Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
NEW YORK, July 3 (Xinhua) — U.S. President Donald Trump on Wednesday took to the social media platform Truth Social to demand that Federal Reserve Board Chairman Jerome Powell “resign immediately.”
The White House chief referred to an article about comments by Federal Housing Finance Agency head Bill Pulte, who called on Congress to investigate alleged political bias and misleading the Senate by J. Powell.
Trump has previously threatened to remove Powell from office before his term ends next year, repeatedly criticizing the Fed chairman for refusing to cut interest rates. –0–
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
VLADIVOSTOK, July 3 (Xinhua) — The 9th Eastern Oil and Gas Forum kicked off Wednesday in Vladivostok, the capital of Russia’s Primorsky Krai, to discuss major investment projects in the oil and gas industry in Eastern Siberia and the Far East, including the construction of processing facilities.
The forum, organized with the support of the Primorsky Krai government, is taking place on July 2 and 3. The event brought together more than 150 participants, including top managers of the country’s oil and gas companies, investors, and government officials.
Acting Consul General of the People’s Republic of China in Vladivostok Wang Jun said in his speech at the opening of the forum that profound changes are currently taking place in the global energy sector. Green transformation and technological innovations create new opportunities and challenges for this sector. The Far East, as a key node in the global energy supply chain, plays an important role in ensuring energy security and promoting low-carbon development. According to him, cooperation between China and Russia in the energy sector has broad development prospects.
The two-day forum will discuss key investment projects, industry development strategies, logistics issues, efforts to find and build new export routes in the context of the transformation of global energy. Attention will also be paid to the development of the oil and gas sector in the Russian Far East and Eastern Siberia. –0–
Source: People’s Republic of China – State Council News
CAIRO, July 3 (Xinhua) — Egyptian President Abdel Fattah el-Sisi and his Ukrainian counterpart Volodymyr Zelensky held a telephone conversation on Wednesday to discuss the Russia-Ukraine conflict and regional developments in the Middle East, the Egyptian presidential office said in a statement.
Speaking about the Russian-Ukrainian conflict, A.F. al-Sisi stressed the importance of achieving a diplomatic and political solution, emphasizing the need to “prioritize dialogue as a means of resolving the current crisis.”
According to the statement, he reaffirmed Egypt’s “full support for all efforts aimed at achieving a peaceful settlement as soon as possible.”
During the talks, the two leaders discussed the broader regional situation, especially the recent ceasefire agreement between Israel and Iran. The sides stressed “the need to maintain the ceasefire” and resume negotiations to achieve a peaceful settlement.
The parties also discussed bilateral relations and ways to strengthen cooperation in the economic, trade and investment spheres.
The phone call took place amid widespread calls for an end to the Russia-Ukraine conflict that began in February 2022. –0–
Source: State University of Management – Official website of the State –
From July 21 to 25, 2025, the Summer Engineering and Economics School 2025 will be held at the State University of Management.
For the fourth time, the Scientific School will unite young scientists and engineers from different Russian universities to create inter-university and interdisciplinary collaborations to solve problems of achieving technological leadership and strengthening the value sovereignty of our country.
The School’s scientific areas are engineering, UAS, mechanical engineering, food security, artificial intelligence, and sustainable development.
Every year, the School is scaled up, new participants from universities in different regions of the country join the project. If in the first stream of the engineering and economic school, which took place in 2023, 3 universities took part – GUU, GGNTU named after academician M.D. Millionshchikov and SKMMI (STU), then this year the number of participants increased to eight:
BSTU named after V.G. Shukhov (Belgorod) VlSU named after A.G. and N.G. Stoletov (Vladimir) GGNTU named after academician M.D. Millionshchikov (Grozny) State University of Education (Moscow) Moscow State University named after A.I. Kuindzhi (Mariupol) NTU “Sirius” (Krasnodar region) SKGMI (GTU) (Vladikavkaz) St. Petersburg Federal Research Center RAS (St. Petersburg)
Let us recall that one of the results of the 2024 School was a joint interdisciplinary scientific project between the State University of Management and the State Petroleum Technological University named after Academician M.D. Millionshchikov within the framework of the RSF grant for the research, creation and development of technologies to reduce the carbon footprint.
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.
Source: State University of Management – Official website of the State –
Professor of the Department of Public Administration and Political Technologies of the State University of Management Vladimir Volokh spoke at a press conference dedicated to the topic “Children without education and new entry rules: how is migration policy changing in Russia?”, which took place in the press center of the information agency “National News Service”.
In his speeches, the professor noted that since 2024, the State Duma has adopted 16 laws aimed at combating illegal migration. The authorities are concerned that about 600 thousand children of migrants do not study in Russia, which, according to law enforcement agencies, negatively affects the crime situation.
Since the spring of this year, potential students are required to take a Russian language exam to determine their level of preparation for perceiving the curriculum. Volokh emphasized that children’s lack of knowledge of Russian is becoming a serious problem for both teachers and society: “When in one class there are children who know Russian well and children who do not, this creates significant difficulties for teachers.”
The professor also noted problems in the organization of testing, indicating that more than 80% of children are not allowed to take the exam due to inaccuracies in the documents, which indicates that parents are insufficiently informed about the rules of registration.
According to the current rules, a foreign child can retake the test after three months, during which time the parents must provide him with additional training in the Russian language. Otherwise, in the event of an unfavorable scenario, the family may face deportation.
