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  • An ode to the fourth-largest economy of the world

    Source: Government of India

    Source: Government of India (4)

    In May 2025, India stands as the fourth-largest economy in the world, surpassing Japan and trailing only the United States of America, China, and Germany.

    With a Gross Domestic Product of over four trillion dollars, the economic might of the nation is now evident to the world. In the last decade, India’s GDP has more than doubled. To put things in perspective, it took India more than 65 years to reach its first two trillion dollars, and only eleven years to add the next two.

    The economic upliftment of rural India has been integral to this leap. For decades, the countryside was plagued by issues of food, shelter, and clothing. However, in the last eleven years, these challenges have been addressed through precise and people-centric policymaking.

    While an array of welfare programmes tells a compelling story, the simplest policy moves have been most effective. For instance, the Pradhan Mantri Garib Kalyan Anna Yojana has ensured an additional quota of foodgrains for more than 80 crore people. Before the Narendra Modi government took office, surplus foodgrains in government coffers were under contention, yet the previous government was unwilling to distribute them to those in need.

    Beyond welfare, this has had a significant economic impact. People in villages now have more disposable income, which they are using to buy consumer durables, processed foods, and foods with higher nutritional value. Aspirations are changing, and the success of the Mudra Yojana is a testament to this shift. No longer a liability, rural India is now an asset for a rising nation.

    Urban pockets are evolving as well. With every trillion dollars added to the economy, consumer demand is transforming. Earlier this month, Lego, one of the world’s largest toymakers, opened its first store in India in Gurugram, Haryana. Apple, the world’s leading technology company, is now embedded in urban markets, increasing its manufacturing volume and value within India.

    But India’s manufacturing story is not just about Apple; it encompasses millions of young and old entrepreneurs shifting to local production, moving beyond the role of traders. Near the Haryana border, in Delhi’s North-West district, lies Bawana, an example of this significant shift. The Prime Minister’s larger message of ‘Make in India, Make for India, and Make for the World’ has resonated with entrepreneurs here, who are leading the change.

    The greatest supplement to India’s growth over the last decade has been infrastructure. Prime Minister Narendra Modi has shown an unprecedented commitment to infrastructure development, rivaling Franklin D. Roosevelt in the 1930s.

    India’s infrastructure push over the last decade has been the most ambitious in any democracy in the past century. A simple litmus test is that every individual within a 50-kilometer radius can vouch for redevelopment and numerous greenfield infrastructure projects.

    These projects are empowering people in every state, enabling access to greater economic and employment opportunities. Projects like the Dedicated Freight Corridors, dormant under the previous government, are now instrumental in reducing export costs and enhancing the ease of doing business.

    In the northeastern part of the country, projects are opening new avenues for tourism and the regional economy. In the Himalayas, strategic infrastructure initiatives, from Arunachal Pradesh to Ladakh, are strengthening military capabilities.

    The government’s intent toward infrastructure is validated by its annual capital expenditure commitment. In recent years, the Centre has committed over Rs. 50 lakh crore to infrastructure development. This also serves as evidence of the government’s fiscal management, which has navigated the pandemic, the global supply chain crisis, and the Russia-Ukraine war. The focus has been on creating long-term assets to fuel economic growth.

    The dual impact of welfare and infrastructure is fostering a generation of job creators. These are citizens, born in the late 1980s, 1990s, and early 2000s, who are not seeking employment but creating it.

    This new generation is further empowered by the digitisation of the economy and the pan-India market it has opened. These include digital creators as well. Employing anywhere from two to two hundred professionals, these entrepreneurs are transforming the dynamics of the Indian job market.

    This is what makes India the largest free market in the world. Beyond geopolitical dynamics, the economic might of India’s market size cannot be underestimated. India’s market access alone can cripple foreign powers, as seen in 2020 when the government banned TikTok and in 2025 when it sent a stern message to Pakistan through Operation Sindoor. The world needs India more than India needs the world. That is the power of 140 crore people.

    India’s rise to the third-largest economy is certain and will occur before 2029. Then begins a long journey toward becoming one of the world’s most important economic centres, driven by its market and demography. If the last decade was about cementing the size of the economy, the next will witness sharp and steep progress in microeconomic fundamentals, from per capita income to changing expenditure dynamics.

    From being among the ‘Fragile Five’ in 2013, India has come a long way by 2025, ranking among the top five. The comeback has been remarkable, and the country retains the momentum to surge further ahead. In 2015, it was the story of an economy struggling to find its footing. In 2025, it is about an economy ready to rise like an albatross, and by 2035, the story will be of a ten-trillion-dollar economy, reclaiming its civilisational position in a brave new world.

    (Tushar Gupta is a Delhi-based journalist and a political commentator)

  • MIL-OSI China: Chinese director Bi Gan wins Special Prize at Cannes

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

    Chinese director Bi Gan won the Special Prize on May 25 at the 78th Cannes Film Festival for his epic fiction feature “Resurrection.”

    Director Bi Gan (center) poses with cast members of “Resurrection” on the red carpet at the film’s premiere during the 78th Cannes Film Festival in Cannes, France, May 22, 2025. [Photo courtesy of Lima Media]

    Visionary auteur Bi’s “Resurrection” premiered on Thursday at Cannes to a 10-minute standing ovation and widespread critical acclaim. The art house sensation, starring Yi Yangqianxi, Shu Qi, Mark Chao and Li Gengxi, represents the sole Chinese-language contender in the main competition.

    In his acceptance speech, Bi expressed gratitude to the festival, jurors and all those who contributed to his film’s creation on behalf of the cast and crew. 

    The film has not yet set a release date, but it has sold widely following its world premiere, with companies from Italy, Germany, Spain, Greece, Switzerland, South Korea and others acquiring distribution rights.

    “Resurrection” unfolds through labyrinthine-like six sensory chapters of “visual,” “auditory,” “gustatory,” “olfactory,” “tactile” and “consciousness,” mirroring the Buddhist philosophy of the six senses. Set in a world where humanity has lost the ability to dream, one creature remains entranced by fading illusions — until a woman with the rare gift of perception appears, and she ventures into the monster’s dreams to uncover their hidden truth. The director uses this two-hour-and-forty-minute film to showcase his love for cinema, while framing a century-spanning fever dream through sensory and mental dimensions.

    On May 23, Bi Gan and the creative team took part in a Cannes press conference to discuss the film’s creative process. When addressing his signature long takes, Bi called them his “most familiar technique,” while Yi Yangqianxi revealed their pivotal sequence took 15 consecutive days of midnight-to-sunrise filming, completed with “ideal weather conditions.” Bi elaborated on the leads: “Yi’s character Fantasmer drifts frenziedly through time and space, while Shu Qi’s embodies absolute rationality — yet becomes mesmerized by his character.”

    Within the film’s setting, Yi portrays five distinct roles across the chapters — marking his first multi-character performance. He meticulously crafted their unique voices, postures and movements to embody the director’s vision, creating instantly recognizable traits for these multiple identities.

    Renowned Chinese sci-fi writer Chen Qiufan, who served as script consultant for “Resurrection,” described the film as “sci-fi poetry cinema” at a Cannes event on May 19 and revealed his frequent discussions with the director about consciousness.

    The film is Bi Gan’s first feature since the 2018 festival sensation “Long Day’s Journey into Night,” a groundbreaking 3D experiment. Festival organizers described his work as a showcase of his evolving creativity that maintains the sensory and poetic qualities defining his style. They also noted that at just 35 years old, he has established himself as a major force in shaping China’s new generation of art house cinema since his directorial debut “Kaili Blues” a decade ago.

    At the post-closing ceremony press conference on May 25, jury president Juliette Binoche revealed the jury unanimously created this special award for Bi because of the film’s singular creativity, stating, “‘Resurrection’ is like a UFO — an amazing invention.”

    Binoche also remarked on the film’s uniqueness. “Visually, it really moved me. I found it extraordinary. This film allows for dreams, subtexts that we feel and that are real. It’s full of poetry and allows us to feel something within ourselves,” she said.

    Bi added, explaining his inspiration: “There should be a film about the cinema that can comfort people in this world full of changes.”

    This year’s Cannes Film Festival featured 22 films competing for its top honor — the Palme d’Or. The competition section awards were announced at the festival’s closing ceremony. The Palme d’Or went to Iranian director Jafar Panahi’s “Un Simple Accident.” Joachim Trier’s “Sentimental Value” received the Grand Prix, while the Jury Prize was shared by Oliver Laxe’s “Sirat” and Mascha Schilinski’s “Sound of Falling.” The night’s big winner was Brazil’s “The Secret Agent,” earning best director for Kleber Mendonça Filho and best actor for Wagner Moura. Best actress went to Nadia Melliti for “The Little Sister,” and Belgium’s Dardenne brothers claimed best screenplay for “Young Mothers.”

    MIL OSI China News –

  • MIL-OSI Europe: EIB awards design services contract for West Campus Programme

    Source: European Investment Bank

    The European Investment Bank (EIB) has awarded the contract for design services for its West Campus Programme to a leading multi-national consortium, after a competitive tender process initiated in 2024.

    The selected consortium comprises Assar Universum Architects (Luxembourg), Assar BE Architects (Belgium), Schmidt Hammer Lassen Architects (Denmark), Paul Wurth Geprolux (Luxembourg), Tractebel Engineering (Belgium), Topotek 1 (Germany), and Papaya Urbanistes et Architectes Paysagistes (Luxembourg). Collectively, these firms bring extensive expertise in large-scale building design and renovation, with a particular focus on projects in Luxembourg.

    Under the signed Framework Agreement, the consortium will provide design services for an initial period of eight years, with the possibility of extension for up to three additional years. The agreement is valued at up to EUR 33 million.

    This milestone marks a significant step forward in the EIB West Campus Programme, which aims to renovate and extend the West Building (WKI) while preserving its historic façade. The consortium will be initially responsible for developing the preliminary design, for submission to the EIB’s governing bodies in early 2026.

    Commitment to Sustainability and Inclusion

    Aligned with the EIB’s commitment to sustainability and innovation, the West Campus Programme is designed to create a modern, comfortable, and inclusive work environment for staff and visitors. The project will prioritise climate action, energy efficiency, and circularity, in line with the EIB’s role as the EU Climate Bank. It will also reflect the principles of the New European Bauhaus, integrating sustainability, social inclusion, and aesthetics to deliver a beautiful and future-ready campus.

    MIL OSI Europe News –

  • MIL-Evening Report: Activists call for Pacific nuclear justice, global unity and victim support

    By Te Aniwaniwa Paterson of Te Ao Māori News

    Eighty years after the United States dropped atomic bombs on Hiroshima and Nagasaki to end the Second World War, the threat of nuclear fallout remains.

    Last Monday, the UN Human Rights Council issued a formal communication to the Japanese government regarding serious concerns raised by Pacific communities about the dumping of 1.3 million metric tonnes of treated Fukushima nuclear wastewater into the ocean over 30 years.

    The council warned that the release could pose major environmental and human rights risks.

    A protest against the release of Fukushima treated radioactive water in Tokyo, Japan, in mid-May 2023. Image: TAM News/Getty.

    Te Ao Māori News spoke with Mari Inoue, a NYC-based lawyer originally from Japan and co-founder of the volunteer-led group The Manhattan Project for a Nuclear-Free World.

    Recently, at the UN, they called for global awareness, not only about atomic bomb victims but also of the Fukushima wastewater release, and nuclear energy’s links to environmental destruction and human rights abuses.

    Formed a year after the Fukushima nuclear disaster, the group takes its name from the original Manhattan Project — the secret Second World War  US military programme that raced to develop the first atomic bomb before Nazi Germany.

    A pivotal moment in that project was the Trinity Test on July 16, 1945, in New Mexico — the first successful detonation of an atomic bomb. One month later, nuclear weapons were dropped on Hiroshima and Nagasaki, killing an estimated 110,000 to 210,000 people.

    Seeking recognition and justice
    Although 80 years have passed, victims of these events continue to seek recognition and justice. The disarmament group hopes for stronger global unity around the Non-Proliferation Treaty, and more support for victims of nuclear exposure.

    Mari Inoue attended the UN as a representative of the Manhattan Project for a Nuclear-Free World as an interpreter for an atomic bomb survivor. Image: TAM News/UN WebTV.

