NewzIntel.com

Category: Economics

  • MIL-OSI Economics: Isabel Schnabel: Interview with wochentaz

    Source: European Central Bank

    Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Patricia Hecht and Beate Willms on 5 February 2025

    7 March 2025

    Ms Schnabel, do you remember the first time you held money in your hand?

    That must have been during primary school. I often used my pocket money to buy sweets or an ice lolly.

    So money was just a means of payment for you, something that let you buy things?

    Exactly. However, my father placed great importance on me understanding how to deal with money early on – even though as a teenager I wasn’t that interested. He later recommended an apprenticeship at a bank to me when I wasn’t sure what to do after I had finished school. And one of his arguments was that I should learn how to manage money.

    Did you have the impression he was particularly concerned because you were a girl?

    Well, he didn’t make the same suggestion to my brother. That bothered me a little. It was just taken for granted that my brother could deal with money. But, at the end of the day, my father’s recommendation may have been one of the reasons why I ended up in a male-dominated field.

    Is it true that women engage too little with money?

    I do think so. On average, women have a lower level of financial literacy than men. That’s a problem. It can lead to them making suboptimal financial decisions and possibly ending up in financial difficulties. For example, women are more at risk of poverty in old age. So financial planning is particularly important for women.

    Are women themselves to blame for being financially worse off?

    There are many structural reasons, for example interrupted career paths due to becoming a mother or caring for elderly relatives. In addition, women are significantly more likely to work part-time. These factors contribute to women having lower incomes and smaller pensions. The insufficient engagement with financial matters is also linked to traditional gender roles. However, there’s also an element of individual responsibility. Just as one needs to think about one’s health, one needs to also deal with finances. Today, there are plenty of ways to get informed, for example, through podcasts or YouTube channels, to name just a few.

    Today you are one of the people responsible for deciding on the financing conditions for 350 million people in the euro area, because it’s the ECB’s task to keep inflation in check. Out of the 26 members of the Governing Council, only two are women – Christine Lagarde and you. Is the monetary policy that you pursue different from that of the men?

    Research shows that men and women do behave differently when it comes to economic issues. So it is possible that monetary policy may change when more women join the decision-making bodies. What is key here is diversity – also in terms of views and experiences. That’s what makes decision-making more robust.

    How do financial decisions made by men and women differ?

    Women tend to be more risk-averse in their financial decisions and they are more afraid of losses. This, for example, leads them to invest less in the stock market and thus achieve lower returns. Women also have less confidence in their financial decision-making. So improving financial literacy would be particularly important for women.

    Is there a feminist monetary policy?

    To be honest, I haven’t really thought about this. Monetary policy used to focus primarily on the economy as a whole, for instance on aggregate economic activity or consumption. Meanwhile, research has evolved and is now looking more into the underlying heterogeneity. We know, for instance, that poorer people are particularly affected by rising energy and food prices. There are likely also noticeable differences across genders.

    What are you doing to attract more women to the ECB?

    As an institution, we have a keen interest in equal opportunities. This does not always mean a fifty-fifty distribution, but we aim to represent the society for which we make our decisions and to use the entire talent pool available. This is why we have set targets at all levels of hierarchy. In order to achieve those, around half of all new hires and promotions should be women, as long as we are below our targets.

    What else are you doing?

    We try to remove barriers. Often this concerns obstacles like a lack of childcare. The ECB offers good childcare facilities, starting at infancy, and we also have a European School. Additionally, we noticed that women applied for promotions less frequently than men. When reading a vacancy notice, women have more doubts than men whether they fulfill all the criteria perfectly. We are now more explicitly encouraging women to apply. This strategy has proven to be very successful.

    Are salary differences transparent at the ECB?

    We are part of the public service, which means that we follow a clear salary structure that depends on qualifications and tasks. Then there are various allowances, which depend on things like staff members’ family situation but not on their gender.

    How do you deal with the responsibility for decisions that affect the lives of so many people?

    When I learnt in 2019 that I would be nominated for the ECB’s Executive Board, I had just arrived by train at Bonn’s main station. I saw the people on the platform and thought – in the future, I will have to make decisions affecting all these people! That’s a completely different role from that of a researcher, and one that carries a lot of responsibility. I take my job extremely seriously and try to take all decisions to the very best of my knowledge.

    You worked at different universities in Germany and the United States for 15 years, became a professor in 2007, and you were also a member of the German Council of Economic Experts. Throughout your career, you were always one of few women – often the only one, as in the case of the ”wise (wo)men”.

    The higher you go, the fewer women there are. That is still the case. And it shapes the style of communication. An example was the research seminars at university, where all the professors were men and the tone was often very harsh and aggressive. As a young researcher, that bothered me, and I know my female colleagues felt the same.

    How did you deal with it?

    I simply accepted it at the time, but it made me feel insecure. You need to have confidence in your career potential. Some women are better at handling a male-dominated environment than others. But there are also women who have a different type of personality. Some of my female colleagues left the university back then.

    Does the tone change when there is another woman in the room?

    Yes, it changes the entire tone of the conversation. This is especially true when an institution or committee is led by a woman, as is the ECB. Christine Lagarde can set the tone here. I am really impressed by how she manages to create such an inclusive and friendly climate.

    Is there something like female solidarity between the two of you?

    Absolutely. We have a close personal relationship. We also talk about private matters and we trust each other. She listens to my concerns. I can always approach her and she finds time for me even though she is extremely busy.

    Is it different with your male colleagues?

    There are a number of male colleagues with whom I have a similarly trusting relationship, but it is indeed different. There is greater emotional closeness among women.

    How important are women’s networks in your field?

    Very important. It took me a long time to understand that. Today, I am part of many informal women’s networks. It is particularly important to invite younger women and to support each other. Former US Secretary of State, Madeleine Albright, once said there is a special place in hell for women who don’t help other women. We must support each other rather than seeing each other primarily as competitors. I myself benefited from having a female mentor who later became a colleague at the University of Mainz.

    You do that too. During the pandemic, your colleague Isabella Weber – a left-leaning economist from the University of Massachusetts who was then in her mid-30s – suggested tackling inflation with strategic price controls. As this contradicted the textbooks, Nobel laureate Paul Krugman, among others, publicly dismissed her idea as “truly stupid”.

    I found this treatment of Isabella Weber intolerable. And I had the impression that a man would have been treated differently. That simply shouldn’t be the case. Although I didn’t share the view on price controls, we must be open to consider unconventional ideas. It was probably also about maintaining power and thought leadership. In general, I would find it disastrous if women were discouraged from challenging the mainstream because of this.

    Have you yourself ever felt that people were treating you differently because you are a woman?

    I experience this constantly on social media. I am sometimes besieged with sexist comments and I then mute those people. But I don’t experience this in my immediate professional environment.

    But did you suffer from any disadvantages because of being a woman?

    At the beginning of my career, during my studies, I was firmly convinced that it didn’t matter whether one was a man or a woman. I thought I just had to be good enough, and then I would make it. At that time, I wasn’t particularly positive about the promotion of women. It took a while before I realised that there were a number of gender-specific barriers. For example, during my entire university studies in Germany, I didn’t have a single female professor. So I had no role models. These issues became more obvious when I had children. I have three daughters, which means that I was either pregnant or breastfeeding for around six years. The time between the ages of 32 and 38 were very exhausting for me. And that was precisely the critical phase for progressing in an academic career. When I arrived at the office completely rushed in the morning, I already had my first major task behind me. I sometimes struggled with that. Travelling also wasn’t easy when the children were small. I wasn’t very keen on it either, as I wanted to be with my family.

    How did you manage it nonetheless?

    My doctoral advisor Martin Hellwig played a major role in this. He had helped me to build up networks already during my doctoral studies – before I had children. At the time, I hadn’t yet realised how important that was. When the children came, he gave me complete flexibility.

    How soon did you return to work?

    Very quickly. With the first child, I was back at my computer right away. With the second, I took my daughter to the office in the beginning. By the time of the third child, I was already a professor, so I brought her with me when commuting by train from Bonn to Mainz during the breastfeeding period. Just getting the stroller into those old trains was a real challenge. All of the commuters knew me – the woman with the baby! At university, I had many people to support me. I sometimes recruited students to look after my baby while I was teaching. I even breastfed during office hours.

    Did your husband bring the children to work too?

    No, because I was breastfeeding. But it wouldn’t have been possible without him. My husband has always been very involved in our family work, even more so than me in recent years. I now work in Frankfurt, but our family is still in Bonn. Besides, we have had a wonderful nanny for over 20 years, who has been with us every day and helped us tremendously.

    Not everyone can afford a nanny.

    At the beginning, almost an entire salary went to that. But it’s sometimes overlooked that paid childcare is also an investment. It allows you to stay on your career path. And I always knew that my children were very well taken care of. That’s why I rarely had a guilty conscience.

    Did you have to make compromises because of your dual role as a mother and as an economist?

    Constantly. One must not have the expectation of being absolutely perfect in each role at all times. Otherwise, you will fail to live up to your own standards. But that wasn’t always easy for me.

    What did you have to compromise on?

    Mostly on my personal needs – I didn’t have much time for myself. And the same was true for my husband. But we also learned to be efficient. In the evenings, we would sometimes put our children to bed with their tights on to speed things up in the morning.

    Have you ever been accused of being a “raven mother” (bad mother)?

    Subtly, yes. But I didn’t take on that role. The paediatrician and author Remo Largo once said, in essence, that the most important thing was to be happy as a parent and a good role model. Children imitate what they see. And I believe I am a good mother to my daughters.

    It took you a few years to call yourself a feminist. Where do your daughters stand on that today?

    My daughters grew up knowing that women can achieve anything they want. Of course they complained from time to time that I wasn’t at home as much as other mothers. But they really like what I do and take it as motivation. My daughters are true feminists who will speak up when they are disadvantaged. I wouldn’t have had the confidence to do that at their age, but of course the world has also changed in that regard.

    And how do you introduce them to the topic of money?

    My husband and I are both economists and we have often talked about how to deal with money. But they tended to find financial investment rather tedious. Today, two of my daughters are studying economics, so they have automatically come closer to these topics.

    Mark Zuckerberg recently said that companies needed more “masculine energy”. Do you find that worrying, also in relation to your daughters?

    That worries me a lot. There’s a risk that society will go backwards, even though we are far from where we want to be. In the United States, this is currently more pronounced than it is here. But it’s spilling over. For the ECB, I can say that we stand firmly behind our diversity and inclusion strategy.

    MIL OSI Economics –

  • MIL-OSI Economics: President Lagarde hosts International Women’s Day event on closing gender gap in financial literacy

    Source: European Central Bank

    7 March 2025

    • New financial literacy network of central banks and national competent authorities to focus on actions for women
    • Committed to harmonising financial literacy data for comprehensive insights across Europe
    • Panel discussion with Claudia Buch, Chair of the ECB’s Supervisory Board; Klaas Knot, President of De Nederlandsche Bank; Joachim Nagel, President of the Deutsche Bundesbank; Fabio Panetta, Governor of the Banca d’Italia and Annamaria Lusardi, Professor at Stanford University

    The European Central Bank (ECB) today hosted an event to mark International Women’s Day, addressing financial literacy with a special emphasis on the gender gap.

    “Today Europe must address two key challenges: increasing sluggish productivity growth to stay competitive; and maintaining price stability in an increasingly volatile world,” ECB President Christine Lagarde told participants. “And improving financial literacy among women can facilitate efforts to address both issues”.

    The 2023 Eurobarometer found that women are 12 percentage points less likely to understand the concept of inflation than men. The ECB Consumer Expectations Survey for 2023 found that 52% of Europeans lack basic financial literacy and that 60% of this group are women. The actions discussed at today’s event underscore that euro area central banks can significantly help to advance financial literacy and promote financial inclusion, particularly among women.

    President Lagarde’s opening remarks were followed by a panel discussion with Claudia Buch, Chair of the ECB’s Supervisory Board; Klaas Knot, President of De Nederlandsche Bank; Joachim Nagel, President of the Deutsche Bundesbank; Fabio Panetta, Governor of the Banca d’Italia; and Annamaria Lusardi, Professor at Stanford University and expert on financial literacy. President Lagarde and the panellists committed to several actions, such as creating a financial literacy network of central banks, focusing on actions to strengthen financial literacy in general and for women in particular, and the harmonisation of financial literacy data across Europe.

    Chair Buch focused on how financially literate bank customers contribute to a healthier banking sector and therefore support financial stability. Governors Knot, Nagel and Panetta described the financial literacy strategy of their respective countries, such as developing educational programmes to be used in schools or at the workplace. These best practices can be shared with other countries looking to tackle financial literacy disparities.

    Highlighting the urgent need to accelerate efforts to close the gender gap in financial literacy across Europe, Professor Lusardi said that “differences in financial literacy between women and men are large and stubborn; they persist over time and across countries”. Speaking during the panel discussion, she added “We all have to bundle our resources to promote financial literacy and reduce the gender gap”.

    The event was the first in a series of annual gatherings designed to raise awareness and foster cooperation to close the gender gap in financial literacy. The ECB is committed to serving as a facilitator within the Eurosystem, promoting interaction and the exchange of best practices. This event aligns with the ECB’s broader diversity and inclusion efforts, aiming to inspire action and cooperation among stakeholders.

    For more information, please visit our website with the financial literacy initiatives in Europe.

    Photos of the event can be found on the ECB’s Flickr account.

    For media queries, please contact Anne Grüttner, tel.: +49 162 449 2511.

    MIL OSI Economics –

  • MIL-OSI Economics: Lufthansa Group increases proportion of women in management positions to over 25 percent

    Source: Lufthansa Group

    The Lufthansa Group achieved its target of 25 percent female managers in the first quarter of 2025. Six years ago, the International Air Transport Association (IATA), the umbrella organization and association of over 300 airlines worldwide, launched the “25by2025” target to improve diversity, equality and inclusion in the aviation industry. More than 200 aviation companies have committed to this goal.

    Michael Niggemann, Member of the Executive Board of Deutsche Lufthansa AG responsible for Human Resources & Legal Affairs: “We are delighted to have increased the proportion of women in management positions across the Group to over 25 percent. Admittedly, this is still too little – the steps are sometimes small and somewhat laborious, but that is precisely why they are particularly important and necessary. The goal is and remains sustainable development without gender discrimination. We are particularly proud of the impressive growth in the field of technology. We will now continue to consistently pursue the path we have taken – through talent promotion programs and guidelines on the visibility of female candidates in the application process. We want to and will exploit the full potential of talented junior staff.”

    The proportion of female managers in the three top management levels below the Executive Board in the Lufthansa Group is 25.3 percent. To increase the number of female managers, the Lufthansa Group launched a global program for women in management positions.

    MIL OSI Economics –

  • MIL-OSI Economics: [World Sleep Day] Recovering From Daylight Savings May Take More Than Three Weeks, Youngest Hit Hardest

    Source: Samsung

    Do you find yourself feeling more tired once the clocks spring forward for Daylight Savings Time (DST)? Well, you’re not alone. Although losing an hour the night of DST may seem insignificant, examining the sleep patterns of global Samsung Health user’s[i] from the US, Canada and more than 40 European countries reveals a ripple effect that causes weeks-long disruptions to sleep patterns, hitting younger age groups the hardest.
     
