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Category: European Union

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

    MIL OSI Economics –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

    MIL OSI Economics –

  • MIL-OSI Economics: Gabriel Makhlouf: Remarks – 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature

    Source: Bank for International Settlements

    Good morning everyone. Thank you to the Museum of Literature Ireland for hosting this event. Let me also extend a warm welcome to the Right Honourable the Lord Mayor of Dublin, Councillor Emma Blain and to all our distinguished guests.

    We are here today to the launch our coin to commemorate the 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature. We issue commemorative coins on behalf of the Minister for Finance. Their aim is to recognise figures, or events, of national importance and we are here today to celebrate one of Ireland’s greatest literary geniuses, George Bernard Shaw. Shaw is one of Ireland’s four Nobel Literature winners and, in fact, until 2016, was the only person to have won both a Nobel Prize for Literature and an Academy Award (in 1939). Bob Dylan joined him in that club in 2016. 

    This coin is a tangible tribute to one of the brilliant minds of the 20th century. He was awarded the Nobel Prize in 1925 “for his work which is marked by both idealism and humanity, its stimulating satire often being infused with a singular poetic beauty”. Fintan O’Toole described him as the “most globally influential Irish person in history”, noting praise from Jawaharlal Nehru, Albert Einstein and Winston Churchill.  

    Shaw was more than a literary figure. Thomas Mann, a fellow Nobel Laureate four years after Shaw, wrote in his obituary tribute that “when we add the floodtide of essays, commentary, and amplifying criticism, embodying an all-embracing encyclopedic knowledge that draws equally on the natural sciences, theology, religious and general history, and especially on the social-economic sphere, always artistically leavened, full of esthetic charm, and unfailingly entertaining – when we add all this, we find ourselves face to face with a lifework of astonishing scope, apparently the fruit of continued inspiration, unceasing merriness, and of an indefatigable will to work.” 

    Shaw was also an orator who “with his lyrical Irish accent [-] could turn the classical rhetorical tradition into something apparently intimate and conversatonal, without losing its rhythms and vigour” (O’Toole). He was a man of formidable intellect and sharp wit and his works continue to resonate with audiences and scholars around the globe. As Mann also wrote, Shaw “tirelessly wielded the shining sword of his word and wit” against stupidity and “did his best in redressing the fateful imbalance between truth and reality, in lifting mankind to a higher rung of maturity.” As O’Toole says, “the most important aspect of his influence is not what Shaw taught people to think but how he taught them to think.”

    In an era of alternative truths and disinformation bubbles, perhaps his work has become more relevant than ever. 

    Conclusion

    Before I conclude, I’d like to thank some of the people who’ve helped to organise this event. Specifically, I want to pay tribute to the Central Bank’s Currency Centre team for the immense work they do each year on the collector coin series and I’d like to acknowledge the ongoing work of the Numismatic Advisory Panel who support the Bank’s programme.

    George Bernard Shaw left a significant legacy of theatrical, fictional, polemical, critical and philosophical writing. He wrote that “an Irishman’s heart is nothing but his imagination” and his appreciation and understanding of Ireland had a profound influence on his career. We take great pride in the issuing of commemorative coins and we are delighted in issuing this coin today. Shaw would probably have found the notion of his face on a coin rather strange – and he would have complained that we were commemorating him at all, as he did when awarded the Nobel Prize – but I hope he would also appreciate the enduring recognition it represents. 

    MIL OSI Economics –

  • MIL-OSI Economics: Gabriel Makhlouf: Remarks – 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature

    Source: Bank for International Settlements

    Good morning everyone. Thank you to the Museum of Literature Ireland for hosting this event. Let me also extend a warm welcome to the Right Honourable the Lord Mayor of Dublin, Councillor Emma Blain and to all our distinguished guests.

    We are here today to the launch our coin to commemorate the 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature. We issue commemorative coins on behalf of the Minister for Finance. Their aim is to recognise figures, or events, of national importance and we are here today to celebrate one of Ireland’s greatest literary geniuses, George Bernard Shaw. Shaw is one of Ireland’s four Nobel Literature winners and, in fact, until 2016, was the only person to have won both a Nobel Prize for Literature and an Academy Award (in 1939). Bob Dylan joined him in that club in 2016. 

    This coin is a tangible tribute to one of the brilliant minds of the 20th century. He was awarded the Nobel Prize in 1925 “for his work which is marked by both idealism and humanity, its stimulating satire often being infused with a singular poetic beauty”. Fintan O’Toole described him as the “most globally influential Irish person in history”, noting praise from Jawaharlal Nehru, Albert Einstein and Winston Churchill.  

    Shaw was more than a literary figure. Thomas Mann, a fellow Nobel Laureate four years after Shaw, wrote in his obituary tribute that “when we add the floodtide of essays, commentary, and amplifying criticism, embodying an all-embracing encyclopedic knowledge that draws equally on the natural sciences, theology, religious and general history, and especially on the social-economic sphere, always artistically leavened, full of esthetic charm, and unfailingly entertaining – when we add all this, we find ourselves face to face with a lifework of astonishing scope, apparently the fruit of continued inspiration, unceasing merriness, and of an indefatigable will to work.” 

    Shaw was also an orator who “with his lyrical Irish accent [-] could turn the classical rhetorical tradition into something apparently intimate and conversatonal, without losing its rhythms and vigour” (O’Toole). He was a man of formidable intellect and sharp wit and his works continue to resonate with audiences and scholars around the globe. As Mann also wrote, Shaw “tirelessly wielded the shining sword of his word and wit” against stupidity and “did his best in redressing the fateful imbalance between truth and reality, in lifting mankind to a higher rung of maturity.” As O’Toole says, “the most important aspect of his influence is not what Shaw taught people to think but how he taught them to think.”

    In an era of alternative truths and disinformation bubbles, perhaps his work has become more relevant than ever. 

    Conclusion

    Before I conclude, I’d like to thank some of the people who’ve helped to organise this event. Specifically, I want to pay tribute to the Central Bank’s Currency Centre team for the immense work they do each year on the collector coin series and I’d like to acknowledge the ongoing work of the Numismatic Advisory Panel who support the Bank’s programme.

    George Bernard Shaw left a significant legacy of theatrical, fictional, polemical, critical and philosophical writing. He wrote that “an Irishman’s heart is nothing but his imagination” and his appreciation and understanding of Ireland had a profound influence on his career. We take great pride in the issuing of commemorative coins and we are delighted in issuing this coin today. Shaw would probably have found the notion of his face on a coin rather strange – and he would have complained that we were commemorating him at all, as he did when awarded the Nobel Prize – but I hope he would also appreciate the enduring recognition it represents. 

    MIL OSI Economics –

  • MIL-OSI Video: UK 🔴 PMQs LIVE: Prime Minister’s Questions – 2 July 2025

    Source: United Kingdom UK Parliament (video statements)

    Watch PMQs with British Sign Language (BSL) – https://youtube.com/live/B7qKlsjXNm8

    Prime Minister’s Question Time, also referred to as PMQs, takes place every Wednesday the House of Commons sits. It gives MPs the chance to put questions to the Prime Minister, Sir Keir Starmer MP, or a nominated minister.

    In most cases, the session starts with a routine ‘open question’ from an MP about the Prime Minister’s engagements. MPs can then ask supplementary questions on any subject, often one of current political significance.