    The anti-nuclear activists supported the Non-Proliferation Treaty (NPT), which seeks to prevent the spread of nuclear weapons. Their advocacy took place during the third and final preparatory committee for the 2026 NPT review conference, where a consensus report with recommendations from past sessions will be presented.

    Inoue’s group called on the International Atomic Energy Agency (IAEA) to declare Japan’s dumping policy unsafe, and believes Japan and its G7 and EU allies should be condemned for supporting it.

    Hanford Site is a decommissioned nuclear production complex established in 1943 as part of the Manhattan Project . . . The contaminated site once belonged to several Native American tribes. Image: TAM News/Jeff T. Green/Getty

    Nuclear energy for the green transition?
     Amid calls to move away from fossil fuels, some argue that nuclear power could supply the zero-emission energy needed to combat climate change.

    Inoue rejects this, saying that despite not emitting greenhouse gases like fossil fuels, nuclear energy still harms the environment.

    She said there was environmental harm at all processes in the nuclear supply chain.

    Beginning with uranium mining, predominantly contaminating indigenous lands and water sources, with studies showing those communities face increased cancer rates, sickness, and infant mortality. And other studies have shown increased health issues for residents near nuclear reactors.

    Protests at TEPCO, Tokyo Electric Power Company, in Tokyo in August 2023. Image: bDavid Mareuil/Anadolu Agency

    “Nuclear energy is not peaceful and it‘s not a solution to the climate crisis,” Inoue stressed. “Nuclear energy cannot function without exploiting peoples, their lands, and their resources.”

    She also pointed out thermal pollution, where water heated during the nuclear plant cooling process is discharged into waterways, contributing to rising ocean temperatures.

    Inoue added, “During the regular operation, [nuclear power plants] release radioactive isotopes into the environment — for example tritium.”

    She referenced nuclear expert Dr Arjun Makhijani, who has studied the dangers of tritium in how it crosses the placenta, impacting embryos and foetuses with risks of birth defects, miscarriages, and other problems.

    Increased tensions and world forum uniting global voices
     When asked about the AUKUS security pact, Inoue expressed concern that it would worsen tensions in the Pacific. She criticised the use of a loophole that allowed nuclear-powered submarines in a nuclear-weapon-free zone, even though the nuclear fuel could still be repurposed for weapons.

    In October, Inoue will co-organise the World Nuclear Victims Forum in Hiroshima, with 2024 Nobel Peace Prize winner Nihon Hidankyo as one of the promoting organisations.

    The forum will feature people from Indigenous communities impacted by nuclear testing in the US and the Marshall Islands, uranium mining in Africa, and fisheries affected by nuclear pollution.

    Republished from Te Ao Māori News with permission.

    MIL OSI Analysis – EveningReport.nz –

  • India now exports trains to the world: PM Modi in Dahod

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Monday emphasized the transformative growth of India’s railway sector over the past decade, underscoring the expansion of metro services and the introduction of semi-high-speed trains like the Vande Bharat Express.
     
    Addressing a public event in Dahod, PM Modi announced the launch of a new Vande Bharat Express connecting Ahmedabad to Veraval, further strengthening connectivity in the state. He noted that Vande Bharat trains now run on nearly 70 routes across India, reflecting the country’s rapid strides in modern transport infrastructure.
     
    “The progress of India’s railways is directly linked to our technological advancements. Today, coaches and locomotives are manufactured domestically, reducing our dependence on imports,” the Prime Minister said.
     
    PM Modi stated that India has emerged as a global exporter of railway equipment, exporting metro coaches to Australia and train coaches to England, Saudi Arabia, and France. He also added that Mexico, Spain, Germany, and Italy are among the countries importing railway-related components from India.
     
    “Passenger coaches made in India are being used in Mozambique and Sri Lanka. Our locomotives are now reaching multiple countries, a testament to the growing strength of the ‘Make in India’ initiative,” he said.
     
    The Prime Minister said that a strong railway network not only enhances passenger convenience but also accelerates industrial and agricultural growth. Highlighting Gujarat’s development, he said that several parts of the state, which earlier had only narrow-gauge and slow-moving trains, have now been brought into the mainstream with expanded connectivity.
     
    PM Modi announced the inauguration of new railway routes, including a key express service between Dahod and Valsad, which he said would greatly benefit the tribal regions of the state.
     
    Focusing on local development, the Prime Minister said the newly set-up rail factory in Dahod will manufacture 9,000-horsepower locomotives, some of the most powerful engines in India. He informed that each locomotive produced will carry the name ‘Dahod’, turning the city into a key manufacturing hub.
     
    “Hundreds of locomotives will be built here in the coming years, creating large-scale employment opportunities for local youth,” he said.
     
    He added that this development would also boost small-scale industries and MSMEs that supply railway components, paving the way for economic growth in surrounding regions.
     
    “This transformation will benefit not just factory workers but also farmers, livestock owners, shopkeepers, and laborers, ensuring inclusive economic progress,” the Prime Minister added.

  • MIL-OSI: Siili Solutions Plc: Decision to Commence Share Buyback Programme

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc: Decision to Commence Share Buyback Programme

    Siili Solutions Plc Stock Exchange Release 26 May 2025 at 15:30 EEST

    The Board of Directors of Siili Solutions Plc (“Siili” or the “Company”) has resolved to commence the repurchase of the Company’s own shares based on the authorisation granted by the Annual General Meeting held on 8 April 2025. The Company may repurchase a maximum of 31,000 shares in one or several instalments, corresponding to approximately 0.38% of the Company’s total number of shares, which amounts to 8,140,263 shares.

    Based on the closing price on the trading day preceding the date of this release, the maximum total consideration for the repurchase corresponds to approximately 193,000 euros.

    At the time of this release, the Company holds a total of 689 of its own shares.

    The repurchases will be carried out using the Company’s distributable equity. The shares will be acquired through public trading arranged by Nasdaq Helsinki Ltd at the market price prevailing at the time of acquisition.

    The repurchases will be conducted in accordance with Article 5 of the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

    The Company has appointed Nordea to execute the repurchases in accordance with applicable price and volume limits and other applicable terms. The Company has the right to discontinue the repurchases at any time. The repurchases will commence no earlier than 1 June 2025 and end no later than 31 July 2025.

    The repurchases will be executed otherwise than in proportion to the holdings of the shareholders. The repurchased shares are intended to be used for fulfilments under Siili’s share-based incentive plans, which constitutes a weighty financial reason for the directed repurchase of own shares.

    The Board of Directors has been authorised to decide on the repurchase of up to 814,000 shares in total. The authorisation is valid until the conclusion of the next Annual General Meeting, however no longer than until 30 June 2026.

    For more information:

    Aleksi Kankainen, CFO
    Phone: +358 40 534 2709 
    Email: aleksi.kankainen(at)siili.com 

    Distribution:
    Nasdaq Helsinki Ltd
    Main media
    www.siili.com/fi

    Siili Solutions in brief:

    Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. www.siili.com

    The MIL Network –

  • MIL-OSI Europe: Christine Lagarde: Earning influence: lessons from the history of international currencies

    Source: European Central Bank

    Speech by Christine Lagarde, President of the ECB, at an event on Europe’s role in a fragmented world organised by Jacques Delors Centre at Hertie School in Berlin, Germany

    Berlin, 26 May 2025

    Over the past 80 years, the global economy thrived on a foundation of openness and multilateralism – underpinned by US leadership. By championing a rules-based international system and anchoring the dollar as the world’s reserve currency, the United States set the stage for trade to flourish and finance to expand.

    This global order proved immensely beneficial to the European Union, whose founding liberal principles aligned seamlessly with it. But today it is fracturing.

    Multilateral cooperation is being replaced by zero-sum thinking and bilateral power plays. Openness is giving way to protectionism. There is even uncertainty about the cornerstone of the system: the dominant role of the US dollar.

    All else equal, this fracturing can pose risks for Europe. Our economy is deeply integrated into the global trading system, with exports accounting for close to one-fifth of our value added and supporting 30 million jobs.

    Any change in the international order that leads to lower world trade or fragmentation into economic blocs will be detrimental to our economy.

    But – with the right policy responses – there could also be opportunities. The changing landscape could open the door for the euro to play a greater international role.

    Today, the euro is the second global currency, accounting for around 20% of foreign exchange reserves, compared with 58% in the case of the US dollar. Increasing the international role of the euro can have positive implications for the euro area.

    It would allow EU governments and businesses to borrow at a lower cost, helping boost our internal demand at a time when external demand is becoming less certain.

    It would insulate us from exchange rate fluctuations, as more trade would be denominated in euro, protecting Europe from more volatile capital flows.

    It would protect Europe from sanctions or other coercive measures.

    In short, it would allow Europe to better control its own destiny – giving us some of what Valéry Giscard d’Estaing called the “exorbitant privilege” 60 years ago.

    So, how likely is this change to happen? History suggests that it is far from guaranteed. The euro will not gain influence by default – it will have to earn it.

    For the euro to increase its global status, history tells us that we need to build on three foundations – each of them critical for success.

    First, Europe must ensure it has a solid and credible geopolitical foundation by maintaining a steadfast commitment to open trade and underpinning it with security capabilities.

    Second, we must reinforce our economic foundation to make Europe a top destination for global capital, enabled by deeper and more liquid capital markets.

    Third, we must bolster our legal foundation by defending the rule of law – and by uniting politically so that we can resist external pressures.

    Before we explore each of these three foundational components, let us observe what recent history can teach us.

    Shifts in the global currency landscape

    Shifts in the global currency landscape are not unprecedented in monetary history. There have been previous episodes where the world’s leading reserve currency issuer has taken steps that have called that leadership into question, without ultimately jeopardising it.

    For example, the US dollar took over from the pound sterling as the world’s leading reserve currency in the mid-1920s, with its share in foreign exchange reserves rising to 64% by 1931. But this leading position did not stop the United States taking measures to unilaterally change the international monetary order.

    For instance, in 1933 President Roosevelt suspended gold convertibility to fight the deflationary forces of the Great Depression. He dismissed European demands for fixed exchange rates with the argument that “the sound internal economic system of a nation is a greater factor in its well-being than the price of its currency”.[1]

    Then again in the 1970s President Nixon ended the Bretton Woods system by unilaterally suspending dollar convertibility to gold and imposing a 10% import tariff.

    Faced with growing imbalances between US current account deficits and the surpluses of western Europe and Japan, Treasury Secretary John Connally declared that “no longer can considerations of friendship, or need, or capacity justify the United States carrying so heavy a share of the common burdens.”[2]

    On both occasions, there was a decline in the standing of the US dollar as a foreign reserve currency. In the 1930s, it fell from over 60% to around 20% of global foreign exchange reserves. In the 1970s, it fell from about 70% to 50% two decades later.

    But on neither occasion was there a robust alternative currency that could take over at short notice. In the 1930s, the pound sterling was already declining, while in the 1970s the Deutsche Mark and the Yen were backed by markets that were too small.

    So, instead, investors flocked to gold. The share of gold in foreign reserves increased by about 20 percentage points in the 1930s to 97% and almost doubled to 60% in the 1970s.[3]

    Today, there is a key difference compared with previous eras. With the euro as the world’s second-largest currency, there is another international currency alongside the dollar. But this has not yet convinced investors.

    Over recent years, the dollar’s share in global foreign exchange reserves has fallen, with its current level of 58% being the lowest since 1994. In parallel, central banks have been accumulating gold at a record pace – almost matching the levels seen during the Bretton Woods era.[4] The share of gold in global foreign reserves[5] has reached around 20%, surpassing that of the euro.[6]

    As previously mentioned, we can identify three essential foundations for international currency usage, without which a currency cannot succeed on the global stage. And in each case, we can see that Europe has many of the key ingredients for success, but we need to bring them together to reinforce the foundations. Action is in order.

    The geopolitical foundation

    The starting point is a credible geopolitical foundation – which rests on both a country’s role in global trade and the strength of its military alliances.

    A currency’s exposure to trade is especially important, as it provides the initial pathway to wider international use. In the mid-1920s, for example, the dollar overtook the pound sterling as the leading form of trade credit before it became the leading reserve currency.[7]

    Once a currency captures a larger share of trade invoicing, its role in international banking and finance, and ultimately as a reserve asset, becomes self-reinforcing. Higher demand for the currency enhances its role as a store of value and further encourages investors to hold it.[8]

    As a major actor in global trade, Europe already has a key ingredient of a strong geopolitical foundation, creating the potential for a virtuous circle of euro internationalisation to unfold.