    DST Takes a Toll on Sleep, With Younger Generations Most Disrupted
    When looking into how much of an impact DST has on people the morning after, one thing is clear, everyone’s sleep patterns are thrown off. In fact, people spent a little too much time counting sheep the night of the time change, falling asleep 33 minutes later than the previous night, waking up 19 minutes earlier. While losing sleep isn’t easy at any age, those in their 20s likely felt it the most thanks to an extremely late bedtime and a seeming inability to sleep in.
     

     
    Moreover, Sleep Score – calculated based on an evaluation of a users’ total sleep time, awake time, sleep cycle, plus physical and mental recovery – was at the worst level for weeks after DST – and again, people in their 20s appeared to be most affected. When examining in the seven-day Sleep Score average, the 20s age group demonstrated the slowest score recovery rate, while older age groups adapted much quicker. By the third week, Sleep Score for all age groups were still not stable as normal, showing fluctuations in the quality of a good night’s rest.
     

     
    Useful Tips To Help You Get a Good Night’s Sleep and a Quicker Recovery
    The transition into DST clearly affects the sleep patterns of all age groups long after the clocks change, but for younger generations, prioritising sleep management during this time couldn’t be more important. In recognition of World Sleep Day, Samsung is sharing useful tips that make understanding your sleep patterns and habits as seamless and effortless as possible for a better night’s rest.
    Creating an ideal sleep environment is critical to a good night’s sleep. Later this month, Samsung Health app update[ii] will make this possible by providing guidance and analysis on the key factors that influence sleep quality, including temperature, humidity, CO2 and illuminance via a Sleep Environment Report[iii] – leveraging SmartThings and the power of Samsung’s extensive device ecosystem. With a better understanding of how your environment affects sleep, easily optimise your room conditions for an improved night’s rest.
     
    In addition to perfecting your sleep environment, understanding how activity can impact energy level is key. Samsung Health app updates also bring enhancements to Energy Score[iv], which provides an indicator of how much energy users can expend throughout the day. In addition to sleep and heart rate, a new detailed factor about activity – Activity Consistency – will help you understand your overall condition in greater detail by evaluating your activity levels over the past four weeks.
     
    It’s also important to understanding how you’re sleeping and making necessary adjustments through sleep training. Sleep Coaching makes this simple by seamlessly tracking your sleep patterns over 7 days and assigning a sleep animal based on the results. With a personalised coaching program, develop healthy habits and routines that set you on a positive path to achieving your sleep goals.
     
    World Sleep Day serves as an important reminder of the importance of sleep. With the latest Samsung Health app updates and the Galaxy ecosystem, Samsung remains committed to helping users optimise their sleep and lead healthier, more balanced life.
    [i]Findings analysed sleep data of Samsung Health users via Galaxy Watch series during DST in the spring of 2024.
    [ii]Certain features may vary by market, carrier or paired device.
    [iii]Sleep Environment Report feature will be available on smartphone with One UI 7 and Samsung Health app version 6.29.5 or higher, and when device is connected to SmartThings.
    [iv]Galaxy AI features track data and require compatible Samsung Galaxy phone, Samsung Health app and Samsung account.

    MIL OSI Economics –

  • MIL-OSI Economics: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Pune Sahakari Bank Limited, Shivajinagar, Pune – Extension of Period

    Source: Reserve Bank of India

    The Reserve Bank of India, vide directive CO.DOS.SED.No.S8240/12-22-493/2022-2023 dated March 09, 2023, had placed Pune Sahakari Bank Ltd., Shivajinagar, Pune, Maharashtra under Directions from the close of business on March 10, 2023, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to March 10, 2025.

    2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank from close of business on March 10, 2025, till close of business on June 10, 2025, as per the directive DOR.MON.D-108/12-22-493/2024-2025 dated March 04, 2025, subject to review.

    3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated March 04, 2025, notifying the above extension is displayed at the bank’s premises for the perusal of public.

    4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2327

    MIL OSI Economics –

  • MIL-OSI Economics: China Unicom Guangdong, Gree, and Huawei Win GSMA GLOMO’s “Best Private Network Solution” and “Best Mobile Innovation for Connected Economy” Awards

    Source: Huawei

    Headline: China Unicom Guangdong, Gree, and Huawei Win GSMA GLOMO’s “Best Private Network Solution” and “Best Mobile Innovation for Connected Economy” Awards

    [Barcelona, Spain, March 7, 2025] During the MWC Barcelona 2025, China Unicom Guangdong, Gree, and Huawei took home the GSMA Global Mobile (GLOMO) Awards “Best Private Network Solution” and “Best Mobile Innovation for Connected Economy” for their building the 5.5G “lights-out” factory with the 5.5G native private network solution. These awards reflect the industry’s recognition of their achievements as 5.5G native private networks enter large-scale commercial deployment in smart manufacturing.
    The 5.5G native private network solution winning GSMA GLOMO’s “Best Private Network Solution” Award

    China Unicom Guangdong, Gree, and Huawei developed the 5.5G native private network solution to pioneer advancements in core manufacturing processes. Together, they transformed Gree’s Gaolan factory in Zhuhai, China into the world’s largest 5.5G “lights-out” factory. By integrating AI foundation models with 5.5G networks’ ultra-low latency, ultra-high uplink bandwidth, and low-power high-accuracy positioning (LPHAP), the solution has demonstrated its agility, predictability, and coordination in core manufacturing processes such as production, quality inspection and logistics.
    The three companies have deployed tens of thousands of intelligent mobile connections in the factory to enable transformation from automatic to flexible, intelligent, and green manufacturing, leading to an 86% increase in production efficiency. This innovative solution enables the factory to produce 12 million split-type air conditioners annually with zero quality defects.
    The 5.5G “lights-out” factory winning GSMA GLOMO’s “Best Mobile Innovation for Connected Economy” Award

    Chen Zhenghua, General Manager of Gree’s Gaolan factory, said, “5.5G is key to our concept of the next generation ‘lights-out’ factory. With 5.5G networks, RedCap terminals, and management platforms, we have achieved end-to-end device connectivity, intelligent logistics, and online quality inspection. As we move forward, Gree is committed to advancing smart manufacturing in China and making a stronger impact on the global stage.”
    Pan Guixin, Chief Innovation Officer and General Manager of the Network R&D Centre at China Unicom Guangdong, remarked, “I’d like to thank GSMA for acknowledging our innovative achievements in 5.5G native private networks for smart manufacturing, as well as Gree, Huawei, and our other industry partners for their ongoing support. Driven by the powerful capabilities of 5.5G, we have successfully upgraded industrial control, quality inspection, and logistics processes in Gree. In the future, we will explore more innovative application scenarios based on the 5.5G native private network, forming solutions that can be widely replicated and continuously injecting momentum into the manufacturing industry.”
    David Li, Vice President of Huawei Wireless Solution, stated, “I would like to thank GSMA for its high recognition of our 5.5G native private network solution. Huawei will continue to work with operators and industry partners to unleash the potential of 5.5G and AI integration, and drive digital-intelligent transformation of more industries and enterprises across the world.”
    MWC Barcelona 2025 is held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
    In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world.
    For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

    MIL OSI Economics –

  • MIL-OSI Economics: Asian Development Bank and Denmark: Fact Sheet

    Source: Asia Development Bank

    ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet.

    Founded in 1966, ADB is owned by 69 members—49 from the region.

    Headquarters

    6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines

    MIL OSI Economics –

  • MIL-OSI Economics: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – National Mercantile Co-operative Bank Ltd., Lucknow – Extension of period

    Source: Reserve Bank of India

    The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to National Mercantile Co-operative Bank Ltd., Lucknow vide Directive No. LKO.DOS.SED.No.S875/10-03-759/2022-2023 dated March 09, 2023, for a period of six months up to close of business on September 10, 2023, as modified from time to time, which were last extended up to close of business on March 10, 2025 vide Directive DOR.MON/D-81/12-28-015/2024-2025 dated December 05, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on March 10, 2025.

    2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on March 10, 2025, to close of business on June 10, 2025, subject to review.

    3. All other terms and conditions of the Directive under reference shall remain unchanged.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2326

    MIL OSI Economics –

  • MIL-OSI Economics: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan – Extension of period

    Source: Reserve Bank of India

    The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan vide Directive DCBS.CO.BSD-I/D-2/12.27.215/2018-19 dated October 26, 2018, for a period of six months up to May 09, 2019 as modified from time to time, which were last extended up to March 09, 2025 vide Directive DOR.MON/D-77/12.27.215/2024-25 dated December 02, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond March 09, 2025.

    2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on March 09, 2025, to close of business on June 09, 2025, subject to review.

    3. All other terms and conditions of the Directive under reference shall remain unchanged.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2324

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN visits the Resource Centre of the Extraordinary Chambers in the Courts of Cambodia (ECCC)

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today visited the Resource Centre of the Extraordinary Chambers in the Courts of Cambodia (ECCC), where he met with H.E. Kranh Tony, Secretary of State of the Office of the Council of Ministers of Cambodia and Acting Director of the ECCC. They discussed national and regional efforts in disseminating information and sharing Cambodia’s experience in contributing to peacebuilding, reconciliation and post-conflict development within ASEAN.

    During the visit, SG Dr. Kao also met with Mr. Jo Scheuer, the UN Resident Coordinator to Cambodia, and exchanged views on the transformative value of Cambodia’s transitional justice experiences.

    The post Secretary-General of ASEAN visits the Resource Centre of the Extraordinary Chambers in the Courts of Cambodia (ECCC) appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Result of the 14-day Variable Rate Repo (VRR) auction held on March 07, 2025

    Source: Reserve Bank of India

    Tenor 14-day
    Notified Amount (in ₹ crore) 50,000
    Total amount of bids received (in ₹ crore) 8,375
    Amount allotted (in ₹ crore) 8,375
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.26
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2323

    MIL OSI Economics –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on March 07, 2025

    Source: Reserve Bank of India

    Tenor 3-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 3,970
    Amount allotted (in ₹ crore) 3,970
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.26
    Partial Allotment Percentage of bids received at cut off rate (%) N.A.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2322

    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic PR People Vlog #7: International Women’s Day

    Source: Panasonic

    Headline: Panasonic PR People Vlog #7: International Women’s Day

    Han Ying
    I have experience living in China, the US, and currently live in Japan. When I was a university student, I majored in marketing and minored in communications. I joined the Panasonic Group in 2020, and have worked in the PR department ever since. It’s become a custom of mine to go on many trips abroad, and as an ISFJ (Defender), I love to make plans before every trip. Delicious food and dancing are important parts of my life, too.

    MIL OSI Economics –

  • MIL-OSI Economics: Money Market Operations as on March 06, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,34,789.93 5.92 3.50-6.50
         I. Call Money 14,033.49 6.21 5.15-6.35
         II. Triparty Repo 3,36,760.85 5.87 5.60-6.05
         III. Market Repo 1,82,163.69 5.98 3.50-6.50
         IV. Repo in Corporate Bond 1,831.90 6.14 6.08-6.25
    B. Term Segment      
         I. Notice Money** 163.50 6.13 5.75-6.25
         II. Term Money@@ 156.00 – 6.40-7.25
         III. Triparty Repo 630.00 6.12 6.00-6.15
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Thu, 06/03/2025 1 Fri, 07/03/2025 4,442.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Thu, 06/03/2025 1 Fri, 07/03/2025 1,687.00 6.50
    4. SDFΔ# Thu, 06/03/2025 1 Fri, 07/03/2025 1,80,550.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,74,421.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 21/02/2025 14 Fri, 07/03/2025 41,046.00 6.26
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Fri, 21/02/2025 45 Mon, 07/04/2025 57,951.00 6.26
      Fri, 14/02/2025 49 Fri, 04/04/2025 75,003.00 6.28
      Fri, 07/02/2025 56 Fri, 04/04/2025 50,010.00 6.31
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,320.03  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     2,31,330.03  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     56,909.03  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on March 06, 2025 9,00,344.94  
         (ii) Average daily cash reserve requirement for the fortnight ending March 07, 2025 9,22,740.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ March 06, 2025 4,442.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on February 07, 2025 -1,973.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2013 dated January 27, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2320

    MIL OSI Economics –

  • MIL-OSI Economics: [MWC 2025] Powered by Awesome Intelligence: Introducing the Galaxy A56 5G and A36 5G

    Source: Samsung

    Samsung Electronics unveiled the latest additions to the Galaxy A series at Mobile World Congress 2025 in Barcelona. The Galaxy A56 5G and A36 5G mark the first time the Galaxy A series has come equipped with Awesome Intelligence, making them smarter and more appealing than ever — a true embodiment of the Galaxy A series’ commitment to bringing innovative Galaxy experiences to everyone.
     
    Samsung Newsroom explored the Galaxy A56 5G and A36 5G, highlighting four key elements that set them apart.
     
     
    1. Stylish — A Sleek and Compact Design
    The Iconic Galaxy A Series Look, Now More Refined
    The Galaxy A56 5G and A36 5G take the signature design of the Galaxy A series to the next level, blending modern sophistication with a sleek aesthetic. The first thing that catches the eye is their slim, flat frame.
     
    The Galaxy A56 5G features a polished metal frame, available in a range of stylish colors. The A56 5G’s colorways stand out with their milky matte finish, while the A36 5G’s color options captivate with their holographic effects.
     
    ▲ The Galaxy A56 5G will be available in Awesome Pink, Awesome Olive, Awesome Lightgray and Awesome Graphite, while the Galaxy A36 5G will come in Awesome Lime, Awesome Black, Awesome Lavender and Awesome White.
     
    Their minimalist yet elegant rear design features a clean, vertically aligned three-lens camera layout with black camera rings that further enhance the refined aesthetic.
     
    ▲ (From left to right) The rear of the Galaxy A56 5G and A36 5G with their linear three-lens camera layout and black camera rings
     
     
    A Slimmer and Lighter Body
    Both the Galaxy A56 5G and A36 5G feature a 6.7-inch screen, 0.1 inch larger than that of their predecessors. The FHD+ Super AMOLED display delivers a peak brightness of 1,200 nits — 200 nits brighter than before — ensuring an even more immersive and vivid viewing experience.
     
    Trimmed down by 0.8mm compared to their predecessors, both models also sport a slimmer profile at just 7.4mm thick, offering a firm yet comfortable grip when held. The flat key island design on the sides complement the streamlined aesthetic, adding to the devices’ refined look.
     
    Thanks to their slimmer design, both devices are also lighter than the previous models, despite having larger displays. The Galaxy A56 5G weighs 198g — 15g lighter than its predecessor, while the Galaxy A36 5G shed 14g to come in at 195g.
     
    ▲ The slim 7.4mm profile combined with the flat frame and key island design offers a firm, comfortable grip when held.
     
