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Category: Economy

  • MIL-OSI Banking: Euro area monthly balance of payments: May 2025

    Source: European Central Bank

    18 July 2025

    • Current account recorded €32 billion surplus in May 2025, up from €19 billion in previous month
    • Current account surplus amounted to €333 billion (2.1% of euro area GDP) in the 12 months to May 2025, down from €364 billion (2.5%) one year earlier
    • In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled €758 billion and non-residents’ net acquisitions of euro area portfolio investment securities totalled €744 billion in the 12 months to May 2025

    Chart 1

    Euro area current account balance

    (EUR billions unless otherwise indicated; working day and seasonally adjusted data)

    Source: ECB.

    The current account of the euro area recorded a surplus of €32 billion in May 2025, an increase of €13 billion from the previous month (Chart 1 and Table 1). Surpluses were recorded for goods (€33 billion), services (€13 billion) and primary income (€2 billion). These were partly offset by a deficit for secondary income (€16 billion).

    Table 1

    Current account of the euro area

    Source: ECB.

    Note: Discrepancies between totals and their components may be due to rounding.

    Data for the current account of the euro area

    In the 12 months to May 2025, the current account recorded a surplus of €333 billion (2.1% of euro area GDP), compared with a surplus of €364 billion (2.5% of euro area GDP) one year earlier. This decrease was mainly driven by a shift from a surplus to a deficit for primary income (from a €34 billion surplus to a €5 billion deficit), but also by a larger deficit for secondary income (up from €169 billion to €185 billion) and a reduction in the surplus for services (down from €153 billion to €146 billion). These developments were partly offset by a larger surplus for goods (up from €346 billion to €378 billion).

    Chart 2

    Selected items of the euro area financial account

    (EUR billions; 12-month cumulated data)

    Source: ECB.

    Notes: For assets, a positive (negative) number indicates net purchases (sales) of non-euro area instruments by euro area investors. For liabilities, a positive (negative) number indicates net sales (purchases) of euro area instruments by non-euro area investors.

    In direct investment, euro area residents made net investments of €200 billion in non-euro area assets in the 12 months to May 2025, following net disinvestments of €215 billion one year earlier (Chart 2 and Table 2). Non-residents invested €126 billion in net terms in euro area assets in the 12 months to May 2025, following net disinvestments of €398 billion one year earlier.

    In portfolio investment, euro area residents’ net purchases of non-euro area equity increased to €203 billion in the 12 months to May 2025, up from €84 billion one year earlier. Over the same period, net purchases of non-euro area debt securities by euro-area residents increased to €555 billion, up from €490 billion one year earlier. Non-residents’ net purchases of euro area equity increased to €395 billion in the 12 months to May 2025, up from €275 billion one year earlier. Over the same period, non-residents made net purchases of euro area debt securities amounting to €349 billion, declining from €426 billion one year earlier.

    Table 2

    Financial account of the euro area

    Source: ECB.

    Notes: Decreases in assets and liabilities are shown with a minus sign. Net financial derivatives are reported under assets. “MFIs” stands for monetary financial institutions. Discrepancies between totals and their components may be due to rounding.

    Data for the financial account of the euro area

    In other investment, euro area residents recorded net acquisitions of non-euro area assets amounting to €518 billion in the 12 months to May 2025 (following net acquisitions of €212 billion one year earlier), while their net incurrence of liabilities was €172 billion (following disposals of €104 billion one year earlier).

    Chart 3

    Monetary presentation of the balance of payments

    (EUR billions; 12-month cumulated data)

    Source: ECB.

    Notes: “MFI net external assets (enhanced)” incorporates an adjustment to the MFI net external assets (as reported in the consolidated MFI balance sheet items statistics) based on information on MFI long-term liabilities held by non-residents, available in b.o.p. statistics. B.o.p. transactions refer only to transactions of non-MFI residents of the euro area. Financial transactions are shown as liabilities net of assets. “Other” includes financial derivatives and statistical discrepancies.

    The monetary presentation of the balance of payments (Chart 3) shows that the net external assets (enhanced) of euro area MFIs increased by €417 billion in the 12 months to May 2025. This increase was mainly driven by the current and capital accounts surplus and, to a lesser extent, euro area non-MFIs’ net inflows in other investment, and portfolio investment equity and debt. These developments were partly offset by euro area non-MFIs’ net outflows in direct investment.

    In May 2025 the Eurosystem’s stock of reserve assets increased to €1,507.7 billion up from €1,496.9 billion in the previous month (Table 3). This increase was mostly driven by positive price changes (€6.5 billion) and, to a lesser extent, by net acquisitions of assets (€2.3 billion) and positive exchange rate changes (€2.0 billion).

    Table 3

    Reserve assets of the euro area

    (EUR billions; amounts outstanding at the end of the period, flows during the period; non-working day and non-seasonally adjusted data)

    Source: ECB.

    Notes: “Other reserve assets” comprises currency and deposits, securities, financial derivatives (net) and other claims. Discrepancies between totals and their components may be due to rounding.

    Data for the reserve assets of the euro area

    Data revisions

    This press release incorporates revisions to the data for April 2025. These revisions did not significantly alter the figures previously published.

    Next releases:

    • Monthly balance of payments: 19 August 2025 (reference data up to June 2025)
    • Quarterly balance of payments: 07 October 2025 (reference data up to the second quarter of 2025)

    For media queries, please contact Benoît Deeg, tel.: +49 172 1683704.

    Notes

    • Current account data are always seasonally and working day-adjusted, unless otherwise indicated, whereas capital and financial account data are neither seasonally nor working day-adjusted.
    • Hyperlinks in this press release lead to data that may change with subsequent releases as a result of revisions.

    MIL OSI Global Banks –

  • MIL-OSI Asia-Pac: GBA Office holds first seminar in Xian to promote GBA development opportunities (with photos)

    Source: Hong Kong Government special administrative region – 4

         The Guangdong-Hong Kong-Macao Greater Bay Area Development Office (GBA Office) today (July 18) held the GBA Via Hong Kong luncheon seminar in Xian to promote the vast opportunities brought about by the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the growth potential of Hong Kong’s Northern Metropolis to enterprises in Shaanxi. Over 260 participants attended the event.
     
         The Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Ms Maisie Chan, delivered a video speech at the seminar. She said that to fully leverage Hong Kong’s advantage of connecting with both the Mainland and the world, the GBA Office not only expends efforts on overseas publicity and promotion, but also strengthens domestic ties by actively promoting development opportunities in the GBA to different Mainland cities. Commencing the visit in Xian – a national central city in the heart of China – signified a pivotal step in the GBA’s “northbound empowerment” and its connection with the Silk Road Economic Belt. With the support from the Central Authorities and the concerted efforts of various GBA cities, the GBA has continued to flourish in terms of economic strength and competitiveness, advancing towards the goal of becoming a world-class bay area. As a core city and regional development engine of the GBA, and with the unique advantage of having strong support from the motherland and close connection with the world, Hong Kong is an ideal partner for Shaanxi enterprises to expand into the GBA and explore the global market. She encouraged enterprises to establish a presence in Hong Kong and leverage the city as an internationalised platform to go global.
     
         The Deputy Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Ms Aubrey Fung, delivered a keynote speech titled “GBA’s development opportunities and Hong Kong’s advantages in empowering Shaanxi enterprises to go global”. She said that the GBA is of immense strategic significance in national development, presenting boundless business opportunities for Shaanxi and global enterprises. Under the “one country, two systems” principle, Hong Kong possesses an excellent business environment that is highly market-oriented and internationalised, underpinned by the rule of law, with distinctive strengths in financial services, innovation and technology, and trade and logistics, etc. With the further deepening of co-operation between Shaanxi and Hong Kong, the city’s unique strengths and Shaanxi’s solid industrial foundation and vibrant technological innovation would create synergy, thereby fostering a win-win outcome and resource complementarity between the two places, and injecting new impetus into the country’s high-quality development.
     
         The Deputy Director of the Northern Metropolis Co-ordination Office, Ms Pecvin Yong, said at the seminar that the Northern Metropolis, aligning with the national development strategy and abutting Shenzhen with a global outlook, can contribute to the GBA becoming a world-class top-notch bay area. The Northern Metropolis also offers development and investment opportunities for Shaanxi’s enterprises. The Hong Kong Special Administrative Region Government will continue to adopt an industry-oriented approach in planning and implementing the Northern Metropolis as well as diversified land disposal approaches, including large-scale land disposal, with a view to attracting talent and resources to Hong Kong, helping the Northern Metropolis to become a new engine for Hong Kong’s economic growth.
     
         Today’s seminar was co-organised by the GBA Office, the Shaanxi Liaison Unit of the Hong Kong Special Administrative Region Government, and the Hong Kong and Macao Affairs Office of the Shaanxi Provincial People’s Government. The seminar also featured a question-and-answer session to facilitate exchanges, enabling participants to gain a deeper understanding of the development potential of the GBA and the Northern Metropolis, and providing a high-value exchange platform for enterprises of the two regions.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: “Immersive Hong Kong” roving exhibition opens in Qingdao (with photos)

    Source: Hong Kong Government special administrative region – 4

         The “Immersive Hong Kong” roving exhibition, organised by the Information Services Department (ISD) of the Hong Kong Special Administrative Region (HKSAR) Government  to showcase the diversity and latest developments of Hong Kong through interactive art technology, opened in Qingdao today (July 18). 

         Co-organised by the Shandong Liaison Unit of the HKSAR Government, the exhibition, themed “Hong Kong – Where the World Looks Ahead”, invites visitors from Qingdao and the entire Shandong Province to explore the unique opportunities and potential for tourism, education, business and investment in Hong Kong.

         The exhibition enables visitors to delve into different virtual scenes representing the city, with a creative twist. The five thematic zones, namely “Financial Bridgehead”, “I&T Brain Bank”, “Blossoming Creativity”, “Diversity and Greenery” and “Buzzing Sports Action”, feature multiple interactive art projections, light box installations and naked-eye 3D displays, representing the distinctive appeal of Hong Kong.

         Visitors may also enjoy Hong Kong’s vibrant and colourful skyline, illustrated by Hong Kong artist Messy Desk (Jane Lee), at a photo corner in the venue. Promotional videos on Hong Kong and digital panels presenting information about the city, as well as insights from Mainland companies about their experiences in Hong Kong, are also on display, highlighting why the city is one of the most desirable places to visit, study, live, work and invest.

         Speaking at the opening ceremony today, the Director of Information Services, Mrs Apollonia Liu, said that this year marks the 10th anniversary of the Belt and Road Summit organised by the HKSAR, and that three node cities along the Belt and Road on the Mainland were specially selected to hold the exhibition. The first stop was successfully held in Shanghai last month, attracting more than 180 000 visitors, while Qingdao is the second stop, to be followed by Chengdu. 

         She said, “The eligible cities of the Individual Visit Scheme (IVS) expanded to Qingdao in March last year, enabling residents of Qingdao to explore Hong Kong in a more flexible and convenient manner. In addition to deepening exchanges and fostering cultural integration and people-to-people bonds between the two cities, IVS tourists also represent an important force in driving the business of tourism-related industries in Hong Kong.”

         Mrs Liu added that, although Hong Kong and Qingdao are far apart geographically, the two cities are in fact within arm’s reach. They are linked by multiple direct flights operating daily, with a flight time of just over three hours. This offers an excellent foundation for the two cities to further deepen tourism co-operation, promote resource sharing, and facilitate the two-way flow of visitors.

         Introducing the highlights of the exhibition, Mrs Liu said a “Buzzing Sports Action” thematic zone has been set up, serving as pre-event publicity for the 15th National Games to be cohosted by Hong Kong, Guangdong and Macao in November this year. The cultural and tourism appeal, as well as the latest developments of Hong Kong, is also shown in a comprehensive manner through naked-eye 3D displays and interactive games.

         Mrs Liu expressed hope that the exhibition would provide an opportunity for friends from Qingdao to experience Hong Kong’s charm from different aspects, sparking their interest to learn more about Hong Kong and visit the city.

         To give Qingdao audiences a taste of Hong Kong’s cultural offerings, a wind instrument performance by two young Hong Kong music talents – the Hong Kong Chinese Orchestra Suona Principal Ma Wai-him and pianist Aaron Leung – will be staged at the exhibition venue on July 19 and 20. 

