Category: Economy

  • MIL-OSI Asia-Pac: President Lai meets Japan’s former Economic Security Minister Kobayashi Takayuki

    Source: Republic of China Taiwan

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    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.

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    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.

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    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
    2025-06-05
    President Lai welcomes President Bernardo Arévalo of Republic of Guatemala with military honors  
    On the morning of June 5, President Lai Ching-te welcomed with full military honors President Bernardo Arévalo of the Republic of Guatemala and his wife, who are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. In remarks, President Lai noted that over the past few years, bilateral cooperation between Taiwan and Guatemala has grown closer and more diverse, and said that moving forward, based on a foundation of mutual assistance for mutual benefit, we will continue to promote programs in line with international trends, spurring prosperity and development in both our nations. The military honors ceremony began at 10:30 a.m. in the Entrance Hall of the Presidential Office. After a 21-gun salute and the playing of the two countries’ national anthems, President Lai and President Arévalo each delivered remarks. A translation of President Lai’s remarks follows: Today, President Arévalo and First Lady Lucrecia Peinado are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. On behalf of the people and government of the Republic of China (Taiwan), I want to extend my sincerest welcome. Last year, our two countries celebrated the 90th anniversary of diplomatic ties, providing mutual support all along the way. Especially over the past few years, bilateral cooperation has grown closer and more diverse. We have a long record of remarkable results, whether in terms of medicine and public health, education and culture, technological cooperation, or economic and trade exchanges. Moving forward, based on a foundation of mutual assistance for mutual benefit, Taiwan and Guatemala will continue to promote programs in line with international trends. We will continue to strengthen exchange and cooperation for young people, as well as scholarship programs, and actively cultivate high-tech and information and communications technology industry talent, spurring prosperity and development in both our nations. Although separated by a great distance, the peoples of both countries are closely connected by their ideals and values. I am confident that with President Arévalo’s support, bilateral exchanges and cooperation will become closer and more diverse, beginning a very promising new chapter. I wish the visiting delegation a smooth and successful trip. President Arévalo then delivered remarks, saying that on behalf of the government and people of Guatemala, he is honored to visit the Republic of China (Taiwan), this beautiful nation, and to receive full military honors, which reflects the mutual respect between our two nations as well as our solid friendship. Especially as this state visit comes as we celebrate 90 years of formal diplomatic ties, he said, he has brought the foreign minister, economics minister, private secretary to the president, and social communication secretary as members of his delegation, in the hope of our ties embarking on a new chapter. President Arévalo said that Guatemala-Taiwan ties have in recent years been growing steadily on a foundation of mutual understanding and cooperation, making significant progress, and that our peoples have also cultivated sincere friendships and cooperative relationships across many fields. Our nations are especially promoting public health, education, agricultural technology, and infrastructure, he said, key fields which are conducive to economic and social development. He expressed his hope that on such good foundations of the past, we can further strengthen our bilateral ties for the future. President Arévalo stated that through this state visit they not only want to reaffirm the good bilateral ties between our nations, but that they also hope to define a trajectory for the future of our cooperation in the direction of expanding economic cooperation, building economic and trade alliances, and facilitating investment to foster a Taiwan-Guatemala relationship that benefits both peoples. He then expressed gratitude to the people of Taiwan for helping Guatemala over the past 90 years and reaffirmed the unwavering support of Guatemala for the Republic of China (Taiwan). On the occasion of this visit, he said, he hopes to extend a friendly hand to the people of Taiwan, adding that he looks forward to our nations continuing to take major steps forward on the road of mutual assistance and prosperity. Also in attendance at the welcome ceremony were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman, and members of the foreign diplomatic corps in Taiwan.  

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    2025-06-03
    President Lai confers decoration on President Hilda C. Heine of Republic of the Marshall Islands, hosts state banquet  
    At noon on June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, conferred a decoration upon President Hilda C. Heine of the Republic of the Marshall Islands, and hosted a state banquet for President Heine and her husband at the Presidential Office. In remarks, President Lai thanked President Heine for her commitment to deepening the diplomatic partnership between our nations and speaking up for Taiwan in the international arena. He also expressed hope for Taiwan and the Marshall Islands to work together to address various challenges through an even greater diversity of exchanges, and that together, we can contribute even more to peace, stability, and development throughout the Pacific region. At the decoration ceremony, President Lai personally conferred the Order of Brilliant Jade with Grand Cordon on President Heine before delivering remarks, a translation of which follows:  The Marshall Islands was the first Pacific ally that I visited after taking office as president. When I arrived there, I was immediately drawn to its beautiful scenery. And I received a very warm welcome from the local people. This gesture showed the profound friendship between our two nations. I was truly touched. I also remember trying your nation’s special Bob Whisky for the first time. The flavor was as unique and impressive as the landscape of the Marshall Islands.  In addition to welcoming our distinguished guests today, we also presented President Heine with the Order of Brilliant Jade with Grand Cordon. On behalf of the people of Taiwan, I want to thank President Heine for her commitment to deepening the diplomatic partnership between our nations, and for staunchly speaking up for Taiwan in the international arena. Both I and the people of Taiwan are profoundly grateful to President Heine for her friendship and support. Over the past few years, cooperation between Taiwan and the Marshall Islands has grown ever closer. And this visit by our distinguished guests will allow our two countries to further expand areas of bilateral exchange. I have always believed that only through mutual assistance and trust can two countries build a longstanding and steadfast partnership. I once again convey my sincere aspiration that Taiwan and the Marshall Islands work together to address various challenges through an even greater diversity of exchanges. Together, we can contribute even more to peace, stability, and development throughout the Pacific region. In closing, I want to thank President Heine and First Gentleman Thomas Kijiner, Jr. for leading this delegation to Taiwan, which deepens the foundations of our bilateral relationship. May our two nations enjoy a long and enduring friendship. President Heine then delivered remarks, stating that she felt especially privileged to receive the Order of Brilliant Jade with Grand Cordon of the Republic of China (Taiwan), and humbly accepted the honor with the utmost gratitude, humility, and deep responsibility. This is a deep responsibility, she said, because she understands that since its inception in 1933, this order has been bestowed upon a select few. She then thanked President Lai for this great honor. President Heine stated that the banquet was not just a celebration of our bilateral friendship, but a true reflection of the generosity of the Taiwan spirit and a testament to the enduring ties between our nations, founded on shared values and aspirations, including a respect for the rule of law, the preservation of human dignity, and a deep commitment to democracy. President Heine stated that the Taiwan-Marshall Islands partnership continues to evolve through practical cooperation and mutual support. In recent years, she said, our countries have worked hand in hand across a range of vital sectors, including the recent opening of the Majuro Hospital AI and Telehealth Center and the ongoing and successful Taiwan Health Center, various technical training and scholarship programs, and various climate change adaptation projects in renewable energy, coastal resilience, and sustainable agriculture.   President Heine emphasized that the Marshall Islands continues to be a proud and vocal supporter of Taiwan’s meaningful participation in the United Nations system and other international organizations. Taiwan’s exclusion from these platforms, she said, is not only unjust, but is bad for the world, and the global community needs Taiwan’s voice and expertise.  President Heine also expressed sincere appreciation to all of the Taiwanese friends who have contributed their efforts to deepening bilateral relations, including government officials, healthcare workers, teachers, engineers, and volunteers. The people of the Marshall Islands, she said, deeply appreciate and value everyone’s efforts and service. President Heine said that as we celebrate our partnership, let us look to the future with hope and determination, continue to work together, learn from one another, and support one another to champion a world where all nations can chart their own course based on peace and international law. Also attending the state banquet were Marshall Islands Council of Iroij Chairman Lanny Kabua, Minister of Foreign Affairs and Trade Kalani R. Kaneko, Minister of Finance David Paul, Nitijela Standing Committee on Foreign Affairs and Trade Chairperson Joe Bejang, and Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.  

    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 Security: Murder Charge Filed Against Teen Who Struck Another Person with a Car

    Source: Office of United States Attorneys

                WASHINGTON – Kyree Young, 17, of Washington, D.C., was arrested and charged with first degree murder while armed – felony murder, that occurred on the morning of May 7, 2025, in Northwest D.C., announced U.S. Attorney Jeanine Ferris Pirro. 

                Young made his initial appearance before Superior Court Magistrate Judge Robert J. Hildum today, where Judge Hildum found probable cause that Young committed the offense of first-degree murder while armed – felony murder and ordered that Young be held without bond pending trial. The United States is still investigating Young’s accomplices. 

                According to court documents, Young followed the victim from an ATM and struck him with a vehicle, robbed him, and tried to access his financial accounts at the same ATM he had been using earlier. The victim died at the scene.  Police later recovered the vehicle and gathered other evidence that led to Young’s identification.

                This case is being investigated by the Metropolitan Police Department and the Federal Bureau of Investigation Washington Field Division. It is being prosecuted by Assistant U.S. Attorney Jamie Carter.

                These charges are merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI

  • MIL-OSI Security: Murder Charge Filed Against Teen Who Struck Another Person with a Car

    Source: Office of United States Attorneys

                WASHINGTON – Kyree Young, 17, of Washington, D.C., was arrested and charged with first degree murder while armed – felony murder, that occurred on the morning of May 7, 2025, in Northwest D.C., announced U.S. Attorney Jeanine Ferris Pirro. 

                Young made his initial appearance before Superior Court Magistrate Judge Robert J. Hildum today, where Judge Hildum found probable cause that Young committed the offense of first-degree murder while armed – felony murder and ordered that Young be held without bond pending trial. The United States is still investigating Young’s accomplices. 

                According to court documents, Young followed the victim from an ATM and struck him with a vehicle, robbed him, and tried to access his financial accounts at the same ATM he had been using earlier. The victim died at the scene.  Police later recovered the vehicle and gathered other evidence that led to Young’s identification.

                This case is being investigated by the Metropolitan Police Department and the Federal Bureau of Investigation Washington Field Division. It is being prosecuted by Assistant U.S. Attorney Jamie Carter.

                These charges are merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI

  • MIL-OSI Security: Lone American indicted in international drug trafficking investigation sentenced to five years in prison

    Source: Office of United States Attorneys

    Local resident conspired with Mexican and Colombian nationals in drug distribution conspiracy

    Seattle – A U.S. citizen deeply enmeshed in an international drug smuggling conspiracy was sentenced today in U.S. District Court in Seattle to five years in prison, announced Acting U.S. Attorney Teal Luthy Miller. Just over a year ago, law enforcement teams from the Drug Enforcement Administration (DEA), Seattle Police Department and IRS Criminal Investigation executed 24 search or arrest warrants taking four people into custody who were linked to the drug trafficking conspiracy. 56-year-old Curtis McDaniel was arrested at a Tukwila motel and has been in custody ever since. The drug conspirators arrested on June 5, 2024, have ties to suppliers in Mexico and Colombia.

    In sentencing McDaniel to five years in prison and four years of supervised release to follow his prison term, U.S. District Judge Tana Lin referenced the significant impact that McDaniel’s distribution of methamphetamine and cocaine have upon our community—specifically noting that methamphetamine and cocaine were the second and third most common substances involved in overdose deaths in King County in 2024.

    Lead defendant Ramon Duarte Garcia, 37, a citizen of Mexico who lived in Kent, Washington, was identified as a significant drug supplier when law enforcement stopped him driving back to the Pacific Northwest with 12 pounds of methamphetamine in his vehicle, along with a stolen firearm and $10,000 in drug trafficking proceeds. Duarte Garcia, was sentenced to ten years in prison in May 2025. Defendant Humberto Lopez Rodriguez, 30, a citizen of Mexico, formerly of Renton, Washington, is scheduled for sentencing on July 30, 2025.

    Over the course of the investigation, law enforcement seized 84,000 fentanyl pills, more than a kilogram of fentanyl powder, 32 kilograms of cocaine, 15 kilograms of methamphetamine nearly three kilograms of heroin, and $71,000 in drug proceeds. They recovered nine guns, including an AK-47.

    This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    The investigation is being led by the DEA and Seattle Police Department. The IRS Criminal Investigation and OCDETF Auditor for the U.S. Attorney’s Office are conducting the financial investigation that is focused on the money launderers responsible for the transfer of significant sums of drug trafficking proceeds to sources of supply in Mexico and Colombia. Additional assistance was provided by Renton Police Department, Centralia Police Department, Homeland Security Investigations (HSI), the Department of Housing and Urban Development Office of the Inspector General (HUD OIG), Washington State Patrol, Pierce County and Valley SWAT teams.

    The Colombian National Police (CNP) and Colombian Prosecutor’s Office (Fiscalia General) partnered with U.S. law enforcement on this investigation. The Justice Department’s Narcotic and Dangerous Drug Section’s Office of the Judicial Attaché in Bogotá provided critical assistance.

    The cases from this investigation are being prosecuted by Assistant United States Attorneys Joe Silvio and C. Andrew Colasurdo in the Western District of Washington.

    MIL Security OSI

  • MIL-OSI Security: Lone American indicted in international drug trafficking investigation sentenced to five years in prison

    Source: Office of United States Attorneys

    Local resident conspired with Mexican and Colombian nationals in drug distribution conspiracy

    Seattle – A U.S. citizen deeply enmeshed in an international drug smuggling conspiracy was sentenced today in U.S. District Court in Seattle to five years in prison, announced Acting U.S. Attorney Teal Luthy Miller. Just over a year ago, law enforcement teams from the Drug Enforcement Administration (DEA), Seattle Police Department and IRS Criminal Investigation executed 24 search or arrest warrants taking four people into custody who were linked to the drug trafficking conspiracy. 56-year-old Curtis McDaniel was arrested at a Tukwila motel and has been in custody ever since. The drug conspirators arrested on June 5, 2024, have ties to suppliers in Mexico and Colombia.

    In sentencing McDaniel to five years in prison and four years of supervised release to follow his prison term, U.S. District Judge Tana Lin referenced the significant impact that McDaniel’s distribution of methamphetamine and cocaine have upon our community—specifically noting that methamphetamine and cocaine were the second and third most common substances involved in overdose deaths in King County in 2024.

    Lead defendant Ramon Duarte Garcia, 37, a citizen of Mexico who lived in Kent, Washington, was identified as a significant drug supplier when law enforcement stopped him driving back to the Pacific Northwest with 12 pounds of methamphetamine in his vehicle, along with a stolen firearm and $10,000 in drug trafficking proceeds. Duarte Garcia, was sentenced to ten years in prison in May 2025. Defendant Humberto Lopez Rodriguez, 30, a citizen of Mexico, formerly of Renton, Washington, is scheduled for sentencing on July 30, 2025.

