taiwan’s efforts to expand high-quality trade relationships with trusted partners. Minister Alexander said that President Lai’s promotion of the Five Trusted Industry Sectors and the UK’s recently published industrial and trade strategies are very well-aligned, as both cover clean energy and semiconductors as well as advanced manufacturing. He then provided an example, saying that both sides plan to invest in AI infrastructure and compute power-creating opportunities for great joint research in the future. By combining our strengths in these areas, he said, we can open the door to innovative collaboration and commercial success for both sides. He mentioned that yesterday he visited the Taiwan Space Agency, commenting that in sectors such as satellite technology, green energy, and cyber security, British expertise and trusted standards can provide meaningful solutions. Noting that President Lai spoke in his remarks of the broader challenge of peace and security in the region, Minister Alexander stated that the United Kingdom has, of course, also continued to affirm its commitment to peace and stability in the Taiwan Strait, along with its G7 partners. The UK-Taiwan relationship is strategic, enduring, and growing, he stated, and they reaffirm and remain firm in their longstanding position and confident in their ability to work together to support both prosperity and resilience in both of our societies. Minister Alexander said that, as Taiwan looks to diversify capital and build global partnerships, they believe the UK represents a strong and ambitious investment destination, particularly for Taiwanese companies at the very forefront of robotics, clean tech, and advanced industry. He pointed out that the UK’s markets are stable, open, and aligned with Taiwan’s vision of a high-tech, sustainable future, adding that he looks forward to our discussion on how we can further deepen our cooperation across all of these areas and more. The delegation also included Martin Kent, His Majesty’s Trade Commissioner for Asia Pacific at the UK Department for Business and Trade. The delegation was accompanied to the Presidential Office by British Office Taipei Representative Ruth Bradley-Jones.   