At the same time, according to the participants of the press conference, changes in legislation adopted in the last six months to a year have already significantly affected the procedure for the stay of foreign citizens in Russia. In addition, the RuID service is being launched, which, according to media reports, will operate as a pilot project with voluntary use for now.
The full recording of the broadcast can be viewed at the link: https://m.vk.com/wall-55611432_670004
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.
Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –
In June, Peter the Great St. Petersburg Polytechnic University successfully registered a computer program developed by employees of the Civil Engineering Institute.
The program was developed by the director of the Higher School of Technosphere Safety Andrey Andreev, assistants of the Higher School of Technosphere Safety Alexander Doronin and Valeria Kachenkova.
The program for analyzing and predicting human factor risks in production using neural networks was created using the Python programming language and applies LSTM neural network technologies. It is designed to analyze and predict the probability of errors caused by the human factor. The program takes into account a wide range of parameters, such as attention level, reaction speed, employee responsibility and production environment factors, which allows for a comprehensive risk assessment.
Functionality includes risk factor analysis and visualization, building predictive models based on historical data, real-time error probability assessment, creating heat maps of hazardous areas, monitoring employee performance dynamics, and generating reports and recommendations for risk reduction.
The software can be used in manufacturing plants, in occupational health and safety management systems, industrial safety services, as well as in personnel training and assessment to prevent emergency situations.
Technical requirements include the use of an IBM PC based on an Intel Pentium processor or higher, Windows 7 operating system or higher, and the Python programming language. The program size is 150 MB.
Currently, the team of the Higher School of Technosphere Safety continues to work on creating software in the field of labor protection. It will be intended for use in production and in the educational process for training future specialists.
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.
Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –
The Higher School of Service and Trade (HSST) of the Institute of Industrial Management, Economics and Trade of SPbPU successfully defended the final qualification works of bachelors. The event became a key stage in the implementation of a large-scale joint research grant with the partner Indonesian University of Gunadarma.
Students of the Higher School of Social Sciences of the Institute of Mathematics, Economics and Telecommunications of St. Petersburg Polytechnic University Anastasia Pakhaturidi and Yulia Mavlyutova presented the results of their research carried out within the framework of the project “Cross-cultural research and promotion of smart agribusiness of growing marigolds based on digital marketing (a joint project of Indonesia and Russia)”. Both defenses were rated excellent.
The aim of the project is to study the potential of smart agribusiness and digital marketing in the flower industry, specifically focusing on marigolds, which have high economic importance for the cosmetic, pharmaceutical and food industries. The project is unique in its cross-cultural approach, synchronizing the agribusiness models of Russia (temperate climate, EAEU) and Indonesia (tropical climate, ASEAN) through the prism of digitalization.
Anastasia Pakhaturidi (supervisor — PhD in Economics, Associate Professor Nelli Kozlova) and Yulia Mavlyutova (supervisor — Doctor of Economics, Professor Svetlana Bozhuk) developed a strategy for promoting the project in the Indonesian and ASEAN markets using digital marketing tools. Optimal promotion channels for the B2B and B2C segments were identified, their specifics were described, and recommendations on content were given. An in-depth analysis of the Russian flower market and marketing tools for promoting marigolds was also conducted, including the development of a brand concept and a content plan for the VKontakte social network.
Working on the GUT Marigold project was not easy, but it left only pleasant impressions! The most interesting thing for me was studying consumers, since even at the initial stage it became clear how much the buyer in Asia differs from the Russian one I am used to. This expanded my worldview and gave me knowledge that I hope to apply in my profession in the future. I am grateful to my scientific supervisor Nelli Anatolyevna Kozlova for the opportunity, competent and qualified guidance and support, – shared Anastasia Pakhaturidi.
The research project will continue next year.
Yulia Mavlyutova noted: It was interesting to work on a part of a real project and feel my contribution to the common cause. Most of all I liked creating the concept of a new flower brand and making a content plan. I am very glad that I had the opportunity to work with Svetlana Bozhuk. She very competently guided me along the way and also gave very good advice.
This initiative not only has high scientific and practical value in the field of digital marketing and smart agriculture, but also strengthens the position of St. Petersburg as a center of innovation and international cooperation. The project opens up new opportunities for St. Petersburg enterprises in the agricultural sector and promotes the development of international programs in the field of agrobiotechnology and digital marketing in the city’s scientific and educational institutions, fully consistent with its strategic development goals until 2035.
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.
Side effects from taking too much vitamin B6 – including nerve damage – may be more widespread than we think, Australia’s medicines regulator says.
In an ABC report earlier this week, a spokesperson for the Therapeutic Goods Administration (TGA) says it may have underestimated the extent of the side effects from vitamin B6 supplements.
However, there are proposals to limit sales of high-dose versions due to safety concerns.
A pathologist who runs a clinic that tests vitamin B6 in blood samples from across Australia also appeared on the program. He told the ABC that data from May suggests 4.5% of samples tested had returned results “very likely” indicating nerve damage.
So what are vitamin B6 supplements? How can they be toxic? And which symptoms do you need to watch out for?
What is vitamin B6?
Vitamin B6, also known as pyridoxine, plays an important role in keeping the body healthy. It is involved in the metabolism of proteins, carbohydrates and fats in food. It is also important for the production of neurotransmitters – chemical messengers in the brain that maintain its function and regulate your mood.
