Category: Economy

  • MIL-OSI Africa: Comments sought on draft regulations to better protect marine ecosystems

    Source: South Africa News Agency

    The Minister of Forestry, Fisheries and the Environment, Dr Dion George, has signed a Government Notice to publish the second draft of regulations for the Environmental Management of Offshore Ship-to-Ship Transfers for public comment. 

    The regulations introduce a risk-based system to prevent and reduce the harm that offshore ship-to-ship transfers, including bunkering, can cause to marine and coastal ecosystems. 

    “Since bunkering began in Algoa Bay in 2016, four oil spills have affected 260 endangered African Penguins and other marine life. The new rules include strict requirements for environmental management plans, wildlife monitoring and spill response to prevent further harm.

    “Where impacts cannot be avoided, the regulations aim to minimise and remedy them. This is particularly important for areas such as Algoa Bay, home to the world’s largest breeding colonies of African Penguins,” the Department of Forestry, Fisheries and the Environment said on Friday.

    These draft regulations are another step towards protecting marine life.

    “The department is committed to ensuring that iconic species, such as the African Penguin, can thrive while supporting sustainable use of ocean resources.

    “The regulations, issued under section 83(1) of the National Environmental Management: Integrated Coastal Management Act (Act No. 24 of 2008), follow the first draft published on 21 February 2025. 

    “They are the product of wide consultation with key partners, including the South African Maritime Safety Authority (SAMSA), Transnet National Ports Authority, the Department of Transport, the South African National Parks and environmental MECs from the four coastal provinces,” the department said.

    The department has urged all stakeholders to take part in this important process to help finalise regulations that both protect our environment and support a resilient ocean economy. 

    “Together, we can help secure a future for the African Penguin. The department invites written comments within 30 days of publication in the Government Gazette or a national newspaper, whichever is later.”

    The draft regulations and supporting documents are available at www.dffe.gov.za/legislation/gazetted_notices or by email on request.

    Comments can be submitted as advised below:

    • Submit by hand: Deputy Director-General: Oceans and Coasts Department of Forestry, Fisheries and the Environment Attention: Lona Nondaka 2nd Floor, East Pier Building 2 East Pier Road, V&A Waterfront, Cape Town
    • By post: Deputy Director-General: Oceans and Coasts Attention: Lona Nondaka PO Box 52126, V&A Waterfront, Cape Town, 8002
    • By email: bunkeringregs@dffe.gov.za
    • For enquiries, contact Lona Nondaka at 021 493 7061 or LNondaka@dffe.gov.za.

    SAnews.gov.za

    MIL OSI Africa

  • MIL-OSI: Hyperscale Data Subsidiary askROI Surpasses 300,000 App Downloads on Apple App Store and Google Play

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, June 30, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned indirect subsidiary askROI, Inc. (“askROI”), has surpassed 300,000 cumulative app downloads between the Apple App Store and Google Play.

    askROI recently announced the launch of its app in both the Apple App Store and Google Play, offering users access to advanced artificial intelligence (“AI”) tools for both personal and business applications. Despite minimal marketing efforts to date, askROI’s organic traction continues to grow as askROI continues to improve platform functionality.

    “The askROI platform has seen significant growth since our last update announcing that we had surpassed 160,000 downloads,” stated Milton “Todd” Ault III, Founder and Executive Chairman of Hyperscale Data. “We are extremely pleased with the growth and are excited to announce new platform upgrades in the coming weeks.”

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data expects to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support HPC services, though it may at that time continue to operate in the digital asset space as described in the Company’s filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network

  • MIL-OSI: Hyperscale Data Subsidiary askROI Surpasses 300,000 App Downloads on Apple App Store and Google Play

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, June 30, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned indirect subsidiary askROI, Inc. (“askROI”), has surpassed 300,000 cumulative app downloads between the Apple App Store and Google Play.

    askROI recently announced the launch of its app in both the Apple App Store and Google Play, offering users access to advanced artificial intelligence (“AI”) tools for both personal and business applications. Despite minimal marketing efforts to date, askROI’s organic traction continues to grow as askROI continues to improve platform functionality.

    “The askROI platform has seen significant growth since our last update announcing that we had surpassed 160,000 downloads,” stated Milton “Todd” Ault III, Founder and Executive Chairman of Hyperscale Data. “We are extremely pleased with the growth and are excited to announce new platform upgrades in the coming weeks.”

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data expects to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support HPC services, though it may at that time continue to operate in the digital asset space as described in the Company’s filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network

  • MIL-OSI: Historic Dual Market Exchange Celebration: NIRI to Ring the Closing Bells at NYSE and Nasdaq

    Source: GlobeNewswire (MIL-OSI)

         –  Closing Bell Ceremonies live at 4:00 p.m. ET on Monday, June 30, 2025

    PHILADELPHIA, June 30, 2025 (GLOBE NEWSWIRE) — The Philadelphia Chapter of NIRI: The Association for Investor Relations is pleased to announce that today, NIRI will make history by ringing the closing bell at both the New York Stock Exchange and Nasdaq. This simultaneous celebration recognizes the investor relations profession and its strategic value for the capital markets.

    The dual bell ceremonies, taking place at 4:00 p.m. ET, are co-hosted by NIRI and the NIRI Philadelphia Chapter. Representatives from NIRI and its multiple chapters across the country will participate in this iconic event, with approximately 100 investor relations professionals gathering in New York City for this milestone moment.

    At the New York Stock Exchange, Nahla A. Azmy, President of NIRI Philadelphia, and Matthew D. Brusch, President and CEO of NIRI, will share bell-ringing honors on behalf of the NIRI organization.

    At Nasdaq MarketSite in Times Square, Lisa M. Caperelli, NIRI Board Director and Vice President of Sponsorships for the NIRI Philadelphia Chapter, will represent NIRI for the closing bell ceremony.

    Tune in to watch the Closing Bell Ceremonies live at 4:00 p.m. ET:

    NYSE: https://www.nyse.com/bell

    Nasdaq: https://www.nasdaq.com/marketsite/bell-ringing-ceremony

    About the NIRI Philadelphia Chapter
    NIRI Philadelphia, formed in 1971, is a professional association of investor relations officers, communicators, consultants and providers serving organizations in the Greater Philadelphia area. NIRI Philadelphia includes members from a variety of industries and market cap sizes who are responsible for communications between their organizations, the investing public, and the financial community. NIRI Philadelphia’s goal is to provide its members the resources needed to be strategic leaders in their organizations.

    About NIRI: The Association for Investor Relations 
    Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts, and other financial community constituents. NIRI is the largest professional investor relations association in the world with members representing over 1,500 publicly held companies and $12 trillion in stock market capitalization.

    The MIL Network

  • MIL-OSI: Historic Dual Market Exchange Celebration: NIRI to Ring the Closing Bells at NYSE and Nasdaq

    Source: GlobeNewswire (MIL-OSI)

         –  Closing Bell Ceremonies live at 4:00 p.m. ET on Monday, June 30, 2025

    PHILADELPHIA, June 30, 2025 (GLOBE NEWSWIRE) — The Philadelphia Chapter of NIRI: The Association for Investor Relations is pleased to announce that today, NIRI will make history by ringing the closing bell at both the New York Stock Exchange and Nasdaq. This simultaneous celebration recognizes the investor relations profession and its strategic value for the capital markets.

    The dual bell ceremonies, taking place at 4:00 p.m. ET, are co-hosted by NIRI and the NIRI Philadelphia Chapter. Representatives from NIRI and its multiple chapters across the country will participate in this iconic event, with approximately 100 investor relations professionals gathering in New York City for this milestone moment.

    At the New York Stock Exchange, Nahla A. Azmy, President of NIRI Philadelphia, and Matthew D. Brusch, President and CEO of NIRI, will share bell-ringing honors on behalf of the NIRI organization.

    At Nasdaq MarketSite in Times Square, Lisa M. Caperelli, NIRI Board Director and Vice President of Sponsorships for the NIRI Philadelphia Chapter, will represent NIRI for the closing bell ceremony.

    Tune in to watch the Closing Bell Ceremonies live at 4:00 p.m. ET:

    NYSE: https://www.nyse.com/bell

    Nasdaq: https://www.nasdaq.com/marketsite/bell-ringing-ceremony

    About the NIRI Philadelphia Chapter
    NIRI Philadelphia, formed in 1971, is a professional association of investor relations officers, communicators, consultants and providers serving organizations in the Greater Philadelphia area. NIRI Philadelphia includes members from a variety of industries and market cap sizes who are responsible for communications between their organizations, the investing public, and the financial community. NIRI Philadelphia’s goal is to provide its members the resources needed to be strategic leaders in their organizations.

    About NIRI: The Association for Investor Relations 
    Founded in 1969, NIRI is the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts, and other financial community constituents. NIRI is the largest professional investor relations association in the world with members representing over 1,500 publicly held companies and $12 trillion in stock market capitalization.

    The MIL Network

  • MIL-OSI: Global Net Lease Credit Ratings Upgraded By S&P Global

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) — Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today that S&P Global has upgraded its corporate credit rating to BB+ from BB following the successful $1.8 billion sale of GNL’s multi-tenant portfolio, which enabled a substantial paydown of GNL’s debt. S&P also raised its issue-level rating on GNL’s unsecured notes to an investment-grade BBB- from BB+.

    As a result of the multi-tenant portfolio sale, GNL’s streamlined portfolio of diversified, long-term triple-net leases features a broad tenant base, minimal near-term lease expirations, high occupancy, and strengthened operating metrics.

