Category: Economy

  • MIL-OSI Russia: Buses will temporarily replace trams between Krasnoselskaya metro station and Belorussky railway station

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Five tram routes will be changed from July 10 during the construction of a new intersection at the intersection of Kalanchevskaya Street and Masha Poryvayeva Street. For up to 28 days, ground rail transport will not run between the Krasnoselskaya metro station and Belorussky Railway Station, as well as in the area of the Russian University of Transport (MIIT) and the Novoslobodskaya metro station. The changes will affect routes No. 7, 9, 13, 37 and 50.

    Trams will operate during this period:

    — No. 7 — from the metro station “Bulvar Rokossovskogo” to the metro station “Sokolniki”;

    — No. 9 — will not work;

    — No. 13 and 50 will be combined into a single route No. 13 50, which will run from Metrogorodok past the Krasnoselskaya, Baumanskaya and Aviamotornaya metro stations to the Compressor Culture Center;

    — No. 37 — from Novogireevo station of the fourth Moscow Central Diameter (MCD-4) to Lefortovo Bridge.

    Instead of trams, compensation buses will be launched. Bus No. 07 will run from Sokolniki metro station to Belorussky railway station, and the route of electric bus C510 will be extended from Tikhvinskaya street to Novoslobodskaya metro station.

    Passengers will also be able to use buses T88, T22, 604, the museum trolleybus T and the metro.

    Passengers are asked to plan their trips in advance, taking into account temporary restrictions and follow information about all changes in the operation of trams in the Telegram channel “Deptrans. Promptly”, on the website Moscow metro and other resources of the capital’s transport complex. Information will also be available at tram stops.

    Development of the tram network

    As a result of the work on the area of three railway stations, a three-track tram intersection will appear for the first time in the capital, said the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov. Thanks to this, the routes towards the metro stations “Prospekt Mira” and “Chistye Prudy” will be divided into directions. The work is being carried out as part of the construction of a new section along Akademika Sakharova Avenue.

    “The construction of a tram line along Akademika Sakharova Avenue is the largest tram network development project in recent decades, which is being implemented in accordance with Sergei Sobyanin’s task. Thanks to this, for the first time in the capital, there will be diametric tram routes through the city center, and the Komsomolskaya metro stations of the Circle and Sokolnicheskaya lines will be relieved by 10 percent. Convenient stops will be built on the new section and a short transfer from trams to two MCD lines will be made,” added Maxim Liksutov.

    The new tram line will connect Komsomolskaya Square with Chistoprudny Boulevard. In total, it is planned to lay more than two kilometers of tracks. With the opening of the new line, the first diametric tram routes will appear in the capital, which will connect the eastern, southern and south-eastern districts and pass through the city center. The first route will run from Metrogorodok to the Chertanovskaya metro station, and the second – from the Novogireevo station of the fourth Moscow Central Diameter to the Universitet metro station. They will connect 19 districts of Moscow and will serve about two million residents. Along the new line there are many administrative and financial institutions, such as the Ministry of Agriculture of the Russian Federation, the Federal Antimonopoly Service and the Federal Agency for State Property Management.

    Tram tracks on Academician Sakharov Avenue are being built on a separate track and will be separated from the roadway by markings. Builders are using seamless track laying technology to ensure quiet and smooth running of trams. Modern low-floor trams of Russian manufacture will be on the line. They will travel along the section on Academician Sakharov Avenue at an increased autonomous speed. This condition is included in the technical specifications for 100 new Lvenok-Moscow trams, which will arrive in the capital in 2025–2026.

    As part of the improvement of the capital’s streets, new turnouts have already been installed on Chistoprudny Boulevard in the city center, track laying continues on Academician Sakharov Avenue, and a large-scale reconstruction of tram tracks and the laying of a new section at the intersection of Kalanchevskaya Street and Masha Poryvayeva Street has begun. This will allow the new tram line along Academician Sakharov Avenue to be connected to the existing network.

    During the closure of tram traffic, specialists will also renew tram tracks in Protopopovsky Lane, on Durova and Palikha streets. Compensatory buses will run taking into account the work being carried out.

    The main reconstruction works of the tram turnaround on Chistoprudny Boulevard have been completedTram tracks are being reconstructed on Turgenevskaya Square

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

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

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

    https: //vv.mos.ru/nevs/ite/156142073/

    MIL OSI Russia News

  • MIL-OSI: Guaranteed Installment Loans for Bad Credit Direct Lenders Guaranteed Approval No Credit Check Installment Loans By Loans At Last

    Source: GlobeNewswire (MIL-OSI)

    New York City, July 02, 2025 (GLOBE NEWSWIRE) — As financial uncertainty continues to impact households across the U.S., consumers with poor credit histories are increasingly turning to guaranteed installment loans for bad credit direct lenders to manage unexpected expenses. These flexible loan options are designed to provide fast, accessible funds to borrowers who may not qualify for traditional financing.

    >>> Applicants interested in exploring installment loan options can review lender >>>

    According to a Federal Reserve study, more than 60% of Americans would find it difficult to cover a $400 emergency cost without borrowing, highlighting the critical need for alternative lending solutions. As a result, demand has surged for products such as bad credit personal loans guaranteed approval direct lenders, emergency loans online guaranteed approval, and no credit check installment loans guaranteed approval direct lender offerings.

    >>> It’s important for borrowers to understand the application process >>>

    The Growing Demand for Installment Loans for Bad Credit

    For millions of Americans, traditional bank loans come with barriers such as high credit score requirements, hard credit checks, or collateral demands. In contrast, guaranteed installment loans for bad credit direct lenders only focus on offering

    In recent years, more borrowers have been seeking alternatives to traditional bank loans due to challenges such as stringent credit requirements and limited access to emergency funds. Installment loans have become a practical option for those who prefer predictable monthly payments and flexible repayment terms. These loans are often used to manage expenses like car repairs, medical bills, or overdue utilities without requiring collateral or perfect credit histories.

    These loans help cover urgent expenses including medical bills, home or car repairs, utility payments, and more. By spreading repayments over several months or years, they offer a manageable alternative to payday loans.

    Bad Credit Personal Loans Guaranteed Approval $5,000 Meeting Larger Financial Needs

    While smaller loan amounts may address minor expenses, many emergencies require more substantial funds. Bad credit personal loans guaranteed approval $5,000 have emerged as a solution for borrowers who need higher loan amounts to manage:

    • Significant auto or home repairs
    • Medical treatments not covered by insurance
    • Consolidation of high-interest debt
    • Rent or mortgage catch-up payments

    Lenders offering these products typically review income and employment status to determine eligibility, making them accessible even for those with low credit scores. The fixed installment structure also helps borrowers plan their budgets effectively.

    No Credit Check Installment Loans Guaranteed Approval Direct Lender 

    Hard credit inquiries can lower credit scores further, discouraging some borrowers from applying for much-needed loans. No credit check installment loans guaranteed approval direct lender solutions address this by:

    Some lenders assess applicants using alternative methods rather than traditional credit checks. In these cases, they may consider factors like income level, employment stability, and overall ability to repay. This approach can reduce the likelihood of further impacting the borrower’s credit score, which is especially important for individuals working to rebuild their financial standing.

    These loans provide peace of mind to borrowers who want to avoid additional damage to their credit profiles while securing essential funds.

    Emergency Loans Online Guaranteed Approval — Quick Cash When It Counts

    Emergencies rarely wait for slow traditional loan approvals. Emergency loans online guaranteed approval have become a vital resource for:

    • Same-day or next-day funding to manage urgent expenses
    • Fast online application processes that take only minutes
    • Direct deposit of funds for immediate use

    Common uses include medical emergencies, last-minute travel, and urgent repairs to vehicles or essential home systems. These loans provide crucial support when timing is critical.

    Online Access to Installment Loan Options

    Many borrowers today are turning to online platforms to explore installment loan options. These digital tools allow consumers to compare loan types, review eligibility criteria, and submit applications from the convenience of their homes. The use of online lending has increased significantly in recent years, offering broader access to financial products across varying credit profiles.

    • Bad credit personal loans guaranteed approval $5,000 – These loans are designed for individuals with poor credit who need access to up to $5,000. They often claim guaranteed approval, but actual approval depends on income and repayment ability.
    • No credit check installment loans guaranteed approval direct lender – This type of loan allows borrowing without a credit check, often through direct lenders. Payments are made in fixed installments, and approval is generally based on income, not credit history.
    • Emergency loans online guaranteed approval – Emergency loans offer quick access to funds during urgent situations. While they advertise guaranteed approval, most lenders still require basic eligibility checks.

    This model eliminates the need to approach multiple lenders individually and helps consumers compare loan offers side-by-side.

    What to Know Before Applying

    While phrases like guaranteed loan approval no credit check and best bad credit loans guaranteed approval are appealing, responsible borrowing requires careful review. Borrowers should:

    • Confirm that lenders are licensed in their state
    • Understand all fees, APRs, and repayment terms
    • Borrow only what they can realistically repay

    About Loans at Last

    Founded in 2018, Loans at Last is an online platform that connects U.S. consumers to a network of licensed direct lenders offering installment loan options. The platform focuses on helping borrowers explore loans suited to their needs while ensuring transparency and compliance with lending regulations.

    Disclaimer

    Loans at Last is not a lender and does not make credit decisions. Loan offers, APRs, amounts, and repayment terms are determined by third-party lenders and may vary based on applicant qualifications and state law. Borrowers should review all loan terms before accepting any offer.

    Final Thought

    In today’s challenging economic climate, guaranteed installment loans for bad credit direct lenders provide vital support to Americans navigating urgent financial needs. Platforms like Loans at Last help connect borrowers to responsible lenders offering flexible options, ensuring individuals can access the funds they need with confidence.

    Project Name: Loans At Last
    Registered Office Address: 1095 Sugar View Dr Ste 500 Sheridan, WY 82801
    Company Website: https://loansatlast.com/
    Email: smith@loansatlast.com
    Phone: 307-777-7311
    Contact person name: Smith
    contact person email: smith@loansatlast.com

    Attachment

    The MIL Network

  • MIL-OSI: Guaranteed Installment Loans for Bad Credit Direct Lenders Guaranteed Approval No Credit Check Installment Loans By Loans At Last

    Source: GlobeNewswire (MIL-OSI)

    New York City, July 02, 2025 (GLOBE NEWSWIRE) — As financial uncertainty continues to impact households across the U.S., consumers with poor credit histories are increasingly turning to guaranteed installment loans for bad credit direct lenders to manage unexpected expenses. These flexible loan options are designed to provide fast, accessible funds to borrowers who may not qualify for traditional financing.

    >>> Applicants interested in exploring installment loan options can review lender >>>

    According to a Federal Reserve study, more than 60% of Americans would find it difficult to cover a $400 emergency cost without borrowing, highlighting the critical need for alternative lending solutions. As a result, demand has surged for products such as bad credit personal loans guaranteed approval direct lenders, emergency loans online guaranteed approval, and no credit check installment loans guaranteed approval direct lender offerings.

    >>> It’s important for borrowers to understand the application process >>>

    The Growing Demand for Installment Loans for Bad Credit

    For millions of Americans, traditional bank loans come with barriers such as high credit score requirements, hard credit checks, or collateral demands. In contrast, guaranteed installment loans for bad credit direct lenders only focus on offering

    In recent years, more borrowers have been seeking alternatives to traditional bank loans due to challenges such as stringent credit requirements and limited access to emergency funds. Installment loans have become a practical option for those who prefer predictable monthly payments and flexible repayment terms. These loans are often used to manage expenses like car repairs, medical bills, or overdue utilities without requiring collateral or perfect credit histories.

    These loans help cover urgent expenses including medical bills, home or car repairs, utility payments, and more. By spreading repayments over several months or years, they offer a manageable alternative to payday loans.

    Bad Credit Personal Loans Guaranteed Approval $5,000 Meeting Larger Financial Needs

    While smaller loan amounts may address minor expenses, many emergencies require more substantial funds. Bad credit personal loans guaranteed approval $5,000 have emerged as a solution for borrowers who need higher loan amounts to manage:

    • Significant auto or home repairs
    • Medical treatments not covered by insurance
    • Consolidation of high-interest debt
    • Rent or mortgage catch-up payments

    Lenders offering these products typically review income and employment status to determine eligibility, making them accessible even for those with low credit scores. The fixed installment structure also helps borrowers plan their budgets effectively.

    No Credit Check Installment Loans Guaranteed Approval Direct Lender 

    Hard credit inquiries can lower credit scores further, discouraging some borrowers from applying for much-needed loans. No credit check installment loans guaranteed approval direct lender solutions address this by:

    Some lenders assess applicants using alternative methods rather than traditional credit checks. In these cases, they may consider factors like income level, employment stability, and overall ability to repay. This approach can reduce the likelihood of further impacting the borrower’s credit score, which is especially important for individuals working to rebuild their financial standing.

    These loans provide peace of mind to borrowers who want to avoid additional damage to their credit profiles while securing essential funds.

    Emergency Loans Online Guaranteed Approval — Quick Cash When It Counts

    Emergencies rarely wait for slow traditional loan approvals. Emergency loans online guaranteed approval have become a vital resource for:

    • Same-day or next-day funding to manage urgent expenses
    • Fast online application processes that take only minutes
    • Direct deposit of funds for immediate use

    Common uses include medical emergencies, last-minute travel, and urgent repairs to vehicles or essential home systems. These loans provide crucial support when timing is critical.

    Online Access to Installment Loan Options

    Many borrowers today are turning to online platforms to explore installment loan options. These digital tools allow consumers to compare loan types, review eligibility criteria, and submit applications from the convenience of their homes. The use of online lending has increased significantly in recent years, offering broader access to financial products across varying credit profiles.

    • Bad credit personal loans guaranteed approval $5,000 – These loans are designed for individuals with poor credit who need access to up to $5,000. They often claim guaranteed approval, but actual approval depends on income and repayment ability.
    • No credit check installment loans guaranteed approval direct lender – This type of loan allows borrowing without a credit check, often through direct lenders. Payments are made in fixed installments, and approval is generally based on income, not credit history.
    • Emergency loans online guaranteed approval – Emergency loans offer quick access to funds during urgent situations. While they advertise guaranteed approval, most lenders still require basic eligibility checks.

    This model eliminates the need to approach multiple lenders individually and helps consumers compare loan offers side-by-side.

    What to Know Before Applying

    While phrases like guaranteed loan approval no credit check and best bad credit loans guaranteed approval are appealing, responsible borrowing requires careful review. Borrowers should:

    • Confirm that lenders are licensed in their state
    • Understand all fees, APRs, and repayment terms
    • Borrow only what they can realistically repay

    About Loans at Last

    Founded in 2018, Loans at Last is an online platform that connects U.S. consumers to a network of licensed direct lenders offering installment loan options. The platform focuses on helping borrowers explore loans suited to their needs while ensuring transparency and compliance with lending regulations.

    Disclaimer

    Loans at Last is not a lender and does not make credit decisions. Loan offers, APRs, amounts, and repayment terms are determined by third-party lenders and may vary based on applicant qualifications and state law. Borrowers should review all loan terms before accepting any offer.

    Final Thought

    In today’s challenging economic climate, guaranteed installment loans for bad credit direct lenders provide vital support to Americans navigating urgent financial needs. Platforms like Loans at Last help connect borrowers to responsible lenders offering flexible options, ensuring individuals can access the funds they need with confidence.