    The EU has the largest network of trade agreements in the world. Europe is the number one trading partner for 72 countries, which together represent almost 40% of world GDP.[9] And this status is reflected in the share of the euro as an invoicing currency, which stands at around 40%, more than double its share as a reserve currency.

    Europe can press home this advantage by continuing to forge new trade agreements. And we should make clear that we support a win-win approach to trade, ensuring that we are the most attractive partner to make deals with.

    The ECB can also help make the euro more attractive for euro-denominated trade. We are working on a potential digital euro and pursuing initiatives to enhance cross-border payments in euro, which could potentially facilitate international cross-border transactions in the future.

    And by extending swap and repo lines to key partners, we safeguard against euro liquidity shortages abroad disrupting the smooth transmission of our monetary policy – which in turn encourages those partners to transact more in euro.

    But there is a limit to how much a currency can grow simply by virtue of being open to trade. In fact, the euro’s share of global export invoicing is already as large as that of the US dollar, but we are not closing the gap in reserve currency status.

    This is because investors – and especially official investors – also seek geopolitical assurance in another form: they invest in the assets of regions that are reliable security partners and can honour alliances with hard power. So a credible geopolitical foundation must also rest on robust military partnerships.

    This dual strength is essentially what we can learn from the US dollar’s dominance. It is not just a product of economic fundamentals but it is also powerfully reinforced by US security guarantees. These guarantees not only deepen trade ties[10], but have been shown to boost a currency’s share in foreign reserves by up to 30 percentage points.[11]

    We are now seeing a major shift in Europe towards rebuilding our hard power, with important initiatives underway at the national and EU levels. And we should be clear that following through with this effort is a precondition for the euro to become more widely used.

    The economic foundation

    Trade and military power are important for establishing demand for an international currency. But to satisfy this demand, investors need appropriate assets to invest in.

    This is why a strong economic foundation – one that provides opportunities for growth and opportunities to invest in growth – is equally essential.

    There is a virtuous circle between growth, capital markets and international currency usage. Growth generates robust rates of return, which make investors want to hold assets in a particular currency. And capital markets provide investment opportunities and channel funds back into growth.

    At the same time, if capital markets provide a sufficient supply of “safe assets”, investors can hedge their exposures efficiently. When a shock hits and riskier investments lose value, safer assets rise in value. That provides a complete ecosystem for investments in the currency.

    The US dollar’s rise to dominance in the interwar period was certainly driven by this virtuous circle. The development of US capital markets boosted growth – with each 1 percentage point increase in market capitalisation yielding 0.5 percentage points more growth[12] – while simultaneously establishing the foundation for dollar dominance. The depth and liquidity of the US Treasury market in turn provided an efficient hedge for investors.

    Europe has all the elements it needs to produce a similar cycle. But so far, we have not been able to put all the pieces together.

    Despite our large single market, we have fallen behind the US in terms of growth performance and market returns. Since 2000, US labour productivity per hour has grown twice as much as in the euro area, mainly driven by the tech sector, and US markets have delivered returns that are around five times as high as those of European markets.[13]

    Despite our large savings, we have made little progress in integrating our capital markets to channel more of our funds into growth. 60% of household equity investment goes into home country markets even though there may be greater opportunities abroad.

    And despite our strong aggregate fiscal position – our debt-to-GDP ratio is 89%, compared with 124% in the United States – we provide relatively few safe assets. Recent estimates suggest that outstanding sovereign bonds rated at least AA are just below 50% of GDP in the EU and above 100% in the US.[14]

    The conclusion for Europe is clear: if we truly want to see the global status of the euro grow, we must first reform our domestic economy.

    That means moving forwards with the priorities identified in recent reports: completing the Single Market, enabling start-ups, reducing regulation and building the savings and investment union. And it means avoiding a piecemeal approach, where we make progress where it is easy and dither where it is hard, else we will never kick-start the positive cycle.

    Moreover, in this new geopolitical landscape, the case for acting in a European way has never been stronger.

    Each individual country of course needs to make sure that its national policies support growth. But we also need to be mindful of self-defeating fragmentation. For example, we all agree that Europe needs to build up its strategic industries to avoid excessive dependencies – as Mario Draghi and Enrico Letta emphasised in their recent reports. But we will not succeed if we have 27 different policies for these industries.

    Nowadays there are also more policy goals that qualify as European public goods, notably strengthening European defence. But due to the free-rider problem, defence is a good that is likely to be undersupplied. Moreover, joining forces to procure equipment and develop new technologies – leading to economies of scale and more interoperability – will result in greater operational effectiveness than if all 27 Member States go it alone.

    Economic logic tells us that public goods need to be jointly financed. And this joint financing could provide the basis for Europe to gradually increase its supply of safe assets.

    The legal foundation

    Geopolitical strength and faster growth can go a long way towards strengthening the euro’s international role. But maintaining demand for the currency will also depend on our ability to uphold a robust legal and institutional foundation.

    Ultimately, currencies achieve and maintain their reserve status if the institutions and policies backing them consistently safeguard investor confidence in their long-term value.[15]

    For example, historically, the US dollar’s pre-eminence has rested on the strength and stability of US fiscal and monetary institutions. The Federal Reserve System’s credible commitment to controlling inflation, combined with the unparalleled liquidity of the US Treasury market, created a perception of minimal sovereign risk. This made the dollar a safe haven during global economic turbulence and recessions.[16]

    Since 1970, there have been 34 instances of simultaneous sovereign debt and financial crises globally, but the US has remained immune to such “twin crises”.[17]

    However, when doubts emerge about the stability of the legal and institutional framework, the impact on currency use is undeniable.

    These doubts have materialised in the form of highly unusual cross-asset correlations since 2 April this year, with the US dollar and US Treasuries experiencing sell-offs even as equities fell. The same doubts are also cited by investors who are turning to gold: two-fifths say they are doing so as a hedge against rising geopolitical risk.[18]

    Given this context, the EU has a legitimate reason to turn its commitment to predictable policymaking and the rule of law into a comparative advantage.

    This commitment is baked into how the EU works. The positive side of our often slow and complicated decision-making processes is that checks and balances are always respected. We have also enshrined into law the independence of our key institutions, like the ECB, in ways that are hard for politicians to threaten.

    But relying on the fact that our bureaucratic systems are hard to change is not enough. In the current geopolitical environment, we are facing increasing external pressures to take actions that jeopardise the rule of law. And we will only be able to resist these pressures if we are more politically united and able to speak with a single voice.

    As we potentially enter a renewed era of great power rivalry, with countries being asked to take sides, we are likely to find ourselves under pressure to make decisions that are not necessarily in our own interest.

    But if we take this opportunity to unite and, preferably, to reform our institutional structure by enabling more qualified majority voting in areas where a single veto has often held back the collective interests of the 26 other countries, that would enable us to act decisively as a united Europe. We would then be in a much stronger position to defend and uphold our values and, as a result, to defend and uphold global confidence in our currency.

    Conclusion

    Let me conclude.

    In the history of the international monetary system, there are moments when the foundations that once seemed unshakeable begin to shift.

    The Belgian-American economist Robert Triffin described this with great clarity. He observed that nations’ confidence in the international monetary system depends on the reliability of the reserve currency, which, in his words, is “highly dependent on individual countries’ decisions”.

    But moments of change can also be moments of opportunity. The ongoing changes create the opening for a “global euro moment”.

    This is a prime opportunity for Europe to take greater control of its own destiny. But this is not a privilege that will simply be given to us. We have to earn it.

    MIL OSI Europe News –

  • MIL-OSI: Talkdesk selected by Cegeka to modernize customer experience

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif. and HASSELT, Belgium, May 23, 2025 (GLOBE NEWSWIRE) — Talkdesk®, Inc., a global provider of artificial intelligence (AI)-powered customer experience (CX) technology that serves enterprises of all sizes, today announced that Cegeka, a leading global IT solutions provider, has selected Talkdesk to modernize its customer experience. By adopting the Talkdesk cloud-native and AI-driven platform, Cegeka aims to enhance customer engagement and deliver consistent, high-quality support across multiple channels. Talkdesk was selected for its omnichannel capabilities, user-friendly interface for its service desk agents, and advanced AI tools designed to streamline workflows and address diverse customer needs.

    As part of the partnership, Talkdesk will provide Cegeka with a range of solutions from the Talkdesk CX Cloud™ suite. These capabilities include text-to-speech and speech-to-text, as well as live chat and voice bots, adding new channels for real-time support. Additionally, Talkdesk CX Analytics extracts valuable insights from customer conversations so Cegeka can continuously improve its customer service.

    Talkdesk’s ongoing track record of innovating and introducing cutting-edge AI solutions to its platforms was a significant reason for Cegeka’s decision. Cegeka recognized how Talkdesk can help the organization seamlessly integrate AI into its customer service, minimizing response times and reducing average handle time (AHT). Among its many capabilities, Talkdesk Ascend AI enables businesses to automatically identify frequently asked questions (FAQs) and create consistent, fast responses to recurring issues. It also detects intent during conversations to improve agent responsiveness and service quality.

    “Partnering with Talkdesk has supported our efforts to modernize customer experience at Cegeka,” said Luc Dedroog, vice president of digital workplace at Cegeka. “The platform offers flexibility and simplicity, which has helped streamline service for both our customers and service desk agents. We expect to see improvements in customer satisfaction from our initial deployments and look forward to exploring the potential of Talkdesk’s AI capabilities moving forward.”

    Ease of deployment and use was another deciding factor in Cegeka’s choice to implement Talkdesk solutions. Talkdesk CX Cloud has a user-friendly interface and provides seamless integrations with the third-party systems Cegeka uses. The Microsoft Teams Connector integrates its communications solutions, and Talkdesk BYOC (Bring Your Own Carrier) facilitates easy integration with Cegeka’s existing telephony provider to maintain its current customer service phone numbers—making Talkdesk solutions seamless to implement and deploy and putting all information easily at agents’ fingertips. Additionally, the Quobis app will enable internet-based calling and efficiently route conversations to the appropriate groups, without the need for manual routing.

    “Talkdesk looks forward to empowering Cegeka to deliver an enhanced customer experience through our innovative and comprehensive solutions,” said Tiago Paiva, chief executive officer and founder at Talkdesk. “Supporting Cegeka on its customer experience transformation journey is an honor.”

    About Talkdesk

    Talkdesk® is on a mission to rid the world of bad customer experience. With our cloud-native, generative AI-powered CX platform, purpose-built industry solutions, and extensible AI offerings, we empower enterprises in the cloud and on-premises to deliver exceptional customer experiences that make them more competitive, grow revenue, reduce costs, and provide operational efficiencies. With specialized workflows and integrations delivered out of the box for our Industry Experience Clouds, Talkdesk accelerates value for our customers faster and more simply than legacy or one-size-fits-all solutions.

    Partnering with enterprises globally, we deliver continuous innovation and breakthrough results. Our commitment to reliability and security, paired with our track record of delivering on promises, sets us apart in the industry. Elevate customer experiences, streamline operations, and increase revenue with Talkdesk. Companies that love their customers use Talkdesk.

    Talkdesk is a registered trademark of Talkdesk, Inc. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

    About Cegeka

    At Cegeka, we believe in shaping digital together. We don’t just deliver technology — we work shoulder to shoulder with our clients to design, build, and run resilient digital solutions that drive impact where and when it matters most.

    Our broad portfolio spans application services, business solutions, quality engineering, data & AI, digital workplaces, cyber resilience, networking & regulatory services, and hybrid cloud. With a strong focus on craftsmanship, we expertly manage legacy systems while accelerating modernization and innovation.

    Cegeka has a global presence with offices in the Benelux, Germany, Austria, Romania, Moldova, Italy, Sweden, Greece, Denmark, France, the United Kingdom, the United States, Colombia, and India. With over 10,000 employees, the company achieved a consolidated revenue of €1.3 billion in 2024.

    Founded in 1992 by André Knaepen — who currently serves as chairman of the board — Cegeka is a family-owned company headquartered in Hasselt, Belgium, and led by CEO Stijn Bijnens.