    Details
    2025-06-27
    President Lai confers decoration on former Japan-Taiwan Exchange Association Chairman Ohashi Mitsuo
    On the morning of June 27, President Lai Ching-te conferred the Order of Brilliant Star with Grand Cordon upon former Chairman of the Japan-Taiwan Exchange Association Ohashi Mitsuo in recognition of his firm convictions and tireless efforts in promoting Taiwan-Japan exchanges. In remarks, President Lai stated that Chairman Ohashi cares for Taiwan like a family member, and expressed hope that Taiwan and Japan continue to deepen their partnership, bring about the early signing of an economic partnership agreement (EPA), and jointly build secure and stable non-red supply chains as we boost the resilience and competitiveness of our economies and jointly safeguard the values of freedom and democracy. A translation of President Lai’s remarks follows: Every meeting I have with Chairman Ohashi, with whom I have worked side by side for many years, is warm and friendly. I recall that when we met last year, Chairman Ohashi said that he often thinks about what Japan can do for Taiwan and what Taiwan can do for Japan, and that it is that mutual concern that makes us so close. This was a truly moving statement illustrating the relationship between Taiwan and Japan. Chairman Ohashi has also said numerous times that our bilateral relations may very well be the best in the entire world, and that in fact they may serve as a model to other countries. Indeed, Chairman Ohashi is himself an exemplary model for friendly relations between Taiwan and Japan. His spirit of always working tirelessly to promote Taiwan-Japan exchanges is truly admirable. Assuming the position of chairman of the Japan-Taiwan Exchange Association in 2011, he served during the terms of former Presidents Ma Ying-jeou and Tsai Ing-wen, continuously making positive contributions to Taiwan-Japan relations. Over these past 14 years, Taiwan and Japan have signed over 50 major agreements, spanning the economy and trade, fisheries, and taxes, among other areas. In 2017, the Taiwan-Japan Relations Association and the Japan-Taiwan Exchange Association underwent name changes, strengthening the essence and significance of Taiwan-Japan relations. These great achievements were all made possible thanks to the firm convictions and tireless efforts of Chairman Ohashi. On behalf of the people of Taiwan, I am delighted to confer upon Chairman Ohashi the Order of Brilliant Star with Grand Cordon to express our deepest thanks for his outstanding contributions. Chairman Ohashi is not just a good friend of Taiwan, but someone who cares for Taiwan like a family member. When a major earthquake struck in 2016, he personally went to Tainan to assess the situation and meet with the city government. This outpouring of friendship and support across borders was deeply moving. As we look to the future, I hope that Taiwan and Japan can continue to deepen our partnership. In addition to bringing about the early signing of an EPA, I also hope that we can expand collaboration in key areas such as semiconductors, energy, and AI, continue building secure and stable non-red supply chains, and boost the resilience and competitiveness of our economies as well as peace and stability in the Indo-Pacific. As Chairman Ohashi has said, the close bilateral relationship between Taiwan and Japan is one the world can be proud of. I would like to thank him once again for his contributions to deepening Taiwan-Japan ties. Taiwan will continue to forge ahead side by side with Japan, jointly safeguarding the values of freedom and democracy and mutually advancing prosperous development. I wish Chairman Ohashi good health, happiness, peace, and success in his future endeavors, and invite him to return to Taiwan often to visit old friends. Chairman Ohashi then delivered remarks, first thanking President Lai for his kind words. He stated that the Taiwan-Japan relationship is not only worthy of praise; it can also serve as a superb model in the world for bilateral relations that is worthy of study by other countries. He added that this is the result of the collective efforts of President Lai as well as many other individuals. Chairman Ohashi said that the current international situation is rather severe, with wars and conflicts occurring between many neighboring countries. He said that there is a growing trend of nuclear weapon proliferation, emphasizing that use of such weapons would cause significant harm between nations. He also pointed out that some countries even use nuclear weapons as a threat, leading to instability and impacting the global situation. Chairman Ohashi said that neither Taiwan nor Japan possesses nuclear weapons, which is something to be proud of. That is why, he said, we can declare that a world without nuclear weapons is a peaceful world. He also mentioned that during his tenure as chairman of the Japan-Taiwan Exchange Association, he consistently upheld this principle in his work. Chairman Ohashi said that the mission of the World Federalist Movement (WFM) is to promote world peace. He said that the WFM has branches in countries worldwide, with the WFM of Japan being one of the most prominent, and that it also aspires to achieve the goal of world peace. Having served as chairman of the Japan-Taiwan Exchange Association for 14 years, he said, he is now stepping down from this role and will serve as the chairman of the WFM of Japan, aiming to promote peace in countries around the world. Chairman Ohashi said that both Taiwan and Japan can take pride in our friendly bilateral relationship, emphasizing that if the good relationship between Japan and Taiwan could be offered as an example to countries around the world, there would be no more wars. He expressed his sincere hope that under President Lai’s leadership, Taiwan and Japan can work together to jointly promote world peace. Also in attendance at the ceremony was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-06-25
    President Lai meets Japan’s former Economic Security Minister Kobayashi Takayuki
    On the afternoon of June 25, President Lai Ching-te met with Kobayashi Takayuki, Japan’s former economic security minister and a current member of the House of Representatives. In remarks, President Lai expressed hope to combine the strengths of the democratic community to build resilient, reliable non-red supply chains, and ensure a resilient global economy and sustainable development. He also expressed hope that Taiwan and Japan can bring about the early signing of an economic partnership agreement (EPA), and that Japan will continue supporting Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), enhancing our own bilateral partnership, as doing so would create win-win situations and further contribute to regional economic security and stability. The following is a translation of President Lai’s remarks: I welcome Representative Kobayashi back to Taiwan for another visit after seven years. During his last visit, he was with a delegation from the Liberal Democratic Party (LDP) Youth Division, and we met at the Executive Yuan. I am very happy to see him again today. Representative Kobayashi has long paid close attention to matters involving economic security, technological innovation, and aerospace policy. He also made a stunning debut in last year’s LDP presidential election, showing that he is truly a rising star and an influential figure in the political sphere. With this visit, Representative Kobayashi is demonstrating support for Taiwan with concrete action, which is very meaningful. Taiwan and Japan are both part of the first island chain’s key line of defense. We thank the many Japanese prime ministers, including former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as current Prime Minister Ishiba Shigeru, for the many times they have highlighted the importance of peace and stability in the Taiwan Strait at important international venues, and for expressing opposition to the use of force or coercion to unilaterally change the status quo in the Taiwan Strait. I hope that Taiwan and Japan can engage in more cooperation and exchanges to promote peace and prosperity in the Indo-Pacific region in all aspects. In particular, China in recent years has been actively expanding its red supply chains, which threaten the global free trade system and advanced technology markets. Taiwan hopes to combine the strengths of the democratic community to build resilient, reliable non-red supply chains. In the semiconductor industry, for example, Taiwan has excellent advanced manufacturing capabilities, while Japan plays an important role in materials, equipment, and key technologies. I am confident that, given the experience that Taiwan and Japan have in cooperating, we can build an industrial supply chain composed of democratic nations to ensure a resilient global economy and sustainable development. I hope that Taiwan and Japan can bring about the early signing of an EPA in order to deepen our bilateral trade and investment exchanges and cooperation. I also hope that Japan will continue supporting Taiwan’s bid to join the CPTPP, enhancing our own bilateral partnership, as doing so would create win-win situations and further contribute to regional economic security and stability. Taiwan and Japan are democratic partners that share the values of freedom, democracy, and respect for human rights. I firmly believe that so long as we work together, we can certainly address the challenges posed by authoritarianism, and bring prosperity and development to the Indo-Pacific region. In closing, I welcome Representative Kobayashi once again. I am certain that this visit will help enhance Taiwan-Japan exchanges and deepen our friendship. Representative Kobayashi then delivered remarks, first thanking President Lai for taking the time to meet with him, and noting that this was his second visit to Taiwan following a trip seven years prior, when he came with his good friend from college and then-Director of the LDP Youth Division Suzuki Keisuke, now Japan’s minister of justice. Representative Kobayashi mentioned a Japanese kanji that he is very fond of – 絆 (kizuna) – which means “deep ties of friendship.” He emphasized that a key purpose of this visit to Taiwan was to reiterate the deep ties of friendship between Taiwan and Japan. In addition to deep historical ties, he said, Taiwan and Japan also enjoy a like-minded partnership in terms of economic, personnel, and friendship-oriented exchanges. He went on to say that at the strategic level, Taiwan and Japan also have deep ties of friendship, and that for Japan, it is strategically important that Taiwan not be isolated under any circumstances. Representative Kobayashi emphasized that cooperation between Taiwan and Japan, and even cooperation among Taiwan, Japan, and the United States, are more important now than ever, and that another important focus of this visit is the non-red supply chains referred to earlier by President Lai. He said that as Japan’s first economic security minister and the person currently in charge of the LDP’s policy on economic security, he is acutely aware of the important impact of economic security on national interests, and therefore looks forward to further exchanging views regarding Taiwan’s concrete steps to build non-red supply chains. The delegation was accompanied to the Presidential Office by Japan-Taiwan Exchange Association Deputy Representative Takaba Yo.