    The Leader of the Opposition, Kemi Badenoch MP, asks six questions and the leader of the second largest opposition party asks two. If another minister takes the place of the Prime Minister, opposition parties will usually nominate a shadow minister to ask the questions.

    Want to find out more about what’s happening in the House of Commons this week? Follow the House of Commons on:

    Twitter: https://www.twitter.com/HouseofCommons
    Facebook: https://www.facebook.com/ukhouseofcommons
    Instagram: https://www.instagram.com/ukhouseofcommons

    https://www.youtube.com/watch?v=YCEpY7bGp9s

    MIL OSI Video –

  • MIL-OSI Video: UK 🔴 LIVE: Prime Minister’s Questions with British Sign Language (BSL) – 2 July 2025

    Source: United Kingdom UK Parliament (video statements)

    Prime Minister’s Question Time, also referred to as PMQs, takes place every Wednesday the House of Commons sits. It gives MPs the chance to put questions to the Prime Minister, Sir Keir Starmer MP, or a nominated minister.

    In most cases, the session starts with a routine ‘open question’ from an MP about the Prime Minister’s engagements. MPs can then ask supplementary questions on any subject, often one of current political significance.

    The Leader of the Opposition, Kemi Badenoch MP, asks six questions and the leader of the second largest opposition party asks two. If another minister takes the place of the Prime Minister, opposition parties will usually nominate a shadow minister to ask the questions.

    Want to find out more about what’s happening in the House of Commons this week? Follow the House of Commons on:

    Twitter: https://www.twitter.com/HouseofCommons
    Facebook: https://www.facebook.com/ukhouseofcommons
    Instagram: https://www.instagram.com/ukhouseofcommons

    https://www.youtube.com/watch?v=B7qKlsjXNm8

    MIL OSI Video –

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

    Source: Republic of China Taiwan

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

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

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

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

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

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

    MIL OSI Asia Pacific News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    AI-Native Blockchain Infrastructure

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

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

    Strategic Tokenomics and Developer Support

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

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

    Final Bonus Phase Open Now

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

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

    Key Upcoming Milestones

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


    Learn More or Join the Bonus Phase

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

    Contact:
    SHAJAN SKARIA
    media@lightchain.ai

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

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

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

    The MIL Network –

  • MIL-OSI United Kingdom: Ratepayers Ignored as Belfast City Council Pours Millions into Identity Politics

    Source: Traditional Unionist Voice – Northern Ireland

    Statement by TUV deputy leader Court councillor Ron McDowell:
    “Having discovered a £2.9 million underspend, the Belfast City Council has now allocated:
          •     £1.9 million to an Irish Language Strategy,
          •     £500,000 to newcomer families,
          •     £440,000 to cleaning equipment, and
          •     £100,000 to biodiversity measures.
    “The most important duty of any elected representative is the prudent use of public money.
    “Just as in our own households — when we find ourselves with a little extra — it is only wise to use it carefully, for the good of everyone under the roof.
    “Regrettably, Belfast City Council has taken the opposite approach.
    “This is not responsible governance. It is, frankly, a dereliction of duty and an insult to many hardworking ratepayers.
    “Let’s be clear: there is nothing inclusive about the Council’s aggressive promotion of the Irish language. The imposition of bilingual signage in areas where it commands minimal support has already created division and resentment. Now, to give two-thirds of this entire pot to that agenda sends a message loud and clear — that one cultural identity is to be elevated above all others, and that it is being done at the expense of the wider community.
    “The decision to allocate half a million pounds specifically to “newcomer families” is also deeply unbalanced. The Council’s first obligation must be to those who have long contributed to this city through their rates and taxes. Meeting their needs — many of which remain unaddressed — would benefit everyone in Belfast, regardless of background. Singling out one group for special treatment is a recipe for division, not inclusion.
    “And what of the £100,000 set aside for “biodiversity measures”? I doubt you’d find a single ratepayer who would place that among their top twenty priorities — let alone in the top four.
    “These decisions reveal a Council willing to prioritise pet projects and identity politics over the everyday needs of its citizens. It is prepared to elevate some while ignoring many. It carves up public money not on the basis of fairness or shared benefit—but on the basis of narrow interests.
    “That is not responsible leadership.
    “It is not inclusive governance.
    “And it is not what Belfast needs.”

    MIL OSI United Kingdom –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    Additional notes

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

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

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

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

    Notes to editors 

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

    Enquiries

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    Additional notes

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

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

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

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

    Notes to editors 

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

    Enquiries

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

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

    The MIL Network –

  • MIL-OSI Economics: Christine Lagarde: Culture and the economy

    Source: Bank for International Settlements

    It is a pleasure to be here at the Munich Opera Festival.

    This festival draws on a tradition that stretches back 150 years. And over the next five weeks, audiences will experience a rich variety of performances.

    The programme includes some of opera’s canonical heavyweights, like Mozart’s Don Giovanni. But it also ventures into rarer territory, with works such as Strauss’s Die Liebe der Danae.

    But one work especially caught my eye: Fauré’s Pénélope, which will be performed at the Bavarian State Opera for the first time at this year’s festival.

    Now, I can already hear some members of the audience thinking: “Well, of course she chooses the French one.” Yes, but I would like to highlight Pénélope for an entirely different reason.

    It is the perfect distillation of European culture – both past and present.

    It is a story based on a Greek myth. After all, Pénélope is the loyal wife of Odysseus in Homer’s Odyssey. It is a story reimagined as an opera, an art form with roots in late 16th century Italy. It was written in France and performed in the country’s native language. And it is now being directed here in Munich.

    This opera is an odyssey through European culture itself – from ancient Greece to modern Germany, via Italy and France. It is also the story of a resilient woman.

    MIL OSI Economics –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Thank you.

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

    MIL OSI Economics –

  • MIL-OSI China: Gonzalo heads Real Madrid past Juventus and into Club World Cup quarters

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

    Gonzalo Garcia’s second-half header lifted Real Madrid to a 1-0 victory over Juventus on Tuesday, securing the Spanish side a place in the FIFA Club World Cup quarterfinals.

    Vinicius Junior (L) of Real Madrid vies with Manuel Locatelli of Juventus during the round of 16 match between Spain’s Real Madrid and Italy’s Juventus FC at the FIFA Club World Cup 2025 at the Hard Rock Stadium, Miami, Florida, the United States, July 1, 2025. (Xinhua/Wu Xiaoling)

    The breakthrough came in the 54th minute when Trent Alexander-Arnold delivered a precise cross from the right, allowing Garcia to nod home from close range. The 21-year-old now has three goals and one assist in four tournament matches.

    Persistent rain in the Hard Rock Stadium area eased shortly before kickoff, avoiding further delays after earlier weather disruptions during the tournament.

    Juventus made six changes to its starting lineup, with Kenan Yildiz, Francisco Conceicao and Randal Kolo Muani replacing Nicolas Gonzalez, Teun Koopmeiners and Dusan Vlahovic in the attack.

    Real Madrid welcomed back star forward Kylian Mbappe, who was named as a substitute after having missed the group stage with gastroenteritis.

    Despite Madrid controlling early possession, Juventus carved out the sharper chances. Yildiz intercepted a pass and surged through midfield to slip Kolo Muani through on goal, but the French forward lifted his effort over the bar. Yildiz threatened again minutes later, forcing a corner with a deflected shot.