    Over the course of the investigation, law enforcement seized 84,000 fentanyl pills, more than a kilogram of fentanyl powder, 32 kilograms of cocaine, 15 kilograms of methamphetamine nearly three kilograms of heroin, and $71,000 in drug proceeds. They recovered nine guns, including an AK-47.

    This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    The investigation is being led by the DEA and Seattle Police Department. The IRS Criminal Investigation and OCDETF Auditor for the U.S. Attorney’s Office are conducting the financial investigation that is focused on the money launderers responsible for the transfer of significant sums of drug trafficking proceeds to sources of supply in Mexico and Colombia. Additional assistance was provided by Renton Police Department, Centralia Police Department, Homeland Security Investigations (HSI), the Department of Housing and Urban Development Office of the Inspector General (HUD OIG), Washington State Patrol, Pierce County and Valley SWAT teams.

    The Colombian National Police (CNP) and Colombian Prosecutor’s Office (Fiscalia General) partnered with U.S. law enforcement on this investigation. The Justice Department’s Narcotic and Dangerous Drug Section’s Office of the Judicial Attaché in Bogotá provided critical assistance.

    The cases from this investigation are being prosecuted by Assistant United States Attorneys Joe Silvio and C. Andrew Colasurdo in the Western District of Washington.

    MIL Security OSI

  • MIL-OSI Security: Blanchard Woman Sent to Federal Prison for 22 Months, Ordered to Pay $727,300 in Restitution for Filing Fraudulent PPP Loan Application

    Source: Office of United States Attorneys

    OKLAHOMA CITY – SHERI LYNN VICKERY, 40, of Blanchard, has been sentenced to serve 22 months in federal prison and ordered to pay $727,300 in restitution for making a false statement to a financial institution, announced U.S. Attorney Robert J. Troester.

    According to public record, from April 2020 through December 2021, Vickery worked as an office manager for Coil Chem LLC, a chemical manufacturing company based in Washington, Oklahoma. On April 7, 2020, Vickery submitted an application for a Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) on behalf of Coil Chem. The PPP was a COVID-19 pandemic relief program that provided forgivable loans to small businesses for job retention and certain other expenses. The Indictment alleges that Vickery inflated Coil Chem’s total payroll costs and misrepresented what the PPP loan proceeds would be used for, ultimately causing $727,300 to be transferred into Coil Chem’s operating bank account. Vickery then used the proceeds for impermissible purposes, including to pay off a family member’s personal debts.

    On September 10, 2024, Vickery pleaded guilty, and admitted she knowingly submitted a PPP loan application that contained false representations.

    At the sentencing hearing on June 16, 2025, U.S. District Judge Jodi W. Dishman sentenced Vickery to serve 22 months in federal prison, followed by 2 years of supervised release, and ordered Vickery to pay $727,300 in restitution. In announcing the sentence, the court noted the nature and circumstances and seriousness of the offense.

    This case is the result of an investigation by the FBI Oklahoma City Field Office. Assistant U.S. Attorney Julia E. Barry prosecuted the case.

    Reference is made to public filings for additional information.

    MIL Security OSI

  • MIL-OSI Economics: New statistics on banking and mortgage loans by corporate size

    Source: Danmarks Nationalbank

    Large corporations have the highest outstanding nominal amount per corporation 

    In addition to the total outstanding nominal amount, the statistics include distributional figures for each corporation size category calculated per borrower, which here corresponds to one company (one CVR number). In the 1st quarter of 2025, small corporations had the largest outstanding nominal amount, totaling to kr. 645 billion. Of this, 78 per cent is mortgage credit debt, making it by far the largest component of small corporations’ banking and mortgage debt. In contrast, for large corporations, approximately two-thirds of their banking and mortgage debt consists of bank loans.

    A few large corporations pull up the average

    There are the most borrowers in the group of small corporations. For small corporations, the average outstanding nominal amount is kr. 8.9 million in the 1st quarter of 2025. This is in line with the median, which is one of several distributional figures included in the new statistics. In comparison, a large corporation has an average outstanding nominal amount of nearly kr. 258 million. For large corporations, the average banking and mortgage debt is considerably higher than the median. This difference indicates a large variation in banking and mortgage debt among large corporations, where a few with very large debts pull the average up in relation to the median.

    Explore the new details in the table in the Statbank

    The new table expands the statistics for banking and mortgage lending based on microdata with a more detailed grouping of loans to corporations (non-financial corporations supplemented by self-employed individuals). The corporations are grouped hierarchically by sector and then by size.

    Banking and mortgage credit based on microdata is a statistical area that is continuously developed. The new detailed data can be found in the table DNMUVS. Read more about the methodologies and table contents in Sources and method on Danmarks Nationalbank’s website.

    MIL OSI Economics

  • MIL-OSI United Kingdom: UKCIF funded programme fosters entrepreneurship, job creation and resilience in coastal communities in Belize

    Source: United Kingdom – Executive Government & Departments

    World news story

    UKCIF funded programme fosters entrepreneurship, job creation and resilience in coastal communities in Belize

    The FCDO funded a comprehensive technical assistance programme in Belize, through the United Kingdom Caribbean Infrastructure Fund (UKCIF).

    AHC Alistair White

    Micro, small, and medium enterprises (MSMEs) supported under the United Kingdom Caribbean Infrastructure Fund (UKCIF) took centre stage at the Buy Belizean Expo on 14 June. The event in Dangriga Town gave them the opportunity to showcase their products and services after months of targeted assistance.

    Their participation was the culmination of a comprehensive technical assistance programme funded by the UK Foreign, Commonwealth and Development Office (UK FCDO), as part of the wider UKCIF Coastal Highway Upgrading Project. The initiative was implemented in partnership with the Caribbean Development Bank (CDB), the Belize Social Investment Fund (BSIF), the Ministry of Infrastructure Development and Housing (MIDH), and the Belize Trade & Investment Development Service (BELTRAIDE).

    The Coastal Highway Upgrading Project is financed by a £26 million (US$32 million) grant from the UK FCDO and a US$34.5 million (£28 million) loan from the CDB, along with counterpart funding from the Government of Belize. Together, these investments aim to strengthen infrastructure and economic resilience in coastal communities.

    The initiative has supported the formalisation of 80 Micro, Small & Medium Enterprises (MSMEs) and the training of 59 business owners in the coastal communities of Gales Point and Mullins River Villages – double the original target.

    BELTRAIDE has played a key role in equipping MSMEs with skills in business development and formalisation. For the entrepreneurs and businesses supported through the UKCIF programme – including those benefiting from BELTRAIDE’s training, the Buy Belizean Expo marked a pivotal milestone. It offered a platform to tap into new economic opportunities, expand market access, and experience the real-world impact of strategic investment in sustainable livelihoods.

    During the event, 21 MSMEs which had participated in the formalisation and training activities delivered by BELTRAIDE, alongside support agencies, highlighted their vibrant entrepreneurial spirit and economic resilience fostered through this initiative.

    The new acting British High Commissioner to Belize, Alistair White, spoke at the event, noting that,

    The UK is proud to support this expo, which brings to life some of our major aims through the UK Caribbean Infrastructure Fund – increasing opportunities and improving people’s lives.

    Elbert Ellis, portfolio manager in the Caribbean Development Bank’s Social Sector Division, spoke on behalf of the bank, praising the project’s training of female entrepreneurs. He noted,

    CDB’s commitment to supporting women-led enterprises is reflected at this Expo and overall Project, with 43 of the 80 newly formalized MSMEs being female-owned, helping to build a more inclusive business environment in Belize.

    Mr. Ishmael Quiroz, Executive Director of BELTRAIDE, said,

    At BELTRAIDE, we believe that small businesses are the cornerstone of Belize’s economic future. This Expo is a powerful reflection of what happens when capacity-building meets opportunity. The MSMEs on showcase here today have not only formalised their operations but are now positioned to thrive in larger markets, showcasing the success of strategic partnerships and community empowerment.

    amilah Cardona, P.Eng., Project Engineer in the MIDH’s Project Execution Unit, added,

    The work of the MIDH extends beyond building roads. We strongly believe that incorporating additional measures within these projects enhances the livelihoods and well-being of those communities directly impacted by the project and ensures that the benefits are widely shared and sustainable.

    This Buy Belizean Expo marked a significant accomplishment in the journey of supporting livelihoods along the Coastal Highway through the UKCIF Programme, celebrating community empowerment, equitable economic development, and the transformative impact of strategic partnerships.

    Updates to this page

    Published 26 June 2025

    MIL OSI United Kingdom

  • MIL-OSI New Zealand: Cambodia: Government allows slavery and torture to flourish inside hellish scamming compounds – Amnesty International

    Source: Amnesty International

    • Amnesty visits more than 50 scamming compounds in 18-month long research
    • Testimony from survivors details human trafficking, slavery and forced labour affecting thousands
    • Findings point towards state complicity in abuses carried out by Chinese criminal gangs.

    The Cambodian government is deliberately ignoring a litany of human rights abuses including slavery, human trafficking, child labour and torture being carried out by criminal gangs on a vast scale in more than 50 scamming compounds located across the country, Amnesty International said in a new report published today: (ref. https://www.amnesty.org/en/documents/asa23/9447/2025/en/ )

    Survivors interviewed for the report, “I Was Someone Else’s Property”, believed they were applying for genuine jobs but were instead trafficked to Cambodia, where they were held in prison-like compounds and forced to conduct online scams in a billion-dollar shadow economy defrauding people around the world.

    “Deceived, trafficked and enslaved, the survivors of these scamming compounds describe being trapped in a living nightmare – enlisted in criminal enterprises that are operating with the apparent consent of the Cambodian government,” Amnesty International’s Secretary General Agnes Callamard said.

    “Jobseekers from Asia and beyond are lured by the promise of well-paid work into hellish labour camps run by well-organized gangs, where they are forced to scam under the very real threat of violence.

    “Amnesty’s research reveals the horrifying magnitude of a crisis the Cambodian authorities are not doing enough to stop. Their failures have emboldened a criminal network whose tentacles extend internationally, with millions of people impacted by the scams.”

    Amnesty’s findings suggest there has been coordination and possibly collusion between Chinese compound bosses and the Cambodian police, who have failed to shut down compounds despite the slew of human rights abuses taking place inside.

    ‘High salary and swimming pool’

    In the most comprehensive documentation yet of the issue, Amnesty’s 240-page report identified at least 53 scamming compounds in Cambodia and interviewed 58 survivors of eight different nationalities, including nine children. Amnesty also reviewed the records of 336 other victims of Cambodian compounds. Those interviewed had either escaped from compounds, been rescued or had a ransom paid by their families.

    The interviewees’ testimony gives a detailed insight into a sprawling, violent criminal operation that is taking place often with the full knowledge of the Cambodian authorities, whose woefully ineffective – and at times corrupt – response to the scamming crisis demonstrates its acquiescence and points towards state complicity in the human rights abuses taking place.

    One survivor, *Lisa, who was 18 and looking for work during a break from school in Thailand when she was trafficked, said: “[The recruiters] said I would work in administration… they sent pictures of a hotel with a swimming pool… the salary was high.”

    Instead, Lisa was taken across a river at night into Cambodia, where she spent 11 months held against her will by armed security guards and forced to work on scams. When she tried to escape, she was severely beaten.

    “There were four men… three of them held me down while the boss hit me on the soles of my feet with a metal pole… They told me that if I don’t stop screaming, they’re going to keep hitting [me] until I stop,” she said.

    ‘They kept beating [them] until their body was purple’

    As part of its 18-month long research, Amnesty International visited all but one of the 53 scamming compounds located in 16 towns and cities across Cambodia, as well as 45 similar sites also strongly suspected to be scamming compounds. Many of the buildings were formerly casinos and hotels repurposed by criminal gangs – mostly from China – after Cambodia banned online gambling in 2019.

    Compounds appeared designed to keep people inside, with features such as surveillance cameras, barbed wire around perimeter walls and large numbers of security personnel, often carrying electric shock batons and in some cases firearms. Survivors reported that “escape was impossible”.

    Most victims had been lured to Cambodia by deceptive job advertisements posted on social media sites such as Facebook and Instagram. After being trafficked, survivors said they were forced to contact people using social media platforms and begin conversations aimed at defrauding them. These included fake romances or investment opportunities, selling products that would never be delivered, or building trust with victims before financially exploiting them – known as “pig-butchering”.

    All but one of the survivors interviewed were victims of human trafficking, while everyone had been subjected to forced labour under the threat of violence. In 32 cases, Amnesty International concluded the survivors were victims of slavery as defined under international law, with compound managers exerting a level of control over them that amounted to de facto ownership. Survivors also reported being sold into compounds or witnessing the sale of other people. Many others were told they owed a debt to the compound which they had to work to repay.

    Forty of the 58 survivors interviewed had suffered torture or other ill-treatment – almost always carried out by compound managers. Some compounds had specific rooms – often known as “dark rooms” – which were designated places for torture of people who did not or could not work or meet work targets, or who contacted the authorities.

    Survivors frequently mentioned deaths inside the compounds or nearby; one survivor described hearing a body hitting the roof of a building. Amnesty International also confirmed the death of a Chinese child inside a compound.

    Survivor *Siti described seeing a Vietnamese person beaten by compound bosses for around 25 minutes. He said: “They just keep beating [the Vietnamese person] until their body was…purple…then [using] the electric baton. Beat the Vietnamese until he can’t scream, can’t get up…then the boss tell me that they wait until another compound want to buy him.”

    Of the nine children interviewed, five were subjected to torture or other ill-treatment. *Sawat, a 17-year-old Thai boy, was beaten by several managers before being told he would be stripped and forced to jump off the building.

    Cambodian government’s glaring failures

    Amnesty International’s report found that the Cambodian government has failed to adequately investigate widespread human rights abuses at scamming compounds despite being repeatedly made aware of them.

    “The Cambodian authorities know what is going on inside scamming compounds, yet they allow it to continue. Our findings reveal a pattern of state failures that have allowed criminality to flourish and raises questions about the government’s motivations,” Amnesty International’s Regional Research Director Montse Ferrer said.