Vitamin B6 also supports the immune system by helping to make antibodies, which fight off infections. And it is needed to produce haemoglobin, the protein in red blood cells that carries oxygen around the body.
However, most people don’t need, and won’t benefit from, a vitamin B6 supplement. That’s because you get enough vitamin B6 from your diet through meat, breakfast cereal, fruit and vegetables.
Currently, vitamin B6 supplements with a daily dose of 5–200mg can be sold over the counter at health food stores, supermarkets and pharmacies.
Because of safety concerns, the TGA is proposing limiting their sale to pharmacies, and only after consultation with a pharmacist.
Daily doses higher than 200mg already need a doctor’s prescription. So under the proposal that would stay the same.
What happens if you take too much?
If you take too much vitamin B6, in most cases the excess will be excreted in your urine and most people won’t experience side effects. But there is a growing concern about long-time, high-dose use.
A side effect the medical community is worried about is peripheral neuropathy – where there is damage to the nerves outside the brain and spinal cord. This results in pain, numbness or weakness, usually in your hands and feet. We don’t yet know exactly how this happens.
In most reported cases, these symptoms disappear once you stop taking the supplement. But for some people it may take three months to two years before they feel completely better.
There is growing, but sometimes contradictory, evidence that high doses (more than 50mg a day) for extended periods can result in serious side effects.
A study from the 1990s followed 70 patients for five years who took a dose of 100 to 150mg a day. There were no reported cases of neuropathy.
But more recent studies show high rates of side effects.
A 2023 case report provides details of a man who was taking multiple supplements. This resulted in a daily combined 95mg dose of vitamin B6, and he experienced neuropathy.
Another report describes seven cases of neuropathy linked to drinking energy drinks containing vitamin B6.
The current advice is that someone who takes a dose of 50mg a day or more, for more than six months, should be monitored by a health-care professional. So if you regularly take vitamin B6 supplements you should discuss continued use with your doctor or pharmacist.
There are three side effects to watch out for, the first two related to neuropathy:
numbness or pain in the feet and hands
difficulty with balance and coordination as a result of muscle weakness
heartburn and nausea.
If you have worrying side effects after taking vitamin B6 supplements, contact your state’s poison information centre on 13 11 26 for advice.
Nial Wheate in the past has received funding from the ACT Cancer Council, Tenovus Scotland, Medical Research Scotland, Scottish Crucible, and the Scottish Universities Life Sciences Alliance. He is a fellow of the Royal Australian Chemical Institute. Nial is the chief scientific officer of Vaihea Skincare LLC, a director of SetDose Pty Ltd (a medical device company) and was previously a Standards Australia panel member for sunscreen agents. He is a member of the Haleon Australia Pty Ltd Pain Advisory Board. Nial regularly consults to industry on issues to do with medicine risk assessments, manufacturing, design and testing.
Slade Matthews provides scientific evaluations to the Therapeutic Goods Administration as a member of the Therapeutic Goods Assessment and Advisory Panel. Slade serves on the NSW Poisons Advisory Committee for NSW Health as the minister-nominated pharmacologist appointed by the Governor of NSW.
The European Anti-Fraud Office (OLAF) and the European Union Intellectual Property Office (EUIPO) co-organised a two-day conference in Alicante, Spain to discuss current and emerging trends in intellectual property (IP) crime related to the sector of Fast-Moving-Consumer-Goods (FMCG). The event took place from 1-2 July and brought together more than 50 participants, including customs officers, police, market surveillance authorities, EU and international bodies and representatives from the industry.
The so-called Fast-Moving-Consumer-Goods (FMCG) include everyday items such as personal care and home care items, packaged food, snacks, soft drinks and household batteries. These items are often targeted by fraudsters due to high consumer demand, short shelf lives and high turnover that reaches hundreds of billions every year.
The economic scale of this sector makes it a lucrative target for counterfeit products, which are increasingly making their way into people’s homes. However, counterfeit goods not only harm legitimate businesses but can also pose serious risks to consumer health and safety as they oftentimes fail to comply with the European standards and regulations. The infiltration of fake products leads to significant economic damage – undermining fair competition, causing loss of revenue for legitimate producers, which ultimately results in job losses across affected industries.
To address this growing threat, OLAF and EUIPO co-hosted a two-day conference titled “The Counterfeit Closed: Uncovering Fake Products in Your Home and on Your Shelf”, held at the EUIPO premises in Alicante, Spain. The aim was to share information and best practices, discuss enforcement tools as well as practical insights on how to improve detection and strengthen cooperation to protect consumers and business from fake products. For more information, see the EUIPO news item.
“This conference is yet another concrete step in reinforcing EU’s fight against fraud involving intellectual property,” said OLAF Director-General Ville Itälä. “By working together across borders and sectors, we are better equipped to stop counterfeit goods at the source and protect European consumers, industry and markets.”
Background
The conference is part of an ongoing cooperation between OLAF and EUIPO, under a service-level agreement launched in 2022. Together, the two institutions organise major knowledge-sharing events each year, focused on strengthening enforcement against intellectual property crimes.
Read the news item issued by the EUIPO
OLAF mission, mandate and competences:
OLAF’s mission is to detect, investigate and stop fraud with EU funds.