         During the exhibition, an interactive game, “Snap a cool shot @Immersive Hong Kong”, will offer attractive prizes sponsored by Cathay Pacific for two winners. The winner of the Grand Prize will receive a pair of round-trip business class air tickets from Qingdao to Hong Kong, while the runner-up will receive a pair of round-trip economy class air tickets on the same itinerary.

         The exhibition is being held at Lion Mall, a major shopping centre in Qingdao, until July 27. Admission is free.

         Qingdao is the seventh stop of the exhibition, following its successful staging in a total of six cities in Mainland China, the Association of Southeast Asian Nations, and the Middle East between July 2023 and June 2025.

         Supporting organisations of the exhibition include the Belt and Road Office of the Commerce and Economic Development Bureau, Hong Kong Talent Engage, Cathay Pacific, the Hong Kong Trade Development Council, the Hong Kong Tourism Board, and the Kai Tak Sports Park.

         More information on the exhibition is available on the dedicated page on the Brand Hong Kong website and the Hong Kong Economic and Trade Office in Shanghai website.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: “Immersive Hong Kong” roving exhibition opens in Qingdao (with photos)

    Source: Hong Kong Government special administrative region – 4

         The “Immersive Hong Kong” roving exhibition, organised by the Information Services Department (ISD) of the Hong Kong Special Administrative Region (HKSAR) Government  to showcase the diversity and latest developments of Hong Kong through interactive art technology, opened in Qingdao today (July 18). 

         Co-organised by the Shandong Liaison Unit of the HKSAR Government, the exhibition, themed “Hong Kong – Where the World Looks Ahead”, invites visitors from Qingdao and the entire Shandong Province to explore the unique opportunities and potential for tourism, education, business and investment in Hong Kong.

         The exhibition enables visitors to delve into different virtual scenes representing the city, with a creative twist. The five thematic zones, namely “Financial Bridgehead”, “I&T Brain Bank”, “Blossoming Creativity”, “Diversity and Greenery” and “Buzzing Sports Action”, feature multiple interactive art projections, light box installations and naked-eye 3D displays, representing the distinctive appeal of Hong Kong.

         Visitors may also enjoy Hong Kong’s vibrant and colourful skyline, illustrated by Hong Kong artist Messy Desk (Jane Lee), at a photo corner in the venue. Promotional videos on Hong Kong and digital panels presenting information about the city, as well as insights from Mainland companies about their experiences in Hong Kong, are also on display, highlighting why the city is one of the most desirable places to visit, study, live, work and invest.

         Speaking at the opening ceremony today, the Director of Information Services, Mrs Apollonia Liu, said that this year marks the 10th anniversary of the Belt and Road Summit organised by the HKSAR, and that three node cities along the Belt and Road on the Mainland were specially selected to hold the exhibition. The first stop was successfully held in Shanghai last month, attracting more than 180 000 visitors, while Qingdao is the second stop, to be followed by Chengdu. 

         She said, “The eligible cities of the Individual Visit Scheme (IVS) expanded to Qingdao in March last year, enabling residents of Qingdao to explore Hong Kong in a more flexible and convenient manner. In addition to deepening exchanges and fostering cultural integration and people-to-people bonds between the two cities, IVS tourists also represent an important force in driving the business of tourism-related industries in Hong Kong.”

         Mrs Liu added that, although Hong Kong and Qingdao are far apart geographically, the two cities are in fact within arm’s reach. They are linked by multiple direct flights operating daily, with a flight time of just over three hours. This offers an excellent foundation for the two cities to further deepen tourism co-operation, promote resource sharing, and facilitate the two-way flow of visitors.

         Introducing the highlights of the exhibition, Mrs Liu said a “Buzzing Sports Action” thematic zone has been set up, serving as pre-event publicity for the 15th National Games to be cohosted by Hong Kong, Guangdong and Macao in November this year. The cultural and tourism appeal, as well as the latest developments of Hong Kong, is also shown in a comprehensive manner through naked-eye 3D displays and interactive games.

         Mrs Liu expressed hope that the exhibition would provide an opportunity for friends from Qingdao to experience Hong Kong’s charm from different aspects, sparking their interest to learn more about Hong Kong and visit the city.

         To give Qingdao audiences a taste of Hong Kong’s cultural offerings, a wind instrument performance by two young Hong Kong music talents – the Hong Kong Chinese Orchestra Suona Principal Ma Wai-him and pianist Aaron Leung – will be staged at the exhibition venue on July 19 and 20. 

         During the exhibition, an interactive game, “Snap a cool shot @Immersive Hong Kong”, will offer attractive prizes sponsored by Cathay Pacific for two winners. The winner of the Grand Prize will receive a pair of round-trip business class air tickets from Qingdao to Hong Kong, while the runner-up will receive a pair of round-trip economy class air tickets on the same itinerary.

         The exhibition is being held at Lion Mall, a major shopping centre in Qingdao, until July 27. Admission is free.

         Qingdao is the seventh stop of the exhibition, following its successful staging in a total of six cities in Mainland China, the Association of Southeast Asian Nations, and the Middle East between July 2023 and June 2025.

         Supporting organisations of the exhibition include the Belt and Road Office of the Commerce and Economic Development Bureau, Hong Kong Talent Engage, Cathay Pacific, the Hong Kong Trade Development Council, the Hong Kong Tourism Board, and the Kai Tak Sports Park.

         More information on the exhibition is available on the dedicated page on the Brand Hong Kong website and the Hong Kong Economic and Trade Office in Shanghai website.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by FS at Rhythm of Innovation (English only) (with photos/video)

    Source: Hong Kong Government special administrative region

    Speech by FS at Rhythm of Innovation (English only) (with photos/video) 
    Sunny (Chairman of the Hong Kong Science and Technology Parks (HKSTP) Corporation, Dr Sunny Chai), Albert (Chief Executive Officer of the HKSTP Corporation, Mr Albert Wong), young talents from Hong Kong and beyond,
     
    Good afternoon.
     
         It’s a real pleasure to be at this gathering, joined by so many energetic and passionate young innovators.
     
         Just moments ago, I had the chance to speak with some of you, interns and graduates from various incubation programmes here at Science Park. I must say I am truly impressed by your passion, creativity and drive to make a difference in life.
     
         Innovation and technology – or I&T – is a space full of promise. For a long time, people in Hong Kong have favoured careers like doctors, lawyers, engineers and accountants. While these are respectable and rewarding professions, today, I&T has become one of the most exciting avenues for young people to succeed. It is a sector of the future where you can find a meaningful career with positive impact on the community and the world.
     
         Take DeepSeek for example.  It is a remarkable venture launched by a group of young innovators. Their high-efficiency, low-cost model has captured global attention and admiration. And they are just one of many success stories. Across both the Mainland and Hong Kong, young people are driving change through groundbreaking products and creative solutions that are shaping industries and transforming lives.
     
         And if you’re thinking about a career in I&T, let me say: Hong Kong is the place to be.
     
         This Government puts I&T as a policy priority. We focus on sectors where we have competitive strengths, namely artificial intelligence, biomedicine, fintech as well as new energy and new materials. To expedite their development, we are actively attracting world-class enterprises and top talent to Hong Kong, especially those working on cutting-edge technologies.  And we are nurturing a vibrant ecosystem of start-ups, with patient capital support.  By setting up the Hong Kong Investment Corporation Limited, we seek to channel private sector funds to companies even at their nascent stage. 
     
         As an international financial centre, we also provide comprehensive funding support for start-ups and companies at various stages of development, from angel investments, venture capital and private equity to IPO.
     
         Apart from finance, Hong Kong has a number of other unique advantages. 
     
         For example, we are home to world-class universities and research institutions. We are the only city in the world with five universities ranked among the global top 100. Our research institutions are among the best in Asia and the world.  Our two medical schools are among the world’s top 25. 
     
         Besides, we have a thriving start-up ecosystem.  As of last year, Hong Kong had around 4 700 start-ups, a 40 per cent increase compared to 2020. And our innovation flagships like Science Park and Cyberport provide the space, infrastructure, mentorship, resources, networks and programmes that support their growth and dreams.
     
         There’s more. The Northern Metropolis on the boundary with Shenzhen – an area about one-third the size of Hong Kong – is being developed into an I&T powerhouse.
     
         With special cross-boundary policies and facilitation, the Northern Metropolis in conjunction with sister cities in the Greater Bay Area, like Shenzhen and Guangzhou, is fast becoming a global hub for R&D, tech innovation and commercialisation, as well as advanced manufacturing.
     
         And just as important – we offer a safe, open, multicultural environment that welcomes talent from all over the world.
     
         To those of you who are coming from the Mainland or overseas, I wish you to know that Hong Kong welcomes you. If you are inspired by what you see here, come and join us. Since launching our talent admission schemes in December 2022, we’ve received nearly 500 000 applications – and over 220 000 talented individuals have arrived in Hong Kong, many with their young families. They chose Hong Kong for its opportunities, unparalleled connectivity, quality of life, excellent education system, and many more.
     
         Ladies and gentlemen, the greatest asset of Hong Kong has always been its people – and that includes you: our next generation of innovators, creators and leaders.
     
         I look forward to seeing many of you again in the future – not just as students or interns, but as key members of Hong Kong’s I&T community.
     
         Once again, I thank the HKSTP for organising this amazing and meaningful gathering.
     
         Let me end by wishing you all good health, successful careers, and a bright future. Keep dreaming, keep creating, and keep moving forward.
     
         Thank you very much.
    Issued at HKT 18:06

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: MoneyHero Group Regains Compliance with Nasdaq Minimum Bid Price Requirement

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 18, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (Nasdaq: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced that it has received a written notice (the “Compliance Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) dated July 17, 2025, informing the Company that it has regained compliance with the minimum bid price requirement set forth under the Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).

    As previously announced, the Company was notified by Nasdaq on April 7, 2025 that the Company was not in compliance with the Minimum Bid Price Requirement as the closing bid price of the Company’s ordinary shares was below US$1.00 per share for a period of 30 consecutive business days.

    According to the Compliance Notice, the Company regained compliance with the Minimum Bid Price Requirement because the closing bid price of the Company’s ordinary shares has been US$1.00 per share or greater for 10 consecutive business days, from July 2, 2025 to July 16, 2025, and the matter is now closed.

    About MoneyHero Group

    MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 260 commercial partner relationships as at March 31, 2025, and had approximately 5.7 million Monthly Unique Users across its platform for the three months ended March 31, 2025. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.

    For inquiries, please contact:

    Investor Relations:
    MoneyHero IR Team
    IR@MoneyHeroGroup.com

    The MIL Network –

  • MIL-OSI: CICC successfully hosts the 3rd China–Southeast Asia Economic and Finance Forum in Singapore

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 18, 2025 (GLOBE NEWSWIRE) — On July 15, China International Capital Corporation Limited (CICC) successfully convened the 3rd China–Southeast Asia Economic and Finance Forum 2025. H.E. Cao Zhongming, Ambassador of China to Singapore graced the event as a keynote speaker. The forum brought together nearly 300 government officials, institutional investors, business leaders, and CICC representatives from across Asia. Held under the theme “The Great Rewiring: China–Southeast Asia Pivot in a Realigning Global Economy”, the forum served as a high-level platform for dialogue and collaboration on macroeconomic trends, regional investment opportunities, and cross-border capital flows between China and Southeast Asia.

    H.E. Cao Zhongming, Ambassador of China to Singapore, emphasized that China upholds the principle of openness and cooperation, and is committed to advancing globalization. He expressed that China looks forward to working closely with ASEAN under the vision of “amity, sincerity, mutual benefit, and inclusiveness”, which would deepen mutual benefits, and jointly promote regional prosperity as well as global development.

    In her opening speech, Liang Dongqing, Member of CICC’s Management Committee mentioned the theme of this year’s forum is inspired by the “great rewiring” of the global economy. Southeast Asia stands out as the most favoured destination for A-share listed manufacturing companies to go abroad, which highlights China and the region’s steadfast partnership and interdependence. Stephen Ng, Head of CICC Southeast Asia and South Asia and CEO of CICC Singapore addressed the audience that the annual forum has witnessed the evolution of connectivity between China and Southeast Asia—from its early beginnings three years ago to its rapid development today, which has significantly reshaped and strengthened regional economic ties.