    The government has claimed to be addressing the scamming crisis through its National Committee to Combat Human Trafficking (NCCT) and a number of ministerial task forces, which have overseen a series of police “rescues” of victims from compounds. However, more than two thirds of the scamming compounds identified in the report continued to operate even after police raids and “rescues”. At one compound in Botum Sakor, human trafficking has been widely reported by media and police have intervened multiple times to rescue victims, yet the site remains open.

    Police failings stem from their collaboration or coordination with compound bosses. For example, in many of the “rescues”, instead of entering the compounds and investigating, police would simply meet a manager or security guard at the gate, where they would be handed the individual(s) who had called in for help. Business then continued as usual.

    In other instances, several survivors said they were punished with beatings after their secretive efforts to contact police for help were somehow uncovered by bosses. One Vietnamese survivor told Amnesty International that police “work for the compound and will report requests for help back to the compound bosses”.

    Those “rescued” from compounds were often subsequently detained in immigration detention centres in poor conditions for months at a time – the Cambodian authorities having failed to recognize them as victims of human trafficking and provide them with the support required under international law.

    Meanwhile, the authorities have targeted others speaking out about scamming compounds. Several human rights defenders and journalists working on the issue have been arrested, while the news outlet Voice of Democracy was closed in 2023 in apparent retaliation for its reporting on the scamming crisis.

    Amnesty International sent its findings to the NCCT, which responded by sharing vague data on interventions at compounds, none of which clarified whether the state has identified, investigated or prosecuted individuals for human rights abuses other than deprivation of liberty. It also did not respond to Amnesty International’s list of scamming compounds or suspicious locations.

    “The Cambodian government could put a stop to these abuses, but it has chosen not to. The police interventions documented appear to be merely ‘for show’,” Montse Ferrer said.

    “Cambodia’s authorities must ensure no more jobseekers are trafficked into the country to face torture, slavery or any other human rights abuse. They must urgently investigate and shut down all scamming compounds and properly identify, assist and protect victims. Slavery thrives when governments look away.”

    Survivors interviewed for Amnesty International’s report were from China, Thailand, Malaysia, Bangladesh, Viet Nam, Indonesia, Taiwan and Ethiopia, but Amnesty International also had access to records of hundreds of others who are nationals of India, Kenya, Nepal and the Philippines among many more.

    Background

    Under international human rights law, the Cambodian state has a duty to ensure that no one is held in slavery or servitude or required to perform forced labour. It is obligated to protect children from economic exploitation and must prevent, prohibit, investigate and prosecute acts of torture. The Cambodian government must also effectively investigate, prosecute and adjudicate trafficking whether committed by governmental or non-state actors; it must identify trafficking victims and provide remedy; and it must implement measures to ensure that “rescue” operations of trafficked persons do not further harm their rights and dignity.

    *All survivors using pseudonyms for security reasons

    MIL OSI New Zealand News

  • MIL-OSI United Kingdom: UK trade envoy visit strengthens trade ties with Costa Rica

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK trade envoy visit strengthens trade ties with Costa Rica

    UK trade envoy visits Costa Rica to boost trade ties and engage with British businesses.

    Ambassador Ben Lyster-Binns; Trade Envoy Jess Morden MP; Costa Rican Trade Minister Manuel Tovar and Sara Wheeler MBE, UK Trade Envoy Senior Relationship Manager.

    The UK trade envoy to Central America, Jessica Morden MP, undertook her first official visit to Costa Rica from 11 to 13 June 2025. The visit aimed to strengthen the UK Costa Rica trade relationship, reinforce UK commercial interests, and highlight the UK’s global leadership on climate resilience and sustainable finance.

    During her programme, the trade envoy met with key government officials, business leaders and representatives from British companies to explore new opportunities to advance trade and investment. This included a meeting with Costa Rica’s Minister of Foreign Trade, Manuel Tovar, where she reaffirmed the UK’s support for Costa Rica’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The UK formally became a member of CPTPP in December 2024.

    The trade envoy also engaged with British companies operating in Costa Rica to gain insight into the investment landscape and identify opportunities for growth. A meeting with the British-Costa Rican Chamber of Commerce provided further perspective on the Chamber’s role in supporting UK businesses interests in the country.

    The trade envoy visited UK firms Smith & Nephew and AstraZeneca, to discuss how the Department for Business and Trade could continue to support their growth in Costa Rica. She concluded her visit with a stop at Country Day School, part of the UK-headquartered Nord Anglia Education group, touching on how the UK could support the delivery of British educational excellence in Costa Rica.

    Speaking at the King’s Birthday Party reception in San José, the trade envoy said:

    This visit offers me a valuable opportunity to further strengthen our extensive trade and investment ties, and to engage with many of you who are so passionate about the opportunities to boost bilateral prosperity.

    The UK Government’s number one mission is clear: economic growth. Our new industrial and trade strategy reflects this priority – grounded in long-term stability, a renewed commitment to free and fair trade, and a pro-business approach.

    The United Kingdom’s trade envoy programme is a network of parliamentarians integral to supporting the government’s growth mission by providing additional international trade and investment support to ministers.

    They play a crucial role in supporting the Department for Business and Trade’s growth priorities, in particular through helping deliver the industrial and trade strategies and attracting foreign direct investment to every region in the UK.

    Updates to this page

    Published 26 June 2025

    MIL OSI United Kingdom

  • MIL-OSI New Zealand: Sixty-seven more police join the blue family

    Source: New Zealand Police

    Deputy Commissioner Tania Kura, members of the police executive and wing patron former police officer, Glenda Hughes congratulated the 67 graduating constables from Wing 385 today. 

    Also attending the graduation and presenting the prize to the top award winner was Minister of Police Hon Mark Mitchell.

    Families and friends celebrated the newly attested police officers at Te Rauparaha Arena, Porirua this afternoon acknowledging the successful completion of their initial training course. 

    There are some likeminded individuals in the wing with 13 of the graduates having family members currently working in the New Zealand police.

    Four of those thirteen graduates were inspired by their fathers who are all constabulary working in Waikato District. The four new officers will be working in Waikato alongside their dads.

    One proud father is Senior Constable Ross Moratti. “I’m honoured that Jordan decided to follow in my footsteps, he’s worked incredibly hard and will be a really amazing officer.”

    Newly attested Constable Jordan Moratti says “Growing up seeing my dad in police gave me some encouragement to do the same. I really want to help people and I needed a job that was inspiring and challenging – like policing is.”

    Six wing members have family serving in police services in other parts of the world and twelve recruits were born overseas. 

    Two of the three award winners have made New Zealand their home.

    Top award winner and winner of the Driver Training Award is Australian born Sophie Eskrigge. She put her study skills from university to good use, by capturing the top of wing prize.  Sophie has a diverse education ranging from marine science, and chemistry, to finance and accounting and is now studying for a post graduate degree in property practice. She can now add initial policing skills and criminal law to that list of achievements thanks to her successful recruit training.
    “Graduation is just the beginning. From here on, we must prove ourselves worthy every single day to the people we now serve.”

    Sophie will be based in Auckland City District.

    Second Top Award and winner of the Physical Training and Defensive Tactics Award is Constable Holly Stuart.  She is originally from the United Kingdom and previously worked for the West Yorkshire Fire and Rescue service as a call handler, dispatcher, and on-call firefighter.  
    “College has taught me so much about myself as well as others. I’ve found new strengths and learnt from a very skilled bunch of instructors. The pride I feel from graduating after my 20 weeks and placing second overall in the wing, is an achievement that will stay with me for a lifetime. I’m so excited to start my journey in the community that I now call home here in Aotearoa.”

    Holly will be based in Central District.

    Leadership Award winner Constable David Afamasaga is a former Corrections Officer and Court Security Officer for the Department of Justice.  He’s also a former top sportsman and captained the Manu Samoa Rugy Sevens Team from 2017 to 2020 and 2022.  Like the other wing award winners David also won a second prize – the Firearms Award for wing 385.

    “I am truly honoured to receive this award, and be recognised by my peers and our sergeants, but I humbly take it on behalf of all my wing-mates. The hard work and dedication we’ve all put in to making it to our graduation day shows that everyone is a leader in their own right.”

    David will be working out of Counties Manukau District.

    Deployment:
    Tāmaki Makaurau a total of 23 and broken down as follows: Waitematā  9, Auckland District 1, Counties Manukau 13, Waikato  11, Bay of Plenty 9, Eastern 1, Central 3, Wellington 8, Tasman 1, Canterbury 3, Southern 8.
    The new constables will start their first week of duty in their Police districts from Monday 7 July 2025 and will continue their training on the job as probationary constables.

    All Awards: 
    Minister’s Award recognising top student and the Driver Training and Road Policing Practice Award: Constable Sophie Eskrigge posted to Counties Manukau District.
    Commissioner’s Award for Leadership and the Firearms Award: Constable David Afamasaga posted to Counties Manukau.
    Patron’s Award for second in wing recognising second top student and the Physical Training and Defensive Tactics Award: Constable Holly Stuart posted to Central District.

    Demographics:
    28.4 percent are female, 71.6 percent are male. New Zealand European make up 67.2 percent of the wing, with Māori 10.4 percent, Pasifika 6.0 percent, Asian 14.9 percent, Other 1.5 percent. 

    385 Wing Patron: Glenda Hughes:
    Glenda Hughes has had a multifaceted career in sports, law enforcement, media and public relations, and local and central government.
    Her athletic achievements as a Commonwealth Games shot put champion and captain of the New Zealand Athletics Team are paralleled by her years of service in the New Zealand Police, where she handled serious criminal investigations, including drug investigations and high-profile cases such as the Rainbow Warrior inquiry. She was on the frontline of the Springbok Tour and Bastion Point protests. 
    Beyond her police career, Glenda has made significant contributions in media as a consultant, journalist, and public relations expert who has trained New Zealand’s top athletes in media communications.
    She is the author of Looking for Trouble and has contributed to Last Man Standing by James Shepherd and Organized Deception: My Story by Sharon Armstrong, both focusing on the dangerous world of international drug trafficking.
    Her leadership roles include Independent Chairperson of the New Zealand Racing Board and the Racing Integrity Unit, a member of the New Zealand Parole Board, Trustee of KidsCan and Chair of Pet Refuge. These highlight her commitment to serving the community.
    Glenda’s academic background in sociology, criminology, and communications underscores her deep understanding of societal dynamics.
    Glenda values perseverance, integrity, compassion, and service. She credits her time in Police for her understanding of behaviours, motives, and options for handling various incidents. She believes Police offers a strong foundation for career development and the camaraderie fosters many lifelong friendships.

    ENDS

    Watch out for our Ten One story coming soon with more images and stories.

    If you’re interested in joining police check out newcops.govt.nz

    Issued by Police Media Centre

    MIL OSI New Zealand News

  • E-Commerce to drive India’s $1 trillion digital opportunity by 2030: report

    Source: Government of India

    Source: Government of India (4)

    India’s online commerce sector, which stood at $30 billion in 2020, is projected to grow tenfold to $300 billion by 2030, playing a pivotal role in shaping the country’s $1 trillion digital economy, according to a new report released on Thursday.
     
    The report by Bessemer Venture Partners highlights that online commerce is no longer a niche sector catering to a select few but has evolved into a dominant force within India’s retail ecosystem, serving an expanding and diverse consumer base.
     
    “India presents a $1 trillion digital opportunity. The emergence of multiple consumer marketplaces, platforms, and new-age brands over the past decade reflects the growing aspirations of a rising India. This makes us exceptionally optimistic about the potential for many more consumer-focused ventures to emerge,” said Anant Vidur Puri, Partner at Bessemer Venture Partners.
     
    According to the report, a “tailwind trifecta”—comprising rising internet penetration, evolving demographics, and supportive policy reforms—has laid the foundation for this growth. Going forward, the continued evolution of commerce marketplaces, content platforms, and consumer behavior will drive the next wave of innovation and opportunity.
     
    Quick Commerce: A New Retail Frontier
    India’s booming online commerce landscape has recently seen the rise of quick commerce (q-commerce), reshaping consumer expectations around delivery speed and convenience. Platforms like BigBasket, Blinkit, Swiggy, and Zepto are leading the charge, validating the demand for ultra-fast delivery models.
     
    The report also points to the emergence of verticalised q-commerce, with startups such as Snabbit, Swish, and Slikk targeting niche consumer needs, further diversifying the sector.
     
    D2C Brands and the Rise of Aspirational Consumers
    India’s direct-to-consumer (D2C) brands are increasingly serving a mass-premium audience—consumers seeking high-quality, affordably priced, and innovative products. These brands are capitalizing on rising demand for goods that align with modern lifestyles and preferences.
     
    Content, Microtransactions, and Monetisation Trends
    The report also underscores a “content revolution” in India, driven by growing demand for entertainment, education, and gaming content. With shorter attention spans and a wide range of accessible content across languages, genres, and price points, user engagement is surging.
     
    Short-form video platforms, in particular, have seen 3.6X growth in daily active users over the past five years, competing directly with mainstream digital platforms.
     
    Monetisation models are also shifting. The rise of UPI-based microtransactions, including virtual tipping and autopay subscriptions, is enabling new revenue streams for content platforms. This segment is expected to reach $1.5 billion by 2029, marking a significant shift from ad-based models to more diversified income strategies.
     
    Wellness and Health-Driven Consumption on the Rise
    Spending on organic food, protein supplements, fitness gadgets, preventive healthcare, and wellness services is on the rise. Health-focused food and beverage (F&B) consumption has increased from 11% to 16% of total F&B spending, with brands quickly adapting to this evolving demand, the report noted.
     
    —IANS
  • MIL-OSI: BPX Authorised to Operate UK Regulated Marketplace for Traditional and Tokenised Securities

    Source: GlobeNewswire (MIL-OSI)

    London, June 26, 2025 (GLOBE NEWSWIRE) — BPX is pleased to announce that it is authorised by the Financial Conduct Authority (FCA) to operate as a Multilateral Trading Facility (MTF), Alternative Investment Fund Manager (AIFM), Cryptoasset Exchange and Custodian Wallet Provider.

    With these institutional grade regulatory permissions in place, BPX is developing a fully integrated marketplace to support the entire lifecycle of a security. This includes issuance, trading and collateralised lending of traditional dematerialised and tokenised securities, alongside settlement and custody of tokenised securities.

    BPX is also the only FCA-authorised trading venue to have passed Gate 1 of the Bank of England and FCA’s Digital Securities Sandbox (DSS).

    BPX now enters its next phase: preparing for live operations and welcoming institutional participants to connect in anticipation of its first transaction.