    Media Contact:
    Talkdesk Public Relations
    pr@talkdesk.com

    The MIL Network –

  • MIL-OSI Europe: Diversity : European Parliaments are falling behind

    Source: Universities – Science Po in English

    People of foreign origin continue to be underrepresented in national parliaments across Europe, according to a comparative study conducted in Germany, Spain, the Netherlands, the United Kingdom, and Switzerland. Laura Morales, a researcher at the Centre for European Studies and Comparative Politics (Sciences Po / CNRS), contributed to this study. In particular, individuals with immigrant backgrounds remain underrepresented relative to their share of the general population. This is also the case in France, according to earlier research by Laura Morales. Discover the main findings in this article. 

    Members of parliament with immigrant backgrounds remain underrepresented in the national parliaments of major European countries, according to the recent REPCHANCE Europe study, funded by the Robert Bosch Stiftung. Covering five European democracies—Germany, Spain, the Netherlands, the UK, and Switzerland—between 2012 and 2021, the study defines individuals of immigrant origin as those born abroad with foreign nationality, or with at least one parent meeting that condition. The study shows that, despite progress over the past decade, the proportion of individuals of immigrant origin among national parliamentarians remains lower than their share in the population of each country. This observation also applies to France, which Laura Morales examined in a separate project funded by Sciences Po, InclusiveParl. 

    Disparities in the Representation of Social Diversity Over Time and Space

    As of 2021, the Netherlands leads with the highest proportion of MPs of immigrant origin (19%), though this is still below the percentage of immigrants in the general population (24.6% according to StatLine). The same is true for all other countries studied, including Switzerland (14% in the National Council, compared to 39.5% in the population according to the BFS) and Germany (11% in the Bundestag, compared to 27.2% according to Destatis). 

    For Spain, France, and the UK, only the proportion of those born abroad or with foreign nationality is known. These figures—drawn from OECD statistics for comparability—thus underestimate the population of foreign descent, yet they still exceed or at best equal the share of immigrant-origin MPs: Spain’s Congress of Deputies includes 2% immigrant-origin MPs (versus 15.4% foreign-born residents), France’s National Assembly 9.8% (versus 13.3%), and the UK’s House of Commons 15% (versus 14%). The discrepancies would be even larger if descendants of foreign-born individuals with foreign nationality were considered in the general population.

    Parliamentary representation of individuals with immigrant backgrounds has improved over time, but progress has varied greatly by country (see chart below).

    Share of MPs of Immigrant Origin in Five European National Parliaments (2012–2021). 
    Depending on the country, this period includes a variable number of legislative sessions: 5 in Spain, 4 in Germany and the UK, 3 in Switzerland, and 2 in the Netherlands. 
    Source : REPCHANCE Europe. Drivers and Obstacles to Minority Representation.

    In comparison with these five countries, the proportion of foreign-origin MPs in France’s National Assembly was 7.5% during the 14th legislature (2012–2017) and 9.8% during the 15th (2017–2022). These figures place parliamentary diversity in France at a level similar to Germany during the same period. 

    “These contrasting developments in diversity within European parliaments are partly due to differing immigration timelines and levels in each country—a longer migration history in the UK, more intense immigration in Switzerland—but also to the degree of attention political parties pay to diversity in their ranks and candidate selections,” explains Laura Morales, university professor at the Centre for European Studies and Comparative Politics and lead researcher of the study for Spain and the UK. “The role of political parties is evident in the non-linear increase in diversity in the Dutch and Swiss parliaments and the lack of real progress in Spain, despite growing social diversity in all of these countries.”

    Persistent Obstacles

    Another part of the REPCHANCE Europe study is based on interviews with elected officials of immigrant origin at national, regional, or local levels. These interviews help to understand how such individuals become politically engaged and what barriers they face. For example, people of immigrant origin more often run under left-wing parties, particularly in Germany and Switzerland, and to a lesser extent in the UK and the Netherlands. Decisions to run for office are often influenced by growing up in politically active families, but mobilization by party officials also plays a crucial role. Whether they are actually elected depends on factors such as the constituency assigned or list placement in proportional voting systems. 

    Once in office, foreign-origin MPs often face discrimination (with women experiencing both sexism and racism), hate speech, or tokenism—being used to give the appearance of diversity—according to the study. Furthermore, these MPs are often expected (or limited) to focus on migration and integration issues, even without prior expertise in these areas.

    Towards Greater Political Inclusion

    In their report, the researchers propose concrete measures to achieve more balanced representation of people of immigrant origin. These recommendations include extending voting rights for certain elections (e.g., local or regional), educational initiatives, but most importantly, measures targeted at political parties: more active recruitment of immigrant-origin individuals, stronger anti-discrimination policies, and a focus on training, which would benefit all newcomers to politics. 

    Ferdinand Mirbach, an expert at the Robert Bosch Stiftung, emphasizes that “increasing the political representation of people of immigrant origin is essential for the proper functioning of democracy. Political parties, civil society, and institutions must actively create opportunities and remove obstacles to ensure a diversity of voices are heard in decision-making.”
     

    > To learn more, access the comparative research report REPCHANCE Europe. 

    Translation from French to English by Hannah Ashburn

    MIL OSI Europe News –

  • MIL-OSI China: Xi says China ready to work with Germany to open new chapter in all-round strategic partnership 2025-05-23 23:03:50 Chinese President Xi Jinping said Friday that China is ready to work with Germany to open a new chapter in their all-round strategic partnership, to steer China-EU relations toward new progress and to make new contributions to the stable growth of the world economy.

    Source: People’s Republic of China – Ministry of National Defense

    BEIJING, May 23 (Xinhua) — Chinese President Xi Jinping said Friday that China is ready to work with Germany to open a new chapter in their all-round strategic partnership, to steer China-EU relations toward new progress and to make new contributions to the stable growth of the world economy.

    Speaking to German Chancellor Friedrich Merz over phone, Xi once again congratulated him on assuming office. He pointed out that as the world undergoes accelerated changes unseen in a century and the international landscape is marked by transformation and turbulence, the strategic and global significance of China-Germany and China-EU relations has become even more prominent.

    A sound and stable China-Germany relationship serves both countries’ interests, and meets the expectations of various sectors in China and Europe, the Chinese president added.

    China and Germany have developed their bilateral relations based on mutual respect, seeking common ground while shelving differences, and win-win cooperation, Xi stressed, calling on both sides to maintain and carry forward this fine tradition.

    First, Xi called for consolidating political mutual trust. He said China views Germany as a partner, welcomes Germany’s development and prosperity, and is willing to maintain close high-level exchanges with Germany, respect each other’s core interests and consolidate the political foundation of bilateral relations.

    Second, Xi urged the two sides to enhance the resilience of the bilateral relationship. He said both sides should not only continue to expand the existing cooperation in traditional fields such as automobiles, mechanical manufacturing and chemical industry, but seek more collaboration in cutting-edge fields such as artificial intelligence and quantum technology, and strengthen exchanges and cooperation in areas including climate change and green development, contributing the wisdom and solutions of China and Germany to global sustainable development.

    Third, Xi noted that bilateral cooperation should continue to gather momentum. He said that China is willing to share with Germany development opportunities brought about by its high-level opening-up, adding that China hopes Germany will offer more policy support and facilitation for two-way investment, and provide a fair, transparent and non-discriminatory business environment for Chinese enterprises.

    Xi pointed out that facts have fully proven that partnership is the proper positioning of China-Germany and China-EU relations, and a stable and predictable policy environment is essential to ensuring bilateral cooperation.

    As major countries, he added, both sides share a common responsibility. Noting that this year marks the 50th anniversary of diplomatic relations between China and the EU, Xi said that the two sides should jointly review the successful experience in the development of China-EU relations and send a positive signal in support of multilateralism and free trade, as well as deepening openness and mutually beneficial cooperation.

    MIL OSI China News –

  • MIL-OSI Global: History shows that Donald Trump is making a serious error in appeasing Vladimir Putin

    Source: The Conversation – UK – By Tim Luckhurst, Principal of South College, Durham University

    The policy of appeasement – strategic concessions to an aggressor that are designed to avoid war – is generally most closely associated in the UK with the Conservative leader Neville Chamberlain, prime minister between May 1937 and May 1940.

    When Chamberlain moved into 10 Downing Street, Adolf Hitler’s willingness to ignore international agreements was already apparent, having broken the Versailles treaty with a massive expansion of Germany’s armed forces, the occupation of the Rhineland.

    Faced with the prospect of Germany moving on Czechoslovakia, Chamberlain continued to work to appease Hitler by agreeing to territorial concessions in his favour. He believed that by appeasing the Führer, Europe could avoid war and save lives.

    Chamberlain’s failure, and the subsequent outbreak of the second world war after Germany’s invasion of Poland in September 1939, are recognised as evidence that the appeasement of expansionist nationalists always fails. Such leaders will simply take all that is offered and demand more.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    There are parallels with the relationship between the current US president, Donald Trump, and the Russian president, Vladimir Putin. Trump and his senior officials have also repeatedly suggested that Ukraine should secure a peace deal by acquiescing to Putin’s demands, including for sovereign Ukrainian territory and assurances that Ukraine won’t be allowed to join Nato.

    This makes it seem as if Trump believes that peace can be achieved by appeasing Putin. Like Chamberlain at Munich, Trump has suggested offering the sovereign territory of an independent nation to appease a bully.

    Trump is not the first American president to make this mistake. Franklin D. Roosevelt, who served between March 1933 and April 1945, also tried to appease Hitler. The historian Frederick W. Marks III notes that “the keynote of his approach … beginning in 1933 was appeasement”.

    Before he was inaugurated, Roosevelt sought to persuade Sir Ronald Lindsay, the British ambassador to the US between 1930 and 1939, that Poland should be persuaded to concede the Polish Corridor to Germany. When German troops seized the Rhineland, Roosevelt’s White House made no protest.

    Between 1935 and 1937, Roosevelt made speeches condemning autocracy – but his actions did not match his words. In 1938, he appointed the appeaser Joseph Kennedy as US ambassador to the UK. Kennedy assured the German ambassador in London that he “sympathised not only with Germany’s racial policy but also with her economic goals”.

    In Berlin, the US ambassador, Hugh Wilson, insisted that defence of Czechoslovakia’s borders would be unrealistic. The Czechs should surrender the Sudetenland to Germany. Roosevelt continued his efforts to arrange a compromise peace when German forces seized Poland in September 1939.

    Echoes of the past

    The parallels continue. Confronted by Russia’s invasion of its democratic neighbour and relentless attacks on Ukrainian towns and cities, Trump’s response, shortly after taking office, was to bully the Ukrainian president, Volodymyr Zelensky, and negotiate directly with Russia. This approach signally failed and the killing continued and even intensified.

    Now, following his two-hour conversation with Putin on Monday, Trump has abandoned his insistence on an unconditional 30-day ceasefire. He now insists that the war is not his to fix. The US will step back. It is another hard blow to Ukrainian hopes for negotiation and compromise.



    Read more:
    After another call with Putin, it looks like Trump has abandoned efforts to mediate peace in Ukraine

    To a much greater extent than Roosevelt, Trump appears to treat weakness as evidence of moral inadequacy. In a recent essay, Ivan Mikloš, the former deputy prime minister of Slovakia who has advised successive Ukrainian governments in various capacities, writes of what he sees as Trump’s “affinity for the Kremlin boss”. Miklos believes that Trump admires Putin, and concludes that:

    President Putin, of course, sees that Mr Trump has a soft spot for him. This does not deter him in his maximalist demands, it encourages him even more.

    The US president’s treatment of Zelensky in the Oval Office at the end of February, and repeated statements since, suggest he lacks the patience for diplomacy – a concern that has been widely reported. Trump is said to admire Putin because the Russian president exercises power with minimal restraint.

    Meanwhile, Zelensky must plead for the military and financial support he requires to continue fighting a foe with a population four times larger.

    Lessons from history

    There is scant evidence that Trump pays attention to history. He should, because for Putin, history is central to strategy. A graduate of law who studied at Leningrad State University, graduating in 1975, Putin appears to have embraced an idealist version of his homeland as it operated in his youth as the Soviet Union – under the hardline leadership of Leonid Brezhnev, Yuri Andropov and Konstantin Chernenko.

    That Soviet Union included all of the territory of modern Ukraine. Putin aspires to recapture it. His vision is a Russia restored to a status comparable to that of the Soviet Union during the cold war years of his youth.