    Project Name: Loans At Last
    Registered Office Address: 1095 Sugar View Dr Ste 500 Sheridan, WY 82801
    Company Website: https://loansatlast.com/
    Email: smith@loansatlast.com
    Phone: 307-777-7311
    Contact person name: Smith
    contact person email: smith@loansatlast.com

    Attachment

    The MIL Network

  • MIL-OSI Economics: Sanjay Malhotra: Convocation address – Indian Institute of Technology

    Source: Bank for International Settlements

    Chairman of the Board of Governors, Director of the Institute, Prof and Padma Shree Manindra Agrawal, winner of numerous awards, who was my senior here and who I hold in very high esteem, faculty members, staff, proud parents, family and friends of the graduating students, distinguished guests, and my dear graduating students, alumni, ladies and gentlemen.

    Today marks the culmination of an exciting chapter for the graduating students, where you have not only learnt new things – academic and extra-curricular – but have also had an enjoyable and memorable experience. I extend a very warm congratulations to all the graduating students. Please give yourselves a huge round of applause.

    To the parents and guardians, this moment belongs as much to you as it does to your children and wards. Your innumerable sacrifices, continuous support, unconditional love and unwavering encouragement have laid the foundation upon which these young achievers now stand. I know this is an emotional and proud moment for you. I have myself experienced these emotions when my sons graduated – one from IIT Bombay and the other from IIT Guwahati. My warmest congratulations to you as your ward steps into a new chapter in life.

    Dear graduates, it is a special day for you as you enter a new and exciting phase of life. It is an equally special day for me and doubly so. First, this institute has had a transformational impact on me, my life and my thoughts. I remember with nostalgia my years at IIT. I still vividly remember my first day at IIT when my mother came to drop me with another batchmate. I recollect my days at Hall III and then Hall I, the healthy rivalry between Hall II and Hall III, phatta cricket, bulla, the various celebrations at Red Rose Restaurant on the campus and Chung Fa restaurant in the city, movies at L7, DEC 10 of which we were so proud, the iconic library, Culfest and the many friends that I made and treasure till date. The steel trunk which carried my belongings to IIT and which my loving wife has preserved till date is still with me. I still have my Wilson tennis racket, with which I religiously played every evening at the clay courts on campus. IITK has a special place in my heart. This convocation ceremony is even more special as I did not attend our convocation ceremony; in fact, we did not have a proper convocation ceremony, perhaps the only batch not to have it. So, it’s an honour to be back here after thirty-six long years in a new and privileged role and be a part of the convocation ceremony today. Thank you, IIT, for this honour.

    Times have changed a lot since I graduated. But there are certainly lessons which endure time. As a fellow-alumnus, roll number 85213, who has experienced life after campus, I will speak about four learnings from my journey.

    Learning for Life

    Many of you would have got your dream jobs. Others, who plan to pursue further studies, would get them soon. With a degree from a prestigious institute and a good job in hand, please don’t think that you have arrived. The moment you think you have arrived, you will stagnate. The moment you believe you know everything, you will stop growing.

    This is just the beginning, only the first step. The degree has only laid a solid foundation and will take you thus far. You will need to build from here. You will need to learn when you change sectors, move across organisations within a sector, take up different roles within an organization and even within the same role in an organisation. Technology is advancing at a lightning speed. What you learnt yesterday would be outdated tomorrow as new ideas and tools emerge daily.

    I can assure you that the institute has prepared you well for your life ahead. It has not only imparted you with knowledge which will be of immense use but, more importantly, equipped you with the most important tool – the tool of self-learning.

    Like other IAS officers, I worked in diverse fields like urban management, land resources, industries, power, health, taxation, banking, finance, etc. Many of them were general management but many were highly technical and specialized, which had a steep learning curve. The IITK emphasis on basic sciences and core engineering subjects, its importance to the fundamentals of a subject, its priority to deriving the formulae rather than merely memorizing and applying them, its attention to problem-solving from first principles, and various other methods of problem solving have held me in good stead. IIT gave me the necessary tools for self-learning. I am sure it has given you too the same tools.

    So, continue your quest for knowledge. Remember that learning is for life. The moment one is not learning, it is a signal that one is not growing; one is not advancing. It is knowledge which will keep you ahead of others. Its importance cannot be over-emphasized. I urge you all, as Stephen Covey said, to continuously sharpen your saw and cut the grass under your feet.

    Question the status quo

    My second learning pertains to the period between 2003 and 2006, when I was working in the United Nations. I was managing a project to improve productivity in the hand tools clusters in India. We hired a Total Quality Management expert for some of our interventions. He had long and diverse experience across organisations.

    He challenged the forging units there to reduce the time taken in changing a die from about eight hours to less than an hour. All of them including the most advanced, productive and efficient forging units vehemently denied the possibility of reducing the time. When he failed after many days of trying to convince them to improve, he suggested some changes including installation of a video camera. This was tried in a unit. These small changes reduced the time to five hours. When asked, the supervisor, apart from other things, explained that the work started on time, as scheduled; no one was late; no one took an unscheduled tea break; all required equipment were pre-arranged and kept ready for use; there was no wastage of time. The small changes and videography did the trick as everyone was being watched. What followed was a series of improvements or what are called kaizens, not only in the exchange of dies, but also various other processes – forging, grinding, electroplating, packaging, etc, as every process was questioned. We ended up reducing costs by about 10%.

    I learnt to question the status quo. I learnt that there is always scope for improvement. This helped me improve efficiency in various organisations and departments that I worked in. It helped in reducing processing time of files. I reduced turnaround times for applications. It helped me make changes in laws, rules and procedures for the benefit of citizens and government alike, as I questioned the status quo.

    As Albert Einstein famously said, “The important thing is not to stop questioning.” When you question the status quo and ask questions, you open the door to new ideas and fresh perspectives. It is fuel for innovation; it drives you to explore, experiment, and create something better. So, no matter where you are in life or your career, never stop questioning the status quo and improving.

    Pursue virtuous Karma

    The third learning pertains to my tenure as Secretary, Department of Personnel in the Government of Rajasthan in 2007-08. Promotions from the state civil service to the IAS were plagued with disputes and court cases. For almost about 20 years, no one was promoted to the IAS. My predecessors did not take up this issue as they thought it would be an exercise in futility as some aggrieved officer will approach the doors of the judiciary. When I was given responsibility for this department, I took up the gauntlet. I studied all the disputes and judicial pronouncements meticulously; decided on claims of seniority and promotion, without fear or favour; finalized and published the seniority lists; and after spending months on this mammoth exercise, sent the proposals to UPSC for promotion. Just when we were about to convene the meeting for promotion, one officer again approached the court and got a stay. Months of my hard work was brought to nought. Even though many officers commended me for the hard work and getting the matter so close to finalization, I was disappointed.

    I had to leave for Princeton for my masters within a few days and could not pursue the case in the courts. After I returned, I was put in a different department. In a few years, the court lifted the stay. I was asked if I would be interested in giving finishing touches to the work I had initiated. Once bitten, twice shy, I did not take up the challenge this time. The work was completed by another officer. In recognition of his efforts, he was conferred with the state award for civil service.

    I realized I did not follow my karma as I feared failure. I realized I needed to follow my karma boldly and decisively without bothering about the results.

    Without going in to details of my journey thereafter, today, as I look back, I can confidently say that it is karma that largely determines outcomes and results. It is the path that one chooses that broadly determines the destination. Today, I appreciate how true Steve Jobs was when he said, “You can’t connect the dots looking forward; you can only connect them looking backward.” Right now, you may not fully grasp how your karma – each late-night lab session, each frustrating bug, and each decision that you take – will impact your journey. You may not appreciate, how delayed gratification, the hallmark of all great leaders, will deliver bigger success over the longer term for the instant rewards foregone. But trust me, over time, the dots will connect and it will be in large measure due to your karma.

    Trust

    My last learning is from the student days in IIT, when we were always short of money and under debt. Food at the mess was as good as it can be. We relied heavily on the hostel canteen. A samosa at that time costed 35 paise and a bottle of Thums Up 2 rupees and 25 paise. The canteen was managed by a person called Lala. Lala was loved by everyone. He would serve us till late in night and very generously gave us credit. Even outside hostel, we got credit from the juice vendor, the shops in Shopping Centre, etc. This may not be surprising. Lala knew us, recognizing us as hostelers. Other vendors too recognized us as students from the campus. What was surprising though was that we got credit even from some shopkeepers in Kanpur, who did not know us at all. Why did these shopkeepers give credit to us? It is because of their trust in the IIT students.

    It is because people do business with people they trust. Trust is the foundation on which any relationship is built, whether it is marriage, friendship, or at workplace – between the CEO and the employees, or between a company and its consumers.

    It is trust in a person that makes him a leader; it is trust which makes people follow a leader. Integrity and ethics are paramount to develop trust. It is not easy to gain trust. To earn trust, a leader must have the courage to take difficult decisions. He must act in the interest of the employees and other stakeholders. He must be willing to accept responsibility. He must lead by example. He must possess the humility to learn from his mistakes. He must be just, transparent and respectful. Trust takes time to build. But it is easy to lose trust. To be a successful person, a successful leader, graduating students, try to gain trust and having gained it, preserve trust.

    Your time to shine

    To conclude, dear graduating students, as you leave this campus today, have confidence in yourself. Dream big, but more importantly, act on those dreams. Make IIT Kanpur proud. Make your parents proud. Make India proud. But most importantly, make yourselves proud – proud by living lives of character, ethics and humility; lives filled with purpose, service and impact. As you step into tomorrow, carry with you the spirit of this institution, carry with you the love of your families, and carry with you the dreams of a billion Indians who believe in your potential.

    Your journey of transformation began here at IIT Kanpur. Now, transform the world as leaders who are trustworthy; who continue learning for life; who question the status quo and who pursue virtuous karma.

    May God bless you with all the very best in your journey ahead.

    Thank you.

    Jai Hind.

    MIL OSI Economics

  • MIL-OSI Economics: Sanjay Malhotra: Convocation address – Indian Institute of Technology

    Source: Bank for International Settlements

    Chairman of the Board of Governors, Director of the Institute, Prof and Padma Shree Manindra Agrawal, winner of numerous awards, who was my senior here and who I hold in very high esteem, faculty members, staff, proud parents, family and friends of the graduating students, distinguished guests, and my dear graduating students, alumni, ladies and gentlemen.

    Today marks the culmination of an exciting chapter for the graduating students, where you have not only learnt new things – academic and extra-curricular – but have also had an enjoyable and memorable experience. I extend a very warm congratulations to all the graduating students. Please give yourselves a huge round of applause.

    To the parents and guardians, this moment belongs as much to you as it does to your children and wards. Your innumerable sacrifices, continuous support, unconditional love and unwavering encouragement have laid the foundation upon which these young achievers now stand. I know this is an emotional and proud moment for you. I have myself experienced these emotions when my sons graduated – one from IIT Bombay and the other from IIT Guwahati. My warmest congratulations to you as your ward steps into a new chapter in life.

    Dear graduates, it is a special day for you as you enter a new and exciting phase of life. It is an equally special day for me and doubly so. First, this institute has had a transformational impact on me, my life and my thoughts. I remember with nostalgia my years at IIT. I still vividly remember my first day at IIT when my mother came to drop me with another batchmate. I recollect my days at Hall III and then Hall I, the healthy rivalry between Hall II and Hall III, phatta cricket, bulla, the various celebrations at Red Rose Restaurant on the campus and Chung Fa restaurant in the city, movies at L7, DEC 10 of which we were so proud, the iconic library, Culfest and the many friends that I made and treasure till date. The steel trunk which carried my belongings to IIT and which my loving wife has preserved till date is still with me. I still have my Wilson tennis racket, with which I religiously played every evening at the clay courts on campus. IITK has a special place in my heart. This convocation ceremony is even more special as I did not attend our convocation ceremony; in fact, we did not have a proper convocation ceremony, perhaps the only batch not to have it. So, it’s an honour to be back here after thirty-six long years in a new and privileged role and be a part of the convocation ceremony today. Thank you, IIT, for this honour.

    Times have changed a lot since I graduated. But there are certainly lessons which endure time. As a fellow-alumnus, roll number 85213, who has experienced life after campus, I will speak about four learnings from my journey.

    Learning for Life

    Many of you would have got your dream jobs. Others, who plan to pursue further studies, would get them soon. With a degree from a prestigious institute and a good job in hand, please don’t think that you have arrived. The moment you think you have arrived, you will stagnate. The moment you believe you know everything, you will stop growing.

    This is just the beginning, only the first step. The degree has only laid a solid foundation and will take you thus far. You will need to build from here. You will need to learn when you change sectors, move across organisations within a sector, take up different roles within an organization and even within the same role in an organisation. Technology is advancing at a lightning speed. What you learnt yesterday would be outdated tomorrow as new ideas and tools emerge daily.

    I can assure you that the institute has prepared you well for your life ahead. It has not only imparted you with knowledge which will be of immense use but, more importantly, equipped you with the most important tool – the tool of self-learning.

    Like other IAS officers, I worked in diverse fields like urban management, land resources, industries, power, health, taxation, banking, finance, etc. Many of them were general management but many were highly technical and specialized, which had a steep learning curve. The IITK emphasis on basic sciences and core engineering subjects, its importance to the fundamentals of a subject, its priority to deriving the formulae rather than merely memorizing and applying them, its attention to problem-solving from first principles, and various other methods of problem solving have held me in good stead. IIT gave me the necessary tools for self-learning. I am sure it has given you too the same tools.

    So, continue your quest for knowledge. Remember that learning is for life. The moment one is not learning, it is a signal that one is not growing; one is not advancing. It is knowledge which will keep you ahead of others. Its importance cannot be over-emphasized. I urge you all, as Stephen Covey said, to continuously sharpen your saw and cut the grass under your feet.

    Question the status quo

    My second learning pertains to the period between 2003 and 2006, when I was working in the United Nations. I was managing a project to improve productivity in the hand tools clusters in India. We hired a Total Quality Management expert for some of our interventions. He had long and diverse experience across organisations.

    He challenged the forging units there to reduce the time taken in changing a die from about eight hours to less than an hour. All of them including the most advanced, productive and efficient forging units vehemently denied the possibility of reducing the time. When he failed after many days of trying to convince them to improve, he suggested some changes including installation of a video camera. This was tried in a unit. These small changes reduced the time to five hours. When asked, the supervisor, apart from other things, explained that the work started on time, as scheduled; no one was late; no one took an unscheduled tea break; all required equipment were pre-arranged and kept ready for use; there was no wastage of time. The small changes and videography did the trick as everyone was being watched. What followed was a series of improvements or what are called kaizens, not only in the exchange of dies, but also various other processes – forging, grinding, electroplating, packaging, etc, as every process was questioned. We ended up reducing costs by about 10%.

    I learnt to question the status quo. I learnt that there is always scope for improvement. This helped me improve efficiency in various organisations and departments that I worked in. It helped in reducing processing time of files. I reduced turnaround times for applications. It helped me make changes in laws, rules and procedures for the benefit of citizens and government alike, as I questioned the status quo.

    As Albert Einstein famously said, “The important thing is not to stop questioning.” When you question the status quo and ask questions, you open the door to new ideas and fresh perspectives. It is fuel for innovation; it drives you to explore, experiment, and create something better. So, no matter where you are in life or your career, never stop questioning the status quo and improving.

    Pursue virtuous Karma

    The third learning pertains to my tenure as Secretary, Department of Personnel in the Government of Rajasthan in 2007-08. Promotions from the state civil service to the IAS were plagued with disputes and court cases. For almost about 20 years, no one was promoted to the IAS. My predecessors did not take up this issue as they thought it would be an exercise in futility as some aggrieved officer will approach the doors of the judiciary. When I was given responsibility for this department, I took up the gauntlet. I studied all the disputes and judicial pronouncements meticulously; decided on claims of seniority and promotion, without fear or favour; finalized and published the seniority lists; and after spending months on this mammoth exercise, sent the proposals to UPSC for promotion. Just when we were about to convene the meeting for promotion, one officer again approached the court and got a stay. Months of my hard work was brought to nought. Even though many officers commended me for the hard work and getting the matter so close to finalization, I was disappointed.