    BPX’s mission is to enhance access and liquidity for Issuers and Investors in investment funds and digital assets. Its distributed ledger technology enabled platform enables efficient tokenisation at scale, broadening investment opportunities, unlocking new liquidity sources, and facilitating capital access.

    Dr. Robert Barnes, BPX Co-CEO, said: “Our vision is a marketplace of best practice, modernised for institutions, offering access through a single connection to a broader range of hard-to-access alternative assets, such as infrastructure and real estate investment funds, whether traditional or tokenised—available for issuance, trading, and use as collateral.”

    Ali Celiker, Co-CEO, added: “Our comprehensive regulatory permissions and integrated market infrastructure strongly position us to advance our mission: enhancing access and liquidity for issuers and investors, while leading the transformation of capital markets from legacy systems to tokenised workflows—firmly anchored in regulatory compliance and driven by innovation.”

    == ends ==

    Media Contact:

    Tina Kane
    tina.kane@therealizationgroup.com
    +44(0)7887947329

    About Us

    BPX is a regulated marketplace and infrastructure provider that aims to enhance access and liquidity for Issuers and Investors in Investment Funds and Digital Assets. Initial operations in the UK will focus on RWA-based funds, for example, real estate and money market funds, with expansion plans to other fund types and alternate investment products within a multi-jurisdiction UK and UAE offering.

    BPX is authorised by the UK Financial Conduct Authority (FCA) to operate as both a Multilateral Trading Facility (MTF) and an Alternative Investment Fund Manager (AIFM). In May, BPX was added to the UK’s Cryptoasset register, becoming only the third entity to receive approval in 2025, further strengthening its position at the intersection of the law, capital markets, and distributed ledger technology. Additionally, BPX has successfully passed Gate 1 of the Bank of England/FCA Digital Securities Sandbox (DSS) and is currently progressing its Gate 2 application. 

    Through this combination of permissions, BPX will optimise the end-to-end investment and securities lending lifecycle for Issuers and Investors.

    BPX is headquartered in London, with an entity established at the DIFC Innovation Hub in the UAE to support future expansion plans.

    Learn more: www.bpx.exchange

    Notes to Editors

    • 14 Jan 25 – Approved at Gate 1 of Bank of England/FCA Digital Securities Sandbox (DSS) –
      • The DSS was established to support the government’s objective of digitalising the UK’s financial market infrastructure. The DSS provides a regulated, live environment for exploring emerging technologies—particularly distributed ledger technology (DLT)—in the issuance, trading, and settlement of financial securities within the UK
    • FCA authorisations
      • 27 March 2025 – Multilateral Trading Facility (MTF)
      • 27 March 2025 – Alternative Investment Fund Manager (AIFM)
      • 29 May 2025 – Cryptoasset Exchange and Custodian Wallet Provider
    • Target audience:  Capital market participants such as;
      • Investment, Pension, hedge and mutual funds. sovereign wealth funds, wealth managers, private banks, insurance companies, family offices.
    • Legal-first, digital-first architecture, establishing standards in digital assets, innovating in cooperation with industry and regulators.
    • Single connection to fully integrated, hybrid marketplace for:
      • Traditional dematerialised and tokenised securities
      • Digital twinning of traditional securities, and digital-native securities
      • Exchange and OTC workflows for issuance, trading and securities lending
      • Execution to post-trade (e.g. notary, asset-servicing, settlement)
      • Interoperability with existing workflows.

    The MIL Network

  • MIL-OSI: Nasdaq and QCP Set New Standard of Capital Efficiency by Connecting Canton Network to Nasdaq Calypso

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 26, 2025 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today announced it has facilitated end-to-end margin and collateral workflows on the Canton Network, connecting the blockchain-based technology to Nasdaq Calypso. The use case was developed in partnership with QCP, Primrose Capital Management and Digital Asset, to demonstrate that the integration of on-chain capabilities alongside existing institutional workflows enhances collateral mobility across all asset classes for institutional market participants.

    Nasdaq Calypso is the leading technology platform used by financial institutions to seamlessly manage risk, margin, and collateral needs in an integrated environment. Its technology is uniquely positioned to serve the evolving demands of both traditional finance and emerging digital markets. Through the partnership on this use case, Nasdaq Calypso will expand its capabilities to support automated 24/7 margin and collateral management across a full spectrum of assets, including crypto derivatives, fixed income, exchange-traded derivatives, and over-the-counter derivatives.

    With this partnership, the companies are seeking to mature and scale the next generation of digital asset infrastructure. The use case represents a proof point that leveraging blockchain-based technology for collateral management allows financial institutions to meet the demands for real-time capital efficiency in an always-on financial ecosystem. It enables financial institutions to allocate capital more efficiently by mobilizing and redeploying previously locked up collateral across markets.

    Melvin Deng, CEO of QCP, said: “Partnering with a global technology leader like Nasdaq is a testament to our commitment to building the next generation of institutional-grade market infrastructure. This isn’t just a technological milestone, it’s a paradigm shift for capital efficiency. Automating collateral management on-chain allows us to offer our clients enhanced security, better pricing, and the ability to deploy capital 24/7 across both traditional and digital assets. QCP played a pivotal role in shaping the product design and market integration and will support Nasdaq on developing a new suite of OTC spot and derivatives products, setting a new standard for what’s possible in institutional digital assets.”

    Yuval Rooz, Co-Founder & CEO of Digital Asset, said: “This milestone with Nasdaq, QCP, and Primrose shows how Canton can meaningfully enhance institutional workflows. By automating margin and collateral processes on chain, firms gain real-time efficiency and control while maintaining data confidentiality through configurable privacy settings. It’s a major step toward harmonizing traditional and digital markets on a trusted, interoperable infrastructure.”

    Linus Ong, Chief Investment Officer, Primrose Capital Management, said: “Primrose operates at the intersection of quantitative trading and digital asset innovation. This integration empowers our fund to align our portfolio management and real-time risk management with institutional-grade on-chain infrastructure. It brings the discipline of quant finance to a 24/7 digital market.”

    Enhancing trust in the infrastructure and networks that underpin the digital asset ecosystem will also be critical to the long-term development of the asset class.

    Magnus Haglind, Head of Marketplace Technology, Nasdaq, said: “Capital market infrastructure and the emerging digital asset ecosystem are on the cusp of a generational shift as they converge with faster settlement and 24- hour trading, driving a new operational paradigm for market participants. Financial institutions need to improve real time risk management and mobilize collateral to optimize capital and liquidity deployment. We are excited to work with our clients to deliver improved capital efficiency through this innovative solution.”

    Through a comprehensive suite of digital asset products and services, Nasdaq is committed to supporting the evolution of the digital asset ecosystem by helping to drive resilience and integrity across the market.

    Nasdaq plans to advance its existing digital asset capabilities across its suite of capital market solutions, helping to drive institutional adoption of digital assets. Around the world, Nasdaq’s technology is used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,800+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Media Contacts: 

    Andrew Hughes; +44 (0)7443 100896; Andrew.Hughes@nasdaq.com  
    Camille Stafford; +1 (234) 934 9513; Camille.Stafford@nasdaq.com

    -NDAQG-

    Cautionary Note Regarding Forward-Looking Statements:  

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will”, “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s digital asset margin management technology. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.  

    The MIL Network

  • MIL-OSI: Tryg A/S – Q2 2025 pre-silent newsletter

    Source: GlobeNewswire (MIL-OSI)

    Tryg will conduct pre-close analyst calls and meetings starting on 26 June, ahead of the Q2 2025 results, which will be released on 11 July. This newsletter aims to inform capital market participants of the key factors influencing the company’s recent financial performance.

    Insurance revenue growth

    Tryg maintains a balanced distribution of insurance revenue across the Scandinavian countries, with approximately 50% of revenue generated in Denmark, 30% in Sweden, and 20% in Norway. In Q2 2024, Tryg reported insurance revenue of DKK 9,545m.

    The commercial segment will experience a smaller spillover effect into 2025 of the derisking of the corporate portfolio carried out in 2024. In general, the group revenue development remains in line with recent development. Tryg reported a growth measured in local currencies of 3.7% in Q1 2025.

    When converting earnings from local currencies to DKK, Tryg’s reporting currency, the expected average value of SEK 100 is DKK 68.5 (64.5 Q2 2024), and NOK 100 is DKK 64.5 (64.2 Q2 2024).

    Claims environment

    Underlying claims development
    Tryg operates a stable business and recent trends in underlying performance should thus be considered reliable indicators for short-term trends. The Group’s underlying claims ratio was 66.8% in Q2 2024. At the capital markets day (CMD) on 4 December 2024, Tryg mentioned that it expects a broadly stable to slightly improving underlying performance in the new strategy period towards 2027. In Q1 2025, the Group underlying claims ratio improved 30 basis points and the Private underlying claims ratio improved 10 basis points.

    Weather claims
    For Q2, normalised weather claims amount to 10% of the annual DKK 800m guidance, equating to DKK 80m. As a reminder, the annual expectation for weather claims is split as follows (in percentages terms): 40% in Q1, 10% in Q2, 20% in Q3 and 30% in Q4. At the time of writing, weather claims expectations for the quarter remain in line with the guidance for the second quarter of the year.

    Large claims
    On an annual basis, Tryg provides guidance for large claims amounting to DKK 800m, evenly distributed across quarters. Occasionally, information about large claims may be available in mass media or local press.

    Interest rates development
    For Q2, it is expected an approximate discount rate of 2.5%. The discounting percentage was reported at 2.3% in Q1 2025.

    Run-off expectations towards 2027
    At the 2024 CMD, Tryg stated a long-term run-off expectation of ~2% towards 2027.

    Investment activities

    Tryg has divided its investment activities into a match portfolio (approx. DKK 46bn at Q1 2025) and a free portfolio (approx. DKK 16bn as per Q1 2025). As announced at the 2024 CMD, the free portfolio was derisked during Q4 2024 and now mainly consists of Scandinavian covered bonds and government bonds (approx. DKK 12bn) and the real estate portfolio (approx. DKK 3bn). As a rule of thumb, the return on bonds can be modelled with the following Bloomberg tickers, 50% NYKRCMB2 and 50% NYKRCMG2. For the real estate portfolio, a normalised annual return of 6.5% is assumed. The buyback program of DKK 2bn started in December will impact the size of the free portfolio accordingly over the quarter.

    The return of the match portfolio mainly consists of the return on premium provisions, which is expected at DKK 75m per quarter with the current level of interest rates.

    Additionally, the line ‘Other financial income and expenses’ is guided at DKK -90m per quarter and mainly consists of costs related to currency hedges, general balance sheet items and costs related to running the investment operation.

    Other income and costs

    Other income and costs are originally guided between DKK -350m and DKK -370m on a quarterly basis. This is primarily driven by amortisation of intangibles related to the RSA Scandinavia acquisition. The intangibles are booked in SEK and converted to DKK (the reporting currency of Tryg). The SEK strengthening experienced this year (while positive for the insurance service result and thus the overall Group result) impacts this line negatively, and therefore an additional FX-related impact of approx. DKK 15m should be added to the original guidance.

    Number of shares

    At the end of Q1 2025, Tryg reported 607,059,826 outstanding shares. In the second quarter, Tryg bought back a total of 4,091,106 shares, thus lowering the number of outstanding shares during the quarter. The DKK 2bn share buyback programme ended on 19 June 2025.

    Outlook statement from annual report 2024

    Tryg reported an insurance service result, adjusted for the more favourable-than-normal large and weather claims outcome, of around DKK 7.2bn in 2024 and it is now targeting its highest ever insurance service result of DKK 8.0-8.4bn in 2027. The insurance service result is expected to increase gradually throughout the strategy period.

    As announced in the newsletter dated March 2025, please note that 2024 financials have been restated due to changed inflation hedging. The newsletter can be found here: https://tryg.com/en/downloads-2025

    Tryg will publish the Group’s Q2 results for 2025 on 11 July 2025 at around 7:30 CET.

    Conference call

    Tryg will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen, CTO Mikael Kärrsten and SVP Gianandrea Roberti will present the results in brief, followed by a Q&A session.

    The conference call will be held in English.

    Date 11 July 2025
    Time 10:00 CET
    Dial-in numbers +45 (DK) 78 76 84 90

    +44 (UK) 203 769 6819

    +1 (US) 646 787 0157

    Pin code       560768

    You can sign up for an e-mail reminder on tryg.com. The conference call will also be broadcast on this site. An on-demand version will be available shortly after the conference call has ended.

    All Q2 2025 material can be downloaded on tryg.com shortly after the time of release.

    Attachment

    The MIL Network

  • MIL-OSI Asia-Pac: 2nd digital asset statement issued

    Source: Hong Kong Information Services

    The Government today issued its “Policy Statement 2.0 on the Development of Digital Assets in Hong Kong”, reinforcing a commitment to establishing Hong Kong as a global hub for innovation in the digital asset field.

    The statement sets out a vision for a trusted and innovative digital asset ecosystem that prioritises risk management and investor protection, while delivering concrete benefits to the real economy and financial markets.

    It also introduces the “LEAP” framework, which focuses on four areas: legal and regulatory streamlining; expanding the suite of tokenised products; advancing use cases and cross-sectoral collaboration; and people and partnership development.

    In terms of legal and regulatory streamlining, the Government is establishing a comprehensive and unified regulatory framework for digital asset service providers. The Securities & Futures Commission (SFC) will oversee licensing regimes for digital asset-dealing service providers and digital asset custodianship service providers. Meanwhile, the Financial Services & the Treasury Bureau (FSTB) and the Monetary Authority will spearhead a comprehensive legal review to facilitate the tokenisation of real-world assets and financial instruments.

    To expand the suite of tokenised products, the Government will regularise the issuance of tokenised Government bonds. It will also promote the tokenisation of a broader range of assets and financial instruments, demonstrating the versatility of tokenisation technology across sectors such as precious metals, non-ferrous metals and renewable energy.

    On the advancement of use cases and cross-sectoral collaboration, the implementation of a licensing regime for stablecoin issuers on August 1 will facilitate the development of real-world use cases. The Government is also fostering collaboration among regulators, law enforcement agencies and technology providers to develop digital asset infrastructure.

    Regarding people and partnership development, the Government is strengthening talent development through partnerships with industry and academia, and is positioning Hong Kong as a centre of excellence for digital asset knowledge-sharing and international co-operation. It will build a sustainable talent pool through cultivating a new generation of entrepreneurs, researchers and technologists.