    Jude Bellingham nearly opened the scoring for Madrid in the 29th minute, but Juventus goalkeeper Michele Di Gregorio produced a reflex save to deny him from Alexander-Arnold’s cutback. Di Gregorio kept his side in the match with another close-range stop to deny Federico Valverde just before halftime.

    The Italian keeper continued his strong performance after the break, parrying efforts from both Bellingham and Dean Huijsen, but was finally beaten by Garcia’s decisive header.

    Garcia made way in the 68th minute for Mbappe, who made his Club World Cup debut.

    Late saves from Di Gregorio kept Juventus in contention, but the Serie A side failed to find an equalizer against Madrid’s disciplined defense.

    Real Madrid will face either Borussia Dortmund or Monterrey – who play later Tuesday night – in Saturday’s quarterfinal in New York.

    MIL OSI China News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    – 

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

    – 

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    – 

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

    – 

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

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

    The MIL Network –

  • MIL-OSI Russia: Sergei Sobyanin told how Moscow art schools reveal talents

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Over the past academic year, students from Moscow art schools won more than 26,000 awards. How these educational institutions reveal talents, he told in his blog Sergei Sobyanin.

    “Moscow is deservedly proud of its developed network of city institutions of creative education: 153 educational institutions, each with its own long-standing traditions, but with a single standard of comfort and equipment. Today, they teach more than 40 areas in the field of music, painting, choreography and theater. About 100 thousand children study in Moscow art schools. And among them, there are many who will eventually turn their passion into a life’s work,” the Mayor of Moscow wrote.

    He noted that, as in any other business, success in a creative profession is achieved through hard daily work and regular participation in competitions. Competitions with peers provide indispensable experience and incentive to improve one’s art, and victories open up new horizons.

    Last academic year, students from the capital’s art schools represented the capital at more than 20 venues around the world.

    “Muscovites have won prizes in creative competitions in Andorra, Austria, Belarus, Bulgaria, Spain, China, Cyprus, the Netherlands, the USA, Switzerland and other countries: a total of 10,000 awards and incentive prizes, including more than 280 Grand Prix,” said Sergei Sobyanin.

    In addition, students from Moscow art schools have won more than 16 thousand awards at all-Russian and regional competitions and festivals, which sometimes significantly exceed international projects in terms of the number of participants.

    Winners of competitions in Beijing, New York and Spain

    In March-April, the IX International Festival-Competition “Golden Lotus” was held in Beijing. Elizaveta Menzhinskaya, a student of the B.L. Pasternak Children’s Music School, performed a solo program, as well as in a duet with her teacher Galina Ermakova.

    According to the jury’s decision, they were awarded the title of first-degree laureates as performers on large flutes, and third-degree laureates on piccolo flutes. The winners’ repertoire includes the works “Ksenia” and “Tarantella” by Yevgeny Magalif, Lensky’s aria from the opera “Eugene Onegin” by Pyotr Tchaikovsky, and the Karelo-Finnish Polka by Boris Tikhonov.

    In March, Alexey Mishchenko, a student of the children’s music school of the Moscow State College of Musical Performance (MGKMI) named after Frederic Chopin, won first prize at the international Golden Classical Music Awards competition in New York for his piano performance of Frederic Chopin’s Ballade No. 1 and Wolfgang Amadeus Mozart’s Sonata for piano No. 13 in B-flat major. In addition, he won first place at the international Clavierland Mozart Classical Music Competition and performed in the final concert of the laureates in Vienna, which took place in March at the Mozart House.

    Maya Shelikhova, a student of the Moscow City United Children’s School of Arts (MGODSHI) “Kuskovo”, became a first-degree laureate at the international competition of culture and arts Festival

    Laureates of competitions in Belarus, the Netherlands and Switzerland

    Students of the I.S. Kozlovsky Children’s Art School took almost the entire podium at the Republican Festival-Competition of Children’s Art “Lvenok” in the city of Lida (Belarus).

    Among the soloists, Dana Shakova won first place, performing the piece “Twilight” by composer Max Eichorn and “Dance” by Ezra Jenkinson on the violin; second place was taken by Antonina Struchevskaya, Maria Tuaeva, Ivan Fedotov, and Gleb Sakharov.

    Antonina Struchevskaya played “Moldavian Dance” by Boris Dubossarsky and “Arioso” by Karl Bohm, Maria Tuaeva played a piece by Manfred Schmitz on the violin. Gleb Sakharov played “March of the Wooden Soldiers” by Pyotr Tchaikovsky on the snare drum, and “Tarantella” by Sergei Prokofiev on the xylophone, Ivan Fedotov played “Hunt for a Butterfly” by Irina Iordan on the snare drum, and “Scherzino” by Viktor Kosenko on the xylophone.

    The third-degree laureate was Milana Ponomareva. She presented the play “Merry Journey” by Dmitry Kabalevsky (snare drum) and “Minuet” by Luigi Boccherini (xylophone) to the competition.

    The first place among the groups was won by the instrumental trio “Notka Boom”, which performed the works “Walking the Dog” by Peter Martin and “Beauty and the Beast” by Howard Ashman.

    In April, the Dutch International Flute Competition was held in Ittervoort (Netherlands). The laureates of the competition were talented flutists from the Gnessin Moscow Secondary Specialized Music School (MSSMSh).

    Vasilisa Melnikova received the first prize, Yuna Guryanova received the third prize, and in the under 18 category, Elen Virabyan won the first prize.

    The gold medal in the senior category of the Frederic Chopin Youth Competition, which took place in March in Lugano (Switzerland), was awarded to Ivan Chepkin, a student of the Gnessin Moscow Specialized Music School.

    The bronze medal in the middle age category was won by pianist Denis Kochanowski, who performed the Polonaise (opus 40, no. 2), Nocturne (opus 15, no. 1), Waltz (opus 18), and Barcarolle (opus 60) by Frederic Chopin.

    Ivan Chepkin played two etudes (opus 10, no. 1 and opus 25, no. 6), a nocturne (opus 27, no. 2), a mazurka (opus 33), a polonaise (opus 53) and a ballade (opus 52) by Frederic Chopin on the piano.

    Winners perform in Andorra, Bulgaria, Cyprus and Russia

    From April to May, Andorra hosted the XI international saxophone competition Andorra Sax Fest, one of the most prestigious, which annually brings together the best saxophonists from all over Europe.

    In the senior group, the third-degree laureate was Vladimir Petskus, a graduate and now a teacher at the Frederic Chopin Moscow State Musical Institute for Children. Arseny Budanov, a student at the same school, received the first prize in the junior group.

    “Vladimir and Arseniy performed a very complex program, full of modern performance techniques, demonstrating the rapid development of classical saxophone playing techniques. Vladimir presented his own composition SoloS at the competition, which can be played the same way from beginning to end, and vice versa. In the final, Vladimir performed a piece by the outstanding modern saxophonist Vincent David, with the author himself acting as conductor,” noted Sergei Sobyanin.

    Arseniy Budanov participated in two age categories at once. In the junior group, he presented Eugene Bozz’s etudes (No. 7, 10), the first part of Fernanda Decruk’s Saxophone Sonata to the jury and won first place. This will allow him to perform a solo concert at the next Andorra Sax Fest competition. In the senior group, the young man also showed himself, reaching the semi-finals.