    I had to leave for Princeton for my masters within a few days and could not pursue the case in the courts. After I returned, I was put in a different department. In a few years, the court lifted the stay. I was asked if I would be interested in giving finishing touches to the work I had initiated. Once bitten, twice shy, I did not take up the challenge this time. The work was completed by another officer. In recognition of his efforts, he was conferred with the state award for civil service.

    I realized I did not follow my karma as I feared failure. I realized I needed to follow my karma boldly and decisively without bothering about the results.

    Without going in to details of my journey thereafter, today, as I look back, I can confidently say that it is karma that largely determines outcomes and results. It is the path that one chooses that broadly determines the destination. Today, I appreciate how true Steve Jobs was when he said, “You can’t connect the dots looking forward; you can only connect them looking backward.” Right now, you may not fully grasp how your karma – each late-night lab session, each frustrating bug, and each decision that you take – will impact your journey. You may not appreciate, how delayed gratification, the hallmark of all great leaders, will deliver bigger success over the longer term for the instant rewards foregone. But trust me, over time, the dots will connect and it will be in large measure due to your karma.

    Trust

    My last learning is from the student days in IIT, when we were always short of money and under debt. Food at the mess was as good as it can be. We relied heavily on the hostel canteen. A samosa at that time costed 35 paise and a bottle of Thums Up 2 rupees and 25 paise. The canteen was managed by a person called Lala. Lala was loved by everyone. He would serve us till late in night and very generously gave us credit. Even outside hostel, we got credit from the juice vendor, the shops in Shopping Centre, etc. This may not be surprising. Lala knew us, recognizing us as hostelers. Other vendors too recognized us as students from the campus. What was surprising though was that we got credit even from some shopkeepers in Kanpur, who did not know us at all. Why did these shopkeepers give credit to us? It is because of their trust in the IIT students.

    It is because people do business with people they trust. Trust is the foundation on which any relationship is built, whether it is marriage, friendship, or at workplace – between the CEO and the employees, or between a company and its consumers.

    It is trust in a person that makes him a leader; it is trust which makes people follow a leader. Integrity and ethics are paramount to develop trust. It is not easy to gain trust. To earn trust, a leader must have the courage to take difficult decisions. He must act in the interest of the employees and other stakeholders. He must be willing to accept responsibility. He must lead by example. He must possess the humility to learn from his mistakes. He must be just, transparent and respectful. Trust takes time to build. But it is easy to lose trust. To be a successful person, a successful leader, graduating students, try to gain trust and having gained it, preserve trust.

    Your time to shine

    To conclude, dear graduating students, as you leave this campus today, have confidence in yourself. Dream big, but more importantly, act on those dreams. Make IIT Kanpur proud. Make your parents proud. Make India proud. But most importantly, make yourselves proud – proud by living lives of character, ethics and humility; lives filled with purpose, service and impact. As you step into tomorrow, carry with you the spirit of this institution, carry with you the love of your families, and carry with you the dreams of a billion Indians who believe in your potential.

    Your journey of transformation began here at IIT Kanpur. Now, transform the world as leaders who are trustworthy; who continue learning for life; who question the status quo and who pursue virtuous karma.

    May God bless you with all the very best in your journey ahead.

    Thank you.

    Jai Hind.

    MIL OSI Economics

  • MIL-OSI Economics: Christopher J Waller: Welcoming remarks – IJCB Research Conference

    Source: Bank for International Settlements

    Thank you, Aleš, and thank you to the Czech National Bank (CNB) for hosting this year’s conference. The CNB also supported this conference in 2017. It is wonderful to have such a great relationship between the International Journal of Central Banking (IJCB) and one of our sponsoring institutions.

    I would like to take a few minutes as the outgoing managing editor of the IJCB to emphasize the importance of this journal and the research it supports.1 Central banks play an important role promoting the growth and effective functioning of their economies, and many of the decisions they make are influenced by careful and cutting-edge research. In fact, I recently gave a speech that discussed the importance of economic research in monetary policy decisions.2 The IJCB, through this conference and its volumes, provides an outlet to share and disseminate research that adds to public knowledge and understanding and informs the operational and policy decisions of central bankers.

    The value of central bank–focused research has long been known. In the summer of 2004, the Bank for International Settlements (BIS), the European Central Bank, and the Group of Ten central banks agreed to support the development of the IJCB to focus on the theory and practice of central banking. The journal has attracted distinguished managing editors, including my colleagues from the Federal Reserve; my immediate predecessor, Luc Laeven, from the European Central Bank; and the current managing editor, Antoine Martin, from the Swiss National Bank, who, unfortunately, could not be here today. We have the strong support now of nearly 55 sponsoring institutions, including the Czech National Bank and also the host of last year’s conference, the Central Bank of Italy. Among the ways that central banks serve the public interest is as an ongoing source of economic research, and the strong commitment to the IJCB here in Prague and other capitals advances our collective interest in strong economies and financial stability.

    Turning to this year’s conference, we chose the theme based on events that have been very much on the minds of central bankers: “Assessing the Effectiveness of Monetary Policy during and after the COVID-19 Pandemic.” The past several years have seen significant monetary policy actions across the globe in response to COVID-19–induced recessions, inflation higher than in several decades, unprecedented supply chain disruptions, and, in some countries, very tight labor markets. Early on, policymakers’ responses appeared quite in sync, but with differing speeds of recovery and varying challenges faced by different types of economies, that changed over time. Additionally, geopolitical tensions and energy price shocks have introduced new complexities. So we thought this conference could be a good place to come together and hear about the lessons we have learned from these common and different experiences.

    Today and tomorrow we will be discussing the yield curve, policy rules, and monetary policy transmission. We also will look into banking issues such as loan issuance and financial stability. And we are lucky to have the Fed’s Vice Chair for Supervision Miki Bowman here to give a keynote speech. As we go through these sessions, I hope we will all ask ourselves how this work can help policymakers do their jobs better. Through our conversation, I would ask you to share knowledge about each of these topics as they are pertinent around the world.

    But before we get to those presentations, and what I hope will be vigorous discussion, let me recognize several people who made this event possible. Here at the CNB, Simona Malovaná and Martin Hodula helped organize this conference. Year round, the IJCB co-editors devote many hours of their time to review papers to keep the journal at its high-quality and high-impact status. These individuals are Ana Babus, Diana Bonfim, Huberto Ennis, Carlos Garriga (who is here with us today), Refet Gürkaynak, Òscar Jordà, Robin Lumsdaine, Fernanda Nechio, Steven Ongena, and Enrico Sete. Finally, for the past three years, the day-to-day smooth running of the journal couldn’t have been accomplished without the editorial team at the BIS and the Board of Governors. A special thank you goes to my team: Kommaly Dias, Jane Ihrig, and Elie Singer, who worked to oversee the process.

    And with that, I will step away from the microphone and put the spotlight where it should be, on the scholars presenting their work today. Thank you, and I believe Martin has a few words to get us started.


    MIL OSI Economics

  • MIL-OSI Economics: Christopher J Waller: Welcoming remarks – IJCB Research Conference

    Source: Bank for International Settlements

    Thank you, Aleš, and thank you to the Czech National Bank (CNB) for hosting this year’s conference. The CNB also supported this conference in 2017. It is wonderful to have such a great relationship between the International Journal of Central Banking (IJCB) and one of our sponsoring institutions.

    I would like to take a few minutes as the outgoing managing editor of the IJCB to emphasize the importance of this journal and the research it supports.1 Central banks play an important role promoting the growth and effective functioning of their economies, and many of the decisions they make are influenced by careful and cutting-edge research. In fact, I recently gave a speech that discussed the importance of economic research in monetary policy decisions.2 The IJCB, through this conference and its volumes, provides an outlet to share and disseminate research that adds to public knowledge and understanding and informs the operational and policy decisions of central bankers.

    The value of central bank–focused research has long been known. In the summer of 2004, the Bank for International Settlements (BIS), the European Central Bank, and the Group of Ten central banks agreed to support the development of the IJCB to focus on the theory and practice of central banking. The journal has attracted distinguished managing editors, including my colleagues from the Federal Reserve; my immediate predecessor, Luc Laeven, from the European Central Bank; and the current managing editor, Antoine Martin, from the Swiss National Bank, who, unfortunately, could not be here today. We have the strong support now of nearly 55 sponsoring institutions, including the Czech National Bank and also the host of last year’s conference, the Central Bank of Italy. Among the ways that central banks serve the public interest is as an ongoing source of economic research, and the strong commitment to the IJCB here in Prague and other capitals advances our collective interest in strong economies and financial stability.

    Turning to this year’s conference, we chose the theme based on events that have been very much on the minds of central bankers: “Assessing the Effectiveness of Monetary Policy during and after the COVID-19 Pandemic.” The past several years have seen significant monetary policy actions across the globe in response to COVID-19–induced recessions, inflation higher than in several decades, unprecedented supply chain disruptions, and, in some countries, very tight labor markets. Early on, policymakers’ responses appeared quite in sync, but with differing speeds of recovery and varying challenges faced by different types of economies, that changed over time. Additionally, geopolitical tensions and energy price shocks have introduced new complexities. So we thought this conference could be a good place to come together and hear about the lessons we have learned from these common and different experiences.

    Today and tomorrow we will be discussing the yield curve, policy rules, and monetary policy transmission. We also will look into banking issues such as loan issuance and financial stability. And we are lucky to have the Fed’s Vice Chair for Supervision Miki Bowman here to give a keynote speech. As we go through these sessions, I hope we will all ask ourselves how this work can help policymakers do their jobs better. Through our conversation, I would ask you to share knowledge about each of these topics as they are pertinent around the world.

    But before we get to those presentations, and what I hope will be vigorous discussion, let me recognize several people who made this event possible. Here at the CNB, Simona Malovaná and Martin Hodula helped organize this conference. Year round, the IJCB co-editors devote many hours of their time to review papers to keep the journal at its high-quality and high-impact status. These individuals are Ana Babus, Diana Bonfim, Huberto Ennis, Carlos Garriga (who is here with us today), Refet Gürkaynak, Òscar Jordà, Robin Lumsdaine, Fernanda Nechio, Steven Ongena, and Enrico Sete. Finally, for the past three years, the day-to-day smooth running of the journal couldn’t have been accomplished without the editorial team at the BIS and the Board of Governors. A special thank you goes to my team: Kommaly Dias, Jane Ihrig, and Elie Singer, who worked to oversee the process.

    And with that, I will step away from the microphone and put the spotlight where it should be, on the scholars presenting their work today. Thank you, and I believe Martin has a few words to get us started.


    MIL OSI Economics

  • MIL-OSI Russia: Polytechnic University teachers completed internships at enterprises in the real sector of the economy

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Employees of the Institute of Industrial Management, Economics and Trade completed an internship at the production sites of the Obukhov Plant. They studied the application of lean manufacturing principles in the context of the military-industrial complex. The teachers also completed an internship at the Gazprom Corporate Institute, aimed at teaching digital transformation and corporate management.

    In order to improve their qualifications and study the best practices of enterprises in the real sector of the economy, 12 teachers of the Higher School of Industrial Management completed a specialized internship at the production sites of the scientific and production association “North-West Regional Center of the Almaz-Antey Air Defense Concern – Obukhov Plant”. The emphasis was on the development of a lean manufacturing management system (Lean) at enterprises of the military-industrial complex (MIC).

    The internship included a detailed introduction to real production processes in the key workshops of the enterprise: thermal and mechanical processing, galvanic and foundry, as well as other technological areas. The teachers immersed themselves in the specifics of applying lean manufacturing principles in the conditions of a high-tech defense enterprise.

    The program covered several relevant areas:

    lean manufacturing in logistics: optimization of internal material flows, organization of warehouse management and supply systems; labor standards and production organization: methods of analysis and optimization of work operations, increasing labor productivity based on the Lean approach; information technology in lean manufacturing: use of digital tools for visualization of flows, data analysis and process management.

    The internship participants not only observed the work of the workshops, but also actively discussed with plant representatives specific cases and successful solutions in the field of implementation and development of the Lean system in the specific environment of the defense industry.

    We learned how lean manufacturing principles are adapted and work in the highly responsible sphere of the military-industrial complex. Of particular interest were practical solutions in the field of Lean logistics and the use of IT for managing production flows. This experience is invaluable for further work on training personnel and developing educational programs that are as close as possible to the real needs of leading industrial enterprises, including the defense sector, – shared the head of the cluster of educational programs “Industry Management”, associate professor of the Higher School of Management Management Irina Bagaeva.

    The internship was another step in strengthening the interaction between the Polytechnic University and the Obukhov Plant as an industrial partner. We see a real mutual enrichment of ideas and experience between our organizations. This is beneficial both in the educational activities of the university and in the production processes of the industrial enterprise, – said the head of the scientific and production association “North-West Regional Center of the Air Defense Concern “Almaz-Antey” – Obukhov Plant” Sergey Baushev.

    In addition, the teachers of the Higher School of Management and Management completed an internship at the Gazprom Corporate Institute in the educational complex located in the innovative business space “Lakhta Center”. They studied one of the most relevant vectors of development of education and the economy – corporate training in the context of digital transformation and the introduction of information technology.

    The event was organized and curated by specialists from the educational projects department of the Corporate Institute, headed by Deputy Director for Academic Affairs Vladislav Plotnikov. The program included a presentation of corporate approaches to training, a round table, and a question and answer session with representatives of the institute’s top management. The participants included teachers and specialists from the Higher School of Management and Management, involved in the development and implementation of educational programs related to the digital economy and the transformation of production management.

    Internships of teachers at the Obukhov Plant and the Gazprom Corporate Institute are an important element of our institute’s interaction with the real sector of the economy. The systematic practice of internships allows teachers to form new professional competencies, master practical skills and knowledge of modern technologies and methods of work in production, and update educational programs to meet employers’ requests, commented Vladimir Shchepinin, Director of the IPMEiT.

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

    MIL OSI Russia News

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

    Source: Republic of China Taiwan

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

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

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

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

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

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

    MIL OSI Asia Pacific News

  • MIL-OSI Africa: Children’s lives ‘turned upside down’ by wars across Middle East, North Africa, warns the United Nations Children’s Fund (UNICEF)


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    Alarmingly, 110 million children in the region live in countries affected by war, with homes, schools and health facilities damaged or destroyed in fighting.

    “A child’s life is being turned upside down the equivalent of every five seconds due to the conflicts in the region,” said Edouard Beigbeder, UNICEF Regional Director for the Middle East and North Africa, on Tuesday.

    UNICEF estimates indicate that 45 million children across the region will require humanitarian assistance in 2025, a 41 per cent increase since 2020.  

    Funding shortfalls  

    However, funding gaps are affecting vital programmes across the region.

    For instance, as of May, Syria faced a 78 per cent funding gap and the State of Palestine a 68 per cent gap for their 2025 appeals. UNICEF’s regional programmes are also under increasing financial strain.

    The outlook for 2026 also remains bleak, UNICEF said, noting that its funding for Middle East and North Africa is projected to decline by 20 to 25 per cent, potentially resulting in shortfalls of up to $370 million.

    Conflicts must stop  

    This would jeopardize lifesaving programmes across the region, including treatment for severe malnutrition, safe water production in conflict zones and vaccinations against deadly diseases.