    “We believe S&P’s upgrade of our credit ratings further validates the decisive actions we’ve taken to strengthen GNL’s balance sheet and portfolio,” said Michael Weil, CEO of GNL. “Our disciplined execution of a capital strategy designed to improve our credit profile and enhance shareholder value has created tangible results that we intend to build upon in the second half of 2025 and beyond. We are committed to further strengthening GNL’s financial position though continued leverage reduction and lowering our cost of capital.”

    About Global Net Lease, Inc.

    Global Net Lease, Inc. (NYSE: GNL) is a publicly traded internally managed real estate investment trust that focuses on acquiring and managing a global portfolio of income producing net lease assets across the U.S., and Western and Northern Europe. Additional information about GNL can be found on its website at www.globalnetlease.com. 

    Important Notice

    The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,”  “will,”  “seeks,”  “anticipates,”  “believes,”  “expects,”  “estimates,”  “projects,”  “potential,”  “predicts,”  “plans,”  “intends,”  “would,”  “could,”  “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks that any potential future acquisition or disposition by the Company is subject to market conditions, capital availability and timing considerations and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in the Company’s forward-looking statements are set forth in the “Risk Factors” and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

    Contacts:
    Investor Relations
    Email: investorrelations@globalnetlease.com
    Phone: (332) 265-2020

    The MIL Network

  • MIL-OSI: Bitcoin Solaris Presale Gains Strong Momentum Ahead of Upcoming Launch

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, June 30, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris (BTC-S) has announced a major milestone in its ongoing token presale, officially surpassing $5.8 million in early commitments from over 12,800 participants worldwide. With less than five weeks remaining before launch, interest in the dual-layer blockchain has accelerated, positioning BTC-S as one of the year’s most closely watched crypto presales.

    Designed to address long-standing limitations in scalability, speed, and accessibility, Bitcoin Solaris combines a Proof-of-Work base layer with a Delegated Proof-of-Stake (DPoS) execution layer, enabling over 10,000 transactions per second (TPS), sub-2-second finality, and dramatically lower energy consumption. According to the project team, Bitcoin Solaris operates with 99.95% less energy usage than traditional mining-based blockchains.

    Why Everyone Is Now Talking About BTC-S

    From influencer videos to Telegram channels, the buzz around Bitcoin Solaris is not just hype. It is driven by fundamentals and real innovation. Even major voices in the space are weighing in.

    A detailed review by Crypto Vlog breaks down why this project stands out from the sea of recycled layer-1s and copycat tokens. From smart contract flexibility to cross-chain compatibility, BTC-S is getting attention for being bold and original.

    Early Bitcoin Changed Lives, BTC-S Is the Second Chance

    Presale Momentum: Fastest Rise in the Market?

    Investors are rushing in. And for good reason. The Bitcoin Solaris presale is being called one of the shortest and most explosive in crypto history.

    • Over $5.8 million raised so far
    • More than 12,800 users onboarded
    • Less than 5 weeks left before launch
    • Presale in Phase 10 at $10 per token
    • Launch price confirmed at $20, with a 6% bonus for new buyers

    That means a 150 percent return is practically baked in for early investors. For receiving your BTC-S tokens securely on launch day, Trust Wallet and Metamask are the preferred options.

    And this isn’t just FOMO. BTC-S has passed major due diligence. It’s already audited by Cyberscope and Freshcoins. Community discussions are alive on Telegram and X, where crypto veterans and curious newcomers alike are lining up for early access.

    A Future Built on Speed, Security, and Smart Contracts

    Bitcoin Solaris was engineered to solve what Bitcoin cannot. High fees, slow confirmation times, and limited programmability are outdated in the Web3 world. BTC-S fixes that with:

    • 10,000+ TPS performance using dual consensus
    • Validator rotation every few seconds for better security
    • Rust-based smart contracts that support full DeFi functionality
    • Fast 2-second finality, making it viable for real-time payments
    • 99.95 percent energy reduction, opening the door to ESG-compliant investments

    And all of this will soon be in the palm of your hand. Mining BTC-S will be possible through the upcoming Solaris Nova app, which turns your phone into a revenue stream. Curious about earnings? Use the profit calculator to see daily estimates based on your phone type.

    What’s Next: Roadmap Highlights

    While the presale hype is real, Bitcoin Solaris is building for the long game. According to the public roadmap, the next milestones include:

    • Full mainnet launch in Q3 2026
    • Solaris Nova app release with AI optimizations
    • Developer toolkit rollout and cross-chain DApp support
    • Enterprise adoption through Fortune 500 partnerships
    • Future-ready infrastructure, including quantum-resistant security

    This isn’t a roadmap filled with vague promises. Every phase is tied to deliverables, integrations, and real-world applications. BTC-S is setting up a full ecosystem that doesn’t just aim for the moon; it builds the launchpad first.

    Conclusion: One of the Smartest Bets of the Year?

    Let’s be clear. Bitcoin Solaris is not just another altcoin. It’s a second chance at generational wealth, powered by scalable tech, early incentives, and unmatched mobile mining accessibility. As BTC-S gears up for launch, the only question left is who acted early enough to catch the 150 percent wave before it’s gone.

    For More Information:
    Websitehttps://www.bitcoinsolaris.com
    Telegramhttps://t.me/Bitcoinsolaris
    X (Twitter)https://x.com/BitcoinSolaris

    Media Contact:
    Xander Levine
    press@bitcoinsolaris.com
    Press Kit: Available upon request

    Disclaimer: This content is provided by Bitcoin Solaris. 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.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/c3eb2552-a314-4ad2-a0b7-328e8ea1ceeb

    https://www.globenewswire.com/NewsRoom/AttachmentNg/37be60b9-cb2b-4f66-8bd2-34dbeba9679a

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a03cde94-4e1f-4a16-8a6a-00339d049d98

    https://www.globenewswire.com/NewsRoom/AttachmentNg/271c05a4-779d-407f-ba31-c19da9482bf5

    The MIL Network

  • MIL-OSI Economics: Sectoral Deployment of Bank Credit – May 2025

    Source: Reserve Bank of India

    Data on sectoral deployment of bank credit for the month1 of May 2025 collected from 41 select scheduled commercial banks (SCBs), accounting for about 95 per cent of the total non-food credit by all SCBs, are set out in Statements I and II.

    On a year-on-year (y-o-y) basis, non-food bank credit2 as on the fortnight ended May 30, 2025, grew3 by 9.8 per cent as compared to 16.2 per cent during the corresponding fortnight of the previous year (i.e., May 31, 2024).

    Highlights of the sectoral deployment of bank credit3 as on the fortnight ended May 30, 2025 are given below:

    • Credit to agriculture and allied activities registered a y-o-y growth of 7.5 per cent (21.6 per cent in the corresponding fortnight of the previous year).

    • Credit to industry recorded a y-o-y growth of 4.9 per cent, compared with 8.9 per cent in the corresponding fortnight of the previous year. Among major industries, outstanding credit to ‘all engineering’, ‘construction’ and ‘rubber, plastic and their products’ recorded an accelerated y-o-y growth.

    • Credit to services sector moderated to 9.4 per cent y-o-y (20.7 per cent in the corresponding fortnight of the previous year), primarily due to decelerated growth in credit to ‘non-banking financial companies’ (NBFCs). Credit growth to ‘computer software’ segment remained robust.

    • Credit to personal loans segment registered a decelerated y-o-y growth of 13.7 per cent, as compared with 19.3 per cent a year ago, largely due to moderation in growth of ‘other personal loans’, ‘vehicle loans’ and ‘credit card outstanding’.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/623


    MIL OSI Economics

  • MIL-OSI Economics: Monetary developments in the euro area: May 2025

    Source: European Central Bank

    30 June 2025

    Components of the broad monetary aggregate M3

    The annual growth rate of the broad monetary aggregate M3 stood at 3.9% in May 2025, unchanged from the previous month, averaging 3.8% in the three months up to May. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate M1, which comprises currency in circulation and overnight deposits, increased to 5.1% in May from 4.7% in April. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) decreased to -0.1% in May from 0.6% in April. The annual growth rate of marketable instruments (M3-M2) increased to 11.2% in May from 10.7% in April.

    Chart 1

    Monetary aggregates

    (annual growth rates)

    Data for monetary aggregates

    Looking at the components’ contributions to the annual growth rate of M3, the narrower aggregate M1 contributed 3.2 percentage points (up from 3.0 percentage points in April), short-term deposits other than overnight deposits (M2-M1) contributed 0.0 percentage points (down from 0.2 percentage points) and marketable instruments (M3-M2) contributed 0.7 percentage points (as in the previous month).

    Among the holding sectors of deposits in M3, the annual growth rate of deposits placed by households stood at 3.5% in May, compared with 3.4% in April, while the annual growth rate of deposits placed by non-financial corporations stood at 2.7% in May, compared with 2.6% in April. Finally, the annual growth rate of deposits placed by investment funds other than money market funds decreased to 15.4% in May from 21.2% in April.

    Counterparts of the broad monetary aggregate M3

    The annual growth rate of M3 in May 2025, as a reflection of changes in the items on the monetary financial institution (MFI) consolidated balance sheet other than M3 (counterparts of M3), can be broken down as follows: net external assets contributed 2.6 percentage points (up from 2.5 percentage points in April), claims on the private sector contributed 2.4 percentage points (up from 2.3 percentage points), claims on general government contributed 0.2 percentage points (as in the previous month), longer-term liabilities contributed -1.2 percentage points (down from -1.1 percentage points), and the remaining counterparts of M3 contributed -0.1 percentage points (as in the previous month).

