Category: Economy

  • MIL-OSI Submissions: Solomon Islands – HKH Constituency submits 2024 CDF Expenditure Report, reinforces accountability & compliance with CDF Act 2023

    Source: Government of the Solomon Islands

    The Hograno-Kia-Havulei Constituency (HKHC) on Monday this week submitted its 2024 CDF Expenditure Report to the Ministry of Rural Development (MRD), reinforcing accountability and compliance with the reporting obligation under Section 29 of the CDF Act 2023.

    The report submitted comprised of the records of the total CDF allocation of about 3.88m disbursed to each constituency at the end of the Financial Year 2024.

    The presentation was done by the Constituency Development Officer for HKH Constituency, Mr Apollos Manegere on behalf of the Member of Parliament for the Constituency, Honourable Jeremiah Manele.  

    Receiving the report on behalf of the Ministry of Rural Development, PS John Misite’e, said that this is a reassuring pace, as the Ministry continues to implement the CDF legislation and bringing guidance in the administration of the constituency program under this legal framework.

    PS Misite’e emphasised that Annual Reports inclusive of the financial expenditures’ reports are important processes and documents within any organisation and more so when public resources are being utilised in service delivery.  These reports re-enforce transparency and demonstrated accountability in the use of public resources and funds.

    PS Misite’e thanked the HKH constituency for its diligent efforts in complying with the reporting obligations and also thanked other constituencies that already made their submissions on this 2024 CDF disbursement.

    PS Misitee reiterated calls on other constituencies who are yet to submit their reports to do so as soon as possible. By law all constituency annual reports and expenditure reports should be submitted by February each year and to be compiled by MRD by March of any financial year.

    ‘I am now calling on these constituencies to come forward with their reports soon’. PS Misite’e reiterated.

    The HKH Constituency Development Officer (CDO), Manegere on behalf of the Honourable Member of Parliament, Jeremiah Manele and its Constituency Officers was very delighted with its office for submitting their report and pledge to support MRD in the process annually to satisfy the legal requirements for reporting.

    The CDF Act 2023 was passed by Parliament on 22nd December 2023 and came into commencement/enforcement on the 5th of January 2024.

    This means that whatever offence (s) committed by a recipient (s) of the CDF program after the commencement date of the new Act will be subject to penalties.

    Penalties apply to constituents, Members of Parliament (MPs), and Public Officers if they commit an offence (s).

    The CDF Act 2023 specific offences are as follows;

    A Member of Parliament (MP), or a Public officer or a fund (CDF) recipient commits an offence if he or she:

    Misappropriates any funds or assets from the fund; or
    Advances materials and cash from a supplier without prior approval from the responsible ministry; or
    Fraudulently converts project assets or materials to his own use or to the use of some other person; or
    Deliberately victimises non-voters by excluding them from receiving Constituency Development Funds projects and funds without justifiable grounds; or
    Assists or causes a person to misappropriate or apply the funds otherwise than in the manner provided in this Act and Regulations.

    Now that we have a new CDF Act, the responsibility is on all of us to take responsibility and comply with the new CDF law to avoid legal penalties.

    We (constituents) should not be fearful of this legislation as it is there to act as a guide to our conduct in working with and applying the CDF in our development processes.

    The purposes of the new CDF Act 2023 are;

    To strengthen good governance;
    To ensure improved and effective delivery mechanisms of the Constituency Development Funds and
    To promote equal and inclusive participation of all Solomon Islanders in development.

    MIL OSI – Submitted News

  • MIL-OSI New Zealand: New Zealand Economy – Interim Financial Statements of the Government of New Zealand for the ten months ended 30 April 2025

    Source: The Treasury

    The Interim Financial Statements of the Government of New Zealand for the ten months ended 30 April 2025were released by the Treasury today. The April results are reported against forecasts based on the Budget Economic and Fiscal Update 2025 (BEFU 2025), published on 22 May 2025, and the results for the same period for the previous year.

    The majority of the key fiscal indicators for the ten months ended 30 April 2025 were slightly better than forecast. The Government’s main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit of $7.4 billion. This was $0.1 billion smaller than forecast. While the core Crown results were favourable to forecast, this was largely offset by the results of State-owned Enterprises. Net core Crown debt was in line with forecast at $184.6 billion, or 43.2% of GDP.

    Core Crown tax revenue, at $100.4 billion, was $0.7 billion (0.7%) higher than forecast. Corporate tax and other individuals’ tax contributed $0.4 billion and $0.2 billion respectively to the above forecast result.

    Core Crown expenses, at $115.8 billion, were $0.1 billion (0.1%) below forecast. This variance is mostly timing in nature and was spread across a range of agencies.

    The OBEGALx was a deficit of $7.4 billion, $0.1 billion less than the forecast deficit. When including the revenue and expenses of ACC, the OBEGAL deficit was $11.7 billion, in line with the forecast deficit.

    The operating balance deficit of $6.7 billion was $2.8 billion higher than the forecast deficit. This reflected both the OBEGAL result and net unfavourable valuation movements. Net gains on financial instruments were $4.3 billion lower than forecast, driven by New Zealand Superannuation Fund (NZS Fund) and ACC’s investment portfolios. This unfavourable variance was partly offset by net gains on non-financial instruments being $1.3 billion higher than the forecast loss. This was largely owing to the New Zealand Emissions Trading Scheme with net gains on the liability being $1.1 billion higher than the forecast loss.

    The core Crown residual cash deficit of $8.4 billion was $0.1 billion lower than forecast. While net core Crown operating cash outflows were $0.4 billion higher than forecast, net core Crown capital cash outflows were $0.5 billion lower than forecast.

    Net core Crown debt at $184.6 billion (43.2% of GDP) was in line with forecast. With core Crown residual cash broadly in line with forecast, this and minor movements in non-cash items contributed to the net core Crown debt result.

    Gross debt at $203.5 billion (47.7% of GDP) was $6.3 billion lower than forecast, largely owing to lower than forecast unsettled trades and issuances of Euro Commercial Paper.

    Net worth at $181.4 billion (42.5% of GDP) was $3.1 billion lower than forecast largely reflecting the year-to-date operating balance result.

                     

                      

      Year to date Full Year
    April
    2025
    Actual1
    $m
    April 
    2025
    BEFU 2025
    Forecast1
    $m
    Variance2
    BEFU 2025
    $m
    Variance
    BEFU 2024
    %
    June
    2025
    BEFU 2025
    Forecast3
    $m
    Core Crown tax revenue 100,365 99,645 720 0.7 120,894
    Core Crown revenue 110,787 110,304 483 0.4 134,188
    Core Crown expenses 115,808 115,937 129 0.1 142,207
    Core Crown residual cash (8,439) (8,565) 126 1.5 (9,990)
    Net core Crown debt4 184,620 184,622 2 –  185,644
              as a percentage of GDP 43.2% 43.2%     42.7%
    Gross debt 203,505 209,766 6,262 3.0 209,999
              as a percentage of GDP 47.7% 49.1%     48.3%
    OBEGAL excluding ACC (OBEGALx) (7,444) (7,526) 82 1.1 (10,175)
    OBEGAL (11,667) (11,660) (7) (0.1) (14,740)
    Operating balance (excluding minority interests) (6,665) (3,872) (2,793) (72.1) (5,493)
    Net worth 181,424 184,553 (3,129) (1.7) 183,130
              as a percentage of GDP 42.5% 43.2%     42.1%
    1. Using the most recently published GDP (for the year ended 31 December 2024) of $426,925 million (Source: Stats NZ).
    2. Favourable variances against forecast have a positive sign and unfavourable variances against forecast have a negative sign.
    3. Using BEFU 2025 forecast GDP for the year ending 30 June 2025 of $435,148 million (Source: The Treasury).
    4. Net core Crown debt excludes the NZS Fund and core Crown advances. Net core Crown debt may fluctuate during the year largely reflecting the timing of tax receipts.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Local News – Porirua City Council makes budget decisions

    Source: Porirua City Council

    After listening to feedback from residents Porirua City Council has made changes to next year’s budget, including not increasing paid parking charges in the city or Cannons Creek pool entry fees.
    The Council’s Te Puna Kōrero committee met this morning to deliberate on the Annual Plan, which sets the city’s budget for the coming financial year.
    When preparing the draft Annual Plan, the starting point for this year’s rates increases had increased from the planned 10 per cent to 15 per cent, due to cost pressures.
    Council acknowledged this wasn’t sustainable for households and businesses, so took a hard look at internal operations to find cost savings. This process brought the new starting point for the average rates increase down to 6.75 per cent.
    Council consulted on five options, which if adopted would decrease the rates increase even further. A total of 343 submissions were received, with a mix of opinions on the items on the table.
    Committee Chair Councillor Ross Leggett thanked everyone who made submissions and shared their thoughts.
    “Your feedback is shown in this paper and we do read and appreciate all of it,” he said.
    Of the options consulted on, the committee voted to discontinue the Chamber of Commerce grant and increase Council’s building consent hourly rate.
    They voted against increasing the paid parking hourly rate, putting up Cannons Creek Pool entry fees, and discontinuing the Event Investment Programme.
    With these changes, the average rates increase for residential properties for the 2025/26 year will be 6.39 per cent, subject to confirmation by the full Council on 26 June.
    Mayor Anita Baker said everything possible was done to keep rates increases as low as possible.
    “Nobody wants the big increases we saw last year and we know the community is struggling. The organisation has done a deep dive internally and made significant cuts that got us to a lower starting point than planned.
    “In terms of the further cuts we could have made, we asked for feedback and we’ve listened to our people. That’s why we are not supporting some of the ideas that were on the table.”
    Councillors spoke about the community benefits of swimming pools, the life that events bring to the city, and the need to support local businesses through keeping parking charges as they are. 

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Energy Sector – Past Policy Choices Coming Home to Roost

    Source: Energy Resources Aotearoa

    For yet another year, the Ministry of Business Innovation and Employment (MBIE) data published today shows that estimates for New Zealand’s gas reserves are rapidly declining.
    There has been a 27 per cent year-on-year reduction in natural gas reserves, dropping to 948 petajoules from 1,300 in 2024, which was 20 per cent down on the previous year. Production is now forecast below 100 PJ by 2026, rather than 2029, as previously forecast.
    Energy Resources Aotearoa Chief Executive John Carnegie says the $200 million Crown co-investment in new domestic gas projects, the removal of the 2018 exploration ban, and changes proposed through the Crown Minerals Amendment Bill are all great signs that the Government is working hard to turn the corner on the deindustrialisation of the New Zealand economy.
    “We acknowledge the Government is moving to support the strong potential of our domestic gas supply. But only time will tell if this will be enough.”
    Carnegie says the ongoing challenges with gas supply underscore the urgent need for proactive measures to secure energy stability and support New Zealand’s economic resilience.
    “We know there are still prospective fields out there – now we need to see the right conditions continue so that we can unlock the supply.
    Kiwi businesses are doing it tough as gas supply becomes further constrained. We desperately need more natural gas in the market to ensure electricity is available to keep the lights on and our export economy thriving.”
    Currently, we’re witnessing the consequences of a shrinking domestic gas supply: higher prices, the use of imported coal, and uncertainty for industrial users, Carnegie says. 
    “Natural gas plays a critical role in supporting renewables, powering industry, and keeping energy affordable and reliable.
    Gas production projects underpin everything from electricity to industrial manufacturing. If we don’t continue to work hard on securing more domestic gas for New Zealand, we risk higher prices, more imported coal use, and further instability.”
    If New Zealand can get this right, the benefits are enormous: jobs, royalties, export earnings, and the confidence of regional businesses to expand, knowing they have secure and affordable energy for the future.

    MIL OSI New Zealand News

  • MIL-OSI: MEXC Drives Stablecoin Expansion After $20M USDe Purchase and $100M TVL Milestone

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, June 05, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, is shaping its long-term strategy, based on its mission – making crypto more accessible to everyone and building trust within the community. Being a significant player in the market, MEXC drives the whole industry. The effect of its recent investments on the crypto space globally is hard to overestimate.

    As part of this strategy, the exchange has previously made a significant investment of $16 million in Ethena, a leading innovator in the stablecoin space. The investment follows MEXC’s recent acquisition of $20 million worth of USDe, Ethena’s synthetic dollar, which caused a surge in ENA’s trading volume and boosted USDe’s total value locked (TVL).

    In May 2025, the TVL of USDe in MEXC recorded a value above $100 million, making it the second-largest holder of USDe TVL among centralized exchanges. This growth aligns with the broader rise of USDe, whose circulating supply has reached nearly $5.2 billion — making it the fourth-largest stablecoin by market capitalization. The trust in this coin is backed up by several factors. In contrast to some highly volatile crypto assets, USDe exhibits greater price stability. Also, Ethena employs a unique strategy for maintaining the dollar peg, combining derivatives and on-chain liquidity.

    To encourage users to experience and trade USDe, MEXC launched several events and promotional campaigns, including one with an impressive prize pool of $1 million. Other incentives include zero trading fees, presented as a limited-time Trader’s Fest, aimed at attracting crypto professionals and those who are making their first steps. Within this offering, traders can take advantage of zero-fee trading pairs.