     
    2. Versatile and Intelligent — Fueled by Awesome Intelligence
    Searching Made Simple With Circle to Search
    Circle to Search makes finding information effortless. All users need to do is long press the home button , then draw a circle around anything interesting they see on their screen and watch in awe as Google provides relevant search results in an instant.
     
    
    ▲ Circle to Search makes image searching a breeze.
     
    And it’s not just for images! Circle to Search now recognizes music as well — for example, the background music playing in a video. When watching something on YouTube, simply long press the home button. Then tap the music button to instantly find the name of the song featured in the video and the artist who sings it. That same song can be identified even when sung or hummed by a person, instead of being played from the video’s original audio.
     
    
    ▲ Circle to Search can also recognize and identify music in an instant.
     
     
    3. Picture-Perfect — Smarter Camera Features and Photo-Editing Tools
    Nightography and Object Eraser — Flawless Selfies Even at Night
    Imagine taking in the atmosphere during a nighttime walk and snapping a selfie, only to be disappointed by the noise in the final image. Or perhaps a scenario where a countless number of selfies had to be taken before realizing none of them quite achieved the right look. With the enhanced Nightography feature on the Galaxy A56 5G, those frustrations are a thing of the past. Clear, vibrant selfies can be captured even at night with a 12MP front camera optimized to reduce noise and deliver smoother results.
     
    Unwanted objects in the background can take away from the perfect selfie as well. Simply trace around those objects to remove them, and Object Eraser will seamlessly fill in the space where they originally were to blend naturally with the background, resulting in a clean, crisp photo.
     
    ▲ Clear, vibrant selfies can be taken even at night with Nightography.
     
     
    Custom Camera Filters for Standout Selfies
    Some portrait photos on social media just have that one vibe, an unmistakable look hard to find anywhere else. Instead of scrolling past those images, why not save them? With the Filters feature, users can easily create their own custom camera filters using saved images. Achieving the perfect selfie with the desired aesthetic has never been easier.
     

    ▲ The Filters feature provides users with custom camera filters.
     
     
    Best Face — Perfect Group Photos Everyone Will Love
    Group selfies don’t always go as planned — someone could be blinking or have an awkward expression on their face. But with the Best Face feature, those slip-ups are an easy fix. Best Face analyzes the multiple frames of pictures taken using Motion Photo to recommend the best ones. All that is left for Galaxy A56 5G users to do afterwards is simply browse through the suggested frames and select a flawless group selfie where everyone looks their best.
     
    
    ▲ The Best Face feature makes sure users look their very best in photos.
     
     
    4. Powerful and Secure — Enhanced Privacy Safeguards
    The Galaxy A56 5G and A36 5G are the first in the Galaxy A series to feature One UI 7, offering more robust security than ever before. One key highlight is the hardware-backed Knox Vault, which combines a secure processor with secure memory to isolate users’ most sensitive data — like personal identification numbers (PINs) and passwords — from the rest of their device and ensure that no one else can physically or remotely access them. The new smartphones also come equipped with a range of extensive security innovations, including an enhanced Auto Blocker — Galaxy’s opt-in package of security measures that prevents unauthorized app installations and other security threats — and the new Theft Protection feature, which ensures personal data is protected even when devices are lost or stolen.
     
    Samsung also promises six years of security updates along with up to six generations of Android OS and One UI upgrades for the Galaxy A56 5G and A36 5G, ensuring a secure and reliable mobile experience for years to come.
     
    The Galaxy A series is back with cutting-edge innovations. With the Awesome Intelligence-integrated Galaxy A56 5G and A36 5G, Samsung looks forward to seeing even more people enjoy an Awesome lifestyle.

    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic in Numbers: Solar Lantern Donation in Kenya

    Source: Panasonic

    Headline: Panasonic in Numbers: Solar Lantern Donation in Kenya

    Panasonic Holdings, in cooperation with the Japan International Cooperation Agency (JICA), has donated 100 Panasonic solar lanterns to women and girls living without electricity in Orinie Village in Kajiado County, Kenya. The donation was conducted through Kenya’s National Gender and Equality Commission (NGEC).The initiative aims to help eliminate gender-based violence (GBV), which causes up to 3.7% loss of a country’s GDP*, by encouraging women’s economic independence and helping build knowledge and confidence through electrification.“The solar lanterns offer great hope to women and girls… The lanterns mean that they can also study at home, and are able to perform work at night at home to improve their income,” commented a female leader in Orinie Village**.
    * https://www.worldbank.org/en/topic/socialsustainability/brief/violence-against-women-and-girls** https://news.panasonic.com/global/topics/16518

    MIL OSI Economics –

  • MIL-OSI Economics: Women’s History Month: Why different perspectives in cybersecurity and AI matter more than ever

    Source: Microsoft

    Headline: Women’s History Month: Why different perspectives in cybersecurity and AI matter more than ever

    This Women’s History Month serves as a crucial moment for us to lead and continue to pave the way for a more inclusive future. I am truly honored to support my amazing women colleagues who continue to excel in their careers and am grateful to have so many allies who have extended their hands to help guide and shape me to the person I am today.  

    Just last week I was in Tokyo for the Japan Security Forum, where Miki Tsusaka, the President of Microsoft Japan and I had a great conversation during a CyberWomen Asia fireside chat about the importance of women in cybersecurity. Following the chat was a panel discussion with Tsutaki-san, Security leader at Yamaha Motor Corporation and Debbie Furtado, one of our bright Principal group engineering managers. The event highlighted our different perspectives and talents which are invaluable to drive innovation and progress across various industries. I am proud to be a part of Microsoft Security, which is focused on building and nurturing an inclusive cybersecurity workforce and curating careers, tools, and resources that work for everyone. We recognize that this promotes business growth, strengthens global defenses, and enhances AI safety. 

    According to the World Economic Forum, gender equality in entrepreneurship drives economic growth and innovation.1 McKinsey and Company has also observed that closing the gender gap in employment and entrepreneurship could increase global GDP by 20%, and that organizations with 30% or more women on executive teams are 27% more likely to achieve higher profitability.2  

    For a better future we need everyone in the journey and this is particularly of significance in cybersecurity where we face a critical shortage of talent and where cyberthreat actors are from diverse backgrounds.  

    Cybersecurity Awareness

    Empower everyone to be a cyber defender with resources and training curated by the security experts at Microsoft.

    Addressing the skills gap in cybersecurity and AI

    There is a significant talent gap in cybersecurity. The 2024 ISC2 Cybersecurity Workforce Study reports a global shortage of 4.7 million skilled workers.3 This worker shortage has been a significant challenge the past 12 months and is expected to continue for the next two years. To address this growing concern, we must embrace a wide range of perspectives and backgrounds to foster innovation and find more effective solutions to these challenges.   

    By incorporating individuals with varied perspectives, experiences, and approaches within the cybersecurity workforce, we can enhance problem-solving capabilities and enhance strategic defenses.   

    Cybercriminals come from various cultures and backgrounds, bringing different perspectives. Security professionals with varied backgrounds and perspectives can provide creative approaches and unique insights to counter these cyberthreats.  Likewise, for AI, having different backgrounds and perspectives help with AI safety and biases. 

    Continue to deepen expertise and invite different perspectives

    While progress has been made in creating opportunities for women in cybersecurity, significant work remains to remove entry barriers. It is essential to continue our efforts to improve representation in cybersecurity by creating new pathways and gaining support from more allies. I wholeheartedly encourage you to actively contribute to this objective through the many organizations and programs available and by doing the following: 

    • Share the accomplishments of meaningful role models with a wide range of experiences and perspectives. 
    • Adjust job requirements to remove potential biases. 
    • Offer inclusive training that encourages professionals, particularly those in their early careers, and encourage them to advance their skills in cybersecurity. 
    • Volunteer for educational programs that include cybersecurity and AI training. 
    • Reach out to community groups that advocate for mentorship opportunities. 
    • Act as an ally and create opportunities for those interested in cybersecurity careers, such as by encouraging them to participate and speak up and introducing them to peers. 

    Security should be for all and we are all in this together. Together, we can enhance the global security workforce and contribute to a promising future.  

    Register for our upcoming panel “Harnessing Diversity – Strengthening the Cybersecurity Workforce in the Age of AI” and visit Microsoft’s cybersecurity awareness page for resources and training provided by Microsoft security experts, enabling everyone in your organization to become a cyber defender. Let us all acknowledge the importance of diversity in cybersecurity and its critical role in safeguarding our future and shaping a history we can be proud of. 

    To learn more about Microsoft Security solutions, visit our website. Bookmark the Security blog to keep up with our expert coverage on security matters. Also, follow us on LinkedIn (Microsoft Security) and X (@MSFTSecurity) for the latest news and updates on cybersecurity.

    1Advancing gender parity in entrepreneurship: strategies for a more equitable future, World Economic Forum. January 20, 2025.

    2Diversity matters even more: The case for holistic impact, McKinsey and Company. December 5, 2023.

    32024 ISC2 Cybersecurity Workforce Study, ISC2. October 31, 2024.

    MIL OSI Economics –

  • MIL-OSI Economics: Silk Typhoon espionage group now targeting IT supply chain

    Source: Microsoft

    Headline: Silk Typhoon espionage group now targeting IT supply chain

    Executive summary:
    Microsoft Threat Intelligence identified a shift in tactics by Silk Typhoon, a Chinese espionage group, now targeting common IT solutions like remote management tools and cloud applications to gain initial access. While they haven’t been observed directly targeting Microsoft cloud services, they do exploit unpatched applications that allow them to elevate their access in targeted organizations and conduct further malicious activities. After successfully compromising a victim, Silk Typhoon uses the stolen keys and credentials to infiltrate customer networks where they can then abuse a variety of deployed applications, including Microsoft services and others, to achieve their espionage objectives. Our latest blog explains how Microsoft security solutions detect these threats and offers mitigation guidance, aiming to raise awareness and strengthen defenses against Silk Typhoon’s activities.

    Silk Typhoon is an espionage-focused Chinese state actor whose activities indicate that they are a well-resourced and technically efficient group with the ability to quickly operationalize exploits for discovered zero-day vulnerabilities in edge devices. This threat actor holds one of the largest targeting footprints among Chinese threat actors. Part of this is due to their opportunistic nature of acting on discoveries from vulnerability scanning operations, moving quickly to the exploitation phase once they discover a vulnerable public-facing device that they could exploit.

    As a result, Silk Typhoon has been observed targeting a wide range of sectors and geographic regions, including but not limited to information technology (IT) services and infrastructure, remote monitoring and management (RMM) companies, managed service providers (MSPs) and affiliates, healthcare, legal services, higher education, defense,  government, non-governmental organizations (NGOs), energy, and others located in the United States and throughout the world.

    Silk Typhoon has shown proficiency in understanding how cloud environments are deployed and configured, allowing them to successfully move laterally, maintain persistence, and exfiltrate data quickly within victim environments. Since Microsoft Threat Intelligence began tracking this threat actor in 2020, Silk Typhoon has used a myriad of web shells that allow them to execute commands, maintain persistence, and exfiltrate data from victim environments.

    As with any observed nation-state threat actor activity, Microsoft has directly notified targeted or compromised customers, providing them with important information needed to secure their environments. We’re publishing this blog to raise awareness of Silk Typhoon’s recent and long-standing malicious activities, provide mitigation and hunting guidance, and help disrupt operations by this threat actor.

    Recent Silk Typhoon activity

    Supply chain compromise

    Since late 2024, Microsoft Threat Intelligence has conducted thorough research and tracked ongoing attacks performed by Silk Typhoon. These efforts have significantly enhanced our understanding of the actor’s operations and uncovered new tradecraft used by the actor. In particular, Silk Typhoon was observed abusing stolen API keys and credentials associated with privilege access management (PAM), cloud app providers, and cloud data management companies, allowing the threat actor to access these companies’ downstream customer environments. Companies within these sectors are possible targets of interest to the threat actor. The observations below were observed once Silk Typhoon successfully stole the API key:

    • Silk Typhoon used stolen API keys to access downstream customers/tenants of the initially compromised company.
    • Leveraging access obtained via the API key, the actor performed reconnaissance and data collection on targeted devices via an admin account. Data of interest overlaps with China-based interests, US government policy and administration, and legal process and documents related to law enforcement investigations.
    • Additional tradecraft identified included resetting of default admin account via API key, web shell implants, creation of additional users, and clearing logs of actor-performed actions.
    • Thus far the victims of this downstream activity were largely in the state and local government, and the IT sector.

    Password spray and abuse

    Silk Typhoon has also gained initial access through successful password spray attacks and other password abuse techniques, including discovering passwords through reconnaissance. In this reconnaissance activity, Silk Typhoon leveraged leaked corporate passwords on public repositories, such as GitHub, and were successfully authenticated to the corporate account. This demonstrates the level of effort that the threat actor puts into their research and reconnaissance to collect victim information and highlights the importance of password hygiene and the use of multifactor authentication (MFA) on all accounts.

    Silk Typhoon TTPs

    Initial access

    Silk Typhoon has pursued initial access attacks against targets of interest through development of zero-day exploits or discovering and targeting vulnerable third-party services and software providers. Silk Typhoon has also been observed gaining initial access via compromised credentials. The software or services targeted for initial access focus on IT providers, identity management, privileged access management, and RMM solutions.

    In January 2025, Silk Typhoon was also observed exploiting a zero-day vulnerability in the public facing Ivanti Pulse Connect VPN (CVE-2025-0282). Microsoft Threat Intelligence Center reported the activity to Ivanti, which led to a rapid resolution of the critical exploit, significantly reducing the period that highly skilled and sophisticated threat actors could leverage the exploit.

    Lateral movement to cloud

    Once a victim has been successfully compromised, Silk Typhoon is known to utilize common yet effective tactics to move laterally from on-premises environments to cloud environments. Once the threat actor has gained access to an on-premises environment, they look to dump Active Directory, steal passwords within key vaults, and escalate privileges. Furthermore, Silk Typhoon has been observed targeting Microsoft AADConnect servers in these post-compromise activities. AADConnect (now Entra Connect) is a tool that synchronizes on-premises Active Directory with Entra ID (formerly Azure AD). A successful compromise of these servers could allow the actor to escalate privileges, access both on-premises and cloud environments, and move laterally.

    Manipulating service principals/applications

    While analyzing post-compromise tradecraft, Microsoft identified Silk Typhoon abusing service principals and OAuth applications with administrative permissions to perform email, OneDrive, and SharePoint data exfiltration via MSGraph. Throughout their use of this technique, Silk Typhoon has been observed gaining access to an application that was already consented within the tenant to harvest email data and adding their own passwords to the application. Using this access, the actors can steal email information via the MSGraph API. Silk Typhoon has also been observed compromising multi-tenant applications, potentially allowing the actors to move across tenants, access additional resources within the tenants, and exfiltrate data.

    If the compromised application had privileges to interact with the Exchange Web Services (EWS) API, the threat actors were seen compromising email data via EWS.