    Students of the Moscow State Children’s Art School “Kuskovo” also became laureates of the saxophone competition: Alexander Ivashkov won first place, Alexander Dolgov – third.

    In April, the 1st International Competition of Professional Harpists and Amateurs VivaHarp was held in Sofia, bringing together the best performers from all over the world. The title of second-degree laureate was awarded to Tatyana Smirnova, a student of the Moscow State Children’s Art School “Kuskovo”.

    In May in Paphos (Cyprus), Elizaveta Ryapina, a student of the A.N. Alexandrov Children’s Music School, became a second-degree laureate of the Young Orpheus International Competition and Festival.

    In December 2024, the XXV International Competition of Young Musicians “The Nutcracker” of the Russia-Culture TV channel ended. Of the nine possible awards, students from Moscow art schools won five.

    In the Wind and Percussion Instruments category, all the Nutcrackers were awarded to young Moscow musicians. The Golden Nutcracker went to 14-year-old flutist Ekaterina Ivanova from the Gnessin Moscow Specialized Music School, the Silver Nutcracker was awarded to 14-year-old clarinetist Alisa Cherednikova from the Jazz Academy, and the Bronze Nutcracker went to the youngest participant in the competition, eight-year-old Vasilisa Moiseyeva from the D.D. Shostakovich Children’s Music School.

    Second and third places went to Muscovites in the Piano category. The Silver Nutcracker was taken by 13-year-old Andrey Goncharov from the I.O. Dunaevsky Moscow City Children’s Music School, and 12-year-old Mark Grotte from the Gnessin Moscow Specialized Music School won the Bronze Nutcracker.

    “Recognition of the skills and talents of Moscow children at Russian and international competitions is a clear indication of the quality of Moscow’s creative education,” Sergei Sobyanin emphasized.

    Moscow art schools help in the harmonious development of children and give a start in life to new generations of talents.

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

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

    HTTPS: //vv.mos.ru/mayor/tkhemes/13018050/

    MIL OSI Russia News –

  • MIL-OSI Russia: Croatian President Calls on West to Resume Dialogue with Russia

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    ZAGREB, July 2 (Xinhua) — Western leaders should resume dialogue with Russia to help end the conflict in Ukraine, Croatian President Zoran Milanovic said Tuesday after talks with Slovakian President Peter Pellegrini in Zagreb.

    “There is no excuse for not having a dialogue,” Z. Milanovic noted at a joint press conference, adding that even during the Soviet era, negotiations were conducted between the West and the Soviet Union.

    “The whole architecture of trust and mistrust was created to avoid a nuclear war. This is the whole philosophy of international relations, which is very thoughtful and deep. Everything is broken today,” he said, adding that “there is an impressive generation of incompetent people who are acting in a harmful way.”

    P. Pellegrini, in turn, stated that neither of the two leaders believes that further military support will end the war in Ukraine, since it is impossible to defeat a nuclear power like Russia using military means.

    P. Pellegrini stressed that NATO and the United States must find a common language with Russia on the issue of whether they can stop hostilities and agree on a post-war settlement of the situation in Ukraine.

    He called on EU leaders, including Italian Prime Minister Giorgio Meloni and German Chancellor Friedrich Merz, to enter into talks with Moscow and find a negotiated solution.

    P. Pellegrini arrived in Croatia on Monday for an official visit. That same day, he and Z. Milanovic discussed bilateral economic cooperation, regional security and preparations for the next NATO summit. –0–

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Rosanna Law to visit France

    Source: Hong Kong Information Services

    Secretary for Culture, Sports & Tourism Rosanna Law will depart tomorrow for France, where she will visit Paris and Bordeaux with a view to enhancing collaboration between Hong Kong and France in the areas of culture and tourism.

    Miss Law will meet French government officials and representatives of the wine trade to explore opportunities for co-operation and exchange. She will also visit museums and tourist landmarks.

    The culture chief will head back to Hong Kong on July 9. During her absence, Under Secretary for Culture, Sports & Tourism Raistlin Lau will be Acting Secretary.

    MIL OSI Asia Pacific News –

  • EU to add international CO2 credits to next climate goal

    Source: Government of India

    Source: Government of India (4)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    (Reuters)

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

    Source: Gebrüder Weiss

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

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

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

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

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

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

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

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

    About Gebrüder Weiss

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

    MIL OSI – Submitted News –

  • MIL-OSI Asia-Pac: SCST to visit France

    Source: Hong Kong Government special administrative region

    The Secretary for Culture, Sports and Tourism, Miss Rosanna Law, will depart for France to visit Paris and Bordeaux in the early hours tomorrow (July 3) to enhance collaboration between Hong Kong and France in the areas of culture and tourism.
     
    During her stay in France, Miss Law will engage with French government officials and trade representatives of the wine industry to explore opportunities for co-operation and exchange. She will also visit museums and prominent tourist landmarks.
     
    Miss Law will depart for Hong Kong on July 9 (Wednesday). During her absence, the Under Secretary for Culture, Sports and Tourism, Mr Raistlin Lau, will be the Acting Secretary for Culture, Sports and Tourism.

    MIL OSI Asia Pacific News –

  • PM Modi sets off on landmark 5-nation tour, eager to engage with global leaders

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday embarked for Accra, Ghana, marking the first leg of his five-nation tour aimed at reinforcing India’s global partnerships, with a focus on strengthening bonds across the Global South and both sides of the Atlantic.

    The tour includes visits to Ghana, Trinidad &amp, Tobago, Argentina, Brazil and Namibia- nations that PM Modi described as vital partners in India’s evolving foreign policy architecture, spanning historical ties, cultural linkages, economic engagement and multilateral cooperation.

    In his departure statement, PM Modi said, “At the invitation of President John Dramani Mahama, I will visit Ghana on July 2-3. Ghana is a valued partner in the Global South and plays an important role in the African Union and the Economic Community of West African States.”

    He expressed anticipation about deepening bilateral cooperation in areas, including investment, energy, health, security, and development partnership. “As fellow democracies, it will be an honour to speak at the Parliament of Ghana,” he said.

    The Prime Minister will then travel to Trinidad &amp, Tobago from July 3-4, a country he said shares “deep-rooted historical, cultural and people-to-people connect” with India.

    “I will meet President Christine Carla Kangaloo, who was the Chief Guest at this year’s Pravasi Bharatiya Divas, and Prime Minister Kamla Persad-Bissessar, who has recently assumed office for the second term,” he noted.

    Highlighting the longstanding diaspora bond, PM Modi recalled, “Indians first arrived in Trinidad and Tobago 180 years ago. This visit will provide an opportunity to rejuvenate the special bonds of ancestry and kinship that unite us.”

    From Port of Spain, PM Modi will head to Buenos Aires, marking the first bilateral visit by an Indian Prime Minister to Argentina in 57 years.

    Calling Argentina “a key economic partner in Latin America and a close collaborator in the G20,” he said, “I look forward to my discussions with President Javier Milei, whom I also had the pleasure of meeting last year. We will focus on advancing our mutually beneficial cooperation, including in the areas of agriculture, critical minerals, energy, trade, tourism, technology, and investment.”