    Trump appears to forget that throughout the cold war, the Soviet Union’s powerful armed forces and ideological hostility to democracy cost the US an average of 3.6% of its GDP in defence spending each year. It’s one thing for Trump to demand that the European members of Nato must increase their defence budgets. It’s another to imagine that Nato can immediately provide a reliable deterrent to Russian aggression without US involvement.

    Trump’s newly appointed defense secretary, Pete Hegseth, suggested at a meeting of the Ukraine Defence Contact Group in Brussels in February that the US would reorientate its security policy away from Europe, saying Europe must “take ownership of conventional security on the continent”.

    This is essential, Hegseth said, because China is the real threat, and the US lacks the military resources to face in two directions simultaneously. It was a confession of weakness that places both America and Europe at increased risk.

    The philosopher George Santayana is credited with the warning: “Those who cannot remember the past are condemned to repeat it.”. Chamberlain’s version of appeasement failed to prevent Adolf Hitler’s aggression in the 20th century. Trump’s version appears equally incapable of deterring Vladimir Putin’s territorial ambitions in the 21st.

    Tim Luckhurst has received funding from News UK and Ireland Ltd. He is a fellow of the Royal Society of Arts and a member of the Society of Editors and the Free Speech Union

    – ref. History shows that Donald Trump is making a serious error in appeasing Vladimir Putin – https://theconversation.com/history-shows-that-donald-trump-is-making-a-serious-error-in-appeasing-vladimir-putin-257252

    MIL OSI – Global Reports –

  • MIL-OSI Russia: More than 18,000 foreign-invested companies were established in China in January-April 2025

    Translation. Region: Russian Federal

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

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

    BEIJING, May 23 (Xinhua) — A total of 18,832 new foreign-funded companies were established on the Chinese mainland in the first four months of 2025, up 12.1 percent year on year, the Ministry of Commerce said Friday.

    As noted by the department, from January to April, the volume of actually used foreign direct investment (FDI) in mainland China amounted to 320.78 billion yuan (about 44.6 billion US dollars), which is 10.9 percent less year-on-year.

    At the same time, the volume of actually used FDI in the manufacturing sector during the reporting period reached 84.06 billion yuan, and another 231.25 billion yuan went to the service sector.

    The actual FDI in high-tech industries rose to 96.71 billion yuan, with FDI in the e-commerce services sector increasing by 137 percent, in the aerospace equipment manufacturing sector by 86.2 percent, in the chemical and pharmaceutical industry by 57.8 percent, and in the medical instruments and equipment manufacturing sector by 4.9 percent.

    According to statistics from China’s Ministry of Commerce, investment from the Association of Southeast Asian Nations (ASEAN) increased by 42.9 percent year-on-year during the period, while investment from Japan increased by 74.2 percent. Investment from Switzerland increased by 68.4 percent, from the United Kingdom by 54.6 percent, from the Republic of Korea by 22.3 percent, and from Germany by 12.3 percent. –0–

    MIL OSI Russia News –

  • MIL-OSI Global: What action can Israel’s allies take over its expansion of military operations in Gaza?

    Source: The Conversation – UK – By Catherine Gegout, Associate Professor in International Relations, University of Nottingham

    The British, French and Canadian leaders issued a joint statement on May 19 in which they condemned Israel’s “egregious actions” in Gaza, warning that concrete action could follow if it does not stop its military offensive. They said an 11-week blockade on humanitarian aid reaching the territory had led to an “intolerable” level of human suffering.

    Israel’s prime minister, Benjamin Netanyahu – who the International Criminal Court (ICC) alleges is responsible for war crimes in Gaza – responded angrily. He accused the leaders in London, Ottawa and Paris of offering Hamas a “huge prize” for its October 7 attack on Israel.

    This drew a rebuttal from the British foreign secretary, David Lammy, who declared that “opposing the expansion of a war that’s killed thousands of children is not rewarding Hamas”. So, what action can Israel’s western allies take over its offensive in Gaza?

    The most realistic option is probably the recognition of Palestinian statehood. The Netanyahu government has expressed fierce opposition to the establishment of a Palestinian state, saying recently it would be a “win for terrorism”.

    Get your news from actual experts, straight to your inbox. Sign up to our daily newsletter to receive all The Conversation UK’s latest coverage of news and research, from politics and business to the arts and sciences.

    But this recognition would send a strong message of support for a two-state solution, which most of the world has long seen as the only way to end the Palestinian-Israeli conflict. And the UK, along with Canada, has said it is joining a French initiative to recognise Palestine as a state at a June conference in New York, organised to advance a two-state solution.

    By doing so, the UK, France and Canada would join 160 states that already recognise Palestine. These include 11 states in the EU: Bulgaria, Cyprus, the Czech Republic, Hungary, Ireland, Poland, Romania, Slovakia, Slovenia, Spain and Sweden.

    Stop selling arms

    Another option is for western states to stop selling arms to Israel. France has done this already. And the British government partially suspended arms exports to Israel in September 2024 over concerns they could be used unlawfully in Gaza.

    However, in the three months that followed, the government reportedly approved US$169 million (£126 million) worth of military equipment to Israel. This is more than the total amount it approved between 2020 and 2023.

    The UK maintains that its “exports of military goods to Israel are low”, and the same is true for Canada. The UK and Canada together provide less than 1% of the annual value of Israel’s military imports. But a full suspension would be a major political statement, demonstrating diminishing international support for Israel’s military offensive in Gaza.

    For a total ban to have any effect on the Israeli military’s operations, it needs to be complemented by similar action from more significant arms providers. Germany, for instance, accounted for 30% of Israel’s arms imports between 2019 and 2023.

    The UK and Canada are also part of the global F-35 jet fighter programme, with the UK alone supplying 15% of the value of each jet. F-35 jets play a key role in Israel’s military operations in Gaza. But stopping British-made parts for F-35s from being supplied to Israel is unlikely.

    It would involve pulling out of the entire programme, which the government says is crucial for international security. However, given the High Court is hearing a case that alleges the sale of components for F-35s indirectly to Israel breaks domestic and international law, its stance could change.

    Western countries could also suspend their trade with Israel. The EU accounts for almost 30% of Israeli exports, with a similar amount of Israeli imports coming from the EU. The UK is the 11th-largest importer of Israeli goods.

    This option would have a significant impact on Israel’s economy, and is being considered by both the UK and EU. On May 20, Lammy announced the suspension of negotiations over a new free trade deal between the UK and Israel. And the EU has said it will review its trade association deal with Israel, after 17 of the bloc’s 27 foreign ministers backed the move.

    A complete suspension of the EU’s trade agreement with Israel would require unanimity, so it is unlikely. But a partial suspension is possible, as this would only require at least 55% of member states to vote in favour.

    Sanction Israeli settlers

    One more option is the expansion – and coordination – of efforts to sanction Israeli nationals who promote violence against Palestinians. In 2024, France, Canada and the EU imposed financial sanctions and travel bans against extremist Israeli settlers who had been found guilty of using violence against Palestinian civilians in the West Bank.

    The UK has now taken a similar approach, introducing sanctions on several individuals and entities involved in the Israeli settler movement. This includes prominent Israeli settler Daniella Weiss, who featured in Louis Theroux’s recent documentary, The Settlers. Weiss has dismissed the sanctions, saying they will not affect her or the broader settler movement.

    Britain’s government is also reportedly considering sanctions against Israel’s finance minister, Bezalel Smotrich, and national security minister Itamar Ben-Gvir. Lammy referred to Smotrich’s recent comments that the Israeli military offensive will be “destroying everything that’s left” of Gaza as “monstrous”.

    Sanctions could, in theory, be complemented by bans on the import of goods from Israeli settlements. Israel’s finance ministry says that 2.5% of the country’s agricultural exports and 1.5% of industrial exports to the EU originate in settlements.

    This type of ban would be difficult for France to introduce due to EU law, but it might not be impossible. Ireland is also trying to ban the trade of goods from such settlements.

    Above all, Israel’s allies should step up their efforts to respect international law. In November 2024, the ICC issued an arrest warrant for Netanyahu over alleged war crimes relating to the Gaza war.

    The UK and Canada have said they would arrest Netanyahu if he travels to either country – and they could apply pressure on France to join them. France has not said whether it would arrest Netanyahu if he sets foot on French territory.

    The humanitarian situation in Gaza is likely to worsen over the coming weeks and months. If Israel’s western allies want to use their influence to force the Israeli government to end the conflict, now is the time.

    Catherine Gegout does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. What action can Israel’s allies take over its expansion of military operations in Gaza? – https://theconversation.com/what-action-can-israels-allies-take-over-its-expansion-of-military-operations-in-gaza-257154

    MIL OSI – Global Reports –

  • MIL-OSI Russia: China Ready to Open New Chapter in Comprehensive Strategic Partnership with Germany – Xi Jinping

    Translation. Region: Russian Federal

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

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

    BEIJING, May 23 (Xinhua) — China is willing to work with Germany to open a new chapter in the history of bilateral comprehensive strategic partnership, promote new progress in China-EU ties, and make new contributions to the stable growth of the world economy, Chinese President Xi Jinping said Friday.

    During a telephone conversation with German Chancellor Friedrich Merz, Xi Jinping once again congratulated him on taking office. He noted that in a world where changes unseen in a century are accelerating and the international situation is volatile and unstable, the strategic and global significance of China-Germany and China-Europe relations is becoming even more noticeable.

    Healthy and stable relations between China and Germany serve the interests of both countries and meet the expectations of various social circles in China and Europe, the Chinese president said.

    The Chinese leader stressed that China and Germany have always developed their bilateral relations based on the spirit of mutual respect, seeking common ground while preserving differences, and cooperation for mutual benefit. Such a fine tradition should be carefully preserved and developed, Xi Jinping said.

    First, the Chinese President called for strengthening political mutual trust. He noted that China regards Germany as a partner, welcomes its development and prosperity, and is ready to strengthen close high-level exchanges with Germany, respect each other’s fundamental interests, and strengthen the political foundation of interstate relations.

    Secondly, Xi called on the two sides to enhance the resilience of bilateral relations. He said that they should not only continue to expand existing cooperation in traditional areas such as automobiles, machinery and chemicals, but also cultivate cooperation in cutting-edge sectors such as artificial intelligence and quantum technology, and strengthen exchanges and cooperation in areas such as climate change and green development, bringing the wisdom and solutions of China and Germany to global sustainable development.

    Third, the Chinese President noted that it is important to increase the momentum of cooperation. He assured that China is willing to share with Germany the development opportunities brought by high-level opening up, adding that China hopes that Germany will provide more policy support and promotion for mutual investment, and provide a fair, transparent and non-discriminatory business environment for Chinese enterprises.

    According to Xi Jinping, facts have fully proven that partnership is the correct positioning of China-Germany and China-EU relations, and a stable and predictable political environment is an important guarantee for bilateral cooperation.

    The Chinese president pointed out that the responsibility of major countries is the common mission of both sides. Recalling that this year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU, Xi said the two sides should jointly summarize the successful experience of developing China-EU ties and send a positive signal to safeguard multilateralism and free trade, as well as deepen open and mutually beneficial cooperation. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: European stocks plummet after Trump threatens 50 percent tariffs on EU imports

    Translation. Region: Russian Federal

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

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

    BERLIN, May 23 (Xinhua) — European stocks fell sharply on Friday after U.S. President Donald Trump escalated trade tensions with the European Union by announcing sweeping new tariffs and threatening Apple, reigniting investor fears about the economic impact of a renewed transatlantic trade war.

    D. Trump wrote on a social network that he recommends introducing 50 percent tariffs on all goods imported from the EU starting June 1, explaining this decision by the fact that negotiations with Brussels have reached an impasse.

    “Trade talks are going nowhere,” the American leader said, adding that the EU “was created with the main purpose of benefiting from trade with the United States.”

    Markets reacted swiftly. Europe’s STOXX 600 fell 2.16 percent to 537.39 before paring some of its losses. National indices were also hit hard, with Italy’s FTSE MIB, Germany’s DAX, France’s CAC 40 and Spain’s IBEX 35 all down more than 2 percent. The DAX fell to a two-week low, briefly touching 23,325.5 during the session.