    In some instances, Silk Typhoon was seen creating Entra ID applications in an attempt to facilitate this data theft. The actors would typically name the application in a way to blend into the environment by using legitimate services or Office 365 themes.

    Use of covert networks

    Silk Typhoon is known to utilize covert networks to obfuscate their malicious activities. Covert networks, tracked by Microsoft as “CovertNetwork”, refer to a collection of egress IPs consisting of compromised or leased devices that may be used by one or more threat actors. Silk Typhoon was observed utilizing a covert network that is comprised of compromised Cyberoam appliances, Zyxel routers, and QNAP devices. The use of covert networks has become a common tactic among various threat actors, particularly Chinese threat actors.

    Historical Silk Typhoon zero-day exploitation

    Since 2021, Silk Typhoon has been observed targeting and compromising vulnerable unpatched Microsoft Exchange servers, GlobalProtect Gateway on Palo Alto Networks firewalls, Citrix NetScaler appliances, Ivanti Pulse Connect Secure appliances, and others. While not exhaustive, below are historical zero-day vulnerabilities that Silk Typhoon was observed compromising for initial access into victim environments.

    GlobalProtect Gateway on Palo Alto Networks Firewalls

    In March 2024, Silk Typhoon used a zero-day exploit for CVE-2024-3400 in GlobalProtect Gateway on Palo Alto Networks firewalls to compromise multiple organizations:

    • CVE-2024-3400 – A command injection as a result of arbitrary file creation vulnerability in the GlobalProtect feature of Palo Alto Networks PAN-OS software for specific PAN-OS versions and distinct feature configurations may enable an unauthenticated attacker to execute arbitrary code with root privileges on the firewall.

    Citrix NetScaler ADC and NetScaler Gateway

    In early 2024, Microsoft began to observe Silk Typhoon compromising zero-day vulnerabilities within Citrix NetScaler ADC and NetScaler Gateways:

    • CVE-2023-3519 – An unauthenticated remote code execution (RCE) vulnerability affecting NetScaler (formerly Citrix) Application Delivery Controller (ADC) and NetScaler Gateway

    Microsoft Exchange Servers

    In January 2021, Microsoft began to observe Silk Typhoon compromising zero-day vulnerabilities in Microsoft Exchange Servers. Upon discovery, Microsoft addressed those issues and issued security updates along with related guidance (related links below):

    • CVE-2021-26855 – A server-side request forgery (SSRF) vulnerability in Exchange that could allow an attacker to send arbitrary HTTP requests and authenticate as the Exchange server.
    • CVE-2021-26857 – An insecure deserialization vulnerability in the Unified Messaging service. Insecure deserialization is where untrusted user-controllable data is deserialized by a program. Exploiting this vulnerability gave Silk Typhoon the ability to run code as SYSTEM on the Exchange server. This requires administrator permission or another vulnerability to be exploited.
    • CVE-2021-26858 – A post-authentication arbitrary file write vulnerability in Exchange. If Silk Typhoon could authenticate with the Exchange server, then it could use this vulnerability to write a file to any path on the server. It could authenticate by exploiting the CVE-2021-26855 SSRF vulnerability or by compromising a legitimate administrator’s credentials.
    • CVE-2021-27065 – A post-authentication arbitrary file write vulnerability in Exchange. If Silk Typhoon could authenticate with the Exchange server, then it could use this vulnerability to write a file to any path on the server. It could authenticate by exploiting the CVE-2021-26855 SSRF vulnerability or by compromising a legitimate administrator’s credentials.

    During recent activities and historical exploitation of these appliances, Silk Typhoon utilized a variety of web shells to maintain persistence and to allow the actors to remotely access victim environments.

    Hunting guidance

    To help mitigate and surface various aspects of recent Silk Typhoons activities, Microsoft recommends the following:

    • Inspect log activity related to Entra Connect serversfor anomalousactivity.
    • Where these targeted applications have highly privileged accounts, inspect service principals for newly created secrets (credentials).
    • Identify and analyze any activity related to newly created applications.
    • Identify all multi-tenant applications and scrutinize authentications to them.
    • Analyze any observed activity related to use of Microsoft Graph or eDiscovery particularly for SharePoint or email data exfiltration
    • Look for newly created users on devices impacted by vulnerabilities targeted by Silk Typhoon and investigate virtual private network (VPN) logs for evidence of VPN configuration modifications or sign-in activity during the possible window of compromise of unpatched devices.

    Microsoft Sentinel

    Microsoft Sentinel customers can use the TI Mapping analytics (a series of analytics all prefixed with ‘TI map’) to automatically match the malicious domain indicators mentioned in this blog post with data in their workspace. If the TI Map analytics are not currently deployed, customers can install the Threat Intelligence solution from the Microsoft Sentinel Content Hub to have the analytics rule deployed in their Sentinel workspace.

    Microsoft Sentinel customers can use the following queries to detect behavior associated with Silk Typhoon:

    Customers can use the following query to detect vulnerabilities exploited by Silk Typhoon:

    DeviceTvmSoftwareVulnerabilities
| where CveId in ("CVE-2025-0282")
| project DeviceId,DeviceName,OSPlatform,OSVersion,SoftwareVendor,SoftwareName,SoftwareVersion,
CveId,VulnerabilitySeverityLevel
| join kind=inner ( DeviceTvmSoftwareVulnerabilitiesKB | project CveId, CvssScore,IsExploitAvailable,VulnerabilitySeverityLevel,PublishedDate,VulnerabilityDescription,AffectedSoftware ) on CveId
| project DeviceId,DeviceName,OSPlatform,OSVersion,SoftwareVendor,SoftwareName,SoftwareVersion,
CveId,VulnerabilitySeverityLevel,CvssScore,IsExploitAvailable,PublishedDate,VulnerabilityDescription,AffectedSoftware

    Recommendations

    To help detect and mitigate Silk Typhoon’s activity, Microsoft recommends the following:

    • Ensure all public facing devices are patched. It’s important to note that patching a vulnerable device does not remediate any post-compromise activities by a threat actor who gained privileged access to a vulnerable device.
    • Validate any Ivanti Pulse Connect VPN are patched to address CVE-2025-0282 and run the suggested Integrity Checker Tool as suggested in their Advisory. Consider terminating any active or persistent sessions following patch cycles.
    • Defend against legitimate application and service principal abuse by establishing strong controls and monitoring for these security identities. Microsoft recommends the following mitigations to reduce the impact of this threat:
      • Audit the current privilege level of all identities, users, service principals, and Microsoft Graph Data Connect applications (use the Microsoft Graph Data Connect authorization portal) to understand which identities are highly privileged. Scrutinize privileges more closely if they belong to an unknown identity, belong to identities that are no longer in use, or are not fit for purpose. Admins may assign identities privileges over and above what is required. Defenders should pay attention to apps with app-only permissions as those apps might have over-privileged access. Read additional guidance for investigating compromised and malicious applications.
      • Identify abused OAuth apps using anomaly detection policies. Detect abused OAuth apps that make sensitive Exchange Online administrative activities through App governance. Investigate and remediate any risky OAuth apps.
      • Review any applications that hold EWS.AccessAsUser.All and EWS.full_access_as_app permissions and understand whether they are still required in the tenant. If they are no longer required, they should be removed.
      • If applications must access mailboxes, granular and scalable access can be implemented using role-based access control for applications in Exchange Online. This access model ensures applications are only granted to the specific mailboxes required.
    • Monitor for service principal sign-ins from unusual locations. Two important reports can provide useful daily activity monitoring:
      • The risky sign-ins report surfaces attempted and successful user access activities where the legitimate owner might not have performed the sign-in. 
      • The risky users report surfaces user accounts that might have been compromised, such as a leaked credential that was detected or the user signing in from an unexpected location in the absence of planned travel. 
    • Defend against credential compromise by building credential hygiene, practicing the principle of least privilege, and reducing credential exposure. Microsoft recommends the following mitigations to reduce the impact of this threat.
    • Implement the Azure Security Benchmark and general best practices for securing identity infrastructure, including:
      • Prevent on-premises service accounts from having direct rights to the cloud resources to prevent lateral movement to the cloud.
      • Ensure that “break glass” account passwords are stored offline and configure honey-token activity for account usage.
      • Implement Conditional Access policies enforcing Microsoft’s Zero Trust principles.
    • Enable risk-based user sign-in protection and automate threat response to block high-risk sign-ins from all locations and enable multifactor authentication (MFA) for medium-risk ones.
    • Ensure that VPN access is protected using modern authentication methods.
    • Identify all multi-tenant applications, assess permissions, and investigate suspicious sign-ins.

    Indicators of compromise

    Silk Typhoon is not known to use their own dedicated infrastructure in their operations. Typically, the threat actor uses compromised covert networks, proxies, and VPNs for infrastructure, likely to obfuscate their operations. However, they have also been observed using short-lease virtual private server (VPS) infrastructure to support their operations.

    Microsoft Defender XDR detections

    Microsoft Defender XDR customers can refer to the list of applicable detections below. Microsoft Defender XDR coordinates detection, prevention, investigation, and response across endpoints, identities, email, apps to provide integrated protection against attacks like the threat discussed in this blog.

    Customers with provisioned access can also use Microsoft Security Copilot in Microsoft Defender to investigate and respond to incidents, hunt for threats, and protect their organization with relevant threat intelligence.

    Microsoft Defender for Endpoint

    The following Microsoft Defender for Endpoint alerts can indicate associated threat activity:

    • Silk Typhoon activity group

    The following alerts might also indicate threat activity related to this threat. Note, however, that these alerts can be also triggered by unrelated threat activity.

    • Possible exploitation of Exchange Server vulnerabilities
    • Suspicious web shell detected
    • Suspicious Active Directory snapshot dump
    • Suspicious credential dump from NTDS.dit

    Microsoft Defender for Identity

    The following Microsoft Defender for Identity alerts can indicate associated threat activity:

    • Suspicious Interactive Logon to the Entra Connect Server
    • Suspicious writeback by Entra Connect on a sensitive user
    • User Password Reset by Entra Connect Account
    • Suspicious Entra sync password change

    Microsoft Defender XDR

    The following alerts might indicate threat activity related to this threat. Note, however, that these alerts can be also triggered by unrelated threat activity.

    • Suspicious activities related to Azure Key Vault by a risky user

    Microsoft Defender for Cloud

    The following alerts might indicate threat activity related to this threat. Note, however, that these alerts can be also triggered by unrelated threat activity.

    • Unusual user accessed a key vault
    • Unusual application accessed a key vault
    • Access from a suspicious IP to a key vault
    • Denied access from a suspicious IP to a key vault

    Microsoft Defender for Cloud Apps

    The following Microsoft Defender for Cloud Apps alerts can indicate associated threat activity if app governance is enabled:

    • Unusual addition of credentials to an OAuth app
    • Suspicious credential added to dormant app
    • Unused app newly accessing APIs
    • App with suspicious metadata has Exchange permission
    • App with an unusual user agent accessed email data through Exchange Web Services
    • App with EWS application permissions accessing numerous emails
    • App made anomalous Graph calls to Exchange workload post certificate update or addition of new credentials
    • Suspicious user created an OAuth app that accessed mailbox items
    • Suspicious OAuth app used for collection activities using Graph API
    • Risky user updated an app that accessed Email and performed Email activity through Graph API
    • Suspicious OAuth app email activity through Graph API
    • Suspicious OAuth app email activity through EWS API

    Microsoft Defender Vulnerability Management

    Microsoft Defender Vulnerability Management surfaces devices that may be affected by the following vulnerabilities used in this threat:

    • CVE-2021-26855
    • CVE-2021-26857
    • CVE-2021-26858
    • CVE-2021-27065

    Microsoft Defender External Attack Surface Management

    Attack Surface Insights with the following title can indicate vulnerable devices on your network but is not necessarily indicative of exploitation:

    • [Potential] CVE-2024-3400 – Palo Alto Networks PAN-OS Command Injection Vulnerability’
    • [Potential] CVE-2023-3519 – Citrix NetScaler ADC and Gateway Unauthenticated
    • ProxyLogon – Microsoft Exchange Server Vulnerabilities (Hotfix Available)

    Note: An Attack Surface Insight marked as [Potential] indicates a service is running but cannot validate whether that service is running a vulnerable version. Customers should check resources to verify that they are up to date as part of their investigation.

    Microsoft Security Copilot

    Security Copilot customers can use the standalone experience to create their own prompts or run the following pre-built promptbooks to automate incident response or investigation tasks related to this threat:

    • Incident investigation
    • Microsoft User analysis
    • Threat actor profile
    • Threat Intelligence 360 report based on MDTI article (see Threat intelligence reports below)
    • Vulnerability impact assessment

    Note that some promptbooks require access to plugins for Microsoft products such as Microsoft Defender XDR or Microsoft Sentinel.

    Threat intelligence reports

    Microsoft customers can use the following reports in Microsoft products to get the most up-to-date information about the threat actor, malicious activity, and techniques discussed in this blog. These reports provide the intelligence, protection information, and recommended actions to prevent, mitigate, or respond to associated threats found in customer environments.

    Microsoft Defender Threat Intelligence

    Microsoft Security Copilot customers can also use the Microsoft Security Copilot integration in Microsoft Defender Threat Intelligence, either in the Security Copilot standalone portal or in the embedded experience in the Microsoft Defender portal to get more information about this threat actor.

    Learn more

    For the latest security research from the Microsoft Threat Intelligence community, check out the Microsoft Threat Intelligence Blog: https://aka.ms/threatintelblog.

    To get notified about new publications and to join discussions on social media, follow us on LinkedIn at https://www.linkedin.com/showcase/microsoft-threat-intelligence, and on X (formerly Twitter) at https://x.com/MsftSecIntel.

    To hear stories and insights from the Microsoft Threat Intelligence community about the ever-evolving threat landscape, listen to the Microsoft Threat Intelligence podcast: https://thecyberwire.com/podcasts/microsoft-threat-intelligence.

    MIL OSI Economics –

  • MIL-OSI Economics: APEC Strengthens Science and Innovation Ties, Boosts Collaboration and Inclusive Development Gyeongju, Republic of Korea | 07 March 2025 APEC Policy Partnership on Science, Technology and Innovation

    Source: APEC – Asia Pacific Economic Cooperation

    The APEC Policy Partnership on Science, Technology, and Innovation (PPSTI) opened its 25th meeting last week in Gyeongju, Korea, laying the foundation for discussions on emerging technologies, strengthening scientific collaboration, and fostering inclusive development.

    This year marks a transformative period for PPSTI as the group works towards updating its 10-year strategic plan and strengthening collaboration across economies. In her opening remarks, PPSTI Chair Rahima Kandahari underscored the significance of this year’s meeting, emphasizing the group’s commitment to advancing the APEC Putrajaya Vision 2040.

    She highlighted the endorsement of the Mission Oriented Innovation Policy (MOIP), a multi-year process aimed at enhancing the quality and impact of PPSTI initiatives.