    Following Argentina, the Prime Minister will participate in the BRICS Summit in Rio de Janeiro on July 6-7. Emphasising India’s foundational role in the bloc, he said, “As a founding member, India is committed to BRICS as a vital platform for cooperation among emerging economies. Together, we strive for a more peaceful, equitable, just, democratic and balanced multipolar world order.”

    PM Modi also confirmed he will meet with several world leaders on the sidelines of the summit. The visit to Brazil will continue with a bilateral state visit to Brasilia, the first by an Indian Prime Minister in nearly six decades.

    “This visit will provide an opportunity to strengthen our close partnership with Brazil, and work with my friend, President Luiz Inacio Lula da Silva, on advancing the priorities of the Global South,” he said.

    The final leg of PM Modi’s tour will take him to Namibia, which he described as “a trusted partner with whom we share a common history of struggle against colonialism.” The Prime Minister said he is looking forward to meeting President Netumbo Nandi-Ndaitwah and “charting a new roadmap for cooperation for the benefit of our peoples, our regions and the wider Global South.” He will also address the Joint Session of the Namibian Parliament.

    PM Modi expressed optimism about the outcomes of his multi-nation tour, stating, “I am confident that my visits to the five countries will reinforce our bonds of friendship across the Global South, strengthen our partnerships on both sides of the Atlantic, and deepen engagements in the multilateral platforms such as BRICS, the African Union, ECOWAS and the CARICOM.” (IANS)

  • PM Modi sets off on landmark 5-nation tour, eager to engage with global leaders

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday embarked for Accra, Ghana, marking the first leg of his five-nation tour aimed at reinforcing India’s global partnerships, with a focus on strengthening bonds across the Global South and both sides of the Atlantic.

    The tour includes visits to Ghana, Trinidad &amp, Tobago, Argentina, Brazil and Namibia- nations that PM Modi described as vital partners in India’s evolving foreign policy architecture, spanning historical ties, cultural linkages, economic engagement and multilateral cooperation.

    In his departure statement, PM Modi said, “At the invitation of President John Dramani Mahama, I will visit Ghana on July 2-3. Ghana is a valued partner in the Global South and plays an important role in the African Union and the Economic Community of West African States.”

    He expressed anticipation about deepening bilateral cooperation in areas, including investment, energy, health, security, and development partnership. “As fellow democracies, it will be an honour to speak at the Parliament of Ghana,” he said.

    The Prime Minister will then travel to Trinidad &amp, Tobago from July 3-4, a country he said shares “deep-rooted historical, cultural and people-to-people connect” with India.

    “I will meet President Christine Carla Kangaloo, who was the Chief Guest at this year’s Pravasi Bharatiya Divas, and Prime Minister Kamla Persad-Bissessar, who has recently assumed office for the second term,” he noted.

    Highlighting the longstanding diaspora bond, PM Modi recalled, “Indians first arrived in Trinidad and Tobago 180 years ago. This visit will provide an opportunity to rejuvenate the special bonds of ancestry and kinship that unite us.”

    From Port of Spain, PM Modi will head to Buenos Aires, marking the first bilateral visit by an Indian Prime Minister to Argentina in 57 years.

    Calling Argentina “a key economic partner in Latin America and a close collaborator in the G20,” he said, “I look forward to my discussions with President Javier Milei, whom I also had the pleasure of meeting last year. We will focus on advancing our mutually beneficial cooperation, including in the areas of agriculture, critical minerals, energy, trade, tourism, technology, and investment.”

    Following Argentina, the Prime Minister will participate in the BRICS Summit in Rio de Janeiro on July 6-7. Emphasising India’s foundational role in the bloc, he said, “As a founding member, India is committed to BRICS as a vital platform for cooperation among emerging economies. Together, we strive for a more peaceful, equitable, just, democratic and balanced multipolar world order.”

    PM Modi also confirmed he will meet with several world leaders on the sidelines of the summit. The visit to Brazil will continue with a bilateral state visit to Brasilia, the first by an Indian Prime Minister in nearly six decades.

    “This visit will provide an opportunity to strengthen our close partnership with Brazil, and work with my friend, President Luiz Inacio Lula da Silva, on advancing the priorities of the Global South,” he said.

    The final leg of PM Modi’s tour will take him to Namibia, which he described as “a trusted partner with whom we share a common history of struggle against colonialism.” The Prime Minister said he is looking forward to meeting President Netumbo Nandi-Ndaitwah and “charting a new roadmap for cooperation for the benefit of our peoples, our regions and the wider Global South.” He will also address the Joint Session of the Namibian Parliament.

    PM Modi expressed optimism about the outcomes of his multi-nation tour, stating, “I am confident that my visits to the five countries will reinforce our bonds of friendship across the Global South, strengthen our partnerships on both sides of the Atlantic, and deepen engagements in the multilateral platforms such as BRICS, the African Union, ECOWAS and the CARICOM.” (IANS)

  • MIL-OSI Asia-Pac: LCQ13: Admission of sports professionals

    Source: Hong Kong Government special administrative region

    LCQ13: Admission of sports professionals 
    Question:
     
         It has been reported that in recent years, several international and Mainland sports stars have come to Hong Kong for development or settlement one after another through the Quality Migrant Admission Scheme (QMAS) or the Top Talent Pass Scheme (TTPS). There are views that Hong Kong possesses the advantage of attracting sports talent, and the Government should further assist sports professionals coming to Hong Kong for development, so as to promote the development of Hong Kong’s sports industry. In this connection, will the Government inform this Council:
     
    (1) of the number of overseas and Mainland sports professionals who have applied over the past five years for coming to Hong Kong for development through QMAS and TTPS respectively, and among them, the number of applications approved, together with a breakdown by the sports disciplines in which the professionals are involved; whether it has compiled statistics on the employment status of professionals in Hong Kong in the approved cases;
     
    (2) when sports professionals have come to Hong Kong through QMAS or TTPS, how the Hong Kong Talent Engage will follow up on their development and needs in Hong Kong (including support services and development strategies (if any) provided to such professionals);
     
    (3) as it has been reported that several world-renowned billiard players have become Hong Kong residents one after another through QMAS over the past year, whether the authorities will consider launching further initiatives to assist these billiard players in promoting billiards or developing their careers in billiards in Hong Kong, such as opening billiard saloons or training programs, so as to help Hong Kong become an “international billiard hub”; and
     
    (4) whether it will consider optimising QMAS or TTPS, or providing incentives (such as providing tax concessions to international sports stars or sports professionals coming to Hong Kong on a short-term or long-term basis), so as to attract more international sports talent to come to Hong Kong for development?

    Reply:
     
    President,
     
         To build Hong Kong into an international hub for high-calibre talent, the Government has been implementing various talent admission schemes with different positioning to proactively trawl for talent with diversified backgrounds to come to Hong Kong to build a quality talent pool for meeting Hong Kong’s development needs.
     
         Among them, the Achievement-based Points Test (APT) under the Quality Migrant Admission Scheme (QMAS) aims to attract individuals with exceptional talents or skills, as well as outstanding achievements, to come to Hong Kong for settlement. To be eligible for APT, the applicant must have received an award of exceptional achievement (e.g. Olympic medal, Nobel prize, national/international award) or can show that his/her work has been acknowledged by his/her peers or have contributed significantly to the development of his/her field (e.g. lifetime achievement award from industry). Successful applicants will normally be granted a stay of eight years upon first entry. In the past, the majority of international and Mainland sports celebrities who had won awards in major sports events and had come to Hong Kong for development were admitted through the above channel.
     