    “As the plight of children in the region worsens, the resources to respond are becoming sparser,” said Mr. Beigbeder.

    “Conflicts must stop. International advocacy to resolve these crises must intensify. And support for vulnerable children must increase, not decline.”

    Distributed by APO Group on behalf of UN News.

    MIL OSI Africa

  • MIL-OSI Asia-Pac: LCQ11: Developing tourism projects with distinctive intellectual properties

    Source: Hong Kong Government special administrative region

    LCQ11: Developing tourism projects with distinctive intellectual properties 
    Question:
     
    There are views that Hong Kong has a number of intellectual property (IP) projects with local characteristics, among which the film “Twilight of the Warriors: Walled In” has been well received both locally and overseas. In Japan, a restaurant has even launched peripheral food products inspired by the film, which sell out every day. Moreover, many film fans have visited Hong Kong for sightseeing due to the film, demonstrating the unlimited business opportunities of IP tourism. In this connection, will the Government inform this Council:
     
    (1) whether it has compiled statistics on the number of visitors attracted to Hong Kong by IP projects, cultural events and mega-events with local characteristics in the past three years, as well as their places of origin, length of stay in Hong Kong, and consumption amounts and patterns; if so, of the details; if not, the reasons for that, and whether it will consider compiling such statistics;
     
    (2) as some members of the industry and academics have pointed out that tourism projects dominated by a single IP are difficult to sustain, and that the long-term strategy should be linking up multiple IPs of the same type to create synergy effects (e.g. Hong Kong can explore combining the IP of “Twilight of the Warriors: Walled In” and those of a number of classic Hong Kong films to build a “Hong Kong version of Universal Studios”, with a view to maximising the cultural benefits of Hong Kong films), whether the Government has considered formulating a strategy to promote collaboration between different IP holders and the tourism industry; if so, of the details; if not, the reasons for that; and
     
    (3) whether the Government has formulated a dedicated strategy for IP tourism, such as strengthening the protection and promotion of existing distinctive IP projects and related attractions, and actively introducing measures to encourage and support IP creation and the development of related attractions; if so, of the details; if not, the reasons for that, and whether it will consider formulating relevant strategies?
     
    Reply:
     
    President,
     
    The current Government has established the Culture, Sports and Tourism Bureau (CSTB) to promote the integrated development of culture, sports and tourism. The Cultural and Creative Industries Development Agency (CCIDA) under the CSTB proactively strengthens its support towards the industrialisation development of the cultural and creative industries and provides a platform to foster cross-sectoral and cross-genre collaborations among cultural and creative sectors for cultural intellectual property (IP). We fully encourage industries such as catering, retailing and tourism to make use of the rich IP resources in Hong Kong to achieve synergy, attract tourists and explore business opportunities.
     
    My reply to the various parts of the question raised by the Hon Jeffrey Lam’s question, in consultation with the Intellectual Property Department (IPD), is as follows:
     
    There are a number of attractions in Hong Kong with local characteristics and tourism appeal, such as Victoria Harbour, the Hong Kong Disneyland Resort (HKDL), the Ocean Park (OP), the Peak Tram, the Hong Kong Ferris Wheel, Ngong Ping 360. They are also IPs with strong Hong Kong’s cultural characteristics. The CSTB and the Hong Kong Tourism Board (HKTB) have been striving to promote tourism by making good use of these cultural IPs and the international image of Hong Kong.
     
    In 2024, Hong Kong hosted over 240 mega events, attracting about two million visitors from mainly the Mainland and Southeast Asia region, and bringing a total spending of about HK$7.5 billion and added value of about HK$4.5 billion to the economy. Many of these mega events featured local characteristics and made good use of well-known IPs, such as the “100% DORAEMON & FRIENDS” Tour, Pokémon GO City Safari, PANDA GO! FEST HK, ComplexCon Hong Kong, Hypefest Hong Kong, Animation-Comic-Game Hong Kong (ACGHK), and “A Path to Glory – Jin Yong’s Centennial Memorial • The World of Wuxia”, etc. In 2025, we continue to welcome events filled with IP elements, such as “CHIIKAWA DAYS” Exhibition, the opening of CR7® LIFE Museum Hong Kong, ACGHK 2025, “Comic Fun for All: The Magic of Hong Kong Comedy Comics” showcasing various local comics and Hong Kong Fashion Fest.
     
    We have been making use of attractive IP-themed events to enrich visitors’ travel and entertainment experience and stimulate spending. The HKTB proactively collaborates with event organisers to provide all round support, including driving local tourism through events. For example, during “100% DORAEMON & FRIENDS” Tour, the HKTB partnered with the exhibition organiser to present “Anywhere Door” at ten tourist spots in Hong Kong, attracting visitors and locals to explore the city and take photos. The HKTB also collaborates with IPs in flagship events and integrates with signature IPs to further promote tourism. For example, in organising the Hong Kong International Dragon Boat Races in 2023 and 2024, the HKTB collaborated with the world’s popular IP, LINE FRIENDS, to set up LINE FRIENDS dragon boat photo spots along the Avenue of Stars to attract visitors and locals to take photos and enjoy the races. Both visitors and locals could also purchase Hong Kong-exclusive merchandise designed for the races during the event period. 
     
    In terms of tourism promotion through leveraging movie IPs, the HKTB collaborated with the movie producer and relevant units to launch a movie exhibition titled “Live out the Cinematic Charm of Hong Kong” Twilight of the Warriors: Walled In. The exhibition was first staged at the Hong Kong International Airport and then AIRSIDE at Kai Tak, Kowloon City. In parallel, merchandise vendors on site offered classic dishes, nostalgic toys and movie merchandise to create business opportunities. The CCIDA also organises the three-year “Kowloon Walled City: A Cinematic Journey” Movie Set Exhibition at the Kowloon Walled City Park, showcasing more movie sets and local traditional craftsmanship displays, recreating scenes of the Walled City. Over 42 000 locals and tourists were attracted in the first month since its opening in May this year, driving catering and retailing spending in the vicinity.
     
    In terms of theme parks, the HKDL, a landmark attraction with rich IP features, has been introducing various unique facilities and events to attract visitors, including the opening of the world’s first ever and largest Frozen-themed land, the new Marvel-themed area under planning, the 20th anniversary celebration and an all-new Pixar entertainment experience. On the other hand, the OP, capitalising on its advantage of being home to the largest number of giant pandas outside the Mainland, has created the giant pandas’ IPs according to the physical traits of the six giant pandas and launched giant panda-related promotional activities, merchandise, cultural and creative products, video games, tourism products, etc, with Hong Kong’s characteristics. In addition to the extensive use of the giant pandas’ IPs in OP’s social media content and merchandise, the OP will continue to make use of the relevant IP to launch giant panda-themed festive events, immersive experience activities, light shows, thematic performances, amusement facilities, etc, and partner with different organisations to promote the IPs.
     
    Separately, the CCIDA, through the CreateSmart Initiative (CSI), has funded and promoted various IP projects that integrate local animation and comic culture with tourism. These include the two-year AniCom Sports Park which showcases 36 locally created AniCom characters from different eras, each paired with a sports-themed design, such as “Old Master Q” with snooker, “Dragon Shik” with boxing and “My Boy” with table tennis, echoing the Olympic Games Paris and the National Games to promote the innovative experience of integrating culture, sports and tourism in Hong Kong. Since its launch in July 2024, the project has attracted about 460 000 locals tourists. The Hong Kong Avenue of Comic Stars, with the theme of local original comics, has drawn over three million visitors to date. The project was enhanced and updated in late 2024, now featuring 76 coloured figurines of local comic characters created by 100 artists, such as “Wang Xiao Hu”, “Hero Wah” and “MinBao Gor”, along with a 50-meter-long large-scale comic wall and interactive installations. In half a year, it attracted over 850 000 visitors with approximately 40 per cent of them being tourists. The annual mega event, the ACGHK, brings together comics and animation, mobile/computer games and art toy creations from Hong Kong, the Mainland and overseas, attracting about 250 000 tourists from the Mainland and overseas annually. The ACGHK 2025 will feature four projects, namely the Hong Kong International Art Toys Expo, the International Comic Artist Conference and Exhibition, the Comics Masters Gathering Hong Kong, and the Hong Kong Comics Support Programme Pavilion. Apart from showcasing over 100 art toys and comic works from Hong Kong, the Mainland and overseas, there will also be sharing sessions and workshops led by comic masters. The CCIDA will strengthen publicity in order to attract visitors from the Mainland and overseas.
     
    On upholding and strengthening IP protection, the Government continues to drive the development of local IP (including cultural IP), enhance the local IP regime, ensuring that it keeps abreast of the times, aligns with international trends, and meets Hong Kong’s economic needs, including the implementation of the Copyright (Amendment) Ordinance 2022 to strengthen copyright protection in the digital environment, and a comprehensive review of the local registered designs regime and plans to launch a public consultation within this year. A robust IP protection regime can foster the sustainable development of local cultural and creative industries, as well as help drive the growth of related industry chains, including tourism, thereby spurring the development of the economy. The CCIDA is also actively supporting cultural IP projects, including those related to tourism, through CSI, and driving applicants to make applications for IP protection for their cultural and creative products, formulate IP agreements and manage IP portfolios, etc, so as to assist creators in exploring business opportunities.
     
    The IPD advocates for the messages of respecting creativity and IP protection through producing and disseminating promotional materials and videos. At the same time, it is committed to implementing the “No Fakes Pledge” Scheme and the “I Pledge” Campaign to encourage the selling and buying of genuine goods among local retailers, tourists and consumers. The “No Fakes Pledge” Scheme has garnered widespread support from local businesses over the years, with an average annual participation of over 1 500 retail merchants and 7 000 outlets/online shops.
     
    The Government will continue to support IP creation, construction and cross-over through innovative thinking, combining with our edges in technology, animation and comics, the performing arts, film and television culture to attract more tourists to come to Hong Kong to experience the unique local cultural connotation. We also hope that the catering, retailing and tourism industries can make good use of IP projects to explore business opportunities and implement the concept of “tourism is everywhere in Hong Kong” together.
    Issued at HKT 14:22

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI: Lightchain AI Launches Final Bonus Phase After Raising $21.1M Ahead of July 2025 Mainnet Launch

    Source: GlobeNewswire (MIL-OSI)

    SHREWSBURY, United Kingdom, July 02, 2025 (GLOBE NEWSWIRE) — Lightchain AI, an AI-native decentralized infrastructure platform, today announced the start of its Final Bonus Phase, following the successful completion of all 15 presale stages and the achievement of a major milestone—$21.1 million raised from a global community of early contributors. This final round offers a fixed price of $0.007125 per LCAI token, providing one last opportunity for participants ahead of the mainnet launch scheduled for July 2025.

    This announcement marks a critical moment for the Lightchain AI ecosystem, as strong participation and sustained growth continue to validate the project’s technical vision and long-term potential. With a scalable architecture, transparent governance, and clear utility for developers and validators, Lightchain AI is laying the groundwork for decentralized AI applications across industries.

    AI-Native Blockchain Infrastructure

    Lightchain AI is designed from the ground up to support real-time artificial intelligence workloads within a blockchain environment. At the core of the platform is its proprietary Artificial Intelligence Virtual Machine (AIVM), which allows for the decentralized execution of AI models and logic.

    The network uses a novel Proof-of-Intelligence (PoI) consensus model that rewards validator nodes for performing computationally meaningful AI tasks. This enables Lightchain AI to offer more than just transactional throughput—it provides functional intelligence that can be deployed securely and transparently on-chain.

    Strategic Tokenomics and Developer Support

    The project’s tokenomics are structured to promote long-term ecosystem health and decentralization. Notably, the original 5% Team Allocation has been fully removed and reallocated to developer incentives, staking rewards, and infrastructure support. Of the total supply, 40% has been allocated to presale and 15% reserved for staking, incentivizing validators to secure the network post-mainnet.

    In parallel, Lightchain AI has launched a $150,000 Developer Grant Program to support builders developing tools, decentralized applications, and infrastructure services. The Lightchain Developer Portal, now live, provides APIs, SDKs, and documentation to accelerate onboarding. Public GitHub repositories are also scheduled to go live shortly, reinforcing transparency and enabling open-source collaboration.

    Final Bonus Phase Open Now

    The Final Bonus Phase features fixed pricing and exclusive access to token holders ahead of the mainnet. Participants in this round will also benefit from ongoing ecosystem incentives, including grant eligibility, early validator opportunities, and developer support.

    “With over $21 million raised and a global community rallying behind the vision, the Final Bonus Phase offers one last opportunity to join Lightchain AI before it transitions to mainnet,” said a Lightchain AI spokesperson. “This is not just a funding milestone—it’s the beginning of a decentralized AI movement.”

    Key Upcoming Milestones

    • Mainnet Launch – Scheduled for July 2025
    • Validator Program – Ongoing recruitment for early node operators
    • Public GitHub Access – Launching in Q3 2025
    • Grant Program Distribution – Begins shortly after mainnet launch


    Learn More or Join the Bonus Phase

    Website: https://lightchain.ai
    Whitepaper: https://lightchain.ai/lightchain-whitepaper.pdf
    Twitter/X: https://x.com/LightchainAI
    Telegram: https://t.me/LightchainProtocol

    Contact:
    SHAJAN SKARIA
    media@lightchain.ai

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bbd06b6d-b7b1-4fef-82bf-6ce0ea6bd454

    The MIL Network

  • MIL-OSI: Due to EY non-compliance with audit partner rotation rules, Shell to update 2023 and 2024 Form 20-Fs; financial statements remain unchanged

    Source: GlobeNewswire (MIL-OSI)

    Due to EY non-compliance with audit partner rotation rules, Shell to update 2023 and 2024 Form 20-Fs; financial statements remain unchanged

    London, July 2, 2025 – Ernst & Young LLP (“EY”) has advised Shell plc that, for the years ended December 31, 2023 and 2024, EY was not in compliance with the SEC auditor independence rules. As a result, Shell plc will today file an amendment to its filed Form 20-Fs for those years with new US audit opinions issued by EY. The financial statements for 2023 and 2024 remain unchanged. The EY audit opinions remain unqualified.

    Additional notes

    On July 1, 2025, EY, Shell plc’s independent registered public accounting firm, advised the Audit and Risk Committee of the Board that its US opinions on Shell plc’s previously issued audited consolidated financial statements and effectiveness of internal control over financial reporting (jointly the “previously issued financial statements”) for the years ended and as of December 31, 2023 and 2024 (the “applicable years”), respectively, should no longer be relied upon. After a review, EY concluded that it was not in compliance with the SEC’s auditor independence rules for the audits of the applicable years.

    EY has determined that the partner who led the audit for the applicable years had exceeded the period allowed under SEC audit partner rotation rules and hence was not eligible to serve as lead engagement partner for those audits. 

    EY subsequently assigned a different partner to perform the role of lead audit partner with respect to the audits and concluded that no changes to the previously issued financial statements for the applicable years are necessary. EY has also concluded that the appropriate remediation has been completed, and it is capable of exercising objective and impartial judgment with respect to the US audit opinions included in the amended Form 20-Fs for the applicable years to be filed with the SEC.

    The previously issued financial statements as prepared by Shell plc for the applicable years are unchanged. Shell plc will file amended Form 20-Fs for the applicable years later today.