    Other keynote speakers include Dr. Kai-Fu Lee, CEO of 01.AI and Chairman of Sinovation Ventures, who said that generative AI will also be a super productivity booster for the economy. Professor Bert Hofman of the East Asian Institute of the National University of Singapore highlighted that China’s continued investment in research and technology has effectively helped optimize its export structure. At the same time, two-way direct investment between China and ASEAN has continuously deepened.

    Throughout the day, the Forum featured keynote speeches and in-depth discussions across multiple panels and sub-forums. Guest speakers and experts shared insights on a broad spectrum of topics, including reconfiguring supply chains, emerging investment trends in China, the evolution of consumer markets, market strategy, the global expansion of AI, strategic asset allocation, exchange rate outlook, as well as synergy between Chinese innovation and Southeast Asia’s economic transformation, among others.

    The Forum served as a platform to further strengthen CICC’s presence in Southeast Asia and support the firm’s efforts to seize new opportunities arising from the deepening economic ties and growing capital flows between China and the region. Looking ahead, CICC will continue to expand its network and business activities across Southeast Asia, enhance its cooperation with local partners, and facilitate cross-border investment and capital market integration, while contributing to regional financial development.

    About CICC

    China International Capital Corporation Limited (CICC, 601995.SH, 3908.HK) was established in 1995. Our experience in professional services includes leading several prominent transactions, reflecting our close involvement in China’s economic reform and development. Our vision is to become a first-class investment bank with international competitiveness. As an investment bank with Chinese roots and international reach, CICC continues bringing first-class financial services through its extensive network and outstanding cross-border capability to help our clients accomplish their strategic development goals.

    The MIL Network –

  • MIL-OSI: Aurora Mobile’s JPush Empowers Beijing Hyundai Auto Finance to Build an Efficient and Secure Mobile Financial Service Platform

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 18, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that its push notification solution, JPush, has partnered with Beijing Hyundai Auto Finance Co., Ltd. (“BHAF”) to empower the automotive finance provider with JPush’s efficient message delivery and secure communication services.

    Driven by the digital transformation sweeping the financial sector, BHAF is embracing change and striving to build an intelligent, mobile financial service system. To enhance customer service efficiency and employee collaboration, BHAF has launched a dedicated mobile platform that integrates core functions, such as financial services, customer support, risk management, and internal operations. Powered by advanced technology, JPush has played a key role in providing robust support for this platform.

    • Seamless full coverage to ensure uninterrupted service
      JPush fully supports various operating systems including Android, iOS, HarmonyOS, QuickApp, and Web. It is compatible with JPush channels, APNs (Apple Push Notification service), FCM (Firebase Cloud Messaging) and the system-level push messaging channels of various mobile brands such as Huawei, Xiaomi, OPPO, VIVO, Meizu, ASUS, NIO Phone. This ensures that BHAF’s customers and employees can receive critical messages in a timely and stable manner on various devices, enabling the seamless delivery of financial services.
    • High-concurrency, financial-grade channels for guaranteed message delivery
      JPush has established multiple high-reliability, high-concurrency message delivery channels. By leveraging its intelligent channel optimization and keep-alive technologies, JPush ensures the instant and accurate delivery of time-sensitive financial messages such as loan progress updates, repayment reminders, pending approvals, and risk alerts. This helps BHAF avoid delays or message loss that could negatively affect customer experience or internal decision-making.
    • Dual assurance of precision targeting and compliance-level security
      JPush supports customized labeling and aliases based on user profiles and business scenarios. This enables refined push notifications, such as loan product recommendations, repayment reminders, and employee task alerts. These capabilities significantly enhance information delivery efficiency and user experience. Furthermore, JPush has passed the security evaluation by the China Academy of Information and Communications Technology (CAICT) and is connected to the national SDK management service platform. Its strict data encryption and storage mechanisms provide BHAF with dual-layer protection for customer privacy and business data, fully complying with the stringent regulatory requirements of the financial industry.

    A financial-grade mobile service hub featuring high efficiency, precision, and security has been established through the deep integration of JPush and BHAF’s mobile platform. Internally, employee approval processes have been accelerated and collaboration efficiency significantly improved. Externally, customers benefit from greater transparency in loan processing and timely repayment reminders, resulting in a fully upgraded service experience. These improvements optimize operations, lower service costs, and foster business model innovation while enhancing customer satisfaction through technology.

    Looking ahead, Aurora Mobile will continue to deepen its strategic partnership with BHAF. Leveraging its industry-leading push notification and financial technology solutions, the two parties will jointly explore cutting-edge digital applications, including intelligent risk control, precision marketing, and personalized services. These efforts will help strengthen BHAF’s digital foundation and provide sustained intelligent momentum for its high-quality business growth.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI: Aurora Mobile’s JPush Empowers Beijing Hyundai Auto Finance to Build an Efficient and Secure Mobile Financial Service Platform

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 18, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that its push notification solution, JPush, has partnered with Beijing Hyundai Auto Finance Co., Ltd. (“BHAF”) to empower the automotive finance provider with JPush’s efficient message delivery and secure communication services.

    Driven by the digital transformation sweeping the financial sector, BHAF is embracing change and striving to build an intelligent, mobile financial service system. To enhance customer service efficiency and employee collaboration, BHAF has launched a dedicated mobile platform that integrates core functions, such as financial services, customer support, risk management, and internal operations. Powered by advanced technology, JPush has played a key role in providing robust support for this platform.

    • Seamless full coverage to ensure uninterrupted service
      JPush fully supports various operating systems including Android, iOS, HarmonyOS, QuickApp, and Web. It is compatible with JPush channels, APNs (Apple Push Notification service), FCM (Firebase Cloud Messaging) and the system-level push messaging channels of various mobile brands such as Huawei, Xiaomi, OPPO, VIVO, Meizu, ASUS, NIO Phone. This ensures that BHAF’s customers and employees can receive critical messages in a timely and stable manner on various devices, enabling the seamless delivery of financial services.
    • High-concurrency, financial-grade channels for guaranteed message delivery
      JPush has established multiple high-reliability, high-concurrency message delivery channels. By leveraging its intelligent channel optimization and keep-alive technologies, JPush ensures the instant and accurate delivery of time-sensitive financial messages such as loan progress updates, repayment reminders, pending approvals, and risk alerts. This helps BHAF avoid delays or message loss that could negatively affect customer experience or internal decision-making.
    • Dual assurance of precision targeting and compliance-level security
      JPush supports customized labeling and aliases based on user profiles and business scenarios. This enables refined push notifications, such as loan product recommendations, repayment reminders, and employee task alerts. These capabilities significantly enhance information delivery efficiency and user experience. Furthermore, JPush has passed the security evaluation by the China Academy of Information and Communications Technology (CAICT) and is connected to the national SDK management service platform. Its strict data encryption and storage mechanisms provide BHAF with dual-layer protection for customer privacy and business data, fully complying with the stringent regulatory requirements of the financial industry.

    A financial-grade mobile service hub featuring high efficiency, precision, and security has been established through the deep integration of JPush and BHAF’s mobile platform. Internally, employee approval processes have been accelerated and collaboration efficiency significantly improved. Externally, customers benefit from greater transparency in loan processing and timely repayment reminders, resulting in a fully upgraded service experience. These improvements optimize operations, lower service costs, and foster business model innovation while enhancing customer satisfaction through technology.

    Looking ahead, Aurora Mobile will continue to deepen its strategic partnership with BHAF. Leveraging its industry-leading push notification and financial technology solutions, the two parties will jointly explore cutting-edge digital applications, including intelligent risk control, precision marketing, and personalized services. These efforts will help strengthen BHAF’s digital foundation and provide sustained intelligent momentum for its high-quality business growth.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI: Remittix Announces Imminent Launch of Ethereum-Based Crypto-to-Fiat PayFi Protocol, Unveils $250,000 Community Giveaway

    Source: GlobeNewswire (MIL-OSI)

    KOŠICE, Slovakia, July 18, 2025 (GLOBE NEWSWIRE) — Remittix, a next-generation PayFi protocol built on the Ethereum blockchain, today announced the imminent launch of its real-world crypto-to-fiat payment solution. The platform, which enables users to send crypto and settle in fiat across global bank accounts, mobile wallets, and payment rails, is set to go live in the coming weeks. In celebration of the upcoming launch, Remittix has also kicked off a $250,000 giveaway campaign to reward early supporters and build community engagement.

    The announcement comes amid heightened activity on the Ethereum network, with ETH trading at a five-month high of $3,350 and open interest rising sharply. Remittix leverages Ethereum’s smart contract infrastructure to enable near-instant cross-border settlements, with built-in compliance layers designed for regional licensing in Africa and Southeast Asia.

    “Cross-border remittance remains one of the most underserved areas in both traditional and decentralized finance,” said a spokesperson from Remittix. “We’re excited to roll out a solution that brings together speed, cost-efficiency, and real-world applicability while maintaining decentralization.”

    Key Highlights:

    • Launch-Ready Protocol: Real-time crypto-to-fiat conversion infrastructure developed on Ethereum.
    • Global Remittance Use Case: Supports fiat delivery to local banks and wallets across emerging markets.
    • Strong Investor Backing: Over $16.3 million raised and 550 million tokens sold to date.
    • Governance-Driven: Built with smart contracts supporting DAO-based upgrades and community input.
    • Launch Giveaway: A $250,000 prize pool is now live via Gleam.io to engage users ahead of the full rollout.

    The Remittix protocol is part of a growing trend in PayFi (Payment Finance), a new category in DeFi focused on merging blockchain innovation with traditional financial use cases. As Ethereum continues to evolve, solutions like Remittix are increasingly viewed as critical bridges between Web3 and everyday financial activity.

    Giveaway and Participation:

    To participate in the official Remittix $250,000 giveaway, users can visit: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
    More information on the project and presale details is available at https://remittix.io/

    Follow Remittix on social media: https://linktr.ee/remittix

    Contact:
    Andy Černý
    andy@remittix.io

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

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

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/93c9e09c-2a89-4f2c-9778-cc596196c52b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/6d6500b3-001c-4d9a-8d3e-569c6112e2d3

    https://www.globenewswire.com/NewsRoom/AttachmentNg/19574445-db94-4cc2-8c22-76718998ddcc

    The MIL Network –

  • MIL-OSI United Kingdom: UK, Philippines launch coalition to boost emerging market finance

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK, Philippines launch coalition to boost emerging market finance

    The UK and the Philippines have partnered to launch a groundbreaking initiative to channel more global capital into emerging markets.

    The ‘EMDE Public Markets Coalition’ was unveiled at the 4th International Conference on Financing for Development (FFD4) in Seville this July, as part of a Sevilla Platform for Action Initiative on ‘Public Markets Mobilisation for Development. This initiative aims to redirect a portion of the $255 trillion flowing through listed equity and bond markets toward crucial development projects in emerging markets and developing economies. 

    With only a small fraction of global public market investments currently reaching emerging economies like the Philippines, even a modest shift could transform financing for climate resilience and sustainable development projects. The Coalition will develop a Toolkit to guide development banks, finance institutions, and investors in mobilizing climate and development investments in emerging markets through public markets. This will help direct more capital to the Philippines and and similar economies.

    The Government of the Philippines endorses the initiative, co-hosted its FFD4 launch event, and will play a key role in its implementation. The initiative will be co-implemented by the Government of Norway and the African Development Bank (AfDB). It has also received endorsement from the Governments of the Netherlands, New Zealand, Switzerland, the Inter-American Development Bank, the Asian Development Bank (ADB), the Organisation for Economic Co-operation and Development (OECD), British International Investment (BII) and the Centre for Development Finance Studies (CDFS). 

    Undersecretary Joven Balbosa of the Philippines’ Department of Finance said:

    The Philippines is proud to continue our partnership with the UK to mobilise finance toward sustainable development and climate action. Public markets are powerful vehicles for mobilisation, with both equity and debt financing proving crucial in meeting climate and development targets.

    The Rt Hon Baroness Chapman of Darlington, UK Minister for International Development, highlighted the coalition’s significance:

    We need to see a transformation in how the public and private sectors work together to mobilise capital to power development progress. Even a small shift in the way this money is invested could unlock massive change and new opportunities for investors, ensuring more countries, communities, and businesses have the finance they need to solve the most difficult development challenges.