OLAF fulfils its mission by: • carrying out independent investigations into fraud and corruption involving EU funds, so as to ensure that all EU taxpayers’ money reaches projects that can create jobs and growth in Europe; • contributing to strengthening citizens’ trust in the EU Institutions by investigating serious misconduct by EU staff and members of the EU Institutions; • developing a sound EU anti-fraud policy.
In its independent investigative function, OLAF can investigate matters relating to fraud, corruption and other offences affecting the EU financial interests concerning: • all EU expenditure: the main spending categories are Structural Funds, agricultural policy and rural development funds, direct expenditure and external aid; • some areas of EU revenue, mainly customs duties; • suspicions of serious misconduct by EU staff and members of the EU institutions.
Once OLAF has completed its investigation, it is for the competent EU and national authorities to examine and decide on the follow-up of OLAF’s recommendations. All persons concerned are presumed to be innocent until proven guilty in a competent national or EU court of law.
For further details:
Pierluigi CATERINO Spokesperson European Anti-Fraud Office (OLAF) Phone: +32(0)2 29-52335 Email: olaf-mediaec [dot] europa [dot] eu(olaf-media[at]ec[dot]europa[dot]eu) https://anti-fraud.ec.europa.eu LinkedIn: European Anti-Fraud Office (OLAF) X: x.com/EUAntiFraud Bluesky: euantifraud.bsky.social
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Plans for a memorial and garden to remember those who died at Haut du Mont have been unveiled.
Family members of the 10 people who died and those who lost their homes in the explosion in December 2022 have been closely involved in the design and features of the garden which will be built at the site on Pier Road.
Government of Jersey Principal Architect Barry Freeman has been working with the families to incorporate their wishes into the design which will soon be submitted for planning permission.
Among the details the families and former residents suggested are the inclusion of the favourite flowers of those who died and a separate play area for young children.
The garden will feature an area where the names of those who died will be captured on seating and separate quiet places where people can sit, reflect and look at the view across St Aubin’s Bay.
Karlene McGinness, whose mother Kathy died following the explosion, is among the family members whose views have been incorporated into the design.
Speaking on behalf of her family, she said: “We’re really pleased that the plans for the memorial site are now progressing.
“Our mum’s home always had an incredibly welcoming and warm feel, which was reflective of the loving, happy, and caring person that she was. So it’s important to us that the memorial site has personal elements which can reflect the kind of person that she was. There’s clearly been a lot of thought given to making sure the design and details have a personal feel, and we’re pleased with that.
“We hope that once it’s in place, it’ll be a pleasant space where we can go to reflect, remember our mum, and reminisce with our family and her friends about all the good times.
“Our mum loved nothing more than playing with her grandchildren. It will certainly be a place we’ll go with our children to play, talk about all our lovely memories of her, and keep her memory alive.”
Architect Barry Freeman said: “This has been one of the most heartfelt and important things I have worked on in my 33-year career.
“Working so closely with those who lost loved ones and those who lost their homes has been a privilege, and we have done our best to incorporate all their requests into the final plans.
“I hope the memorial and garden will become a place for all Islanders to reflect, remember and heal, whatever they are going through. I also hope it will stand as something that will help future generations to learn lessons that may avoid other tragedies.”
Source: State University of Management – Official website of the State –
On July 2, young scientists from the State University of Management presented one of the best projects of the forum “Strong Ideas for a New Time” and were invited to a strategic session on the formation of a personnel strategy at the Ministry of Labor and Social Protection of the Russian Federation.
Head of the Scientific Research Coordination Department of the State University of Management Maxim Pletnev and specialist of the Center for Scientific Research Coordination, graduate student of the State University of Management Nikita Akinshin presented the project “Creation of a flexible, practice-oriented system for training scientific personnel” at the pitch session.
The proposed initiative is aimed at reforming the training programs for scientific and pedagogical personnel in postgraduate studies by ensuring closer interaction between higher education institutions and enterprises in the real sector of the economy.
The key basis of the proposal is the creation of conditions under which this interaction will be beneficial to all participants and will ensure unprecedented growth in scientific and technological development and the importance of science, as well as the status of scientists in Russia.
Based on the successful experience of reorganizing the educational process in the training of scientific and pedagogical personnel in the postgraduate program of the State University of Management, a new approach was proposed that combines management, scientific and industrial competencies.
A special feature of the new generation educational program is the presence of a scientific supervisor with experience in organizations in the real sector of the economy, who himself completed postgraduate studies, has a candidate/doctoral degree and understands the needs of industrial enterprises.
As a result, the project of the SUM scientists entered the top 100 ideas in the direction of the “National Personnel Initiative”.
To develop the idea, the project team was invited to a strategic session on the formation of a personnel strategy at the Ministry of Labor and Social Protection of the Russian Federation.
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.