    “MOIP is a major milestone and an important step to strengthen the quality and impact of PPSTI projects and, more broadly, support the longevity and efficacy of PPSTI by aligning with expectations set forth by the Steering Committee on ECOTECH,” said Kandahari. “I believe that our combined efforts to implement this approach over the course of this year and beyond will ensure we meet our goals and address broader, grand challenges.”

    Members focused their discussions and showed support for strengthening research collaboration, enhancing talent mobility—including the proposed APEC Scientists Exchange Initiative—and maximizing the socio-economic value of emerging technologies such as quantum science, artificial intelligence, and biotech. Other topics include this year’s key tasks such as boosting science and technology capacity and open science.

    PPSTI Vice Chair Hazami Habib reinforced the importance of innovation in driving economic and social progress, noting that PPSTI provides a platform to address issues such as public health, food security, and digital transformation. “By working together, we can create a robust framework that supports research innovation and adoption of emerging technologies, ensuring that all APEC economies can benefit,” she said.

    Korea’s Ministry of Science and ICT Director General Sunghoon Hwang emphasized the economy’s long-standing commitment to science and technology-driven development. He remarked that Gyeongju, with its rich history and cultural significance, serves as an inspiring backdrop for the discussions on advancing cooperation and talent exchange in APEC.

    “Digital innovation, including generative AI, has brought changes we’ve never seen before. We are also facing complex changes that cannot be tackled by one economy alone,” Hwang said. “Against this backdrop, APEC cooperation and PPSTI discussions on science, technology and innovation have become more important than ever.”

    A major highlight of the meeting was the announcement of the APEC Science Prize for Innovation, Research, and Education (ASPIRE). This annual award recognizes young scientists from APEC economies who have made outstanding contributions to sustainable growth and innovation. Korea, this year’s APEC host economy, has committed to supporting ASPIRE and ensuring its continued success.

    “We really want to keep ASPIRE because it has a very high reputation in the field of science and technology innovation,” said Dr Hwanil Park, PPSTI Vice Chair and host representative. “This year, Korea will sponsor the award. However, for long-term sustainability, we need to discuss and reach a consensus on future sponsorship.”

    Under the 2025 theme, “Leading Inclusive Development with APEC Human Resources, Powered by Open Innovation and Emerging Technologies,” PPSTI aims to drive impactful cooperation in science, technology, and innovation.

    The forum’s three key priorities for the year include: strengthening STI capacity through enhanced exchanges of scientists, including women and youth; fostering research and development collaboration through open innovation to address grand challenges; and enhancing linkages by maximizing the socio-economic value of emerging technologies.

    For further details, please contact:

    APEC Media at [email protected] 

    MIL OSI Economics –

  • MIL-OSI Economics: Transcript of COM Regular Press Briefing, March 6, 2025

    Source: International Monetary Fund

    March 6, 2025

    SPEAKER:  Ms. Julie Kozack, Director of the Communications Department, IMF

     *  *  *  *  *

    MS. KOZACK: Good morning, everyone, and welcome to this IMF press briefing. It is very good to see you all, both those of you who are here in person and, of course, our colleagues online as well.

    I am Julie Kozak, Director of the Communications Department. As usual, this briefing is embargoed until 11 a.m. Eastern Time in the U.S. I will start with a short announcement and then take your questions in person on Webex and via the Press Center. 

    The 2025 Spring Meetings of the IMF and World Bank Group will take place from Monday, April 21 through Saturday, April 26. Press registration to attend the spring meetings in person in Washington D.C. is now open and you can register through www.IMFconnect.org. 

    And with that, I will now open the floor for your questions. For those connecting virtually, please turn on both your camera and microphone when speaking. And with that, over to you. 

    QUESTIONER: If the Congress does not approve the future agreement, as it is established by the local law, does the IMF give the money to Argentina? 

    MS. KOZACK: Okay, so that is a question on Argentina. Any other questions on Argentina? I do not see any hands up in the room. Let us go online. QUESTIONER: Do you think we are already in the final stage? And what remains to announce the Staff Agreement with the IMF?

    QUESTIONER: Good morning. I was wondering about also there have been versions of a new loan up to $20 billion and the first deployment of $8 billion this year. Can you confirm that, or can you give us an insight into the fresh funds that could be coming in the new agreement? And also, when can we expect a signing of the letter of intent? 

    QUESTIONER: So, my question is about the Congress. President Milei confirmed that the staff-level agreement must be approved by the Parliament as indicated by the Argentine law. So, is that also a requirement from the IMF itself or could the President sign a decree avoiding the current law that requires the staff-level agreement to be approved by Parliament. 

    QUESTIONER: I want to ask about the scope of the potential agreement with Argentina. There are reports out saying it could be as high, or there is an expectation it could be as high as $20 billion.

    QUESTIONER: I think a few people have already asked, but when [do] you expect to reach a staff-level agreement, whether, as the Argentine government has said, it is only the final numbers that need to be agreed and not other technical aspects? And whether the IMF requires that the entirety of the SLA be reviewed by Congress for approval or if whether a general outline produced by the government will be enough? 

    MS. KOZACK: Okay, very good. So, with that, let me go ahead and talk about Argentina. So, first, I just want to start by saying, as I think many of you know, both the Managing Director and the First Deputy Managing Director recently met with the Argentine authorities. And as they recently emphasized, we are continuing to make good progress toward a program, and we are working constructively with the Argentine authorities in this regard. The authorities’ stabilization and growth plan is delivering significant results.

    It has made notable strides in reducing inflation, stabilizing the economy, and fostering a return to growth in the country, and poverty is finally beginning to decline in Argentina. To sustain these early gains, there is a shared understanding about the need to continue to adopt a consistent set of fiscal, monetary and exchange rate policies, while very importantly, advancing growth enhancing reforms. And the new program would build on the progress achieved so far while also addressing Argentina’s remaining challenges. 

    Now, with respect to some of the questions regarding Congressional approval, we do take note of President Milei’s commitment to seek congressional support for a new IMF supported program. As we have often said in the past, strong ownership and broad support are key to the program’s success, 

    Here, I want to emphasize, though, that securing congressional support is a decision of the authorities as legislated in Argentine domestic law. And at the same time, of course, as I just noted, broad political and social support can enhance program implementation. Questions regarding the specific process on achieving or seeking congressional support should be addressed really to the Argentine authorities because it is a matter of domestic law. 

    From our side, as I noted, the negotiations are continuing in a constructive manner. In terms of the process from the IMF side. Once the negotiations are completed, as with any IMF program or proposed program, the final arrangement, the documents, will require approval of the IMF’s Executive Board. And we will provide further updates as we have them. 

    With respect to some of the questions about the details of the negotiations, the potential size of the program. All I can say right now is this is still under discussion as part of the ongoing and constructive dialogue that we are having with the authorities. And we will provide an update when we have more information that we can share with you. 

    QUESTIONER: On Lebanon, so following recent reports that the Lebanese government is in discussions with IMF over a potential deal on its financial default in public debt. I just want to see if the IMF can confirm these reports. If so, what does it look like? Are there any contingencies to this? And will there be an IMF mission visiting Lebanon? Thank you. 

    MS. KOZACK: So, what I can share on Lebanon is that an IMF team will visit Lebanon very soon, March 10th to 14th. This mission is aimed at, of course, meeting the new authorities, discussing Lebanon’s recent economic developments, its reconstruction needs, and the authorities’ economic priorities in the near-term. This is a fact-finding mission that will take place. But beyond this fact-finding mission, as we look ahead, future next steps could include helping the authorities to formulate a comprehensive economic reform program.

    Our staff continues to be closely engaged with the authorities. We are providing policy advice and capacity development to help the authorities’ efforts to rebuild Lebanon’s economy and institutions in coordination with other international partners. And that is what I have for now on Lebanon. 

    QUESTIONER: I wanted to ask you about what is happening in the United States. The trade wars have begun, and we are seeing some impact already, both in terms of market reaction and a lot of volatility in the markets, ups, and downs. We are also seeing some interesting developments in terms of bond markets and yields; it is going to increase the cost of borrowing. So, I wanted to ask you if you, at this point, I know we’ve asked this question before, but I wonder if you’ve got an additional assessment, as we’re now seeing some of these policies that had been promised taking effect, and whether you can say now whether you’re expecting an impact on the global economy and also on the U.S. economy and the affected economies that have been targeted thus far — China, Canada, Mexico. 

    QUESTIONER: As a follow up to [that] question, does the IMF consider that the ongoing developments of the U.S. tariffs and trade wars would push other nations to seek more trade relations and more alliances with other economic organizations and trade organizations such as BRICS, for example, or others? And broadly speaking, what is the IMF assessment of the global fragmentation that is going on right now? Do you see that it is slowing down or opposite it is moving faster, taking into account the latest developments in the United States?

    QUESTIONER: I would like to focus on the development of 10 years of U.S. bond yield movement. The 10-year bond yield now decreased, dropping substantially. And what does it mean? What is the implication of the movement? Does it represent some U.S. recession or U.S. economy? 

    QUESTIONER: With the tariffs actually now in place, has the IMF undertook a study to determine the potential impact on small island states that are heavily dependent on flows and goods and commodities coming out of the United States, more specifically, those countries within the Caribbean region who are very much dependent and could face significant inflationary pressures based on these tariffs?

    MS. KOZACK: So, first I want to just step back a little bit to recognize that we have seen now several new and significant developments over the past few days. The U.S. has imposed tariffs on Canada and Mexico as well as additional tariffs on China. Canada and China have, in response, announced tariffs on some U.S. goods and other measures. And Mexico has indicated that it will provide more details in the coming days.

    And as we have said before, you know, while assessing the full impact of tariffs on economic activity and inflation will depend on many factors, we do expect to provide an analysis of this, certainly at the global level and for the most affected countries at the time of our World Economic Outlook update in April. And of course we will also cover this issue, I imagine, in some of the regional updates where relevant. And I want to also emphasize that as part of our bilateral surveillance with countries, the individual Article IV reports this topic will also be covered to the extent that the countries are affected. 

    What I can say today is that if sustained the impact of the U.S. tariffs on Canada and Mexico can be expected to have a significant adverse economic impact on those countries given their very strong integration and exposure to the U.S. market. 

    Now, more broadly, there were some questions about financial market movements. So let me also just step back for a moment on some of these, and here I want to refer to some remarks that our Managing Director has been making recently. As she’s been saying, we are now in the midst of significant transformations, and these include the rapid advance of AI to changing patterns of capital flows and trade. She has also been mentioning that trade is no longer the engine of global growth that it used to be. 

    For example, during the period of 2000 to 2019, global trade growth reached nearly 6 percent on an annual basis, whereas over the more recent period of 2022 to 2024, global trade is growing closer to 3 percent. So global trade growth has been on a downward — has declined. And of course, it is in this more global context that governments are recalibrating their approaches and adjusting policies. 

    I also want to recognize, of course, that we have seen increased volatility in financial markets. We see that in indicators such as the VIX. We also have seen indicators of global uncertainty showing an increase. And what will be critical to assess what the economic impact of this will be — will be whether these trends are short-lived or whether they are sustained. Generally speaking, our research shows that both historically and across countries, sustained periods of elevated uncertainty can be associated with both households and firms holding back on consumption and investment decisions. And as I said, we will be providing a comprehensive analysis of our views on the global economy and individual economies as part of the World Economic Outlook that will be released in April. 

    On the specific question on U.S. bond yields, we do recognize of course, that U.S. bond yields have moved lower since the beginning of the year. And it does seem that on that basis markets may be reappraising or reassessing their views, particularly on the outlook for monetary policy. I will stop there and move on.

    QUESTIONER: When is the IMF Board expected to review and approve the next disbursement for Ukraine? Are there any remaining conditions or procedural steps that Ukraine must fulfill before approval? And the Ukrainian government is engaging in debt restructuring efforts with its creditors. How does the IMF assess Ukraine’s debt sustainability and what role does this play in bord’s decision making process regarding future disbursement announcements?

    QUESTIONER: So, to follow up on previous question. In February, you stated, that Ukraine would have access to about U.S. $900 million for the next review. Now we are speaking about $400 million. So, why the IMF has made a decision to adjust to the total sum of disbursement that will be provided to Ukraine?

    QUESTIONER: And do you think that it can impact financial stability of Ukrainian economy or there is no risk for them? 

    QUESTIONER: How do you expect the freezing of the U.S. aid for Ukraine might impact the program you have already on course right now? And how does this affect the global plan that had been made like a year ago or two years ago now? 

    QUESTIONER: I just want to follow up the last question about the impact — what the impact Trump administration is doing. Does this impact the IMF projections on Ukraine this and next year? 

    QUESTIONER: An adjacent question, maybe related to the prospect for ending the war. And, you know, we have seen economic developments in Russia continue to percolate along even though the war has been going on and there have been sanctions. Have you started to look at what the end of the war could mean for both the Russian and Ukrainian economies in terms of, you know, perhaps, you know, assuming that there would be an end of sanctions once there was a cessation of hostilities, whether that would give a boost to the Russian economy, maybe the European economy in general could lower costs, things like that? So just kind of walk us through what you are seeing there. 

    MS. KOZACK: Okay, let me go ahead on Ukraine. So, just to bring everyone up to speed. So, on February 28th, the IMF staff, and the Ukrainian authorities reached a staff-level agreement on the Seventh Review of the four-year EFF arrangement. This is subject to approval of the IMF’s Executive Board. Ukraine is expected to draw, as noted, about U.S. $400 million, and that would bring total disbursements under the program to U.S. $10.1 billion.

    I just want to note that program performance in Ukraine remains strong. All of the end December quantitative performance criteria were met, and understandings were reached between the Ukrainian authorities and IMF staff on a set of policies and reforms to sustain macroeconomic stability. The structural reform agenda in Ukraine is continuing to make good progress, and there are strong commitments from the Ukrainian authorities in a number of other areas. 

    Now on some of the specific questions, first on the matter of the disbursement, what I can say there is that it is not unusual over the life of a program for the pattern of disbursements to shift based on evolving balance of payments needs. And that is what has happened in this case. It is also important to emphasize that the overall size of the program, which is $15.6 billion, remains unchanged. And so that shift in disbursement pattern reflects the shifting balance of payments pattern for Ukraine. 

    So, on the issue the debt restructuring and debt process, what I can say there is that restoring debt sustainability in Ukraine hinges on continued implementation of the authority’s debt restructuring strategy, where completing the treatment of the GDP warrants remains important. And it also hinges very much on continuation of the revenue-based fiscal adjustment strategy, which is supported under the program. And as you know, Ukraine’s debt has been assessed in the last review to be sustainable on a forward-looking basis contingent on these two areas that I just mentioned. And of course, there will be a revised debt sustainability assessment as part of the ongoing review. 

    With respect to the other question, what I can say here is that the Ukrainian economy, you know, has shown continued resilience despite the challenges arising from the war. At the time of the Seventh Review, the last review, we estimated GDP growth to be 3.5 percent in 2024. But we did expect it at that time to moderate to 2 to 3 percent in 2025. And that was reflecting some headwinds from labor constraints and damage to energy infrastructure, given the ongoing war. It is the case in general for Ukraine, and we have been saying this throughout the life of the program, that the outlook remains exceptionally uncertain, especially as the war continues and it is taking a heavy toll on Ukraine’s people, economy, and infrastructure. 