    Commissioner McJill Bryant Fernandez of the Philippines’ Securities and Exchange Commission noted that:

    The launch of the EMDE Public Markets Coalition is a timely step toward mobilizing global capital for sustainable development. For the Philippines, improving market access and de-risking investments enable more Filipino enterprises to secure long-term financing for climate-smart growth. We hope to see more countries and partners join us in scaling this agenda to create transformative change across emerging markets.

    The initiative aligns with the UK Government’s Plan for Change, which aims to make Britain a clean energy superpower while helping partners, like the Philippines, build climate resilience. 

    British Ambassador to the Philippines Laure Beaufils highlighted the strong partnership between the UK and the Philippines:

    I am proud that the UK and Philippines have teamed up to show how public markets can boost financing for sustainable development projects, thereby driving quantifiable, lasting change. Together, we have shown that the public sector has a role to play in facilitating this, by creating robust ecosystems that enable more private capital to be redirected to sustainable investments.

    The UK’s MOBILIST programme, which provides capital and technical assistance to support companies in emerging markets to list on stock exchanges, serves as a foundation for the new coalition. This approach has already proven effective in channelling institutional investment toward development projects. In 2024, MOBILIST invested $12.5 million in the Initial Public Offering (IPO) of Citicore Renewables Energy Corporation, a renewable energy developer and operator of solar, hydro, and wind energy platforms in the Philippines. MOBILIST’s investment played a catalytic role in the IPO, which was valued at a total of $86 million and also attracted private institutional investors.

    Updates to this page

    Published 18 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: China’s Daqing Oil Field Sees Oil, Gas Production Rise in H1 2025

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    HARBIN, July 18 (Xinhua) — Daqing Oilfield, China’s largest onshore oil field, saw crude oil and natural gas production rise in the first half of 2025, according to Daqing Oilfield Co., Ltd.

    During the reporting period, crude oil production at the field increased by 10.9 thousand tons year-on-year, while natural gas production increased by 222 million cubic meters compared to the same period last year.

    In recent years, Daqing Oilfields has been actively developing new approaches to the transition to a “green economy”. In the first six months, the capacity of the company’s commissioned projects in the field of alternative energy sources reached 538.7 thousand kilowatts, and the volume of electricity generation was 554 million kWh.

    Last year, the oil field produced more than 6 billion cubic meters of natural gas, demonstrating stable growth in its gas production for the 14th year in a row. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Global economic volatility due to US tariff policy has caused unemployment to rise in Australia: Treasurer

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    CANBERRA, July 18 (Xinhua) — Volatility in the global economy caused by U.S. tariffs is one reason for rising unemployment in Australia, Treasurer Jim Chalmers said on Friday.

    The politician told the Australian Broadcasting Corporation (ABC) that the volatility, unpredictability and uncertainty caused by US tariffs had become a “defining and permanent feature of the global economy” and Australia was not immune.

    The federal government has heard from business leaders and economists that U.S. trade policy has influenced local hiring decisions, Chalmers said.

    “I think people are embracing this uncertainty and unpredictability as the new normal. It requires us to change our thinking,” he said.

    Official data released on Thursday by the Australian Bureau of Statistics showed Australia’s unemployment rate rose from 4.1 per cent in May to 4.3 per cent in June, the highest since November 2021.

    Chalmers said the rise in unemployment was unwelcome but not surprising, and the government forecast unemployment would rise further but remain below 5 per cent.

    The treasurer made the announcement while in South Africa, where he is attending a meeting of G20 finance ministers and central bank governors in Durban.

    In bilateral discussions and major meetings, the view has “definitely” emerged that the U.S. tariff policy is unjustified, unnecessary and an act of economic self-destruction, the official said. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: President Lai meets President of Guatemalan Congress Nery Abilio Ramos y Ramos  

    Source: Republic of China Taiwan

    Details
    2025-07-08
    President Lai meets delegation led by Foreign Minister Jean-Victor Harvel Jean-Baptiste of Republic of Haiti
    On the morning of July 8, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Jean-Victor Harvel Jean-Baptiste of the Republic of Haiti and his wife. In remarks, President Lai noted that our two countries will soon mark the 70th anniversary of diplomatic relations and that our exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. The president stated that Taiwan will continue to work together with Haiti to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. The president thanked Haiti for supporting Taiwan’s international participation and expressed hope that both countries will continue to support each other, deepen cooperation, and face various challenges together. A translation of President Lai’s remarks follows: I am delighted to meet and exchange ideas with Minister Jean-Baptiste, his wife, and our distinguished guests. Minister Jean-Baptiste is the highest-ranking official from Haiti to visit Taiwan since former President Jovenel Moïse visited in 2018, demonstrating the importance that the Haitian government attaches to our bilateral diplomatic ties. On behalf of the Republic of China (Taiwan), I extend a sincere welcome. Next year marks the 70th anniversary of the establishment of diplomatic ties between our two countries. Our bilateral exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. Over the past few years, Haiti has faced challenges in such areas as food supply and healthcare. Taiwan will continue to work together with Haiti through various cooperative programs to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. I want to thank the government of Haiti and Minister Jean-Baptiste for speaking out in support of Taiwan on the international stage for many years. Minister Jean-Baptiste’s personal letter to the World Health Organization Secretariat in May this year and Minister of Public Health and Population Bertrand Sinal’s public statement during the World Health Assembly both affirmed Taiwan’s efforts and contributions to global public health and supported Taiwan’s international participation, for which we are very grateful. I hope that Taiwan and Haiti will continue to support each other and deepen cooperation. I believe that Minister Jean-Baptiste’s visit will open up more opportunities for cooperation for both countries, helping Taiwan and Haiti face various challenges together. In closing, I once again offer a sincere welcome to the delegation led by Minister Jean-Baptiste, and ask him to convey greetings from Taiwan to Prime Minister Alix Didier Fils-Aimé and the members of the Transitional Presidential Council. Minister Jean-Baptiste then delivered remarks, saying that he is extremely honored to visit Taiwan and reaffirm the solid and friendly cooperative relationship based on mutual respect between the Republic of Haiti and the Republic of China (Taiwan), which will soon mark its 70th anniversary. He also brought greetings to President Lai from Haiti’s Transitional Presidential Council and Prime Minister Fils-Aimé. Minister Jean-Baptiste emphasized that over the past few decades, despite the great geographical distance and developmental and cultural differences between our two countries, we have nevertheless established a firm friendship and demonstrated to the world the progress resulting from the mutual assistance and cooperation between our peoples. Minister Jean-Baptiste pointed out that our two countries cooperate closely in agriculture, health, education, and community development and have achieved concrete results. Taiwan’s voice, he said, is thus essential for the people of Haiti. He noted that Taiwan also plays an important role in peace and innovation and actively participates in global cooperative efforts. Pointing out that the world is currently facing significant challenges and that Haiti is experiencing its most difficult period in history, Minister Jean-Baptiste said that at this time, Taiwan and Haiti need to unite, help each other, and jointly think about how to move forward and deepen bilateral relations to benefit the peoples of both countries. Minister Jean-Baptiste said that he is pleased that throughout our solid and friendly diplomatic relationship, both countries have demonstrated mutual trust, mutual respect, and the values we jointly defend. He then stated his belief that Haiti and Taiwan will together create a cooperation model and future that are sincere, friendly, and sustainable. The delegation was accompanied to the Presidential Office by Chargé d’Affaires a.i. Francilien Victorin of the Embassy of the Republic of Haiti in Taiwan.

    Details
    2025-07-01
    President Lai meets delegation from 2025 Taiwan International Ocean Forum
    On the afternoon of July 1, President Lai Ching-te met with a delegation from the 2025 Taiwan International Ocean Forum (TIOF). In remarks, President Lai noted that the people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. He expressed hope that their visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. A translation of President Lai’s remarks follows: I want to thank our guests for coming here to the Presidential Office. The 2025 TIOF will take place tomorrow and the day after, and I thank you all for making the long trip to Taiwan to attend the event and share your valuable insights and experiences. This year’s forum will focus on strategies for strengthening maritime security and pathways to achieving a sustainable blue economy. By attending this forum, our guests are highlighting their commitment to safeguarding the oceans, and beyond that, taking concrete action to demonstrate support for Taiwan. I once again offer deepest gratitude on behalf of the people of Taiwan. Taiwan holds a key position on the first island chain, is one of the world’s top 10 shipping nations, and accounts for close to 10 percent of global container shipping by volume. As such, Taiwan occupies a unique and important position in maritime strategy. For Taiwan, the ocean is more than just a basis for survival and development; it is also an important driver of national prosperity. In my inaugural address last year, I spoke of a threefold approach to further Taiwan’s development. One of these involves further developing our strengths as a maritime nation. Our government must actively help deepen our connections with the ocean, and must continue to promote green shipping, a sustainable fishing industry, marine renewable energy, and other forms of industrial transformation. It must also make use of marine technology and digital innovation to create a new paradigm that balances environmental, economic, and social inclusion concerns. This will help enhance Taiwan’s responsibilities and competitiveness as a maritime nation. Taiwan is surrounded by ocean, and our territorial waters are a natural protective barrier. However, continued gray-zone aggression from China creates serious threats and challenges to peace and stability in the Taiwan Strait. Our government continues to invest resources to deal with increasingly complex maritime security issues. In addition to building coast guard patrol vessels, we must also step up efforts to build underwater, surface, and airborne unmanned vehicles and smart reconnaissance equipment, so as to demonstrate Taiwan’s determination to defend democracy and freedom and commitment to maintaining peace and stability in the Taiwan Strait. Oceans are Taiwan’s roots, and provide the channels by which we engage with the world. The people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. The TIOF was first launched in 2020, and has now become an important platform for enhancement of cooperation between Taiwan and other countries. I hope that our distinguished guests will reap great benefits at this year’s forum, and further hope that this visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. Chairman of The Washington Times Thomas McDevitt, a member of the delegation, then delivered remarks, noting first that July 4th, this Friday, is Independence Day in America. Independence is a sacred, powerful word which has great meaning in this part of the world, he said. Chairman McDevitt indicated that Taiwan has truly become a global beacon of democracy and a key partner for many nations. He then quoted President Lai’s 2024 inaugural address: “We will work together to combat disinformation, strengthen democratic resilience, address challenges, and allow Taiwan to become the MVP of the democratic world.” Chairman McDevitt went on to say that he appreciated the president’s speech with regard to his philosophical depth, sensitivity, and both moral and political clarity. He said that he was deeply moved by the speech, but within a few days of it, China responded with military activities and many threats. The chairman then emphasized that we are in a civilization crisis. Chairman McDevitt mentioned that President Lai has begun a series of 10 lectures, and remarked that they would help the world to understand the identity and the nature of Taiwan, as well as the situation we are in in the world. On behalf of all the delegation, Chairman McDevitt thanked the president for his leadership in dealing with these issues thoughtfully. Chairman McDevitt concluded with a line from the Old Testament which states that if the people have no vision, they will perish. He said that he believes Taiwan’s president has led the people of Taiwan, and the world, with a vision of how to navigate this great civilization crisis together. The delegation also included Members of the Japanese House of Representatives Kikawada Hitoshi, Aoyama Yamato, and Genma Kentaro, and Member of Parliament of the United Kingdom Gavin Williamson.

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

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

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

    Details
    2025-05-20
    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 –

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    Source: GlobeNewswire (MIL-OSI)

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    LinkedIn: https://www.linkedin.com/company/virturo-uk/

    YouTube channel: https://www.youtube.com/@Virturo_Official

    Facebook: https://www.facebook.com/people/Virturo/61570821814759/

    Media contact

    Brand: Virturo

    Contact: Media team

    Email: media@virturo.com

    Website: https://virturo.com

    The MIL Network –

  • MIL-OSI Africa: African Development Fund supports climate-resilient rice value chains across West Africa

    Source: APO – Report:

    The Board of Directors of the African Development Fund (ADF) (http://apo-opa.co/4nUpfmv), the concessional funding window of the African Development Bank Group (www.AfDB.org), on 17 July 2025 approved a $9.44 million grant for the Africa Rice Center (AfricaRice) to strengthen the climate resilience of rice value chains across West Africa.