Session 4: New industrial developments and the evolving architecture of international trade
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
(together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)
Discussant: Diego Comin, Professor, Dartmouth College
Session 4: New industrial developments and the evolving architecture of international trade
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
(together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)
Discussant: Diego Comin, Professor, Dartmouth College
Session 4: New industrial developments and the evolving architecture of international trade
Chair: Piero Cipollone, Member of the Executive Board, European Central Bank
Paper: “Recent evolutions in the global trade system: from integration to strategic realignment”
Author: Ana Maria Santacreu, Economic Policy Advisor, Federal Reserve Bank of St Louis
(together with Florencia Airaudo, Economist, Federal Reserve Board of Governors, François de Soyres, Section Chief, Federal Reserve Board of Governors, and Alexandre Gaillard, Assistant Professor, Brown University)
Discussant: Diego Comin, Professor, Dartmouth College
Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment
Chair: Luis de Guindos, Vice-President, European Central Bank
Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
(together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)
Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York
Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment
Chair: Luis de Guindos, Vice-President, European Central Bank
Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
(together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)
Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York
Session 3: Non-bank financial intermediaries, liquidity and their prudential treatment
Chair: Luis de Guindos, Vice-President, European Central Bank
Paper: “Growth of non-bank financial intermediaries, monetary policy, and financial stability”
Author: Loriana Pelizzon, Deputy Scientific Director, Leibniz Institute for Financial Research SAFE and Professor, Goethe University Frankfurt and Ca’ Foscari University of Venice
(together with Riccardo Mattiello, Ca’ Foscari University of Venice and Warwick University, and Jonas Schlegel, Financial Economist, SAFE Policy Center)
Discussant: Nicola Cetorelli, Financial Research Advisor and Head of Financial Intermediation, Federal Reserve Bank of New York
A conversation about tapping Europe’s growth potential
Philippe Aghion, Professor, Collège de France and London School of Economics
Lars Feld, Professor, University of Freiburg, and Director of the Walter Eucken Institute
Moderator: Beatrice Weder di Mauro, Professor, Graduate Institute of International and Development Studies Geneva, and President of the CEPR
Panel 2: Central bank communication: current challenges
Chair: Philip R. Lane, Member of the Executive Board, European Central Bank
Alessandra Galloni, Editor-in-Chief, Reuters
Carolin Pflueger, Associate Professor, University of Chicago, Harris School of Public Policy
Anna Seim, Deputy Governor, Sveriges Riksbank
Alan Taylor, Professor, Columbia University and external member of the Monetary Policy Committee of the Bank of England
U.S. President Donald Trump lashed out at congressional Republicans on Thursday for failing to swiftly pass his signature legislation, warning them on social media they would lose MAGA votes if the bill died.
Republicans in the House of Representatives on Wednesday appeared to advance Trump’s massive tax-cut and spending bill, but then progress stalled with a handful of holdouts refusing to vote for a bill that nonpartisan analysts say will add $3.4 trillion to the nation’s $36.2 trillion in debt over the next decade.
The holdouts could switch their vote and support the president as Republican leaders held open the vote while they continued to negotiate.
Trump argued the legislation would promote economic growth and said it was popular with his MAGA base.
The package contains most of the president’s top domestic priorities: extending his 2017 tax cuts, cutting health and food safety net programs, funding Trump’s immigration crackdown, and zeroing out many green-energy incentives. It also includes a $5 trillion increase in the nation’s debt ceiling, which lawmakers must address in the coming months or risk a devastating default.
As a marathon session on Wednesday dragged into the early morning hours of Thursday, Trump and his allies appeared frustrated that the legislation had yet to clear a procedural hurdle, with voting continuing in the U.S. House of Representatives. That vote was needed to advance the bill to a final vote on the House floor.
Trump warned Republicans who were not on board that they would lose support from his base, posting on his Truth Social platform that the holdout was “ridiculous.” In a post after midnight U.S. eastern time, he wrote: “FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!”
In another earlier post he had written: “What are the Republicans waiting for??? What are you trying to prove??? MAGA IS NOT HAPPY, AND IT’S COSTING YOU VOTES!!!”
A handful of so-called fiscal hawks, who oppose deficit spending, have voted “no” along with all the House Democrats, who are critical of cuts to social spending. The Medicaid cuts have also raised concerns among some Republicans, prompting the Senate to set aside more money for rural hospitals.
The Senate passed Trump’s legislation by the narrowest possible margin on Tuesday after intense debate on the bill’s hefty price tag and $900 million in cuts to the Medicaid healthcare program for low-income Americans.
Any changes made by the House would require another Senate vote, which would make it all but impossible to meet the July 4 Independence Day deadline set by Trump.
Democrats are united in opposition to the bill, saying that its tax breaks disproportionately benefit the wealthy while cutting services that lower- and middle-income Americans rely on. The nonpartisan Congressional Budget Office estimated that almost 12 million people could lose health insurance as a result of the bill.
“This bill is catastrophic. It is not policy, it is punishment,” Democratic Representative Jim McGovern said in debate on the House floor.
Republicans in Congress have struggled to stay united in recent years, but they also have not defied Trump since he returned to the White House in January.
U.S. President Donald Trump lashed out at congressional Republicans on Thursday for failing to swiftly pass his signature legislation, warning them on social media they would lose MAGA votes if the bill died.
Republicans in the House of Representatives on Wednesday appeared to advance Trump’s massive tax-cut and spending bill, but then progress stalled with a handful of holdouts refusing to vote for a bill that nonpartisan analysts say will add $3.4 trillion to the nation’s $36.2 trillion in debt over the next decade.
The holdouts could switch their vote and support the president as Republican leaders held open the vote while they continued to negotiate.
Trump argued the legislation would promote economic growth and said it was popular with his MAGA base.
The package contains most of the president’s top domestic priorities: extending his 2017 tax cuts, cutting health and food safety net programs, funding Trump’s immigration crackdown, and zeroing out many green-energy incentives. It also includes a $5 trillion increase in the nation’s debt ceiling, which lawmakers must address in the coming months or risk a devastating default.
