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Category: Eurozone

  • MIL-OSI Economics: ICC expands Principles for Sustainable Trade Finance to include social impact and supply-chain solutions

    Source: International Chamber of Commerce

    Headline: ICC expands Principles for Sustainable Trade Finance to include social impact and supply-chain solutions

    Launched during the Financing for Future Development conference taking place in Seville, Spain, the updated Principles feature new Principles for Social Trade Finance (PSoTF) that enable lenders to classify facilities whose proceeds directly benefit vulnerable or underserved populations and align with the Social Loan Principles and the United Nations Sustainable Development Goals. Additionally, the update introduces the ICC Principles for Sustainability-Linked Supply-Chain Finance (PSL-SCF), providing detailed guidance on KPI selection, target calibration, monitoring and de-classification across all parties involved. This gives buyers and their suppliers a consistent, incentive-based pathway to embed decarbonisation and social metrics in payables-finance programmes.

    Provide your feedback: Industry consultation now open until 5 September 2025

    ICC has launched a public consultation inviting feedback from stakeholders across the trade finance ecosystem on the new components (the PSoTF and PSL-SCF) of the Principles. The survey, available here, is open until 5 September 2025, and is essential to ensure the final framework balances technical rigor with practicality for users operating across diverse geographies and product sets. ICC expects to formally ratify the document in Q3/4 of 2025.

    Contact us: For more information on the Principles for Sustainable Trade Finance or to submit detailed comments, please reach out to:

    More insights

    MIL OSI Economics –

  • MIL-OSI United Nations: International Financial Architecture Should Ensure ‘Voices of All Countries Are Represented’, Says Deputy Secretary-General, at Sevilla Round Table

    Source: United Nations General Assembly and Security Council

    Following are UN Deputy Secretary-General Amina Mohammed’s remarks at the opening of the multi-stakeholder round table, in Sevilla, Spain, today:

    One overarching message has come out strongly from this morning’s opening segment:  sustainable development has slowed and the assumption of future progress can no longer be assured.

    Countries across the globe are struggling to fulfil their development aspirations, exacerbated by an increasingly challenging global environment.

    As many speakers have stressed, to overcome this crisis we need large-scale investments in sustainable development.  That must be combined with the reset of systems and governance that puts countries in the driving seat to implement their national plans.

    Building on the Addis Ababa Action Agenda, the Sevilla Commitment sets out a renewed impetus for a financing framework to deliver on the Sustainable Development Goals (SDGs).

    The multistakeholder round tables, starting this afternoon, are an opportunity for leaders, ministers and other stakeholders to propose how they plan to implement the Sevilla outcome, across six priority areas.

    First, we must explore how to strengthen the mobilization of domestic resources.

    This means all countries raising revenue ratios to at least 15 per cent, fighting illicit flows and better aligning fiscal systems with sustainable development.  This will require domestic action combined with international support.  I am excited to hear your perspectives in the upcoming session this afternoon.

    Second, we must consider how we can fully tap the potential of private sector investment and innovation for sustainable development.

    The Sevilla Commitment puts the focus of private-capital mobilization on both quantity and quality.  I look forward to hearing how public and private actors intend to work together — to mobilize private investment at scale and to achieve the greatest impact.

    Third, amid falling aid budgets, we need to work towards a revitalized and reformed development cooperation architecture.

    An architecture that facilitates a shift from development assistance to investing in development.  That counters growing fragmentation.  And that incorporates all actors while placing developing countries at the centre.

    Fourth, with the global trading system under threat, we must send a strong signal — that supports the role of trade as an engine for development.  The Sevilla Commitment puts forward actions to leverage trade’s role, particularly for the most vulnerable countries, and including in strategic markets — such as critical minerals.

    Fifth, the Sevilla Commitment provides an ambitious set of actions to remake the debt architecture.  As one of the most critical deliverables of this conference, I look forward to hearing how stakeholders will urgently take forward these actions, as a priority.

    It is imperative that we take steps to ease the burden of debt service on struggling economies.  That we expedite the restructuring process when debt crises occur.  And that we prevent crises from unfolding in the first place.

    Last but not least, we must explore reform of the international financial architecture.  We need an architecture that is both effective and inclusive, in which the voices of all countries are represented.

    The Seville Commitment builds on the Pact for the Future, agreed by Heads of State at the UN General Assembly last September, and makes strides towards a more equal and just system for all countries.