    Chart 2

    Contribution of the M3 counterparts to the annual growth rate of M3

    (percentage points)

    Data for contribution of the M3 counterparts to the annual growth rate of M3

    Claims on euro area residents

    The annual growth rate of total claims on euro area residents stood at 2.0% in May 2025, compared with 1.9% in the previous month. The annual growth rate of claims on general government stood at 0.6% in May, compared with 0.5% in April, while the annual growth rate of claims on the private sector stood at 2.5% in May, compared with 2.4% in April.

    The annual growth rate of adjusted loans to the private sector (i.e. adjusted for loan transfers and notional cash pooling) stood at 2.8% in May, unchanged from the previous month. Among the borrowing sectors, the annual growth rate of adjusted loans to households stood at 2.0% in May, compared with 1.9% in April, while the annual growth rate of adjusted loans to non-financial corporations stood at 2.5% in May, compared with 2.6% in April.

    Chart 3

    Adjusted loans to the private sector

    (annual growth rates)

    Data for adjusted loans to the private sector

    Notes:

    • Data in this press release are adjusted for seasonal and end-of-month calendar effects, unless stated otherwise.
    • “Private sector” refers to euro area non-MFIs excluding general government.
    • Hyperlinks lead to data that may change with subsequent releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.

    MIL OSI Economics

  • MIL-OSI Economics: ECB’s Governing Council updates its monetary policy strategy

    Source: European Central Bank

    30 June 2025

    • Governing Council confirms symmetric 2% inflation target over the medium term
    • Symmetry requires appropriately forceful or persistent policy response to large, sustained deviations of inflation from target in either direction
    • All tools remain in toolkit and their choice, design and implementation will enable an agile response to new shocks
    • Structural shifts such as geopolitical and economic fragmentation and increasing use of artificial intelligence make the inflation environment more uncertain

    The Governing Council of the European Central Bank (ECB) today published the results of its strategy assessment, which are set out in an updated monetary policy strategy statement.

    Following the strategy review carried out in 2020-21, the Governing Council announced that it would periodically assess the appropriateness of its monetary policy strategy. The assessment published today meets this commitment, ensuring that our framework, toolkit and approach remain fit for purpose.

    The monetary policy strategy enables the Governing Council to respond effectively to major changes in the inflation environment. This is especially important as ongoing structural shifts, such as geopolitical and economic fragmentation, increasing use of artificial intelligence, demographic change and the threat to environmental sustainability, suggest that the inflation environment will remain uncertain and potentially more volatile, with larger deviations from the symmetric 2% inflation target.

    To maintain the symmetry of the target, appropriately forceful or persistent monetary policy action in response to large, sustained deviations of inflation from the target in either direction is important. This will help to avoid inflation expectations becoming de-anchored and inflation deviations from the target becoming entrenched.

    “I am happy to announce that the Governing Council during its latest meeting approved the ECB’s updated monetary policy strategy”, said ECB President Christine Lagarde. “This assessment was a valuable opportunity to challenge our thinking, check our policy toolkit and fine-tune our strategy. It provides us with an even stronger basis to conduct monetary policy and fulfil our mandate of price stability in an increasingly uncertain environment.”

    All monetary policy tools currently available to the Governing Council will remain in its toolkit. Their use at any time will continue to be subject to a comprehensive proportionality assessment. Their choice, design and implementation will be sufficiently flexible to enable an agile response to changes in the inflation environment.

    In monetary policy decisions the Governing Council takes into account not only the most likely path for inflation and the economy but also surrounding risks and uncertainty, including through the appropriate use of scenarios and sensitivity analyses.

    The first regular monetary policy meeting of the Governing Council applying the updated strategy will be held on 23-24 July 2025. The Governing Council intends to assess periodically the appropriateness of its monetary policy strategy, with the next assessment expected in 2030.

    For media queries, please contact Stefan Ruhkamp, tel.: +49 69 1344 5057.

    Notes

    • Prior to the 2025 strategy assessment, the Governing Council concluded strategy reviews in 2003 and 2021.
    • Over the last 12 months the Governing Council has held seminars, presentations, discussions and meetings dedicated to the strategy assessment.
    • The strategy assessment is the result of a significant collaborative effort over this period. It involved staff of the ECB and national central banks across the euro area and was organised into two separate workstreams.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Convicted supplier of fake tobacco in Portsmouth has been ordered to pay

    Source: City of Portsmouth

    Two members of staff from Fratton Food Store in Portsmouth have been convicted for their roles in supplying counterfeit and smuggled tobacco products.

     

    Following the previous sentencing, Portsmouth City Council Trading Standards carried out a financial investigation into the two store owners, Mr. Salar Karim Karam and Mr. Ali Kader Ismi to find out how much financial gain had been made from the illegal activities, leading to final conviction.

    On Wednesday 11 June 2025, at Portsmouth Crown Court, Mr Salar Karim Karam was handed a Proceeds of Crime Act ‘Confiscation Order’ totalling £27,260.20 for contributing to the supply of over 45,000 counterfeit cigarettes from Fratton Food Store in Portsmouth. Karam has 3 months to pay this order or face 12 months in prison. Portsmouth City Council’s Trading Standards service brought this action and were subsequently awarded £5,248.28 in costs. The financial enquiries into Mr Ali Kader Ismil are ongoing.

    Cllr Lee Hunt, Portsmouth City Council Cabinet Member for Community Safety, Leisure, and Sport, said:

    “Portsmouth City Council will use the full weight of the law to pursue criminal trading. We have a highly motivated and skilled Trading Standards team constantly investigating premises and individuals who break the law; we will catch them just as we have been able to bring these individuals to justice.  Those selling counterfeit items and tobacco products will be caught and risk severe penalties.”

    The Council’s trading standards team helps to protect residents from unscrupulous traders and ensure that businesses comply with the law. The team works with trained tobacco detection dogs to sniff out illegal tobacco at premises across the city, often based on information provided by members of the public or other businesses.

    If you know or suspect businesses in Portsmouth are supplying illicit tobacco, you can report it at trading.standards@portsmouthcc.gov.uk. For more information search ‘trading standards’ at portsmouth.gov.uk

    The Council’s wellbeing service provides free support to help Portsmouth residents to stop smoking. Visit www.wellbeingportsmouth.co.uk or call 023 9229 4001 to find out more.

    MIL OSI United Kingdom

  • MIL-OSI Video: Invest in the Future: Conference on Financing for Development FFD4 – UN Chief | United Nations

    Source: United Nations (video statements)

    Opening remarks by António Guterres, Secretary-General of the United Nations, at the Opening of the 4th International Conference on Financing for Development FFD4 (Sevilla, Spain).

    “Your Majesties,
    Excellencies, ladies and gentlemen,

    I thank the Government and people of Spain for welcoming us to Sevilla for this important conference.

    For decades, the mission of sustainable development has united countries large and small, developed and developing.

    Together, we achieved progress.

    Reducing global poverty and hunger.

    Saving lives with stronger health care systems.

    Getting more children into school.

    Expanding opportunities for women and girls.

    And strengthening social safety nets.

    But today, development and its great enabler — international cooperation — are facing massive headwinds.

    We are living in a world where trust is fraying and multilateralism is strained.

    A world with a slowing economy, rising trade tensions, and decimated aid budgets.

    A world shaken by inequalities, climate chaos and raging conflicts.

    The link between peace and development is clear.

    Nine of the ten countries with the lowest Human Development Indicators are currently in a state of conflict.

    Excellencies,

    Financing is the engine of development.

    And right now, this engine is sputtering.

    As we meet, the 2030 Agenda for Sustainable Development — our global promise to transform our world for a better, fairer future — is in danger.

    Two-thirds of the Sustainable Development Goals targets are lagging.

    Achieving them requires an investment of more than $4 trillion a year.

    But this is not just a crisis of numbers.

    It’s a crisis of people.

    Of families going hungry.

    Of children going unvaccinated.

    Of girls forced to drop out of school.

    We are here in Sevilla to change course.

    To repair and rev up the engine of development to accelerate investment at the scale and speed required.

    And to restore a measure of fairness and justice for all.

    Excellencies,

    The Sevilla Commitment document is a global promise to fix how the world supports countries as they climb the development ladder.

    I see three areas of action.

    First — we must get resources flowing. Fast.

    Countries must lead by mobilizing domestic resources and investing in areas of greatest impact: schools, health care, social protection, decent work, and renewable energy.

    Unlocking these investments requires strengthening tax systems, and tackling illicit financial flows and tax evasion.

    And helping developing countries dedicate a greater share of their tax revenues to the systems people need.

    The Sevilla Commitment’s call on developed countries to double their aid dedicated to domestic resource mobilization can support this.

    Multilateral and national development banks must unite to finance major investments.

    This includes tripling the lending capacity of Multilateral Development Banks — and rechanneling Special Drawing Rights that can unlock lending capacity and help developing countries boost investment.

    We also need innovative financing solutions to unlock private capital.

    Solutions that mitigate currency risks;

    That combine public and private finance more effectively, and ensure the risks and rewards of development projects are shared by both the public and private sectors;

    And that ensure financial regulations assess risk appropriately and support investments in frontier markets.

    Second — we must fix the global debt system which is unsustainable, unfair and unaffordable.

    With annual debt service at $1.4 trillion, countries need — and deserve — a system that lowers borrowing costs, enables fair and timely debt-restructuring, and prevents debt crises in the first place.

    The Sevilla Commitment lays the groundwork:

    By creating a single debt registry for transparency, and promoting responsible lending and borrowing;

    By lowering the cost of capital through debt swaps and debt management support;

    And through debt service pauses in times of emergency.

    And third — we must increase the participation of developing countries in the institutions of the global financial architecture. The present major shareholders have a role to play recognizing the importance of correcting injustices and adapting to a changing world.