    Notes to editors 

    • SEC refers to the US Securities and Exchange Commission.
    • To reflect the new issuance date of the Consolidated Financial Statements, consequential updates were included with respect to the going concern period and the Post balance sheet events note to the Consolidated Financial Statements. Save for these items, the previously issued financial statements and other notes have not changed. The EY audit opinions remain unqualified.
    • EY also advised the Audit and Risk Committee of the Board that the time limitations under the UK Financial Reporting Council’s Revised Ethical Standard regarding rotation of partners had been exceeded. Follow-up is a matter between EY and the UK Financial Reporting Council.  No amended filings are required in the UK.
    • Ernst & Young LLP is the UK member firm of the EY network.

    Enquiries

    Shell Media Relations International: +44 20 7934 5550
    US Media RelationsContact Shell US Media Team

    LEI number of Shell plc: 21380068P1DRHMJ8KU70
    Classification: Additional regulated information required to be disclosed under the laws of the United Kingdom

    The MIL Network

  • MIL-OSI: Due to EY non-compliance with audit partner rotation rules, Shell to update 2023 and 2024 Form 20-Fs; financial statements remain unchanged

    Source: GlobeNewswire (MIL-OSI)

    Due to EY non-compliance with audit partner rotation rules, Shell to update 2023 and 2024 Form 20-Fs; financial statements remain unchanged

    London, July 2, 2025 – Ernst & Young LLP (“EY”) has advised Shell plc that, for the years ended December 31, 2023 and 2024, EY was not in compliance with the SEC auditor independence rules. As a result, Shell plc will today file an amendment to its filed Form 20-Fs for those years with new US audit opinions issued by EY. The financial statements for 2023 and 2024 remain unchanged. The EY audit opinions remain unqualified.

    Additional notes

    On July 1, 2025, EY, Shell plc’s independent registered public accounting firm, advised the Audit and Risk Committee of the Board that its US opinions on Shell plc’s previously issued audited consolidated financial statements and effectiveness of internal control over financial reporting (jointly the “previously issued financial statements”) for the years ended and as of December 31, 2023 and 2024 (the “applicable years”), respectively, should no longer be relied upon. After a review, EY concluded that it was not in compliance with the SEC’s auditor independence rules for the audits of the applicable years.

    EY has determined that the partner who led the audit for the applicable years had exceeded the period allowed under SEC audit partner rotation rules and hence was not eligible to serve as lead engagement partner for those audits. 

    EY subsequently assigned a different partner to perform the role of lead audit partner with respect to the audits and concluded that no changes to the previously issued financial statements for the applicable years are necessary. EY has also concluded that the appropriate remediation has been completed, and it is capable of exercising objective and impartial judgment with respect to the US audit opinions included in the amended Form 20-Fs for the applicable years to be filed with the SEC.

    The previously issued financial statements as prepared by Shell plc for the applicable years are unchanged. Shell plc will file amended Form 20-Fs for the applicable years later today.

    Notes to editors 

    • SEC refers to the US Securities and Exchange Commission.
    • To reflect the new issuance date of the Consolidated Financial Statements, consequential updates were included with respect to the going concern period and the Post balance sheet events note to the Consolidated Financial Statements. Save for these items, the previously issued financial statements and other notes have not changed. The EY audit opinions remain unqualified.
    • EY also advised the Audit and Risk Committee of the Board that the time limitations under the UK Financial Reporting Council’s Revised Ethical Standard regarding rotation of partners had been exceeded. Follow-up is a matter between EY and the UK Financial Reporting Council.  No amended filings are required in the UK.
    • Ernst & Young LLP is the UK member firm of the EY network.

    Enquiries

    Shell Media Relations International: +44 20 7934 5550
    US Media RelationsContact Shell US Media Team

    LEI number of Shell plc: 21380068P1DRHMJ8KU70
    Classification: Additional regulated information required to be disclosed under the laws of the United Kingdom

    The MIL Network

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

    Source: Bank for International Settlements

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

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

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

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

    The Capital Region

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

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

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

    The Soft Data

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

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

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

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

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

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

    The Hard Data

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

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

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

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

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

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

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

    What does this all mean for the economy going forward?

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

    Monetary Policy

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

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

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

    The Economic Outlook

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

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

    Conclusion

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

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

    MIL OSI Economics

  • MIL-OSI Economics: Andrew Bailey: Revisiting the Norman Conquest of $4.86. Thoughts for the world today

    Source: Bank for International Settlements

    It is a great pleasure to have the opportunity to open this conference. You could say that it is an example of the endearing British sense of humour that we organise a conference on what is commonly regarded as one of the less good economic decisions in the country’s history. You may add that what I have just said demonstrates another British characteristic, the calculated British sense of understatement. Actually, as I hope to show, there remain lessons to be learned from the events. And, I do follow the wise advice of Ken Arrow, that “It will always be true that practical understanding of the present will require knowledge of the past.” 1

    Two other things before I get properly started. First, my title is unashamedly a lift from the sub-title of Donald Moggridge’s book on British monetary policy in the period2, which – as Adam Tooze has recently commented – is one of the best such sub-titles. On this, can I also say how nice it is that Susan will participate in the panel session today. It wouldn’t be the same if we could not personally record the major contribution of Susan and Don in this field. And, it is of course sad that Don isn’t with us.

    The second point is to mention something that I find amusing about the events around the return to gold. Montagu Norman kept a diary, which is available on-line on the Bank’s website. On the day it was announced by Winston Churchill at 4.30pm in the House of Commons, Norman wrote in large capitals in his diary, “GOLD STANDARD”. In this day and age, I think we can describe it as putting the caps lock on and going full Trump.

    On to more serious stuff. I am not going to give a full account of the events of 1925, I am going to be selective to illustrate a few points. One way to look at the episode is as a clash between domestic and international priorities. Norman took an international view – I will come on to describe it more fully. His biographer Andrew Boyle commented that he ardently believed that Europe could only begin to count on lasting peace and prosperity once Britain reinstated the gold standard3.

    In contrast, Don concluded forcefully that Norman failed to understand the domestic context, and showed very little apparent interest in doing so. The wild card in this is the position of Keynes. I will come onto this, but I do think the most pithy observation here came from Don when he observed that over time Keynes advocated almost every possible form of exchange rate arrangement.

    I am going to set out very briefly, and rather selectively, some of the arguments on the international versus domestic cases, and then use these to draw out a few points that I think are of relevance today.

    There are a number of strands to the international argument, but they come together in the conviction that the gold standard was the best form of monetary anchor at the time, that it was an open economy anchor in the sense that it had anchored across countries in a world of large capital and trade flows, and that in doing so before the First World War it had worked. It provided certainty on the terms of international trade and thus lowered transaction costs. Douglas Irwin has concluded that studies have attributed up to 20% of the growth of world trade between 1880 and 1910 to the benefits of greater certainty and lower transactions costs4. Allied to this is the argument that before the First World War adherence to the gold standard was an effective signal of credibility which had beneficial consequences for a country’s external borrowing cost. Estimates put this benefit as up to 30 basis points5.

    I would add two further elements of the broad international argument for returning at the pre-war parity. The first is the view that the experience of hyper-inflation in a number of European economies after the First World War heightened the attraction of sticking to the pre-war anchor. The second is that returning to gold at the established parity, and lowering transactions costs by doing so, would benefit the City of London as a financial centre, and most particularly if the UK led the way in doing so.

    The problem was of course that by returning in this way the burden of adjustment fell on domestic wages and prices. These had been sufficiently flexible in the late nineteenth century, but in the face of smaller economic shocks than were to emerge after 1925.

    But at the pre-war parity sterling was overvalued – domestic prices were now higher relative to other countries. This was the essence of the Keynes critique, namely that a central bank with the objective of fixing the value of its currency in terms of gold could not use monetary policy to stabilise domestic prices, which should be the objective6. In stable times, the gold standard worked because there was no conflict between a fixed exchange rate and stable domestic prices. But that was not the case when the economic shocks were larger, and because domestic prices were relatively higher the impact was to force deflation. We can add to this that in terms of the impact on borrowing costs noted earlier, the actual evidence suggests that while countries returning to gold at pre-war parities did lower their costs of borrowing, those who devalued on return gained somewhat more, though the evidence is open to some interpretation7.

    A further problem that was revealed by the larger shocks that occurred after return concerned the asymmetry of adjustment. The gold standard did not provide an explicit remit for monetary policy. It was supposed to work on the basis of the price-specie flow mechanism set out by David Hume, where gold flows were determined by monetary conditions, backed up by central banks following the “rules of the game”, with appropriate interest rate and balance sheet policies. In this way, prices would adjust to restore Balance of Payments equilibrium. Whether central banks always followed those rules in the pre-1914 gold standard is debated, but the system seemed to work, at least in in times of smaller shocks. But with the larger shocks of the late 1920s and 1930s, deviating from those rules mattered. The surplus countries (France and the US) sterilised gold inflows and thus prevented the equilibrating mechanism through domestic price adjustment. Irwin estimates that between 1928 and 1930, the US and France demonetised 11% of the world’s gold stock, thereby contributing to further deflation8.

    Before concluding on the relevance for today, I want to draw out a further point. As I noted earlier, it is quite hard to pin down exactly what exchange rate regime Keynes did prefer, as distinct from the ones he did not like. As Irwin notes, by 1925 he was certainly an opponent of the return to the pre-War parity under the gold standard.

    But he favoured exchange rate stability and was sceptical that flexible exchange rates could solve Balance of Payments problems9. He appreciated therefore that by preferring domestic employment goals and exchange rate management, he was ruling out open capital flows. This put him at odds with Norman. In fact, James Meade – the subject of a new biography by Susan10 – was one of the few economists of the period whose views were more aligned to the modern preference of free floating exchange rates, free trade and domestic monetary policy goals.

    Turning to the relevance of 1925 for today’s issues, I want to finish by drawing out three points where there are interesting parallels.

    The first concerns the robustness of monetary regimes. The gold standard stood up to the test of the shocks of the nineteenth century, but did not stand up to the much larger shocks of the inter-war period, and particularly the late 1920s and 1930s. Our regime today, based on the nominal anchor of the domestic inflation target, was developed over the decade or so before the financial crisis. In contrast to the gold standard, I think that it has stood up well to the larger shocks of recent years starting with the financial crisis. Our judgement to date is that it has contributed well to reducing inflation persistence following the shocks of recent years.

    The second point is closely related. Some countries went back onto gold and introduced flexibility by adjusting their parities from the pre-war level. As I described earlier, this was not the UK approach, and not only was this Norman’s strong preference, but returning at the pre-war parity was the conclusion of both committees set up to examine the issue, starting with the Cunliffe Committee of 1918. In the well-known words of former Chancellor Reginald McKenna to Churchill: “There is no escape, you have to go back, but it will be hell”. For Churchill, it was a matter of “Shackling ourselves to reality”11. But this begs the question, how much flexibility can be included in an anchor without compromising it?

    More recent UK history is interesting here. In the days immediately pre-Bank independence, the UK started with an inflation target range, and then switched to a point target.

    This strikes me as a sensible limitation of flexibility to promote the credibility of the target. But after the financial crisis and the following recession, the target regime was modified to allow more flexibility in the pace of return to target where there are so-called trade-off conditions between activity and inflation. This “constrained discretion” is limited but useful flexibility. The appropriateness of flexibility therefore remains an important judgement.

    The third point concerns international adjustment under the gold standard, and, as I noted earlier, the asymmetry between surplus and deficit countries when it came to so-called equilibrating gold flows.

    This meant that surplus countries had the incentive and the ability to put more of the adjustment burden onto the deficit countries, as was the case with France and the US. The adjustment asymmetry point was subsequently built into the Bretton Woods regime. Today, we have another version of this issue when we look at the US-China trade position and the associated imbalances. The asymmetry may not be the same, or indeed present even, but it is reasonable to believe that it might be a feature.

    To end, all of this reinforces for me the benefits of going back to review the 1925 decision – there is much to study and learn.

    Thank you.

    I would like to thank Michael Anson, Oliver Bush, Karen Jude, Martin Seneca, Alan Taylor and Ryland Thomas for their help in the preparation of these remarks.


    MIL OSI Economics

  • MIL-OSI Russia: China to Release 100 Examples of China-SCO Digital Economy Cooperation

    Translation. Region: Russian Federal

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

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

    TIANJIN, July 2 (Xinhua) — The Shanghai Cooperation Organization (SCO) Forum on Digital Economy to be held in north China’s Tianjin from July 10 to 11 will release 100 classic examples of cooperation between China and other SCO countries in the digital economy, Song Xianrong, a spokesperson for the State Data Administration, said at a press conference on Thursday.

    According to her, significant results have been achieved in recent years in the above-mentioned area in cooperation between China and other member countries of the organization.

    In March this year, the National Data System conducted a selection of typical examples of cooperation between China and the SCO countries in the field of digital economy, selecting more than 100 such examples, covering all SCO countries in the fields of innovative application of digital technologies, digital infrastructure, digital transformation of industry, digital industrial parks, digital people’s welfare and digital security.

    China will continue to improve cooperation mechanisms, reduce trade barriers, join forces with other countries to build an open, inclusive and comprehensive digital economic environment, and make greater contributions to global governance, she said. -0-

    MIL OSI Russia News

  • MIL-OSI: DNO Secures North Sea Gas Offtake and Related USD 500 Million Financing Facility; Adds Arrows to its Quiver

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 2 July 2025 – DNO ASA, the Norwegian oil and gas operator, today announced that the Company’s wholly-owned Norway operating subsidiaries have entered into an offtake agreement with France’s ENGIE SA for DNO’s Norwegian gas production and secured a related offtake financing facility with a major US bank for up to USD 500 million.

    The offtake agreement covers the entirety of DNO’s Norwegian gas production post acquisition of Sval Energi Group AS, offers premium pricing and has a tenor of four years as from 1 October 2025.

    Related to the agreement, DNO has entered into an offtake financing facility with a US bank for up to USD 500 million. Under the facility, DNO is paid, by the bank, the value of up to 270 days of scheduled gas production based on future gas sales receivables. The all-in interest rate for drawn amounts under the facility is significantly below conventional reserve-based lending (RBL) terms available to DNO, with no charges for undrawn amounts. There are no financial covenants related to the facility.

    Proceeds from the offtake financing facility will be used to replace Sval Energi’s similar existing facilities as well as for general corporate purposes.

    “We have received strong interest by buyers to prepurchase our enlarged North Sea production of 80,000 barrels of oil equivalent per day split about equally between oil and gas,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani. “These three-way transactions are made possible because buyers are eager to lock in secure supplies of Norwegian oil and gas and US banks, in particular, have significantly stepped up fossil fuel lending,” he explained.

    Given availability of attractive offtake financing terms, DNO has repaid and will not renew over USD 600 million in RBLs across its North Sea subsidiaries. In addition, the Company has borrowed USD 300 million under a one-year bank bridge loan “to add more arrows to our quiver,” according to Mr. Mossavar-Rahmani.

    Separately, DNO is in discussions to establish an offtake agreement and related financing facility on comparable terms for its North Sea oil production.

    – 

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    – 

    DNO ASA is a leading Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire and Yemen. More information is available at www.dno.no.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

    The MIL Network

  • MIL-OSI: DNO Secures North Sea Gas Offtake and Related USD 500 Million Financing Facility; Adds Arrows to its Quiver

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 2 July 2025 – DNO ASA, the Norwegian oil and gas operator, today announced that the Company’s wholly-owned Norway operating subsidiaries have entered into an offtake agreement with France’s ENGIE SA for DNO’s Norwegian gas production and secured a related offtake financing facility with a major US bank for up to USD 500 million.

    The offtake agreement covers the entirety of DNO’s Norwegian gas production post acquisition of Sval Energi Group AS, offers premium pricing and has a tenor of four years as from 1 October 2025.