    Funded through ADF’s Climate Action Window (http://apo-opa.co/4nVdlsD), the project will support rice producers and processors in 13 countries: Benin, Burkina Faso, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Senegal, Sierra Leone, and Togo.

    The initiative, part of the Regional Resilient Rice Value Chains Development Project in West Africa (REWARD), and specifically its adaptation component (REWARD-Adaptation), aims to scale up the adoption of climate-smart agricultural practices and technologies throughout the rice production and processing sectors.

    “The strategy for this project is to reduce the vulnerability and strengthen the resilience of rice value chains, from production to processing and marketing, while lowering greenhouse gas emissions through the dissemination and adoption of climate-smart practices and technologies,” said Marwan Ladki, Senior Irrigation Engineer at the African Development Bank, who is responsible for the project.

    Key project interventions include the distribution of climate-resilient rice seeds to 11,000 farmers, including 4,950 women and 6,600 young farmers. It will train 12,600 farmers and processors, support 65 small and medium-sized enterprises with equipment and improved access to business networks, and facilitate the provision of climate services and early warning systems through digital platforms and radio broadcasts, reaching up to 2 million beneficiaries. The project will also deploy four automatic weather stations per country to improve spatial coverage and climate monitoring. It is projected to create 47,000 employment opportunities, including 8,000 permanent and 39,000 seasonal jobs.

    – on behalf of African Development Bank Group (AfDB).

    Media contact:
    Alexis Adélé
    Department of Communication and External Relations
    media@afdb.org

    About AfricaRice:
    The Africa Rice Center (AfricaRice), based in Côte d’Ivoire, is a pan-African centre of excellence for rice research, development and capacity building. It contributes to reducing poverty, ensuring food and nutrition security, and improving the livelihoods of farmers and other actors in the rice value chain in Africa by increasing the productivity and profitability of rice-based agri-food systems, while ensuring the sustainability of natural resources.

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s leading development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). Represented in 41 African countries, with an external office in Japan, the Bank contributes to the economic development and social progress of its 54 regional member countries. For more information: www.AfDB.org

    Media files

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    MIL OSI Africa –

  • MIL-OSI Africa: DSTI welcomes state-of-the-art science training centre in Pretoria

    Source: Government of South Africa

    The Deputy Minister of Science, Technology, and Innovation, Nomalungelo Gina, has welcomed the opening of a groundbreaking new facility in Pretoria. 

    This facility is dedicated to enhancing South Africa’s scientific capacity and equipping the next generation of researchers with advanced skills in molecular science and laboratory management.

    Speaking at the official opening of the Centre for Advanced Training and Innovative Research (CATIR), Gina described the initiative as a milestone in the country’s journey to build a knowledge-based economy driven by innovation.

    CATIR is a partnership among the Department of Science, Technology, and Innovation (DSTI), the South African Medical Research Council (SAMRC), and Thermo Fisher Scientific, a United States-based company specialising in clinical and life sciences research.

    “By investing in this centre, we are investing in the future of South African science, empowering our researchers, nurturing young talent, and fostering an environment where innovation can thrive,” said the Deputy Minister. 

    Already benefiting from this initiative are students from previously disadvantaged universities such as Sefako Makgatho, Venda, and Limpopo.

    “This launch is especially significant, as it aligns with our Decadal Plan 2022–2032, which aims to build a transformed, inclusive and coherent National System of Innovation that responds to the needs of society and the economy,” Gina said.

    The CATIR will serve as a dedicated hub to provide practical, hands-on training in advanced molecular techniques and laboratory management, bridging the gap between academic study and real-world application. 

    Once fully operational, the facility will have the capacity to train up to 160 students annually. 

    The first cohort of 20 students is expected to complete training before the end of 2025.

    Gina highlighted the role of the SAMRC as a trusted project management partner, citing its proven track record in implementing capacity-building programmes that have benefited young scientists from historically under-resourced universities, including Zululand, Limpopo, Venda and Walter Sisulu.

    She welcomed Thermo Fisher as a partner in this endeavour, saying their expertise and resources would undoubtedly enhance the capabilities of CATIR and open new avenues for scientific discovery, as well as the future of South Africa’s young scientist community.

    President and CEO of SAMRC, Professor Ntobeko Ntusi, highlighted the vital need to enhance South Africa’s scientific skill set.

    Ntusi said the development of the CATIR reflected the SAMRC’s belief in the value of investing in the infrastructure and expertise that will help our country address local gaps in critical areas of science.

    “The COVID-19 pandemic taught us that we needed to do more to build skills in clinical and molecular testing to improve the resilience of our health system against the diseases of today and tomorrow. The opening of this important new educational facility is a landmark moment in our journey to achieving this important goal.”

    Urmi Prasad Richardson, President of Europe, the Middle East, and Africa at Thermo Fisher Scientific, stressed the importance of public-private collaboration in strengthening health systems.

    Richardson stated that the opening of the CATIR demonstrates the importance of public-private partnerships in helping to build a more resilient health system in South Africa and underpins their mission to enable customers to make the world healthier, cleaner and safer.

    “Alongside the SAMRC, we are proud to be investing our time, resources and knowledge into this important new facility to meet our shared goal of building locally relevant capabilities and expertise amongst the next generation of South Africa’s scientists,” she added. 

    The establishment of CATIR underscores the importance of partnership in building the skills and resilience required to address the health challenges of today and tomorrow.

    Gina called on all stakeholders to continue working together across sectors and disciplines to build a brighter, healthier, and more prosperous future for all. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI: Nearly 100,000 Participations Recorded! HTX’s 12th Anniversary “Mars Program” Special Event Ignites a Frenzy

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, July 18, 2025 (GLOBE NEWSWIRE) — HTX, a leading global cryptocurrency exchange, is proud to announce the overwhelming success of its “Mars Program” special event, a cornerstone of its 12th-anniversary celebrations. With nearly 100,000 participation counts already, this program underscores HTX’s dedication to driving Web3 innovation and fostering a vibrant community. The excitement intensifies with the impending space journey of Justin Sun, Advisor to HTX, marking the official launch of HTX’s 12th anniversary and ushering in a new era for the crypto space. Collaborating with esteemed ecosystem partners, HTX is actively distributing a substantial prize pool of up to $300,000, inviting global users to participate in this celebratory occasion.

    $300,000 Up for Grabs at HTX

    Event Details: https://www.htx.com/microapps/en-us/double-invite-retail/round-about?activityId=175187356313785&inviter_id=11357320

    A Dream of Space: HTX’s 12 Years of Innovation

    Since its inception in 2013, HTX has supported tens of millions of users worldwide, offering a wide range of services that include trading, asset management, and on-chain ecosystems. The platform remains steadfast in its commitment to advancing blockchain technology and fostering financial liberalization.

    HTX celebrates its 12th anniversary under the theme “Breaking Boundaries”. A space journey is a fitting tribute to the platform’s forward-looking vision—one that embraces technological innovation, human potential, and the ambition to reach new heights. More than a symbolic act, this cosmic voyage represents the fearless spirit of exploration that defines the Web3 era.

    “Mars Program” Sparks Global Participation

    To ensure widespread participation in the excitement of the space journey, HTX has meticulously launched the “Mars Program” special event series, offering a total prize pool of up to $300,000. Users who visit the “Mars Program” event page before July 30 and complete tasks like trading, subscribing to Earn products, inviting friends, or posting in the community can earn entries into a prize draw with rewards including TRX, Cashback Vouchers, Margin Interest Vouchers, Futures Trial Bonuses, APY Booster Coupons, and more.

    The event, launched on July 10, has experienced a continuous surge in popularity, attracting enthusiastic participants from across the globe. As of July 14, the event has accumulated nearly 100,000 participation counts, distributed almost 80,000 USDT in rewards, and awarded nearly 30 grand prizes of 888 TRX each. The event is still in full swing, demonstrating HTX’s strong user activity and market influence.

    Leading Web3 Development with Esteemed Sponsors

    The “Mars Program” special event is a collaborative effort between HTX and multiple TRON ecosystem projects. These pivotal partners of HTX are dedicated to driving innovation and practical applications within the Web3 ecosystem in their respective domains. Together with HTX, they are collectively striving to construct a more open, interconnected, and trustworthy blockchain future. Event sponsors include:

    SunPump: The TRON ecosystem’s first platform for fair launch meme coins.

    APENFT: The first NFT fair-launch platform in the TRON ecosystem, offering one-stop tools to empower creators, collectors, and projects.

    JUST Protocol: The TRON network’s first decentralized finance (DeFi) ecosystem.

    WINkLink: The first comprehensive oracle project in the TRON ecosystem, providing accurate and stable external digital currency price information for decentralized applications (DApps).

    BitTorrent: The world’s largest decentralized P2P communication protocol.

    Steemit: The first and foremost social platform on the Steem blockchain, launched in 2016.

    SunGenX: An AI-driven meme coin issuance assistant launched by SunPump, operating within the TRON ecosystem.

    Forward Outlook

    The “Mars Program” special event delivered outstanding results, setting a high note for HTX’s 12th-anniversary celebration. This landmark occasion serves not only as a reflection of HTX platform’s growth trajectory but also powerfully showcases the dynamic vitality of the Web3 ecosystem. Moving forward, HTX will reinforce its user-centric and technology-driven philosophy, actively expanding its global strategic presence, and fostering collaborative partnerships to build a more open, interconnected, and sustainable blockchain world.

    About HTX

    Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.

    As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.

    To learn more about HTX, please visit https://www.htx.com/ or HTX Square and follow HTX on X, Telegram, and Discord. For further inquiries, please contact glo-media@htx-inc.com.

    Disclaimer: This content is provided by HTX. 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/4c0381e1-e76e-4506-96b3-a6691d732b36

    The MIL Network –

  • MIL-OSI United Kingdom: Tomb Raider video game composer jailed for Covid loan fraud

    Source: United Kingdom – Executive Government & Departments

    Press release

    Tomb Raider video game composer jailed for Covid loan fraud

    Composer sentenced for Bounce Back Loan abuse following Insolvency Service investigations

    • Video game composer Peter Connelly has been jailed after fraudulently obtaining a second Covid Bounce Back Loan for his company
    • Connelly, known for his work on Tomb Raider, inflated his company’s turnover during the first few months of the pandemic in 2020
    • Insolvency Service investigations have also resulted in the 52-year-old being banned as a company director for six years

    A video game composer and sound designer who fraudulently applied for a Covid loan has been jailed.

    Durham-based Peter Connelly, best known for his work on the Tomb Raider series, overstated his company’s turnover to obtain a second Bounce Back Loan of £37,500 in 2020 when businesses were only entitled to a single loan.

    Connelly had previously secured a legitimate Bounce Back Loan worth £22,000 one month earlier.

    The 52-year-old, of Lambton Court, Peterlee, was jailed for 16 months at a hearing of Durham Crown Court on Thursday 17 July.

    He was also disqualified as a company director for six years.

    David Snasdell, Chief Investigator at the Insolvency Service, said:

    Peter Connelly blatantly disregarded the rules of the Bounce Back Loan Scheme, designed to support small and medium-sized businesses during the pandemic.

    Connelly not only secured two loans when businesses were only allowed one, but deliberately inflated his company’s turnover to receive more money than he was entitled to.

    The Insolvency Service is the lead agency for tackling Bounce Back Loan misconduct and we remain committed to ensuring fraudsters who stole from the public purse during a national emergency are brought to justice.

    Connelly was the sole director of Peter Connelly Limited, established in June 2008.

    The company was known as Universal Sound Design Limited up until November 2012, and it described its trading as “sound recording and music publishing activities”.

    Connelly’s first application for a Bounce Back Loan was in May 2020, when he secured £22,000. This application was within the rules of the scheme.

    However, one month later in June 2020, Connelly applied to a different bank for a Bounce Back Loan of £37,500, claiming his company’s turnover for 2019 was £150,000.

    Insolvency Service analysis revealed his turnover was just over £58,000, meaning he substantially inflated it on his second application.

    Connelly also falsely declared that this was the only loan he had applied for.

    In interviews, Connelly told the Insolvency Service that he had been given the opportunity to re-imagine the music for the Tomb Raider soundtrack. This was a significant project which had the potential to be very lucrative, he added.

    To complete the project, Connelly said he had taken out personal loans and sold his car.

    However, Connelly said everything stalled at the start of the pandemic.