    A new borrowers forum will give voice to borrowers for fairer debt resolution and can foster transparency, shared learning and coordinated debt action.

    And we need a fairer global tax system shaped by all, not just a few.

    Excellencies, ladies and gentlemen,

    This conference is not about charity.

    It’s about restoring justice and lives of dignity.

    This conference is not about money.

    It’s about investing in the future we want to build, together.

    Thank you all for being part of this important and ambitious effort”.

    https://www.youtube.com/watch?v=2jX8dA1w0L4

    MIL OSI Video

  • MIL-OSI Video: Invest in the Future: Conference on Financing for Development FFD4 – UN Chief | United Nations

    Source: United Nations (video statements)

    Opening remarks by António Guterres, Secretary-General of the United Nations, at the Opening of the 4th International Conference on Financing for Development FFD4 (Sevilla, Spain).

    “Your Majesties,
    Excellencies, ladies and gentlemen,

    I thank the Government and people of Spain for welcoming us to Sevilla for this important conference.

    For decades, the mission of sustainable development has united countries large and small, developed and developing.

    Together, we achieved progress.

    Reducing global poverty and hunger.

    Saving lives with stronger health care systems.

    Getting more children into school.

    Expanding opportunities for women and girls.

    And strengthening social safety nets.

    But today, development and its great enabler — international cooperation — are facing massive headwinds.

    We are living in a world where trust is fraying and multilateralism is strained.

    A world with a slowing economy, rising trade tensions, and decimated aid budgets.

    A world shaken by inequalities, climate chaos and raging conflicts.

    The link between peace and development is clear.

    Nine of the ten countries with the lowest Human Development Indicators are currently in a state of conflict.

    Excellencies,

    Financing is the engine of development.

    And right now, this engine is sputtering.

    As we meet, the 2030 Agenda for Sustainable Development — our global promise to transform our world for a better, fairer future — is in danger.

    Two-thirds of the Sustainable Development Goals targets are lagging.

    Achieving them requires an investment of more than $4 trillion a year.

    But this is not just a crisis of numbers.

    It’s a crisis of people.

    Of families going hungry.

    Of children going unvaccinated.

    Of girls forced to drop out of school.

    We are here in Sevilla to change course.

    To repair and rev up the engine of development to accelerate investment at the scale and speed required.

    And to restore a measure of fairness and justice for all.

    Excellencies,

    The Sevilla Commitment document is a global promise to fix how the world supports countries as they climb the development ladder.

    I see three areas of action.

    First — we must get resources flowing. Fast.

    Countries must lead by mobilizing domestic resources and investing in areas of greatest impact: schools, health care, social protection, decent work, and renewable energy.

    Unlocking these investments requires strengthening tax systems, and tackling illicit financial flows and tax evasion.

    And helping developing countries dedicate a greater share of their tax revenues to the systems people need.

    The Sevilla Commitment’s call on developed countries to double their aid dedicated to domestic resource mobilization can support this.

    Multilateral and national development banks must unite to finance major investments.

    This includes tripling the lending capacity of Multilateral Development Banks — and rechanneling Special Drawing Rights that can unlock lending capacity and help developing countries boost investment.

    We also need innovative financing solutions to unlock private capital.

    Solutions that mitigate currency risks;

    That combine public and private finance more effectively, and ensure the risks and rewards of development projects are shared by both the public and private sectors;

    And that ensure financial regulations assess risk appropriately and support investments in frontier markets.

    Second — we must fix the global debt system which is unsustainable, unfair and unaffordable.

    With annual debt service at $1.4 trillion, countries need — and deserve — a system that lowers borrowing costs, enables fair and timely debt-restructuring, and prevents debt crises in the first place.

    The Sevilla Commitment lays the groundwork:

    By creating a single debt registry for transparency, and promoting responsible lending and borrowing;

    By lowering the cost of capital through debt swaps and debt management support;

    And through debt service pauses in times of emergency.

    And third — we must increase the participation of developing countries in the institutions of the global financial architecture. The present major shareholders have a role to play recognizing the importance of correcting injustices and adapting to a changing world.

    A new borrowers forum will give voice to borrowers for fairer debt resolution and can foster transparency, shared learning and coordinated debt action.

    And we need a fairer global tax system shaped by all, not just a few.

    Excellencies, ladies and gentlemen,

    This conference is not about charity.

    It’s about restoring justice and lives of dignity.

    This conference is not about money.

    It’s about investing in the future we want to build, together.

    Thank you all for being part of this important and ambitious effort”.

    https://www.youtube.com/watch?v=2jX8dA1w0L4

    MIL OSI Video

  • MIL-OSI Asia-Pac: President Lai meets Minister of State at UK Department for Business and Trade Douglas Alexander  

    Source: Republic of China Taiwan

    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
    2025-06-05
    President Lai hosts state banquet for President Bernardo Arévalo of Republic of Guatemala  
    At noon on June 5, President Lai Ching-te hosted a state banquet at the Presidential Office for President Bernardo Arévalo of the Republic of Guatemala and his wife. In his remarks, President Lai noted that Taiwan and Guatemala have both undergone an arduous democratization process, and therefore, in face of the continuous expansion of authoritarian influence, must join hands in brotherhood and come together in solidarity to safeguard our hard-earned freedom and democracy. President Lai also expressed hope that both countries will work together and continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. A translation of President Lai’s remarks follows: Once again, I would like to offer a warm welcome to President Arévalo and First Lady Lucrecia Peinado, who are leading this delegation to Taiwan. President Arévalo’s previous visit to Taiwan was 31 years ago. Back then, Taiwan did not have direct presidential elections, and the nation was continuing to make progress toward democratization. Today, 31 years later, Taiwan has conducted direct presidential elections eight times, with three transfers of power between political parties. On this visit, I am sure that President Arévalo will gain a deep appreciation for Taiwan’s free and democratic atmosphere.  Taiwan and Guatemala have both undergone an arduous democratization process. A little over 200 years ago, the people of Guatemala took a stand against colonial oppression, seeking national dignity and the freedom of its people. Eighty-one years ago, President Arévalo’s father, Juan José Arévalo, became Guatemala’s first democratically elected president, establishing an important foundation for subsequent democratic development.  Our two peoples have democracy in their blood. Both know the value of freedom and democracy and are willing to take a stand for those values. Therefore, in face of the continuous expansion of authoritarian influence, our two countries must join hands in brotherhood to respond to threats and challenges, and come together in solidarity to safeguard our hard-earned freedom and democracy. I hope that both countries will work together to continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. I hope that on this visit, in addition to gaining a deeper understanding of Taiwan’s political, economic, and social development, President Arévalo can also reacquaint himself with the democratic vitality and cultural diversity of Taiwan by sampling various gourmet delicacies and once again experiencing the beauty of our scenery and warmth of our people. Guatemala is a very beautiful country. In the future, I hope to have a chance to personally experience that beauty, explore Mayan civilization, and savor local Guatemalan coffee. In closing, I wish the visiting delegation a smooth and successful trip, and beautiful, unforgettable memories. May President Arévalo enjoy the best of health, and may the diplomatic friendship between our two countries endure. President Arévalo then delivered remarks, stating that at different times and by different means, the people of Taiwan and Guatemala have relentlessly sought to defend freedom and democracy. We share the same expectations, he said, and are walking the right path amid today’s complex international circumstances.  President Arévalo stated that Taiwan and Guatemala are true democratic nations, where the government’s goal is to serve all the people. He noted that this is far from easy under current circumstances, as many authoritarian regimes use their long-term hold on power to safeguard the interests of select groups and neglect the wellbeing of the population as a whole. President Arévalo said that last week Guatemala commemorated the 40th anniversary of its constitution, which was enacted in 1985 and is Guatemala’s ultimate guide, setting the foundation for democracy and clearly outlining the path ahead. He said that over the past 40 years, Guatemala has continued to follow the democratic blueprint established by the constitution and end the civil war so that the nation could make the transition to real democracy. Although more than a few ambitious people have attempted to destroy that process from within, he noted, the people of Guatemala have never given up the pursuit of democracy as an ideal. President Arévalo stated that our two sides’ coming together here is due to such shared values as freedom and democracy as well as the idea of serving all the people. He underlined that the governments of both countries will continue to work hard and provide mutual support to smooth out each other’s path of democracy, freedom, and justice. President Arévalo emphasized that the government of Guatemala will always be Taiwan’s ally, and that he firmly believes Taiwan is Guatemala’s most reliable partner on the path of democracy and economic prosperity and development. The president said he hopes this visit will be the first step towards setting a new course for the governments and peoples of both countries. Also in attendance at the banquet were Guatemala Minister of Foreign Affairs Carlos Ramiro Martínez, Minister of the Economy Gabriela García, and Guatemala Ambassador Luis Raúl Estévez López.  

    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 Europe: Written question – The role of local authorities in addressing the financial and operational challenges posed by PFAS and other persistent chemical contaminants in Europe – E-002429/2025

    Source: European Parliament

    Question for written answer  E-002429/2025
    to the Commission
    Rule 144
    Radan Kanev (PPE), Dimitris Tsiodras (PPE), Danuše Nerudová (PPE), Manuela Ripa (PPE), Martin Hojsík (Renew), Bruno Tobback (S&D), Irena Joveva (Renew), Marie Toussaint (Verts/ALE), Christine Singer (Renew), Aurelijus Veryga (ECR), Ingeborg Ter Laak (PPE), Eva Maydell (PPE), Michalis Hadjipantela (PPE), Benoit Cassart (Renew), Olivier Chastel (Renew), Tomáš Zdechovský (PPE), Liesbet Sommen (PPE), Oliver Schenk (PPE), Paulo Cunha (PPE), András Tivadar Kulja (PPE), Sebastian Everding (The Left)

    High-quality water is essential for industry, agriculture and the circular economy. The European Water Resilience Strategy rightly highlights that so-called ‘forever chemicals,’ such as per- and polyfluoroalkyl substances (PFAS) lead to rising costs, which are largely borne by local authorities.