    To appeal to risk-averse crypto investors, MEXC comes out with exclusive staking rewards with generous APR (annual percentage rate). These incentives, targeted to various crypto user groups, offer simplicity, innovation and customization. They drive industry as a whole and build confidence among market participants by promoting stablecoins as a more trustworthy instrument and emphasizing transparency and security of operations.

    These efforts, benefiting not only MEXC itself, but the crypto market on a larger scale, are followed by astonishing numbers. For instance, in March, the quantity of ENA holders increased by 30%, ENA TVL increased by 14%, and the daily trading volume of ENA increased by 885%. The average spot daily trading volume in March increased by 557% compared to February’s numbers.

    By May 2025, ENA’s market capitalization reached 1.96 billion USD, marking a substantial growth from February 2025, when its market cap was approximately half that amount at 1.07 billion USD.

    To sum up, MEXC, a cryptocurrency exchange with a years-long history (it was founded in 2018) is making investments in innovative, but at the same time secure instruments. This move emphasizes MEXC’s values and sets positive trends for the crypto industry in the long-term perspective.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official WebsiteXTelegramHow to Sign Up on MEXC

    For media inquiries, please contact MEXC PR Manager Lucia Hu: lucia.hu@mexc.com

    Source

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

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee886fd6-a86d-483a-bc84-6114b3f85355

    The MIL Network

  • MIL-OSI Economics: Samsung Introduces Samsung Finance+ for Bespoke AI Appliances, Offering Quick and Digital Financing for Indian Consumers

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand has expanded its popular digital lending program, Samsung Finance+, enabling consumer ease of purchase for its wide range of Bespoke AI Appliances. Developed by Samsung R&D Institute in Bangalore & Delhi, Samsung Finance+ ensures a fully digital and hassle-free financing experience with loan approvals in as little as 15 minutes. The initiative aims to provide seamless, quick, and paperless financing solution, making Samsung’s latest AI-enabled appliances including refrigerators, washing machines, and air conditioners, more accessible to consumers across India.
     
    Samsung Finance+ is designed to drive financial inclusion so that consumers can avail easy credit with minimal documentation and quick loan approvals. Loans under Samsung Finance+ are facilitated in partnership with leading financial institution, DMI Finance, which specializes in digital lending solutions, ensuring a fast and seamless experience.
     
     “At Samsung, we are committed to making premium technology accessible to consumers across India, and Samsung Finance+ is a testament to our vision. By combining digital innovation with seamless and hassle-free accessibility, we are simplifying the financing process and expanding financial inclusion, ensuring consumers can conveniently upgrade their lifestyles with our Bespoke AI Appliances, including refrigerators, washing machines, and air conditioners,” said Ghufran Alam, Vice President, Digital Appliances, Samsung India.
     
    How Samsung Finance+ Works
    Consumers can avail a loan through Samsung Finance+ via samsung.com and across retail stores in just a few simple steps. At the retail outlets, consumers have to submit their e-documents for KYC verification at the Samsung Finance+ desk. On the completion of verification and credit scoring processes, the loan is sanctioned in as little as 15 minutes. Flexible EMI options are also available, tailored to suit varied consumer needs. This seamless process ensures that customers can purchase their preferred Samsung appliances quickly and without financial strain.

    MIL OSI Economics

  • Nintendo Switch 2 launches globally with shortages expected amid pent-up demand

    Source: Government of India

    Source: Government of India (4)

    Nintendo’s 7974.T Switch 2 launched on Thursday and is widely expected to be in short supply globally amid pent-up demand for the more powerful next-generation gaming device.

    “The level of demand seems to be sky-high,” said Serkan Toto, founder of the Kantan Games consultancy.

    The Switch launched in 2017 and followed the underperforming Wii U. The home-portable device became a juggernaut with games including two “The Legend of Zelda” titles and COVID-19 pandemic breakout hit “Animal Crossing: New Horizons”.

    The Switch 2 bears many similarities with its predecessor but offers a larger screen and improved graphics and debuts with titles including “Mario Kart World”.

    “The much larger audience of Switch users should translate to stronger adoption in the opening part of its lifecycle,” said Piers Harding-Rolls, an analyst at Ampere Analysis.

    “Nintendo is better prepared this time around” to deal with the high demand, he said.

    The launch of the $499.99 Switch 2 is a test of Nintendo’s supply chain management during U.S. President Donald Trump’s trade war.

    Nintendo last month forecast sales of 15 million Switch 2 units during the current financial year.

    President Shuntaro Furukawa said Nintendo will strengthen production capacity to respond to strong demand and focus on sales promotion in an effort to exceed the forecast.

    The company, which is known for conservative forecasts, also expects to sell 4.5 million Switch units.

    Nintendo said it received 2.2 million applications for its Switch 2 sales lottery on its My Nintendo Store in Japan. Pre-orders at Target TGT.N sold out in less than two hours.

    “You are looking at weeks or months until you can walk into a store and buy a Switch 2,” said Toto of Kantan Games.

    Investor expectations for the new device are similarly lofty.

    Nintendo’s shares are trading near highs and have gained almost 30% this year.

    Concerns include whether momentum for the Switch 2 will be sustained after hardcore gamers have upgraded.

    “The volume of first-party games on offer at launch isn’t as strong as it could be, so some more casual users may wait and see how the games available build over the next one to two years before making the leap,” said Ampere’s Harding-Rolls.

    Ampere forecasts Switch 2 sales to exceed 100 million units in 2030. Nintendo has sold 152 million Switch units in total.

    (Reuters)

  • DBT, Jan Dhan schemes revolutionised welfare delivery in India: FM Sitharaman

    Source: Government of India

    Source: Government of India (4)

    Several groundbreaking financial inclusion schemes by the Prime Minister Narendra Modi-led government have revolutionised welfare delivery in India in the last 11 years, by plugging leakages and ensuring transparency, said Finance Minister Nirmala Sitharaman on Thursday.

    Over the past decade, the NDA government has taken pathbreaking steps to uplift several people from the clutches of poverty, focussing on empowerment, infrastructure and inclusion.

    “Direct Benefit Transfer (DBT) has revolutionised welfare delivery in India, by plugging leakages and ensuring transparency. Over 1,200 government schemes now leverage DBT, enabling direct transfer of Rs 44 lakh crore to beneficiaries’ bank accounts,” said FM Sitharaman in a post on X.

    This system has already saved the nation Rs 3.48 lakh crore in leakages and inefficiencies, she informed.

    Also, PM MUDRA Yojana has given wings to grassroots dreams and made entrepreneurship inclusive.

    “Under this scheme, over 52 crore loans worth Rs 33 lakh crore have been sanctioned, out of which 68 per cent belong to women,” said the Finance Minister.

    PM Jan Dhan Yojana has made banking universal. Under the world’s largest financial inclusion programme, 55.44 crore accounts have been opened, out of which 55.7 per cent are held by women, said the Finance Minister.

    According to PM Modi, the push for DBT, digital inclusion and rural infrastructure has ensured transparency and faster delivery of benefits till the last mile.

    Since the money goes directly into the bank accounts of beneficiaries, the leakage has been curbed, which has resulted in a halving of subsidy allocations from 16 per cent to 9 per cent of total expenditure, government data showed in April.

    “It is due to this that over 25 crore people have defeated poverty. The NDA remains committed to building an inclusive and self-reliant India, where every citizen has the opportunity to live with dignity,” said PM Modi in a post on X.

    (IANS)

     

  • MIL-OSI Russia: Capital’s manufacturing enterprises increased production output

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    According to the results of the first four months of 2025, Moscow companies in the manufacturing industry increased the production of key products that are in demand among residents. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “On the instructions of Sergei Sobyanin, we are actively developing the industrial sector, which allows us to regularly note the growth of the industrial production index. According to the results of the first four months of 2025, manufacturing enterprises increased output by 6.7 percent. Companies began to produce more textile and paper products, chemicals, medical equipment, pharmaceutical substances and other important products,” said Maxim Liksutov.

    According to analysts’ forecasts Department of Investment and Industrial Policy of Moscow, the growth of industrial production in the capital will continue: this will be facilitated by a set of effective support instruments.

    “Moscow industry is a dynamically developing sector of the capital’s economy and one of the key elements in strengthening the country’s technological sovereignty. Today, we offer over 20 comprehensive tools for sustainable industrial development, which allows the city to reach new heights. In January-April, industrial production grew by 5.4 percent compared to the same period last year,” noted the Minister of the Moscow Government, Head of the Moscow Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    Moscow is the largest industrial and scientific-engineering center of Russia. There are more than 4.5 thousand industrial enterprises in the capital, employing over 750 thousand people. Every year, 150 high-tech companies open in the city and implement dozens of investment projects.

    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/154837073/

    MIL OSI Russia News

  • MIL-OSI Russia: How to invest funds and present business ideas: what young visitors to financial literacy days will learn

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    On June 7 and 8, the Northern and Southern river terminals will host financial literacy days. A two-day educational marathon for the whole family was prepared Department of Finance of the City of Moscowand the Financial Literacy Center of the capital together with partners. While adults will participate in lectures and master classes, children will learn how to manage money wisely. The program of events for young visitors is divided into age groups: for children aged six to 10, 11 to 14, and 14 to 17.

    “Young guests will master key skills in an accessible, playful way: be mindful of spending and saving, avoid financial traps, and turn dreams into achievable goals. No complicated terms — just practice, exciting games, educational cartoons, and interactive activities. Today, when the world of finance is becoming increasingly complex, it is especially important to give children a reliable compass that will help them confidently chart their course into adulthood,” she emphasized.

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

    This time, financial literacy days will be held as part of a large-scale city project “Summer in Moscow”. To participate, you need to register in the Russpass service. In order to attend the events on June 7, Northern river station, registration will be required. To participate in the events on June 8, Southern river station You also need to register.

    “On June 7 and 8, the Northern and Southern River Terminals will become the venue for financial literacy days. On the instructions of Sergei Sobyanin, we continue to develop both river terminals. Today, these are not only transport platforms, but also modern urban spaces: entertainment, cultural and educational events are held here all year round,” said the Deputy Mayor of Moscow for Transport and Industry

    Maxim Liksutov.

    How to preserve capital

    The organizers came up with a way to explain to children what a personal budget, savings, and reasonable spending are. They turned complex topics into an exciting game.

    For the first time, during the days of financial literacy at the Northern River Terminal on June 7, a separate children’s zone “Cabin Boys-Entrepreneurs” will open. The children will master important navigation skills. They will learn to keep track of treasures – income, control damage in the hold – expenses, and also determine the course – plan a budget. How to manage wisely with personal fundsNatalia Pivkina, an expert at the Moscow Center for Financial Literacy, will tell the children how to always stay afloat.

    At the master class “Color your treasure map”The kids will learn to set financial goals, such as saving up for a new toy or book. Together with experts, they will learn the rules of saving.

    Children learn information more easily through visual examples. At the event “The Island of Financial Fairy Tales”Experts will analyze the behavior of famous cartoon characters and show how to make a shopping list, plan expenses, and even help parents save money.

    During interactive classes, schoolchildren will be asked to come up with a new type of means of payment and layout bank cardwith its own original design.

    For guys who are interested in cryptocurrency and digital ruble, the master class will be held by Irina Maslova, Doctor of Economics. The expert will talk about the features of digital money and give advice on how not to become a victim of crypto scammers.

    Young sailors will be able to take a break from the busy program during short physical exercises – deck and storm exercises. The festive atmosphere will be complemented by a soap bubble show and Aitish’s financial assistant – a favorite character of all children from the program “Good night, little ones!”

    How to invest savings

    Young guests of the second day of financial literacy at the Southern River Terminal on June 8 will get acquainted with various banking instruments that will be useful to them in the future. Children who learn to save money from an early age have a better chance of saving for a dream or a long-awaited trip.

    For those who want to properly form savings and invest them in the future, experts will suggest drawing up step by step planand visualize it colorfully.

    Older kids will be interested team play, during which you can develop business ideas and learn how to present them correctly. Irina Suslova, a teacher at the Department of Innovation Economics of the Faculty of Economics at Lomonosov Moscow State University, will help you with this.

    How to turn a hobby into source of income, Director of Electronic Commerce Dmitry Milyushin will tell young businessmen. The guys will learn what steps they need to take to start making money on their hobby, and what platforms and tools will help with this.

    By solving thematic problems and competing in intellectual tournaments, young guests will understand issues of telephone and internet fraudand find out how to protect yourself from investing in dubious financial organizations.

    Useful exhibitions

    At the Northern and Southern River Terminals, participants in the financial literacy days will be able to visit the Bank of Russia exhibition “Journey to Childhood”. The stands will display photographs of coins dedicated to heroes of folk tales, characters of Russian cartoons, children’s writers and artists. The exhibition will help young guests learn more about finances using familiar stories.

    At the Southern River Terminal, young visitors will be treated to an exhibition called “Financial Security”. The exhibition will introduce children to common types of fraud – from calls from unknown numbers to financial pyramids and fictitious job offers.