    Peter Connelly Limited went into liquidation in August 2021. Neither loan had been repaid at this time.

    Connelly himself entered into an Individual Voluntary Arrangement (IVA) in June 2022, a legally binding agreement where he has committed to making regular payments to an insolvency practitioner to repay his debts.

    The IVA remains active.

    Further information

    Updates to this page

    Published 18 July 2025

    MIL OSI United Kingdom –

  • I&B Secretary urges AI startups to embrace India’s linguistic diversity, develop tools to bridge language gaps

    Source: Government of India

    Source: Government of India (4)

    Information & Broadcasting Secretary Sanjay Jaju on Thursday urged AI startups to create homegrown, scalable solutions that reflect India’s rich linguistic and cultural diversity.

    Speaking at a meeting with incubators and startups at T-Hub in Hyderabad, Jaju encouraged them to take part in the ‘Kalaa Setu’ and ‘Bhasha Setu’ challenges. These are part of the WaveX Startup Accelerator Platform launched by the Ministry of Information & Broadcasting.

    These initiatives, Jaju said, are aimed at building a future-ready digital ecosystem. They align with the Ministry’s goal of using AI to bridge language gaps and support regional content.

    WaveX is part of the Ministry’s larger WAVES initiative. It supports innovation in media, entertainment, and language technologies, in line with Prime Minister Narendra Modi’s vision to grow the creator economy.

    The ‘Bhasha Setu’ challenge focuses on AI tools for translation and voice-based communication to make it easier to interact in multiple languages. The ‘Kalaa Setu’ challenge supports tools that turn written content into audio, video, or graphics, helping reach more people in local languages.

    According to the I&B Ministry, shortlisted teams will present their ideas to a national jury in New Delhi. Winners will sign an MoU for full development and receive pilot support from All India Radio, Doordarshan, and the Press Information Bureau. They will also get incubation support from the WaveX Innovation Platform.

    Earlier in May 2025, at the WAVES Summit held in Mumbai, WaveX facilitated pitching opportunities for over 30 startups, enabling direct interaction with government agencies, investors, and industry leaders. The platform continues to support innovative ideas through hackathons, mentorship, and integration with national platforms.

  • MIL-OSI Africa: Health leaders to convene in Mozambique for innovation and action for immunization and child survival forum 2025

    Source: APO

    Global health leaders, policymakers, philanthropists, researchers, and advocates will gather in Maputo from 22–24 July 2025 for the Innovation and Action for Immunization and Child Survival Forum 2025 (https://www.ChildHealthForum2025.com/). This is a high-level convening aimed at accelerating progress toward expanding access to life-saving immunization and ending preventable child deaths across sub-Saharan Africa.

    Download document: https://apo-opa.co/3TJOhqP

    Hosted by the Governments of Mozambique and Sierra Leone, and in partnership with the Government of Spain, “la Caixa” Foundation, the Gates Foundation and UNICEF, the forum comes just five years to the Sustainable Development Goals (SDGs) 2030 deadline.

    “Mozambique is proud to host this critical gathering, at a time when the world is at a crossroads,” said Hon. Dr. Ussene Isse, Minister of Health of Mozambique. “Despite the unacceptable reality that we lose millions of children globally to preventable diseases each year, the rate of progress in reducing these deaths has slowed in the past 10 years, precisely when we need to accelerate. The decisions we make now will determine whether we keep our promise to every child to survive, to thrive, and to reach their fifth birthday. We must act boldly, together, and without delay.”

    A Defining Moment for Child Survival

    Incredible progress has reduced the number of deaths of children under the age of five by half since 2000. Yet today, almost five million children are still dying from preventable causes each year—58% of them in Sub-Saharan Africa. Preventable infectious diseases like pneumonia, malaria, diarrhea, and meningitis remain the global leading causes of death among children under five, while malnutrition contributes to 45% of all child deaths globally.

    “We cannot afford to let progress stall. We have a golden opportunity to dramatically expand our impact through bold leadership, sustainable financing, and coordinated strategies and alignment to reach the most vulnerable populations,” said Hon. Dr. Austin Demby, Minister of Health, Sierra Leone. “Breakthrough innovations like malaria vaccines, point of care tests, and ready-to-use therapeutic foods formulated to address malnutrition are improving our capacity to save young lives and prevent childhood deaths. At the same time, by weaving these innovations into our Life Stages Approach, we make sure every child receives the right intervention at the right time, whether it is a vaccine at birth, nutrition support during a growth setback, or follow-up care through the continuum of care as they grow; ensuring no child or opportunity is missed.”

    The convening will spotlight ongoing record levels of global funding cuts to public health programmes, including immunization. With increasing budgetary pressure within low- and middle-income countries and little room to immediately raise domestic and philanthropic funding to plug these gaps, the impact of these cuts is even more acute, especially in fragile and conflict-affected settings where children are nearly three times more likely to die before reaching age five.

    “This forum will be another milestone in our collective effort to build a world where every child gets to grow up and thrive. It’s a unique opportunity to continue fighting inequalities for the most vulnerable populations, always aligned with the Sustainable Development Goals and the Agenda 2030,” said H.R.H. Infanta Cristina, Director of the International Area at the “la Caixa” Foundation.

    Mapping a Clear Path Forward

    The forum will offer a platform for stakeholders to share best practices, explore how to scale up innovations, diagnostic tools and nutrition solutions to reach all children, especially the most vulnerable in conflict-afflicted and climate-impacted settings. Speakers will also emphasize strengthening service delivery through integrated child health platforms, community health worker programs and digital tools, as well as building sustainable financing by mobilizing domestic resources, pooling international aid, and exploring innovative financing mechanisms.

    “Every child deserves the chance to grow up healthy and thrive. Thanks to proven solutions and innovative care, we’ve made remarkable progress in helping more children survive their earliest, most vulnerable years. By investing in strong, integrated primary health-care systems and reaching every child with life-saving care—no matter who they are or where they live—we can save millions more young lives and build stronger families, communities, and futures,” said Dr. Yasmin Ali Haque, Director of Health, UNICEF.

    The convening will build on the momentum of the 2020 and 2023 Global Fora on Childhood Pneumonia (https://apo-opa.co/44UxUg0) to foster impactful partnerships, strengthen political will and mobilize Africa’s political and public health leaders to ensure all children are protected against the leading threats to their survival.

    “Despite remarkable progress, millions of children remain unreached, lacking access to vaccines or treatments for preventable diseases. This forum is a rallying cry for Africa and the world, because the final chapter in the global fight for child survival will be written on this continent. We must protect our children with the tools we have, invest in the innovations we need, and ensure no child is left behind,” said Keith Klugman, Director, Pneumonia and Pandemic Preparedness, Gates Foundation.

    Distributed by APO Group on behalf of Innovation and Action for Immunization and Child Survival Forum 2025.

    For interview requests, please contact:

    About the Innovation and Action for Immunization and Child Survival Forum 2025:
    The Innovation and Action for Immunization and Child Survival Forum 2025 will bring together stakeholders across selected countries in sub-Saharan Africa and other regions including senior health ministry officials, development agencies, donors, academia, civil society, and the private sector. Accordingly, it will focus on new and underutilized tools to deliver progress on child survival, more effective infectious disease risk mitigation and surveillance strategies, more efficient models of service delivery, the need for robust prioritization exercises including for routine immunization systems and new vaccine introductions, and innovative child survival financing options.

    For more information on the forum agenda, visit: https://www.ChildHealthForum2025.com/

    Media files

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    MIL OSI Africa –

  • MIL-OSI Africa: Call to address widening insurance protection gap

    Source: Government of South Africa

    With the surge in natural disasters in the last decade, the Governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has called on leaders in the Group of Twenty (G20) to bridge the gap in the natural catastrophe insurance protection gap.

    The gap refers to the difference between total economic losses and insured losses caused by natural catastrophe (NatCat) events.

    “Addressing the Natural Catastrophe Insurance protection gap is both urgent and consequential for both developed and emerging market economies.

    “The frequency and intensity of natural disasters are increasing, causing significant damage to property and infrastructure, impacting lives and livelihoods, and resulting in tremendous loss of life. The risks are global, but the burden is deeply unequal,” Kganyago explained.

    The Governor was speaking during the G20 Finance Ministers and Central Bank Governors (FMCBG) meetings in Durban on Thursday. 

    He was addressing senior leaders from governments, central banks and supervisors,  the private sector, and international organisations at a side event that discussed strategies and solutions for addressing  the widening insurance protection gap.

    NatCat protection gaps present a global challenge, affecting both advanced and emerging market and developing economies (EMDEs), and therefore require global responses. 

    In recent decades, damages and losses from NatCat events have surged due to the growing frequency and severity of extreme weather events, exacerbated by climate change.

    While insurance markets play a crucial role in mitigating the financial impacts stemming from these damages, their ability to offer adequate coverage is increasingly being challenged, leading to a widening insurance protection gap against NatCat events.

    “In many emerging and developing economies, the costs of these disasters are magnified by limited financial and significant lack of insurance protection.

    “Globally, it is estimated that over half of natural disaster losses remain uninsured. In EMDEs, that figure often exceeds 70%. South Africa, for example, is estimated at 71% and India at around 91%. This leaves households, businesses and governments dangerously exposed, compounding economic shock and slowing development for years or even decades,” the Governor said.

    Emerging market and developing economies face disproportionately higher protection gaps due to low insurance penetration, affordability challenges, underdeveloped insurance markets, and insufficient access to risk models and data.

    Significant insurance protection gaps are also observed in advanced economies, including Europe. In recent years, promoting insurance protection against NatCat events has become an important priority for policymakers and the international community.

    “From a central banking perspective and financial stability perspective, this is not a peripheral issue but a core issue. Uninsured losses from natural disasters can undermine economic stability, threaten the solvency of financial institutions and disrupt credit flows.

    “Moreover, when governments must step in with emergency funds or debt finance reconstruction, it places additional strain on already limited fiscal space,” he said.

    For central banks, policymakers and supervisors, bridging this protection gap is part of building macro financial resilience, the Governor said.

    Call for improved mechanisms

    “It calls for stronger risk sharing mechanisms, improved data and modelling of climate related risks and innovative insurance solutions such as parametric instruments, catastrophe bonds and regional risk pools.

    “More importantly, it requires a coordinated and collaborative effort across governments, insurance supervisors, the private sector, international organisations, multilateral development institutions and local communities to embed financial resilience into our climate and development strategies,” Kganyago said.

    He encouraged the global leaders to recognise that resilience is not built in the aftermath of disasters but in the deliberate and proactive planning and actions before they occur.

    “Insurance is not a luxury; it is a foundational and critical tool for sustainable development. Let’s think boldly about how we can address this protection gap beyond innovative products to include appropriate policies and regulations that are inclusive, accessible and tailored to jurisdictional instances, especially considering the realities of EMDEs,” the Governor said.

    The G20 South African Presidency, in collaboration with the International Association of Insurance Supervisors (IAIS) and the World Bank Group (WBG), hosted this side event during the G20 Finance Ministers and Central Bank Governors (FMCBG) meetings.

    The event focused on improving financial resilience and enhancing broader disaster risk mitigation strategies by identifying and addressing insurance protection gaps.

    Input paper 

    South Africa assumed the G20 Presidency on 1 December 2024 until 30 November 2025 under the theme: “Solidarity, Equality and Sustainability”.

    This initiative forms part of the G20 Sustainable Finance Working Group (SFWG) priority of scaling up finance for adaptation and just transitions, as discussed in an IAIS-WBG input paper, which will be published next week.

    The paper serves as a ‘guide for action’ to help jurisdictions narrow NatCat insurance protection gaps. The paper outlines practical and implementable actions that governments, supervisors, and the insurance industry can take, with a particular focus on EMDEs. 

    From 21 July 2025, the input paper can be accessed on the G20 SFWG website: https://g20sfwg.org/document-repository/.
    – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Business expectations for the third quarter of 2025

    Source: Hong Kong Government special administrative region

    Business expectations for the third quarter of 2025 
    Business Situation
     
    For all surveyed sectors taken together, the proportion of respondents expecting their business situation to be better (10%) in Q3 2025 over the preceding quarter is lower than that expecting it to be worse (18%).
     