         Our reply to the Member’s questions, in consultation with the Culture, Sports and Tourism Bureau and the Immigration Department (ImmD), is as follows:
     
    (1) In the past five years (from 2020 to 2024), among the approved cases that have successfully passed the selection exercise under the QMAS, a total of 42 retired or serving athletes have been approved to come to Hong Kong under the APT, including Olympic medalists, Asian Games medalists, and winners of other international sports events.
     
         As the Top Talent Pass Scheme (TTPS) aims to attract individuals with high income or full-time bachelor’s degree from top universities/institutions around the world, the ImmD does not have the number of applications from retired/serving athletes.
     
         Persons admitted to Hong Kong under the QMAS or the TTPS are not required to have secured offers of employment before coming to Hong Kong. During the validity period of the first visa, the talent are not required to inform the ImmD when they are employed or have established/joined in business in Hong Kong. When applying for extension of stay, successful applicants under the TTPS are required to provide the ImmD with concrete supporting information and documents to prove that they have been employed or have established/joined in business in Hong Kong so that an extension of stay can be granted. The ImmD does not maintain statistics on the employment situation of successful applicants under the above two schemes when they first arrived in Hong Kong, as well as other statistical breakdowns mentioned in the question.
     
    (2) Since its establishment on October 30, 2023, Hong Kong Talent Engage (HKTE) has been providing comprehensive one-stop support to talent coming to / staying in Hong Kong under the various talent admission schemes (including the TTPS and the QMAS) through both online and offline means. Apart from providing comprehensive information on living and working in Hong Kong as well as handling enquiries from outside talent through its online platform (www.hkengage.gov.hk 
         Earlier on, many internationally renowned sports professionals (such as Judd Trump, the world’s number one snooker player, and Stephon Marbury, former National Basketball Association (NBA) player) have settled in Hong Kong. HKTE has invited them to participate in promotional activities to give first-hand sharing of their reasons for coming to Hong Kong, thereby promoting Hong Kong’s unique strengths and development opportunities to attract more global talent with diverse backgrounds to pursue development in Hong Kong.
     
    (3) Several internationally renowned snooker players have settled in Hong Kong, drawing public attention and interest for the sport. The Government will actively promote the development of local billiard sports, maintain connections with top snooker players pursuing development in Hong Kong, and provide appropriate support when needed to foster the development of billiard sports in Hong Kong together.
     
         The Government is committed to sports development through the five policy objectives of promoting sports in the community, supporting elite sports, maintaining Hong Kong as a centre for major international sports events, enhancing professionalism, and developing sports as an industry. For the promotion of community sports, the Government organises various types of recreation and sports activities and encourages public participation to cultivate a strong sporting culture in the community, helping them develop a healthy lifestyle.
     
         The Government will continue to devote resources to expand the audience base of sports enthusiasts (including snooker fans) and support the organisation of major sports events through the “M” Mark System. The Major Sports Events Committee awarded the “M” Mark status to the World Snooker Grand Prix 2025 in March this year. It was the first time for the event to be held outside the United Kingdom. In addition to promoting the development of billiard sports in Hong Kong, the event also underlines Hong Kong’s status as the centre for major international sports events.Issued at HKT 11:22

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI China: ‘Jurassic World Rebirth’ cast roars into China for Shanghai premiere

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

    “Jurassic World Rebirth,” the latest installment in the dinosaur blockbuster franchise, is set to charge into Chinese theaters on July 2, with the director and cast generating excitement among fans at the film’s Shanghai premiere on June 29.

    (From left to right) Actors Rupert Friend, Scarlett Johansson and Jonathan Bailey stand with director Gareth Edwards as they wave to fans at the China premiere of “Jurassic World Rebirth” in Shanghai, June 29, 2025. [Photo courtesy of Universal Pictures]

    Three years after the “Jurassic World” trilogy ended, the “Jurassic” series takes an inventive turn with a new film directed by Gareth Edwards from a script by original “Jurassic Park” (1993) screenwriter David Koepp and starring Scarlett Johansson, Jonathan Bailey and Mahershala Ali.

    The story follows an extraction team that ventures to a dangerous island research facility from “Jurassic Park,” now inhabited by deadly dinosaurs. Their mission involves collecting DNA samples from three colossal prehistoric species on land, sea and air for a medical breakthrough.

    Director Edwards called making the film “a dream come true” at the premiere event packed with screaming fans. He appeared alongside Johansson, Bailey and Rupert Friend during the film’s China promotional tour. 

    “I think it is every director’s dream and also every director’s nightmare,” he said.

    Edwards grew up studying Steven Spielberg’s films in England, with “Jurassic Park” among the first movies he saw as a child. He said the film has inspired him ever since, though he believes no one can surpass Spielberg’s original work and never expected to do so. Edwards said he hopes “Jurassic World Rebirth” will feel like a forgotten sequel from the 1990s, capturing the original’s style.

    A still from “Jurassic World Rebirth.” [Photo courtesy of Universal Pictures]

    Spielberg has remained closely involved with the franchise, having directed the original “Jurassic Park” and its sequel, “The Lost World: Jurassic Park,” and serving as executive producer on every subsequent film, including “Jurassic World Rebirth.” Since 1993, the franchise based on Michael Crichton’s novel has created a cinematic world of reborn dinosaurs and heroes, reinvented the blockbuster film, revolutionized special effects and launched two trilogies that have grossed over $6 billion worldwide, including 4.61 billion yuan ($644 million) from China.

    “We had Steven Spielberg guiding this whole film,” Edwards revealed. “He was watching everything we were filming every day, and as a filmmaker, that’s very nerve-racking. Sometimes we’d get a nice text, and I’d share it with the group when he said he loved what he’d seen, and that’s awesome.”

    Johansson said participating in “Jurassic World Rebirth” fulfilled “a childhood dream of mine.” She recalled that one of her earliest theater memories was watching “Jurassic Park” and that she had followed the franchise for 15 years, reaching out each time a new film was announced, though previous attempts had not worked out. The action superstar added that she told Spielberg she would accept any role in the “Jurassic” franchise — even playing what she called a “dinosnack” who gets eaten five minutes in.

    Standing alongside her colleagues, actor Scarlett Johansson speaks on stage at the China premiere of “Jurassic World Rebirth” in Shanghai, June 29, 2025. [Photo courtesy of Universal Pictures]

    But this time, Johansson landed something far more substantial. Cast as Zora Bennett, she plays a covert operations expert contracted to lead a team on a top-secret mission to secure genetic material. She and her team uncover a sinister discovery hidden for decades on the dinosaur island.

    To bring the story to life, the cast and crew went far beyond green screens, filming in natural locations across the U.K., Malta and Thailand. Along the way, they encountered wild animals from snakes and monkeys to poisonous insects.

    A still from “Jurassic World Rebirth.” [Photo courtesy of Universal Pictures]

    The director recalled going to a mangrove swamp in Thailand. Although everyone assured him it was safe, the crew still hired a snake wrangler just in case. Sure enough, the wrangler emerged with a giant yellow-and-black poisonous snake. “I said everybody has to make a promise right now that we’re not going to tell Scarlett Johansson until the film is finished,” Edwards said.