    I commend you for coming to share your perspectives on transforming these ambitious commitments into reality, including within your countries. And I look forward to the discussions to follow.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: Private Sector Partners Bring More Than Capital, ‘They Bring Creativity, Agility, Scale’, Deputy Secretary-General Tells International Business Forum

    Source: United Nations General Assembly and Security Council

    Following are UN Deputy Secretary-General Amina Mohammed’s remarks at the high-level session of the International Business Forum, in Sevilla, Spain, today: 

    It is a privilege to join you today at this pivotal moment for the future of development finance.

    Sadly, the world faces a sustainable development crisis.  Trade barriers are growing.  Aid budgets are shrinking.  Macroeconomic risks are mounting.  Debt burdens are dragging down growth.  Climate shocks are hitting harder and more often.  Development finance is at a critical inflection point.

    Official development assistance (ODA), long a cornerstone of international solidarity, declined by 7 per cent in real terms last year.  And further cuts are already on the table.

    But, the real picture is even starker.  Much of what is counted as ODA today is being redirected to cover domestic priorities, not long-term Sustainable Development Goals (SDG) investments.  At the same time, the SDG financing gap has ballooned to $4 trillion a year.

    Yet, amid this sobering reality lies an opportunity:  An opportunity to reimagine development finance for the world we live in now.  To move from a model built on assistance, to one driven by purpose and partnership.  From international assistance, to strategic, sustainable investment.

    In this new vision, public finance, national and international, remains essential.  Especially in sectors where market incentives are weak, but human needs are immense, like education, health, social protection.

    But public finance alone cannot carry the weight.  It must be used to unlock and leverage private investment, at scale and with speed.  The question we need to answer is clear:  What will it take for private capital to flow where it is most needed?

    The outcome document of the fourth International Conference on Financing for Development, the “Sevilla Commitment”, puts forward a compelling action agenda that seeks to answer this question.

    First, we need an enabling business environment, supported by strong institutions, policy coherence and investment pipelines.

    Second, we need better blended finance vehicles that deliver sustainable development impact and align with developing countries’ national priorities.  This requires standardizing blended finance with replicable and scalable structures, a ready pipeline of bankable projects and more transparency in the development outcomes of transactions.

    Third, we need financial innovation.  Equity instruments.  Auction mechanisms.  Creative tools that allow public and private actors to share risk and reward more fairly.

    Fourth, we must scale up aggregation platforms that expand catalytic capital and reduce transaction costs by pooling resources from international financial institutions.

    Fifth, it is time to reassess prudential regulations that may unintentionally discourage long-term investments in developing countries. We need to engage with regulators to ensure risk is not mispriced and regulation enables greater use of risk-sharing tools.

    Let’s be clear:  we must dramatically expand our sources of development capital, and we must do so urgently and intentionally.  This is why the United Nations calls on all actors across the investment ecosystem to join us in a long-term, collaborative effort to reshape development finance.

    At the UN, we are taking concrete steps to strengthen partnerships to unlock capital for sustainable development.  Platforms such as the Global Investors for Sustainable Development Alliance are bringing together private investors, foundations, policymakers and leaders across the development finance spectrum.  These leaders can shape sustainable finance frameworks, identify investment barriers and pilot innovative solutions.

    Working together, we can coordinate action, amplify impact and accelerate the global shift towards long-term, responsible development finance. Private sector partners bring more than capital.  They bring creativity, agility and scale.  They can power the transition to green energy, accelerate digital inclusion and revolutionize service delivery.

    Philanthropic partners are also uniquely positioned to take risks others cannot, test innovations and address gaps that markets and Governments may not reach.  They can back new models and ideas in early stage projects or help unlock larger flows of investment by building proof points and trust.

    Above all, our financing systems must work for those who have historically been excluded, and on a practical level that means that means removing structural barriers that keep capital out of the hands of women-led businesses, youth innovators and underserved communities.

    This is not about making tweaks here and there.  It is about rethinking the fundamentals.  The current financial system was not built for today’s world.  Let alone tomorrow’s.  We need a system that allocates capital not only by profit, but by purpose; not only by returns, but by impact.