    Details
    2025-06-16
    President Lai meets delegation led by Representative Bera, co-chair of US Congressional Taiwan Caucus
    On the morning of June 16, President Lai Ching-te met with a delegation led by Representative Ami Bera, co-chair of the US Congressional Taiwan Caucus. In remarks, President Lai thanked the representatives in Congress for actively voicing support for Taiwan and proposing numerous Taiwan-friendly initiatives to strengthen Taiwan-US ties, helping expand Taiwan’s international space and continuing to place focus on peace and stability across the Taiwan Strait. The president said that we will continue to strengthen bilateral investment and industrial cooperation and create a more comprehensive environment for economic and trade exchanges to jointly enhance economic and developmental resilience. A translation of President Lai’s remarks follows: I am delighted to meet with the delegation and welcome Congressman Bera back to the Presidential Office. Last January, he visited after the presidential election, demonstrating the steadfast backing of the US Congress for democratic Taiwan. This time, as head of a delegation of new members of the House Armed Services Committee and the Foreign Affairs Committee, he is continuing to foster US congressional support for Taiwan. On behalf of the people of Taiwan, I extend a sincere welcome to Congressman Bera and all our esteemed guests. Over the years, staunch bipartisan US congressional backing of Taiwan has been a key force for steadily advancing our bilateral relations. I thank the representatives in Congress for actively voicing support for Taiwan and proposing numerous Taiwan-friendly initiatives, thereby strengthening Taiwan-US ties, helping expand Taiwan’s international space, and continuing to place focus on peace and stability across the Taiwan Strait. I want to emphasize that Taiwan has an unwavering determination to safeguard peace and stability in the Indo-Pacific region. Over the past year, the government and private sector have been working together to enhance Taiwan’s whole-of-society defense resilience and accelerate reform of national defense. The government is also prioritizing special budget allocations to ensure that our defense budget exceeds three percent of GDP this year. I hope that Taiwan-US security cooperation will evolve beyond military procurement to a partnership that encompasses joint research and development and joint production, further strengthening cooperation and exchange in the defense industry. Regarding industrial exchanges, last month, Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Minister of Economic Affairs Kuo Jyh-huei (郭智輝) each visited Texas to see firsthand Taiwan-US collaboration in AI and semiconductors. And the delegation led by Executive Yuan Secretary-General Kung Ming-hsin (龔明鑫) sent by Taiwan to this year’s SelectUSA Investment Summit in Washington, DC, was again the largest of those attending. All of this demonstrates Taiwan’s commitment to working alongside the US to create mutual prosperity. In the future, we will continue to strengthen bilateral investment and industrial cooperation. And I hope that the legislation addressing the issue of Taiwan-US double taxation will become law this year. I want to thank Congressman Bera for co-leading a joint letter last November signed by over 100 members of Congress calling for such legislation. I believe that by creating a more comprehensive environment for economic and trade exchanges, Taiwan and the US can enhance economic and developmental resilience. In closing, I thank you all for making the long journey here to advance Taiwan-US relations. Let us continue working together to promote the prosperous development of this important partnership. Congressman Bera then delivered remarks, saying that on behalf of the delegation, it is an honor for him to be here once again, it being last January that he and Congressman Mario Díaz-Balart visited and congratulated President Lai on his election victory, noting that theirs was the first congressional delegation to do so. Congressman Bera said that this is an important time, not just for the US and Taiwan relationship, but for all relationships around the world. When we look at conflicts in Europe and in the Middle East, he said, it is incumbent upon democracies to hold the peace in Asia. He emphasized that is why it is important for them to bring a delegation of members of the Foreign Affairs Committee and the Armed Services Committee, adding that he believes for all of them it is their first trip to Taiwan.  Congressman Bera said that while this is a delegation of Democratic members of Congress, in a bipartisan way all of Congress continues to support the people of Taiwan. As such, in this visit he brings support from his co-chairs on the Taiwan caucus, Congressman Díaz-Balart and Congressman Andy Barr. He also took a moment to recognize the passing of Congressman Gerald Connolly, who was a longtime friend of Taiwan and one of their co-chairs on the caucus. Congressman Bera mentioned that there is always a special bond between himself and President Lai because they are both doctors, and as doctors, their profession is about healing, keeping the peace, and making sure everybody has a bright, prosperous future. In closing, he highlighted that it is in that spirit that their delegation visits with the president. The delegation also included members of the US Congress Gabe Amo, Wesley Bell, Julie Johnson, Sarah McBride, and Johnny Olszewski.