    Financial Secretary Paul Chan said the policy statement 2.0 sets out the Government’s vision for digital asset development and showcases the practical uses of tokenisation, with a view to boosting the diversification of use cases.

    “We strive to build a more flourishing digital asset ecosystem which will integrate the real economy with social life through a prudent regulatory regime and encouragement to market innovation, such that it will bring benefits to both the economy and society while consolidating Hong Kong’s leading position as an international financial centre.”

    Secretary for Financial Services & the Treasury Christopher Hui said: “The framework set out in the policy statement 2.0 helps us ‘LEAP’ towards a trusted, sustainable and deeply integrated DA (digital asset) ecosystem embedded within the real economy.

    “It also keeps Hong Kong at the forefront of digital transformation, offering a clear roadmap for businesses and investors to thrive in a secure and vibrant digital asset market.”

    The FSTB and the SFC will conduct public consultations on the licensing regimes for digital asset-dealing service providers and digital asset custodianship service providers.

    Click here for the full policy statement.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: NSU scientists create a “digital core” for oil companies

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    Novosibirsk State University is the lead organization of a consortium that won a 210 million ruble grant to develop digital core methods, an innovative tool that will help the Russian oil industry improve the efficiency of extracting hard-to-recover oil and gas reserves. The research will be conducted using the latest synchrotron, the Siberian Ring Photon Source (SKIF), located in the science city of Koltsovo.

    Modern oil production increasingly encounters so-called hard-to-recover reserves — oil hidden in geological formations with extremely low permeability. For such formations, it is especially important to understand all the features of oil flow during its production. The key role here is played by core research — samples of deep-layer rocks taken during well drilling. Two approaches are usually used: experimental (laboratory core research using special equipment) and mathematical modeling, during which a “digital twin” of the core is built. The basis of the digital core is detailed models that are built based on X-ray tomography data from real samples. The more accurate the X-ray research methods, the better the mathematical models can be built.

    The project, implemented within the framework of the won grant, will be a continuation of research in the field of digital core, which was launched within the framework of the Synchrotron Radiation for Oil and Gas Technologies consortium, the agreement on the creation of which was signed in August 2023 at the international forum of technological development “Technoprom”. In 2024, Skoltech joined the consortium. On the part of NSU, the preliminary work on this project was financed within the framework of the strategic project “Scientific Engineering” Priority 2030 programs.

    The key element of the project is the use of synchrotron radiation, a powerful source of X-rays that allows opaque objects to be “seen through” at high speed and in detail. Unlike conventional laboratory X-ray installations, the synchrotron produces a beam that is orders of magnitude more intense and focused. The SKIF Center for Collective Use, which is currently being prepared for launch, will become one of the most modern installations of its kind in the world.

    — SKIF makes it possible to observe microscopic processes inside the rock in real time. This is a real revolution in geological and oil research, — noted the director of the Gazpromneft-NSU Scientific and Educational Center, professor of the Russian Academy of Sciences Sergey Golovin.

    The NSU project is being implemented as part of a consortium of seven organizations, including Tomsk Polytechnic University, the Institute of Hydrodynamics SB RAS, the Institute of Geology and Mineralogy SB RAS, the SKIF Collective Use Center, and the KI Research Center. The project has three main areas: development of synchrotron core measurement methods, creation of specialized research cells, and an educational program. Continuing education courses, work with students, and even schoolchildren are planned.

    As a result of the project, new scientific methods will be developed, patents will be protected, articles will be published, and personnel for the high-tech oil industry will be trained. But most importantly, a real tool will appear that can accelerate the implementation of new approaches to oil production in difficult conditions.

    Work on the “digital core” is scheduled to take three years. Funding was provided by the Ministry of Science and Higher Education of the Russian Federation as part of the federal program for the development of synchrotron and neutron research.

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

    MIL OSI Russia News

  • MIL-OSI Australia: Interview – Sky News with Kieran Gilbert

    Source: Murray Darling Basin Authority

    KIERAN GILBERT: Let’s turn our attention to education. And the nation’s education ministers will hold their first gathering tomorrow since the Federal Election, that is. I want to go live to Adelaide. The Education Minister, Jason Clare, joins me.

    A big part of the lead-up to the election. I know that you and the Prime Minister were focusing on the deals done with the states on education funding arrangements, those Gonski reforms, as they’re known. But you’ve said you want it tied to reform, what sort of thing are you talking about on that?

    JASON CLARE, MINISTER FOR EDUCATION: Yeah, it’s important to make the point, this isn’t a blank cheque. The agreement that we’ve struck with every State and Territory over the course of the last 12 months represents the biggest extra investment by the Australian Government in our public schools ever. Something like an extra $16.5 dollars billion invested in our public schools over the next decade to finish the work that David Gonski started. But, I’ve been at pains to make the point that it’s not a blank cheque, that we want to tie this funding to real practical reforms, really to make sure that more kids finish high school. 

    Over the last decade, we’ve seen a drop in the number of kids finishing high school, particularly in public schools, from about 83 per cent down to 73 per cent, and we need to turn that around. And that requires reform not just at high school, but at primary school. One of the things we want to do is roll out a phonics check or a literacy check for kids in Year One, and that’s already underway, a lot of states are doing it this year, the others will roll it out from next year and that’s a 10 or a 15 minute check. It’s not a test, it’s not like NAPLAN, but it’s a tool for teachers to help, to make sure that they know where the children in their classroom are at and whether they need more support. And the next cab off the rank is a numeracy check, a similar sort of check, a tool for teachers to make sure that children are up to speed, where they need to be in Year One when it comes to numeracy adding up and counting. 

    Now, New South Wales have rolled out a pilot this year for about 169 schools of a check they’ve developed and they’ll roll that out across all public schools next year. We’re going to have a chat tomorrow about whether other states might be willing to pick that up as well next year.

    GILBERT: One of the other things I know that’s been out and I’m very interested, I think a lot of parents will be very keenly awaiting this bullying review. Give us an update on where that’s at. Will that be before the ministers tomorrow? Because, as you well know, this is something that everyone’s ultra sensitive about, particularly when you’re talking about social media these days and all the risks inherent with that.

    CLARE: I think that’s the big difference between what bullying was like when we were kids at school and what it’s like now. Bullying is cruel. It doesn’t just leave physical scars, it can leave invisible scars that can last a lifetime. And we’re not just talking now about push and shove in the playground or stealing someone else’s lunch money. At its most insidious, we’re talking about people using AI and deepfakes where they might take a photograph of a friend at school or someone at school, cut and paste their face and put it on the naked body of someone else and then splash that across the internet. And the impact of that can be extraordinarily harmful. We’ve seen recent examples of this applied to fellow students, but also to teachers and this review about what we do to tackle bullying in our schools needs to look at that as well as what happens actually in the school grounds. We’re never going to stamp it out entirely, but what this is about is making sure that where we can prevent it, we do. And what are the right responses for schools where there’s evidence of this sort of bullying happening.

    GILBERT: And on the issue of childcare centres, there have been reports recently about the mistreatment of children in care. I know that personal phones, for example, have been banned from childcare centres. What other reforms would you look at now off the back of this New South Wales response, led by New South Wales? But are you wanting to make it national and what other things you’re putting in place to ensure kids in childcare are receiving the protection they need as well?

    CLARE: Yeah, this is really serious. There’s more than a million families who’ve got their kids in childcare and early education at the moment. And the number one priority is to make sure that their children are safe. This is personal for me. I’m one of those parents who have my children in early education and care.

    In response to the arrest of that serial paedophile in Queensland a couple of years ago, we introduced some significant changes, including the banning of personal phones in childcare centres and beefing up, toughening up mandatory reporting, making that a requirement within 24 hours of where a serious event has occurred. But Four Corners had a report earlier this year which exposed some pretty terrifying and horrific examples of abuse in centres. In response to that, we announced that we’ll introduce legislation into the Federal Parliament that’s designed specifically to basically pull the money away from centres that aren’t up to quality standards or stop them from expanding, but also stop some of the bad actors that might be failing kids in childcare from then moving to another part of the care economy like the NDIS.

    And when that Four Corners report came out, two more things happened; the national regulator was asked to provide us with advice on what further steps we need to take. And NSW commissioned their own review by a former Deputy Ombudsman of NSW, Chris Wheeler. He delivered his report that was released today that sets out a number of things that we could do better, including more information for parents and beefing up penalties. And Chris Wheeler, as well as the national regulator, Gabrielle Sinclair, will brief ministers on their reports tomorrow so that we can build a roadmap for further steps and more reform to make sure that we keep our kids safe in early education and care.

    GILBERT: Yeah, indeed. And I know they’re a minority, but yeah, just ensure the dodgy operators do receive the appropriate penalties. Well, that’s good that that is a focus of that report. 

    I do want to conclude though, on tertiary education, there’s been a big focus on the salaries of Vice-Chancellors and suggestions that you might end up putting it in the hands of the remuneration tribunal as opposed to leave it up to university boards. What’s your thinking on that? Are you open to that?

    CLARE: This is one of the things I’ve asked an expert council on university governance to look at. They’re going to report to education ministers when we meet in October in a couple of months’ time. On its face, it makes sense to me when you think about it when it comes to politicians or judges or public servants, the remuneration tribunal plays a role in setting salaries there. So, it is the sort of thing that does make sense on its face. But we’ll wait to see what this expert panel recommends. We’ve asked them to look at that, as well as wage theft in our universities and ways to improve governance of our universities, full stop. You know, our universities do terrific work and this is all about setting them up..

    GILBERT: But it’s a way to ensure Vice-Chancellors pay doesn’t get out of hand.

    CLARE: I think that’s right. It’s about meeting community expectations. But it’s just one part of improving the governance of our universities and to be fair to the leaders of our universities I think they get that, and they’re leaning into this reform to make sure that we’re setting our universities up for the future.

    We’ve got data that we released yesterday that showed some good news that there are more Aussie students starting a degree at university this year than ever before when you take out those two COVID years, which are a bit of an anomaly. We think that we’re going to need more people in the years ahead to finish school and go to TAFE or go to university. So, more people going to university means universities are going to be even more important in the years ahead than they are today, and we’ve got to make sure that they’re fit for the future.

    GILBERT: Education Minister Jason Clare, thanks for making the time ahead of that important roundtable tomorrow with your colleagues. Appreciate it.

    CLARE: No worries. Thank you.
     

    MIL OSI News

  • MIL-OSI Russia: The exhibition “Science in Faces” at VDNKh will tell about young Russian scientists

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    The exhibition “Science in Faces” opened on the Central Alley of VDNKh opposite Pavilion No. 19 “Atom”. This is a gallery of portraits of 23 young scientists from 14 regions of the country. Among them are laureates of the Russian Presidential Prize in Science and Innovation for Young Scientists and other key scientific awards, participants in meetings with the President on the sidelines of the Congress of Young Scientists, winners of competitions of the Russian Science Foundation, employees of leading Russian scientific organizations.

    Among the heroes of the exhibition are nine residents of Moscow and the Moscow region. These are the laureates of the Moscow Government Prize for Young Scientists for 2024 Inessa Lugovaya, Maxim Makarov and Sofya Morozova, as well as researchers in the fields of chemistry, physics, genetics, information technology and others.

    As part of the project, the scientists who became the heroes of the exhibition will hold lectures for VDNKh visitors in July. They will be held in the Cosmonautics and Aviation Center and the Biotech Museum.

    The Moscow Government Prizes for Young Scientists are awarded annually to employees of Moscow scientific organizations for achieving outstanding results in fundamental and applied scientific research in the field of natural, technical and humanitarian sciences and for the development and implementation of new technologies, equipment, devices, equipment, materials and substances that contribute to improving the efficiency of work in the real sector of the economy and the social sphere of the city of Moscow. Awards are presented, among other things, in mathematics, mechanics and computer science, chemistry, biotechnology and other areas. There are 50 of them in total – you can receive the award individually or as part of a team of up to three people. You can apply for the 2025 nomination until July 18 on the portal science.mos.ru.

    The exhibition “Science in Faces” will run until July 31. It is held with the grant support of the Ministry of Science and Higher Education of the Russian Federation as part of the Decade of Science and Technology, announced by the President of the Russian Federation Vladimir Putin, and is part of the “Science Nearby” initiative.

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

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

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

    https: //vv.mos.ru/nevs/ite/155835073/

    MIL OSI Russia News

  • MIL-OSI Australia: Income from leasing of real property

    Source: New places to play in Gungahlin

    Item

    Activity

    Responsibility

    Purpose

    4

    Repairs and maintenance (R&M)

    Receipts to be retained and maintained (by property) for all R&M expenditure. Where repairs are managed through the property manager, receipts to be furnished, downloaded and stored.

    R&M expenditure will be recorded in the Excel spreadsheet entitled ‘Rental property financial accounts” and be referenced to the relevant property, within 3 days of payment of the invoice. Accumulated totals should be maintained within the spreadsheet.

    Bill Bookkeeper

    Ensure records of Mr Simple’s investments in real property are not lost in the event primary information sources are compromised.

    5

    Interest expense

    Documentation regarding any external financing obtained to acquire or improve real property assets is to be retained. Documentation should include points explaining:

    • the date the finance was obtained
    • the purpose of obtaining finance
    • how the finance was applied, and
    • the applicable interest rate or other terms upon which the finance was obtained.

    Interest expenses are recorded in the Excel spreadsheet entitled ‘Rental property financial accounts’. Accumulated totals should be maintained within the spreadsheet.

    Bill Bookkeeper as informed by Simple groups lawyers or tax agents

    Support the John Simple property trust’s claim for interest deductions that are associated with the debt funding of its property portfolio (where and when required).

    6a

    Depreciation (Division 40)

    On initial acquisition of real property, a tax depreciation schedule will be obtained from a qualified valuer or quantity surveyor.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    To help ensure that the John Simple property trust is using the correct tax cost bases when determining the amount it can claim as capital allowance

    6b

    The costs of existing and new depreciable assets held by the John Simple Property Trust are to be recorded on an Excel spreadsheet entitled ‘tax fixed asset register’ that includes:

    • a description of the asset
    • the date asset was ready for use
    • a calculation of the assets tax cost
    • the method and rate of depreciation applied to the asset
    • the capital allowance claim for the year
    • the assets closing cost.

    For purpose of calculating depreciation, use the Commissioner’s effective lives for depreciating assets guidance as published each year in the ATO’s Taxation Ruling.