    The next chapter of development finance is not yet written.  But, it must be a shared story written by all of us and accountable to all people.  So, let’s seize this moment and step into this new era not as donors or beneficiaries, but as equal partners, and deliver on the promise of sustainable development.  On behalf of the United Nations, I thank you for your leadership, your ideas and your resolve.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: ‘Break Cycle of Debit’ Urges Deputy Secretary-General at Financing for Development Conference Special Event, Calling for Common Agenda

    Source: United Nations 4

    Following are UN Deputy Secretary-General Amina Mohammed’s remarks at the special event “Forging a Common Agenda to Achieve Debt Sustainability in Developing Countries”, in Sevilla, Spain, today:

    Ten years after countries adopted the Sustainable Development Goals (SDGs), development faces formidable headwinds:  slowing global growth, the threat of a trade war and repeated global shocks from climate and conflict.

    But, the most unsettling challenge facing developing countries is the debt crisis.  Borrowing is critical for development.  It provides a means for Governments to invest boldly in a better future for their people.

    It is especially critical at a time when all countries are required to undertake one-off generational investments to green their economies and build twenty-first-century digital infrastructure.

    But, today, borrowing is not working for development. Over two thirds of low-income countries are either in debt distress or at high risk of it; 3.4 billion people live in countries that spend more on interest payments than on health or education.

    The debt crisis is a silent crisis in two respects.  First, the crisis doesn’t impact the lives or economies of those in advanced economies.  The immediate effects of the crisis are contained and do not threaten the stability of global financial markets.

    Second, among global policymakers, there is a striking reluctance to acknowledge the crisis for what it is, perhaps driven by the increasingly unlikely hope that the problem will solve itself if interest rates came down.

    However, I’m pleased to report that, thanks to many of you, this is now starting to change.  Over the last several months, we’ve seen the launch of several bold initiatives — the African Leaders Debt Relief Initiative, the Expert Review on Debt, Climate and Nature, the Jubilee Commission and the Secretary-General’s Expert Group on Debt — that are making crisis increasingly hard to ignore.

    And through the Sevilla Conference and its outcome document, and the ongoing work of the South African Group of 20 (G20), this crisis is finally being seen and heard.  These efforts have laid bare the shortcomings of our debt architecture, and the harms they are causing in developing countries.

    They also identify actions that can arrest the debt crisis and enable debt to fulfil a supportive role in countries’ development success.  Now that we are finally getting the attention of policymakers, we still face the challenge of compelling action.

    Let me propose three things we, as a community, must do moving forward.

    First, consolidate our message and asks.  We have a rich set of analyses and recommendations but must find ways of bringing these together.  This includes borrowing language and recommendations from the Seville outcome document and bringing it forward into the outcome documents of this year’s G20 and the thirtieth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP30).

    Second, everyone must do their part.  For instance, Spain has shown outstanding leadership on promoting debt swaps and debt pauses.  The UN stands ready to advance member states’ call for the creation of a platform for borrowers to share experience, build capacity and coordinate approaches and strengthen borrower countries’ voices.

    Third and finally, we must continue to expand our coalition. This includes winning the support of the leading board members at the international financial institutions.  It also means mobilizing civil society, as envisaged by the Jubilee campaign.

    With these three steps, I believe we can break the cycle of debt together and usher in a new era of debt sustainability for all countries.

    MIL OSI United Nations News –

  • MIL-OSI Security: U.S., European leaders endorse collective defense tactics at strategy symposium

    Source: United States EUROPEAN COMMAND

    U.S., European leaders endorse collective defense tactics at strategy symposium

    U.S. Air Force Lt. Gen. Steven Basham, U.S. European Command deputy commander, speaks with members of the European Strategy Conference and Workshop at Ramstein Air Base, Germany, on Feb. 1, 2024. Nearly 750 military and civilian leaders from more than 30 Allied and partner nations took part in the event to discuss the impacts of malign influence in the Euro-Atlantic, and considerations to implement and execute NATOS’s regional plans to enhance European security and stability.

    U.S., European leaders endorse collective defense tactics at strategy symposium

    U.S. Army Gen. Christopher Cavoli, commander of U.S. European Command and Supreme Allied Commander Europe, gives opening remarks during the European Strategy Conference and Workshop at Ramstein Air Base, Germany, on Jan. 31, 2024. Nearly 750 military and civilian leaders from more than 30 Allied and partner nations took part in event to discuss the impacts of malign influence in the Euro-Atlantic, and considerations to implement and execute NATOS’s regional plans to enhance European security and stability.