As a marathon session on Wednesday dragged into the early morning hours of Thursday, Trump and his allies appeared frustrated that the legislation had yet to clear a procedural hurdle, with voting continuing in the U.S. House of Representatives. That vote was needed to advance the bill to a final vote on the House floor.
Trump warned Republicans who were not on board that they would lose support from his base, posting on his Truth Social platform that the holdout was “ridiculous.” In a post after midnight U.S. eastern time, he wrote: “FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!”
In another earlier post he had written: “What are the Republicans waiting for??? What are you trying to prove??? MAGA IS NOT HAPPY, AND IT’S COSTING YOU VOTES!!!”
A handful of so-called fiscal hawks, who oppose deficit spending, have voted “no” along with all the House Democrats, who are critical of cuts to social spending. The Medicaid cuts have also raised concerns among some Republicans, prompting the Senate to set aside more money for rural hospitals.
The Senate passed Trump’s legislation by the narrowest possible margin on Tuesday after intense debate on the bill’s hefty price tag and $900 million in cuts to the Medicaid healthcare program for low-income Americans.
Any changes made by the House would require another Senate vote, which would make it all but impossible to meet the July 4 Independence Day deadline set by Trump.
Democrats are united in opposition to the bill, saying that its tax breaks disproportionately benefit the wealthy while cutting services that lower- and middle-income Americans rely on. The nonpartisan Congressional Budget Office estimated that almost 12 million people could lose health insurance as a result of the bill.
“This bill is catastrophic. It is not policy, it is punishment,” Democratic Representative Jim McGovern said in debate on the House floor.
Republicans in Congress have struggled to stay united in recent years, but they also have not defied Trump since he returned to the White House in January.
U.S. President Donald Trump lashed out at congressional Republicans on Thursday for failing to swiftly pass his signature legislation, warning them on social media they would lose MAGA votes if the bill died.
Republicans in the House of Representatives on Wednesday appeared to advance Trump’s massive tax-cut and spending bill, but then progress stalled with a handful of holdouts refusing to vote for a bill that nonpartisan analysts say will add $3.4 trillion to the nation’s $36.2 trillion in debt over the next decade.
The holdouts could switch their vote and support the president as Republican leaders held open the vote while they continued to negotiate.
Trump argued the legislation would promote economic growth and said it was popular with his MAGA base.
The package contains most of the president’s top domestic priorities: extending his 2017 tax cuts, cutting health and food safety net programs, funding Trump’s immigration crackdown, and zeroing out many green-energy incentives. It also includes a $5 trillion increase in the nation’s debt ceiling, which lawmakers must address in the coming months or risk a devastating default.
As a marathon session on Wednesday dragged into the early morning hours of Thursday, Trump and his allies appeared frustrated that the legislation had yet to clear a procedural hurdle, with voting continuing in the U.S. House of Representatives. That vote was needed to advance the bill to a final vote on the House floor.
Trump warned Republicans who were not on board that they would lose support from his base, posting on his Truth Social platform that the holdout was “ridiculous.” In a post after midnight U.S. eastern time, he wrote: “FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!”
In another earlier post he had written: “What are the Republicans waiting for??? What are you trying to prove??? MAGA IS NOT HAPPY, AND IT’S COSTING YOU VOTES!!!”
A handful of so-called fiscal hawks, who oppose deficit spending, have voted “no” along with all the House Democrats, who are critical of cuts to social spending. The Medicaid cuts have also raised concerns among some Republicans, prompting the Senate to set aside more money for rural hospitals.
The Senate passed Trump’s legislation by the narrowest possible margin on Tuesday after intense debate on the bill’s hefty price tag and $900 million in cuts to the Medicaid healthcare program for low-income Americans.
Any changes made by the House would require another Senate vote, which would make it all but impossible to meet the July 4 Independence Day deadline set by Trump.
Democrats are united in opposition to the bill, saying that its tax breaks disproportionately benefit the wealthy while cutting services that lower- and middle-income Americans rely on. The nonpartisan Congressional Budget Office estimated that almost 12 million people could lose health insurance as a result of the bill.
“This bill is catastrophic. It is not policy, it is punishment,” Democratic Representative Jim McGovern said in debate on the House floor.
Republicans in Congress have struggled to stay united in recent years, but they also have not defied Trump since he returned to the White House in January.
The Australian government has confirmed it will contribute A$3.435 billion ($2.25 billion) towards the A$7.1 billion cost of building the venues for the 2032 Brisbane Olympics, clearing the way for the start of construction.
Queensland taxpayers and private finance will provide the balance of the money for the 17 new and upgraded venues for the Summer Games under the funding deal announced by state and federal governments on Thursday.
“The Sydney 2000 Games left an incredible legacy and many Australians have memories that have lasted for decades,” Federal Infrastructure Minister Catherine King said in a statement.
“We are ready to deliver a Brisbane 2032 games that will leave the same incredible legacy for Queensland.
“The Australian government’s commitment of A$3.4 billion towards the Games venues is the single largest contribution any Australian government has made towards sporting infrastructure in this country.”
Brisbane was awarded hosting rights for the Games in 2021 but political wrangling over the venues meant the final plans were not decided until March this year.
Organising committee chief Andrew Liveris welcomed Thursday’s announcement as a “significant shift in forward momentum”.