    Details
    2025-06-13
    President Lai meets delegation led by French National Assembly Taiwan Friendship Group Chair Marie-Noëlle Battistel
    On the morning of June 12, President Lai Ching-te met a delegation led by Marie-Noëlle Battistel, chair of the French National Assembly’s Taiwan Friendship Group. In remarks, President Lai thanked the National Assembly for its long-term support for Taiwan’s international participation and for upholding security in the Taiwan Strait, helping make France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. The president also said that exchanges and cooperation between Taiwan and France are becoming more frequent, and that he hopes this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations and help build closer partnerships in the economy, trade, energy, and digital security.  A translation of President Lai’s remarks follows: First, I would like to welcome Chair Battistel, who is once again leading a visiting delegation. Last year, Chair Battistel co-led a delegation to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao. This is her fourth visit, and first as chair of the Taiwan Friendship Group, which makes it especially meaningful. This delegation’s visit demonstrates strong support for Taiwan, and on behalf of the people of Taiwan, I want to express my sincerest welcome and thanks. France is a pioneer in promoting free and democratic values. These are values that Taiwan cherishes and is working hard to defend. I want to express gratitude to the French Parliament for their long-term support for Taiwan’s international participation, and for upholding security in the Taiwan Strait. The French Parliament’s two chambers have continued to strongly support Taiwan, with the passage of a resolution supporting Taiwan’s participation in international organizations in 2021, as well as the passage of the seven-year Military Programming Law in 2023. This has made France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. Through it all, the Taiwan Friendship Group has played a key role, and I want to thank all of our distinguished guests for their efforts. Over the past few years, Taiwan and France have continued to deepen cooperation in areas including the economy, technology, culture, and sports. At the Choose France summit held in Paris last month, Taiwanese and French enterprises also announced they will launch cooperation in the semiconductor and satellite fields. The VivaTech startup exhibition, now being held in France, also has many Taiwanese vendors participating. Exchanges and cooperation between Taiwan and France, whether official or people-to-people, are becoming more and more frequent. I hope that this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations, building closer partnerships in the economy, trade, energy, and digital security.  To address current geopolitical and economic challenges, Taiwan will continue to join forces with France and other like-minded countries to jointly safeguard peace and stability in the Indo-Pacific region, and contribute our concerted efforts to global prosperity and development. Once again, I want to welcome our visitors to Taiwan. I hope to continue our joint efforts to create a more prosperous future for both Taiwan and France.   Chair Battistel then delivered remarks, thanking President Lai for extending this invitation. Last year on May 20, she said, she and her delegation attended the presidential inauguration ceremony, so she was delighted to visit Taiwan once again with the French National Assembly’s Taiwan Friendship Group and bear witness to their friendship with Taiwan. Chair Battistel noted that this visit has given them an opportunity to strengthen Taiwan-France relations in areas including the economy, culture, the humanities, and diplomacy, and conduct exchanges with numerous heads of government agencies and research institutes. It has also been an opportunity, she said, to witness the importance of exchanges and cooperation with Taiwan in areas including energy, semiconductors, youth, and culture, and the impact created by important issues of mutual concern, including AI and disinformation, on the security of many countries. Chair Battistel praised Taiwan for its youth development efforts, and said that under the Taiwan Global Pathfinders Initiative, 30 Taiwanese young people have embarked on a visit to France, with itineraries including the United Nations Ocean Conference and the VivaTech exhibition, as well as the city of Toulouse, which is strategically important for the aerospace industry. Members of the group are also conducting exchanges at the French National Assembly, she said.  Chair Battistel stated that the Taiwan-France partnership is growing closer, and that she hopes to continue to strengthen bilateral exchanges and cooperation, as supporting peace for Taiwan supports peace around the world.  The delegation also included Taiwan Friendship Group Vice Chair Éric Martineau, as well as National Assembly Committee on Foreign Affairs Vice Chair Laetitia Saint-Paul and Deputies Marie-José Allemand and Claudia Rouaux. The delegation was accompanied to the Presidential Office by French Office in Taipei Deputy Director Cléa Le Cardeur.

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

    MIL OSI Asia Pacific News

  • MPEDA hosts inaugural National Skill Olympiad to boost seafood value addition

    Source: Government of India

    Source: Government of India (4)

    The Marine Products Export Development Authority (MPEDA), under the Ministry of Commerce & Industry, successfully on Tuesday held the grand finale of its first-ever National Skill Olympiad on seafood value addition at the Seafood Expo Bharat in Chennai. The initiative aims to foster a skilled workforce and promote innovation in value-added seafood exports.

    Emerging victorious in the closely contested final was Thanseer K R of Abad Foods, Malipuram, Kerala. The awards were presented by Member of Parliament and MPEDA Authority Member Hibi George Eden D. V. Swamy, Chairman of MPEDA.

    The Olympiad, a pioneering effort by MPEDA, saw participation from trained seafood processing professionals from both the East and West coasts of India. Preliminary rounds were held in Kochi on May 29 and in Visakhapatnam on June 5, with the top ten candidates advancing to the semi-finals on June 30. From there, four finalists were selected for the finale.