    On both days, VR simulators developed jointly with experts from the Moscow Government’s Personnel Services Department will be available. With their help, teenagers aged 14 and over will be able to practice their financial management skills. A financial checkup will help them assess their own knowledge. After answering several questions in the express test, participants will find out their level of financial literacy and receive personal advice and links to useful training materials.

    Summer concerts of the “Music in the Metro” project begin at the Northern River Terminal

    More news about financial literacy, as well as event announcements, can be found in the telegram channel “Open Budget of Moscow” and on portal of the same name.

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

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

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

    https: //vv.mos.ru/nevs/ite/154853073/

    MIL OSI Russia News

  • MIL-OSI: Municipality Finance issues NOK 2 billion notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    5 June 2025 at 10:00 am (EEST)

    Municipality Finance issues NOK 2 billion notes under its MTN programme

    Municipality Finance Plc issues NOK 2 billion notes on 6 June 2025. The maturity date of the notes is 6 January 2031. The notes bear interest at a fixed rate of 4.125% per annum.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 6 June 2025.

    DNB Bank ASA acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network

  • MIL-OSI Economics: Jorgovanka Tabaković: By joining SEPA, Serbia reaffirms its strategic direction

    Source: Bank for International Settlements

    Ladies and gentlemen, esteemed guests, dear colleagues,

    It is a particular pleasure for me that my neighbour, Mr Holti (Senior Financial Sector Specialist with the Payments Team in the Finance, Competitiveness & Innovation Global Practice at the World Bank) from Albania, is with us. As a good host, at the beginning, I greeted him in the way my neighbours in my home town would do. That is indeed a sign of good hospitality, but there is also a bit of bitterness because we, as the best, are the 41st in the SEPA system. However, there is a good Serbian saying: Luck is never late. And whenever something happens, it happens on time.

    I am speaking to you at a moment when a significant chapter has already been opened: the Republic of Serbia has become part of the Single Euro Payments Area (SEPA).

    With this step, Serbia has entered a new phase of economic integration with the EU. We are now the first country in the region with an advanced instant payment system, ready to participate equally in a space where payments are executed without borders – quickly, securely, and reliably.

    Europe will not be made all at once, or according to a single plan. It will be built through concrete achievements which first create a de facto solidarity,” said Jean Monnet, one of the founding fathers of the EU. Our path to SEPA embodies these concrete achievements – the collective effort of experts, institutions and partners from the country and abroad.

    SEPA is not merely a technical framework for connecting payment systems. It is a civilizational framework of trust – a common language for European markets and the foundation of the digital economy. If the Tower of Babel, like in Bruegel’s painting, remained unfinished in its construction because the people of the world could not agree to speak one language, through the SEPA instrument we are trying to realise that eternal human dream – to speak the same language in order to understand each other best.

    By joining SEPA, Serbia not only establishes the basis for more efficient cross-border payment transactions but also clearly reaffirms its strategic direction, which is European, modern and inclusive.

    Our path to SEPA was a carefully guided process of reforms, involving thorough alignment with the highest EU standards. From adopting a modern legal framework for payment services and implementing the provisions of the PSD2 directive to enacting secondary legislation – every step was grounded in a clear vision and institutional responsibility. During this process, we enhanced supervisory capacities, strengthened collaboration with the banking and fintech sectors, and created a regulatory environment that now enables a stable, transparent, and competitive system. Over this time, Serbia has taken a significant leap – not only in terms of aligning with the highest EU standards but also in terms of developing its own solutions that today serve as benchmarks both regionally and globally. When I say our own solutions, I mean solutions developed primarily relying on our own efforts, for our greatest strength is the people who created that software. Our instant payment system, the NBS IPS system, which operates in real time and processes over five million transactions a month, has become a symbol of innovation and reliability. We have achieved what until recently seemed a distant goal – that the size of a country depends not on its territory but on the knowledge it possesses and the trust it inspires. Today, Serbia does not merely follow European trends but actively shapes them – through vision, infrastructure, and the trust it has built among partners and users.

    I extend special gratitude to the European Payments Council, the European Commission, the European Central Bank, and the World Bank for their continuous support. Your confidence in our institutional capacity has been the driving force behind our resolve.

    As Governor, I am proud of the National Bank of Serbia’s team, which has worked tirelessly toward this goal. We witness how expertise has translated into reform, how plans have become reality, and how vision has opened the door to the European financial system.

    He who has a why to live can bear almost any how“, or He who has a why to live can bear almost any burden. And he who does not, does not embark on any project. These are not only the words of Friedrich Nietzsche, but a philosophy we affirm every day in our business decisions. These words – that if you know why you live, you can endure any burden – shape human resilience and the meaning of existence. Our why has always been clear: to ensure that citizens and the economy reap the benefits they deserve – lower costs, greater trust and simpler processes.

    Today, we can proudly say that Serbia is part of the European payments area. Our application has been officially accepted. Serbia has become a full-fledged member of the SEPA geographical scope.

    On behalf of the National Bank of Serbia, the institution entrusted with the stability and development of the domestic financial system, it is my honour to announce this news with a sense of deep pride and responsibility. With this achievement, Serbia takes its place in the Single European Payments Area with systems that speak the same language of standards, regulations that protect users, and a vision that integrates economies into a single payments market.

    This is a space where interoperability is not just a technical term but a daily practice of trust. It is a network where every signal, every transfer of funds, every digital confirmation – testifies to a single European idea: that stability, transparency, and efficiency are not a matter of luxury but expectations. Today, Serbia does not translate the lexicon of payment standards – it is the one writing it. Now, all payment service providers in Serbia stand before a new chapter of responsibility but also of opportunity. Joining SEPA does not mark the end of our work – our work now begins at a higher level. Now is the moment to once again demonstrate our leadership: through knowledge, efficiency and dedication, and to prove that the trust placed in us was not accidental but earned.

    May this day be remembered as the moment Serbia did not take a step forward – but a natural step. For we did not wait to become part of SEPA; we have long been ready for it. Today, Europe has recognised what we already knew – that Serbia belongs to a community that values knowledge, reliability and vision, and that Serbia is part of the area where standards mean trust and collaboration yields results.

    I thank everyone who has supported us on this journey, above all our colleagues, then the banking sector, which has always understood that we are working together on this task. I wish everyone a successful and inspiring continuation not only of today’s workshop but also of our future cooperation.

    Thank you.

    MIL OSI Economics

  • MIL-OSI: Ageas Re partners with Slovenian insurer Triglav Group in connection with the Motor insurance business distributed by Italian Insurtech Prima

    Source: GlobeNewswire (MIL-OSI)

    Ageas Re partners with Slovenian insurer Triglav Group in connection with the Motor insurance business distributed by Italian Insurtech Prima

    Today, Ageas Re, the reinsurance arm of Ageas Group, concluded a reinsurance agreement with Slovenian insurer Triglav Group in connection with the partnership entered into by Triglav Group with leading Italian direct Motor insurance distributor, Prima Assicurazioni S.p.A. (Prima), with the objective to expand its business portfolio and to contribute to the Ageas’s Elevate27 profitable growth ambitions.

    Under to the agreement, Ageas Re takes an 80% Quota Share on the Prima business underwritten by Triglav Group in 2025, commencing in the coming weeks.

    Prima is a rapidly growing, profitable insurance distributor that began distributing personal lines policies, mainly Motor, in 2015. Since then, it has become the number 1 in the Italian Direct Motor business. In 2024, the company generated EUR 1.3 billion gross written premiums, servicing over 4 million customers, and EUR 104 million Group EBITDA.

    This agreement is in perfect alignment with Ageas’s Elevate27 strategy to achieve profitable growth in an attractive European Non-Life market. The Italian Motor insurance market generates premiums in excess of EUR 15 billion, with consistent profitability. Through this partnership, Ageas Re teams up with a tech-driven, local champion, with proven track record, providing immediate market entry with considerable scale.

    Ageas Re anticipates inflows from this transaction in excess of EUR 500 million in 2025 and a Net Operating Result of around EUR 15 million, spread over 2025 and 2026. The impact on Group Solvency is estimated to be no more than -4 points in 2025.

    Hans De Cuyper, CEO of Ageas stated: The agreement with Triglav Group aligns well with many aspects of our newly launched strategy, Elevate27. This collaboration enables us to enter a promising European growth market in Non-Life insurance and achieve profitable growth through a partner with a strong market position.”

    Joachim Racz, CEO of Ageas Re continued: “I am pleased to announce this partnership. Along with the entire Ageas Re team, I look forward to establishing a successful collaboration, offering high-quality insurance products to the Italian customer distributed by Prima. We would also like to thank Howden Re for the excellent management of the process and transaction.”

    George Ottathycal, CEO of Prima said: “Prima Assicurazioni has experienced remarkable growth in the Italian motor insurance market, surpassing 4 million active customers in just ten years. This success is the result of our sophisticated and rigorous pricing and underwriting, outstanding user experience, and, most importantly, our carefully selected strategic partners who fully align with our cutting-edge, technology- and data-driven business model. Not only will the solidity and trust of the new partners Triglav Group and Ageas Re further expand our growth, but will also deliver significant value to our entire network of agents and brokers—and, above all, to our customers.”

    Andrej Slapar, President of the Management Board of Zavarovalnica Triglav, commented: “Our strategic ambition is to grow beyond existing markets and enhance Triglav Group’s international recognition. The Italian motor insurance market presents a strong opportunity to support this goal, and we are pleased to be working with well-established partners Prima and Ageas Re. The Triglav Group will continue to explore opportunities for further growth and for delivering on the other objectives set out in our strategy.”

    Ageas is a Belgian rooted listed international insurance Group with a heritage spanning of 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow, and is also engaged in reinsurance activities. As one of Europe’s larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of EUR 18.5 billion in 2024.

    Prima Assicurazioni is an insurtech company operating as a specialized insurance agency in the automotive, home, and family sectors, serving over 4 million clients. It has revolutionized the Italian insurance market through innovation, technology, and a data-driven strategy. Thanks to unprecedented growth over its 10-year history, Prima’s evolving business model has enhanced the user experience, offering competitive pricing and fostering greater market competition. A leader in Italy’s online motor insurance sector, Prima also operates a nationwide network of agents. Since 2022, the company has expanded into the United Kingdom and Spain.

    For 125 years, the Triglav Group has earned the trust of clients and other stakeholders through its expertise, experience, and financial strength. It is the largest insurance-financial group in the Adria region and one of the leading groups in Southeast Europe. The Group operates in six countries, with broader international presence through insurance and reinsurance activities. Insurance and asset management are the two main pillars of its operations. The Group employs more than 5,000 people. Its mission is to create a safer future. The core values of the Group are responsiveness, simplicity, and reliability. Its vision is focused on strengthening its identity and recognition as an international insurance-financial group. Through sustainable operations, it provides a development-oriented environment for employees, maintains strong partnerships, and represents a stable, secure, and profitable investment for shareholders. The parent company of the Triglav Group is Zavarovalnica Triglav, a Prime Market issuer on the Ljubljana Stock Exchange.

    Attachment

    The MIL Network

  • MIL-OSI: Richemont publishes FY25 Annual Report and Non-Financial Report

    Source: GlobeNewswire (MIL-OSI)

    5 JUNE 2025 

    RICHEMONT PUBLISHES FY25 ANNUAL REPORT 
    AND NON-FINANCIAL REPORT

    Richemont has today published its combined Annual Report and Accounts with the Business review, the Compensation Report and the Corporate Governance Report, along with its Non-Financial Report, for the year ended 31 March 2025.

    The Annual Report and Accounts, which includes the Chairman’s review to shareholders, the annual consolidated and statutory financial statements, and the corresponding audit reports was already published on 16 May 2025.

    The Non-Financial Report 2025, prepared in accordance with the Global Reporting Initiative (GRI) Standards (2021), provides Richemont’s disclosures on non-financial matters. The report complies with the reporting disclosure required by Articles 964a-c of the Swiss Code of Obligations, including the Swiss Ordinance on Climate Disclosures. Selected disclosures and indicators have been independently assured (limited assurance) by PricewaterhouseCoopers SA (PwC).

    Both reports are available for download on the Company’s website at https://www.richemont.com/media/ue1bjrjv/richemont-fy25-annual-report-en.pdf and https://www.richemont.com/media/3vwfatyf/richemont-non-financial-report-2025.pdf. Hard copies will be mailed to parties who have requested it and may also be obtained from the Company’s registered office at the address below or by contacting the Company via the website at www.richemont.com/about-us/contact-us.

    In South Africa, the Annual Report and Non-Financial Report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196, South Africa.

    About Richemont

    At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

    Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as Watchfinder & Co. Find out more at https://www.richemont.com/.

    Richemont A shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont A shares are listed on the Johannesburg Stock Exchange, Richemont’s secondary listing.