    “This latest threat is worse than the worst-case scenario,” said Fiona Cincotta, senior market analyst at City Index. –0–

    MIL OSI Russia News –

  • MIL-OSI Canada: Promoting Alberta on the world stage

    Source: Government of Canada regional news (2)

    MIL OSI Canada News –

  • MIL-OSI China: Xi says China ready to work with Germany to open new chapter in all-round strategic partnership

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

    Xi says China ready to work with Germany to open new chapter in all-round strategic partnership

    BEIJING, May 23 — Chinese President Xi Jinping said Friday that China is ready to work with Germany to open a new chapter in their all-round strategic partnership, to steer China-EU relations toward new progress and to make new contributions to the stable growth of the world economy.

    Speaking to German Chancellor Friedrich Merz over phone, Xi once again congratulated him on assuming office. He pointed out that as the world undergoes accelerated changes unseen in a century and the international landscape is marked by transformation and turbulence, the strategic and global significance of China-Germany and China-EU relations has become even more prominent.

    A sound and stable China-Germany relationship serves both countries’ interests, and meets the expectations of various sectors in China and Europe, the Chinese president added.

    China and Germany have developed their bilateral relations based on mutual respect, seeking common ground while shelving differences, and win-win cooperation, Xi stressed, calling on both sides to maintain and carry forward this fine tradition.

    First, Xi called for consolidating political mutual trust. He said China views Germany as a partner, welcomes Germany’s development and prosperity, and is willing to maintain close high-level exchanges with Germany, respect each other’s core interests and consolidate the political foundation of bilateral relations.

    Second, Xi urged the two sides to enhance the resilience of their ties. He said both sides should not only continue to expand the existing cooperation in traditional fields such as automobiles, mechanical manufacturing and chemical industry, but seek more collaboration in cutting-edge fields such as artificial intelligence and quantum technology, and strengthen exchanges and cooperation in areas including climate change and green development, contributing the wisdom and solutions of China and Germany to global sustainable development.

    Third, Xi noted that bilateral cooperation should continue to gather momentum. He said that China is willing to share with Germany development opportunities brought by its high-level opening-up, adding that China hopes Germany will offer more policy support and facilitation for two-way investment, and provide a fair, transparent and non-discriminatory business environment for Chinese enterprises.

    Xi pointed out that facts have fully proven that partnership is the proper positioning of China-Germany and China-EU relations, and a stable and predictable policy environment is essential to ensuring bilateral cooperation.

    As major countries, he added, both sides share a common responsibility. Noting that this year marks the 50th anniversary of diplomatic relations between China and the EU, Xi said that the two sides should jointly review the successful experience in the development of China-EU relations and send a positive signal in support of multilateralism and free trade, as well as deepening openness and mutually beneficial cooperation.

    For his part, Merz said that China is one of the world’s most important countries, and Germany-China relations have seen sound development, with deepened cooperation yielding fruitful results.

    Bilateral cooperation is particularly significant in the current international landscape as both China and Germany are the world’s major economies, the German chancellor added.

    The new German government adheres to the one-China policy, and is willing to push for greater progress in their strategic partnership in a constructive and practical manner, he said.

    Germany expects to conduct closer exchanges and cooperation with China in various areas, uphold opening-up and mutual benefit, boost fair trade, safeguard world peace and jointly tackle climate change and other global challenges, Merz said.

    A healthy and steady development of EU-China relations is in the interest of both sides, and Germany is willing to play an active part in this regard, he said.

    The two leaders also exchanged views on the Ukraine crisis.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Heads of G7 Export Credit Agencies – Meeting Communiqué – 2025

    Source: United Kingdom – Government Statements

    News story

    Heads of G7 Export Credit Agencies – Meeting Communiqué – 2025

    The meeting of the heads of G7 Export Credit Agencies met in London, United Kingdom to discuss international trade.

    The leaders of official export credit agencies (ECAs) of the G7 nations (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States of America) met in London on 19-20 May, hosted by UK Export Finance, to discuss recent business trends and challenges.

    Serving national customers was at the heart of the meeting. Discussions took place on strengthening supply chains with a focus on critical and raw materials, enhancing domestic support programmes, and adapting to evolving economic and policy landscapes.

    The group also talked about the evolving ECA landscape, the challenges arising from increasing overlap of trade and development, the increasing need to focus on support in emerging markets and mobilise private finance.

    There was a constructive discussion on G7 ECA business under the Arrangement on Officially Supported Export Credits and the Group recognised the need to maintain the level playing field; transparency, relevancy and energy were key issues explored.

    We discussed how best to leverage digital innovation to improve efficiency and better meet customers’ needs. There was agreement that there is a need for investment in AI and digitalisation in order to keep pace with business.

    Acknowledging that we are operating in shifting political times, we agreed that our strength lies in our collaboration. By working together, sharing risks, and trying to resolve challenges together, we can enhance our resilience as ECAs and expand our global outreach, and in doing so we will help support economic growth and stability at home.

    A parallel Growing Professionals programme, now in its fourth year, explored practical innovations in export finance. The initiative brought together seven Growing Professionals from each organisation and aims to foster the next generation of international trade professionals.

    The next meeting is scheduled to be held in Spring 2026 and hosted by US EXIM in Washington.

    Agreed by the Heads of the G7 ECAs/Guardian Authorities.

    Atsuo Kuroda (NEXI, Japan), Bastian Kern (Export Credit Guarantees Germany), Tim Reid (UKEF), Alison Nankivell (EDC, Canada), Armel Castets (Export Finance and Trade Promotion Division, France), James C. Cruse (US EXIM), Paola Valerio (SACE, Italy).

    Updates to this page

    Published 23 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Security: Coordinated action to take down the most dangerous malware variants

    Source: Eurojust

    This week’s actions follow the largest ever operation against botnets from May 2024, Operation Endgame. This year during Endgame 2.0, the measures targeted the successor groups of malware taken down by the authorities and other relevant variants: Bumblebee, Lactrodectus, Qakbot, DanaBot, HijackLoader, Trickbot, and WarmCookie. As these variants are at the beginning of the cyberattack chain, disrupting them damages the entire ‘cybercrime as a service’ ecosystem. 

    The malware taken down this week is known as ‘initial access malware’. It is used for initial infection, helping cybercriminals to enter victims’ systems unnoticed and load more malware onto their devices, such as ransomware. 

    Due to the global nature of cybercrime, cross-border investigations are key for taking action against disruptive cybercrimes. Since 2024, Eurojust has provided essential support to ensure effective judicial cooperation. Coordination by Eurojust ensured that authorities could exchange information and align their investigative efforts. Europol supported the operation from the outset, providing coordination, operational and analytical support, cryptocurrency tracing, and facilitating the real-time exchange of information between the various partners involved.

    ©BKA, Germany, 2024.

    German, French, Dutch, Danish, British, American and Canadian authorities joined forces from 19 to 22 May to take action against the world’s most dangerous malware variants and the perpetrators behind them. In total 37 suspects were identified and international arrest warrants were obtained against 20 individuals criminally charged. Over 300 servers worldwide were taken down and 650 domains were neutralised. During the action week, EUR 3.5 million in cryptocurrency was seized making the total cryptocurrency seized during Endgame EUR 21.2 million. 

    Operation EndGame will now continue with follow up actions announced on the dedicated website from the international coalition. Several key suspects behind the malware operations are now subject to international and public appeals. The German authorities will publish eighteen of them on the EU Most Wanted list as of 23 May.

    The following authorities carried out the operation:

    • Germany: German Federal Criminal Police Office; Public Prosecutor; General’s Office Frankfurt am Main – Cybercrime Office; German Federal Office for Information Security
    • France: PPO Paris section J3 (Cybercrime Unit); BL2C (Cybercrime unit Préfecture de Police); OFAC (National Office against Cybercriminality)
    • Netherlands: Netherlands Public Prosecution Service (National Office); Netherlands Police
    • Denmark: National Special Crime Unit – NSK; NC3 | High Tech Crime
    • United Kingdom: National Crime Agency
    • United States: Federal Bureau of Investigation (FBI); U.S Department of Justice’s Computer Crime and Intellectual Property Section; U.S. Attorney’s Office for the Central District of California
    • Canada: Royal Canadian Mounted Police (RCMP)

    MIL Security OSI –

  • MIL-OSI United Kingdom: International Day of Solidarity with Political Prisoners in Belarus: Joint Statement to the OSCE, May 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    International Day of Solidarity with Political Prisoners in Belarus: Joint Statement to the OSCE, May 2025

    UK and 37 other countries call for immediate and unconditional release of political prisoners in Belarus.

    I am delivering this statement on behalf of the following participating States, who are members of the Informal Group of Friends of Democratic Belarus: Belgium, Bulgaria, Canada, Croatia, Czechia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Lithuania, Luxemburg, Montenegro, the Netherlands, Norway, Portugal, Romania, Slovenia, Spain, Sweden, Ukraine, the United Kingdom, and my own country Poland. 

    The following participating States are also joining this statement: Albania, Austria, Bosnia and Herzegovina, Liechtenstein, Malta, Moldova, North Macedonia, San Marino and Switzerland.  

    Since the death of political prisoner and activist Vitold Ashurak in prison on 21 May 2021, we mark the International Day of Solidarity with Political Prisoners in Belarus annually.  

    Since May 2021, at least seven more political prisoners have died in the regime’s captivity: Mikalai Klimovich, Ales Pushkin, Vadzim Khrasko, Ihar Lednik, Aliaksandr Kulinich, Dmitry Schletgauer and Valiantsin Shtermer. They were unjustly persecuted for their political opinions, and failed to receive adequate medical attention and care. 

    In June last year, a group of 38 participating states invoked the Vienna Human Dimension mechanism and questioned many individual cases related to prisoners’ dignity, access to medication and medical care, to legal counsel of their own choosing, to effective remedies and a fair legal trial, as well as contacts with their families. The Belarus authorities did not bring any meaningful response to these questions nor has Belarus made progress on the recommendations of either the 2020 or 2023 Moscow Mechanism reports. 

    Some of those prisoners have since then been released, after completion of their sentences or through pardons, however the arbitrary detention of citizens for exercising their human rights persists. As of May 15, 2025, VIASNA estimates that there were 1189 political prisoners in Belarus. Many of them have serious health issues, disabilities, are over the age of 60, and are suffering from mental disorders. Many of them are subjected to torture and ill-treatment, including deprivation of necessary medical assistance. The UN Committee against Torture reported that torture in these prisons is systemic, habitual, widespread and deliberate with a pattern of impunity for perpetrators. 

    This is the day to remember them all. A day to reiterate our call for the Belarusian authorities:  

    • to stop repressing individuals for exercising their rights to freedom of expression, to freedom of association and to peaceful assembly;  

    • to release all political prisoners immediately and unconditionally, and to ensure their rehabilitation.  

    This is also the day to express our solidarity with relatives and friends of political prisoners, who are subject to political and administrative repression in Belarus and in exile, as part of a wider brutal crackdown on opposition figures, human rights defenders, civil society representatives, journalists and other media actors, and other citizens who dare voice any opposition or dissent.  

    In the face of this disregard of OSCE principles and commitments by the Belarusian authorities, we will continue to support the Belarusian people’s aspiration for a free, democratic and independent Belarus.

    Updates to this page

    Published 23 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Breaking News: Strong and Stable China-Germany Relations Serve the Interests of Both Countries and Meet the Expectations of Various Sectors in China and Europe – Xi Jinping

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BEIJING, May 23 (Xinhua) — Chinese President Xi Jinping on Friday said strong and stable relations between China and Germany serve the interests of both countries and meet the expectations of various sectors in China and Europe.

    Both countries should expand cooperation in cutting-edge areas such as artificial intelligence and quantum technologies, he said during a telephone conversation with German Chancellor Friedrich Merz. –0–

    MIL OSI Russia News –

  • MIL-OSI China: Xi says China hopes Germany will provide fair, transparent and non-discriminatory business environment for Chinese enterprises

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

    Xi says China hopes Germany will provide fair, transparent and non-discriminatory business environment for Chinese enterprises

    BEIJING, May 23 — Chinese President Xi Jinping on Friday said that China hopes Germany will provide fair, transparent and non-discriminatory business environment for Chinese enterprises, and called on China and EU to send a positive signal of safeguarding multilateralism and free trade, and deepening open and mutually beneficial cooperation.

    Xi made the remarks during his phone call with German Chancellor Friedrich Merz.