“I thank the Australian and Queensland governments for moving swiftly following the Australian government’s recent return to office to agree on intergovernmental funding that will ensure physical works can get underway …” he said.
The main stadium, which is estimated to cost A$3.7 billion, will be built in the city’s Victoria Park and seat 60,000 during the Olympics and 3,000 more for Australian Rules football and cricket matches after 2032.
A new aquatics centre to host the swimming in 2032 will also be built nearby at an estimated cost of A$650 million.
“Today’s landmark agreement is the beginning of a new partnership that sets the pathway to deliver 2032 as the best Games ever,” said Queensland’s Deputy Prime Minister Jarrod Bleijie.
“We’ve also launched procurement on four key projects to kickstart the delivery of world-class venues in the delivery plan.
“I can also announce that we will start site investigations at Victoria Park for Australia’s most exciting sporting precinct that will be home to the new main stadium and the new National Aquatic Centre.”
Liveris said in May that he did not think any ground would be broken on the two major new venues until the end of 2026.
The federal government has already committed A$12.4 billion for local transport improvements that the Queensland government believes are necessary for 2032, the statement said.
The Australian government has confirmed it will contribute A$3.435 billion ($2.25 billion) towards the A$7.1 billion cost of building the venues for the 2032 Brisbane Olympics, clearing the way for the start of construction.
Queensland taxpayers and private finance will provide the balance of the money for the 17 new and upgraded venues for the Summer Games under the funding deal announced by state and federal governments on Thursday.
“The Sydney 2000 Games left an incredible legacy and many Australians have memories that have lasted for decades,” Federal Infrastructure Minister Catherine King said in a statement.
“We are ready to deliver a Brisbane 2032 games that will leave the same incredible legacy for Queensland.
“The Australian government’s commitment of A$3.4 billion towards the Games venues is the single largest contribution any Australian government has made towards sporting infrastructure in this country.”
Brisbane was awarded hosting rights for the Games in 2021 but political wrangling over the venues meant the final plans were not decided until March this year.
Organising committee chief Andrew Liveris welcomed Thursday’s announcement as a “significant shift in forward momentum”.
“I thank the Australian and Queensland governments for moving swiftly following the Australian government’s recent return to office to agree on intergovernmental funding that will ensure physical works can get underway …” he said.
The main stadium, which is estimated to cost A$3.7 billion, will be built in the city’s Victoria Park and seat 60,000 during the Olympics and 3,000 more for Australian Rules football and cricket matches after 2032.
A new aquatics centre to host the swimming in 2032 will also be built nearby at an estimated cost of A$650 million.
“Today’s landmark agreement is the beginning of a new partnership that sets the pathway to deliver 2032 as the best Games ever,” said Queensland’s Deputy Prime Minister Jarrod Bleijie.
“We’ve also launched procurement on four key projects to kickstart the delivery of world-class venues in the delivery plan.
“I can also announce that we will start site investigations at Victoria Park for Australia’s most exciting sporting precinct that will be home to the new main stadium and the new National Aquatic Centre.”
Liveris said in May that he did not think any ground would be broken on the two major new venues until the end of 2026.
The federal government has already committed A$12.4 billion for local transport improvements that the Queensland government believes are necessary for 2032, the statement said.
The Australian government has confirmed it will contribute A$3.435 billion ($2.25 billion) towards the A$7.1 billion cost of building the venues for the 2032 Brisbane Olympics, clearing the way for the start of construction.
Queensland taxpayers and private finance will provide the balance of the money for the 17 new and upgraded venues for the Summer Games under the funding deal announced by state and federal governments on Thursday.
“The Sydney 2000 Games left an incredible legacy and many Australians have memories that have lasted for decades,” Federal Infrastructure Minister Catherine King said in a statement.
“We are ready to deliver a Brisbane 2032 games that will leave the same incredible legacy for Queensland.
“The Australian government’s commitment of A$3.4 billion towards the Games venues is the single largest contribution any Australian government has made towards sporting infrastructure in this country.”
Brisbane was awarded hosting rights for the Games in 2021 but political wrangling over the venues meant the final plans were not decided until March this year.
Organising committee chief Andrew Liveris welcomed Thursday’s announcement as a “significant shift in forward momentum”.
“I thank the Australian and Queensland governments for moving swiftly following the Australian government’s recent return to office to agree on intergovernmental funding that will ensure physical works can get underway …” he said.
The main stadium, which is estimated to cost A$3.7 billion, will be built in the city’s Victoria Park and seat 60,000 during the Olympics and 3,000 more for Australian Rules football and cricket matches after 2032.
A new aquatics centre to host the swimming in 2032 will also be built nearby at an estimated cost of A$650 million.
“Today’s landmark agreement is the beginning of a new partnership that sets the pathway to deliver 2032 as the best Games ever,” said Queensland’s Deputy Prime Minister Jarrod Bleijie.
“We’ve also launched procurement on four key projects to kickstart the delivery of world-class venues in the delivery plan.
“I can also announce that we will start site investigations at Victoria Park for Australia’s most exciting sporting precinct that will be home to the new main stadium and the new National Aquatic Centre.”
Liveris said in May that he did not think any ground would be broken on the two major new venues until the end of 2026.
The federal government has already committed A$12.4 billion for local transport improvements that the Queensland government believes are necessary for 2032, the statement said.