    When compared with the results of the Q2 2025 survey round, the proportion of respondents expecting a better business situation in Q3 2025 is 10%, slightly higher than the corresponding proportion in Q2 2025 (9%). On the other hand, the proportion of respondents expecting a worse business situation in Q3 2025 is broadly the same as the corresponding proportion in Q2 2025 (18%).
     
    Analysed by sector, respondents in quite a number of the surveyed sectors expect their business situation to decrease on balance in Q3 2025 as compared with Q2 2025. In particular, significantly more respondents in the transportation, storage and courier services sector expect their business situation to be worse in Q3 2025 as compared with Q2 2025.
     
    The results of the survey should be interpreted with care. In this type of survey on expectations, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the future accords with the underlying trends. The enumeration period for this survey round was from June 3, 2025 to July 7, 2025.
     
    Volume of Business / Output
     
    Respondents in quite a number of the surveyed sectors expect their volume of business / output to decrease on balance in Q3 2025 as compared with Q2 2025. In particular, more respondents in the construction; transportation, storage and courier services; import/export trade and wholesale; accommodation and food services; and retail sectors expect their volume of construction output / business / sales to decrease in Q3 2025 over Q2 2025.
     
    Employment
     
    Respondents in quite a number of the surveyed sectors expect their employment to remain broadly unchanged in Q3 2025 as compared with Q2 2025. However, more respondents in the information and communications sector expect their employment to decrease in Q3 2025 over Q2 2025. In the real estate sector, on the other hand, more respondents expect their employment to increase, as compared to those expecting it to decrease.
     
    Selling Price / Service Charge
     
    Respondents in most of the surveyed sectors expect their selling prices / service charges to remain broadly unchanged in Q3 2025 as compared with Q2 2025. However, significantly more respondents in the construction sector expect their tender prices to go down in Q3 2025 over Q2 2025.
     
    Commentary
     
    A Government spokesman said that the overall near-term business outlook among large enterprises for the third quarter of 2025 was slightly better than the expectation for the previous quarter, while the hiring appetite remained stable.
     
    Looking forward, the spokesman said that the ongoing uncertainty in the external environment would continue to affect the local business sentiment. Nonetheless, the resilient local economy and sustained steady growth in the Mainland economy should provide support. The Government will continue to monitor the situation closely.
     
    Further Information
     
    The survey gathers views on short-term business performance from the senior management of about 560 prominent establishments in various sectors in Hong Kong with a view to providing a quick reference, with minimum time lag, for predicting the short-term future economic performance of the local economy.
     
    The survey covers 10 major sectors in Hong Kong, namely manufacturing; construction; import / export trade and wholesale; retail; accommodation and food services (mainly covering services rendered by hotels and restaurants); transportation, storage and courier services; information and communications; financing and insurance; real estate; and professional and business services sectors.
     
    Views collected in the survey refer only to those of respondents on their own establishments rather than those on the respective sectors they are engaged in, and are limited to the expected direction of quarter-to-quarter change (e.g. “up”, “same” or “down”) but not the magnitude of change. In collecting views on the quarter-to-quarter changes, if the variable in question is subject to seasonal variations, respondents are asked to provide the expected changes after excluding the normal seasonal variations.
     
    Survey results are generally presented as “net balance”, i.e. the difference between the percentage of respondents choosing “up” and that choosing “down”. The percentage distribution of respondents among various response categories (e.g. “up”, “same” and “down”) reflects how varied their business expectations are. The “net balance”, with its appropriate sign, indicates the direction of expected change in the variable concerned. A positive sign indicates a likely upward trend while a negative sign indicates a likely downward trend. However, the magnitude of the “net balance” reflects only the prevalence of optimism or pessimism, but not the magnitude of expected change, since information relating to such magnitude is not collected in the survey.
     
    Furthermore, owing to sample size constraint, care should be taken in interpreting survey results involving a small percentage (e.g. less than 10%) of respondents in individual sectors.
     
    Chart 1 shows the views on expected changes in business situation for the period Q3 2024 to Q3 2025.
     
    Table 1 shows the net balances of views on expectations in respect of different variables for Q3 2025.
     
    The survey results are published in greater detail in the “Report on Quarterly Business Tendency Survey, Q3 2025”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1110008&scode=300  
    Users who have enquiries about the survey results may contact the Business Expectation Statistics Section of the C&SD (Tel: 3903 7263; E-mail:     business-prospects@censtatd.gov.hkIssued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Mint Miner Launches Cloud Mining™: Free Bonuses and Guaranteed Crypto Returns for Everyone

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 18, 2025 (GLOBE NEWSWIRE) — Mint Miner, a leading global digital asset infrastructure provider, today officially launched its next-generation Cloud Mining™ platform, making it easy to earn cryptocurrencies without technical expertise.

    Offering a $15 sign-up bonus, fixed daily income, and zero maintenance fees, Mint Miner Cloud Mining™ opens the door for retail and institutional investors to participate in sustainable, transparent cryptocurrency mining—all from their smartphones.

    Whether you’re a newbie looking for risk-free or an experienced crypto holder seeking reliable returns, Mint Miner Cloud Mining™ offers a fast and easy path to passive income through Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and other cryptocurrencies.

    Mint Miner main features and advantages:
    Platform-friendly interface: Provide users with a clear and visible dashboard panel to view mining data in real time.

    ●New users can get $15 after registration and get a free trial contract with a daily reward of $0.6, without any prepayment.

    ●Fixed-rate mining contract
    A variety of contract packages are available with flexible terms. Each contract clearly lists the daily income and total income at maturity.

    ●No hidden fees, worry-free and labor-saving
    No hardware, no electricity, no maintenance. What you see is what you get – and predictable income.

    ●Support multiple assets
    Withdraw and recharge with BTC, ETH, USDT (ERC-20 and TRC-20), LTC, XRP, SOL, BCH, USDC, etc.

    ●Generous referral program
    Invite friends and family or share on your social platform to get monthly commission rewards.

    ●Global Coverage
    All contracts are supported by globally distributed mining farms that are powered by renewable energy and provide 24/7 multilingual support to ensure a seamless experience.

    Joining Mint Miner and starting cloud mining is very simple:
    1. Start registration – Open the Mint Miner official website and fill in your username, email, and password to complete the registration.
    2. Choose a contract – Choose a contract that fits your budget, and multiple types of contracts are available
    Here is a partial list of contracts:
    [New User Experience Contract]: Investment amount: $100, contract period: 2 days, maturity income: $100 + $10
    [Avalon Miner A13]: Investment amount: $500, contract period: 5 days, maturity income: $500 + $30.5
    [Bitcoin Miner S19 XP+ Hyd]: Investment amount: $1,500, contract period: 9 days, maturity income: $1,500 + $178.2
    [ETC Miner E9 Pro]: Investment amount: $3,200, contract period: 14 days, maturity income: $3,200 + $672
    [Antminer L7 ]: Investment amount: $5,200, contract period: 20 days, maturity income: $5,200 + $1,612
    [Bitcoin MinerS21+ Hyd]: Investment amount: $10,000, contract period: 28 days, maturity income: $10,000 + $4,760

    For more contracts, please log in to the Mint Miner official website

    1.  Start mining – View daily income growth in the dashboard and withdraw or reinvest at any time.

    Mint Miner’s mission is clear: to democratize cryptocurrency mining and make it accessible to everyday users. With Mint Miner CloudMining™, the future way to earn cryptocurrency income is accessible, automated, and powered by green energy.

    Join Mint Miner and start mining now – cryptocurrency never stops.

    Mint Miner’s CloudMining™ is not just a smart platform, but a step towards inclusive finance in the digital economy. With predictable profits, global coverage, and zero technical barriers to entry, the platform transforms the once complex world of cryptocurrency mining into an accessible experience for everyone.

    Media Contact:
    Contact Email: info@mintminer.com
    Official Website: https://mintminer.com/

    Attachment

    The MIL Network –

  • MIL-OSI Europe: Euro area monthly balance of payments: May 2025

    Source: European Central Bank

    18 July 2025

    • Current account recorded €32 billion surplus in May 2025, up from €19 billion in previous month
    • Current account surplus amounted to €333 billion (2.1% of euro area GDP) in the 12 months to May 2025, down from €364 billion (2.5%) one year earlier
    • In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled €758 billion and non-residents’ net acquisitions of euro area portfolio investment securities totalled €744 billion in the 12 months to May 2025

    Chart 1

    Euro area current account balance

    (EUR billions unless otherwise indicated; working day and seasonally adjusted data)

    Source: ECB.

    The current account of the euro area recorded a surplus of €32 billion in May 2025, an increase of €13 billion from the previous month (Chart 1 and Table 1). Surpluses were recorded for goods (€33 billion), services (€13 billion) and primary income (€2 billion). These were partly offset by a deficit for secondary income (€16 billion).

    Table 1

    Current account of the euro area

    Source: ECB.

    Note: Discrepancies between totals and their components may be due to rounding.

    Data for the current account of the euro area

    In the 12 months to May 2025, the current account recorded a surplus of €333 billion (2.1% of euro area GDP), compared with a surplus of €364 billion (2.5% of euro area GDP) one year earlier. This decrease was mainly driven by a shift from a surplus to a deficit for primary income (from a €34 billion surplus to a €5 billion deficit), but also by a larger deficit for secondary income (up from €169 billion to €185 billion) and a reduction in the surplus for services (down from €153 billion to €146 billion). These developments were partly offset by a larger surplus for goods (up from €346 billion to €378 billion).

    Chart 2

    Selected items of the euro area financial account

    (EUR billions; 12-month cumulated data)

    Source: ECB.

    Notes: For assets, a positive (negative) number indicates net purchases (sales) of non-euro area instruments by euro area investors. For liabilities, a positive (negative) number indicates net sales (purchases) of euro area instruments by non-euro area investors.

    In direct investment, euro area residents made net investments of €200 billion in non-euro area assets in the 12 months to May 2025, following net disinvestments of €215 billion one year earlier (Chart 2 and Table 2). Non-residents invested €126 billion in net terms in euro area assets in the 12 months to May 2025, following net disinvestments of €398 billion one year earlier.

    In portfolio investment, euro area residents’ net purchases of non-euro area equity increased to €203 billion in the 12 months to May 2025, up from €84 billion one year earlier. Over the same period, net purchases of non-euro area debt securities by euro-area residents increased to €555 billion, up from €490 billion one year earlier. Non-residents’ net purchases of euro area equity increased to €395 billion in the 12 months to May 2025, up from €275 billion one year earlier. Over the same period, non-residents made net purchases of euro area debt securities amounting to €349 billion, declining from €426 billion one year earlier.

    Table 2

    Financial account of the euro area

    Source: ECB.

    Notes: Decreases in assets and liabilities are shown with a minus sign. Net financial derivatives are reported under assets. “MFIs” stands for monetary financial institutions. Discrepancies between totals and their components may be due to rounding.

    Data for the financial account of the euro area

    In other investment, euro area residents recorded net acquisitions of non-euro area assets amounting to €518 billion in the 12 months to May 2025 (following net acquisitions of €212 billion one year earlier), while their net incurrence of liabilities was €172 billion (following disposals of €104 billion one year earlier).

    Chart 3

    Monetary presentation of the balance of payments

    (EUR billions; 12-month cumulated data)

    Source: ECB.

    Notes: “MFI net external assets (enhanced)” incorporates an adjustment to the MFI net external assets (as reported in the consolidated MFI balance sheet items statistics) based on information on MFI long-term liabilities held by non-residents, available in b.o.p. statistics. B.o.p. transactions refer only to transactions of non-MFI residents of the euro area. Financial transactions are shown as liabilities net of assets. “Other” includes financial derivatives and statistical discrepancies.

    The monetary presentation of the balance of payments (Chart 3) shows that the net external assets (enhanced) of euro area MFIs increased by €417 billion in the 12 months to May 2025. This increase was mainly driven by the current and capital accounts surplus and, to a lesser extent, euro area non-MFIs’ net inflows in other investment, and portfolio investment equity and debt. These developments were partly offset by euro area non-MFIs’ net outflows in direct investment.

    In May 2025 the Eurosystem’s stock of reserve assets increased to €1,507.7 billion up from €1,496.9 billion in the previous month (Table 3). This increase was mostly driven by positive price changes (€6.5 billion) and, to a lesser extent, by net acquisitions of assets (€2.3 billion) and positive exchange rate changes (€2.0 billion).