    Investor/analyst and media enquiries
    +41 22 721 3003 (investor relations)
    Investor.relations@cfrinfo.net
    +41 22 721 3507 (media)
    pressoffice@cfrinfo.net
    richemont@teneo.com

    Click here for a printer-friendly version in English (PDF)

    The MIL Network

  • MIL-OSI Video: What is the Savings and Investments Union?

    Source: European Commission (video statements)

    Discover the primary objectives of the Savings and Investments Union and how it will reshape Europe’s financial landscape.

    Europeans save around €1.4 trillion each year in low-interest rate bank deposits, while European businesses, especially start-ups and small enterprises, struggle to secure investment funding for their projects. The need for a strategic investment approach is evident.

    To address this, the Savings and Investments Union aims to streamline investment processes and expand opportunities, driving EU economic growth and boosting household wealth.

    This initiative will empower a variety of stakeholders, including investment firms and individual citizens, to participate in investments across the EU, facilitating access to capital for critical sectors such as green and digital transitions.

    The Savings and Investments Union also focuses on equipping people with the knowledge and skills they need so that, if they decide to invest, they can make informed decisions.

    Ultimately, the objectives of the Savings and Investments Union are to amplify investment choices, support EU enterprises, and strengthen the regional economy, leading to improved living standards for all Europeans.

    Watch on the Audiovisual Portal of the European Commission: https://audiovisual.ec.europa.eu/en/video/I-271253
    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Check our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=LI-gnz9di3E

    MIL OSI Video

  • MIL-OSI Germany: German general government debt up in 2024 by €57 billion to €2.7 trillion, debt ratio down from 62.9% to 62.5%

    Source: Deutsche Bundesbank in English

    General government debt in Germany increased by €57 billion in 2024 to €2.69 trillion. Central government debt grew the most, by €36 billion. State and local governments recorded an increase of €15 billion and €14 billion, respectively. Debt between central, state and local government, which is factored out when calculating the figure for general government debt, also climbed. The Bundesbank determines Germany’s general government debt as per the definition set out in the Maastricht Treaty, which is harmonised across the EU.
    The debt ratio, meaning the ratio of debt to nominal gross domestic product (GDP), fell by 0.4 percentage point to 62.5%. Taken by itself, the increase in nominal GDP reduced the debt ratio by 1.8 percentage points. This outweighed the expansion in debt.
    The €57 billion increase in debt was significantly lower than the general government (Maastricht) deficit (€119 billion) published by the Federal Statistical Office. The smaller increase in debt was mainly due to the fact that a large portion of the deficit could be financed by drawing on available bank deposits. In addition, central government was able to limit its borrowing because it was receiving repayments on assistance loans previously granted (during the coronavirus pandemic and to support the energy sector). Such repayments (like the granting of funds before them) do not change the deficit, but do impact the debt level.

    Year

    Debt level (€ billion)

    GDP (%)

    Change indebt level (€ billion)

    2024

    2,689

    62.5

    57

    2023

    2,632

    62.9

    61

    2022

    2,571

    65.0

    67

    2021

    2,504

    68.1

    156

    2020

    2,348

    68.1

    272

    2019

    2,076

    58.7

    -11

    2018

    2,086

    60.8

    -46

    2017

    2,133

    64.0

    -50

    In addition to national debt, EU Member States also take on debt collectively at the European level. Around €70 billion of this debt can be ascribed to Germany, an amount equivalent to 1.6% of the country’s GDP. Consolidated EU debt totalled €169 billion in 2023. In 2024, it is estimated to have risen to €282 billion. Ultimately, this joint debt is largely serviced through the EU budget, and Member States therefore have a share in it through their financial contribution to the EU budget. Germany’s financial contribution currently amounts to around one-quarter.

    Year

    Consolidated debt of EU institutions and bodies (€ billion)*

    Germany’s financial contribution (€ billion)

    GDP (%)

    2024

    282

    70

    1.6

    2023

    169

    43

    1.0

    2022

    110

    28

    0.7

    2021

    58

    15

    0.4

    * Maastricht debt of EU institutions and bodies less claims of the EU on Member States. It primarily consists of the debt-financed grants to Member States made since 2021 under the Next Generation EU scheme. Source: Eurostat, 2024. The figures for 2024 contain shares estimated by the Bundesbank. 
    Background: The EU Member States report data on their general government fiscal balance and debt to the European Commission each year at the end of March and end of September in what are known as EDP notifications. The Bundesbank calculates Maastricht debt, the definition of which is harmonised across the European Union. Germany’s Maastricht debt is largely based on the “debt of the general government budget”, which is calculated using national government finance statistics methodology. The Federal Statistical Office published its figures for this on 26 March 2025. In terms of methodology, Maastricht debt has a broader definition so as to make it comparable across Europe. This means that it generally works out significantly higher than the debt level recorded in the government finance statistics (by €180 billion in 2024).

    MIL OSI

    MIL OSI German News

  • MIL-OSI Germany: April results of the Bank Lending Survey (BLS) in Germany | Demand continued to rise in all loan categories

    Source: Deutsche Bundesbank in English

    The German banks responding to the Bank Lending Survey (BLS) tightened their credit standards slightly for loans to enterprises in the first quarter of 2025, primarily based on risk considerations. By contrast, banks eased their credit standards for loans to households for house purchase. They did not see a need to adjust their credit standards for consumer credit and other lending to households. 
    Banks tightened their credit standards for loans to enterprises to a lesser extent than they had planned in the previous quarter. They had originally intended to tighten their credit standards for loans to households. 
    The banks that took part in the survey made credit terms and conditions for loans to enterprises and for consumer credit and other lending to households more restrictive on balance, whilst easing terms and conditions for loans to households for house purchase. 
    Demand for loans continued to rise in all loan categories, with loans to households for house purchase increasing significantly.  
    The level of the non-performing loans (NPL) ratio and other indicators of credit quality had tightening effects on lending policies for loans to enterprises and for consumer credit and other lending to households over the past three months.
    The ECB Governing Council’s past and expected key interest rate decisions had a negative impact on net interest income, thereby contributing to a deterioration in banks’ profitability in the 2024-25 winter half-year. For the summer half-year, too, banks are expecting the key interest rate decisions to have a negative impact on their net interest income as well as on their profitability.
    The BLS covers three loan categories: loans to enterprises, loans to households for house purchase, and consumer credit and other lending to households. On balance, the surveyed banks tightened their credit standards (i.e. their internal guidelines or loan approval criteria) slightly for loans to enterprises. By contrast, they eased their credit standards for loans to households for house purchase. They left their credit standards for consumer credit and other loans to households unchanged. The net percentage of banks that tightened their standards stood at +3% for loans to enterprises (compared with +13% in the previous quarter). Credit standards for loans to enterprises were tightened only for large enterprises. Standards for small and medium-sized enterprises were eased somewhat on balance. The net percentage of banks that tightened their standards for loans to households for house purchase was -7% (compared with +11% in the previous quarter); for consumer credit and other lending to households, this figure was 0% (compared with +11% in the previous quarter). Banks tightened their credit standards for loans to enterprises to a lesser extent than they had planned in the previous quarter. They had originally intended to tighten their credit standards for loans to households. 
    The banks justified the slight tightening of credit standards for loans to enterprises on the grounds of a perceived increase in credit risk. This assessment relates to the general economic situation, but also to sector and firm-specific factors. Banks’ main rationale for easing credit standards for loans for house purchase was their higher risk tolerance. Another factor was that the outlook on the housing market had improved. They also reported that competition with other banks had increased and capital costs had decreased. For the second quarter of 2025, banks are planning to tighten their credit standards in all loan categories. Here, credit risk is likely to have a restrictive impact on the adjustment of credit standards owing to the tense economic situation and a decline in borrower creditworthiness.

    Change in credit standards for loans to households for house purchase and contributing factorsOn balance, banks tightened their terms and conditions (i.e. the terms and conditions actually approved as laid down in the loan contract) for loans to enterprises as well as for consumer credit and other lending to households. The restrictive adjustments in both loan categories are the outcome of higher lending rates and an increase in margins irrespective of credit ratings. The banks justified these adjustments primarily on the grounds of their reduced risk tolerance and a perceived increase in credit risk. Banks eased their terms and conditions for loans to households for house purchase overall by reducing their margins. They stated that this was mainly due to stronger competition and an improvement in their liquidity base.
    The surveyed banks reported that demand for bank loans in Germany had risen on balance in all loan categories in the first quarter of 2025, with loans to households for house purchase registering significant growth. Banks stated that the marginal rise in demand for loans to enterprises was driven by various factors: increased demand for mergers, acquisitions and corporate restructuring, as well as for refinancing, debt restructuring and renegotiation. In addition, debt securities were replaced to some degree by bank loans. Interest rate levels once again supported demand for loans, albeit to a lesser extent than in the previous two quarters. By contrast, financing needs for fixed investment declined on balance. The high degree of uncertainty surrounding economic and (geo)political developments is likely to have been a factor here. According to the surveyed banks, the considerable rise in demand for loans to households for house purchase was mainly attributable to the lower level of interest rates and households’ positive view of the outlook on the housing market. Higher consumer confidence also boosted demand. Banks put the rise in demand for consumer credit and other lending to households down to an increase in purchases of durable consumer goods. The loan rejection rate for loans to enterprises went up again, but only for loan requests and applications from small and medium-sized enterprises. There was no change in the rejection rate for large enterprises. The rejection rate declined for loans for house purchase and for consumer credit and other lending to households. For the second quarter of 2025, banks are expecting to see demand increase further across all three loan categories. On balance, they expect demand for housing loans to rise at a significantly more subdued rate than in the first quarter.

    Change in demand for loans to households for house purchase and contributing factorsThe April survey round contained ad hoc questions on participating banks’ financing conditions and the impact of the ECB Governing Council’s past and expected key interest rate decisions. It also contained questions about the impact of the Eurosystem’s monetary policy asset portfolios and of NPLs and other indicators of credit quality on the institutions’ lending policies.
    Against the backdrop of conditions in financial markets, German banks reported virtually no change in their funding situation compared with the previous quarter. The ECB Governing Council’s past and expected future key interest rate decisions have had, overall, a negative impact on banks’ profitability over the past six months. After the interest rate cuts in October and December 2024 and in February and March 2025, key interest rate decisions ceased to have a positive impact for the first time since this question was introduced. For the 2025 summer half-year, banks are once again expecting key interest rate decisions to have a negative impact on their net interest income as well as on their profitability. Taken in isolation, the reduction in the Eurosystem’s monetary policy securities holdings weakened the liquidity position of banks in Germany. German banks assessed the impact on their financing conditions and capital ratios, too, as slightly negative. 
    In the first quarter of 2025, the level of the NPL ratio (the stock of gross NPLs on the bank’s balance sheet as a percentage of the gross carrying amount of loans) and other indicators of credit quality had restrictive effects on lending policies for loans to enterprises and on consumer credit and other lending to households. In the second quarter of 2025, the banks are expecting this restrictive effect stemming from the decline in credit quality to continue. 
    The Bank Lending Survey, which is conducted four times a year, took place between 10 March and 25 March 2025. In Germany, 33 banks took part in the survey. The response rate was 97%.

    Change in credit standards for loans to enterprises and contributing factors
    Change in demand for loans to enterprises and contributing factorsTime series credit standards
    Loans to enterprises
    Loans to households for house purchase
    Consumer credit and other lending to households

    MIL OSI

    MIL OSI German News

  • MIL-OSI: The last day of trading in unit rights in Terranet’s rights issue

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.

    Today, June 5, 2025, is the last day of trading in unit rights issued in connection with Terranet AB’s (“Terranet” or the “Company”) rights issue of units which the Board of Directors resolved on April 16, 2025, and was approved by the annual general meeting on May 23, 2025 (the “Rights Issue”). Unit rights that are not sold or used for subscription will expire worthless.

    Summary of the Rights Issue:

    • The Rights Issue comprises a maximum of 13,880,714 units. One unit in the Rights Issue consists of twelve (12) B-shares and three (3) warrants of series TO9 B. The warrants are issued free of charge.
    • The subscription price per unit in the Rights Issue is SEK 1.08 per unit, corresponding to SEK 0.09 per B-share. Upon full subscription, the Rights Issue will provide Terranet with approximately SEK 15 million before deduction of issue costs.
    • The right to subscribe for units in the Rights Issue shall, with preferential rights, be granted to shareholders in proportion to the number of shares they already own, where one (1) existing share entitles the holder to one (1) unit right, and eighty-six (86) unit rights entitle the holder to subscribe for one (1) unit.
    • The last day of trading in Terranet’s B-shares including the right to receive unit rights in the Rights Issue was April 25, 2025. The B-shares will be traded excluding the right to receive unit rights from April 28, 2025.
    • The subscription period for the Rights Issue runs from May 27, 2025, up to and including June 11, 2025.
    • The Rights Issue is covered by subscription commitments of approximately SEK 35.2 thousand, corresponding to 0.2 percent of the Rights Issue, and underwriting commitments of approximately SEK 15 million, corresponding to approximately 99.8 percent of the Rights Issue. Thus, the Rights Issue is covered to 100 percent by subscription commitments and underwriting commitments.