    In the absence of harmonised data, the exact scale of this financial burden remains difficult to assess. However, the strategy estimates that treating drinking water contaminated with PFAS could cost up to EUR 18 billion per year, not including even higher costs related to wastewater treatment and sludge management.

    This financial pressure is increasingly falling on citizens, particularly in urban areas located near industrial sites of strategic importance. Urgent measures must be funded in these areas, including advanced filtration systems, the purchase of substitute drinking water and pollution mapping. These expenditures come at the expense of other local priorities, such as support for local businesses.

    • 1.How does the Commission plan to involve local authorities in the collection and analysis of costs related to the treatment of PFAS and other persistent chemicals?
    • 2.Does the Commission plan to involve local governments in shaping the public-private partnerships envisaged in the European Water Resilience Strategy for managing PFAS and other persistent chemicals?

    Submitted: 17.6.2025

    MIL OSI Europe News

  • MIL-OSI Europe: Swiss data ecosystem: Contact point becomes operational

    Source: Switzerland – Department of Foreign Affairs in English

    At its meeting on 15 January, the Federal Council was informed that the Swiss data ecosystem contact point has commenced work. The contact point supports public authorities, businesses and organisations in establishing trusted data spaces. Its groundwork contributes to better exploiting the potential of data in Switzerland, thus creating additional value for society, the economy and research.

    MIL OSI Europe News

  • MIL-OSI Africa: South Sudan’s Minister of Mines to Showcase E&P Prospects at African Mining Week (AMW) 2025

    Source: Africa Press Organisation – English (2) – Report:

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    Martin Gama Abucha, Minister of Mines of South Sudan, has joined the upcoming African Mining Week (AMW) conference as a speaker. Minister Abucha will take part in the Ministerial Forum, where he will share insight into South Sudan’s policy frameworks, investment incentives and infrastructure plans aimed at unlocking the full potential of the country’s mining sector. 

    As South Sudan seeks to increase mining investments and drive projects forward, AMW provides an ideal platform for Minister Abucha to outline the country’s commitment to enhancing cooperation with global public and private stakeholders to build a robust and competitive mining value chain. As the premier gathering for mining stakeholders in Africa, the event connects global financiers and project developers with African mining opportunities, facilitating collaboration and deal-signing. Insights shared by Minister Abucha will support future deals. 

    African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

    Under Minister Abucha’s leadership, South Sudan’s Ministry of Mines has been accelerating geological mapping to identify exploration hotspots and reduce investment risk. In April 2025, the Ministry hosted a delegation from Qatar, including government officials and mining investors, to discuss opportunities in seismic studies, gold refining and the extraction of lead and critical minerals. The meeting follows Qatari firms such as United Gold investing across South Sudan to establish gold marketing stations. The stations aim to formalize artisanal mining by integrating informal production into the formal economy. 

    Collaborations are also underway with South Africa to leverage the country’s mining expertise, investment portfolio and technology to better understand South Sudan’s mineral landscape. Other partnerships include with Russia’s ROSGEO, the U.S.-based REE-Magnesium and Canada’s CVMR to map the country’s mineral resources and better understand the geology. In November 2024, South Sudan’s national oil company Nilepet announced the discovery of critical minerals following a geological survey conducted in the first half of 2024 and revealed plans to establish a national mining company to support sector growth. 

    Amid these developments, AMW 2025 offers a timely opportunity for Minister Abucha to engage with global geoscience firms, mining investors and African stakeholders to forge new partnerships and strengthen existing collaborations. AMW 2025 panel discussions and project showcases will position South Sudan as an emerging mining destination on the continent. 

    – on behalf of Energy Capital & Power.

    MIL OSI Africa

  • MIL-OSI Europe: Written question – Backlash against financing aid to Ukraine – E-002495/2025

    Source: European Parliament

    Question for written answer  E-002495/2025
    to the Commission
    Rule 144
    Erik Kaliňák (NI)

    Following the Commission’s proposal to pledge up to EUR 40 billion in military assistance to Ukraine this year, with each country contributing according to the size of its economy, Spain and Italy voiced their opposition[1].

    In the light of the above:

    • 1.What further steps does the Commission plan to take?
    • 2.Is the Commission not aware that Member States are financially exhausted by the measures to support Ukraine that the Commission is continuously proposing?
    • 3.Does the Commission not feel that the EU should become more actively involved in pressing for a peaceful dialogue instead of endless military support and the associated need for continuous funding?

    Submitted: 23.6.2025

    • [1] https://www.reuters.com/world/europe/italy-spain-not-ready-back-eu-plan-boost-ukraine-military-aid-2025-03-17/
    Last updated: 30 June 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Lack of effectiveness and transparency in Recovery and Resilience Facility investments in Greece – E-002518/2025

    Source: European Parliament

    Question for written answer  E-002518/2025
    to the Commission
    Rule 144
    Nikolaos Anadiotis (NI)

    Greece was among the first four Member States to submit national recovery plans in April 2021,[1] securing through the Recovery and Resilience Facility – a critical tool for rebuilding its economy after the pandemic – resources totalling EUR 35.95 billion,[2] a significant financing opportunity for its economic transformation. However, serious concerns have been raised regarding the way in which the resources are allocated, their accessibility, and the overall transparency of the process.[3]

    According to analysts and independent bodies, a large part of the financing is directed to already strong businesses through banking tools with strict credit criteria, resulting in the exclusion of many small and medium-sized enterprises and social initiatives, especially on the periphery. There have been delays in the necessary reforms, proposals for the downgrading of projects and a lack of social consultation and accountability, as the process of evaluating and approving projects is carried out with limited publicity and without civil society playing an active role.

    In view of the above, the Commission is asked:

    • 1.What problems have been identified in the course of implementing the Greek recovery plan and what recommendations have been made?
    • 2.Are there any indications of lack of transparency or exclusion of potential beneficiaries (such as SMEs, local authorities)?
    • 3.What measures are being taken to strengthen civil society participation and democratic accountability in the management of European funds in Greece?

    Submitted: 23.6.2025

    • [1] https://greece20.gov.gr/to-plires-sxedio/
    • [2] https://greece20.gov.gr/me-mia-matia/
    • [3] https://www.ot.gr/2025/06/02/tameio-anakampsis/tameio-anakampsis-se-anammena-karvouna-i-eyropi-ti-perimenei-i-ellada/.
    Last updated: 30 June 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Immediate support for Chios due to fires – E-002517/2025

    Source: European Parliament

    Question for written answer  E-002517/2025
    to the Commission
    Rule 144
    Georgios Aftias (PPE)

    Since the afternoon of Sunday 22 June 2025, three fires have broken out on Chios and are spreading throughout the island due to strong winds. Over the last few hours – despite the brave efforts of the fire brigade – the fires have been reigniting, resulting in 17 settlements being evacuated for safety reasons and many areas of the island being without electricity and access to basic supplies. According to an announcement by the Ministry of Climate Crisis and Civil Protection, in the last 48 hours in Greece, firefighters have been called to deal with 110 fires in various areas of the country.

    Given the above:

    • 1.Will the European Solidarity Fund be activated to compensate those affected by the fires and does the Commission intend to finance the establishment of a European fire brigade to assist the Mediterranean countries affected by the fires?
    • 2.Does the Commission intend to provide more resources to Member States so that they can acquire the means and personnel to prevent and extinguish fires?
    • 3.Will those affected by the fires be compensated within 12 weeks, as the Commissioner responsible for Cohesion and Reforms recently announced in response to a question I asked?

    Submitted: 23.6.2025

    Last updated: 30 June 2025

    MIL OSI Europe News

  • MIL-OSI Europe: EIB and CAF unite to drive sustainable growth in Latin America under Global Gateway

    Source: European Investment Bank

    In a significant step towards deepening international development cooperation, the European Investment Bank (EIB) and CAF Development Bank of Latin America and the Caribbean signed a memorandum of understanding today during a high-level meeting with Community of Latin American and Caribbean States (CELAC) finance ministers and financial institutions operating in the Latin America and the Caribbean region, in advance of the Fourth International Conference on Financing for Development (FFD4) held in Seville.

    EIB President Nadia Calviño and CAF President Sergio Díaz-Granados formalised the agreement, which aims to enhance institutional collaboration and mobilise financing for high-impact projects across Latin America and the Caribbean. Central to the memorandum of understanding is the shared commitment to promote climate action and environmental sustainability, reflecting both institutions’ priorities and the European Union’s Global Gateway strategy.

    From dialogue to strategic partnership

    The signing of the memorandum of understanding marks a significant evolution in the relationship between the EIB and CAF, moving from ad hoc coordination to a more structured and strategic form of collaboration. The agreement is designed to turn shared ambitions into practical outcomes by expanding sustainable investments and tackling key development challenges across Latin America and the Caribbean.

    The memorandum of understanding outlines a broad framework for cooperation that preserves the independence of each institution while building a foundation for deeper coordination, as it offers a flexible and scalable model for collaboration.

    A shared vision for climate and development

    The partnership’s central goal is to boost financing for projects aligned with climate action and environmental sustainability, specifically those that contribute to greenhouse gas mitigation, climate resilience, biodiversity preservation and the fight against environmental degradation. The cooperation will also aim to reinforce regional value chains and accelerate the transition to green, inclusive economies.