    The final round featured professionals from across the country competing on aspects such as quality, hygiene, execution, and presentation. Balamurugan I from Edhayam Frozen Foods Pvt Ltd, Tuticorin, Tamil Nadu secured second place, while Sandya Rani Palaparthi of Coastal Cooperation Ltd, Kakinada, Andhra Pradesh came third. D. Anitha, also from Kakinada, representing Sandhya Aqua Exports Pvt Ltd, finished fourth.

    Prize money of ₹1,00,000 was awarded to the winner, followed by ₹75,000 and ₹50,000 for second and third place respectively. The fourth-place finalist received a consolation prize of ₹25,000. All participants were also honoured with medals and certificates.

    Speaking at the event, Hibi Eden lauded MPEDA’s innovative approach in organizing the Olympiad and emphasized its role in advancing India’s seafood export industry. Chairman Shri D. V. Swamy highlighted the Olympiad’s contribution toward making India a global hub for value-added seafood and announced plans to make the event an annual feature in MPEDA’s calendar.

    The finale drew participation from a wide range of stakeholders, including officials from Central and State fisheries departments, seafood exporters, foreign buyers, and delegates of the ongoing Seafood Expo Bharat 2025.

    In addition to the competition, seafood products crafted by the finalists were showcased for public viewing, accompanied by a live tasting session at the MPEDA Skill Olympiad pavilion, giving attendees a direct experience of the culinary excellence and processing expertise on display.

  • MIL-OSI: Equinor ASA: Completed share capital reduction

    Source: GlobeNewswire (MIL-OSI)

    On 14 May 2025, the annual general meeting in Equinor ASA (OSE: EQNR, NYSE: EQNR) decided that the company’s share capital shall be reduced by NOK 589,934,295 from NOK 6,981,953,075 to NOK 6,392,018,780, through cancellation and redemption of a total of 235,973,718 shares.

    The creditor deadline for the capital reduction has expired and the capital reduction was registered effective with the Norwegian Register of Business Enterprises today, 2 July 2025.

    Following completion of the capital reduction the share capital of the company is NOK 6,392,018,780 divided into 2,556,807,512 shares of NOK 2.50 each.

    This information is subject to the disclosure requirements pursuant to Euronext Oslo Børs Rulebook II section 4.2.5.5 and Section 5-12 of the Norwegian Securities Trading Act.

    Contact persons:

    Investor relations:
    Bård Glad Pedersen, Senior vice president Investor Relations,
    +47 918 01 791

    Media relations:
    Sissel Rinde, Vice president Media Relations,
    +47 412 60 584

    The MIL Network

  • MIL-OSI Economics: John C Williams: The totality of the data

    Source: Bank for International Settlements

    Hello, everyone. I’m so pleased to be here today.

    One of the most enjoyable parts of my job is meeting with business and community leaders to learn more about our local economies-their challenges and opportunities, their long-established businesses and new industries. It’s fitting that I started my visit in Schenectady, known as “The City that Lights and Hauls the World.” And now I’m here at the Albany NanoTech Complex, a hub for innovative, cutting-edge nanotechnologies. Both cities, just 20 miles apart, have made-and continue to make-important contributions to our regional and national economies.

    I’ll talk a bit about that today, although my focus will be on the U.S. economy. I’ll discuss what the soft and hard data are telling us, and how the totality of the data is informing my outlook for the economy.

    Before I go further, I must give the standard Fed disclaimer that the views I express today are mine alone and do not necessarily reflect those of the Federal Open Market Committee (FOMC) or others in the Federal Reserve System.

    The Capital Region

    As an economist and student of history, I can’t help but start with a few words about the Capital Region. In the 1880s, when Thomas Edison created components for his electrical illumination system and the Schenectady Locomotive Works built engines, few could have imagined the ways that electricity and locomotives would transform entire societies and economies. They represent what economists call general-purpose technologies, or GPTs.

    Today, many experts think that the latest GPT is artificial intelligence, or AI. And among the many research initiatives underway here are technologies that support the advancement of AI.

    In the 140 years between these GPT bookends, this region has continued to invest in new industries and training for workers, helping to drive the health of the local economy.

    The Soft Data

    Of course, all communities in the Federal Reserve’s Second District-which includes the Capital Region-are affected by national trends. In recent months, the changing landscape around fiscal and trade policies has heightened economic uncertainty among consumers, business owners, and financial market participants.

    As an economist and policymaker, I am always studying the data. Recently, there have been some interesting dynamics in both the soft data, which are typically survey measures of perceptions and expectations, and the hard data, which are economic readings of what has actually happened.

    I’ll start with the soft data. Over the past few months, surveys carried out by the New York Fed and others have highlighted a great deal of pessimism and uncertainty about the economic outlook. With respect to the Second District, our surveys of manufacturers and service firms indicate that economic activity has declined modestly, and concerns about tariffs are widespread. Several of my business contacts reported pulling back on capital spending and putting hiring on hold until the economic uncertainty lessens.

    In the New York Fed’s national Survey of Consumer Expectations, consumers’ uncertainty remains elevated not just about inflation, but also about housing prices and their earnings growth.1 According to this survey, households have scaled back their expected spending growth on nonessential items.