    Preliminary timetable for the Rights Issue

    May 27, 2025 – June 5, 2025 Trading in unit rights
    May 27, 2025 – June 11, 2025 Subscripition period
    May 27, 2025 – June 30, 2025 Trading in paid subscribed units (BTU)
    June 13, 2025 Preliminary date for publication of the outcome in the Rights Issue

    Advisers
    Mangold Fondkommission AB is the financial advisor to Terranet in connection with the Rights Issue. Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the Rights Issue.

    For more information, please contact:
    Dan Wahrenberg, CFO
    E-mail: dan.wahrenberg@terranet.se

    About Terranet AB (publ) 

    Terranet’s goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.
    The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B).

    Follow our journey at: www.terranet.se

    Certified Adviser to Terranet is Mangold Fondkommission AB.

    Important information
    The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Terranet in any jurisdiction, neither from Terranet nor anyone else.

    This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

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    The MIL Network

  • MIL-OSI: valantic FSA names Holger Wohlenberg as new CEO

    Source: GlobeNewswire (MIL-OSI)

    Frankfurt, Germany, June 05, 2025 (GLOBE NEWSWIRE) — valantic FSA, a leading provider of digital automation solutions for the financial industry, has appointed Dr. Holger Wohlenberg as Chief Executive Officer, effective June 1, 2025.

    Dr. Wohlenberg brings extensive experience at the intersection of finance, technology and data, including senior leadership roles at Deutsche Börse Group, where he was instrumental in expanding the firm’s proprietary data and technology businesses. 

    This appointment underscores valantic FSA’s next stage of development and growth as it further scales its presence and impact in Europe, and worldwide, supporting capital markets and financial services providers with effective end to end workflow automation and integration solutions for business-critical workflows. Dr. Wohlenberg succeeds Joachim Lauterbach who has decided to move on after ten years, having put valantic FSA firmly on the map as a multi-solution service provider with over 100 customers in 18 countries.

    “I’m thrilled to join a team that combines deep industry expertise and powerful technology to deliver innovation and meaningful change in electronic trading and workflow automation.” said Holger Wohlenberg. “I look forward to building on these strong foundations, working with the valantic FSA team, our clients, and our partners, to continue to make an impact in the delivery of mission-critical financial processes.” 

    valantic FSA sits at the heart of digital transformation in financial services, delivering automation and integration solutions to banks, asset managers and capital markets infrastructure providers. Part of the valantic Group, valantic FSA is one of the fastest-growing financial technology solutions providers in Europe, supporting financial institutions and firms across the continent – and worldwide – to enhance the productivity of capital markets, electronic trading, payments and core banking workflows.  

    Holger von Daniels, valantic Group CEO, commented: “We’re excited to welcome Holger Wohlenberg to valantic. His strategic insight and extensive experience scaling technology-led businesses will help drive the next phase of scale and growth at FSA. We would like to thank the outgoing CEO Joachim Lauterbach for his energy, leadership and vision in establishing strong foundations for our continuing success as a trusted partner in financial services automation.”  

    Dr. Wohlenberg’s appointment comes at a time of unprecedented demand from financial market participants for scalable, intelligent and interoperable digital solutions to manage increasingly complex operational, regulatory and customer engagement workflows.

    About valantic FSA
    valantic FSA automates the trading and transaction workflows at more than 100 firms in the Financial Services industry.​ 

    Our mission is to digitize, augment and evolve the value streams within our clients. This delivers new levels of efficiency, insight, and agility so that our clients can position themselves for maximum impact today and in the future.​ 

    Our deep industry expertise is used to assemble these systems from a broad range of proven components and next generation technologies.

    https://www.valantic.com/fsa

    Media Contacts
    Xavier Sarras  
    Head of Brand and Market Development  
    Xavier.Sarras@extern.fsa.valantic.com 

    Melanie Budden
    The Realization Group
    melanie.budden@therealizationgroup.com

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    The MIL Network

  • MIL-OSI Russia: A large gas control station has been modernized in the south of Moscow

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Specialists from the city economy complex have modernized a large gas regulation point (GRP) “Moskvorechye kv. G” in the south of the capital. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “The city is conducting systematic work to update gas pressure control points, which are responsible for reducing gas pressure to certain values and maintaining them within specified limits. We have repaired the gas pressure control point “Moskvorechye kv. G”, which provides gas supply to public utilities and the residential sector of the Moskvorechye-Saburovo district,” said Pyotr Biryukov.

    The decision to modernize the GRP was made due to the long service life of the equipment. It was replaced with a modern cabinet-type gas control station with a capacity of 970 cubic meters per hour. It is made from Russian components at the in-house production of Mosgaz JSC. The new GRP is reliable, has reduced noise characteristics and meets all safety requirements.

    All gas control points in the capital are necessarily equipped with shut-off devices. Their operating parameters are monitored 24 hours a day from the central control room, which allows for real-time management of the city’s gas industry.

    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/154851073/

    MIL OSI Russia News

  • MIL-OSI: Planisware expands into Belgium to support the sustained growth of its business in the Benelux region

    Source: GlobeNewswire (MIL-OSI)

    Planisware expands into Belgium to support the sustained growth of its business in the Benelux region

    Paris, France, June 5, 2025 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, continues its international expansion with the opening of a new office in Belgium.

    Planisware has been present in the Benelux region for several years, through projects carried out for leading clients such as Galapagos, KLM, Philips, and Engie, and is now consolidating its position in this strategic, fast-growing market. In particular, the Group has seen a sharp increase in its business in this market, with revenue doubling over the last four years, testifying to the relevance of its expertise and the confidence of its customers.

    This new location is primarily intended to strengthen proximity to Planisware’s customers and other economic players in the Benelux region (Belgium, the Netherlands and Luxembourg), a dynamic market that is home to around 1,200 target companies, nearly half of which having annual revenue in excess of one billion euros, particularly in high-growth sectors such as manufacturing (chemicals, food processing and industrial equipment), retail and financial services.

    With this new location, Planisware strengthens its proximity to customers and its expertise in local challenges. With its enhanced visibility, Planisware will be able to accelerate new signatures and sustainably support the Group’s growth in the region.

    Loïc Sautour, CEO of Planisware, commented: “We are proud to announce Planisware’s arrival in Belgium, which marks a key milestone in our continued expansion in Europe. It will strengthen our existing customer base while supporting our growth in the region. Over the years, we have built up a solid network of partners and customers in the Benelux, and this subsidiary is a natural fit with this dynamic. It will also create local jobs and strengthen our ties with all market players.”

    “International expansion has been at the heart of our growth strategy since Planisware’s launch,” says co-founder Yves Humblot. “Today, Benelux is emerging as a key region in our roadmap: it’s an ecosystem recognized for its culture of innovation and operational excellence.”

    Planisware’s new subsidiary in Belgium will be headed by Benoît Soulier (46). With over seven years’ experience in project management at Planisware, he brings solid expertise in the management of complex portfolios and projects, particularly in the pharmaceutical, industrial and public sectors. He has worked with companies such as UCB, Eurocontrol and the Walloon Public Service (SPW) in Belgium, as well as BDR Thermea in the Netherlands. Before joining Planisware, he spent four years at Sopra Group, where he contributed to the deployment of numerous complex projects. Benoît Soulier holds a degree in computer engineering from Telecom Nancy.

    Contact

    Investor Relations: Benoit d’Amécourt

    benoit.damecourt@planisware.com
    +33 6 75 51 41 47

    Media: Brunswick Group
    Hugues Boëton / Tristan Roquet Montégon
    planisware@brunswickgroup.com
    +33 6 79 99 27 15 / +33 6 37 00 52 57

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products.

    With circa 750 employees across 18 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”).

    For more information, visit planisware.com and connect with Planisware on LinkedIn.

    Attachment

    The MIL Network

  • MIL-OSI: Point and Funds Managed by Blue Owl Capital Close Oversubscribed $248 Million Home Equity Investment Rated Securitization

    Source: GlobeNewswire (MIL-OSI)

    Palo Alto, California, June 05, 2025 (GLOBE NEWSWIRE) — Point, the leading home equity investment platform making homeownership more valuable and accessible, and funds managed by Blue Owl Capital (“Blue Owl”) announced today that they have completed a rated securitization of Point’s Home Equity Investment (“HEI”) assets, issuing $248.6 million of rated asset-backed securities (the “Transaction”). The Transaction is Point’s fourth rated securitization and fifth overall.

    The Transaction closed on May 23, 2025. The issuer, Point Securitization Trust 2025-1, issued $162.2 million of senior class A-1 securities rated A (low) (sf), $35 million of mezzanine class A-2 securities rated BBB (low) (sf), $28.3 million of subordinate class B-1 securities rated BB (low) (sf), and $23.1 million of subordinate class B-2 securities rated B (high) (sf) (retained), all rated by Morningstar DBRS. A portion of the notes were acquired by accounts managed by an affiliate of Blue Owl. The Transaction drew significant interest from both new and repeat institutional investors, resulting in the Transaction being more than 8x oversubscribed. Co-sponsoring the Transaction with a subsidiary of Blue Owl, Point was the originator of all the HEIs in the securitization and will continue to service the assets.

    “This past year has been transformative—for Point and for the entire HEI space,” said Eddie Lim, co-founder and CEO of Point. “Investor demand has never been stronger, and the performance of our deals continues to outperform expectations. Our latest securitization was met with overwhelming enthusiasm, reinforcing that HEIs aren’t just gaining traction—they’re reshaping how homeowners access equity. We’re just scratching the surface of what’s possible.”

    Over the past 18 months, the rated securitization space for HEIs has entered a new phase of maturation. With multiple HEI-backed deals successfully rated, the asset class is seeing increased institutional recognition and investor confidence, with issuance volume doubling and the number of transactions tripling in 2024 alone[1]. According to Finsight[2], HEI-backed deals totaled $936 million across five transactions last year—up significantly from prior years. These transactions have helped set important benchmarks for credit quality, structure, and performance, signaling a shift from emerging to established within the alternative housing finance landscape.

    “The Blue Owl Alternative Credit team and Point have a longstanding relationship dating back to 2018, and we are excited to continue our partnership with the Point team,” said Ivan Zinn, Head of Alternative Credit at Blue Owl. “This marks the second Point transaction that Blue Owl has co-sponsored, and we look forward to doing many more together. The success of this transaction is a testament to the Point platform and validates the thesis that HEIs will continue to be a growing asset class.” 

    Barclays Capital Inc. (“Barclays”) was the sole-structuring agent for the issuance. Barclays, Citigroup Global Markets Inc., and Nomura Securities International Inc. were joint bookrunners on the Transaction, and East West Markets, LLC and Cantor Fitzgerald & Co. were co-managers on the Transaction.

    About Point

    Point is the leading home equity platform making homeownership more valuable and accessible. Point’s flagship product, the Home Equity Investment (HEI), empowers homeowners to unlock their equity to eliminate debt, get through periods of financial hardship, and diversify their wealth – without adding to their monthly expenses. Point has worked with more than 15,000 homeowners, unlocking more than $1.5 billion in home equity. Point’s HEI enables investors to access a previously untapped asset class – owner-occupied residential real estate. Founded in 2015 by Eddie Lim, Eoin Matthews, and Alex Rampell, Point is backed by top investors, including Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Blue Owl Capital, Alpaca VC, and Prudential. The company is headquartered in Palo Alto, CA. For more information, please visit www.point.com

     Blue Owl Capital
    About Blue Owl: Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $273 billion in assets under management as of March 31, 2025, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Assets. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation. 

    Together with over 1,200 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.


    [1] Source: https://www.hel.news/articles/mbs/q4-issuance-010225

    [2] Source:

    https://www.globalcapital.com/securitization/article/2egjdeyqx5732y19mm8sg/securitization/rmbs-us/hei-nears-tipping-point-as-investors-warm-on-sector?

    The MIL Network

  • Indian delegation reaffirms anti-terror resolve during high-level meetings in US

    Source: Government of India

    Source: Government of India (4)

    An all-party Indian parliamentary delegation on Wednesday held a series of high-level meetings in Washington to underscore India’s firm stand against Pakistan-sponsored cross-border terrorism.

    After their arrival on late Tuesday, the Indian delegation began their official engagements on Wednesday, which included meetings with US Congress members, policy leaders and members of the Indian Diaspora.

    The delegation, led by Congress MP Shashi Tharoor, held discussions with the leadership of the Foreign Relations Committee of the US House of Representatives and members of the India Caucus, and later met Republican Chair of the Foreign Affairs Committee, Brian Mast, and Democratic Ranking Member Gregory Meeks, among others.

    Gregory Meeks, the Democratic Ranking Member, said, “Pleasure to host Chairman Shashi Tharoor & members of the Indian Parliamentary Standing Committee on Foreign Affairs. My colleagues & I expressed condolences for the terrorist attack in Pahalgam & reaffirmed Congress’s commitment to the US-India partnership.”

    During the interactions, the delegation briefed American lawmakers on Operation Sindoor and India’s stance against cross-border terrorism.