    MIL OSI China News –

  • MIL-OSI China: Xi says sound, stable China-Germany relationship serves both countries’ interest, meets expectations of various sectors in China, Europe

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

    Xi says sound, stable China-Germany relationship serves both countries’ interest, meets expectations of various sectors in China, Europe

    BEIJING, May 23 — Chinese President Xi Jinping said on Friday that a sound and stable China-Germany relationship serves both countries’ interest, and meets the expectations of various sectors in China and Europe.

    The two countries should expand cooperation in cutting-edge fields such as artificial intelligence and quantum technology, Xi said during his phone conversation with German Chancellor Friedrich Merz.

    MIL OSI China News –

  • MIL-OSI Global: US solar manufacturers lag skyrocketing market demand

    Source: The Conversation – USA – By Mojtaba Akhavan-Tafti, Associate Research Scientist, University of Michigan

    Americans continue to want solar energy. AP Photo/Sue Ogrocki

    U.S. consumer demand for renewable energy continues to grow, with more solar panel capacity installed in 2024 than in 2023, which saw more than in 2022. But U.S. trade policy is in flux, and high tariffs have been imposed on imported solar panels, which may cause shortages.

    I am a scholar who studies the Sun, as well as an entrepreneur who is working to harness its power here on Earth by creating new designs for generating solar electricity. As part of that effort, I’ve studied market trends and manufacturing capabilities in the U.S. and abroad. Right now, U.S. manufacturers do not produce enough solar panels to meet the nation’s demand, but industry investments and federal tax incentives have been making progress, though recent federal moves have created uncertainty.

    In 2024, U.S. installers put up enough solar panels to generate 50 gigawatts of electricity – enough to power New York City for a year.

    U.S. manufacturers made only a small fraction of that – 4.2 GW of solar modules in the first half of 2024. That was a big boost, though – a 75% increase compared with the same period in 2023. And the prices were roughly three times the cost of imports.

    A look at recent imports

    In 2024, the U.S. imported far more panels than the country needed, suggesting developers may be stockpiling panels for future projects.

    Most of those imported panels were made in Asia, particularly Malaysia, Vietnam and Thailand. In fact, nearly all of the U.S.-made panels used at least some components from overseas. China currently makes about 97% of the world’s supply of photovoltaic wafers, which are building blocks of solar panels.

    The effects of proposed U.S. trade policies on the solar industry remain unclear. Through 2024, manufacturing continued a yearslong ramp-up to take advantage of government policies favoring domestic manufacturing. And imported panels seem slated to suffer from ever-increasing tariffs, which drive up costs.

    Domestic production rises

    Since 2010, U.S. solar panel production has increased about eightfold. But U.S.-made panels are more expensive than imported alternatives. In 2024, U.S.-made panels typically cost 31 cents per watt, but imported panels, even including tariffs that existed before President Donald Trump’s second term, cost about one-third of that: 11 cents per watt.

    But domestic manufacturers are bringing costs down by ramping up production while relying on the government to maintain or increase tariffs on imports, which may make U.S. panels more competitive domestically in the future.

    Reliance on overseas sources

    Despite that increase in domestic production, U.S. demand for solar panels has grown even faster. To meet demand, the U.S. imports a substantial portion of its solar photovoltaic modules.

    Tariffs, including a 30% tariff on solar cells and solar panels starting in 2018, aimed to boost domestic manufacturing.

    But those tariffs and falling global prices made solar installations more costly in the U.S. than in the rest of the world. The average global cost of installed solar systems dropped from $1.15 per watt in 2012 to $0.72 per watt in 2016, nearly half that of U.S. installations.

    The 2018 tariffs, as well as earlier rounds in 2012 and 2014, have shifted the source of U.S. imports of solar panels – from China and Taiwan to Malaysia and South Korea. Manufacturers are also building solar panels in Singapore and Germany to maintain access to the U.S. market. And Chinese companies are even investing in U.S. solar manufacturers to take advantage of federal incentives and avoid tariffs.

    New tariffs emerge

    Trump’s proposal for new tariffs on foreign-made solar goods, including panels and components, particularly target Chinese-owned companies in Southeast Asia.

    They could include a potential 375% tariff on Thai products – nearly quadrupling prices – and a 3,500% tariff on products from Cambodia.

    In contrast, U.S.-made solar panels will be cheaper. But a reduced supply of solar panels will raise prices even of domestic-made panels, at least until U.S. manufacturing can catch up with the demand. Some developers have begun to delay or cancel solar installations to address rising costs.

    Domestic investment

    Due in large part to the Biden administration’s Inflation Reduction Act, enacted in 2022, the U.S. solar panel industry has seen significant investments.

    Since the law’s enactment, more than 95 GW of manufacturing capability have been added across the solar supply chain in the U.S., including new facilities that in a year can construct enough solar panels to produce nearly 42 GW, beyond existing manufacturing levels. This growth in manufacturing capabilities is largely located in Texas and Georgia.

    Still, the new administration’s shifting priorities and trade policies make the landscape uncertain. Before Trump began discussing various solar-related trade policies, the industry projected it would install an average of 45 GW of solar panels every year for the next decade.

    Mojtaba Akhavan-Tafti owns shares in APT Solar Solutions Inc. in Ann Arbor, Michigan. He receives funding from public and private organizations to develop and commercialize three-dimensional solar modules.

    – ref. US solar manufacturers lag skyrocketing market demand – https://theconversation.com/us-solar-manufacturers-lag-skyrocketing-market-demand-256944

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Breaking: Xi Jinping hopes Germany will provide fair, transparent and non-discriminatory business environment for Chinese businesses

    Translation. Region: Russian Federal

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

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

    BEIJING, May 23 (Xinhua) — Chinese President Xi Jinping on Friday expressed hope that Germany will provide a fair, transparent and non-discriminatory business environment for Chinese businesses, and called on China and the EU to send a positive signal of upholding multilateralism and free trade and deepening open and win-win cooperation.

    These words were spoken during a telephone conversation between Xi Jinping and German Chancellor Friedrich Merz. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: A Changed Global Landscape: Policy Priorities in CESEE

    Source: IMF – News in Russian

    Speech by Alfred Kammer, Director, European Department of the IMF — Slovenia

    May 23, 2025

    It is a great pleasure to be with you in Ljubljana.

    Let me begin by setting the stage for what I hope will be an insightful discussion on policy options in the presence of geoeconomic shocks and uncertainty.

    I will focus on Central, Eastern and Southeastern European (CESEE) countries.  

    After a respectable recovery last year, we downgraded growth for 2025 and 2026 across Europe  

    Heightened uncertainty and trade policy volatility have been the main factors.  And the latest data releases from Q1 2025 are so far in line with our forecast.

    The downgrade for the CESEE region[1] has been more sizeable than for advanced Europe: from over 3 percent in 2025 and 2026 to 2.4 and 2.7 percent respectively.

    The larger impact is primarily due to a comparatively larger manufacturing sector. The growth revision would have been even larger if not for the German infrastructure package and an acceleration of Europe wide-defense spending

    Inflation in CESEE countries meanwhile is coming down somewhat faster. But, as the chart shows, inflation rates will remain above targets for some time. Persistent services inflation and lagged effects of still high wage growth are key drivers – a point I will return to later as a risk to competitiveness.

    In my remarks today, I will address two points: (i) how the changing global landscape is affecting CESEE countries and (ii) what the key policy priorities are.

    Let me give a summary of my key points

    • What do we know so far about the effects of trade disputes including via trade diversion?

    In a nutshell, the impact across the CESEE regions varies widely. Some of the most US-tariff-exposed countries, namely Hungary and Slovak Republic and to a lesser extent the Czech Republic, are in the constituency.

    The tariffs between the US and China have just been lowered from very extreme levels, but they remain high and could increase again. Economic spillovers could be large for some specific sectors, even though our preliminary assessment is that the trade diversion effects should be manageable overall.

    • What can policymakers do to navigate a more uncertain and volatile period?

    Primarily, changes are permanent. Businesses and households will need to adapt to these. A principle-based approach can help lessen the impact.  

    • First, maintain trade openness as much as possible. Protectionism will hurt inward investment, lower investment further and bring down productivity and income growth.
    • Second, stay the course on sound macroeconomic policies. In times of uncertainty, markets will scrutinize fundamentals. Durable policies can limit increases in risk premia. This means that central banks should remain cautious on monetary normalization and governments need to keep an eye on fiscal sustainability.
    • Third, generate growth through traditional means: domestic structural reforms. The size of untapped gains from domestic structural reforms is surprisingly large.
    • The question here is how the CESEE region can overcome political constraints. In my final observation I will discuss how the EU budget can play a catalyzing role.

    I will highlight two channels:

    • Direct exposure to US tariffs
    • Potential effects of trade diversion from US-China trade dispute

    The CESEE region’s integration into global value-chains and trade linkages creates exposure to shifting trade dynamics.

    The EU has sizable direct trade linkages with China and the US (LHS), and linkages by individual CESEE countries to the US are substantial.

    Exposures are especially large in the Slovak Republic and Hungary. Exports to the US (primarily cars, car parts, batteries, and in the case of Hungary electronics) account for about 3 per cent of GDP in 2024.

    Czechia and Hungary have also large export positions to the US via smartphones and computers exports. For the time being, tariffs on these items have been exempted per the announcement made on April 11.

    Any increase in tariffs would have substantial dampening effects on growth.

    Indirect effects via supply chains will also become important tailwinds. In a 2024 IMF study, we show that an increase in EV imports from China could have significant GDP effects in the range of 1-1½ percent over 5 years via the supply chains in CESEE countries heavily reliant on the automotive sector.  A slowdown in Germany’s automotive sector has about a 5-10 times larger impact in percent of GDP in Slovakia and Hungary given their larger share of the sector relative to Germany.

    If US-China trade tensions persist, multiple channels of trade diversion could come into play.

    EU imports from China could increase, U.S. companies could try to find new export destinations including in Europe, and European firms could seek to find new export opportunities in the U.S. and China as a result of high China-U.S. tariffs.

    Finally, competition on third-country markets could increase as countries look for new export markets. CESEE countries could be innocent bystanders. For instance, Turkish businesses could experience increased competition in third markets reducing margin or market shares.

    We have estimated the potential size of trade diversion from China using a partial equilibrium approach.

    Our preliminary estimates from April 8 tariff announcements[2] for the EU are for higher imports from China of around 0.25 percent of EU GDP in the near term.[3] The estimates are similar to ECB estimates discussed in their latest economic Bulletin. The 90-day rollback of most bilateral tariffs imposed since April 2 announced by the US and China on May 12 implies lower numbers, but better to be prepared for the worst.

    Trade diversion would also affect inflation. Increased import competition would likely lower final prices. Headline inflation could be reduced by 20 basis points in 2026.

    The economic effects for consumers and producers are likely mixed. Lower final goods prices would benefit consumers. Similarly, lower imported intermediates could also benefit European firms by reducing input costs. But trade diversion means also a rise in competition and in specific sectors such as consumer electronics or transportation equipment, adjustment effects could be large.

    With all that said, the aggregate size of trade diversion effects appears manageable, although the impact could be large in individual countries and sectors.

    Let me turn to policy priorities.

    Let me now say a few words on what the CESEE region can do in the face of tariffs.    

    • First, Europe—and everyone—needs more trade, not less. The EU as well as CESEE should continue its open trade policy and expand its network of trade agreements.  
    • Second, we must accept that the global trade regime has changed. This means that any support to mitigate tariff or trade diversion effects should remain temporary, and targeted. 

    Support measures cannot substitute for differences in the underlying fundamentals. In particular, the recent appreciation of CESEE currencies in unit-labor-cost adjusted terms is a concern.

    What can policymakers do in the short term?

    In the current global environment, navigating uncertainty is crucial.

    In the short run, governments should aim to retain macroeconomic stability through credible and sustainable macroeconomic policies and build resilience. 

    Starting with monetary policy, central banks need to remain focused on durably reaching price stability targets.  

    • In several large CESEE countries—including Hungary—inflation is slowing, but is still above targets.   
    • Central banks should ease cautiously. We advise caution because core inflation in the CESEE region remains higher than hoped for, and inflation expectations are more responsive to current inflation levels.   