Source: People’s Republic of China – State Council News
China Travel, Easy Go! Shanghai launches all-in-one platform for intl travelers
Xinhua | July 3, 2025
Shanghai on Wednesday launched “Easy Go,” an all-in-one platform to streamline digital services for international visitors, leveraging China’s expanded visa facilitation and instant tax refunds.
The platform, developed by the Foreign Affairs Office of the Shanghai Municipal People’s Government, the People’s Bank of China Shanghai Head Office, along with other city departments, integrates consumption services and tourism information onto Alipay’s international version, eliminating the need for multiple app downloads and addressing previous language barriers.
Foreign users can register with one click to access 30 mini-programs across the four key areas of dining, transport, sightseeing and shopping. Core functions include food delivery, restaurant recommendations, public transit, ride-hailing, travel advice, ticket booking, luggage storage and tax refund service locations. The service operates primarily in English and offers real-time multilingual translation.
Easy Go also features a “tap for tax refund” function that links to a tax refund map of the city, and provides updated city guides and travel tips. Media and influencer videos promoting Shanghai and China are available on the platform too.
“Easy Go is a very convenient platform because it’s just all in one,” said Clarisse Le Guernic, who comes from France. “Foreign tourists coming to Shanghai, they don’t need to download many different apps, and they can do payment, translation, order food, take shared bikes just with Easy Go.”
As of June, citizens from 55 countries can utilize China’s 240-hour visa-free transit program. The country has also expanded its unilateral visa-free access program, allowing travelers from 47 countries to stay for up to 30 days.
The total return on the insurance companies and pension funds’ investments results in a loss of kr. 4 billion year to date. The return from dividends and interest has been kr. 47 billion in the first five months of the year. At the same time, there have been negative exchange rate adjustments of kr. 4 billion, and currency adjustments have further reduced the return by kr. 47 billion. The majority of the currency loss this year is due to the fact that the dollar exchange rate has fallen significantly since the beginning of March, and approximately a quarter of the investments in dollars are not currency-hedged. Thus, the currency hedging of insurance companies and pension funds has reduced the loss by about kr. 80 billion this year. The currency loss would have been kr. 127 billion without hedging, and the total loss kr. 84 billion.
The growth in India’s services sector activity surged to a 10-month high in June, driven by robust demand in both the domestic and export markets, according to an HSBC survey released on Thursday.
The seasonally adjusted HSBC India Services PMI Business Activity Index, compiled by S&P Global, rose from 58.8 in May to 60.4 in June. The PMI threshold of 50.0 is neutral mark that separates growth from contraction on the index.
New orders expanded at the quickest rate since August 2024. Services companies benefited most from the continued strength of the domestic market, alongside a marked increase in new export business. Overseas demand particularly improved from the Asian, Middle Eastern and US markets, according to panel members, the survey states.
The ongoing expansion of the Indian services sector had a positive impact on recruitment. Employment rose for the thirty-seventh consecutive month in June, with the rate of job growth outpacing its long-run average, although it was lower than the record figure achieved in May.
The rate of input cost inflation across India’s service economy eased to a ten-month low in June, and was below its long-run average. Despite easing from May, the rate of charge inflation remained above the series trend. Outstanding business expanded at a slight rate that was nevertheless faster than in May.
According to the survey, optimism regarding the outlook for output levels in one-year time was sustained, with 18 per cent of service providers forecasting growth. This proportion of upbeat firms was, however, the lowest since mid-2022. Hence, the overall level of confidence fell and was below its long-run average.
The HSBC India Composite PMI, which combines services and manufacturing activity, rose to 61.0 in June from 59.3, marking the fastest expansion in 14 months. The manufacturing PMI data released this week showed manufacturing activity growth accelerated in June, in tune with the strong services sector performance.
Amid relentless rainfall and worsening weather conditions in Uttarakhand, around 40 devotees returning from Kedarnath Dham were rescued by the State Disaster Response Force (SDRF) on Thursday after being stranded near the Sonprayag landslide zone.
The pilgrims were stranded following a sudden landslide around 10 p.m. on Wednesday, which blocked the route with debris, making further movement impossible.
The landslide struck near Sonprayag, a key transit point along the Kedarnath Yatra route. Responding swiftly, SDRF teams launched a high-risk nighttime rescue operation.
Video footage released by the SDRF showed personnel carefully navigating through dangerous terrain and heavy debris to evacuate the stranded pilgrims to safety.
The hill state continues to face widespread disruption due to ongoing heavy rainfall. The Badrinath National Highway was blocked near Badrish Hotel in Umtta following another landslide, according to Chamoli Police.
Similarly, the Yamunotri National Highway has sustained severe damage, with sections of the road between Silai Band and Ojri washed away due to incessant downpours.
Multiple agencies, including the SDRF, National Disaster Response Force (NDRF), local police, and forest department personnel, are working in coordination to assist pilgrims and residents alike. Teams are creating temporary trails, providing transportation, and guiding people through alternate safe routes to ensure timely and secure transit.
Essential services have also been significantly impacted.
According to the India Meteorological Department (IMD), heavy rain and thunderstorms accompanied by lightning are likely to persist across several districts.
“Intense to very intense spells of rain are expected at isolated locations in Dehradun, Pauri Garhwal, Tehri, Nainital, and Bageshwar districts,” the IMD said in a statement.
Other hilly districts are also likely to experience thunderstorms with lightning and heavy rainfall in isolated pockets in the coming days.