    According to the Indian Embassy, “The Parliamentary delegation briefed the committee members on the success of Operation Sindoor in defining a new normal in India’s fight against cross-border terrorism.”

    The US House Committee leadership condemned the recent terrorist attack in Pahalgam unequivocally, reiterating the United States’ solidarity with India.

    “India and the USA stand together in their unwavering resolve and fight against terrorism in all its forms,” said the Indian Embassy.

    The Indian parliamentarians also held talks with Congressmen Ro Khanna and Rich McCormick, co-chairs of the House India Caucus, and Senators Mark Warner and John Cornyn, co-chairs of the Senate India Caucus.

    Senator Cornyn shared on X, “Good meeting with Indian parliamentary delegation about US-India relationship.”

    Tharoor appreciated the interactions, stating, “Great to meet you and your Senate Foreign Relations Committee colleagues, Senate Rich McCormick! We greatly valued all of you finding the time for us on a busy day and expressing your solidarity with our fight against terrorism. We also appreciated your enthusiasm for greater and stronger cooperation between our countries on a wide range of areas. The potential is unlimited!”

    Congressman Ro Khanna also reiterated bipartisan support for India’s fight against terror, saying, “United States has a bipartisan commitment to the India relationship and stands with India to dismantle these terrorist networks in Pakistan.”

    Tharoor acknowledged Khanna’s support and said it was “terrific” to meet him, adding that the delegation was “grateful for the strong support of the India Caucus” in the House of Representatives.

    Later in the day, the delegation met members of the Indian diaspora.

    “The All Party delegation led by Shashi Tharoor met prominent members of the Indian diaspora in USA. The delegation spoke about India’s resolute and united stand against terrorism and the new normal created by India through Operation Sindoor. The Indian diaspora members shared their message of solidarity with the victims of terrorism and support for India’s fight against terrorism,” said the Indian embassy.

    At a news conference, Tharoor said that India received “total support and solidarity” in fighting terrorism from US lawmakers whom the delegation met on Wednesday.

    “We didn’t have a single sceptical or negative voice,” he said. “On the contrary, what we got was very, very positive responses.”

    There was “total support and solidarity for India and its fight against terrorism” and expressions of “complete understanding of India’s right to defend itself against terrorism,” Tharoor said.

    “Broadly speaking, we have left the hill very pleased with the quality of the conversations the level of interest,” he added.

    “On the hill, there was a fairly bi-partisan acceptance that as largest, vibrant, very diverse democracies, both nations together, have a lot to offer to the world. This agenda of economics is the core point,” but it also relates to “a larger, longer-term play of democracy across the world is central,” he said.

    Tharoor also urged the Indian diaspora to speak up with their members of US Congress for India.

    “They will listen to you,” he said. “They are conscious of you. They respect you. You’re all very, very high achievers, and people can do significant things. We are proud of you.”

    During the two-day visit, the Indian representatives will continue their meetings with members of the US Congress and administration, think tanks, media, and key policymakers.

    The Embassy emphasised that the delegation aims to build consensus and deepen strategic cooperation on shared security priorities.

    Apart from Tharoor, the delegation includes Lok Janshakti Party-Ram Vilas MP Shambhavi Choudhary, Jharkhand Mukti Morcha’s Sarfaraz Ahmad, Shiv Sena’s Milind Murli Deora; BJP’s Shashank Mani Tripathi, Bhubaneswar Kalita, and Tejasvi Surya; and Telugu Desam Party’s GM Harish Balayogi. Former Indian Ambassador to the US, Taranjit Singh Sandhu, is also accompanying the delegation.

    (With inputs from IANS)

  • Indian stock market opens in green amid mixed global cues

    Source: Government of India

    Source: Government of India (4)

    The domestic benchmark indices opened higher on Thursday amid mixed global cues, with buying seen in the pharmaceutical, automotive and IT sectors in early trading.

    At approximately 9:29 am, the Sensex was trading 268.8 points, or 0.33 per cent, higher at 81,267.09, while the Nifty added 82.75 points (0.34 per cent) to reach 24,702.95.

    The Nifty Bank was down 29.70 points, or 0.05 per cent, at 55,647.15. The Nifty Midcap 100 index was trading at 58,188, having risen 263.35 points (0.45 per cent). The Nifty Smallcap 100 index was at 18,398.75 after climbing 141.65 points (0.78 per cent).

    According to analysts, the Nifty ended higher on Wednesday and the India VIX fell by nearly 5 per cent, a development that bulls would have liked to see.

    “For the Nifty, 24,462 remains intact and that’s keeping optimism alive. Should this level break, the market will most likely drop to its key support at 23,800. Short-term resistance sits between 24,760 and 24,882. Globally, stock bulls have tailwinds,” said Akshay Chinchalkar, Head of Research at Axis Securities.

    Meanwhile, in the Sensex pack, Eternal, PowerGrid, M&M, HDFC Bank, HCL Tech, TCS, IndusInd Bank and Kotak Mahindra Bank were the top gainers. Conversely, Nestle India, Titan, Bajaj Finance, Tata Motors and Tech Mahindra were the top losers.

    According to analysts, both geopolitical and economic news are likely to weigh on markets in the near term.

    “The major economic news is the sharp dip in the US ISM PMI data. This indicates that the US economy is slowing down sharply. The US 10-year bond yield has declined to 4.36 per cent and, given the slowing US economy, is likely to trend lower,” according to Dr V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd.

    “This will turn out to be good for emerging markets (EMs) like India in the medium term. ‘Buy on dips’ continues to be the ideal strategy for now. Rate-sensitive stocks will be preferred in view of the expected rate cut by the RBI MPC,” said experts.

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

    In the last trading session in the US, the Dow Jones closed at 42,427.74, down 91.90 points (0.22 per cent). The S&P 500 ended with a gain of 0.44 points (0.01 per cent) at 5,970.81, and the Nasdaq closed at 19,460.49, up 61.53 points (0.32 per cent).

    On the institutional front, foreign institutional investors (FIIs) were net buyers, purchasing equities worth ₹1,076.18 crore on 4 June, while domestic institutional investors (DIIs) purchased equities worth ₹2,566.82 crore.

    (IANS) 

  • MIL-OSI New Zealand: A game-changer for Colin Maiden Park

    Source: Auckland Council

    Proposed development at Auckland’s Colin Maiden Park in St Johns will see a new home for domestic cricket and improved facilities for community sport.

    Ōrākei Local Board has agreed on the terms of a proposal from Auckland Cricket that will see significant upgrades at the park to support the relocation of its domestic cricket operations.

    The work includes a full upgrade of the main oval, the construction of a Cravo – a high-performance, all-weather grass training facility, the refurbishment and fit-out of the vacant office building, construction of supporting infrastructure for the hosting of domestic cricket, and upgrades to existing club and changing rooms. 

    Longer-term plans also include new multi-sport change rooms and shared club rooms for the Auckland University Cricket Club.

    “It’s taken some time to agree on an arrangement that balances the needs of high-performance and community sport,” says Ōrākei Local Board chair Scott Milne.

    “But, it’s been worth the wait and we believe this deal is a win-win situation. Auckland Cricket’s investment will deliver high performance and also allow Ōrākei Local Board to upgrade other sports fields in the area earlier than would have otherwise been possible.

    “The proposed upgrades will allow Auckland to benefit from a purpose-built venue for cricket, the likes of which Christchurch has enjoyed for many generations at Hagley Park.”

    Works are expected to begin on the main oval later this year for Auckland Cricket to be operational at Colin Maiden for the 2026/2027 season.

    This arrangement aligns with the Ōrākei Local Board Plan 2023 and its aspirations to establish multi-use sport facilities in this area.

    Auckland Cricket will be required to meet all conditions set out by the local board before works commence, including provision for the loss of hours of community sports field use

    “This is an important step towards securing a bright future for cricket in Auckland,” says Auckland Cricket Association chief executive Ian Francis.

    “There is a lot more work to do – however it is fantastic to have the support of the Local Board for what is an extremely detailed, well-considered plan to transform the existing sporting precinct at Colin Maiden Park into a modern, future-proofed community asset capable of supporting high-performance cricket.”

    In addition to providing a fit-for-purpose venue for domestic cricket and enhanced community facilities, the relocation supports a more strategic use of regional assets. It will allow Eden Park to focus on hosting international cricket and major events – a move consistent with Auckland Council’s Stadium Investment Objectives, which aim to optimise infrastructure use, support a network of complementary, multi-use venues, and improve long-term financial sustainability.

    Colin Maiden Park is a key regional sports facility, providing essential infrastructure for both grassroots and high-performance sport.  The wider precinct is currently home to Auckland Hockey, Auckland Netball, Oceania Football Confederation and Auckland Tennis.  The proposed development would further reinforce Colin Maiden Park’s role as a regionally significant sporting precinct.

    Auckland Cricket’s proposal is for the use of the park for domestic cricket only, all international cricket formats will remain at Eden Park.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Auckland Council backs environmental stars with a burst of funding

    Source: Auckland Council

    Sixty-four conservation projects carried out by mana whenua and community groups around Tāmaki Makaurau have received Auckland Council funding in the current financial year to help protect, restore and enhance the natural environment.

    Another 44 projects will also receive funding over the next two years.

    Community Committee chair, Councillor Angela Dalton says a new streamlined process has delivered support for environmental-related projects this year where it is needed most to help achieve regional Tāmaki Makaurau conservation and water quality goals.

    “We have clearer visibility on where funding will make the biggest difference and the application process is now easier for the groups who work on environmental projects to be considered for funding opportunities,” Cr Dalton says.    

    On 27 May, the council’s Community Committee members approved $731,000 in funding to help support the goals of 23 community groups working to protect and restore the environment, through the 2024/2025 Regional Environment and Natural Heritage (RENH) grant.

    General Manager Environmental Services Samantha Hill says grants ranging from $5,800 to $85,000 have been allocated to projects that will help to protect and restore native ecosystems, grow community involvement and contribute to Māori outcomes.

    “One of the projects delivers pest control to help long-tailed bats living in Franklin; another supports mana whenua-led conservation work on Aotea / Great Barrier Island, and several other groups are carrying out ongoing predator control and native habitat restoration to support a range of threatened native species,” says Ms Hill.

    “With the invaluable work these community groups are doing, we will see significant steps in progress to protect, improve and minimise risks to our natural environment. It is important for us to continue to recognise and support the tireless commitment given by these dedicated community-led conservation groups and their many volunteers.”

    A separate group of 23 projects have also been approved with Community Coordination and Facilitation grants from the Natural Environment Targeted Rate (NETR) for region-wide and large-scale conservation activities.

    Last year, $1 million delivered in grants supported by the Natural Environment Targeted Rate delivered a $6.10 return for each $1 invested on projects benefiting the natural environment.

    Finally, an additional 18 projects will receive a share of ​$1,222,268 in funding from the council’s Healthy Waters department to support environmental projects in 2024/25. These projects will enhance water quality and improve flood resilience.

    All applications were rigorously assessed against key criteria. Fair distribution across the region was also considered in recommendations made for grant allocations. Projects have been approved for funding in all local board areas.

    Year

    Grant Name

    Allocation

    2024/25

    Regional Environment and Natural Heritage (23 applicants)

    $  731,000

    2024/25

    2025/26

    2026/27

    Community Coordination and Facilitation (23 applicants)

    (23 applicants)

    (21 applicants)

    $  973,800

    $  773,000

    $  702,000

    2024/25

    Water Quality and Flood Resilience (18 applicants)

    $1,222,268

    More detail on the environmental projects Auckland Council is supporting in this financial year, and in 2025/26 and 2026/27 is available in this PDF document.   