    The soft data have also revealed some good news. Longer-run inflation expectations have remained stable. And with the pullback in tariffs since early April, short- and medium-term inflation expectations have receded back close to their pre-pandemic averages. These patterns are consistent with market-based measures of inflation compensation and with most other survey-based measures. This is critically important, because well-anchored inflation expectations are essential for sustained price stability.

    That said, survey respondents report that uncertainty about inflation remains elevated.

    The Hard Data

    As a policymaker, I have often said that my decisions are data dependent-but not data-point dependent. I look at the totality of the data for underlying trends. I am particularly focused on those that affect the achievement of the FOMC’s dual mandate goals of maximum employment and price stability, which is defined as 2 percent inflation over the longer run.

    And what much of the hard data shows is that the U.S. economy remains in a good place.

    With regard to real GDP growth, the data have been unusually noisy, reflecting front-running of tariffs. That said, consumer spending and investment have been resilient overall so far this year.

    On the employment side of our mandate, labor market conditions have remained solid, with the unemployment rate at a little over 4 percent for the past year.

    On the price stability side of our mandate, inflation has continued to come down from its COVID-era spikes. With the labor market in balance and wage pressures having abated, inflation, as measured by the personal consumption expenditures price index, has moved close to our 2 percent longer-run goal.

    However, measures of underlying inflation-such as core inflation, which strips away volatile categories like food and energy-are still somewhat above our 2 percent target. And there are signs that tariffs are affecting specific categories of goods.

    We are seeing evidence of these patterns in the Second District. In May, New York Fed staff fielded a special survey to gauge the extent to which New York and New Jersey businesses were passing on tariff-induced cost increases to their customers. Manufacturers indicated that over the past six months, the cost of their tariffed goods had risen by about 20 percent, on average. For service firms, the increase was about 15 percent. The survey’s key finding is that about three-quarters of respondents in both sectors passed along at least some of these higher costs to their customers by raising prices. Indeed, almost a third of manufacturers and nearly half of service firms reported fully passing along all tariff-related cost increases.2

    What does this all mean for the economy going forward?

    My answer is that we need to be vigilant in analyzing the totality of the data to see how conditions evolve.

    Monetary Policy

    Given the continued uncertainty, the solid labor market, and inflation still above our 2 percent goal, the FOMC decided at its meeting last week to leave the target range for the federal funds rate unchanged at 4-1/4 to 4-1/2 percent.3

    Maintaining this modestly restrictive stance of monetary policy is entirely appropriate to achieve our maximum employment and price stability goals. It allows for time to closely analyze incoming data, assess the evolving outlook, and evaluate the balance of risks to achieving our dual mandate goals.

    In addition, the FOMC continues to reduce its holdings of Treasury securities and agency debt and agency mortgage-backed securities. Despite market volatility related to trade policy and other developments, that process continues to go very smoothly.

    The Economic Outlook

    In an uncertain environment, any number of outcomes can occur. But based on what the data tell us today, I expect uncertainty and tariffs to restrain spending and reduced immigration to slow labor force growth. As a result, I expect real GDP growth this year will slow considerably from last year’s pace, to just over 1 percent.

    With this deceleration of real GDP, I expect the unemployment rate to rise to around 4-1/2 percent by the end of this year. I anticipate the tariffs enacted this year will boost inflation to around 3 percent in 2025, and then for inflation to gradually decline to 2 percent over the next two years as the tariff effects fade.

    Conclusion

    Much of the soft data we’ve seen in recent months captures the heightened uncertainty about the path of the economy. But it’s too early to say what the future trajectory of the hard data will be.

    As always, I remain focused on all the data, and that includes what I have learned on this trip to the Capital Region. No matter what comes our way, I am committed to supporting maximum employment and returning inflation to our 2 percent longer-run goal.

    MIL OSI Economics

  • MIL-OSI Russia: Territory of reasonable decisions: how Muscovites are helped to improve their financial literacy

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The popularity of educational projects on financial literacy is growing in the capital. Master classes, games, quizzes, film lectures and other interactive activities help city residents of all ages understand financial issues. The events are held by the capital’s Department of Finance together with the financial literacy center and partners.

    “We talk to Muscovites about finances where it is convenient for them and in a way that interests them: in schools and universities, libraries, festivals and parks. In 2024 alone, over 560 events of various formats were held in the capital. And this year there will be even more. It is important that Muscovites receive not only new knowledge, but also practical skills: they learn to handle money wisely and make thoughtful financial decisions,” she noted.

    Elena Zyabbarova, Minister of the Moscow Government, head of the capital’s Department of Finance.

    The meetings go beyond the usual spaces and are already becoming part of the urban environment. Thus, this summer, financial literacy days were held at the Northern and Southern river terminals – these are new city platforms for such conversations.

    Another major event is Festival of financial literacy and entrepreneurial culture in Moscow. It has been held since 2017 by the capital’s departments of finance, education and science, as well as the Bank of Russia, and has become a traditional city educational event for city residents of all ages who want to improve their level of financial literacy and learn the basics of entrepreneurship. Last year, the festival lasted a whole week and covered more than 200 sites, including the Moscow Center for Education Quality, schools, colleges, universities, Moscow Longevity Centers, My Work and My Career employment centers, libraries and the Digital Business Space. More than 500 thousand people took part in online and offline events. This coming autumn, the festival will return with a rich program.