    For all new depreciable capital assets that are acquired, receipts are to be maintained and referenced against the tax fixed asset register (including low value pools).

    Bill Bookkeeper and Simple group’s tax agents/advisors

    To support the John Simple property trust’s claim for capital allowance deductions in the year of income in which the claim is made.

    6c

    Where depreciable assets are disposed of, the tax fixed asset register will record:

    • the date of the disposal
    • sale price
    • the balancing income/loss recognised on disposal.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    To help ensure that gains or losses on disposal of depreciable capital assets by the John Simple property trust are calculated correctly for tax purposes.

    7a

    Capital works (Division 43)

    Upon acquisition of an existing real property asset that’s not vacant land, a determination will be made about the percentage rate at which capital works deductions can be claimed.

    On initial acquisition of an existing real property, a tax depreciation or capital works schedule will be obtained from the property’s previous owners or obtained from a qualified quantity surveyor.

    Upon incurring new expenditure on capital works, a determination will be made about the percentage rate at which capital works deductions can be claimed.

    Note: Generally, the Simple group acquires assets for which the 2.5% rate is applied.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    Ensure that the John Simple property trust’s is eligible to claim capital works deductions in respect to a particular property, the cost base by reference to which capital works deductions can be claimed and the percentage to be used when claiming capital works deductions each year.

    7b

    For new capital works, receipts should be retained and referenced against the tax fixed asset register.

    Details of new capital works are recorded on an Excel spreadsheet entitled ‘tax fixed asset register’ that includes a

    • description of the capital works
    • date the capital works were completed
    • cost of the capital works
    • percentage deduction rate applied (for example 2.5%)
    • deduction claimed for the year
    • closing balance of unclaimed construction expenditure at year end.

    Any complex issues concerning the application of, or calculations required by Division 43, should be escalated to the Simple group’s tax advisors.

    Bill Bookkeeper and Simple group’s tax agents/advisors

    Substantiate capital works deductions for the year. Help ensure compliance with the Simple group’s record keeping obligations.

    Support the John Simple property trust’s claim for capital works deductions.

    Accessing sophisticated levels of advice helps ensure complex issues with capital works claims are treated correctly.

    8

    Other expenses

    A list has been (or should be) prepared and retained that outline and explains typical expenses incurred by the John Simple property trust in the course of its property leasing activities.

    Accounting expenses should be recorded (by property) in the Excel spreadsheet entitled ‘Rental property financial accounts for the year ended 30 June 20XX’, within 3 days of the supplier invoice being received. Accumulated totals should be maintained within the spreadsheet.

    Bill Bookkeeper

    Ensuring typical expenses associated with each property portfolio are understood and explained – for succession planning.

    Support John Simple property trust’s claims for allowable deductions.

    9

    Prepaid expenses

    Where eligible expenditure has been prepaid, maintain records of prepayments. Prepare an accompanying note that explains the nature of the prepaid expenditure and relevant time period to which the expenditure relates (more or less than 12 months).

    Bill Bookkeeper

    Help with preparation of the John Simple property trust’s draft tax reconciliation.

    Support John Simple property trust’s claims for allowable deductions.

    10

    Before forwarding information to the Simple group’s tax agent, review the following spreadsheets and resources against a sample of documentation to sense check that income and expenses have been captured and correctly recorded.

    • Real Property Investment Register
    • List of typical expenses
    • Tax and accounting fixed asset register

    Bill Bookkeeper

    Helping ensure that Mr Simple’s income and expense disclosures are complete.

    11

    At least 4 weeks before the due date for lodgment of the John Simple property trust’s tax return, provide the Simple group’s tax agent with:

    • a summary narrative about the John Simple property trusts typical and atypical activities during the year
    • real property investment register
    • the property manager’s end of financial year summary statement for each property investment
    • excel rental property financial accounts
    • tax and accounting fixed asset registers
    • related source documents as required by the tax agent
    • notes concerning any prepaid expenses.

    Bill Bookkeeper

    Ensuring the John Simple property trust’s tax return is lodged on time.

    Helping the tax agent with the process of preparing the John Simple property trust’s tax return.

    MIL OSI News

  • Indian stock market opens higher, all eyes on US reciprocal tariff deadline

    Source: Government of India

    Source: Government of India (4)

    The domestic benchmark indices opened higher on Thursday amid mixed global cues, as buying was seen in the metal, auto, and financial services sectors in early trade.

    At around 9:26 a.m., the Sensex was trading 239.27 points, or 0.29 per cent, higher at 82,994.78, while the Nifty added 84.20 points, or 0.33 per cent, to reach 25,328.95.

    According to analysts, with a ceasefire between Israel and Iran, global markets are in risk-on mode. However, since the reciprocal tariff issue remains unresolved, a sustained rally may be difficult.

    Nifty Bank was up 41.50 points, or 0.07 per cent, at 56,662.65 in early trade. The Nifty Midcap 100 index was trading at 58,993.20 after gaining 111.50 points, or 0.19 per cent. The Nifty Smallcap 100 index stood at 18,785.05, up 57.20 points, or 0.31 per cent.

    Technically, the price action also traced an inside day, indicating that the possibility of a large, single-day trending move is rising, experts said.

    Meanwhile, in the Sensex pack, BEL, Eternal, Tata Motors, PowerGrid, Maruti Suzuki, Tata Steel, L&T, Bajaj Finserv, Bharti Airtel, and Titan were the top gainers. On the other hand, Tech Mahindra, Kotak Mahindra Bank, Trent, and ICICI Bank were among the top losers.

    Foreign institutional investors (FIIs) were net sellers on June 25, offloading equities worth ₹2,427.74 crore. Meanwhile, domestic institutional investors (DIIs) remained buyers, purchasing equities worth ₹2,372.96 crore.

    In the Asian markets, Japan, China, Bangkok, and Jakarta were trading in the green, whereas Seoul and Hong Kong were in the red.

    In the previous trading session, the Dow Jones in the US closed at 42,982.43, down 106.59 points, or 0.25 per cent. The S&P 500 ended with a slight loss of 0.02 points at 6,092.16, while the Nasdaq closed at 19,973.55, up 61.02 points, or 0.31 per cent.

    —IANS

  • MIL-OSI United Nations: Secretary-General’s message on the International Day against Drug Abuse and Illicit Trafficking [scroll down for French version]

    Source: United Nations secretary general

    The global illicit drug trade continues to exact a devastating toll: claiming lives, ravaging public health services, and fueling violence and organized crime.

    Drug trafficking is tearing through communities with substances that are more potent, more dangerous, and more deadly than ever. Meanwhile, criminal networks prey on the most vulnerable – particularly women and youth – as they rake in hundreds of billions annually through the illicit drug trade.

    This year, we shine a light on prevention as the most essential strategy for halting the flow of drugs that fuels organized crime worldwide.

    We must reduce demand through investing in education, treatment, harm-reduction measures and care; target the machinery of production by eliminating illicit laboratories and offering farmers viable alternatives; and sever trafficking networks by strengthening global trade routes and choking the financial flows of criminal networks, while always ensuring respect for human rights.

    Let us recommit to ending drug abuse and trafficking, uniting to dismantle criminal networks, and breaking the cycle of suffering and destruction once and for all.

    ***

    Le commerce mondial de drogues illicites continue d’avoir des effets ravageurs, causant des décès, dévastant les services de santé publique et alimentant la violence et la criminalité organisée.

    Les populations sont très durement touchées, par des substances qui sont plus puissantes, plus dangereuses et plus mortelles que jamais. Parallèlement, les réseaux criminels jettent leur dévolu sur les plus vulnérables – en particulier les femmes et les jeunes – et engrangent des centaines de milliards par an grâce au trafic de drogues.

    Cette année, nous mettons l’accent sur la prévention, car c’est la principale stratégie à adopter pour enrayer les flux de drogue qui entretiennent la criminalité organisée dans le monde entier.

    Nous devons réduire la demande en investissant dans l’éducation, les traitements, les mesures de réduction des risques et les soins, cibler les mécanismes de production en éliminant les laboratoires illicites et en offrant aux agriculteurs des alternatives viables, et couper à la racine les réseaux de trafiquants en renforçant les itinéraires commerciaux mondiaux et en bloquant les flux financiers issus de la criminalité, tout en garantissant toujours le respect des droits humains.

    Engageons-nous de nouveau à mettre fin à l’abus et au trafic de drogues, à nous unir pour démanteler les réseaux criminels et à briser une fois pour toutes le cycle de la souffrance et de la destruction.

    ***
     

    MIL OSI United Nations News

  • MIL-OSI USA: Kustoff Honors Frederick W. Smith, Founder of FedEx, on House Floor

    Source: United States House of Representatives – Representative David Kustoff (TN-08)

    WASHINGTON, D.C. — Today, Congressman David Kustoff (R-TN) honored the founder, chairman, and CEO of FedEx Corporation, Frederick W. Smith, on the Floor of the House of Representatives. 
     

    Click here for a downloadable link to his speech.

    Remarks as prepared:

    Mr. Speaker, I rise today to honor the life and legacy of Frederick W. Smith. Who left us this past Saturday, June 21, 2025, at the age of 80. 
     
    Mr. Speaker, if I were to stand and speak at this podium all day, I would barely be able to scratch the surface of Fred Smith’s extraordinary life, his influence on the country and the world, and his profound impact on the City of Memphis. 
     
    To many people, Fred Smith will likely be remembered as a titan of industry and the founder of FedEx. To my constituents, he will be remembered as a champion for the City of Memphis. Personally, I will remember Fred Smith as a man who loved his country and devoted his life to the American dream. 
     
    Born in Marks, Mississippi and raised in Memphis, he was very proud of his country. Fred Smith was a true patriot – serving honorably as a Captain in the United States Marine Corps in Vietnam. After that service, he returned home with a bold idea – a company that could deliver packages overnight around the world. Fred Smith turned that idea into a global enterprise: revolutionizing international supply chains, transforming how businesses operate, and changing how people connect. 
     
    Fred Smith not only directed and dominated the modern logistics industry, he created it. For more than 50 years after the conception of FedEx, he continued to lead it. 
     
    Today, FedEx operates in over 220 countries, but its heart and headquarters remain in Memphis, Tennessee. Through FedEx, Fred Smith turned Memphis into a global logistics hub – driving economic growth across the region, while employing tens of thousands of Tennesseans. Today, the FedEx world hub at Memphis International Airport is one of the busiest and largest cargo airports in the world. FedEx is the largest Fortune 500 company in the state of Tennessee. 
     
    Fred Smith’s commitment to Memphis went far beyond business. In fact, upon Fred’s passing on Saturday, former Memphis Mayor Jim Strickland said, “Fred Smith was the most significant Memphian in history. He gave them a fair shot at their American dream and his philanthropic work helped support countless organizations”. 
     
    Thanks to Fred Smith, Memphis acquired the NBA’s Grizzlies in 2001 when he committed to purchasing the naming rights for the future home of the basketball team: the FedExForum. Two years ago, when the University of Memphis was ambitiously pursuing stadium upgrades for the football team, Fred Smith and his family committed $50 million to help the school achieve its financial goals. 
     
    Fred and Dianne Smith, and the Smith family, have donated to so many worthwhile causes in the Memphis area, including the world-class Memphis Zoo. Memphians can also thank Fred Smith for saving the FedEx St. Jude Golf Championship when it lost its previous title sponsor. 
     
    Yesterday, when discussing the life of Fred Smith, I talked with my good friend, Chris Richards. She was the General Counsel at FedEx and a close advisor to Fred Smith. A little over 25 years ago, Fred came to Chris with an idea he told her she would not like. He wanted FedEx to be involved in a major motion picture in which the plot involved crashing a FedEx plane. Fred thought that the script for “Cast Away” was a great read and could be a good movie that benefited the company.
     
    As FedEx’s lead attorney, Chris told Fred there had never been an airline who willingly participated in a movie where they gave permission to crash their plane. Chris advised against all of it, but Fred wanted to think outside the box. He signed off on the idea. He was really impressed with the production staff and the movie star, Tom Hanks. That would be important years later. 
     
    At the request of former Senator Bob Dole, Fred became involved in the creation and fundraising of a World War II memorial to honor and remember our nation’s Greatest Generation. Fred would become a major factor in getting that memorial constructed. It would cost a lot of money to raise and build such a monument, but as a result of that movie, Fred turned to his friend, Tom Hanks, for his help and public support to help raise funds for the memorial. Indeed, that movie ended up being good for FedEx, and in turn, good for the World War II memorial and our nation. 
     
    With his passing, we honor and celebrate a lifetime of inspiring service and leadership. 
     
    We celebrate a Marine, a Memphian, and a really good man.
     
    To Dianne and the entire Smith family, Roberta and I mourn with you. 
     
    To our nation, we lost an innovator, a job creator, a trailblazer, and a leader. 
     
    We are all better off for the remarkable life that he led. 
     
    With that, Mr. Speaker, I yield back.
     

    ###

    MIL OSI USA News

  • MIL-OSI Russia: Moscow — a city of youth: how the capital supports young entrepreneurs

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Moscow is a city of youth. In the capital, all areas for a comfortable and productive life are regularly developing – from education and career to leisure and self-realization. According to the Federal Tax Service andDepartment of Entrepreneurship and Innovative Development of the City of Moscow, more than a quarter of individual entrepreneurs (IE) in the capital are young people under 35. Among company managers, their share is about 17 percent.

    Youth entrepreneurship is becoming an important part of the Moscow economy. Business representatives under 35 are increasingly developing their businesses, using the capital’s support measures to achieve this goal. They receive active assistance from the city at the start and a real opportunity to turn their enterprise into a successful company.

    Support by surety

    One of the most popular instruments remains surety Moscow Guarantee FundThey significantly simplify access to the necessary financing and make it possible to obtain it even without sufficient collateral, especially in such capital-intensive areas as manufacturing and construction.

    In the first five months of 2025, for companies managed by executives under 35, the volume of financing attracted under the fund’s guarantee amounted to 1.3 billion rubles. This is 32 percent more than in the same period of 2024. Then the amount reached 983 million rubles. The data indicate an increase in trust in support tools and the active participation of young entrepreneurs in the development of Moscow business.

    The majority of the funds raised were directed towards the development of production projects – 43 percent of the total volume. Another 22 percent went to the trade sector, 12 percent to construction, and the remaining 23 percent was distributed among companies in other industries.