    Hearing this for the first time on stage, Johansson turned to the director and deadpanned, “I trusted you, Gareth, and I no longer trust you.”

    “The adventure of a lifetime!” Friend exclaimed.

    MIL OSI China News –

  • MIL-OSI China: Eurozone inflation rate reaches 2% in June

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

    Photo taken on July 7, 2022 shows the headquarter of the European Central Bank in Frankfurt, Germany. [Photo/Xinhua]

    The annual inflation rate in the Eurozone is expected to reach 2 percent for June, up from 1.9 percent in May, according to a flash estimate published Tuesday by Eurostat.

    The inflation is driven by the price of services, which recorded a yearly inflation rate of 3.3 percent in June, up from 3.2 percent the previous month.

    The prices of food, alcohol, and tobacco registered a 3.1 percent year-on-year inflation rate in June, down from 3.2 percent in May.

    Inflation for non-energy industrial goods declined from 0.6 percent in May to 0.5 percent in June. A negative inflation rate of -2.7 percent was recorded for energy prices, an increase from -3.6 percent in May.

    Core inflation, which excludes energy, food, tobacco and alcohol prices, was unchanged at 2.3 percent in June.

    Among the main economies of the Eurozone, Germany recorded an inflation rate of 2 percent, down from 2.1 percent in May. France recorded an inflation rate of 0.8 percent, up from 0.6 percent in May, and Spain’s inflation rate stands at 2.2 percent, up from 2 percent in May.

    The highest inflation rate was recorded in Estonia at 5.2 percent, up from 4.6 percent the previous month, while Cyprus registered the lowest inflation rate for June at 0.5 percent, up from 0.4 percent in May.

    “Inflationary pressures have clearly weakened as wage growth is coming down and economic performance remains sluggish, keeping the door open to another rate cut in autumn,” said Bert Colijn, Chief Economist for the Netherlands at ING.

    According to Colijn, risks such as oil price spikes and the outcome of tariff negotiations between the EU and the U.S. remain.

    The European Central Bank (ECB) last month announced an eighth rate cut, bringing the policy interest rate to the lowest level since December 2022. According to the ECB statement, most measures of underlying inflation suggest that inflation will settle at around the 2 percent medium-term target on a sustained basis. However, the ECB has not yet dropped its guard, insisting that it is determined to ensure inflation stabilizes sustainably at its medium-term target.

    Market expectations for interest rate cuts were unchanged after the June inflation figures were published. 

    MIL OSI China News –

  • MIL-Evening Report: More than meds: why easier access to ADHD treatment has to be part of a whole-system approach

    Source: The Conversation (Au and NZ) – By Belinda Wheaton, Professor, School of Psychological and Social Sciences, University of Waikato

    Thom Leach/Getty Images

    New Zealanders with attention-deficit hyperactivity disorder (ADHD) will now have easier access to diagnosis and medication after the government changed prescribing rules.

    But there is still so much we don’t know about ADHD in Aotearoa. And while these changes will help many, easier access to medication alone won’t fill the gaps in other supports people with ADHD need to live well.

    From February 2026 trained GPS and nurse practitioners will be able to diagnose and treat ADHD. Under the current system, only paediatricians or psychiatrists can make the diagnosis. GPs and nurse practitioners then provide followup care.

    The current process – which is both time-consuming and expensive – has been widely criticised. The government’s changes are expected to at least partially address these issues.

    ADHD in New Zealand

    One major barrier to progress is the general lack of knowledge about adult ADHD.

    he condition is broadly understood as causing persistent patterns of inattention, hyperactivity and impulsivity. In adults, ADHD can have a profound impact in family and work situations, substance abuse and a wide range of psychiatric disorders. But it has largely been ignored in older age groups, with some believing people “grow out” of the condition.

    People with ADHD also often possess strengths, including creativity, spontaneity, high energy, risk tolerance and an ability to think divergently. Many also demonstrate strong problem-solving skills under pressure, passion-driven focus and persistence when engaged in meaningful tasks.

    Worldwide estimates suggest ADHD in adults ranges from 2.5% to 3.4% of most populations. But England’s 2023 Adult Psychiatric Morbidity Survey found 13.9% of adults met criteria warranting clinical assessment. Only 0.5% had been professionally diagnosed.

    In New Zealand, estimates rely on indirect measures such as medication dispensing rates.

    Recent research found 0.6% of the adult population in New Zealand was receiving drug treatment for ADHD. Based on a conservative estimate of 2.6% of adults with ADHD, this shows a large “treatment gap” exists.

    Drug dispensing data in New Zealand also show gaps in who gets diagnosed with ADHD.

    Māori and Pacific peoples are less likely to receive ADHD medications. These inequities begin early. Tamariki Māori screened for ADHD at age four are less likely to receive medication than their non-Māori peers.

    There are also substantial differences in the age of diagnosis across sociodemographic groups. These inequities raise serious concerns about access and systemic bias.

    International research shows untreated ADHD is linked to worse mental and physical health, higher mortality, and reduced life expectancy.

    ADHD prevalence is also five times higher among youth prisoners and ten times higher among adult prisoners compared to the general population. In Australia, ADHD’s social and economic costs are estimated at A$20.42 billion per year, or $25,071 per person.

    Waiting too long for help

    Our ongoing research, including a survey, looks at the lived experiences of adults with diagnosed or suspected ADHD in New Zealand. Many have described the healthcare system as “broken”.

    Survey respondents reported long wait times, high costs for diagnosis and treatment and a lack of expertise amongst health professionals. They also described ongoing stigma and misunderstanding about the lived reality of ADHD.

    The survey mirrors international research showing how longstanding myths and stigmas about what ADHD is and who it affects have impeded societal understanding.

    Adult women were overrepresented in the sample, constituting 83% of the 689 participants, with over 80% reporting being diagnosed after age 24, reflecting global trends of underdiagnosis in early age among women.

    Research suggests ADHD in women is often missed or misdiagnosed, partly due to outdated knowledge and lack of understanding about its presentation in women, compounded by high rates of coexisting conditions such as anxiety, depression, substance use and autism.

    Treatment matters

    Growing evidence shows many of the negative outcomes of ADHD are mitigated by treatment with medication. One study from Sweden found a significant association between initiating ADHD medication treatment and lower mortality.

    However, medication is only part of the solution. Strategies focused on the strengths of people with ADHD can have huge benefits for the individual, their whānau and communities. Particularly when they receive timely diagnosis, treatment and necessary accommodations.

    Researchers argue that while ADHD medications provide effective treatment, they should never be the only form of treatment offered.

    More than meds

    Expanding prescribing authority is a vital step, but this alone will do little to increase access to psychological and allied health supports to ensure the right care can be provided to people with ADHD.

    There continues to be an urgent need to address gaps in data and understanding, to provide an evidence-based assessment of the areas where research, funding and policy initiatives need to be targeted.

    Trends show that some groups, including Māori and women, are disproportionately affected by a lack of knowledge and services. As the government revises how ADHD is diagnosed and treated, it must address these discrepancies.