    Table 3

    Reserve assets of the euro area

    (EUR billions; amounts outstanding at the end of the period, flows during the period; non-working day and non-seasonally adjusted data)

    Source: ECB.

    Notes: “Other reserve assets” comprises currency and deposits, securities, financial derivatives (net) and other claims. Discrepancies between totals and their components may be due to rounding.

    Data for the reserve assets of the euro area

    Data revisions

    This press release incorporates revisions to the data for April 2025. These revisions did not significantly alter the figures previously published.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: GCA publishes 2024/25 annual report

    Source: United Kingdom – Executive Government & Departments

    News story

    GCA publishes 2024/25 annual report

    Read the GCA’s latest annual report.

    The GCA has published GCA Annual Report and Accounts 2024-25 (PDF, 10.3 MB, 82 pages)

    During the year covered by the report, Code compliance across the sector improved. According to the GCA’s 2025 annual survey, suppliers experienced fewer Code issues and the large retailers’ average Code compliance also increased. Eight of the retailers improved perceptions of their compliance, including each of the five lowest scoring retailers from 2024.

    The report covers the GCA’s work during 2024/25 to prevent potential Code breaches and ensure that the 14 retailers treated their suppliers fairly and lawfully. The issues that the GCA tackled included ensuring:

    • Suppliers are paid on time including by challenging issues with the retailers’ goods-in processes. The proportion of suppliers reporting having experienced a delay in payments fell from 14% to 11% in the 2025 survey.
    • Cost price increases and decreases are negotiated fairly. There was a drop from 16% to 14% in the proportion of suppliers highlighting issues with a retailer’s handling of a request for a cost price increase.
    • The large retailers are clearly communicating to suppliers about their change programmes, such as the introduction of new systems to provide more accurate forecasts or improve goods-in processes.

    The annual report fulfils the GCA’s statutory reporting requirements, providing an update on its financial position.

    Further information

    Provide evidence confidentially to the GCA’s investigation into Amazon

    Register to attend the GCA annual conference on 30 September 2025

    See the GCA’s 2025 annual survey results

    Sign up to the GCA newsletter

    Follow the GCA on LinkedIn and X

    Updates to this page

    Published 18 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: SPbGASU has proven that the aesthetics of solid waste facilities increases their efficiency

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering –

    An important disclaimer is at the bottom of this article.

    Valeria Supranovich, Arina Safronova

    SPbGASU has proven that the aesthetics of a solid municipal waste (MSW) handling facility increases its energy efficiency, energy conservation and environmental friendliness throughout its entire service life.

    During her five-year research, Valeria Supranovich, PhD in Architecture and Associate Professor of the Department of Architectural Design at SPbGASU, identified a number of possible high-quality architectural solutions that, in conjunction with technological systems for self-sufficiency of buildings and facade elements, will allow them to organically fit into the urban system. The Associate Professor also developed ways to integrate additional public functions into these objects at various economic costs. All this will allow the implementation of sustainable development goals in the architecture of solid waste management facilities. Valeria Supranovich completed this research work, “Methods of Functional Planning Organization of Solid Waste Management Facilities in Russia,” within the framework of the grant of scientific and pedagogical workers of SPbGASU 2025.

    Since March 2024, amendments to Federal Law No. 451 “On Production and Consumption Waste” have come into force, which have completely updated the waste management system and the regulatory process in terms of extended responsibility of the manufacturer of goods. Moreover, within the framework of the programs of the XXIV International Forum “Ecology of the Big City” and the St. Petersburg International Economic Forum, held in St. Petersburg in 2025, agreements were signed to finance projects for the construction of waste disposal facilities, the creation of the necessary infrastructure to reduce the percentage of waste disposal and the country’s transition to a “closed loop” economy (a production and consumption model that involves reuse, recovery and recycling of existing materials and products for as long as possible) to achieve the goals of sustainable development of the country. This is a powerful impetus for the active implementation of solid waste management facilities in the existing urban system.

    “Today, approaches to the design of solid waste facilities and the facilities themselves do not meet the goals of sustainable development, as they are considered economically inexpedient. However, in the course of scientific research conducted from 2020 to 2025, I was able to identify the opportunity to revise the existing methods of project activities. One example of waste management facilities that meet the goals of sustainable development is the world’s largest W2E plant “Shenzhen Energy Ring” (Shenzhen, China). The new plant is designed to process 5,000 tons of waste per day and simultaneously produce 600 million kilowatt-hours per year. The facility has a round shape, uncharacteristic for manufacturing enterprises, to combine all production units into a single structure and simultaneously reduce the area of the plant, includes zones for the formation and popularization of waste disposal procedures, and photovoltaic panels are provided for on the roof. The architecture of the facility is not utilitarian, it corresponds to the context of the environment,” explained Valeria Supranovich.

    In the course of the current scientific research, she studied the theoretical components of the concept of “sustainable architecture” and proposed a system of their interaction. It was established that the aesthetic qualities of the object allow not only to humanize the appearance of the enterprise, but also to ensure high energy efficiency, environmental friendliness and energy saving of the building throughout the expected service life. The goals of sustainable development in the architecture of waste management facilities should be implemented taking into account their typological affiliation, Valeria Supranovich clarified.

    Some theoretical results of this study were implemented in her diploma work “Technopark complex with waste processing function, Saint Petersburg, Yuntolovo district” by Arina Safronova, a graduate of the master’s program of the Department of Architectural Design of SPbGASU (supervisor – Valeria Supranovich).

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI: Ripple’s XRP Mining News: PFMCrypto Launches First-Ever Cloud Mining for XRP with AI-Optimized Daily Rewards

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 18, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of XRP-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine XRP remotely and receive daily XRP rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the XRP economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

    XRP Cloud Mining Is Here—Simple, Smart, and Rewarding
    Traditionally known for its role in cross-border payments and institutional finance, XRP now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine XRP directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including BTC, ETH, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.
    Designed for both everyday users and professional investors, this platform empowers users to generate consistent crypto earnings from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts
    –  Full XRP Integration: Deposit, purchase, mine, and withdraw XRP directly within the platform.
    –  Multi-Coin Mining Support: Mine and receive earnings in BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
    –  AI Revenue Optimization: Proprietary algorithms automatically allocate mining power to the top-performing assets to maximize returns.
    –  100% Remote Access: No mining equipment needed—fully accessible via the PFMCrypto mobile app or browser.
    –  Capital Protection: All contracts include full principal return upon maturity, reducing risk while growing crypto assets.

    Mining Contracts for Every Budget and Strategy:
    PFMCrypto offers a broad range of mining contracts that support XRP-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in XRP.
    Click here to explore more XRP cloud contracts.

    Why PFMCrypto’s XRP Mining Stands Out?
    –  Accessible to Everyone: No mining rigs, no setup, no complexity—just tap and earn.
    –  XRP-Native Integration: Deposit, mine, and withdraw XRP in one seamless ecosystem.
    –  Stable Returns, Smart Allocation: An AI-powered engine dynamically adjusts mining strategies to maximize rewards and ensure daily income across all supported coins.
    –  Multi-Asset Flexibility: Mine XRP directly or diversify earnings into other top digital assets—all with one contract.
    –  Instant Setup, Global Access: Mine from anywhere using your phone or browser—securely and remotely.

    Get Started Today in 3 Easy Steps:
    1.  Sign Up – Create your account and receive a $10 welcome bonus
    2.  Choose a Plan – Select a short- or long-term contract (1–60 days available)
    3.  Start Earning – Track daily profits and withdraw in the token of your choice

    Start mining XRP now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app (available for iOS & Android).

    XRP Mining for a Digital Future
    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of XRP mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in XRP or diversify into major digital assets—all within a secure, fully remote environment.
    “XRP has always been fast, efficient, and scalable,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future growth.”
    Markets may shift—but daily mining income can remain steady.

    Join the XRP mining revolution today at: https://pfmcrypto.net

    The MIL Network –

  • MIL-OSI: Ripple’s XRP Mining News: PFMCrypto Launches First-Ever Cloud Mining for XRP with AI-Optimized Daily Rewards

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 18, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of XRP-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine XRP remotely and receive daily XRP rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the XRP economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

    XRP Cloud Mining Is Here—Simple, Smart, and Rewarding
    Traditionally known for its role in cross-border payments and institutional finance, XRP now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine XRP directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including BTC, ETH, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.
    Designed for both everyday users and professional investors, this platform empowers users to generate consistent crypto earnings from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts
    –  Full XRP Integration: Deposit, purchase, mine, and withdraw XRP directly within the platform.
    –  Multi-Coin Mining Support: Mine and receive earnings in BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
    –  AI Revenue Optimization: Proprietary algorithms automatically allocate mining power to the top-performing assets to maximize returns.
    –  100% Remote Access: No mining equipment needed—fully accessible via the PFMCrypto mobile app or browser.
    –  Capital Protection: All contracts include full principal return upon maturity, reducing risk while growing crypto assets.

    Mining Contracts for Every Budget and Strategy:
    PFMCrypto offers a broad range of mining contracts that support XRP-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in XRP.
    Click here to explore more XRP cloud contracts.

    Why PFMCrypto’s XRP Mining Stands Out?
    –  Accessible to Everyone: No mining rigs, no setup, no complexity—just tap and earn.
    –  XRP-Native Integration: Deposit, mine, and withdraw XRP in one seamless ecosystem.
    –  Stable Returns, Smart Allocation: An AI-powered engine dynamically adjusts mining strategies to maximize rewards and ensure daily income across all supported coins.
    –  Multi-Asset Flexibility: Mine XRP directly or diversify earnings into other top digital assets—all with one contract.
    –  Instant Setup, Global Access: Mine from anywhere using your phone or browser—securely and remotely.

    Get Started Today in 3 Easy Steps:
    1.  Sign Up – Create your account and receive a $10 welcome bonus
    2.  Choose a Plan – Select a short- or long-term contract (1–60 days available)
    3.  Start Earning – Track daily profits and withdraw in the token of your choice

    Start mining XRP now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app (available for iOS & Android).

    XRP Mining for a Digital Future
    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of XRP mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in XRP or diversify into major digital assets—all within a secure, fully remote environment.
    “XRP has always been fast, efficient, and scalable,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future growth.”
    Markets may shift—but daily mining income can remain steady.

    Join the XRP mining revolution today at: https://pfmcrypto.net

    The MIL Network –

  • MIL-OSI: Bitget Launchpool Lists Caldera (ERA) with over 2.6M in Token Rewards

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, July 18, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Caldera (ERA) for spot trading. Caldera is a rollup platform on Ethereum that enables horizontal scaling and interoperability between rollups. Trading for the ERA/USDT pair began on 17 July 2025, 15:30 (UTC), with withdrawals available from 18 July 2025, 16:30 (UTC).

    Bitget will launch a Launchpool campaign offering 2,666,600 ERA in total rewards. Eligible users can participate by locking BGB, BTC or ETH during the event, which runs from 18 July 2025, 05:00 to 21 July 2025, 05:00 (UTC). In the BGB locking pool, users can lock between 5 to 50,000 BGB, with maximum limits determined by their VIP tier, for a chance to earn a share of 1,000,000 ERA. In the BTC pool, users can lock between 0.0001 and 23 BTC to receive a portion of 833,300 ERA. In the ETH pool, users can lock between 0.002 and 450 ETH to grab a share of 833,300 ERA.

    Caldera is a Web3 infrastructure platform that streamlines the creation of customizable Ethereum L2 rollups, enabling developers to configure elements like gas tokens, data availability layers, and technology stacks including Arbitrum, Optimism, and zkSync. At its core is the Metalayer protocol, designed to unify rollups by facilitating shared liquidity and efficient cross-chain communication. With support for over 50 rollups, Caldera powers a growing ecosystem that manages between $400–600 million in TVL and serves 27 million wallets, making it a critical player in Ethereum’s broader scaling architecture.

    Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of Caldera into Bitget’s portfolio marks a significant step toward expanding its ecosystem by embracing niche communities and fostering innovation in decentralized economies, further solidifying its role as a gateway to diverse Web3 projects and cultural movements.

    For more details on Caldera, visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.

    Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ad44618-7b23-4379-b633-042ee5973b16

    The MIL Network –