    Young Entrepreneurs: Success Stories

    Anton Ivanov, the founder of a Moscow company that produces sportswear under its own brand, has used the support of the Moscow Guarantee Fund twice. This allowed him to increase turnover and expand production. In two years, the company’s revenue has grown almost fourfold – from 66 to 289 million rubles.

    Another striking example is a company that produces nut butters and bars under its own trademarks. Since 2022, entrepreneur Yuliana Nikolaeva has regularly received support from the Moscow Guarantee Fund to attract the necessary financing, which has allowed the business to grow fourfold – without interrupting production or reducing product quality.

    The city provides young entrepreneurs not only with financial but also non-financial assistance. Thus, 14-year-old Lyudmila Sukhova, the owner of a playroom in one of the capital’s shopping centers, received support. Her interest in working with children was supported by her parents, who in the fall of 2024 helped her acquire a business and obtain the status of an individual entrepreneur. Specialists of the State Budgetary Institution “Small Business of Moscow” (MBM) consulted Lyudmila. They told her about tax regimes, reporting and existing support measures, and also helped her obtain the status of a social entrepreneur. Now the playroom is regularly visited by an average of 25 children or more every week.

    Andrey Archakov is an 18-year-old general director of a film company, a screenwriter and a director. Having started with dubbing at the age of 11, he has already shot two historical short films and registered an individual entrepreneurship to work on a full-length film. MBM specialists helped him with registration, documents and choosing a tax regime. Andrey is currently studying at the All-Russian State Institute of Cinematography named after S.A. Gerasimov and is working on a new film and a project based on a book by Sergei Lukyanenko.

    “Made in Moscow” as an opportunity to make a name for yourself

    The Made in Moscow project also provides free support to young entrepreneurs. Entrepreneurs can participate in industry exhibitions and large-scale city projects, such as “Summer in Moscow” and “Winter in Moscow”. And also to receive information support through special projects in the media and social networks. This allows them to place their products on the shelves of art pavilions and tell a wide audience about themselves in the media.

    The brand of high-tech clothing by 20-year-old Andrey Kolosov has become one of the examples of successful business development with the help of the Made in Moscow project. Andrey created the first batch of brand T-shirts with a grant of 50 thousand rubles, and then began to increase production capacity. Now his products can be purchased at the Green Market pavilion on Bolotnaya Square. The entrepreneur regularly participates in city events and demonstrates consistently high sales. The company’s income has grown from 50 thousand rubles in 2022 to three million rubles in 2024.

    In addition, in the “Green Market” and in the art pavilion “Bus of Beauty” you can find products of the brand, whose founder is 25-year-old Daria Yakovleva. The entrepreneur creates stylish accessories from velvet – cosmetic bags, folders for laptops and convenient shoppers. Thanks to the “Made in Moscow” project, the brand has already reached a new audience, increased recognition and increased revenue by 1.5 times.

    17-year-old businessman Dmitry Kalinin creates unique, hand-painted T-shirts. His brand’s products are distinguished by an exclusive pattern on each item. In the summer of 2024, his income reached 200 thousand rubles, which significantly exceeded the previous figure of 60 thousand rubles. In winter, the brand’s products could be found as part of the Winter in Moscow project at the Magic Market site on Bolotnaya Square.

    City of Opportunities

    Moscow is a city of youth. The capital offers wide opportunities for its development, creative self-expression, comfortable life and interesting leisure. The city has created the appropriate infrastructure, thousands of events of different scale and focus are held.

    In honor of Youth Day, themed events will be held at more than 250 city venues. As Sergei Sobyanin reported earlier, the flagship event will be festival, which will take place on June 28 and 29 at Bolotnaya Square. You can find more detailed information and a map with all city events on the portal “Youth of Moscow”.

    More information about opportunities for young residents of the capital can be found on the portal “Youth of Moscow” and its pages in social networks.

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

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

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

    https: //vv.mos.ru/nevs/ite/155821073/

    MIL OSI Russia News

  • MIL-OSI Russia: Entrepreneurs help SVO fighters as part of the Summer in Moscow project

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    In the shopping malls on the site of the large-scale city project “Summer in Moscow” on Tverskaya Square, you can buy unusual interior items – hand-made chests and caskets, vintage comics, jewelry and antique cutlery, and then treat yourself to delicious donuts.

    All participants, displaying their goods and treats on the shelves, have one thing in common: they help special military operation (SMO) fighters.

    Together with other vintage collectors, businessman Sergey is part of a volunteer group. For two years now, they have been helping the Valuysky Central District Hospital in the Belgorod Region, Kherson hospitals, doctors of the 810th Marine Brigade, the 25th Guards Separate Motorized Rifle Brigade, the 3rd Motorized Rifle Division, and other units.

    The items collected by caring like-minded people included radios and monitors, medicines, medical products and bandages, as well as funds transferred to purchase everything necessary. The team’s ideological inspirer Marina directly contacts the fighters and doctors. She also deals with issues of storage and transportation of humanitarian parcels.

    In the shopping chalet No. 7, Sergey has put vintage and antique jewelry on the shelves, as well as tableware: teapots, samovars, forks, spoons, plates, dishes and much more, and has also put out foreign comics from the last century. However, he expects visitors not only to shop.

    “Anyone who wishes can, in addition to money, bring boots, socks, bed linen and underwear to our trading house for the soldiers who are currently undergoing treatment in hospitals. It is important that the items are new, in packaging and with price tags – this is necessary to comply with sanitary standards, which must be followed for the speedy recovery of servicemen. I will definitely pass on all this and give feedback,” the entrepreneur shared.

    Chests and sweets

    The owner of the chest workshop, Sergey, not only produces unusual furniture that will decorate any interior and give it a truly Russian flavor, but also regularly sends funds to the needs of military personnel.

    According to the businessman, the first time he and his comrades financially helped the fighters was at the beginning of last autumn. After that, they continued to transfer the necessary amounts to the official account of the charity fund.

    Maxim, a representative of the donut company that you can try right now at the Moscow Seasons site on Tverskaya Square, said that he and his colleagues began providing comprehensive assistance this year.

    The entrepreneurs launched their own production in the city of Zhukov (Kaluga Region). The local administration helped them cooperate with other business owners, and now together they are preparing huge loads for shipment to the front and to new regions of Russia.

    “For the last two orders, we bought wheels for KamAZ vehicles, and delivered repair parts, hinges and door handles to Mariupol. We buy humanitarian aid, each one their own part, so that we get a whole truck, and then we deliver everything to the fighters,” said Maxim.

    He added that the business expanded thanks to participation in city festivals — the team started by selling donuts in shopping chalets. Now the sweets can be found in grocery chains, but the entrepreneurs continue to delight guests of the Moscow Seasons venues with donuts.

    Many of the participants of Moscow festivals not only collect humanitarian aid from the first days of the SVO, but also independently deliver cargo to the front, and also help volunteer organizations. In addition, entrepreneurs give military personnel and residents of new regions products of their own manufacture (canned goods, warm clothes, toys, etc.).

    More information about the activities of the capital’s Department of Trade and Services is available in the official telegram channel.

    Project “Summer in Moscow”— the main event of the season. It brings together the most vibrant events of the capital. Every day, charity, cultural and sports events are held in all districts of the city, most of which are free. “Summer in Moscow” is being held for the second time, and the new season will be more eventful: new, original and colorful festivals and events will be added to the traditional ones.

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

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

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

    https: //vv.mos.ru/nevs/ite/155856073/

    MIL OSI Russia News

  • MIL-OSI New Zealand: Education – Te Pūkenga 2024 Annual Report shows $122 million turnaround in two years

    Source: Te Pukenga

    Te Pūkenga – New Zealand Institute of Skills and Technology (NZIST) has released its 2024 Annual Report, showing a $122 million turnaround within the two years it has existed as a single entity, and the first surplus for the organisation.
    The report shows a surplus of $16.6 million at the end of 2024, a $54.5 million (144%) improvement on the 2023 deficit of $37.9 million, and a $121.7 million (116%) improvement on the 2022 deficit of $105 million.
    Revenue has grown $68.4 million (5%) compared to 2023, and $188 million (15%) compared to 2022. Te Pūkenga Chief Executive Gus Gilmore acknowledged the hard work of staff (kaimahi) in achieving the results amid a tough economic climate as well as uncertainty for the institute.
    “Against a background of immense change and uncertainty, Te Pūkenga had a strong year. With 226,645 learners, including 90,919 trainees and apprentices, outcomes continued to improve, with course completion, including 10,828 trainees and apprentices completing their programmes and 45,146 graduating. We also had strong domestic and international enrolments for our Institutes of Technology and Polytechnic (ITP) divisions and increased our net promoter score.
    “The financial result, showing a 144% improvement on the previous year, is the outcome of focusing on addressing financial performance through an intensive cost savings exercise across all divisions, structural changes, vacancy management, lease reduction, property sales and programme rationalisation,” said Mr Gilmore.
    Ākonga satisfaction increased to over 93% following a strong focus on improving learner support. For example, a partnership with Health New Zealand, with an investment of $4.1 million, saw more than 12,500 learners access mental health services – a 71% increase from 2023. Course completion rates across all priority groups – Māori, Pasifika and disabled learners – also showed an increase in 2024.
    Te Pūkenga also developed major commercial partnerships with national employers and international partners. Amongst the highlights are a successful partnership with Apple, which included the development of the Hangarau Matihiko (digital technology) micro-credential, training for 50 teachers in 12 Te Tai Tokerau schools, and more than 2,200 ākonga supported in strengthening their digital skills.
    A memorandum of arrangement was signed with the Centre for International People-to-People Exchange (CCIPE) from China to establish the New Zealand – China Vocational Cooperation and Development Alliance. It seeks to promote vocational education in both countries through talent cultivation, cross credits, student exchanges, and academic visits.
    Te Pūkenga also achieved many successful work-based training initiatives including the Connexis-run Girls with Hi-Vis (GWHV), seeking more women apprentices which last year co-hosted 36 events with employers, attracting more than 650 students from 98 schools. It was also the second year that events were co-hosted with BCITO for industry experience days onsite with companies in the civil infrastructure, electrical supply, water industries, building and construction sectors, and at some of the country’s major infrastructure projects.
    Plumbing, Gasfitting, and Drainlaying (PGD) programmes were updated by EarnLearn to better align with industry demands and improve outcomes for employers and learners. Meanwhile Primary ITO achieved a 96% completion rate in its programme to develop a skilled and qualified workforce for Whakatōhea Mussels new farm and processing facility in Ōpōtiki with many of the learners securing full-time jobs afterwards.
    Research revenue exceeded expectations by 38% – $12.02 million compared to the target of $8.73 million, demonstrating the continued strength of rangahau and research within Te Pūkenga. The 2024 ITP Rangahau and Research Symposium, the largest and most diverse research event delivered by Te Pūkenga, attracted more than 275 submissions, representing the work of over 500 kairangahau (researchers) across diverse areas of rangahau and research, including Pacific research.
    “Looking back on the year 2024, our kaimahi can be very proud of the outcomes achieved for our learners and employers, and a good financial result for the sector during a time of significant change. We thank kaimahi for their continued commitment and manaakitanga even as they have faced uncertainty about their own futures.”
    Year-to-date 2025 results show good growth on domestic and international enrolments for ITP divisions, while work-based learning divisions have seen an expected softening because of current market conditions.
    “There are still some hard decisions that need to be made this year to support the financial viability of individual divisions for their transition into new entities.
    “As we prepare for disestablishment, our focus remains on ensuring learners, employers, and kaimahi are well supported while we continue to deliver quality vocational education and training,” says Mr Gilmore.
    You can read the report here: 2024 Annual Report
    In summary, in 2024 Te Pūkenga network had:
    • 226,645 learners including 90,919 trainees and apprentices
    • 45,146 graduates
    • 10,828 trainees and apprentices completed programmes
    • 24,136 employers provided vocational education in partnership with Te Pūkenga
    • 74.4% of Māori learners completed their courses and 82% of all courses were completed, up from 81% in 2023
    • 93% ākonga satisfaction rate, up from 90%
    • 6,875 international student EFTs, ahead of the 2024 target of 5,315
    • 8,908 kaimahi (staff) FTE
    • Employers Net promoter Score (NPS) of 33 in 2024 up from 28 in 2023.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Transport Sector – Freight companies need flexibility to end unworkable employment relationships

    Source: Ia Ara Aotearoa Transporting New Zealand

    Transporting New Zealand is backing a proposed law change that could make it easier for freight companies to part ways with unsafe drivers.
    If enacted, the Employment Relations (Termination of Employment by Agreement) Amendment would enable employers to initiate protected conversations for the purpose of ending an employment agreement by settlement.
    Under the Bill, an employee would have to agree to have the conversation and cannot be coerced into signing anything. Simply having the discussion is not, on its own, grounds for a personal grievance claim.
    “The current employment dispute resolution process in New Zealand is marked by costly delays, says chief executive Dom Kalasih.
    “In high-risk industries like freight transport, we cannot afford to wait when it comes to dismissing a hazardous driver.”
    He says terminations are rare in the industry and usually occur for exceptional reasons, such as drug use, repeated speeding or logbook breaches.
    “This is a public safety issue,” Kalasih says.
    The advocacy group cited examples from members who have faced long, costly processes to dismiss drivers who have failed drug tests or showed up to work impaired.
    “This Bill provides a way to avoid unnecessary delays and expenses associated with working through the entire process, when the ultimate result is the same – termination of employment.”
    Speaking to the Education and Workforce select committee on Wednesday, Kalasih said the current framework imposes unreasonable costs and delays on employers and employees alike.
    Currently, parties are waiting up to three months to have their cases mediated by MBIE before it can even progress to the Employment Relations Authority. The vast majority of cases are already resolved by financial settlement.
    The industry association is satisfied that the protections in the Bill and the voluntary nature of protected negotiations are adequate safeguards against abuse of the framework by bad-faith employers.
    Kalasih says similar legislation has been in place in the UK since 2013 and has been running smoothly there.
    “Transporting New Zealand does not condone workplace bullying or non-compliance with the law,” Kalasih says.
    “The Bill must ensure that employees are given adequate time to seek independent advice and that any pre-termination negotiations can still be used as evidence if they have involved coercion, discrimination or dishonesty.”
    About Ia Ara Aotearoa Transporting New Zealand
    Ia Ara Aotearoa Transporting New Zealand is the peak national membership association representing the road freight transport industry. Our members operate urban, rural and inter-regional commercial freight transport services throughout the country.
    Road is the dominant freight mode in New Zealand, transporting 92.8% of the freight task on a tonnage basis, and 75.1% on a tonne-km basis. The road freight transport industry employs over 34,000 people across more than 4700 businesses, with an annual turnover of $6 billion.