    There is also a complex but poorly understood relationship between ADHD and other neurodevelopmental conditions, such as autism, that needs further investigation. As ADHD New Zealand chairperson Darrin Bull has argued, a “whole-of-system” approach is required to support those with ADHD in New Zealand.

    Belinda Wheaton is collaborating with ADHD NZ on research to improve understanding of ADHD in NZ,

    Byron Rangiwai has received funding from Health Research Council. Byron is currently receiving funding from Apple Computers until October 2025.

    Nicholas Bowden has received funding for ADHD-related research through MBIE’s A Better Start National Science Challenge.

    Stephanie D’Souza has received funding for ADHD-related research through MBIE’s A Better Start National Science Challenge.

    – ref. More than meds: why easier access to ADHD treatment has to be part of a whole-system approach – https://theconversation.com/more-than-meds-why-easier-access-to-adhd-treatment-has-to-be-part-of-a-whole-system-approach-259981

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Consumption push promises summer tourism boom

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

    A high-speed train arrives at the Qianjiang Railway Station on the Chongqing section of the Chongqing-Xiamen high-speed railway, in Southwest China’s Chongqing, June 27, 2025. [Photo/Xinhua]

    Fueled by rising consumption and attractive packages offered by tourism authorities, this summer promises to be a bumper season for tourism, industry insiders said on Tuesday.

    According to the Ministry of Transport, the number of railway passenger trips between July 1 and Aug 31, the duration of the summer vacation for students, is expected to reach 953 million, which will mark a year-on-year increase of 5.8 percent.

    Qi Chunguang, vice-president of travel portal Tuniu, said the summer travel peak is expected much earlier this year. “In fact, our figures suggest it already started on June 28, instead of the usual second week of July,” he said.

    Group tour bookings on Tuniu have increased by more than 35 percent, Qi said. “The majority of them are long-duration domestic trips. Bookings for overseas destinations have surged 60 percent year-on-year,” he added.

    The growth has been spurred by the government’s consumption policy, coupons issued by local tourism bureaus and discount tickets for high school graduates, Qi noted.

    On Monday, the Ministry of Culture and Tourism launched a summer consumption program, which will promote around 39,000 activities, including drama appreciations, exhibitions and night tours, in July and August.

    To further invigorate the tourism market, the government will also give consumption subsidies of over 570 million yuan ($80 million) to the public in the form of coupons and discounted combined packages.

    Qi, from Tuniu, said that high school graduates, college students and families with children are major drivers of summer tourism consumption. A recent report by Tuniu mentioned that families with children account for over 40 percent of the current bookings made on the platform.

    According to travel portal Qunar, most Chinese travelers are looking for destinations with a temperate climate, so places with daytime temperatures lower than 25 C are recording a surge in bookings.

    The Bortala Mongolian autonomous prefecture in the Xinjiang Uygur autonomous region, Zhaotong and Chuxiong in Yunnan province and Ordos in the Inner Mongolia autonomous region are among the most popular domestic destinations to beat the heat, the travel portal said.

    Beijing, Shanghai, the Ili Kazak autonomous prefecture in Xinjiang, Qingdao in Shandong province and Chengdu in Sichuan province are also attracting bookings because of their strong cultural vibes, modern cityscapes and mouthwatering food, the portal added.

    Yue Meng, 48, a Beijing resident, said her daughter took the college entrance exam in June and the family planned a trip to Xinjiang to congratulate her.

    “We will spend a week in Xinjiang starting on July 15, and visit attractions such as Sayram Lake and Nalati scenic area,” Yue said, adding that her daughter is scheduled to join an educational tour group to Singapore in August.

    In addition to domestic tourism, outbound travel has also logged robust growth.

    According to travel agency Trip.com Group, visa applications on the platform have recorded double-digit growth.

    Overseas destinations with shorter flight durations, such as Japan and South Korea, remain top choices for Chinese travelers this summer, while some faraway countries in Europe have also seen remarkable growth in bookings, the agency said.

    Visa applications processed by Trip.com for Italy, Norway and Germany have increased by over 80 percent, it added.

    MIL OSI China News –

  • MIL-OSI China: Zverev, Gauff among record Wimbledon seeds exodus

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

    Five top-10 seeds, including China’s Olympic champion Zheng Qinwen, crashed out of the first round at Wimbledon on Tuesday in a day of upsets and soaring temperatures.

    Zheng, the No. 5 seed in the women’s singles draw, suffered her third consecutive first-round exit at the grass-court Grand Slam, falling to Czech doubles specialist Katerina Siniakova 7-5, 4-6, 6-1. The match was played as London endured its hottest day of the year, with temperatures surpassing 33 degrees Celsius.

    “I should have done better in my service games,” said Zheng, who was broken twice after leading 5-3 in the opening set. “I don’t think the surface is a challenge for me. I just felt that I should raise my level in my service games today.”

    Siniakova, 29, a 10-time women’s doubles Grand Slam champion, will face four-time major winner Naomi Osaka in the second round.

    Carlos Alcaraz hits a return during the men’s singles first round match between Carlos Alcaraz of Spain and Fabio Fognini of Italy at Wimbledon Tennis Championship in London, Britain, June 30, 2025. (Xinhua/Zhao Dingzhe) (Xinhua/Zhao Dingzhe)

    Second-seeded Coco Gauff and third-seeded Jessica Pegula were also knocked out of the women’s singles on a day filled with surprises.

    Gauff, the reigning US Open champion who won last month’s French Open, was beaten 7-6 (3), 6-1 by Ukraine’s Dayana Yastremska.

    “I’m obviously disappointed how the result went today,” said Gauff, 21. “Dayana started off playing strong. I think I couldn’t find my footing out there today.”

    Gauff, a three-time fourth-round finisher at Wimbledon, added: “I really do want to do well here. I’m not someone who wants to write myself off grass this early in my career, but I definitely need to make changes if I want to be successful here.”

    Pegula, meanwhile, was stunned by Italy’s Elisabetta Cocciaretto 6-2, 6-3 in just 58 minutes.

    In the men’s draw, No. 3 seed Alexander Zverev of Germany fell 7-6 (3), 6-7 (8), 6-3, 6-7 (5), 6-4 to France’s Arthur Rinderknech.

    Rinderknech, 29, called it the biggest win of his career. “When it’s on Center Court of Wimbledon against a guy like Sascha, who is No. 3 in the world and has been there for the last probably ten years, such a consistent player, and in five sets, I can’t really ask for more,” he said.

    Seventh-seeded Lorenzo Musetti of Italy also suffered a shock defeat, losing to Georgian qualifier Nikoloz Basilashvili 6-2, 4-6, 7-5, 6-1. However, Musetti’s compatriot and world No. 1 Jannik Sinner advanced with ease, defeating fellow Italian Luca Nardi 6-4, 6-2, 6-0.

    In the final match on Center Court, 24-time Grand Slam champion Novak Djokovic overcame a mid-match illness to defeat France’s Alexandre Muller 6-1, 6-7 (7), 6-2, 6-2.

    The 38-year-old Serbian revealed he had been struggling with a stomach upset during the match. “The energy kicked back in after some doctor’s miracle pills and I managed to finish the match on a good note,” Djokovic said.

    Monday’s opening day also saw early exits for No. 8 seed Holger Rune of Denmark and No. 9 seed Daniil Medvedev of Russia, both of whom were eliminated in the first round.

    MIL OSI China News –