    On the more recent developments that you were referring to, we are following these developments very closely. It is premature at the moment to comment on them, but we are following them, and we will make an assessment in due course.

    And on your question, the answer is essentially the same. We are following the developments very closely, and we will, as developments evolve, be undertaking obviously an assessment of what a peace deal could potentially look like and what would be the implications for all of the involved parties. 

    QUESTIONER: Julie, can you on the basis of having studied previous conflicts ending, can you just give us divorced from Ukraine and Russia, but just can you give us an indication of what generally happens when a conflict ends, what that means? And is there anything that we can draw on, at least just from history? 

    MS. KOZACK: So, I do not have, you know, off the top of my head a piece of research that I can kind of point to in terms of the interest analysis. What I certainly can say is that we always, for all of our member countries, hope for peace and stability in all of our member countries. And I think at that moment this is really what I can say. But I take note of the importance of your point, and we will, I have no doubt, in due course be conducting all of the necessary analysis as events unfold.

    QUESTIONER: I have two questions mainly on Egypt. as Egypt is scheduled for 10th of March for the discussion of the Fourth Review of the EFF for the country, what are we expecting from this meeting? And if you please, could you update us on the RSF facility worth $1.2 billion for the country? Thank you so much. 

    QUESTIONER: I would second exactly those questions. And just to add to that, I know it says on the IMF Executive Board calendar that the Board will be discussing waivers of non-observance for some of the performance criteria related to Egypt’s loan program and modifications for others. Are you able to tell us any more about exactly which criteria the Board will be looking at? And on the RSF, if you are able to give us any more detail about the prospective value of that. I know it has been put at $1 billion before. A related question, not on Egypt but on Gaza. I would be interested to know if the IMF has begun to think, whether internally or with partners in the region, about what its potential role would be in funding a reconstruction plan for Gaza given the $50 billion, upwards of $50 billion, cost of any reconstruction. 

    QUESTIONER: I may repeat questions about the value of current tranche to be given to Egypt and the timing of when the central bank of Egypt to receive it. And also, I have another question about the program of state assets selling. Will we witness some steps, new steps in that program? Could it be connected with the decision to be taken in March?

    MS. KOZACK: And any other questions on Egypt? All right. And then I have a question that came in through the Press Center. I am going to read it out loud – ’Does the IMF’s approval of the fourth tranche to Egypt require Egypt to implement some reforms? And when will the Fifth Review of the loan be held? What is the estimated size of the loan allocated to Egypt, and here will it be dispersed in installments or in one lump sum?’

    On Egypt – on March 10th, our Executive Board will be discussing Egypt’s Article IV consultation and the fourth review under the EFF. It will also be discussing at the same time Egypt’s request for an RSF, the Resilience and Sustainability Facility. Subject to completion by the Executive Board, the authorities, would have access to $1.2 billion under the EFF. So, under the EFF program. And then in addition, subject again to approval by our Executive Board, the size of the RSF would be about U.S. $1.3 billion. Regarding the RSF, like all of the IMF programs, the RSF is also delivered in tranches. So, it is not one lump sum up front. It is a phased program where tranches are dispersed on the basis of conditions being met. 

    And with respect to some of the other questions, what I can say today is just that we will provide, of course, more details following the Board meeting and on the question of waivers and modifications and also the questions on the state-owned enterprises. And again, the board meeting will be on March 10th. 

    QUESTIONER: I have two questions related to Japan. Firstly, amid rising uncertainty due to President Trump’s tariff policy, I would like to ask you — ask your thoughts on whether the Bank of Japan, currently in a rate hike phase, should continue raising rate or take more cautious approach in assessing the impact. And secondly, President Trump recently made remarks suggesting that Japan and China are engaging in currency devaluation. I would appreciate it if you share your views on Japan’s foreign exchange policy. Thank you. 

    MS. KOZACK: So, maybe just stepping back to give a bit of context on Japan. What I can say on Japan is that on the growth side, growth this year is expected to strengthen, and we also expect inflation to converge to the Bank of Japan’s 2 percent target by the end of 2025. 

    In 2024, growth in Japan slowed due to some temporary supply disruptions. But since then, we have seen a strengthening in growth driven by domestic demand, particular — particularly private consumption in Japan and rising wages. And we expect this to continue into 2025, where we project growth, at the time of the January WEO, we projected growth at 1.1 percent for Japan in 2025. And of course, just to say that we will be updating this projection as part of the April forecast. 

    Looking at inflation — headline and core inflation, as I said, are expected to decline gradually toward the 2 percent target. We have been supportive of the Bank of Japan’s recent monetary policy decisions. We believe that these decisions will help anchor inflation expectations at the 2 percent target but also given balance risks around inflation, our assessment has been that further hikes in the policy interest rate should continue to be data dependent, and they should proceed at a gradual pace over time. 

     With respect to the question on the exchange rate, what I can say there is that the Japanese authorities have affirmed their commitment to a flexible exchange rate regime. Japan’s flexible exchange rate regime has helped the country or has helped the economy absorb the impact of shocks. And it also supports the focus of monetary policy on price stability. And at the same time, what I can say is that that flexible exchange rate regime is helping maintain an external position that is in line with fundamentals. 

    QUESTIONER: Could you give us an update on the negotiations for Ethiopia, please? And on El Salvador, the deal that you agreed on in December and was approved a couple of weeks ago involves the government not increasing its exposure to Bitcoin. Government has continued to buy through the Office of Bitcoin, which is linked to the presidential palace. But yesterday the Fund said that these purchases do not increase the government’s exposure to Bitcoin. Could you please explain that? 

    QUESTIONER: Also on El Salvador, obviously he was saying to not to not buy it as a government reserve. I just wanted to, I guess, contrast to the U.S. I mean, President Trump has very much announced a digital assets reserve, including Ethereum and other coins, as well as Bitcoin. And I wondered if the IMF could – can you comment on the U.S. program or how would you distinguish the two countries and why the IMF might be taking a different approach?

    MS. KOZACK: All right, let me go ahead and take the El Salvador question in Ethiopia and then we will go back. I see many hands up online. 

    So, on El Salvador, as you know, last week our Executive Board approved a 40-month Extended Fund Facility, EFF, for U.S. $1.4 billion and with an immediate disbursement of $113 million. The program is expected to catalyze financial and technical support from other IFIs. And this will lead to a combined total over the program period of about U.S. $3.5 billion of support for El Salvador. The goals of the program are to restore fiscal sustainability, rebuild external and financial buffers, strengthen governance and transparency, and ultimately create the conditions for stronger and more resilient growth. 

    Regarding Bitcoin, in particular, the program aims to address the risks associated with the Bitcoin project to protect consumers and investors, as well as to limit potential fiscal costs. So, to start, there were recent legal reforms that have made the acceptance of Bitcoin voluntary, and taxes can be paid only in U.S. dollars. Under the program, the government has committed to not accumulate for their Bitcoins at the level of the overall public sector. 

    Regarding the recent increase in Bitcoin holding by the Strategic Bitcoin Reserve Fund, the authorities have confirmed that these are consistent with the agreed program conditionality, and we do remain engaged with the authorities on this important issue. 

    And then, to your question. We are obviously closely monitoring President Trump’s announcement in this area. The Presidential Working Group on Digital Asset Markets has not yet completed its work. So, we do not yet have details on the implementation of this proposal, but we will come back in due course. 

    And then turning to the question on Ethiopia. So just an update on Ethiopia. On January 17th, the IMF Executive Board completed the Second Review of the arrangement, the ECF arrangement for Ethiopia, and that allowed for a drawdown of about U.S. $245 million. The ECF arrangement supports the authorities’ reforms to address macroeconomic imbalances, restore external debt sustainability, and lay the foundation for strong private sector-led growth. 

    I can also just remind you that the Managing Director recently traveled to Ethiopia. She was there February 8th and 9th. She met with Prime Minister Abiy and his team to take stock of the economic reforms and the progress that is being made in the country. And she also took the opportunity to meet with other stakeholders, including representatives of the private sector. 

    QUESTIONER: My question is on USAID. USAID has now totally stopped its business. And to what extent do you see the impact, especially on lower income countries at the global level? And should you consider using your facility to support them just in case? 

    MS. KOZACK: So, on this issue, we are obviously again paying close attention to developments, and we are working with our country authorities. But it is, at the same time, it is too early to really say what the precise impact may be. And so, we will come back in due course. For now, we are monitoring.

    QUESTIONER: I have a question on Senegal. Following a recent audit of the country’s debt, it was found to be 99.7 percent of GDP. That was in 2023. And I know that IMF has said before that Senegal debt was stable even though it was high. I am wondering if that is the figure that you still consider sustainable. And then also with regards on talks of a new IMF program, I am wondering if Senegal could be asked to reimburse previous dispersion under this reporting period. 

    QUESTIONER: Still on Senegal, as soon as the report from the Audit Supreme Court was released, we saw rating agency downgrading Senegal sovereign notes. So, the country is now stuck. It cannot raise funds from the internal market, and it cannot go in a very comfortable position in international markets while they still face a lot of challenges. So, I am wondering why the IMF is working fast and bold to find a solution for Senegal in the midterm or even long-term. Is there any situation where IMF can provide a short-term, I mean, short-term relief to the country so they can go through these hard moments in a very soft way? 

    MS. KOZACK: So, on Senegal, what I can say is that we are actively engaged in discussions with the authorities with respect to the Court of Auditors Report and the associated misreporting under the IMF program. The Court of Auditors Report was released on February 12th. The Court confirmed that the fiscal deficit and debt were under reported during the period of 2019 to 2023.

    So, what we are doing is working closely with the authorities in their efforts to preserve fiscal and debt sustainability. We are working actively to advance on our discussions following the publication of the report, and we are also working with the authorities on measures to correct and remedy the misreporting that took place. What I can add is that the resolution of the misreporting in line with IMF policy is a precondition for discussions of any future financial assistance by the IMF.

    And with respect to potential consequences, I can say that the IMF does not impose any sanctions for misreporting cases. It is up to our Executive Board to decide on the next steps. And those next steps, you know, could include a waiver. And that waiver could — it could also include; it could be a waiver without a request for reimbursement. So, all of those discussions on Senegal are now underway. We are actively, very much working with the authorities, supporting as much as possible their efforts on fiscal and debt sustainability, as I said. And we will come back and report back when we have more information on Senegal. 

    I have a question here online that I am going to read. It came from the Press Center on Thailand. And the question is – ‘The upcoming World Bank IMF Annual Meetings in Thailand will bring significant attention to Southeast Asia’s economic outlook. From the from IMF’s perspective, how can Thailand best leverage this opportunity to address regional challenges such as digital transformation, climate change adaptation, and income inequality? And what collaborative initiatives between the IMF and Thailand are being planned to ensure lasting economic benefits for the country beyond the meetings themselves?’ 

    So, on this very important question, a very nice question, actually, what I can say is that we are very much looking forward to having Thailand host the annual meetings in 2026. So, this will be in October of 2026. Every three years, we do our Annual Meetings abroad. 2026, October will be Thailand. So, mark your calendar. I can also add that preparations are underway. The Fund, the IMF staff are working hand in hand with the Thai authorities to make this a highly successful event and showcasing the significant strides that Thailand has made since it last hosted our annual meetings in 1991. So, it will be 25 years when we get to 2026. 

    The Managing Director recently met with Bank of Thailand’s Governor Sethaput at the AlUla Conference in Saudi Arabia. They discussed the preparations for the annual meetings and agreed that it would be a very good opportunity to showcase on the global stage the region’s dynamism and economic activities. And of course, the meetings will also allow Thailand to position itself as a key contributor to the international economic dialogue and to gather views and experiences from countries throughout the membership of the IMF and the World Bank. 

    This ongoing close relationship leading up to and beyond, we hope, the Annual Meetings will focus on prioritizing reform reforms that are necessary to ensure the lasting benefits for Thailand and building the relationships and the shared policy, dialogue and experiences we hope will deepen our engagement, our excellent engagement and relationship with Thailand and will be sustained even past the Annual Meetings in 2026.

    QUESTIONER: My question is, what are the IMF growth projections for Jordan amid the ongoing impact of the Gaza war? And when will the Third Review under the EFF begin? And are any adjustments expected to the war’s region effect on Jordan’s economy? 

    MS. KOZACK: So, what I can share on Jordan is that the Executive Board on December 12th completed the Article IV Consultation with Jordan and the Second Review under the EFF arrangement. The mission for the next review, which will be the Third Review, is expected to take place in April.

    What I can also say is that Jordan has demonstrated resilience and maintained macroeconomic stability throughout the prolonged regional conflict. This resilience reflects the authority’s continued implementation of sound macroeconomic policies and progress with reforms. While recent developments in the region, particularly the ceasefire agreements, give rise to some cautious optimism, uncertainty, of course, in Jordan does remain high. And with respect to the growth projections, what I can say is that growth in 2024 was 2.3 percent. We are projecting growth at 2.5 percent in 2025 and a further increase in growth in 2026 to 3 percent. But like in all countries, we will be updating these projections as both part of our April World Economic Outlook Global Forecast, and also, of course, the team will be doing a full assessment of the Jordanian economy as part of their mission in April 

    And so, with this, I’m going to bring this press briefing to a close. Thank you all very much. Thank you very much for participating today. As a reminder, the briefing is embargoed until 11 a.m. Eastern Time in the U.S. The transcript, as always, will be made available later today on IMF.org. And in case of clarifications or additional questions, please reach out to my colleagues at media@IMF.org. And I wish everyone a wonderful day, and I look forward to seeing you next time. Thank you very much. 

     

    * * * * *

     

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Boris Balabanov

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI Economics: Breaking Barriers: Africa Gender Index Insights for Action

    Source: African Development Bank Group
    What:         Webinar on the Africa Gender Index 2023 Analytical Report – Breaking Barriers: Africa Gender Index Insights for Action
    Who:          Gender Equality and Women’s Empowerment Department of the African Development Bank Group (AHGC)
    When:        Friday, 14 March 2025, 9:15 am – 11:00 am (GMT)

    MIL OSI Economics –

  • MIL-OSI Economics: Microsoft invests an additional ZAR 5.4bn in South Africa, launches program for digital skills

    Source: Microsoft

    Headline: Microsoft invests an additional ZAR 5.4bn in South Africa, launches program for digital skills

    MIL OSI Economics –

  • MIL-OSI Economics: D-ID partners with Microsoft to deliver Al-powered avatars that can interact with people in real time

    Source: Microsoft

    Headline: D-ID partners with Microsoft to deliver Al-powered avatars that can interact with people in real time

    D-ID, one of the leading platforms for the generation of AI-powered interactions and content creation, is excited to announce a partnership with Microsoft, bringing D-ID’s advanced technology to Microsoft Azure.