    MIL OSI New Zealand News

  • MIL-OSI Asia-Pac: President Lai confers decoration on President Hilda C. Heine of Republic of the Marshall Islands, hosts state banquet  

    Source: Republic of China Taiwan

    Details
    2025-06-03
    President Lai and President Hilda C. Heine of Marshall Islands hold bilateral talks and witness signing of agreements
    On the morning of June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Hilda C. Heine of the Republic of the Marshall Islands at the Presidential Office following a welcome ceremony with military honors for her and her husband. The leaders also jointly witnessed the signing of a letter of intent for sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund. President Lai then presided over a launch ceremony for a loan program to purchase aircraft. In remarks, President Lai thanked the government and the Nitijela (parliament) of the Marshall Islands for their longstanding support for Taiwan’s international participation and for voicing staunch support for Taiwan at numerous international venues. President Lai said that Taiwan looks forward to continuing to deepen its diplomatic partnership with the Marshall Islands and build an even closer cooperative relationship across a range of fields, engaging in mutual assistance for mutual benefits and helping each other achieve joint and prosperous development to yield even greater well-being for our peoples. A translation of President Lai’s remarks follows: I once again warmly welcome President Heine, First Gentleman Thomas Kijiner, Jr., and our guests to Taiwan. During my visit to the Marshall Islands last year, I said that Taiwan and the Marshall Islands are truly a family. When Vice President Hsiao and I took office last year, President Heine led a delegation to Taiwan. It is now one year since our inauguration, and I am delighted to see President Heine once again, just as if I were seeing family arrive from afar. Through my visit to the Marshall Islands, I gained a profound sense of the friendship between the peoples of our two nations, well-demonstrated by bilateral exchanges in such areas as healthcare, agriculture, and education. And it is thanks to President Heine’s longstanding support for Taiwan that our countries have been able to further advance collaboration on even more issues, including women’s empowerment and climate change. In recent years, the geopolitical and economic landscape has changed rapidly. We look forward to Taiwan and the Marshall Islands continuing to deepen our partnership and build an even closer cooperative relationship. In just a few moments, President Heine and I will witness the signing of several documents, including a memorandum of understanding and a letter of intent, to expand bilateral cooperation in such fields as sports, education, and transportation. Taiwan will take concrete action to work with the Marshall Islands and advance mutual prosperity and development, writing a new chapter in our diplomatic partnership. I would also like to take this opportunity to express gratitude to the government and Nitijela of the Marshall Islands. In recent years, the Nitijela has passed annual resolutions backing Taiwan’s international participation, and President Heine and Marshallese cabinet members have been some of the strongest advocates for Taiwan’s international participation, voicing staunch support for Taiwan at numerous international venues. Building on the pillars of democracy, peace, and prosperity, Taiwan will continue to work with the Marshall Islands and other like-minded countries to deepen our partnerships, engage in mutual assistance for mutual benefits, and help one another achieve joint and prosperous development. I have every confidence that the combined efforts of our two nations will yield even greater well-being for our peoples and see us make even more contributions to the world. President Heine then delivered remarks, and began by conveying warm greetings of iokwe from the people and government of the Republic of the Marshall Islands to the people and government of the Republic of China (Taiwan). She said she was deeply honored to be in Taiwan for an official visit, and extended appreciation to President Lai and his government for their gracious invitation and warm welcome. President Heine stated that this year marks 27 years of diplomatic ties between our two nations, and that they are proud of this enduring friendship. This special and enduring relationship, she said, is grounded in our shared Austronesian heritage, and strengthened by mutual respect for each other’s democratic systems and our steadfast commitment to the core values of freedom, justice, and the rule of law. President Heine stated that Taiwan’s continued support has been invaluable to the people and national development of the Marshall Islands, particularly in the areas of health, education, agriculture, and climate change. She also expressed deep appreciation to Taiwan for providing Marshallese students with opportunities to study in Taiwan, and for the care extended to Marshallese who travel here for medical treatment. President Heine also announced that she would be presenting a copy of a resolution by the people and government of the Republic of the Marshall Islands reiterating their appreciation for the support provided by the people and government of the Republic of China (Taiwan), and calling on the United Nations to take immediate action to resolve the inappropriate exclusion of Taiwan’s 23 million people from the UN system. She added that she looked forward to the bilateral discussions later that day, and to continuing the important work that both countries carry out together. After the bilateral talks, President Lai and President Heine witnessed the signing of a letter of intent regarding sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund by Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Marshallese Minister of Foreign Affairs and Trade Kalani R. Kaneko. President Lai then presided over a launch ceremony for a loan program to purchase aircraft, marking the formal beginning of Taiwan-Marshall Islands air transport cooperation. The visiting delegation also included Council of Iroij Chairman Lanny Kabua, Minister of Finance David Paul, and Nitijela Standing Committee on Foreign Affairs and Trade Chair Joe Bejang. They were accompanied to the Presidential Office by Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.

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    2025-06-03
    President Lai welcomes President Hilda C. Heine of Republic of the Marshall Islands with military honors  
    President Lai Ching-te welcomed President Hilda C. Heine of the Republic of the Marshall Islands and her husband on the morning of June 3 with full military honors. In remarks, President Lai thanked President Heine and the people and government of the Marshall Islands for demonstrating such high regard for our nations’ diplomatic ties. The president said that over our 27 years of diplomatic relations, our cooperation in healthcare, agriculture, fisheries, education and training, and climate change has yielded many positive results. And moving ahead, he said, Taiwan will continue to deepen collaboration across all domains for mutual prosperity and growth. The welcome ceremony began at 10:30 a.m. in the plaza fronting the Presidential Office. President Lai and President Heine each delivered remarks after a 21-gun salute, the playing of the two countries’ national anthems, and a review of the military honor guard. A translation of President Lai’s remarks follows: On behalf of the people and government of the Republic of China (Taiwan), it is a great pleasure to welcome President Heine, First Gentleman Thomas Kijiner, Jr., and their delegation with full military honors as they make this state visit to Taiwan. When I traveled to the Marshall Islands on a state visit last December, I was received with great warmth and courtesy. I once again thank President Heine and the people and government of the Marshall Islands for demonstrating such high regard for our nations’ diplomatic ties. Taiwan and the Marshall Islands share Austronesian cultural traditions, and we are like-minded friends. Throughout our 27 years of diplomatic relations, we have always engaged with each other in a spirit of reciprocal trust and mutual assistance. Our cooperation in healthcare, agriculture, fisheries, education and training, and climate change has yielded many positive results. This is President Heine’s first state visit to Taiwan since taking office for a second time. We look forward to engaging our esteemed guests in in-depth discussions on issues of common concern. And moving ahead, Taiwan will continue to deepen collaboration with the Marshall Islands across all domains for mutual prosperity and growth. In closing, I thank President Heine, First Gentleman Kijiner, and their entire delegation for visiting Taiwan. I wish you all a pleasant and successful trip.  A transcript of President Heine’s remarks follows: Your Excellency President Lai Ching-te, Vice President [Bi-khim] Hsiao, honorable members of the cabinet, ambassadors, distinguished guests, ladies and gentlemen: It is my pleasure to extend warm greetings of iokwe on behalf of the people and the government of the Republic of the Marshall Islands. I wish to also convey my appreciation to Your Excellency President Lai, for the hospitality and very warm welcome – kommol tata. This visit marks my seventh official state visit to this beautiful country. It’s a testament to my strong commitment to further deepening ties between the Republic of the Marshall Islands and the Republic of China (Taiwan). During this visit, I look forward to engaging in meaningful discussions with Your Excellency President Lai to further strengthen the bilateral relationship between our two nations and our peoples.  For over a quarter-century, Taiwan has been a strong ally and friend to the Marshall Islands. Our partnership has thrived across many sectors, including education, healthcare, infrastructure, and economic development. Through Taiwan’s generous support and collaboration, we have made significant progress in improving the lives of our people, empowering our communities, and fostering sustainable growth. The Marshall Islands deeply values our partnership with Taiwan and appreciates Taiwan’s support over the years. Despite our small size and limited voice on the global stage, the Marshall Islands deeply cherishes our friendship with Taiwan, and to that end, I wish to reaffirm my government’s commitment to Taiwan’s meaningful participation in the United Nations system. Taiwan has consistently demonstrated its commitment to the principles of democracy, human rights, and the rule of law. In light of current constraints in global affairs, it is now more urgent than ever that the international community of nations recognize the fundamental rights of the 23 million Taiwanese people and recognize Taiwan’s aspiration to engage fully in global affairs. It is with this in mind that I wish to reiterate to Your Excellency President Lai, the Taiwanese people, and the world that under my government, Marshall Islands will continue to acknowledge Taiwan’s contribution on the global stage and urge like-minded countries to advocate for Taiwan’s meaningful engagement in the international arena. In closing, may I once again extend our sincere appreciation to Your Excellency President Lai, the people and government of the Republic of China (Taiwan), for your warm welcome.  Also in attendance at the welcome ceremony were Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands, 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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    2025-05-29
    President Lai attends 2025 Europe Day Dinner
    On the evening of May 29, President Lai Ching-te attended the 2025 Europe Day Dinner. In remarks, President Lai stated that Taiwan looks forward to further establishing institutionalized mechanisms with Europe for our trade and investment ties and hopes to take an innovative and diverse approach to sign an economic partnership agreement with the European Union, to provide a more transparent, stable, and predictable business environment for our enterprises. The president said that Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains, and noted that Taiwan and Europe have endless potential for collaboration, whether it is in safeguarding freedom and democracy or advancing our economic and trade relationship. He expressed hope to further strengthen our partnership and work together toward global peace, stability, and prosperity. A transcript of President Lai’s remarks follows: Chairman [Henry] Chang (張瀚書), thank you for the invitation, and congratulations on your second term. I’m confident that under your leadership, the ECCT [European Chamber of Commerce Taiwan] will build even more bridges for cooperation between Taiwan and Europe. I would also like to thank EETO [European Economic and Trade Office] Head [Lutz] Güllner and all the European country representatives stationed in Taiwan. Your hard work over the years has helped deepen Taiwan-Europe relations and brought about such fruitful cooperation. Thank you. This year we celebrate the 75th anniversary of the Schuman Declaration. In 1950, then-French Foreign Minister Robert Schuman proposed to create a European federation dedicated to preserving peace. The declaration symbolized a new flowering in the post-war era of democracy, unity, and cooperation. As we face the geopolitical challenges and drastic economic changes of today’s world, the Schuman Declaration still speaks to us profoundly. This year is also the 80th anniversary of the end of World War II in Europe. Moving forward, Taiwan will continue to advance cooperation with our democratic partners, and will join hands with Europe to build a partnership of even greater resilience and mutual trust. Europe is Taiwan’s third largest trading partner. It is also Taiwan’s largest source of foreign direct investment. Last year, bilateral trade between Taiwan and Europe totaled US$84.7 billion. This demonstrates our vibrant economic and trade ties and reflects the high levels of confidence our businesses have in each other’s markets and systems. We look forward to Taiwan and Europe further establishing institutionalized mechanisms for our trade and investment ties. And we hope to take an innovative and diverse approach to sign an economic partnership agreement with the EU, to provide a more transparent, stable, and predictable business environment for our enterprises. Today’s Taiwan has an internationally recognized democracy and a semiconductor industry vital to global security and prosperity. This enables us to play a key role in restructuring global democratic supply chains and the economic order. In particular, we see supply chains dominated by a new authoritarian bloc expanding their influence through non-market mechanisms, price subsidies, and monopolies on resources, as they seek global control of critical technologies and manufacturing capabilities. Their actions not only distort principles of market fairness, but also threaten the international community’s basic expectations for democracy, the rule of law, and corporate responsibility. In response, Taiwan will actively work alongside other democracies, including those in Europe, to jointly build resilient, promising non-red supply chains. We will also introduce an initiative on semiconductor supply chain partnerships for global democracies. This is more than a proposal for economic cooperation; it is an alliance of shared values and advanced technology. Security in the Taiwan Strait and regional peace and stability have always been issues of mutual interest for Taiwan and Europe. So here today, on behalf of all the people of Taiwan, I would like to thank the EU and European nations for continuing to take concrete actions in public support of peace and stability across the strait. Such actions are vital to regional security and prosperity. Taiwan will continue to bolster itself to achieve real peace through strength, and will work with democratic partners to safeguard freedom and democracy, thereby showing our determination for regional peace. At this critical time, Taiwan and Europe have endless potential for collaboration, whether it’s in safeguarding freedom and democracy or advancing our economic and trade relationship. I look forward to our joining hands at this strategic juncture to further strengthen our partnership and work together toward global peace, stability, and prosperity. Also in attendance at the event was British Office Taipei Representative Ruth Bradley-Jones.