    MIL OSI New Zealand News

  • MIL-OSI China: China harnesses biomass energy to power green transition

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

    At a biomass power plant in the city of Xuzhou, east China’s Jiangsu Province, giant mechanical claws repeatedly feed bundles of dried straw onto conveyor belts. The straw is then transported to furnaces and converted into clean energy.

    This facility can process around 300,000 tonnes of agricultural residues like wheat, corn and rice straw annually, producing over 220 million kilowatt-hours of electricity.

    “That’s equivalent to saving about 90,000 tonnes of coal and cutting roughly 200,000 tonnes of carbon dioxide emissions each year,” said Zhang Yunfei, director of the dispatch center at State Grid Xuzhou Power Supply Company.

    Biomass energy is largely derived from agricultural and forestry waste, livestock manure and organic refuse — materials once dismissed as mere waste. With the rise of clean energy technologies and increasing environmental awareness, China is viewing these materials as a vital part of its energy transition.

    “Fewer farmers now burn straw in the fields, a practice that poses fire hazards and pollutes the air. Instead, crop residues are transported to modern biomass power plants,” Zhang said.

    “Xuzhou is rich in biomass resources and holds significant potential for energy conversion,” Zhang added. The city now operates 17 large-scale biomass plants with a combined installed capacity of 335.6 megawatts, generating nearly 2 billion kilowatt-hours of electricity annually.

    China is one of the world’s most biomass-rich countries. Statistics from the Biomass Energy Industry Promotion Association show that the country produces approximately 3.5 billion tonnes of agricultural, forestry and household biomass resources annually. However, the utilization rates remain relatively low.

    In January, China’s first national energy law came into effect, calling for the tailored development of biomass power based on regional conditions.

    Shanghai in east China has established pilot projects to convert biomass into green methanol, aiming to drive a low-carbon transformation in international shipping and build green fuel supply capacity of 300,000 tonnes within the city by 2030.

    Meanwhile, enterprises in Anhui Province, also in east China, are scaling up biogas liquefaction and carbon capture initiatives, converting discarded straw and livestock waste into purified methane for liquefied bio-natural gas.

    At a circular economy industrial park in the city of Suzhou in Jiangsu, advanced facilities process around 500 tonnes of corporate kitchen waste daily.

    “About 90 percent of kitchen waste can be recycled into biomass natural gas for the city’s gas grid, or converted into nutrient-rich soil for landscaping,” said Huang Yuanchen, general manager of an environmental protection company in the park.

    “It’s not just kitchen waste. Tree branches and fallen leaves can also be recycled and processed into biomass fuel pellets for use in thermal power plants,” Huang revealed, while noting that his company can process 100 tonnes of green waste daily, generating annual fuel pellet sales of up to 9 million yuan (roughly 1.26 million U.S. dollars).

    Yu Tong, president of the China Association for the Promotion of Industrial Development, emphasized that achieving carbon neutrality demands transformative changes in energy consumption. “Biomass energy is abundant and versatile. It can be solid, liquid or gas — and can replace fossil fuels across multiple sectors.”

    According to a 2025 China biomass energy industry report, the country’s installed biomass power capacity had reached 45.99 million kilowatts by the end of 2024, with total power generation hitting 208.3 billion kilowatt-hours and biogas output reaching about 500 million cubic meters.

    “To bring biomass power to the power grid, centralized control systems are being rolled out for real-time monitoring of power plant performance and output, enhancing both power generation efficiency and stability,” said Li Yi, head of development planning at State Grid Xuzhou Power Supply Company.

    Yang Xudong, a professor at Tsinghua University in Beijing, underscored the further potential of biomass utilization.

    “Biomass energy can be easily stored and transported, and can serve as an alternative to other commercial fuels. It not only yields substantial economic returns, but retains its carbon-neutral identity.”

    “In the future, further efforts should be made to optimize the entire biomass value chain and boost biomass energy consumption to fully unleash its green potential,” Yang added. 

    MIL OSI China News

  • MIL-OSI China: Post-gaokao spending marks rite of passage for Chinese teens

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

    Students celebrate after the exam at a national college entrance examination site in Changsha, central China’s Hunan Province, June 9, 2025. (Xinhua/Chen Sihan)

    As the plane touched down at Beijing Capital International Airport, 18-year-old Zhao Zhixing from east China’s Fujian Province snapped a selfie from his window seat, marking the start of his first solo trip after the grueling national college entrance examination, or gaokao.

    “After the intense pressure of high school, I want to relax by traveling and, at the same time, broaden my horizons by experiencing the charm of different cities,” said Zhao, who planned his post-gaokao trip to Beijing and Nanjing — over a week of sightseeing, theme parks and no textbooks — as soon as the exam ended.

    For millions of Chinese teens like Zhao, the end of the gaokao signals more than just academic relief. It ushers in a unique consumer trend known as the “post-gaokao economy,” as students and their families celebrate hard-earned freedom with a surge in spending on travel, electronics, lifestyle upgrades, and self-discovery experiences.

    This week, gaokao results have begun to roll out across the country, giving graduates even more reason to unwind and enjoy the summer break.

    EMOTIONAL SPENDING SPIKE

    Across China, industries ranging from tourism and consumer electronics to personal training and medical services have reported a spike in activity in the weeks following the gaokao, which is held in early June every year.

    According to data from Ctrip, bookings for travel packages departing between June 9 and June 11 rose by 88 percent compared to the previous week, as many high school graduates chose to begin their trips immediately after the exam.

    Destinations such as Beijing, Chengdu, Hangzhou and Xi’an are attracting large numbers of student travelers, with many scenic spots offering discounted or free admission for this year’s high school graduates.

    Retailers are also experiencing growth, with electronics ranking among the top purchases. Sun Jian, store manager of JD MALL in Chongqing, said that alongside popular items like smartphones, laptops and tablets, sales of learning devices, digital notebooks and wearable gadgets have risen by 40 to 50 percent compared with the pre-gaokao period.

    Given the immense importance of the gaokao in Chinese society, both students and parents often turn to travel, shopping, or celebration as a way to find emotional release after years of academic pressure.

    “My son enjoys gaming, so we promised him that if he focused on preparing for the exam, he could fully relax and have fun afterward,” said a customer surnamed Zhuang, who was shopping for a laptop at a store in Fujian’s Quanzhou City. Zhuang added that he was willing to buy the best he could afford for his son, as it would also be useful for college.

    STYLE MAKEOVERS SOAR

    Beyond just spending, the post-gaokao period provides a glimpse into how today’s youth are starting to explore their identities and passions. From solo trips and comic con visits to photography workshops and fitness classes, students are using the time to pursue their personal interests.

    A community gym in Beijing’s Xicheng District has seen a surge in visitors this June. “We receive numerous inquiry calls daily, and many new members are recent high school graduates,” a gym staff member said. “They hope to use the summer for structured training to enter university better prepared both physically and mentally.”

    Zhang Qingxi, a high school graduate from Huangping County in the southwestern province of Guizhou, began driving lessons just days after the gaokao. “I hope to get my license this summer,” she said. “Once I have it, I plan to travel with friends and see the places I’ve only read about in books.” According to Zhang, nearly 100 students who recently took the gaokao attend driving lessons at her training center daily.

    Many students are also taking greater interest in their appearance and personal style. Wang, a hairdresser from Xi’an, said the number of students coming in for hair dyeing has surged since the gaokao, and to keep up with the demand, the salon has even extended its hours.

    “Graduates often choose trendy and unique hairstyles, and some even bring in anime-style designs from comics for inspiration,” said another hair salon employee.

    According to data from Meituan, orders for vision correction surgery rose by 108 percent in the first week after the gaokao, while orders for orthodontics and teeth whitening each saw a nearly 30 percent increase week-on-week.

    FROM TEST TAKERS TO DECISION MAKERS

    Like most post-gaokao travelers, Zhao planned his trip and handled all the bookings — from train tickets to hotel reservations — largely on his own. “We don’t know much about his plan. He’s an adult and it’s all up to him now,” said Zhao’s father.

    “‘Post-gaokao consumption’ is not only a wave of youthful spending, but also an important window into the consumption trends among younger generations,” said Long Shaobo, professor from the School of Public Policy and Administration, Chongqing University.

    According to Xia Ri, assistant researcher at Anbound, an independent think tank in China, high school graduates often seek novelty, quality and variety in their spending, which are traits typical of young people.

    “As they gradually become independent decision-makers and key players in the market, their preferences are driving consumption toward greater personalization and experiential value, accelerating consumption upgrades and product innovation,” Xia said. 

    MIL OSI China News

  • MIL-OSI USA: Senator Markey, House Partners Mark National Gun Violence Awareness Month with Slate of Gun Safety Bills to Address Crisis

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Watch: Sen. Markey commemorates Gun Violence Awareness Month
    Washington (June 25, 2025) – Senator Edward J. Markey (D-Mass.), a member of the Gun Violence Prevention Caucus, today announced a package of gun violence prevention bills that would significantly decrease the pervasive threat of gun violence across the United States by putting an end to the three-dimensional (3D) printing and distribution of “ghost guns,” strengthen accountability measures for irresponsible gun dealers, help banks detect and report suspicious activity related to mass shootings, establish rules that prohibit the marketing of firearms to children, and strengthen state-by-state gun-licensing regulations through federal incentives.
    “Every day, more than 125 people in the United States die from gun violence,” said Senator Markey. “Our communities barely have a moment to mourn before gun violence in our schools and on our streets steals the lives of more Americans and rips families apart. We can’t keep living like this, and Americans can’t keep dying like this. This National Gun Violence Awareness Month, I am reintroducing my gun safety package, which includes commonsense solutions so that not one more life is lost to this unnecessary, man-made public health crisis. I will continue fighting to end the epidemic of gun violence and save lives.”
    Senator Markey was joined by several colleagues who introduced companion legislation in the House of Representatives.
    “It’ll take a multi-pronged approach to end the ongoing gun violence crisis in our country and ensure no community has to face the tragedy my hometown of Parkland did,” said Rep. Jared Moskowitz (FL-23). “That’s only become more urgent with developments from new technology, which is why I’m once again teaming up with Sen. Markey to block 3D-printed ghost guns and devices from our streets. Not only is this equipment nearly impossible to trace, but it can also increase the lethality of traditional firearms. With the safety risk that 3D-printed firearms and accessories pose to communities everywhere, I’m urging Congress to keep our families safe and pass this commonsense bill.”
    “Gun violence takes the lives of innocent people across our country every day, and the vast majority of guns used in violent crimes can be traced back to just a handful of dealers,” said Rep. Seth Magaziner (RI-02). “Our bill will crack down on firearm dealers who break the law, give law enforcement the tools to hold them accountable, and save lives by stopping the flow of firearms used in acts of violence.”
    “We must use every tool at our disposal to combat America’s gun violence epidemic,” said Rep. Madeleine Dean (PA-04). “This bill does just that by activating already existing infrastructure – usually used for detecting financial crimes – to find patterns of behavior that precede mass shootings and terrorist attacks, so we can prevent it. I am grateful to Senator Markey for his continued partnership, on this bill, and in our shared mission to stop tragic loss of life from gun violence.”
    “Gun violence is a public health crisis that subjects families and survivors to deep pain and intergenerational trauma that no one should have to endure,” said Rep. Ayanna Pressley (MA-07). “Our constituents deserve meaningful policy action to save lives – and the MASS Act would do just that by creating stricter regulations around firearm purchasing and drastically reducing gun violence. This Gun Violence Awareness Month I am proud to partner with Senator Markey to confront this epidemic head on and advance common-sense solutions nationwide.”
    Today, Senator Markey and his colleagues reintroduced five gun violence prevention bills:
    The 3D Printed Gun Safety Act, led by Rep. Moskowitz (FL-23) in the House, would prohibit the online distribution of blueprints and instructions that allow for the 3D printing of firearms. The proliferation of “ghost guns” is partly attributed to the ease of assembling firearms using 3D printed technology. Because 3D printing allows individuals to make firearms out of plastic, these guns may be able to evade detection by metal detectors at security checkpoints. This legislation is endorsed by Brady: United Against Gun Violence, Giffords, March For Our Lives, and Newtown Action Alliance.
    The Keeping Gun Dealers Honest Act, led by Rep. Magaziner (RI-02) in the House, would strengthen accountability measures for irresponsible gun dealers violating the law, and provide the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) additional resources for enforcement. This legislation would ensure that guns do not end up in the wrong hands by authorizing more frequent inspections of gun dealers, increasing penalties for serious offenses, and strengthening the Department of Justice’s authority and discretion in enforcing gun laws. This legislation is endorsed by Everytown, Brady: United Against Gun Violence, Giffords, March For Our Lives, and Newtown Action Alliance.
    The Gun Violence Prevention Through Financial Intelligence Act, led by Rep. Dean (PA-04) in the House, would direct the Financial Crimes Enforcement Network (FinCEN) to collect and analyze information from financial institutions to determine what indicators, if any, might precede a mass shooting or terrorist attack. FinCEN would then be required to issue an advisory on how financial institutions use these indicators to comply with regulations. This legislation is endorsed by Giffords, March For Our Lives, and Newtown Action Alliance.
    The Making America Safe and Secure (MASS) Act, led by Rep. Pressley (MA-07) in the House, would incentivize states to adopt gun-licensing standards similar to those proven effective in Massachusetts and other states. Massachusetts has comprehensive gun licensing laws, and not coincidentally, one of the lowest gun death rates in the nation. The MASS Act would authorize the Department of Justice to make funding available to states that implement and maintain comprehensive licensing standards for gun owners and dealers. This legislation is endorsed by Brady: United Against Gun Violence, Giffords, March For Our Lives, and Newtown Action Alliance.
    The Protecting Kids from Gun Marketing Act would direct the Federal Trade Commission (FTC) to prescribe rules that prohibit the marketing of firearms to children. The gun industry consistently makes false and misleading claims about firearm safety and unfairly exploits children and teenagers through unfair and deceptive marketing practices that ultimately lead to fatal consequences. This legislation is endorsed by Brady: United Against Gun Violence, Giffords, March For Our Lives, and Newtown Action Alliance.

    MIL OSI USA News