    Related to the agreement, DNO has entered into an offtake financing facility with a US bank for up to USD 500 million. Under the facility, DNO is paid, by the bank, the value of up to 270 days of scheduled gas production based on future gas sales receivables. The all-in interest rate for drawn amounts under the facility is significantly below conventional reserve-based lending (RBL) terms available to DNO, with no charges for undrawn amounts. There are no financial covenants related to the facility.

    Proceeds from the offtake financing facility will be used to replace Sval Energi’s similar existing facilities as well as for general corporate purposes.

    “We have received strong interest by buyers to prepurchase our enlarged North Sea production of 80,000 barrels of oil equivalent per day split about equally between oil and gas,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani. “These three-way transactions are made possible because buyers are eager to lock in secure supplies of Norwegian oil and gas and US banks, in particular, have significantly stepped up fossil fuel lending,” he explained.

    Given availability of attractive offtake financing terms, DNO has repaid and will not renew over USD 600 million in RBLs across its North Sea subsidiaries. In addition, the Company has borrowed USD 300 million under a one-year bank bridge loan “to add more arrows to our quiver,” according to Mr. Mossavar-Rahmani.

    Separately, DNO is in discussions to establish an offtake agreement and related financing facility on comparable terms for its North Sea oil production.

    – 

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    – 

    DNO ASA is a leading Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire and Yemen. More information is available at www.dno.no.

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

    The MIL Network

  • MIL-OSI New Zealand: Supporting New Zealanders into work

    Source: New Zealand Government

    Social Development and Employment Minister Louise Upston says a strong turnout for the first in a series of regional employment events reinforces a cross-sector commitment to get Kiwis into jobs, boost employment and grow the economy.
    Kicking off the MSD-led series in Levin, Minister Upston and officials met with representatives of around 30 employers and other stakeholders, reinforcing job opportunities across the Horowhenua and Kāpiti Coast regions.
    “It was great to attend this event, acknowledge the commitment of MSD and recognise the partnership with local employers,” Louise Upston says.
    “That’s because this Government is focused on a Going for Growth strategy which includes a key emphasis on developing the talent of our people. 
    “These events reinforce that. They’re about people, about maximising the potential of Kiwis, about raising their earning potential while also ensuring businesses can access the people they need to help them complete globally and grow.
    “The Government has an ambitious target to reduce the number of people on the Jobseeker Benefit by 50,000 by 2030. MSD and employers are key to this.
    “We know we can’t do it alone, and need support from the community, employers and training organisations to achieve this goal. 
    “To continue discussions about how we can work together to achieve the Jobseeker reduction target, MSD will host a number of events to bring together employers, providers and community organisations.
    “The focus for the Levin/Horowhenua Supporting New Zealanders Into Work event was ensuring employers and partners are motivated to invest in the good of their communities by training or employing MSD clients, and that they know how MSDs products and services can support them. 
    “It provided a great opportunity for local employers and organisations to discuss how we can all work together to understand workforce needs and address workforce challenges.
    “This week, I’m attending two more MSD-hosted events in the Hutt Valley and in Gisborne, with additional dates to be confirmed around the country.
    “Again, I want to acknowledge the work of MSD staff in getting people into jobs, with work exits up 11 per cent on the same time a year ago.    As we saw in Levin last night, MSD are doing a great job engaging proactively with both Jobseekers and with employers.
    “We know the faster we can help beneficiaries – especially young people – find sustainable employment, the better the outcomes for them, their families, our communities, and our economy.
    “That’s why we’ve introduced more early intervention through a new phone-based employment case management service which includes 6,000 18-24-year-old clients in this service, we’ve got 2,100 more places for young people to get community job coaching, more regular work seminars, and a traffic light system to help them stay on track with their obligations.
    “The new Relocate for Work Support payment will also make it easier for people to move to take up sustainable employment. 
    “All of these initiatives are helping on the frontline, and that matters because  ‘work’ is about more than money. It also gives people a sense of purpose, independence, connectedness – leading to a better future and helping families break out of the cycle of inter-generational welfare dependence.”

    MIL OSI New Zealand News

  • MIL-OSI Australia: Doorstop – University of Technology Sydney

    Source: Murray Darling Basin Authority

    KATHLEEN BAIRD, HEAD OF SCHOOL OF NURSING AND MIDWIFERY: Good morning, everyone. Firstly, I’d like to acknowledge the Gadigal people of the Eora Nation on whose land UTS stands. And I welcome you all to UTS. I’m Kathy Baird, Professor Kathy Baird, and I’m the Head of the School of Nursing and Midwifery. It is an absolute honour to welcome the Minister for Education, the Honourable Jason Clare, to UTS this morning.

    I do also want to acknowledge the Commonwealth’s ongoing support through the placement payment for our student nurses and midwives. This initiative will provide much-needed financial support to our students during their clinical placements. It will help to ease the burden they face while they gain the practical skills required. Their dedication, resilience and compassion are the foundation of the future of nursing [indistinct] will be built.

    I’d also like to thank the students that came here this morning. And I would like to hand over to Minister Clare. Thank you.

    JASON CLARE, MINISTER FOR EDUCATION: Thanks very much. And a big thank you to UTS for letting me visit today to talk about something which is dear to my heart and I think is going to be really important in supporting the teachers and nurses and midwives and social workers that are training in our universities now that are getting an education in our universities right now to help them with their studies, with the cost of living while they’re studying, and help them to complete their degree.

    When I got this job a couple of years ago, I remember talking to some nursing students who talked to me about placement poverty. It was something that I hadn’t heard of before. Now I understand. And it’s because of the stories that they told me. There’s a lot of nursing students who work in our hospitals right now as assistants in nursing, and it’s a part-time job where they’re getting paid to work in a hospital while they’re studying here at university. But a big part of their degree is also prac, practical training. And it’s something like 800 hours of practical training that they have to do as part of their degree.

    And often that prac will happen at the same hospital where they’ve got a part-time job, but while they’re doing their prac, they can’t do that job. So, they’re working in the same hospital, but they’re no longer being paid. And that’s what placement poverty looks like. It means that you don’t have the money that you ordinarily would have to pay the bills, to pay for parking, pay for public transport. And it can make life harder.

    The end result of that is that some students who start a degree, like nursing or teaching, don’t finish it. For some students, prac also means you have to move away from home to do it. And that can make life more difficult as well. It can mean giving up your part-time job because you’re not living around the corner while you’re doing the practical training.

    This was a key recommendation of the Universities Accord, which is a big report. It’s a blueprint for how we reform higher education in Australia over the next decade and the decade after that. And I released that report early last year, and at the budget last year, I announced that we’d allocate almost over a half a billion dollars to fund paid prac. I think I was here to talk about that then. And it’s terrific to be back at UTS on the week that it starts, where we’re bringing the words from that report to life and making it real. And, most importantly, making a difference to the sort of people I got to meet today.

    This applies to teaching students, to nursing students, to midwifery students and social work students. These are some of the most important professions in our country. These are young people who one day will teach our kids or look after us when we’re sick, who will help women giving birth, who’ll help women fleeing domestic violence. And this is a bit of practical help while you do your practical training.

    Can I just pass over to Dorsa who I got the privilege to meet this morning, who’s a third-year midwifery student here at UTS, to tell your story about what drew you to midwifery and how you think this payment might help.

    DORSA NEMATIAN: Thank you so much, Minister Clare. So I am a refugee from Iran who has been doing a midwifery course for the past three years. I started off with a degree in Bachelor of Medical Science, which helped made me realise that it wasn’t for me, and I was more drawn to midwifery and childbirth, which is the reason why I made the switch. Obviously, this Commonwealth Prac Payment will make the difference between surviving through the practical part of our degree to just enjoying it and being able to learn while we’re undertaking our practice.

    JOURNALIST: So there has been a huge slump in the number of students on youth allowance, and experts are warning that we may not meet our tertiary education targets if low-education and regional students aren’t going to uni. Would you consider raising the rate of those payments or loosening eligibility requirements?

    CLARE: We’ve already increased youth allowance as well as rental assistance. You are right that what we do need to do over the next decade and beyond is help more young people finish school and then go on to TAFE or university to get the qualifications that the jobs that are in demand now and that are going to be in even more demand in the decades ahead. There’s no part of the economy where jobs are growing faster than in nursing and in health care. That’s for sure.

    Yesterday I formally announced the creation of the Australian Tertiary Education Commission in its interim reform, and it kicked off yesterday, headed up by Professor Mary O’Kane, who is the author or the lead author of the Universities Accord. And she makes the point there that we’re not going to have the workforce that we need – something like four out of five workers in the economy with a university degree or a TAFE qualification – unless we break down that barrier that stops a lot of young people, particularly from disadvantaged backgrounds, from poorer backgrounds and from the regions and the bush, from getting a crack at university in the first place and then going on and finishing their degree.

    And that’s why the prac payment is part of this. It’s definitely part of it, support for people while they do their practical training, but it’s not the only thing that we’re doing. Next year, you’ll see the rollout of funding reform for the way our universities are funded. And, in particular, funding reform to help the sort of people that you mentioned in your question, people from disadvantaged backgrounds. And part of that is developing and rolling out a needs-based funding system a little like the Gonski model for schools for universities.

    JOURNALIST: What do you think that slump is due to?

    CLARE: We’ve seen over the course of this year and last year an increase in the total number of young people enrolling in courses at university. That’s a good sign. The number of people going to university, the number of Australians going to university, has been in decline pretty much since 2017. There was a bump during COVID. That was a bit of an anomaly where people were locked at home and enrolled in courses. But overall, we’ve seen a decline in the number of Aussies enrolling in uni degrees until last year when it jumped up, and now it’s jumping up again this year. It’s on track to be the highest number of Australians enrolling in either an undergraduate degree or a postgraduate degree on record. So that’s a good thing.

    As I say, it’s not just people leaping out of school to study at university; it’s also people going back to uni to reskill, to upskill, get more skills. So that’s a good sign. But the Universities Accord is about building on that and what more we need to do it to support more people into university and into TAFE. I mentioned the funding reforms that will take place next year. Another part of it is making sure that TAFE and university work better together. We shouldn’t see them as two separate systems; we should be thinking about how they can be more joined up or integrated, how some of what you do at TAFE can be counted when you go to university and vice versa.

    We were having a chat, Dorsa mentioned that she did another course before she went into midwifery. Some of that is counted towards this course. That means that the degree is shorter than it otherwise would be, and costs less. But that’s a good example of what we can do more of here.

    In terms of helping people with the cost of higher education, the best example I can really point to is the cut to HECS that I’ll introduce into the Parliament in the next few weeks. The first bill that we’ll introduce into the Parliament will cut the student debt for 3 million Australians by 20 per cent. This will cut $16 billion dollars off the debt of ordinary Aussies. For the average Australian, it will cut their debt by more than five and a half grand. And that’s a big deal that will make a big difference.

    JOURNALIST: Do you want to move into child care now?

    CLARE: I’ll just make some comments off the top. Any Australian who heard the news from Victoria yesterday would be sickened by what they heard. And for every parent that is directly affected by this in Victoria, they would be frightened and they’d be angry. They would be bloody angry. And I know that they’re angry because one of those parents is a friend of mine, and her two little girls are directly affected by this. And I won’t tell you what she told me last night because you can’t repeat it on television. But she’s right to be mad. I’m mad. I think anyone who works in the early education system, and there’s hundreds of thousands of fantastic people who do, would be angry today as well. And my friend is mad because of all of the stress and the trauma and the crap that she and her girls are going to have to go through in the weeks ahead.

    This is serious, and it requires serious action. I was informed about this by the Victorian Government a little over a week ago. It’s one of the reasons why I put this on the top of the agenda when Education Ministers met last week. Let me be clear, when Education Ministers met to discuss child safety last week, we didn’t discuss this case, but we discussed what are the next steps that we need to take as a nation to make sure that our kids are safe in early education and care.

    There are things that we’ve already done. We’ve banned the use of personal mobile phones and devices in child care centres, and we did that for a reason. We’ve also changed the rules around mandatory reporting from seven days to 24 hours where there are complaints about sexual or physical abuse. I’ve got to tell you, we did that for a reason.

    And there are other things that are also underway. I mentioned yesterday and again this morning the legislation that I’ll bring to the Parliament which is about making sure that if services aren’t up to scratch, that they aren’t meeting the safety and the quality standards that we expect as a country, that we have the power as a Government to cut their funding off. And that’s important, too, because there’s nothing more important than the safety of our kids in early education and care.

    And there’s more to do. That’s what the meeting of Education Ministers on Friday was all about. We’ve seen the awful revelations out of the Four Corners investigation led by Adele Ferguson only a couple of months ago, and the Wheeler Report that was released last Thursday. Ministers had the opportunity at that meeting to be briefed by Chris, to be briefed by Mr Wheeler, and to go through his recommendations. But we were also briefed by Gabrielle Sinclair, who’s the head of ACECQA, about the actions she recommends we take in the light of the Four Corners investigation. And now Ministers are working together on a package of further reforms that are needed to make sure that our early education and care centres are as safe as they need to be.

    JOURNALIST: Minister, on that legislation you’re planning to introduce, how serious would a breach have to be for a centre to have their funding cut? What sort of threshold are we talking about?

    CLARE: All of that will be set out in the legislation that we’re working on right now. I mentioned to David on RN this morning that I’ve directed my Department to get that legislation drafted as quick as possible. It will deal with a number of things. As we announced back in March when we announced our intention to legislate in this area, it’s about that, it’s about cutting off funding to centres where there’s egregious behaviour by a centre. It’s also about stopping them from getting permission to expand and open other centres. But not just that; it’s also about stopping a provider or an employee who works in a centre who’s been found to be a bad actor from moving out of the child care sector into another part of the care economy, for example, in the NDIS. And we saw examples of that in the Four Corners investigation.

    JOURNALIST: Do you think there should be a tougher background checking process for those who have a working with children check?

    CLARE: I said this morning that it’s taken too long to do the work necessary to make sure that our working with children check system is up to scratch. And I’ve spoken a number of times with the Attorney-General, Michelle Rowland, the new Attorney-General, and I think I can safely speak on her behalf that she agrees and is determined to take the action necessary here to make sure that our working with children checks across the nation are up to scratch. That will be something that will be discussed by Attorneys-General when they meet next month. The Attorney-General is doing a press conference at the moment, and she’ll have more to say on that.

    The only other point I would make on working with children checks is that they’re not the only thing that we need to fix or reform. They’re not a silver bullet. There are too many examples where a perpetrator is eventually caught and arrested and sentenced. They’re somebody that got a working with children check because they had no prior criminal record. And so it’s only one of the things that we need to focus on here if we’re serious about making sure that we keep our kids

    JOURNALIST: You mentioned you wanted those – that legislation through as fast as possible. Can we expect to see these changes made this year?

    CLARE: Yes.

    JOURNALIST: Do you – the National Children’s Commissioner says the sector’s regulators need to be stronger, need more teeth to act. Has the government been slow to respond to these calls?

    CLARE: You can never be fast enough here. And the honest answer is the work here will never be done. There will always be bad people that try and break through the system and the safety. And so the work here will never be done. But what the Commissioner is talking about there are one of the things that Ministers are focused on and looking at right now.

    JOURNALIST: So will the Government make nationally harmonised working with children checks a priority? So those were recommended in 2015. How complicated will they be to enact, and why hasn’t it been done yet?

    CLARE: Similar answer to the one I gave just a moment ago. And the Attorney-General will be able to speak to that in more detail. But this is one of the things that Attorneys are looking at when they meet next month. They’re looking at what you described as harmonisation or mutual recognition, the sharing of information across borders, but also potentially near real-time updates to working with children checks, where criminal record checks or criminal records change. There’s a big piece of work that’s going on nationally with all the states and territories here. But as you rightly point out, the work can’t happen soon enough.