    Classes to improve financial literacy are integrated into major events and festivals, including Biblionight, Night at the Museum, and Red Square. Most often, city residents are interested in how to avoid being scammed, invest, and plan their personal budget.

    Modern formats make such events more lively and exciting. In 2024, a financial stand-up and a VR simulator appeared, with the help of which you can practice your personal finance management skills.

    Financial Literacy in Libraries

    For more than two years now, thematic meetings have been held for residents of the capital near their homes. As part of the project “ABCs of Financial Literacy”, which covers all age groups, lectures, business games, film lectures and other events are organized in Moscow libraries.

    City residents discuss familiar life situations with experts, including how to plan a family budget, what to consider when applying for a loan, and how not to become a victim of fraudsters. Event announcements can be found on social networks and city library websites.

    Name for the project Muscovites themselves chose. More than 170 thousand people took part in the voting on the Active Citizen platform.

    Financial Literacy in Film

    One of the most original formats is film lectures in Moscow cinemas. This is an unusual way to involve city residents in managing their personal finances, even if they have not been seriously interested in this before.

    Together with experts, viewers watch famous Soviet and Russian films, including “Courier”, “Moneychangers”, “Russian Money”, “Domovoy”, “Family Budget”. And then they analyze the behavior of the characters from the point of view of financial literacy: what went wrong, and could it have been done differently?

    Soviet films raise topics that remain relevant today, they are simply presented through the prism of modern realities. For example, the film “Beware of the Car” raises questions about car insurance.

    The project is being implemented with the support of the Moskino cinema chain and Department of Culture of Moscow.

    Financial Literacy at Work

    The rhythm of the metropolis does not always leave time for self-education, so a project for financial education of employees of work collectives has appeared in Moscow. Organizations can invite experts to conduct lectures and master classes directly at workplaces – offline or online. All events are free, and the topic can be chosen depending on the request of employees.

    The focus is most often on cybersecurity, personal budget management, consumer protection, investment basics, taxation and lending. Listeners can choose from interactive lectures, master classes, financial quizzes and case studies.

    You can determine the topic, format and time of classes, as well as sign up for the waiting list by link.

    Financial Literacy for Children and Youth

    The upbringing of a financially literate person begins at an early age. Thematic classes and events with elements of financial literacy are organized by Department of Education and Science of the City of MoscowIn addition, children can take part in Olympiads and quizzes, quizzes and quests, meet with representatives of large Russian companies and attend lessons taught by representatives of the Federal Financial Monitoring Service (Rosfinmonitoring).

    The capital’s Department of Finance is implementing several projects on financial literacy for children and young people. Kindergartens regularly host events for preschoolers, schools host open lessons on financial and budget literacy, and children’s city camps host interactive classes during the holidays. Starting this year, they can be visited not only in the summer, but also in the spring and fall. Primary school students will learn about the origin of funds, rules for financial security and rational purchases, and will also create a model of their bank card and take part in a quiz.

    Experts can also be invited to colleges and universities. Heads of educational institutions choose what will really interest students, including quizzes, educational lectures or cartoons on financial topics. Questions related to budget planning, the history of money, financial security and lending remain popular with young people. You can send an application to link.

    Separate tracks for children’s audiences were also provided at citywide events. While adults listen to lectures on smart family budget planning, children can play the tactile game “Guess What?”, analyze the financial behavior of popular cartoon characters, or take part in the quiz “Secrets of Financial Security.”

    Financial Literacy for the Older Generation

    Older city residents actively participate in educational events with experts, which take place in Moscow longevity centers, libraries and other venues, as well as at major festivals. Muscovites of the “silver” age learn how to make purchases on the Internet, protect personal data and avoid spontaneous spending.

    Experts also talk about aspects of inheritance law in Russia, forms of wills and the specifics of drafting them. It is important that listeners can get answers to their questions on the spot and analyze their personal financial situations.

    In addition, the Moscow Longevity project offers regular classes on financial and legal literacy. The course programs are designed to take into account the interests of the older audience. You can find out more at the Moscow Longevity Centers and on the portal Mos.ru.

    Financial Literacy for People with Disabilities

    Special attention is paid to financial education of citizens with disabilities. Muscovites with visual impairments will be able to attend lectures at the Russian State Library for the Blind and listen to educational programs recorded by the Department of Finance on Internet radio. People with hearing impairments have the opportunity to access educational videos with sign language interpretation. This allows us to cover all segments of the population and create a truly inclusive educational environment.

    Tax deductions and banking products: Moscow launches financial literacy project for the visually impairedMoscow projects to improve financial literacy are recognized as the best in Russia

    Financial literacy in new formats

    Technology is an important component of educational formats. In 2024, an updated version of the financial checkup was presented – an online test that helps assess your knowledge. More than 4.3 thousand people took it. This can be done at any time by linkBy answering a few questions, everyone will find out their level of financial literacy and receive personal recommendations and links to useful materials for further self-education.

    The VR simulator is no less popular. Participants get the opportunity to immerse themselves in a virtual space, where they try themselves in the role of a tax consultant or bank employee and make important decisions on loans and tax deductions. You can practice budget management skills at the events of the Department of Finance.