    The memorandum of understanding envisions financial support through multiple instruments, including parallel and joint co-financing, loan guarantees, equity investments, advisory services and knowledge transfer. Both institutions will also explore the mobilisation of EU and Member State grants through platforms such as the Latin America and Caribbean Investment Facility (LACIF).

    Looking ahead

    The memorandum of understanding is supported by a clear and actionable roadmap that outlines specific steps for implementation and monitoring. Through this agreement, the EIB and CAF demonstrate a strong and unified commitment to promoting sustainable growth across Latin America and the Caribbean.

    The partnership reinforces the practical objectives of the Global Gateway strategy, turning vision into investment-driven action. By formalising and expanding their collaboration, both institutions aim to mobilise significant financial resources, close investment gaps and accelerate the region’s transition to a greener and more resilient future.

    Towards the CELAC-EU summit in Santa Marta, Colombia

    The upcoming CELAC-EU summit in Santa Marta represents a new milestone in the strategic partnership between the European Union and Latin America and the Caribbean. It offers a key opportunity to highlight and give full value to the renewed agreement between the EIB and CAF, showcasing it as a tangible example of joint commitment to sustainable development, climate action and deeper regional integration under the Global Gateway framework.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Participation of Santos Cerdán (PSOE) in projects financed with NextGenerationEU funds – P-002530/2025

    Source: European Parliament

    Priority question for written answer  P-002530/2025
    to the Commission
    Rule 144
    Jorge Buxadé Villalba (PfE), Hermann Tertsch (PfE)

    According to police reports, Santos Cerdán, the former PSOE organisational secretary being investigated for corruption, holds 45% of the shares in the company Servinabar 2000 S. L. This company was part of a joint venture together with other companies in public tenders published by the Regional Government of Navarre. In 2023, the regional government led by María Chivite (PSOE) awarded a contract (valued at EUR 6.4 million) for the construction of 46 low-cost housing units in Erripagaña (Navarre). The project, managed by the regional public company Nasuvinsa, was co-financed with NextGenerationEU funds from the Recovery and Resilience Facility. According to multiple media outlets, neither the aforementioned shareholding nor the relationship with high-ranking socialist officials were declared in the tendering documents.

    In view of the cases of corruption surrounding Pedro Sánchez, the following questions thus arise:

    • 1.Is the Commission aware of the above situation and of the possible conflict of interest generated by the aforementioned shareholding?
    • 2.Has the Commission received any alerts or reports on possible irregularities in the aforementioned project financed with EU funds, for example, through the Irregularity Management System?
    • 3.When will the Commission alert OLAF and request information from the Spanish authorities to ensure that the EU’s financial interests are safeguarded?

    Submitted: 24.6.2025

    Last updated: 30 June 2025

    MIL OSI Europe News

  • MIL-OSI Europe: REPORT on the draft Council directive amending Directive 2006/112/EC as regards VAT rules relating to taxable persons who facilitate distance sales of imported goods and the application of the special scheme for distance sales of goods imported from third territories or third countries and special arrangements for declaration and payment of import VAT – A10-0119/2025

    Source: European Parliament

    DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

    on the draft Council directive amending Directive 2006/112/EC as regards VAT rules relating to taxable persons who facilitate distance sales of imported goods and the application of the special scheme for distance sales of goods imported from third territories or third countries and special arrangements for declaration and payment of import VAT

    (08710/2025 – C10‑0084/2025 – 2023/0158(CNS))

    (Special legislative procedure – renewed consultation)

    The European Parliament,

     having regard to the Council draft (08710/2025),

     having regard to the Commission proposal to the Council (COM(2023)0262),

     having regard to its position of 22 November 2023[1],

     having regard to Article 113 of the Treaty on the Functioning of the European Union , pursuant to which the Council consulted Parliament again (C10‑0084/2025),

     having regard to Rule 84 and Rule 86 of its Rules of Procedure,

     having regard to the report of the Committee on Economic and Monetary Affairs (A10-0119/2025),

    1. Approves the Council draft;

    2. Calls on the Council to notify Parliament if it intends to depart from the text approved by Parliament;

    3. Asks the Council to consult Parliament again if it intends to amend its draft substantially;

    4. Instructs its President to forward its position to the Council, the Commission and the national parliaments.

    EXPLANATORY STATEMENT

    On 8 December 2022, the Commission presented the ‘VAT in the digital age’ package (ViDA), which consists of three proposals:

     A proposal for a Council directive amending directive 2006/112/EC as regards VAT rules for the digital age;

     A proposal for a Council regulation amending regulation (EU) No 904/2010 as regards the VAT administrative cooperation arrangements needed for the digital age;

     A proposal for a Council implementing regulation amending implementing regulation (EU) No 282/2011 as regards information requirements for certain VAT schemes.

    The package developed an action plan that emphasized the need to reflect on how technology can be used in the fight against tax fraud and how the current VAT rules in the European Union could be adapted for doing business in the digital age. The three proposed changes to make VAT fit for the digital age are

    i) A new real time digital reporting system based on e-invoicing,

    ii) An update of the VAT rules for the platform economy and

    iii) A single VAT registration for businesses selling to consumers across the EU.

    The European Parliament was consulted and delivered its opinion on these legislative proposals on 22 November 2023. In January 2025, the Parliament was re-consulted on the draft Council directive amending Directive 2006/112/EC as regards VAT rules for the digital age. This re-consultation was linked to the deemed supplier regime which was a significant point of contention within the Council, making it particularly challenging to reach a final compromise (A10-0001/2025).

    The European Parliament is now consulted for the second time for the following reason.

    The original VIDA package contained a proposal to make the import one-stop-shop (IOSS) mandatory. However, Member States rejected it. The alternative proposal to motivate the use of IOSS by making suppliers and platforms liable for import VAT if they do not use the IOSS was not mature enough to be included in the VIDA package, which was adopted by Council in March 2025.

    In May 2023, the Commission issued a package of proposals to reform the Union Customs Code, notably to abolish the 150€ threshold for exemption of customs duties and VAT on import.

    In the summer of 2024, the provisions to incentivise the use of IOSS were added to the Commission proposals to reform the Union Customs Code in view of their relation with the customs rules. The Polish Presidency advocated splitting these provisions to incentivise the use of IOSS, considered as sufficiently mature, from the customs proposal and to agree on them separately. This was accepted by delegations.

    At the 13 May 2025 ECOFIN, the Council agreed to incorporate the provisions to incentivise the use of IOSS in the VAT Directive, which make suppliers and platforms liable for import VAT if they do not use the IOSS.

    In its opinion on 22 November 2023, the European Parliament advocated that the IOSSs should operate transparently and securely. Moreover, it also highlighted that a unified approach between the IOSS, on the one hand, and customs legislation and practice, on the other, would help bring an end to inconsistencies, errors and double taxation. Moreover, the European Parliament underlined the need to limit the administrative burden for SMEs. In addition, the European Parliament asked to assess the advantages and disadvantages of making IOSS mandatory.

    Therefore, in light of the above, the rapporteur is of the view that a simplified procedure without amendments is the relevant procedure for this re-consultation.

    ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

    The rapporteur declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

    PROCEDURE – COMMITTEE RESPONSIBLE

    Title

    Amending Directive 2006/112/EC as regards VAT rules relating to taxable persons who facilitate distance sales of imported goods and the application of the special scheme for distance sales of goods imported from third territories or third countries and special arrangements for declaration and payment of import VAT

    References

    08710/2025 – C10-0084/2025 – COM(2023)0262 – C9-0174/2023 – 2023/0158(CNS)

    Date Parliament was consulted

    20.7.2023

     

     

     

    Committee(s) responsible

     Date announced in plenary

    ECON

    16.6.2025

     

     

     

    Rapporteurs

     Date appointed

    Ľudovít Ódor

    20.5.2025

     

     

     

    Simplified procedure – date of decision

    24.6.2025

    Discussed in committee

    24.6.2025

     

     

     

    Date adopted

    24.6.2025

     

     

     

    Date tabled

    27.6.2025

     

     

    MIL OSI Europe News

  • MIL-OSI Europe: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: European Investment Bank

    EIB

    The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address  development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs.  The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements  have been signed, helping streamline the preparation and implementation of  co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed  the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization. 

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration;  2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers. 

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Europe News

  • MIL-OSI Europe: Joint Statement: Heads of Multilateral Development Banks commit to strong joint action on development priorities

    Source: European Investment Bank

    PARIS (28 June) – The Heads of Multilateral Development Banks (MDBs) met today in Paris, hosted by the Council of Europe Development Bank (CEB), which currently chairs the Heads of MDBs Group. The meeting focused on advancing their joint efforts to address  development priorities.

    Amid rising global uncertainty, the Heads reaffirmed their commitment to working as a system to deliver greater impact and scale, in line with their Viewpoint Note and the recommendations of the G20 Roadmap towards Better, Bigger, and More Effective MDBs.  The Roadmap outlines an ambitious vision for MDB reform to better address regional and global challenges, support job creation, and help countries achieve their development aspirations.

    The Heads welcomed ongoing efforts to improve the way MDBs work with clients through operational efficiency and enhanced coordination. In 2025 alone, five mutual reliance agreements  have been signed, helping streamline the preparation and implementation of  co-financed projects across institutions.

    Private capital mobilization remains a system-wide priority, with the last joint report of the MDBs reflecting a positive trend in volumes mobilized. To build on this momentum, the Heads reaffirmed their commitment to developing local currency lending and foreign exchange solutions. They also reaffirmed  the importance of adequate risk assessment for private sector investment in emerging markets and developing economies; in this context, the valuable contribution of disaggregated statistics on credit risk published through the Global Emerging Markets Risk Database (GEMs) was recognized.