    JOURNALIST: Would you support the introduction of mandatory CCTV in child care centres?

    CLARE: CCTV itself was the subject of a recommendation by Chris Wheeler in his report that was handed down on Thursday. And that recommendation was about installing CCTV in centres where there has been previous breaches, where there is concern by the regulator about safety and quality in those centres. The New South Wales Government has given in-principle support for that recommendation. The Victorian Government I think, will have more to say about that today. And this is one of the things that Ministers are looking at across the board as we develop nationwide reforms. That’s different, though, to the question you asked about making it mandatory. The advice from experts at the moment is targeted based on centres which have demonstrated that they’re not up to scratch.

    JOURNALIST: The Victorian Greens have been calling for a royal commission into the sector. Do you – would you support that?

    CLARE: We’ve had a royal commission. We’ve got the recommendations. After Australia’s worst paedophile was arrested and convicted in Queensland just over two years ago, I commissioned a review into child safety. We’ve got those recommendations as well. Now we’ve got the Wheeler Report. We’ll get more evidence and more information out of what the Victorian Government is announcing today. We know what we need to do. It’s how we do it and how we pull all of that together and get the whole country acting as one.

    Okay, thanks very much, everybody.
     

    MIL OSI News

  • EU to add international CO2 credits to next climate goal

    Source: Government of India

    Source: Government of India (4)

    The European Commission will on Wednesday propose an EU climate target for 2040 that for the first time will allow countries to use carbon credits from developing nations to meet a limited share of their emissions goal, a draft of the proposal showed.

    The draft, seen by Reuters, said the European Union executive would propose a legally-binding target to cut net greenhouse gas emissions by 90% by 2040, from 1990 levels – with the aim of keeping the EU on course for its core climate aim to reach net zero emissions by 2050.

    But following pressure from governments including France, Germany, Italy, Poland and the Czech Republic, the draft EU proposal includes flexibilities that would soften the 90% emissions target for European industries.

    Previous EU emissions targets have been based entirely on domestic emissions cuts.

    Reflecting Germany’s public stance, up to 3 percentage points of the 2040 target can be covered by carbon credits bought from other countries through a U.N.-backed market, the draft said, reducing the effort required by domestic industries.

    The carbon credits would be phased in from 2036, and the EU will propose legislation “setting robust and high integrity criteria and standards, and conditions on origin, timing and use of such credits,” the draft said.

    Countries would also get more flexibility on choosing which sectors in their economy contribute most towards the 2040 goal, it said.

    Climate change has made Europe the world’s fastest warming continent and a heatwave this week has caused wildfires and disruption across the continent, but Europe’s ambitious policies to combat temperature rise have stoked tensions within the 27-member bloc.

    While the European Commission has pitched its climate agenda as a way to improve Europe’s competitiveness and security, some governments and lawmakers say industries reeling from U.S. tariffs and high energy costs cannot afford tougher emissions rules.

    “Decarbonisation is not only crucial for the planet, but also a key driver of economic growth when integrated with industrial, competition, and trade policies,” the draft said.

    A Commission spokesperson declined to comment on the draft, which could change before it is published.

    Carbon credits are generated by projects that reduce CO2 emissions abroad – for example, forest restoration in Brazil, and raise funds for such projects. However, investigations have shown some credits failed to deliver the environmental benefits they claimed.

    The EU’s climate science advisers have opposed counting them towards the 2040 target, and said spending money on foreign carbon credits would divert investments from local industries.

    EU countries and lawmakers must negotiate and approve the 2040 goal. That lawmaking process can take years, but the EU faces a deadline of mid-September to submit a new 2035 climate target to the U.N. – which the Commission has said should be derived from the 2040 goal.

    (Reuters)

  • MIL-OSI New Zealand: Economy – Appointments to Board of Reserve Bank of New Zealand

    Source: Reserve Bank of New Zealand

    1 July 2025 – The Reserve Bank of New Zealand – Te Pūtea Matua welcomes the appointment of Grant Spencer and the reappointment of Byron Pepper to its governing Board.

    Mr Spencer will serve for a five-year term, from 1 July 2025 to 30 June 2030. Mr Pepper will serve for a five-year term from 1 July 2025 to 30 June 2030.

    Mr Spencer and Mr Pepper were appointed by the Governor-General on the recommendation of the Minister of Finance following their participation in a public appointment process run by Te Tai Ōhanga – The Treasury.

    Grant Spencer brings extensive expertise in central banking, financial stability, and monetary policy. He held several senior roles at the Reserve Bank of New Zealand, including Deputy Governor, Head of Financial Stability (2007–2017), and Acting Governor (2017–2018). His international experience includes active participation in OECD and EMEAP forums, as well as contributions to the development of New Zealand’s capital markets.

    In addition to his professional experience, Mr Spencer is an Adjunct Professor at Victoria University of Wellington, with academic interests in financial regulation and macroeconomics. He holds advanced qualifications in economics and econometrics.

    “Mr Spencer’s appointment will enhance the Board’s expertise in prudential regulation, macro-prudential policy, and financial market operations, offering complementary strengths to existing board members, particularly in the context of New Zealand’s central banking landscape,” RBNZ Board Chair Professor Neil Quigley says.

    Byron Pepper continues to bring strong governance and financial expertise to the Board. An independent investment banking advisor and director, Mr Pepper has more than 25 years’ experience advising corporate and government clients, particularly in the financial services sector across New Zealand, Australia, and internationally.

    He is the former director of Ando Insurance Group Limited and currently serves as a director or trustee of several New Zealand-based entities. Mr Pepper is also the founder of Vorigo Advisory, following a 22-year career at Goldman Sachs in its global investment banking business.

    “We’re pleased to reappoint Mr Pepper to the Board,” says Professor Quigley. “His financial and governance experience continues to add valuable insight to the RBNZ’s decision-making.”

    The Reserve Bank welcomes the contributions of both Mr Spencer and Mr Pepper to its governing Board and looks forward to their support in delivering on Te Pūtea Matua’s strategic objectives.

    More information

    Our Board members – Reserve Bank of New Zealand – Te Pūtea Matua: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=886fb7c291&e=f3c68946f8

    MIL OSI New Zealand News

  • MIL-OSI Russia: Oil, Watercolor and Gallic: Participants of the Art in the Metro Project Talk Creativity and Inspiration

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The Moscow metro is not only a popular means of public transport, but also a cultural venue for talented Muscovites. The project has been underway in the capital for nine years now “Music in the Metro”, and recently another project for creative people – “Art in the Metro”— celebrated its first anniversary. It united more than 250 artists working in different genres and techniques, who can create paintings at 10 sites at metro stations, as well as take part in off-site events and even try their hand at creating a new design for the Troika card. The second season of the project is currently underway, and the recruitment of artists continues.

    A mos.ru correspondent spoke with the participants of the “Art in the Metro” project and found out how they are inspired by the architecture of the stations and passengers rushing about their business.

    Pandas on Michurinsky Prospekt

    Artist Yulia Ershova painted a passenger reading enthusiastically in a train car, sculptures of Romulus and Remus at the Rimskaya station, and flying seagulls on the ceiling of Mayakovskaya on the Zamoskvoretskaya Line. Another of her paintings depicts three pandas chewing bamboo at the Michurinsky Prospekt station on the Big Circle Line (BCL).

    “This is my favorite station. It is decorated in an oriental style: it has red columns and lamps with Chinese ornaments. I thought, what can you imagine in such an environment? Why not put pandas there, who came to

    Moscow Zoo from China? Now this painting can be seen at the exhibition “Red” in the gallery of the creative association “Artists of Chertanovo”, – says Yulia Ershova.

    She learned about “Art in the Metro” from her artist friends who got into the project during the first recruitment, successfully passed the in-person round and created about 30 works in a year. Yulia Ershova prefers to work in oil, but when she needs to make a quick sketch, she takes up watercolor.

    “The artist’s mission is to draw people’s attention to beauty that they may not notice in the rhythm of a big city. I remember a passenger on the Aminyevskaya BKL saw my work on an easel and at first could not understand where such beauty came from. And then she recognized the station ceiling. She often rides here, but did not notice how unusual it is, and now she looked up for the first time,” says Yulia Ershova.

    This season she continues to participate in the project. “The metro is interesting to draw, and I am glad that I have been given such a unique opportunity to create in this atmosphere,” the mos.ru interlocutor emphasizes.

    “Dostoevskaya” with salt and ink

    Another participant of the last season, Ekaterina Bulgakova, was inspired by the Dostoevskaya metro station of the Lyublinsko-Dmitrovskaya line. The artist was struck by its marble slabs. She managed to convey their texture using a special technique.

    “To depict a marble pattern, I first began to combine acrylic paints, watercolors and the author’s technique “gallitika”. It uses ink and salt, which gives beautiful textured streaks. Now I plan to further develop this method of drawing,” says Ekaterina Bulgakova.

    During her year of participation in the project, she created about 20 works. The artist was especially inspired by the BKL stations. In her paintings, she depicted the art object “Moscow Rings”, located at the entrance to “Nizhegorodskaya”, and the interiors of “Khoroshevskaya”.

    “I also dedicated one of my works to passengers. I depicted a stream of people hurrying at the Kitay-Gorod station, wrote down their possible thoughts, and added an old map of the area. It turned out to be a collage. It is impossible to imagine the metro without passengers. People often even came up to watch me draw and asked questions. Someone admitted that they were 20 years old and it was boring to study in their chosen specialty. And someone wanted to learn to draw at 60. I supported them and said that it is not too late to start at any age,” the interviewee notes.

    The artist did not initially plan to engage in creative work either. She received a higher education in economics, then completed an internship with teachers from the Russian State University of Art and Industry named after S.G. Stroganov, graduated from the School of Design of the National Research University Higher School of Economics and began to paint. This year, she is preparing to capture the capital’s metro on canvas again.

    “The metro is developing at a rapid pace, but the new stations are not inferior to the old ones in terms of design. They are incredible. I am grateful to the project organizers for the fact that we can draw here,” shares Ekaterina Bulgakova.

    “Art in the Metro”: the project’s artists worked in a tram depot for the first timeParticipants of the Art in the Metro project depicted stations of the Big Circle LineParticipants of the Art in the Metro project created works of art on digital tablets for the first time

    Walk through the tunnel and trains from different eras

    Project participant Ekaterina Gavrilova also considers the metro an invaluable source of ideas for paintings. The artist is fascinated by the architecture of the last century, so she is especially inspired by the very first stations and their design.

    “The main goal of the Art in the Metro project is to draw people’s attention to what surrounds them every day. For example, you can take a closer look at the doors of the Oktyabrskaya metro station. Every detail in their patterns is thought out, forming a single composition,” says Ekaterina Gavrilova.

    The interviewee of mos.ru has been drawing since childhood and was inspired by the works of Isaac Levitan, so she entered the Russian Academy of Painting, Sculpture and Architecture of Ilya Glazunov and successfully graduated from it. Ekaterina Gavrilova has been participating in the project since its inception. In the metro, she has created more than 20 works in a realistic style with elements of minimalism. Most of all, she liked to draw at the Komsomolskaya, Park Kultury and Taganskaya stations of the Circle Line, as well as at Kievskaya on the Arbatsko-Pokrovskaya line.

    “Thanks to the project, we didn’t just go down to the metro to draw, but went to interesting and unusual events. One night, we visited the tunnel of the Shelepikha station of the Big Circle Line (the Delovoy Tsentr – Shelepikha – Khoroshevskaya section of the Big Circle Line has been temporarily closed since June 22. – Note from mos.ru). We had a couple of hours after the contact rail was disconnected. Under the supervision of the shift supervisor, we walked through the tunnel. In addition, I attended an event at the Izmailovo depot. There, I created a painting called “Two Epochs”, where trains from the last century and our time stand side by side,” recalls artist Ekaterina Gavrilova.

    In her work, she uses not only oil, but also watercolour markers, tempera and gouache. She likes to experiment. For example, the artist depicted the Maryina Roshcha BKL station digitally – on a tablet, since she considers the space itself futuristic. And while working at Kievskaya, Ekaterina Gavrilova noticed two city women enthusiastically talking to each other. This scene formed the basis for the work “Morning News”.

    “The lobby of the Kyiv station is an atrium space framed by Corinthian capitals in a semicircle. The architects’ concept is a place for a temporary break from the road and meetings. The interior is pompous: columns, mosaics, gold. I think the space itself suggested the plot to me. The most wonderful thing in such walls is to engage in creativity. And passengers feel it. That is why the projects “Art in the Metro” and “Music in the Metro” have so many viewers,” the mos.ru interlocutor notes.

    Engage passengers in creativity

    Nikolay Bazunov also took part in the first season of the project. He found inspiration in metro trains.

    “I like the design of rolling stock from the 1940s to 1970s, which is attractive in its simplicity – smooth lines, round headlights. Thanks to my participation in the “Art in the Metro” project, I visited the Severnoye and Izmailovo depots, where I drew historical trains. I even managed to sit in the driver’s cabin of a retro train that runs on the Sokolnicheskaya line,” the artist says.

    Nikolay Bazunov associates the metro with the Great Patriotic War and memories of his relatives. During the bombing, his grandmother and mother hid at the Mayakovskaya station. The artist found a black-and-white photograph taken in 1941 and painted a picture for the anniversary of the Great Victory, where he depicted Muscovites hiding in the metro.

    “There is an interesting incident connected with this work. I was painting it at the Park Kultury station and stepped away for five minutes. I came back and there was a girl standing next to the painting and trying to make the image lighter with my brush. She explained that she found the work gloomy. And I smiled,” recalls Nikolai Bazunov.

    The artist prefers to work with oil on canvas. He compares his work to a musician’s performance. The palette is a turntable with discs, like a DJ’s, the brush is a conductor’s baton. While working, Nikolai Bazunov stands with his back to the passengers so that they can see his painting and express their opinion.

    “I have been participating in the Art in the Metro project since its inception, and have painted about 10 works. This season, I have joined it again not only as a participant, but also as a jury member. I help select artists. It is important to me that a person finds himself in the project, that he finds it interesting, that he can enjoy creativity and inspire others with his example,” emphasizes Nikolai Bazunov.

    This year he plans to paint a series of pictures based on a series of science fiction novels about the metro.

    The recruitment of artists for the second season of the project “Art in the Metro” is ongoing. To become a participant, you need to apply towebsite. The selection of finalists is carried out by an expert commission with the participation of representatives of the capital Department of Transport and Development of Road Transport Infrastructure and associations “Exhibition halls of Moscow”.

    Three new venues for the Art in the Metro project have appeared on the Big Circle LineParticipants of the Art in the Metro project created paintings at the Kitay-Gorod stationPortrait of Dostoevsky and a sketch of a stranger: what works were created by participants of the project “Art in the Metro”Artists of the Art in the Metro project will develop a New Year’s design for thematic Troika cards

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

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    MIL OSI Russia News

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

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

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

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

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

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

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

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

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

    Financial Literacy in Libraries

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

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

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

    Financial Literacy in Film

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

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

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

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

    Financial Literacy at Work

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

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

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

    Financial Literacy for Children and Youth

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

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

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

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

    Financial Literacy for the Older Generation

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

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

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

    Financial Literacy for People with Disabilities

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

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

    Financial literacy in new formats

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

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

    Economically active Muscovites have a high level of financial literacy

    Financial Literacy Online

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

    Budget literacy

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

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

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

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    MIL OSI Russia News

  • MIL-OSI Russia: First steps in a career: more than 70 thousand ninth-graders received career guidance this academic year

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Moscow helps schoolchildren better understand their interests, abilities, strengths and consciously choose a specialty to build a career. For this purpose, the center “Professions of the Future” a comprehensive career guidance program for ninth-graders is in operation. More than 70 thousand children have completed it this academic year.