    Through this partnership, enterprises and developers can integrate AI-powered avatars into their applications, enabling more engaging, real-time interactions and personalized customer experiences.

    D-ID is at the forefront of agentic AI-powered virtual avatars that can see, hear, and interact with people in real time. These avatars offer immersive experiences, making online communication more engaging and natural, whether through voice, facial expressions, or even sign language.

    The partnership with Microsoft will provide enterprises and developers with powerful tools to create agentic AI avatars for Microsoft Teams, and other Microsoft software, while ensuring that every avatar meets the highest security standards.

    D-ID’s work in removing communication barriers begins with the transformative solution of enabling people to speak in any language, translating their words, while retaining their voice and matching their lip movements, in real time.

    Furthermore, D-ID, is using its groundbreaking solutions for accessibility. Its AI avatars enable real-time translation into sign language, offering inclusive communication for Deaf and hard of hearing users.

    D-ID is also delivering communication solutions for individuals with amyotrophic lateral sclerosis (ALS) and other conditions that limit speech. The technology doesn’t just enhance expression—it restores these people’s ability to communicate in real time. Integrated with systems like Microsoft Teams, this capability is changing people’s lives by giving them back their voice and ability to communicate.

    For those with physical disabilities, including complete paralysis, D-ID’s technology takes personalization even further. This breakthrough offers freedom and dignity by bringing voice and facial expression to people living without them.

    Gil Perry, Chief Executive Officer (CEO) of D-ID said, “The AI avatar market is projected to exceed $700 billion by 2033, with significant adoption already underway, especially in the marketing and learning sectors.”

    “We aim to revolutionize the way users interact with AI by replacing traditional GUI (graphical user interfaces) with NUI (natural user interfaces), transforming text and images into engaging AI avatars to create a more immersive experience.”

    “By integrating D-ID’s technology with Microsoft’s platform, customers can create a more natural UI for AI. Our focus on ethics, security, and innovation makes this collaboration even stronger, positioning us as a trusted and reliable leader in the market.”

    Annie Pearl, Corporate Vice President and General Manager of Azure Experiences and Ecosystems at Microsoft, shared, “D-ID is improving communication and learning by adding a visually engaging, natural layer to AI agents. This innovation has the potential to make interactions more intuitive and impactful. D-ID empowers our joint customers with cutting-edge tools that redefine how we learn, collaborate, and connect.”

    To explore how D-ID’s cutting-edge technology can transform your applications, visit the Azure Marketplace and discover our growing ecosystem of AI avatar solutions.

    About D-ID

    D-ID is the world’s leading and most secure platform for creating real-time digital humans. D-ID provides a new interface to large language models (LLMs), with a vision to completely replace GUI with NUI. By transforming images, text, videos, and voice into interactive digital humans, the company offers solutions for creating AI videos and real-time conversational agents that boost businesses’ marketing departments, sales, learning and development and customer experience. More than 250 million videos have been produced with D-ID’s self-service Creative Reality studio and integrations, and more than 280,000 developers are building solutions with the D-ID API. Founded in 2017 and supported by tier 1 VCs, D-ID employs 90 people globally. For more information, visit www.d-id.com.

    Categories: Featured, News, Startup Stories

    MIL OSI Economics –

  • MIL-OSI Economics: FYAI: The role of responsible AI with Microsoft Chief Product Officer Sarah Bird

    Source: Microsoft

    Headline: FYAI: The role of responsible AI with Microsoft Chief Product Officer Sarah Bird

    AI is transforming the business world, enabling companies to enhance productivity, streamline operations, and deliver personalized customer experiences. At Microsoft, our mission is to empower every person and every organization on the planet to achieve more, and that means leading this transformation with innovative AI solutions built responsibly that drive real impact in your organization.  

    Beyond the tools that empower businesses to shape their future with AI in a rapidly evolving market, our leaders at Microsoft are shaping our own organization with this technology. In this series, FYAI, we’ll highlight leaders from around Microsoft that are driving forces in our AI strategy for their unique perspective on our AI transformation; for your AI information, if you will.

    Insights from Sarah Bird, Chief Product Officer (CPO) of Responsible AI

    In this edition, we hear from Sarah Bird, Microsoft’s Chief Product Officer (CPO) of Responsible AI, ahead of her appearance at South by Southwest (SXSW) where she’ll be discussing the evolving safety practices for generative AI.  

    In this Q&A session, Sarah shares her insights on various aspects of responsible AI, including her journey and dedication to responsible AI, her role as Chief Product Officer, the importance of integrating responsible AI early in the development process, and her insights on future AI breakthroughs and their safety implications. 

    Let’s explore Sarah Bird’s experiences and perspectives on the evolving landscape of AI and discover how Microsoft is building trustworthy AI systems. 

    Empower responsible AI practices with Microsoft

    FYAI: Responsible AI with Sarah Bird

     Who influenced you to pursue a career in responsible AI?

    “For me, it’s less about who influenced me to pursue this career and more about who I’m helping every day through my work. AI is one of the most empowering technologies we have, but we can’t unlock its full potential without solving for responsible AI. That’s what makes this work so important—it’s about ensuring AI is safe and beneficial for everyone. And to do that, we have to work across boundaries. It reminds me of my grad school days—responsible AI is the ultimate group project, bringing together technology, society, and law to tackle these complex challenges in a meaningful way.” 

    What does the role of chief product officer, responsible AI, actually mean? Tell us what your day-to-day looks like. 

    “No two days are the same, and that’s what keeps me energized. At the core, my team is focused on three key things: spotting new risks, figuring out how to tackle them—especially when they’re things we’ve never seen before—and making sure our solutions are scalable so others can apply them easily. That framework guides us, but the reality is, AI is evolving fast. So a big part of our work is staying nimble—triaging issues in real-time, applying what we learn in practice, and adapting quickly to test and deploy new systems. It’s a mix of strategy and problem-solving, which is what makes it exciting.”

    Where are you noticing gaps in companies’ implementation of AI safety practices?

    “It’s been really inspiring to see how much more mature customers are getting with their responsible AI roadmaps and deployment. There’s real progress happening. That said, people are still learning, and the level of maturity varies across industries—some are further along than others. If there’s one thing I could shout from the rooftops, it’s that responsible AI can’t be an afterthought. It needs to be built into the entire development process from the start, not just bolted on at the end. It’s about putting all the pieces together to create a complete, responsible AI lifecycle.”

    Grow Your Business with AI You Can Trust

    When do you think the next AI breakthrough is going to happen and what does that mean for safeguards?

    “As an engineer, I’m focused on problem-solving rather than predicting when the next big breakthrough will happen. But I will say—it’s an exciting journey, especially with the pace of innovation. And while we still need another major leap before we can talk about the reality of what’s next, what’s really exciting about this space is that the breakthrough isn’t just the technology itself—it’s how we apply it. The real magic happens at the intersection of tech and people, and figuring out how to bridge that responsibly is what makes this work so fascinating.”

    Why do you feel safety and innovation go hand in hand? 

    “A goal of ours as a company is to help people do more with AI. We are constantly pushing the boundaries of what’s possible and doing so in a safe, trusted way. As I’ve said, safety is not just a ‘nice to have’ bolted on at the end of a project, but a critical piece of developing high-quality AI systems. I look at safety issues as a measure of quality – is your AI performing as well as it should be? We can’t innovate and drive meaningful progress if we don’t solve for this.” 

    2025 AI Decision Brief

    Gain insights from thought leaders at Microsoft to advance AI and drive consistent AI value in your org

    Learn more about Microsoft’s responsible AI work 

    At Microsoft, we’re committed to the responsible advancement and use of AI. Our approach is guided by principles that ensure AI development maximizes benefits and minimizes potential harms. We incorporate responsible AI practices from the beginning by training our employees to evaluate risks and collaborating with experts to review and test technologies. 

    We believe that advancing safe, secure, and trustworthy AI requires a mix of industry commitments, policies, and global governance. Responsible AI is an ongoing journey that involves continuous learning and collaboration.

    Sarah Bird is at the forefront of ensuring that AI technologies are developed and deployed responsibly, and her team is dedicated to building tools that test AI systems rigorously to ensure they work as intended and are safe, inclusive, and beneficial for everyone. As she highlights, by integrating responsible AI practices from the start, we can unlock the full potential of AI while maintaining the highest standards of safety and innovation. 

    Want to learn more?  

    MIL OSI Economics –

  • MIL-OSI Economics: Podcast: Azeem Azhar on how AI agents are transforming work

    Source: Microsoft

    Headline: Podcast: Azeem Azhar on how AI agents are transforming work

    MOLLY WOOD: Today, I’m talking to entrepreneur and author Azeem Azhar. For nearly a decade, he’s published the Exponential View newsletter, which breaks down the ways technology is transforming every aspect of our life and work. He also serves on the World Economic Forum’s Global Futures Council. He joined us to share valuable insights on how we can adapt and succeed at a time when change is constantly accelerating. And now, my conversation with Azeem. Azeem, thanks so much for joining me.   

    AZEEM AZHAR: Well, thank you for having me, Molly.  

    MOLLY WOOD: So for people who aren’t familiar with your newsletter, Exponential View, can you give us sort of an overview of the topics that you explore in your writing and speaking and interviews and various explorations? 

    AZEEM AZHAR: Absolutely. The title in a way gives it away. Exponential—it’s about fast-changing technologies. The one that matters most at the moment is artificial intelligence, so that has formed the backbone of what I’ve written about over a decade. But there are other exponential technologies as well. So, what’s happening in the new energy system with the cost of solar panels falling exponentially, the same is happening with batteries. It’s happening in the worlds of biology, where gene sequencing and genomics and proteomics are getting exponentially more accessible, and I try to bring all of those together through my own framework, which is about why these technologies get cheap, what happens when they get cheap, and how does that then manifest itself first in business, then in the economy, and finally in society. 

    MOLLY WOOD: Having seen so many of these disruptions, what’s the high-level advice about how to adapt your business and your culture?  

    AZEEM AZHAR: The reality is that there is no rule book. And I think one of the challenges for any business person is that they’ve been able to operate in a world where there has been a rule book and they’ve been able to get that rule book from business school, they’ve been able to get it from a textbook or a dummy’s guide, which is normally the place I turn to. But what happens in a world where there isn’t a rule book because everything is being made up as we go along? Some of us remember that, because if you were early in the internet you will absolutely remember that simple things that we take for granted today, like being able to count the number of visitors on your website, were really hard technical and product problems which had to be invented by dozens of companies around the world. So the thing that really matters is the capability to learn, and that learning has to come from actually experiencing the technologies. At some point with the internet, you didn’t need to know about a stack of technologies from tcp ip to ftp to dns to http into a whole set of other acronyms that may mean nothing to listeners. You could just go to a SaaS provider and say, provision me an online store. But it took us about 15 years to get there. Where we are with this AI change is that we are at those early years and it’s not clear to me at what point everything stabilizes sufficiently that you can just, you know, download a manual or buy a book and figure your way through it.  

    MOLLY WOOD: You wrote an interesting piece that I want to ask you about in January about contrarian ideas about GenAI in the workplace, and you sort of started with point one right now, which is, you know, that we are really only scratching the surface of what’s going to happen to work here. Let me start by asking you, why do you think this is such a big deal and that, in fact, we’re only scratching the surface?  

    AZEEM AZHAR: It’s a huge deal because the technology of GenAI is kind of magical. You can talk to your computer and it talks back to you in quite sensible ways. I can have a half-baked thought and I can speak into my phone and the large language model will turn it into a structured outline. I can take that structured outline, I can post it back into the large language model and say, write me a research report on this, and it will go off and do that. That is absolutely at the heart of the cognitive work that drives most of the value in most companies in the world. And the technology is coming into a world that is ready for digital technologies. So 30 years ago, when the internet showed up, you had to do a lot of infrastructural work, you had to teach people how to use the internet, you had to move processes online. Over the last 30 years, companies have gone through a process of, you know, business process reengineering, transformation, digital transformation. Everything is now digital. And so this new technology, which has got this magical component where I can just talk to it and it can talk back to me and do quite sophisticated things, is now also available like that [snaps fingers] at the snap of the fingers, and you know, Microsoft has demonstrated that, it’s done it. It’s put Copilot and a whole load of other AI tools in the hands of probably hundreds of millions of workers in a matter of a couple of years. So the combination of a really powerful, easy-to-use technology onto the desks of loads of workers, I think kind of creates a completely new and unparalleled situation.  
     
    MOLLY WOOD: So one of the evolutions that business leaders are struggling to keep up with is that they’re just getting a handle on the capabilities of AI assistants—like Microsoft Copilot—but now they’ve got to wrap their heads around the potential of Copilot plus agents. 

    AZEEM AZHAR: One of the things I would say is that the speed with which people are adapting to assistance is pretty remarkable. And I think historians in a few years will be able to look back and give us accurate data as to whether it’s quicker than, say, the internet, which I think it does feel like it’s quicker than the internet. What is an agent rather than an assistant? Well, in an assistant, we sit in a world where, effectively, there’s a kind of query and response between me and the AI system. I might say, improve the phrasing of this letter to my lawyer and send that in and it will go off and improve the phrasing and send me the results. With an agent what I can start to do is have it undertake a more open-ended multistep task that may actually have a goal. And what that’s doing is it’s taking me out of the loop in those intermediate tasks. I’ll give you an example of one agent system that I use. This is a system where I want to essentially access a brain’s trust to improve the quality of messaging in something that I might be sending out. I will have four different AIs. One of those AIs acts as a moderator and the other three act as members of a focus group. And I can take my material and send it to the moderator and say, please have the focus group criticize and improve this until they all agree that we’ve got something that scores 10 out of 10 on how compelling it is. I will put that query in, the moderating agent will run that process, it’ll take three or four minutes, it’ll cost me 10 cents, maybe 15 cents. And at the end of it, it’ll come back saying, right, this is much more compelling messaging, as these particular agents agree. Now, each agent has a persona. This one is like a 45-year-old marketing manager, and this one’s like a 37-year-old early adopter of technology, and so on. We’ve given them those personas, and that process runs in of itself, and what comes out at the end, works about half the time, is often more compelling in some sense of what went in. So that’s an example of using an agent-based workflow where if I hadn’t done that, I would have been clicking and pressing and copying and pasting from tab to tab to tab, and guess what? I would have made lots of mistakes and got very bored.  

    MOLLY WOOD: Right. You’ve said, for example, that in the future we will have hundreds of agents working on our behalf. How does that reshape business?  

    AZEEM AZHAR: Well, let’s go one step at a time then. So I’ve given you an example of using a set of agents to construct a virtual focus group that helps me from time to time. What I do when I look at using AI is I’m really interested in using AI to improve the high-value tasks I undertake. Some other people prefer other approaches like using agents to schedule their meetings for them. But, you know, that for me is kind of a low-cost task. I don’t really need to automate it. If I can get help on the things that really drive my business, that’s where I want the help. So that’s one example of a task, the agent model. Another example is using the tools to do really, really detailed research. What I can do with deep research is I can ask it a particularly tough question that might be about market dynamics, or it might be about a technology area that I’m interested in investing in. Deep research will turn that into a research question and go away for between five minutes and, in one case, 75 minutes to produce an annotated multi-thousand-word report with references to academic and mainstream news sources, and it’s really, really quite impressive. I would say it is about as impressive as having a couple of junior analysts working together for a couple of days, so really impressive. But you would never trust it, right? You always work on what the juniors have produced. So I think that gives you a flavor. But then you still ask me this final question, what does it do for business, right? I think that’s really the big question.  