    Still high wage growth requires close attention. Increases have outpaced productivity and are contributing to higher inflation persistency. High labor costs also pose a risk to CESEE’s competitiveness. 

    Our fiscal advice remains broadly unchanged. For many countries, rebuilding fiscal buffers is still a priority.  

    • The challenge is how to manage rising long-term spending pressures from aging, healthcare, climate, and now higher defense spending. 
    • Some countries can accommodate temporary increases in priority spending while keeping debt sustainability in mind.  
    • But for many CESEE countries the space is limited. This means they will have to undertake smart adjustments: (i) make public services more efficient and programs better targeted; (ii) reallocate spending priorities away from low priority areas, (iii) and boost fiscal revenues. In many cases, this can be done without raising tax rates by closing loopholes and more efficient administration. 

    We continue to have concerns about Europe’s medium-term outlook: growth is low and there are rising spending needs:   

    • Labor supply is dwindling because of aging. 
    • Investment has been slowing. 
    • And Europe’s productivity growth has been very low over the last two decades. 

    This makes meeting fiscal pressures increasingly difficult. 

    • Spending needs are expected to rise significantly over the next decades, for advanced economies by 5¾ percentage points and emerging economies by 8 percentage points of GDP.  
    • In the CESEE region, energy-related investments needs are urgent and very large. 
    • And across the region, defense spending is on the rise.  

    This brings us to my final point which is how CESEE countries could generate medium-term growth.

    Domestic structural reforms, while often overlooked, provide a large untapped source of European growth potential. 

    • In a forthcoming study, we find that comprehensive national reforms could raise real GDP levels by about 5 percent in advanced economies and between 6.6 and 9.3 percent in the CESEE region. 
    • These are sizeable gains and could be an important growth antidote to the poisonous effects of uncertainty and volatile policy disputes.

    These reforms would remove inefficiencies at home and complement the earlier discussed EU-wide reforms. Specifically: 

    • Domestic labor market and skill-upgrading reforms top the priority list in terms of their macroeconomic
    • Fiscal-structural reforms and lower cost of business regulations would provide another substantial impetus.  
    • Reducing corruption and inefficiencies through governance reforms is particularly important in several CESEE countries. 

    Successful implementation of these reforms will require political will, and in some cases, also capacity building.  

    Overcoming the reform inertia is “the challenge” of Europe.

    Let me conclude with a few observations on how to overcome this obstacle.

    We think the EU budget could play a catalyzing role. Recent initiatives—such as the Recovery and Resilience Facility (RRF)—have made important strides in strengthening policy performance. The next Multiannual Financial Framework (MFF) for 2028-2034 should build on this momentum, further embedding a performance-based approach, especially in areas where current incentives are weak, but outcomes depend heavily on effective effort.

    This is particularly relevant for pre-allocated funds tied to national plans, where member states design and implement policies. In such cases, stronger performance incentives can help ensure that investments yield meaningful results.

    To maximize the impact of EU financing, the budget could reward projects that complement EU-level objectives—for example, national reforms like streamlining permitting processes for local distribution networks that connect with cross-border energy infrastructure.

    At the same time, policy coherence across all levels of government is essential. While the EU budget can offer strategic direction and alignment incentives, successful implementation ultimately depends on ownership at national, regional, and local levels. The EU budget can set incentives, but decisions need to be made at home.

    Let me conclude here …

    …and leave with a slide on our key messages.

    I now look forward to hearing from you. Thank you!

    [1] Excluding Belarus, Russia, Türkiye and Ukraine.

    [2] “April 8 tariffs” refers to the tariff increases between the US and China announced just before the 90-day pause on April 9.

    [3] This figure decreases to 0.09 percent with the May-12 tariffs

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/22/sp052325-ak-a-changed-global-landscape-policy-priorities-in-cesee

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Security: International Investigation Leads to Shutdown of Ransomware Group

    Source: US FBI

    “Radar/Dispossessor” servers and domains successfully dismantled

    On August 12, FBI Cleveland announced the disruption of “Radar/Dispossessor”—the criminal ransomware group led by the online moniker “Brain”—and the dismantling of three U.S. servers, three United Kingdom servers, 18 German servers, eight U.S.-based criminal domains, and one German-based criminal domain.

    Since its inception in August 2023, Radar/Dispossessor has quickly developed into an internationally impactful ransomware group, targeting and attacking small-to-mid-sized businesses and organizations from the production, development, education, healthcare, financial services, and transportation sectors. Originally focused on entities in the United States, the investigation discovered 43 companies as victims of the attacks, from countries including Argentina, Australia, Belgium, Brazil, Honduras, India, Canada, Croatia, Peru, Poland, the United Kingdom, the United Arab Emirates, and Germany. During its investigation, the FBI identified a multitude of websites associated with Brain and his team.

    Ransomware is a type of malicious software, or malware, that encrypts data on a computer making it unusable. A malicious cybercriminal holds the data hostage until the ransom is paid. If the ransom is not paid, the victim’s data remains unavailable. Cybercriminals may also pressure victims to pay the ransom by threatening to destroy the victim’s data or to release it to the public.

    Radar Ransomware follows the same dual-extortion model as other ransomware variants by exfiltrating victim data to hold for ransom in addition to encrypting victim’s systems. Simply, the ransomware identifies and attacks new victims and, re-victimizes current victims.

    Radar/Dispossessor identified vulnerable computer systems, weak passwords, and a lack of two-factor authentication to isolate and attack victim-companies. Once the criminals gained access to the systems, they obtained administrator rights and easily gained access to the files. The actual ransomware was then used for encryption. As a result, the companies could no longer access their own data. Once the company was attacked, if they did not contact the criminal actor, the group would then proactively contact others in the victim company, either through email or phone call. The emails also included links to video platforms on which the previously stolen files had been presented. This was always with the aim of increasing the blackmail pressure and increasing the willingness to pay.

    Finally, the compromise was announced by the attackers on a separate leak page and a countdown set until public release of the victim data if no ransom was paid.

    As ransomware can have many variants, such as this case, the total number of businesses and organizations affected is yet to be determined. The FBI encourages those with information about Brain or Radar Ransomware—or if their business or organization has been a target or victim of ransomware or currently paying a criminal actor—to contact its Internet Crime Complaint Center at ic3.gov or 1-800-CALL-FBI. Your identity can remain anonymous.

    The investigation and joint takedown were conducted in conjunction with the the U.K.’s National Crime Agency, Bamberg Public Prosecutor’s Office, Bavarian State Criminal Police Office (BLKA), and U.S. Attorney’s Office for the Northern District of Ohio.

    MIL Security OSI –

  • MIL-OSI: VIRTUNE ACCELERATES EUROPEAN EXPANSION WITH XRP ETP DEBUT ON DEUTSCHE BÖRSE XETRA

    Source: GlobeNewswire (MIL-OSI)

    Frankfurt, 23 May 2025 – Swedish regulated crypto asset manager Virtune brings its flagship Virtune XRP ETP to Germany’s premier trading venue Deutsche Börse Xetra, extending its regulated digital asset offerings to Europe’s largest economy.

    With strong traction and consistent inflows across the Nordic region – driven by growing interest and adoption of crypto – expanding into Germany through the listing on Xetra marks a strategic milestone for Virtune. Since its inception in May 2023, Virtune has experienced rapid growth in the Nordics, listing 16 products and attracting over 140,000 investors in just two years.

    The key success factors have been Virtune’s educational focus, transparent market approach, and regulated status. This expansion not only responds to growing investor interest but also strengthens Virtune’s presence across the European market.

    Virtune XRP ETP is a 100% physically backed investment product, providing investors with secure, regulated, and easy exposure to XRP, one of the globally leading crypto assets. Virtune XRP ETP was initially listed on Nasdaq Stockholm in Sweden in July 2024 and has since attracted over 50,000 investors and more than USD 125 million in assets under management, making it the most popular ETP in Virtune’s product suite. Coinbase serves as the product’s crypto custodian, providing institutional-grade security with the underlying XRP held in cold storage.

    Virtune has actively listed ETPs on Nasdaq Stockholm, Nasdaq Helsinki, and other regulated European markets. Its goal is to provide seamless access to crypto assets through regulated ETPs, with a strong focus on transparency, education, and investor protection – ultimately driving crypto adoption among both retail and institutional investors.

    Christopher Kock, CEO of Virtune:

    “We are proud to launch our XRP ETP on Xetra and expand our footprint in Germany. XRP has long been one of the most actively traded and recognized digital assets globally, and our physically backed ETP provides a robust and secure way to gain exposure to it. This listing underscores our commitment to broadening access to crypto assets across Europe.”

    Key Product Information:

    – Exposure to XRP
    – 100% physically backed by XRP
    – 1.49% annual management fee

    Virtune XRP ETP:

    – Trading Currency: EUR
    – First Day of Trading: Friday, 23rd of May 2025
    – Xetra Exchange Ticker: VRTX
    – Bloomberg Ticker: VIRXRP
    – ISIN: SE0021486156
    – WKN: A4AKW5
    – Exchanges: Deutsche Börse Xetra, Nasdaq Stockholm, Nasdaq Helsinki

    For further inquiries, please contact:
    Christopher Kock, CEO & Member of the Board of Directors
    Mobile: +46 70 073 45 64
    Email: christopher@virtune.com

    About Virtune AB (Publ):

    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges. With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at www.virtune.com.

    The MIL Network –

  • MIL-OSI Russia: G7 finance ministers call for solidarity in tackling global challenges

    Translation. Region: Russian Federal

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

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

    OTTAWA, May 23 (Xinhua) — Finance ministers and central bank governors of the Group of Seven (G7) countries called for unity to address current global challenges on Thursday following their annual meeting in Banff, Canada.

    According to a press release from the Department of Finance Canada, a communiqué was issued following the meeting, stressing the importance of G7 unity in the face of complex global challenges.

    The meeting of finance ministers and central bank governors took place ahead of the June G7 summit in Kananaskis, Alberta, Canada. The participants had productive and frank discussions on the global economy, unsustainable global imbalances, development assistance and productivity, the press release said.

    “Canada approaches this 50th meeting with clear priorities, such as stimulating growth and restoring stability to the global economy,” said Finance Minister Francois-Philippe Champagne.

    The G7 is an informal grouping of major global economies designed to coordinate responses to global crises. It includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

    The Group of Seven finance ministers and central bank governors meet annually to discuss key economic policy issues. –0–

    MIL OSI Russia News –

  • MIL-OSI Europe: Hydrogen’s pressure fix

    Source: European Investment Bank

    Decarbonising heavy transport is tricky. Electric buses and trucks are expensive, and they take a long time to charge.

    Hydrogen could solve the problem. It’s easy to transport and can refuel a heavy vehicle in minutes. But hydrogen, the lightest of elements, has a low energy content, so it must be compressed to fit enough of the gas into a vehicle to run it. The problem: hydrogen is highly flammable, and compression heats it up.

    “You need to build up the pressure very carefully, because you can’t just put highly pressurised gas into a tank,” says Herman Roose, chief financial officer at Resato Hydrogen Technology, a Dutch company that has been working on hydrogen refuelling since 2016. “Without the right approach, it will heat up to over 100 degrees, which is very dangerous.”

    High pressure is what makes hydrogen a viable fuel. The light and airy gas must be compressed to 700 bars for a car and about 350 bars for a truck, although new heavy vehicle technologies may require 700 bars. The overall system needs to maintain a pressure of 950 bars, roughly equivalent to the pressure in the deepest parts of the ocean. “That’s not easy,” Roose says.

    The company’s technology pressurises the gas without having the temperature rise too fast. If it does, the pumping system shuts off. Pulling up to a petrol station and seeing “out of order” on a pump isn’t a big deal when you can just drive a couple kilometres to the next station. Hydrogen refuelling stations, however, will be far and few between – about 200 kilometres apart on major roads, according to EU plans.

    Resato sells its system directly to big station operators, like Total of France and Hypion of Germany. The whole process fits in a shed-like structure that sits above ground and pumps compressed hydrogen to fuelling points with specialised nozzles for cars, trucks and buses.

    “A lot of operators buy components for hydrogen refuelling, put them together and hope the system works,” Roose says. “But we have our own fully integrated and owned technology.”

    The European Investment Bank signed a €25 million venture debt facility with Resato Hydrogen in January. The financing was made possible by an InvestEU guarantee. 

    MIL OSI Europe News –