    Economically active Muscovites have a high level of financial literacy

    Financial Literacy Online

    Those who prefer to study remotely can also easily find the necessary information. Useful materials, event announcements and links are published on the portal “Open Budget of the City of Moscow” and in the same name telegram channel.

    Budget literacy

    Budget literacy projects are also being developed in Moscow. One example is the “Budget for Citizens” competition. The participants are mainly schoolchildren and students. They make guidebooks, draw comics, brochures and posters, develop educational websites, create educational videos and cartoons, and come up with business, board and computer games.

    The organizers analyze the competition entries and try to take into account useful suggestions. The most interesting ideas are implemented in educational projects. Department of FinanceThe works of the winners of the capital competition are also highly valued at the federal level.

    Get the latest news quickly official telegram channelthe city of Moscow.

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

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

    https: //vv.mos.ru/nevs/ite/156131073/

    MIL OSI Russia News

  • MIL-OSI New Zealand: Health Sector – General practice amazed at Government’s cash splurge on telehealth – Genaro

    Source: General Practice Owners Association (GenPro)

    The General Practice Owners Association is calling foul at the huge difference between government funding for screen-based telehealth compared to face-to-face visits to community doctors.

    “General practice is amazed at the extravagant payments to a few telehealth providers during these cash-strapped times. And we’re stunned that the government won’t fund anywhere near these amounts to support general practices to see the same patients,” says Dr Angus Chambers, Chair of GenPro.

    “The scale of per-patient funding indicates clear favouritism for telehealth providers. Questions must be asked about whether telehealth is good use of public money when general practices are funded at lower rates for a superior standard of patient service.

    “We’re asking health officials for the reasoning behind the funding difference in favour of screen-based appointments, which tend to be easier and quicker consultations, over a family doctor who examines patients more thoroughly.”

    Ironically a telehealth consultation often results in a recommendation to visit a general practitioner for a more thorough examination, Dr Chambers says.

    “We’re stunned that telehealth providers will receive:

    $65 for seeing after hours a 14-year-old whose caregiver has a community services card, while general practice receives $20.45.
    $65 for seeing after hours an adult with a community service card, while general practice will receive $15.33.
    $95 for seeing a 13-year-old whose caregiver has a community services card, while general practice receives $20.45.

    “While GenPro welcomed the recent increased funding for general practice, it’s important to emphasise that this boost was only for enrolled patients. This new telehealth service is for non-enrolled patients or those seeking care when their regular doctor cannot see them – which is a service many GPs also provide.

    “This is an important distinction as the huge advantage for telehealth will significantly undermine the sustainability of general practice.

    “Telehealth may be the only choice for remote rural areas where it is extremely hard to access a GP, or for those that are not enrolled in a practice, but it is risky to make it the first option for all.

    This Government’s $165 million investment in large corporations and primary health organisations, instead of front-line GP services, comes despite international evidence that telehealth is ineffective at solving  problems in the health system.

    “Evidence from the UK showed that telehealth did nothing to reduce emergency department attendance rates, time to cancer diagnosis, or to see a specialist. Telehealth might be convenient, but is it best for patients?

    “It seems that Health New Zealand believes that it is, as shown by this disproportionate funding,” Dr Chambers says.

    GenPro members are owners and providers of general practices and urgent care centres throughout Aotearoa New Zealand. For more information visit  www.genpro.org.nz
     
     

    Comparison of government funding of patients seeing screen-based telehealth providers versus face-to-face appointment at general practices
    Below is a comparison of the subsidies for either discipline to see a casual patient (not enrolled with the service provider). Noting that the Telehealth fees are capped.
     

    Age of patient                                     GP subsidy                                                T/health subsidy Difference 
    U6 BH CSC $35.78 U6 BH CSC $75.00 110%
    U6 AH CSC $35.78* U6 AH CSC $95.00 166%
    U6 BH No CSC $35.78 U6 BH No CSC $55.00 54%
    U6 AH No CSC $35.78* U6 AH No CSC $65.00 82%
    6-13 BH CSC $20.45 6-13 BH CSC $75.00 267%
    6-13 AH CSC $20.45* 6-13 AH CSC $95.00 365%
    6-13 BH No CSC $15.33 6-13 BH No CSC $55.00 259%
    6-13 AH No CSC $15.33* 6-13 AH No CSC $65.00 324%
    14-17 BH CSC $20.45 14-17 BH CSC $55.00 169%
    14-17 AH CSC $20.45 14-17 AH CSC $65.00 219%
    14-17 BH No CSC $15.33 14-17 BH No CSC $25.00 63%
    14-17 AH No CSC $15.33 14-17 AH No CSC $35.00 128%
    18+ BH CSC $15.33 18+ BH CSC $55.00 259%
    18+ AH CSC $15.33 18+ AH CSC $65.00 324%
    18+ BH No CSC $0.00 18+ BH No CSC $2.00 Infinity
    18+ AH No CSC $0.00 18+ AH No CSC $12.00 Infinity

    All amounts include GST
    BH = Business hours 0800-2200
    AH After hours 2200-0800
    CSC Community Services card
    * Additional after-hours subsidies available with regional variation

    MIL OSI New Zealand News