    MOLLY WOOD: Fundamentally, what we keep coming back to is it’s a question of leadership, adaptation, and adoption. You know, how do leaders get into the mindset of playing both offense, in terms of unlocking new business opportunities and delivering value to clients, and also defense, like reducing costs and making sure that everybody understands how to use these tools well.  

    AZEEM AZHAR: So what I go and tell CEOs of big companies is, no one built a great business by cutting costs. What’s really interesting is what you can do to do more and to deliver more, and that’s a choice you make, and as a CEO you might say, my shareholders would just rather me cut costs. And if that’s the case, that’s the decision you should go off and take. If you want to do the latter, then a lot of the changes will actually come from frontline employees, because they are the ones who deal with the reality on the ground every day. They’re the ones who know which part of the existing processes work, which ones no longer work. You need to get their insight on what the potential of the technology is. The other side is what the CEO knows, understands, and, most importantly, feels. Do they feel this is going to be a radical breakthrough technology? Because if they don’t, they will only ever sign off a checkbox on a slide presentation from a consultancy. They will never really believe and drive their team forward. Now, I have personal experience of this, because in my first job when I worked as a journalist, and to put the Guardian newspaper in the UK online, the deputy editor who went on to become the editor, Alan Rusbridger, felt and believed the internet was going to be transformative to the media business. He felt and believed it in 1994. And so I’ve been really lucky for my first experience to not have to push water uphill. It’s hard, I think, to make a radical change without a sense of belief and a sense of intentionality. I think what you can do as a leader is you can get buy-in. You can say, look, I’ve bought into AI and we’re putting AI in customer service, we’re putting AI in fraud detection. That reminds me a little bit of the very first car manufacturers at the turn of the 20th century, who bought into electricity by hanging a pendant light in the workshop so workers could work an extra hour or more. But the person who believed in electricity was Henry Ford, and he realized, with electricity, you could build cars in a completely different way through a production line. 

    MOLLY WOOD: That is an excellent analogy. Okay, now tell us how that looks in a business deploying AI as a light bulb versus deploying it to automate a factory.  

    AZEEM AZHAR: Well, I think with the light bulb example, that’s probably where most companies are. You know, you’re using the AI to improve customer service or ticket response, and you’re measuring it by cost cutting. The question is where are you delivering more at a higher quality, but at constant cost to your customers? And that’s only possible because you have got that sense of real belief in the technology. We’re early days yet to find really good examples of that. There are a few in digital finance that are emerging. There are, of course, the AI-native companies that are building the tools themselves, who, in a sense, have bought their own dog food. And I think there are small firms. I think Exponential View, the work that we do, is entirely AI-native now. And we wouldn’t be able to do it with the team we have if we didn’t have the tools that we use.  

    MOLLY WOOD: So we’ve sort of kept this conversation to this specific disruptive technology. Of course, there are lots of other disruptions happening. And so I wonder how you think AI will help leaders navigate other changes—economic uncertainty and supply chain disruption and intensifying competition and strategic and global issues and, you know, you could keep going with this list. But at some point you have to stop.  

    AZEEM AZHAR: I think there’s a simple model here, which is that all of the issues that you’ve raised are problems that are first and foremost cognitive problems and they’re knowledge problems. In other words, you have to orient yourself. What’s really happening with our supply chain? What’s the root cause of this problem? How might we trace back the dependencies between that cause and the issue it’s facing? Those are all analytical questions that rely on data gathering, and they rely on that sort of second order analysis. And AI tools are really, really good at helping people do that. So for every strategic problem that a business has, you should be able to take these new generative AI tools and help you with your identifying the root cause with your strategic planning, with your scenario analysis. And so I don’t see how you can address these given the growing complexity of the world without some kind of help. And of course the kind of help that often does this—the strategy consultancies, the academics—they’re rare, they’re overworked, and they’re expensive.  

    MOLLY WOOD: Leaders have an opportunity to be a different kind of reactive, the way that you’re describing this, right? The worst thing is for someone to react without information. And what you’re saying is we now live in a world where there is no reason for you to be able to do that. You have all the information and the help that you need to react in a smarter way.  

    AZEEM AZHAR: You have all the information, and you have the abilities to process large amounts of unstructured information and come out with real insights to help you act. Of course, then, acting on it is still complex. You have to persuade your leadership team, you have to find time to figure out whether you really believe the decision that you’re about to take. So those human dimensions and human social dimensions still exist. But what it really means is that the cognitive knowledge component of this question, the scenario planning and hypothesizing, is something that can take place quickly, cheaply, and frequently.  

    MOLLY WOOD: Okay, well, speaking of knowledge, you’ve written about how knowledge is different from data and that we should not use those words interchangeably. Can you dig into that a little bit? What’s the difference?  

    AZEEM AZHAR: Data is, in my mind, the smallest, lowest level unit. A piece of data, you know, it’s useful in so far as from aggregations of that you can get a lay of the land. Where old AI systems used to operate before generative AI, they were really good at helping us understand patterns in data, so, understanding patterns that might say, there’s fraudulent behavior happening here. But what generative AI allows us to do is it allows us to synthesize across many, many different domains. And so you can take data as we often do, we take web analytics data from our websites and we’ll throw them into one of the LLMs and say, tell us what the most important changes in behavior on our website over the last three months have been. And what you’re then starting to do is get that higher-order analysis that you would normally have asked your web analytics team to produce for you. They can now actually do much, much more with it. Companies have been very, very data rich, but they’ve probably not had the capacity to turn those into knowledge-driven decisions to actually change what they do. We’ve become very good at optimizing an existing sales funnel, not asking how could that funnel be radically better. And I think that process, which is a bit more creative, it’s a bit more strategic, becomes a little cheaper and more accessible now that we have the tools that we have at our fingertips.  

    MOLLY WOOD: What are some of the most unexpected ways that you’ve used AI in your work and, if you’re comfortable, in your personal life?  

    AZEEM AZHAR: So my one power tool is that when I’m driving back after dropping my daughters to school, I will dictate my random thoughts into one of these LLMs and tell it to order them for me. And so when I get to my computer at my desk 20 minutes later, I’ve got a structured set of to-dos, but often at quite a great degree of granularity that I can sometimes just copy and paste straight into an email. So that is my work one.   

    MOLLY WOOD: Wait, wait, tell me more. So you’re like, I know I have to do this stuff, I need to blah, blah, blah, and I need to do this, and I need to email this person, I need to follow up on this. And then you say, like, can you prioritize these for me? I need an example of this because I am doing this immediately.  

    AZEEM AZHAR: Okay, fine. Right. So what I do is exactly that. It is word salad coming out of my head, it’s completely disordered. It’ll be three points about the proposal I’m sending out, then it’ll be a couple of things about a contract, then I’ll go back to the proposal and I will say to the LLM, reorganize that so it makes sense. Put it in bullet points in a structured way, thank you—I’m always very polite to these systems—and it’ll go off and do that while I’m driving, and then I’ll get out of the car and I’ll go to my desk, and it’ll be ready for me to act on. And I get it out of my head.  

    MOLLY WOOD: Amazing work hack. Are you comfortable sharing any things that you do with your normal life? For example, I just asked AI to help me plan my son’s 18th birthday party, I’m sorry, kiddo. I just need a little advice here.  

    AZEEM AZHAR: Oh, congratulations to you and to your son. I actually have found this as the first technology in 25, 30 years that has given me time back. I get so much done, so quickly. I get tired, the machines don’t get tired. And I have had time for hobbies and reading and not being at my desk, even when I get really busy. So that, I suppose, is the way it’s impacted my personal life.  

    MOLLY WOOD: Are there opportunities and challenges for AI at work that we did not touch on? What have we missed?  

    AZEEM AZHAR: You know, I think the big challenge is going to be that it really breaks the assumptions and the boundaries of what someone’s job is. And so in organizations that are not fluid learning organizations, which is the case for many, it’s going to really, really challenge the nature of a person’s work, why they work, how they work, and where that handoff to the next person is. And I think that’s really going to be a question that companies will struggle with and wrestle with. And it’ll be a few years before we know what the answer is.  

    MOLLY WOOD: And then, finally, if you fast-forward three to five years, what do you think will be the most profound change in the way we work?  

    AZEEM AZHAR: That’s an almost impossible question because the speed of change is really, really dramatic. What I would hope is that we are able to rehumanize many aspects of work and allow people to spend time in areas which humans really enjoy, and that will maybe in the social dimension, it may be in the creative or strategic dimension, or it might also just be in the dimension of ownership and getting things done. If these tools do enable that degree of productivity, that might be how work gets reshaped. I mean, getting there will be complicated because there’ll be a lot of transition, there’ll be a lot of companies that will fail, there’ll be companies that succeed. But we’d hope that the work will end up being more human and less mechanistic. 

    MOLLY WOOD: I love that. Better humans, thanks to machines. Azeem Azhar, thank you so much for the time.  

    AZEEM AZHAR: It’s my pleasure, thank you.  

    MOLLY WOOD: I think we can all agree, that was a great way to kick off this new season of WorkLab. Thank you all for joining us, and keep checking your feeds. We have more fascinating guests on the way with actionable insights that can help leaders develop an AI-first mindset, reorient their business for an era of abundant expertise, and maximize the ROI of AI. If you’ve got a question or a comment, please drop us an email at worklab@microsoft.com, and check out Microsoft’s Work Trend Indexes and the WorkLab digital publication, where you’ll find all our episodes along with thoughtful stories that explore how business leaders are thriving in today’s new world of work. You can find all of that at microsoft.com/worklab. As for this podcast, please, if you don’t mind, rate us, review us, and follow us wherever you listen. It helps us out a ton. The WorkLab podcast is a place for experts to share their insights and opinions. As students of the future of work, Microsoft values inputs from a diverse set of voices. That said, the opinions and findings of our guests are their own, and they may not necessarily reflect Microsoft’s own research or positions. WorkLab is produced by Microsoft with Godfrey Dadich Partners and Reasonable Volume. I’m your host, Molly Wood. Sharon Kallander and Matthew Duncan produced this podcast. Jessica Voelker is the WorkLab editor. 

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN presides over the Closing Ceremony of the Cambodia-ASEAN Business Summit 2025

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this evening delivered closing remarks at the Closing Ceremony of the Cambodia-ASEAN Business Summit 2025, in Phnom Penh, Cambodia, held under the theme “Accelerating ASEAN’s Connectivity: People, Infrastructure, and Trade.”  In his remarks, SG Dr. Kao highlighted the importance of building ASEAN’s future prosperity through robust infrastructure and regional connectivity, trade and investment, as well as investing in human capital.

    Download the full remarks here.

    The post Secretary-General of ASEAN presides over the Closing Ceremony of the Cambodia-ASEAN Business Summit 2025 appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Secretary-General of ASEAN Attends Gala Dinner of the Cambodia-ASEAN Business Summit 2025

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this evening attended the Gala Dinner of the Cambodia-ASEAN Business Summit 2025, held at Sofitel Phnom Penh Phokeethra. Participants in the Gala Dinner were prominent government officials, business leaders, industry experts, and key stakeholders, who gathered together to celebrate and strengthen economic ties within the region. Hosted by H.E. Dr. Say Sam Al, Deputy Prime Minister and Minister of Land Management, Urban Planning and Construction of Cambodia, the Gala Dinner underscored the importance of fostering regional collaboration and driving sustainable economic growth across ASEAN.

    The post Secretary-General of ASEAN Attends Gala Dinner of the Cambodia-ASEAN Business Summit 2025 appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Estimating Fiscal Multiplier for Qatar: Qatar

    Source: International Monetary Fund

    Summary

    Econometric results suggest that Qatar’s strong capital spending multiplier became less impactful as the stock of capital rose to a high level, likely as the marginal impact declined. This supports Qatar’s strategy to shifts the State’s role to an enabler of private sector-led growth, focusing on expenditure to support build human capital and implementation of broader reform guided by the Third National Development Strategy.

    Subject: Capital spending, Central government spending, Current spending, Expenditure, Financial institutions, Fiscal multipliers, Fiscal policy, Infrastructure, National accounts, Oil prices, Prices, Public financial management (PFM), Public investment spending, Stocks, Total expenditures

    Keywords: Capital spending, Capital spending, Central government spending, Current spending, Expenditure composition, Fiscal multiplier, Fiscal multipliers, GCC, Infrastructure, Oil prices, Public investment spending, Qatar, Sectoral analysis, Stocks, Total expenditures

    MIL OSI Economics –

  • MIL-OSI Economics: Artificial Intelligence in Qatar: Assessing the Potential Economic Impacts

    Source: International Monetary Fund

    Summary

    Qatar has been actively preparing to embrace the transformative potential of artificial intelligence (AI), allowing it to lead its Emerging Market peers in AI readiness. Qatar’s AI exposure has increased significantly over the years, and increasing AI adoption is assessed to yield more opportunities than risks for the country’s labor force, thanks to the private sector’s contribution in increasing jobs that are more likely to benefit from AI-driven productivity gains. Scenario analyses suggest that increasing AI adoption, supported by policy reforms to boost human capital, innovation and domestic knowledge spillovers, could generate sizeable labor productivity gains over the medium term.

    Subject: Agroindustries, Digitalization, Economic sectors, Human capital, Labor, Labor force, Labor markets, Labor productivity, Production, Productivity, Public sector, Technology

    Keywords: Agroindustries, Artificial Intelligence (AI), Digitalization, Employment, Human capital, Labor demand, Labor force, Labor markets, Labor productivity, Productivity, Productivity, Public sector, Qatar, Skills, Technology

    MIL OSI Economics –

  • MIL-OSI Economics: Building a Knowledge-Based Economy to Boost Growth: The Role of Export Diversification in Qatar

    Source: International Monetary Fund

    Summary

    Motivated by Qatar’s Third National Development Strategy, this note discusses ingredients for boosting export diversification and growth potential. Drawing on cross-country experiences and empirical analyses, we shed light on how successful policies supported building human capital and economic complexity, the type of strategy that could best suite Qatar’s circumstances, and pitfalls to avoid.

    Subject: Balance of payments, Comparative advantage, Economic sectors, Export diversification, Export performance, Exports, Foreign direct investment, Human capital, International trade, Labor, Manufacturing, Service exports

    Keywords: Comparative advantage, Competition, Economic complexity, Export diversification, Export diversification, Export performance, Exports, Foreign direct investment, Human capital, Human capital, Innovation, Manufacturing, Productivity, Qatar, Service exports, Third National Development Strategy

    MIL OSI Economics –