    The Heads reiterated their continued commitment to implementing the recommendations of the G20 Independent Review of Multilateral Development Banks’ Capital Adequacy Frameworks (CAF).  Further reform efforts by MDBs since mid-2024 have increased the additional lending headroom for development projects in all countries of operation, including high-income ones, over the next decade by more than US$250 billion, thus reaching a total of over US$650 billion.

    The publication in the coming weeks of the Comparison Report by the MDBs’ Global Risk and Finance Forum (GRaFF) will provide metrics and data relating to MDBs’ financial positions, promoting a better understanding of their financial models and supporting both balance sheet optimization and private sector mobilization. 

    The Heads also agreed to continue advancing promising initiatives already underway to strengthen system-wide impact. These include: 1) Mission 300, which aims to connect 300 million people in Africa to electricity by 2030 through public and private collaboration;  2) Association of South East Asian Nations (ASEAN) Power Grid, which aims to boost energy security, strengthen resilience, and promote decarbonization for the region’s 670 million people by connecting its electricity systems; and 3) Digital Transformation in Education in Latin America and the Caribbean, which aims to connect 3.5 million students and train over 250,000 teachers. 

    In addition, MDBs are exploring joint actions to scale up investments in social infrastructure, including health, education, housing, and water and sanitation. Building on structured dialogue led by the CEB, the Heads welcomed progress made through recent cross-MDB consultations and recognized the key role these sectors play in enabling jobs, productivity, and inclusive growth, while noting persistent financing and delivery challenges that constrain impact.

    Meeting in advance of the Fourth International Conference on Financing for Development (FfD4), which will take place in Sevilla, Spain, from 30 June to 3 July, MDBs remain committed to working better as a system, in alignment with country-led development priorities and strategies to promote jobs and prosperity. In view of water’s role in human development, MDBs committed to significantly increasing collective support for global water security by 2030, and will launch the first “Joint Annual MDB Water Security Financing Report” at FfD4. Heads noted the importance of the upcoming COP30 in Belem, Brazil, in November 2025.

    Today’s meeting in Paris marks a significant step toward effective collaboration and scaled-up collective action for development priorities. MDB reforms are advancing, moving from concept to execution.

    With streamlined operations, better risk tools, and growing financial capacity, MDBs are delivering real impact – from expanding energy access and digital education to scaling investment in water security.

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Highland Council launches new electrical reuse facility at Nairn Recycling Centre

    Source: Scotland – Highland Council

    The Highland Council has launched a new facility at the Nairn Household Waste Recycling Centre (HWRC), enabling householders to donate working electrical and electronic items for reuse.

    Residents can now bring old, unused, or unwanted items such as mobile phones, laptops, tablets, toasters, air fryers, and TVs to the Nairn HWRC, provided they are still in good working order.

    These items will be collected by ILM Highland, a social enterprise based in Alness that specialises in electrical recycling. ILM Highland will test and clean the donated items before offering them for sale in their retail shop and online. Proceeds from these sales support ILM’s home improvement services, which assist some of the most vulnerable members of the community.

    This initiative is supported by a £135,000 grant from the Scottish Government’s Recycling Improvement Fund (Small Grant Scheme), awarded to The Highland Council and ILM Highland to promote circular economy practices for Waste Electrical and Electronic Equipment (WEEE) across the region.

    Councillor Graham MacKenzie, Chair of the Communities and Place Committee, said: “This new reuse facility is the first of its kind in Scotland, and I am grateful for the funding from the Scottish Government’s Small Grants Fund, which has enabled the Council and our partner ILM Highland to deliver this valuable new service. Increasing opportunities for the public in Highland to donate unwanted tech items for reuse is hugely important. It helps reduce carbon emissions, preserve precious metals, and create jobs—contributing to the growing circular economy for electrical devices.”

    Martin MacLeod, CEO at ILM Highland, said: “We’re proud to be working in partnership with The Highland Council to launch this new reuse facility in Nairn. At ILM Highland, we’re passionate about extending the life of electrical items and reducing unnecessary waste. By giving residents a convenient way to donate working appliances and tech, we can divert valuable resources from landfill and make them available to households who need them most. Every item reused helps to support our wider mission of tackling digital exclusion and delivering essential home improvement services across the Highlands. It’s a win for people, the planet, and the local community.”

    David Gunn, Manager (Recycling Improvement Fund) Operations at Zero Waste Scotland, said: “It’s fantastic to see recycling and reuse being made more accessible to rural communities through this new service. By supporting households across the Highlands to recycle their electrical items, whether broken or in working order, this initiative is not only helping to reduce waste but also playing a vital role in Scotland’s journey towards a more circular economy.”

    In addition to the Nairn facility, the funding will support the introduction of reuse facilities at three other Household Waste Recycling Centres in the coming months. These sites will allow for the separation and collection of domestic appliances suitable for reuse.

    The grant also covers the purchase of a new van for ILM Highland, which is being used to provide monthly waste electrical and electronic equipment collections in communities with limited access to recycling centres—further boosting recycling and reuse efforts across the region.

    Before donating smart devices, householders are advised to:

    1. Back up your data – Save photos, contacts, and documents to the cloud, a personal computer, or an external drive.
    2. Delete personal data – Wipe all data and remove SIM or memory cards.
    3. Reset the device – Log out of all accounts and restore the device to factory settings.

    For opening hours and more information about the Nairn HWRC, please visit https://bit.ly/nairnhwrc  

    MIL OSI United Kingdom

  • President Murmu urges focus on ‘One Health’, animal welfare at IVRI convocation

    Source: Government of India

    Source: Government of India (4)

    President Droupadi Murmu on Monday highlighted the growing significance of the ‘One Health’ approach while addressing the convocation ceremony at the Indian Veterinary Research Institute (IVRI) in Bareilly. She called for greater emphasis on animal welfare, sustainable practices, and the role of veterinary science in safeguarding public health.

    “Our culture, rooted in the idea of Ishavasyam Idam Sarvam, teaches us to see the divine in every living being,” Murmu said, adding that the Indian tradition of gods and sages communicating with animals reflects this belief.

    Highlighting concerns over biodiversity loss, the president said, “Many species have either become extinct or are on the verge of extinction. Their conservation is crucial not just for nature but for the health of the Earth.” Referring to the COVID-19 pandemic, she warned that an unchecked consumption-driven model could have devastating effects on both the environment and public health.

    Murmu also emphasised that the ‘One Health’ paradigm—which links human, animal, and environmental health—is gaining traction globally. “Institutes like IVRI can play a key role in preventing and controlling zoonotic diseases,” she said.

    The president further underlined the transformative potential of technology in veterinary science. From genome editing and embryo transfer to AI and big data analytics, she said such tools can revolutionise animal care in India. Murmu encouraged the development of indigenous, low-cost treatments and nutritional solutions for animals, and the reduction of medicines with harmful side effects.

    Praising students for dedicating themselves to the care of animals, she advised them to remain guided by the welfare of the voiceless in moments of doubt. “Think of those innocent beings—you will find your path,” Murmu said.

    Calling on young professionals to become entrepreneurs in animal science, the president said such initiatives could not only support livelihoods but also contribute to the national economy.

    Murmu also lauded IVRI’s role in advancing veterinary research and education, and expressed hope that its graduates would lead the way in building a compassionate, science-driven future.

  • MIL-OSI Asia-Pac: Rail link consultancy pact signed

    Source: Hong Kong Information Services

    The Highways Department today signed an investigation, design and construction consultancy agreement with the AtkinsRealis – AECOM Joint Venture for the Hong Kong section of the Hong Kong-Shenzhen Western Rail Link.

     

    The joint venture’s professional team comprises the Shanghai Municipal Engineering Design Institute (Group) Company from the Mainland, local financial consultant KPMG Advisory (Hong Kong), and professional members spanning various other disciplines.

     

    The department said it will work with the joint venture to take forward investigation and design work for the project at full steam.

     

    It aims to have the project ready for tendering in 2027, and to achieve completion of construction works in 2034.

     

    This will be followed by integrated testing and commissioning to realise the common goal of the Hong Kong Special Administrative Government and Shenzhen’s municipal government of commissioning the rail link in 2035.

     

    The 18.1-km link runs underground from Hung Shui Kiu to Qianhai, with the Hong Kong section taking up 7.3 km and the Shenzhen section running about 10.8 km long.

     

    It will comprise five stations – three in Hong Kong, at Hung Shui Kiu, Ha Tsuen and Lau Fau Shan; and two in Shenzhen, at Shenzhen Bay Port and Qianhaiwan.

     

    Hong Kong and Shenzhen have agreed to co-locate immigration and customs facilities in Shenzhen, while the depot will be at Ha Tsuen.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Government’s financial results for two months ended May 31, 2025

    Source: Hong Kong Government special administrative region

         The Government announced today (June 30) its financial results for the two months ended May 31, 2025.

         Expenditure and revenue from April to May 2025 amounted to HK$129.7 billion and HK$55.9 billion respectively, resulting in a deficit of HK$78.4 billion after taking into account HK$15.5 billion received from issuance of Government Bonds and repayment of HK$20.1 billion principal on Government Bonds.

         A Government spokesperson said that the deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes, are mostly received towards the end of a financial year.

         The fiscal reserves stood at HK$575.9 billion as at May 31, 2025.

         Detailed figures are shown in Tables 1 and 2.

    TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
     

      Month ended
    May 31, 2025
    HK$ million
    Two months ended
    May 31, 2025
    HK$ million
    Revenue 17,448.6 55,906.5
    Expenditure (66,328.1) (129,774.6)
         
    Deficit before issuance
    and repayment of
    Government Bonds
    (48,879.5) (73,868.1)
         
    Proceeds received from
    issuance of
    Government Bonds
    9,435.9 15,534.8
         
    Repayment of
    Government Bonds*
    (20,070.1) (20,120.5)
         
    Deficit after issuance
    and repayment of
    Government Bonds
    (59,513.7) (78,453.8)
         
    Financing    
    Domestic    
         Banking Sector (Note 2) 59,210.2 75,933.7
         Non-Banking Sector 303.5 2,520.1
    External
           
    Total 59,513.7 78,453.8
    * Being repayment of principal on Government Bonds and does not include the associated interest and other expenses.

    Government Debts as at May 31, 2025 (Note 3)
        HK$298,332 million
    Debts Guaranteed by Government as at May 31, 2025 (Note 4)
        HK$123,199 million

    TABLE 2. FISCAL RESERVES
     

     
     
    Month ended
    May 31, 2025
    HK$ million
    Two months ended
    May 31, 2025
    HK$ million
    Fiscal Reserves at start of period 635,376.7 654,316.8
    Consolidated Deficit after
    issuance and repayment of
    Government Bonds
    (59,513.7) (78,453.8)
         
    Fiscal Reserves at end of period
    (Note 5)
    575,863.0 575,863.0

    Notes:

    1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at May 31, 2025, was HK$216,896 million.

    2. Includes transactions with the Exchange Fund and resident banks.

    3. The Government Debts, with proceeds credited to the Capital Works Reserve Fund, comprise:

    (i) the Green Bonds (equivalent to HK$177,761 million as at May 31, 2025) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,950 million with maturity from January 2026 to January 2053), euros (4,580 million euros with maturity from February 2026 to November 2041), Renminbi (RMB34,000 million with maturity from June 2025 to July 2054) and Hong Kong dollars (HK$22,000 million with maturity from February 2026 to October 2026);

    (ii) the Infrastructure Bonds (equivalent to HK$65,900 million as at May 31, 2025) issued under the Infrastructure Bond Programme. They were denominated in Renminbi (RMB19,000 million with maturity from December 2025 to May 2035) and Hong Kong dollars (HK$45,230 million with maturity from November 2025 to March 2045); and

    (iii) the Silver Bonds with nominal value of HK$54,671 million (with maturity in October 2027 and may be redeemed before maturity upon request from bond holders) issued under the Infrastructure Bond Programme.

         They do not include the outstanding bonds with nominal value of HK$168,090 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,841 million as at May 31, 2025) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$96,090 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$66,959 million will mature within the period from June 2025 to May 2026 and the rest within the period from June 2026 to May 2042.

    4. Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the SME Financing Guarantee Scheme launched in 2012, and the Loan Guarantee Scheme for Cross-boundary Passenger Transport Trade, the Loan Guarantee Scheme for Battery Electric Taxis and the Loan Guarantee Scheme for Travel Sector launched in 2023.

    5. Includes HK$250,041 million, being the balance of the Land Fund held in the name of “Future Fund”, for long-term investments up to December 31, 2030. The Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Ensuring high-quality development with high-level security: Hong Kong National Security Law heralds fifth anniversary

    Source: Hong Kong Government special administrative region

    Ensuring high-quality development with high-level security: Hong Kong National Security Law heralds fifth anniversary 
    The spokesman said, “National security is a top priority as it forms the basis for a country’s existence and development. After reunification, Hong Kong had long been ‘undefended’ in terms of safeguarding national security. Anti-China elements and external forces continuously challenged the bottom line of the principle of ‘one country, two systems’, and even attempted to seize the power of governance. Unprecedented crises have been brought to Hong Kong by the ‘anti-national education’ incident in 2012, the illegal ‘Occupy Central’ movement in 2014, the Mong Kok riot in 2016, the ‘black-clad violence’ and Hong Kong version of the ‘colour revolution’ which lasted for more than ten months since June 2019, severely damaging Hong Kong’s societal, economic and business environment and caused the public to live in fear.”
     
          “The Central Authorities acted decisively at a critical moment for Hong Kong. On May 28, 2020, the National People’s Congress (NPC) made a relevant decision on the basis of which, the NPC Standing Committee enacted, on June 30, 2020, the HKNSL which was then listed under Annex III to the Basic Law for local promulgation and implementation in the HKSAR. The HKNSL has addressed the shortcomings and plugged the loopholes in the legal system and enforcement mechanisms for safeguarding national security of the HKSAR, playing the role of a stabilising force that immediately stopped violence and curbed disorder. The implementation of HKNSL was a ‘watershed moment’ in Hong Kong’s transition from chaos to order, as stability and safety of the city have been restored by the law.”
     
          “Thereafter, with the concerted efforts of the HKSAR Government, the Legislative Council and all sectors of the community, the HKSAR fulfilled its constitutional duty last year by completing the legislation of Article 23 of the Basic Law. The Safeguarding National Security Ordinance (SNSO) took effect upon gazettal on March 23, 2024, improving the legal system and enforcement mechanisms of the HKSAR for safeguarding national security. The HKNSL and the SNSO are compatible and complementary, building a strong line of defence to safeguard national security in Hong Kong.”
     
    The spokesman emphasised, “The implementation of the HKNSL over the past five years has proven the law to be a ‘guardian’ in upholding the principle of ‘one country, two systems’ and in safeguarding the prosperity and stability of Hong Kong. It is an important and timely piece of legislation with profound historical significance. The HKNSL and other laws in safeguarding national security in the HKSAR firmly adhere to the principle of the rule of law while protecting the rights and freedoms in accordance with the law. At present, the business environment has continuously improved. Hong Kong ranks first as the world’s freest economy and third among global financial centres, and has returned to the top three in the world in terms of competitiveness, demonstrating that Hong Kong is moving full steam ahead along the path of ‘advancing from stability to prosperity’.”
     
          “The laws for safeguarding national security in the HKSAR protect human rights. The principles of respecting and protecting human rights, as clearly and comprehensively set out, are embodied in the provisions of the HKNSL and the SNSO as well as in the manner in which they are implemented. Both Article 4 of the HKNSL and section 2 of the SNSO clearly stipulate that human rights shall be respected and protected in safeguarding national security in the HKSAR, and that the rights and freedoms, including the freedoms of speech, of the press, of publication, of association, of assembly, of procession and of demonstration, that Hong Kong residents enjoy under the Basic Law and the provisions of the International Covenant on Civil and Political Rights (ICCPR) and the International Covenant on Economic, Social and Cultural Rights as applied to Hong Kong, shall be protected in accordance with the law. The various provisions of the laws for safeguarding national security in the HKSAR are in line with international standards, striking a reasonable balance between safeguarding national security and protection of fundamental rights and freedoms.”
     
          “In fact, the HKSAR has a solid, resilient foundation of the rule of law that is well-recognised by the international community. The law enforcement agencies of the HKSAR have been strictly taking law enforcement actions based on evidence and in accordance with the law. The Department of Justice of the HKSAR, by virtue of Article 63 of the Basic Law, controls criminal prosecutions, free from any interference. Independent prosecutorial decisions for each case are made in a rigorous and objective manner, strictly based on evidence and applicable laws and are in accordance with the Prosecution Code. Articles 2, 19 and 85 of the Basic Law specifically provide that the HKSAR enjoys independent judicial power, including that of final adjudication, and the courts of the HKSAR shall exercise judicial power independently, free from any interference. Cases will never be handled any differently owing to the occupation, political stance or background of the persons involved. In addition, Article 5 of the HKNSL and section 2 of the SNSO clearly stipulate that the principle of the rule of law shall be adhered to in preventing, suppressing and imposing punishment for offences endangering national security, including the principles of conviction and punishment only by the application of the law, the presumption of innocence, the prohibition of double jeopardy, and the right to defend oneself and other rights in judicial proceedings that a criminal suspect, defendant and other parties in judicial proceedings are entitled to under the law.”
     
          “It is each and every sovereign state’s inherent right to enact laws safeguarding national security, and it is also an international practice. The HKNSL and the SNSO clearly define the elements and penalties of the related offences endangering national security, precisely targeting an extremely small minority of people and organisations committing in acts and activities that endanger national security, while protecting the lives and property of the general public. Law abiding persons will not engage in acts and activities that endanger national security and will not unwittingly violate the law, and therefore have no reason to be concerned. As a matter of fact, since the promulgation and implementation of the HKNSL, stability has been quickly restored in society. With the SNSO in effect, the rights and freedoms of the HKSAR residents and of other persons in Hong Kong are even better protected while the economy of Hong Kong is picking up.”
     
    The spokesman reiterated, “Safeguarding national security is an ongoing and endless commitment. As mentioned in the ‘White Paper on China’s National Security in the New Era’ published by the Central Authorities on May 12, 2025, external forces have meddled more in China’s affairs, with an attempt to blockade, suppress and contain China through the so-called ‘Hong Kong issues’. Today, as geopolitical risks continue to escalate, the HKSAR Government will strive steadfastly to safeguard national sovereignty, security and development interests, and improve the relevant legal system and enforcement mechanisms under the robust protection of the HKNSL and the SNSO, so as to address the evolving national security risks and challenges more effectively. We will also ramp up our efforts in publicity and education to arouse public awareness in safeguarding national security, thereby forming a societal shield to fend off external intervention, ensuring high-quality development with high-level security, continuously composing a new chapter in the practice of ‘one country, two systems’.”
     
    Issued at HKT 10:30

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