    “The ninth grade is a very important stage in the life of every schoolchild, when he or she first independently determines their career path. At the Professions of the Future center, as part of the comprehensive career guidance program, teenagers can get a quality start for their development and a real idea of the situation on the labor market. Last academic year, the center welcomed more than 70 thousand schoolchildren, and the number of participants in the comprehensive career guidance program since its launch has exceeded 130 thousand. As Sergei Sobyanin noted in

    development strategies for the social protection system of Moscow until 2030, the capital will continue to scale up the comprehensive career guidance program. Every teenager will be able to make an informed choice of their future profession,” said Andrey Tarasov, director of the Moscow employment service and head of the Professions of the Future center.

    The first stage of the program introduces in-demand professions. Schoolchildren are immersed in the world of professions with the help of an interactive 5D cinema, which has no analogues in Russia, and a VR simulator, allowing them to try on the professions of a welder, turner, barista, baker, waiter, electric train driver and other professions.

    Then, ninth-graders undergo career guidance testing and receive individual consultations from representatives of Moscow colleges and career guidance specialists. Over the past academic year, schoolchildren’s interest in industrial specialties has grown by 1.5 times compared to the previous period, and in construction professions – by two times.

    Professional trials occupy a special place in the comprehensive career guidance program. Schoolchildren visit modern workshops and laboratories of 48 Moscow colleges, where they can try their hand at different areas. This academic year, ninth-graders have passed professional trials in colleges more than 57 thousand times. In addition, over 20 thousand children have visited excursions to more than 250 of the largest organizations and enterprises of the capital. Schoolchildren got acquainted with potential employers and production processes in various fields.

    In addition, the Professions of the Future center developed a special career guidance program for parents of teenagers. During the school year, experts held PROSubbota meetings every month, where they talked about promising professions and gave practical recommendations on choosing a career path. At such events, parents and children could communicate with representatives of colleges and leading employers in Moscow, ask questions and learn about the requirements of the modern labor market.

    The Moscow City Employment Service is the largest state personnel operator that helps residents of the capital find work. Its structure includes employment offices, many of which are located in the My Documents government service centers. The flagship centers are open at the following addresses: Kuusinen Street, Building 2, Building 1, and Shabolovka Street, Building 48. The specialized My Career employment center is located on Sergiya Radonezhskogo Street (Building 1, Building 1).

    At the Professions of the Future center (38 Shchepkina Street, Building 1), you can master one of 75 in-demand specialties in various sectors of the economy in a maximum of three and a half months. Career mentors will help you find a job after completing your training. The center’s partners include more than three thousand employers. In addition, a comprehensive career guidance program for ninth-grade students is being implemented here.

    The admissions campaign in Moscow colleges began on June 26. Applicants can apply online at mos.ru portal simultaneously for five specialties in one educational institution or distribute the choice between several colleges. Detailed information about the professions and specialties taught in the capital’s colleges is posted onwebsite, in the telegram channel“Colleges of Moscow” and the community of the same name on the social network “VKontakte”.

    The admissions campaign has begun at the Moscow Government UniversityGraduates will be able to choose a university and specialty with the help of “MES”Moscow Fashion Week experts give advice to future fashion university studentsMoscow State Pedagogical Univ. will host a summer festival for applicants, students and graduates

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

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    MIL OSI Russia News

  • MIL-OSI Asia-Pac: LCQ22: Development of “Zero Waste Bay Area”

    Source: Hong Kong Government special administrative region

    LCQ22: Development of “Zero Waste Bay Area” 
    Question:
     
         It is learnt that the Government is exploring with other Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to take forward the development of “Zero Waste Bay Area”, and that Guangdong and Hong Kong will tackle waste management issues through regional strategies and enhance regional recycling of recyclable materials in the GBA by leveraging each other’s competitive advantages and complementing strengths. In this connection, will the Government inform this Council:
     
    (1) of the specific work directions and strategies of the Special Panel for Building “Zero Waste Bay Area” established by the governments of Guangdong and Hong Kong in January this year, and the latest progress of its work;
     
    (2) given the opportunities arising from the “Zero Waste Bay Area”, how will the Government capitalise on Hong Kong’s advantage of connecting the country with the world to facilitate the development of green industries and a circular economy in the GBA, and whether it has assessed the difficulties and challenges that may arise in the process; if so, of the details; if not, the reasons for that; and
     
    (3) whether the HKSAR Government has started to explore the arrangements for the cross-boundary transportation of waste to other Mainland cities in the GBA, such as the mode of transport (i.e. sea or land) and daily handling capacity; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,

    (1) According to the “Guangdong-Hong Kong-Macao Greater Bay Area Ecological Environmental Protection Plan” promulgated by the Ministry of Ecology and Environment of the People’s Republic of China, the Hong Kong Special Administrative Region (HKSAR) Government continuously works with the Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to develop a “Zero Waste Bay Area” and explore regional co-operation models for achieving “Zero Waste City”. The Special Panel for Building “Zero Waste Bay Area” (the Special Panel) was established by Guangdong and Hong Kong at the Hong Kong-Guangdong Joint Working Group on Environmental Protection and Combating Climate Change meeting held in January this year, serving as a standing mechanism for advancing solid waste management and resources circulation co-operation between the two places, thereby strengthening policy co-ordination, technical exchanges and project collaboration, as well as elevating the capability in jointly handling solid waste.
     
         The first meeting of the Special Panel, held on March 27 this year, was co-chaired by the Environmental Protection Department of the HKSAR Government and the Department of Ecology and Environment of Guangdong Province. It mainly focused on exploring strategies leveraging on the complementary advantages of the region, to promote resources circulation of recyclable materials in the GBA and foster collaborative development of green industries and related facilities through deepening the collaboration by a joint “project-based” model. At present, the Special Panel has commenced initial discussions on topics such as regional co-operation in resources circulation and waste management policy, and is actively discussing how to promote the co-ordination of regulations and market integration between the two places.
     
    (2) and (3) The co-operation direction with the Mainland cities of the GBA is to promote resources circulation through the joint development of “Zero Waste City”, instead of transferring the municipal solid waste (MSW) to the Mainland cities of the GBA for treatment.
     
         Under the co-operation framework of the Special Panel, Hong Kong will fully capitalise on our distinctive advantage of having strong support of the Motherland and being closely connected to the world to further deepen the co-operation with other Mainland cities of the GBA in areas such as developing a “Zero Waste City” and promoting resources circulation. Hong Kong will introduce advanced recycling technologies and large-scale industrial expertise from the Mainland on one hand; and integrate its international market environment with its mature environmental management system to jointly explore the development pathway of a regional circular economy on the other. For example, the paper pulping facility and the retired electric vehicle (EV) battery recycling facility currently under construction in EcoPark, Tuen Mun, both incorporate mature Mainland technologies to process local waste paper and retired EV batteries. This not only strengthens Hong Kong’s role in the regional green industry chain, but also fosters collaborative development of green technologies and mutually beneficial co-operation in the environmental industry of the GBA.
     
         As for the local treatment of MSW in Hong Kong, the HKSAR Government is pressing ahead with the development of a network of advanced and highly efficient modern waste-to-energy facilities. The first modern incineration facility for treating MSW currently under construction near Shek Kwu Chau, I∙PARK1, will commence operation within this year. In addition, the HKSAR Government is pushing forward the development of I∙PARK2 at full steam. The open tender for the project was invited in last December and will close on July 18 this year. We will seek funding from the Legislative Council for the project in a timely manner.
    Issued at HKT 12:25

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Submissions: Appointments – Gebrüder Weiss bids farewell to Management Board member Peter Kloiber

    Source: Gebrüder Weiss

    Peter Kloiber is stepping down after nearly three decades on the Gebrüder Weiss Management Board. At the same time Peter Schafleitner, former Director of Product Management Land Transport, is joining the Management Board.

    Lauterach, July 1, 2025. Changing of the guard in the Gebrüder Weiss executive: Peter Kloiber (64) is retiring after 28 years on the Management Board. He held responsibility for Parcel Services, Logistics, IT, Human Resources and Organizational Development, Marketing and Communications, as well as the subsidiaries Xvise (logistics consulting) and dicall (call center services).

    Born in Vorarlberg / Austria, Peter Kloiber launched his career at Gebrüder Weiss in 1990 when he took up a post in corporate and human resources development. He recognized the key role of internal training and development programs for long-term success, and initiated their establishment. 

    The company’s transformation into a modern, networked logistics group is also due in a large part to his dedication.
    “Peter Kloiber is a pioneer of our value-oriented corporate culture, which continues to shape our self-image and strategic direction to this day. We owe him a great deal,” said Wolfram Senger-Weiss, CEO of Gebrüder Weiss, paying tribute to Kloiber’s total of 35 years of service to the company.

    Peter Schafleitner (56), an experienced logistics expert, is moving up to the company’s top management tier. Born in Salzburg, he joined the organization in 1989, holding various positions in sales and land transport and managing two locations in Austria. From 2017 onwards, he was Director and Regional Manager for the Central Region, which includes Salzburg, Carinthia, Upper Austria, and the Czech Republic. Since 2024, he has been Head of Product Management for Land Transport. Schafleitner’s appointment to the Management Board reflects the group’s primary focus on continuity and the benefits of long-term experience and internal networking.

    As part of this personnel change, Gebrüder Weiss is also reorganizing the board’s portfolios. From July 1, 2025, the responsibilities will be distributed as follows:

    • Wolfram Senger-Weiss (CEO) will oversee digitalization, finance, corporate governance, real estate, and the Black Sea/CIS region.
    • Jürgen Bauer will take charge of Land Transport Europe, Customs, Purchasing, Logistics, and the subsidiary Xvise (logistics consulting).
    • Lothar Thoma will head the Air and Sea Freight and Overseas divisions as well as Human Resources and Organizational Development.
    • Peter Schafleitner will take over Product Management Land Transport, Sales, Marketing and Communications, while also being responsible for the parcel service (GWP) and the dicall call center.

    Further information on the Gebrüder Weiss management team can be found here: https://www.gw-world.com/company/about-us/business

    About Gebrüder Weiss

    Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,600 employees at 180 company-owned locations. The company generated revenues of 2.71 billion euros in 2024. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

    MIL OSI – Submitted News

  • MIL-OSI Submissions: UN report highlights urgent financing solutions to achieve the SDGs in Asia and the Pacific

    Source: United Nations – ESCAP

    A new report from the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) offers over 40 innovative and actionable strategies for countries in the region to close the development financing gap. This comes as financial and geopolitical pressures across the region threaten to further derail progress on poverty reduction, climate action and economic recovery.

    Developing countries globally now face an annual shortfall of between US$2.5 trillion and US$4 trillion to meet the Sustainable Development Goals. Without major improvements in the way development is financed, many countries in the region risk falling further behind.

    The sixth edition of ESCAP’s Financing for Development report points to longstanding weaknesses in public finance and private investment systems. Many governments in the region continue to face difficulties in raising domestic revenues at the scale needed. Tax structures remain inefficient, and opportunities to tap into wealth and real estate are often underused. At the same time, capital markets are underdeveloped, and private financing rarely reaches high-impact sectors such as clean energy, healthcare or affordable housing.

    “Nowhere is this challenge – and opportunity – more urgent than in Asia and the Pacific,” underscored Armida Salsiah Alisjahbana, United Nations Under-Secretary-General and Executive Secretary of ESCAP. She added, “This is our chance to build a more resilient, equitable and sustainable economy for all. We aim to foster solutions that are regionally grounded, technically sound and financially viable. Unless Asia and the Pacific can lead boldly, the global transition will fall short of expectations.”

    Public debt distress has also become a growing concern. The report calls for more responsible borrowing, better transparency in how public funds are used, and stronger coordination among creditors to ensure fair and effective debt resolution.

    The report further recomm

    MIL OSI – Submitted News

  • MIL-OSI: BTCMiner, Cloud Mining Platform Revolutionises for Consistent, High Returns to Offer Millions Daily

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 01, 2025 (GLOBE NEWSWIRE) — Amid the volatile fluctuations of the cryptocurrency market, more and more investors are looking for stable, high-return platforms to grow their wealth. BTC Miner, an innovative cloud mining platform, has emerged as a game-changer by providing investors with the opportunity to earn millions daily without the need for expensive equipment, complicated setups, or market expertise. With guaranteed daily returns and a secure, hassle-free mining process, BTC Miner is helping people achieve their financial goals—even while they sleep.

    A New Era of Stable, Risk-Free Crypto Mining

    As traditional financial markets face ongoing uncertainty, cryptocurrency remains an attractive option for savvy investors. However, many have hesitated to enter the mining world due to the complexity and cost involved. BTC Miner removes these barriers by offering an easy-to-use, cloud-based mining solution that allows anyone to earn passive income without technical know-how.

    BTC Miner’s guaranteed principal + fixed return contracts ensure investors can earn stable returns, regardless of market fluctuations. For example:

    • Invest $200 and earn $10 per day, totaling $220 in just 2 days
    • Invest $2500 and earn $63 per day, totaling $2815 in 3 days
    • Invest $260,000 and earn $17238 per day, totaling $346,190 in 7 days

    The platform guarantees that your principal is safe and offers fixed daily returns, providing peace of mind in a volatile market.

    Zero-Risk Investment: Get Started with a $500 Welcome Bonus

    To help new users get started, BTC Miner offers a $500 welcome bonus. This bonus can be used to purchase a real mining contract, allowing users to start earning passive income immediately, without any initial investment. This is the perfect opportunity for both new and seasoned investors to test the platform and see real returns with zero risk.

    Referral Rewards: Build a Passive Income Network

    BTC Miner’s referral rewards program allows users to earn extra income by inviting others to join the platform. You’ll receive:

    • 7% referral reward from your direct referrals’ contract investments
    • 2% referral reward from your second-tier referrals’ contract investments

    There’s no limit on how much you can earn from referrals, and as more people join your network, your earnings grow exponentially. This social-driven incentive program is designed to help you build a wealth-generating network while earning from your referrals.

    Platform Advantages: Stability, Security, and High Returns

    • FCA Certified – Fully regulated, offering maximum transparency and security.
    • Guaranteed Returns – Fixed returns with principal protection, no exposure to market risk.
    • AI-Powered Cloud Mining – Smart resource management to optimize mining efficiency and returns.
    • Multi-Currency Support – BTC, ETH, XRP, DOGE, SOL, USDT (TRC20/ERC20), and more.
    • Green Energy Mining – Powered by renewable energy sources like solar and wind for sustainable operations.
    • 24/7 Customer Support – Multilingual support for users worldwide, ensuring prompt assistance.

    How to Get Started with BTC Miner

    1. Register for free at https://btcminer.net
    2. Claim your $500 bonus and choose a mining contract
    3. Start earning daily profits, with automatic payouts and the option to reinvest

    About BTC Miner

    Founded in 2009, BTC Miner is a leading digital asset mining platform that combines AI-powered mining, green energy, and regulatory compliance to provide secure, stable, and profitable cloud mining opportunities. The platform enables investors from around the world to earn passive income with minimal risk, offering fixed returns and guaranteed principal protection. As the cryptocurrency market evolves, BTC Miner remains at the forefront, helping users make stable, high returns in a safe and sustainable manner.

    Official Website: https://btcminer.net
    Email: info@btcminer.net

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