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    2025-05-28
    President Lai meets US delegation led by Senator Tammy Duckworth
    On the afternoon of May 28, President Lai Ching-te met with a delegation led by United States Senator Tammy Duckworth. In remarks, President Lai thanked the US Congress and government for their longstanding and bipartisan support for Taiwan. The president stated that Taiwan will continue to strengthen cooperation with the US and jointly safeguard regional peace and stability. He pointed out that the Taiwan government has already proposed a roadmap for deepening Taiwan-US trade ties and will encourage mutual investment between Taiwanese and US businesses. He then expressed hope of deepening Taiwan-US ties and creating more niches for both sides. A translation of President Lai’s remarks follows: I warmly welcome this delegation led by Senator Duckworth, a dear friend of Taiwan. Senator Duckworth previously visited in May last year to convey congratulations after the inauguration of myself and Vice President Bi-khim Hsiao. Your bipartisan delegation was the first group from the US Senate that I met with as president. Today, you are visiting just after the first anniversary of my taking office, demonstrating the staunch support of the US and our deep friendship. On behalf of the people of Taiwan, I extend my sincere appreciation and greetings. And I invite you to come back and visit next year, the year after that, and every year. Taiwan and the US share the values of democracy and the rule of law and believe in free and open markets. Both sides embrace a common goal of peace, stability, and prosperity in the Indo-Pacific region. I thank the US Congress and government for their longstanding, bipartisan, and steadfast support for Taiwan. In 2021, to help Taiwan overcome the challenges of the COVID-19 pandemic, Senator Duckworth made a special trip here to announce that the US government would be donating vaccines to Taiwan. In recent years, Senator Duckworth has also promoted the TAIWAN Security Act, STAND with Taiwan Act, and Taiwan and America Space Assistance Act in the US Congress, all of which have further deepened Taiwan-US cooperation and steadily advanced our ties. For this, I express my deepest appreciation. I want to emphasize that the people of Taiwan have an unyielding determination to protect their homeland and free and democratic way of life. Over the past year, the government and private sector have been working together to enhance Taiwan’s whole-of-society defense resilience. The government is committed to reforming national defense, and it has proposed prioritizing special budget allocations to ensure that our defense budget exceeds three percent of GDP. This will continue to bolster Taiwan’s self-defense capabilities. Moving forward, Taiwan will continue to strengthen cooperation with the US. In addition to jointly safeguarding regional peace and stability, we also aspire to deepen bilateral trade and economic ties. At the SelectUSA Investment Summit in Washington, DC, earlier this month, Taiwan’s delegation was once again the biggest delegation attending the event – proof positive of our close economic and trade cooperation. We have already proposed a roadmap for deepening Taiwan-US trade ties. We will narrow the trade imbalance through the procurement of energy and agricultural and other industrial products from the US. We will encourage mutual investment between Taiwanese and US businesses to stimulate industrial development on both sides, especially in such industries as national defense and shipbuilding. We therefore look forward to Congress passing the US-Taiwan Expedited Double-Tax Relief Act as soon as possible, as this would deepen Taiwan-US trade ties and create more niches for business. In closing, I once again thank Senator Duckworth for making the trip to Taiwan. Let us continue to work together to elevate Taiwan-US ties. I wish you a pleasant and successful visit. Senator Duckworth then delivered remarks, saying that she is happy to be back in Taiwan and that she wanted to make sure to come back just after President Lai’s one-year anniversary of taking office to show the dedication and the outstanding friendship that we have. She noted that because no matter who is in the White House, no matter which political party is in power in Washington, DC, she has always believed that if America wants to remain a leader on the global stage, it has to show up for friends like Taiwan.  Senator Duckworth mentioned that in the years that she has been coming to Taiwan since pre-COVID times, she has seen a remarkable increase in participation in its defense and the support of the Taiwanese people for defending the homeland. She then thanked Taiwan for making the commitment to its self-defense, and also for being a partner with other nations around the world.  The STAND with Taiwan Act, the senator noted, is so named because the US wants to stand side by side with Taiwan. Pointing out that Taiwan is an important leader in the Indo-Pacific and on the global stage, she reiterated that there is support on both sides of the aisle in Washington for Taiwanese democracy, and added that the people of Taiwan are showing that they are willing to shore up their own readiness. Senator Duckworth said that whether it is delivering vaccines to Taiwan or making sure that the US National Guard works with Taiwan’s reserve forces or even with its civilian emergency response teams, these are all important components to the ongoing partnership between our nations.  Senator Duckworth indicated that there are many great opportunities moving forward beyond our military cooperation with one another. Whether it is in chip manufacturing, agricultural investments, shipbuilding, or in the healthcare field, those investments in both nations will facilitate stability and development in both our nations. She said that is why she wants to continue the Taiwan-US relationship, underlining that they are in it for the long haul. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.

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    2025-05-27
    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman
    On the afternoon of May 27, President Lai Ching-te met with a delegation led by Chair of the Natural Resources Committee of the United States House of Representatives Bruce Westerman. In remarks, President Lai stated that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. The president said that Taiwan will continue to increase purchases from and together build non-red supply chains with the US, expressing hope that economic and trade relations grow even closer and that both work together to jointly safeguard peace and stability throughout the region. A translation of President Lai’s remarks follows: I am delighted to meet and exchange views with members of the US House Committee on Natural Resources today. Chair Westerman, the leader of this delegation, is an old friend of Taiwan. On behalf of the people of Taiwan, I extend a very warm welcome to the delegation. I also want to thank you all for your long-term close attention to Taiwan-related affairs and your strong support for Taiwan. Taiwan and the US enjoy close ties and share ideals and values. There is an excellent foundation for cooperation between us, particularly in such areas as energy, the economy and trade, agriculture and fisheries, environmental protection, and sustainable development. In recent years, Taiwan-US ties have grown closer and closer. The US has become Taiwan’s largest destination for overseas investment, accounting for over 40 percent of Taiwan’s outbound investment. Taiwan is also the seventh largest trading partner of the US and its seventh largest export market for agricultural products. The SelectUSA Investment Summit held in Washington, DC earlier this month was the largest in its history. Taiwan’s delegation, representing 138 enterprises, was once again the biggest delegation attending the event. This shows that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. Looking ahead, with the global landscape changing rapidly, Taiwan will continue to increase purchases from the US, including energy resources such as natural gas and petroleum, as well as agricultural products, industrial products, and even military procurement. This will not only help balance our bilateral trade, but also strengthen development for Taiwan in energy autonomy, resilience, the economy, and trade. Taiwan and the US are also well-matched in such areas as high tech and manufacturing. As the US pursues reindustrialization and aims to become a global hub for AI, Taiwan is willing to take part and play an even more important role. We will strengthen Taiwan-US industrial cooperation and together build non-red supply chains. In addition to bringing our economic and trade relations even closer, this will also allow Taiwanese industries to remain rooted in Taiwan while expanding their global presence, helping bolster the US, and marketing worldwide. As for military exchanges, we are grateful to the US government for continuing its military sales to Taiwan and backing our efforts to upgrade our self-defense capabilities. Taiwan will continue to work with the US to jointly safeguard peace and stability throughout the region. In closing, I thank our guests once again for making the long journey here, not only offering warm friendship, but also demonstrating the staunch bipartisan support for Taiwan in the US Congress. Chair Westerman then delivered remarks, saying that it is an honor for him and his colleagues to be in Taiwan to talk about the strong relationship between the US and Taiwan and how that relationship can continue to grow in the future. The chair pointed out that natural resources are foundational to any kind of economic development, whether it is energy, which is key to manufacturing, or whether it is mining, which provides rare earth elements and all the minerals and metals needed for manufacturing. He said that as for natural resources including fish, wildlife, or timber, all are foundational to any society, but this is especially so for agriculture, noting that the US produces a lot of food and fodder and is always looking for more friends to share that with. Chair Westerman indicated that they are excited about opportunities to work with Taiwan, adding that Taiwan’s investments in the US have been greatly appreciated. He said they also are excited about the talks with the Trump administration and the future going forward on how we can have a stronger trade relationship, a stronger bilateral relationship, and how we can work with each other to help both economies grow and prosper. Chair Westerman concluded his remarks by expressing thanks for the opportunity to visit, saying that they treasure Taiwan’s friendship and our long-term relationship, and are very excited to be able to discuss in more detail how our two countries can work together. The delegation also included US House Natural Resources Committee Representatives Sarah Elfreth, Harriet Hageman, Celeste Maloy, and Nick Begich. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.  

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    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

  • In First White House Visit, Merz to Address Trade and Security with Trump

    Source: Government of India

    Source: Government of India (4)

    Germany’s new chancellor, Friedrich Merz, will hold his first face-to-face talks with U.S. President Donald Trump on Thursday in a high stakes meeting in the Oval Office as Europe seeks to stave off looming U.S. tariffs and sustain U.S. backing for Ukraine.

    The 69-year-old conservative, who took the helm of Europe’s largest economy last month, is scheduled to join Trump for lunch and one-on-one talks that analysts say could set the tone for U.S.-German ties for years to come.

    Germany’s export-oriented economy stands more to lose from U.S. tariffs than others and the country is also the second largest military and financial backer of Ukraine in its defence against Russia’s invasion, after the United States.

    The meeting comes amid a broader fraying of the transatlantic relationship. Trump’s administration has, for example, intervened in domestic European politics in a break with past practice, aligning with right-wing political movements and challenging European policies on immigration and free speech.

    The encounter will be closely watched after some recent meetings in the Oval Office, with the leaders of Ukraine and South Africa, for example, turned tense when Trump ambushed them with false claims and accusations.

    Merz and his entourage have sought coaching from other leaders on how to deal with Trump to avoid conflict.

    The meeting comes just weeks before a critical summit of the NATO Western military alliance which is looking increasingly strained given Trump’s threats not to come to the aid of U.S. allies that do not up their spending on defence.

    Such threats are of particular concern to Germany, which has relied on U.S. nuclear deterrence for its security since the end of World War Two.

    Merz has already made some bold policy moves that he can highlight to appease Trump, analysts said. He has backed Trump’s demand to more than double NATO’s spending target to 5% of economic output, earning unprecedented praise last weekend from U.S. Defence Secretary Pete Hegseth.

    Merz, who has vowed a more assertive foreign policy, also coordinated a visit by European leaders to Kyiv just days after taking office, two European diplomat sources said.

    “This shows that Germany is willing to accept a greater responsibility for Ukraine and the European security order – these are all things that have been wished for in the United States over years and will be welcomed,” said Sudha David-Wilp of the German Marshall Fund of the United States.

    “Germany is well-positioned to show that it can help the United States achieve its foreign policy goals.”

    The fact Merz was invited to stay in the Blair House guest quarters across from the White House is a positive signal, said analysts.

    KINDRED SPIRIT OR FOE?

    Merz and Trump could even find some common ground given their business backgrounds, their membership in right-of-centre political parties, their focus on fighting illegal immigration and their fondness for golf, said Steven Sokol, President and CEO of the American Council on Germany.

    They also both had run-ins with former German chancellor Angela Merkel – who once squeezed Merz out of top-level politics.

    Moreover Merz has described himself as “a convinced transatlanticist”, chairing the “Atlantic Bridge”, a non-profit fostering U.S.-German ties, for 10 years.

    “They might discover a kindred spirit,” Sokol said.

    Still, Trump was unpredictable, while Merz was impulsive, warned analysts, and there were huge frictions in the relationship.

    “The challenge that he could face is … if Trump says something is erroneous, do you correct him? Do you risk turning it into an argument?” said Jeffrey Rathke, a former U.S. diplomat and president of the American-German Institute at the Johns Hopkins University in Washington.

    “Or do you find a way to indicate that you see it differently, but not let it sidetrack the conversation.”

    U.S. administration officials remain upset that Merz criticized Trump shortly before the 2024 U.S. election, a source familiar with its thinking said.

    And, on the eve of his own election victory, Merz criticised the “ultimately outrageous” comments flowing from Washington during the campaign, comparing them to hostile interventions from Russia.

    Another possible landmine could be a recent German proposal for a levy on online platforms such as Alphabet’s Google GOOGL.O, and Meta’s Facebook META.O, especially given Trump’s close ties with the U.S. tech industry, he said.

    (Reuters) 

  • MIL-OSI USA: Sánchez: Federal court is right, Trump is abusing emergency trade authorities

    Source: United States House of Representatives – Congresswoman Linda Sanchez (38th District of CA)

    WASHINGTON – Ways and Means Trade Subcommittee Ranking Member Linda T. Sánchez (D-Calif.) released the following statement after the Court of International Trade blocked President Trump from using emergency powers to impose tariffs on imports:

    “The federal court is absolutely right. President Trump is blatantly abusing emergency powers to impose broad tariffs that are upending our economy and global trade.

    “Emergency powers are not a blank check for the president to bypass Congress. He cannot toss out new tariffs every time he gets mad at another country.

    “Congress, not the president, has authority over trade, and it’s time Republicans fulfill their oath to the Constitution and work with us to put an end to this administration’s overreach. If they don’t, Republicans risk letting President Trump’s erratic trade policies drive us straight into a recession.”

    Background

    Ranking Member Sánchez introduced the Stopping a Rogue President on Trade Act, a bill that would turn off the global tariffs imposed on April 2, turn off the tariffs imposed by executive order for Mexico and Canada, and require congressional approval for tariffs imposed by the president. The bill has the support of all Ways and Means Democrats.

    Ways and Means Republicans also blocked her amendment to the tax bill that would have ended these tariffs.

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    MIL OSI USA News

  • MIL-OSI USA: Sánchez: Trump latest tariff tantrum threatens Apple, European allies

    Source: United States House of Representatives – Congresswoman Linda Sanchez (38th District of CA)

    WASHINGTON – Ways and Means Trade Subcommittee Ranking Member Linda T. Sánchez (D-Calif.) released the following statement in response to President Trump’s latest threats to place tariffs on the European Union (50 percent starting June 1) and Apple (25 percent if it doesn’t move operations to the United States):

    “Americans again woke up to a Trump tantrum on tariffs – this time threatening our European Union allies and singling out a major American company, Apple. 

    “His tariff chaos has already rattled our markets and put our economy at risk of a recession. He’s now further undermining our standing in Europe and attacking American innovation.

    “Congress has authority over trade, not the president. Republicans need to stop cowering to him on tariffs and reclaim our authority to put an end to this madness.”

    Background

    Ranking Member Sánchez introduced the Stopping a Rogue President on Trade Act, a bill that would turn off the global tariffs imposed on April 2, turn off the tariffs imposed by executive order for Mexico and Canada, and require congressional approval for tariffs imposed by the president. The bill has the support of all Ways and Means Democrats.

    Ways and Means Republicans also blocked her amendment in committee to the tax bill that would have ended these tariffs.

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    MIL OSI USA News