    U.S., European leaders endorse collective defense tactics at strategy symposium

    U.S. Assistant Secretary of Defense for International Security Affairs Celeste Wallander provides remarks during the European Strategy Conference and Workshop at Ramstein Air Base, Germany, on Feb. 1, 2024. Nearly 750 military and civilian leaders from more than 30 Allied and partner nations took part in the event to discuss the impacts of malign influence in the Euro-Atlantic, and considerations to implement and execute NATOS’s regional plans to enhance European security and stability.

    U.S., European leaders endorse collective defense tactics at strategy symposium

    U.S. Air Force Maj. Gen. Daniel Lasica, U.S. European Command director of strategy, plans and policy, gives opening remarks during the European Strategy Conference and Workshop at Ramstein Air Base, Germany, on Feb. 1, 2024. Nearly 750 military and civilian leaders from more than 30 Allied and partner nations took part in event to discuss the impacts of malign influence in the Euro-Atlantic, and considerations to implement and execute NATOS’s regional plans to enhance European security and stability.

    Nearly 750 military and civilian leaders from more than 30 Allied and partner nations took part in the U.S. European Command Strategy Conference and Workshop to discuss security in Ramstein, Germany, from Jan. 29 to Feb. 2, 2024.

    In his keynote address, U.S. Army Gen. Christopher Cavoli, commander of USEUCOM and Supreme Allied Commander Europe, highlighted the strength of the NATO Alliance and the command’s commitment to collective defense.

    “The Alliance continues to exhibit unprecedented cohesion, focus and determination during its transformation to conduct large-scale, theater-wide deterrence and defensive operations,” said Cavoli. “USEUCOM stands resolutely with the Alliance, committed to supporting its modernized system of collective defense every step of the way.”

    The week-long conference included two days of plenary sessions under the theme, “Unite, Adapt and Protect.” During the forum, leaders from NATO, the U.S. Department of Defense and USEUCOM discussed the impacts of malign influence in the Euro-Atlantic, and wide-ranging considerations to implement and execute NATO’s regional plans to enhance European security and stability.

    “This event was an opportunity for representatives from multiple nations to discuss strategies and initiatives to enhance capabilities within the NATO Alliance,” said U.S. Air Force Maj. Gen. Daniel Lasica, USEUCOM’s director of strategy, plans and policy. “By bringing together experts and decision-makers from across the Alliance, we solidify our impactful partnerships and develop practical solutions and strategies to promote peace and stability.”

    In addition to Cavoli’s keynote address, plenary sessions were led by: U.S. Assistant Secretary of Defense for International Security Affairs, Celeste Wallander; NATO Military Committee Chair, Netherlands Navy Adm. Rob Bauer; NATO Defence Policy and Planning Assistant Secretary General, Angus Lapsley; and Deputy Supreme Allied Commander Europe, U.K. Navy Adm. Keith Edward Blount.

    Additional panel discussions and workshops throughout the week centered on the continued defense and deterrence of the Euro-Atlantic, NATO’s role in the 21st century and strategic planning for the year ahead.

    MIL Security OSI –

  • MIL-OSI Europe: Positive progress of NRRP: European Commission gives positive assessment for payment of seventh instalment worth EUR 18.3 billion

    Source: Government of Italy (English)

    Italy today received the European Commission’s positive assessment for payment of the seventh instalment of its National Recovery and Resilience Plan (NRRP), worth EUR 18.3 billion, with all required milestones and targets having been successfully met. The recent technical revision of the NRRP combined three objectives, related to measures regarding renewables, batteries and reform of the financial risk associated with renewable energy purchase agreements, into a single milestone, meaning 64 goals were planned and reached for this instalment: 31 milestones and 33 targets.

    “With the payment of the seventh instalment, Italy will confirm its leading position in Europe in terms of the progress of its NRRP, with over EUR 140 billion received, corresponding to 72% of the Plan’s total resources and 100% of the planned objectives for the first seven instalments, amounting to 334 milestones and targets, all of which have been achieved fully respecting the timeline set by the Commission. This is also a qualitative record, as we have demonstrated our ability to use the instruments Europe has provided us with in a virtuous way, becoming a model for other Member States.
    We should all be proud of the great work we have done so far. Our work is certainly not over; in fact, it must continue with the same determination, for an increasingly modern, productive and competitive nation that is strong and inclusive, aware of and ready for the global challenges of today and tomorrow”, stated President of the Council of Ministers Giorgia Meloni.

    The objectives achieved for the seventh instalment include several reforms, such as the competition law, measures to speed up public administration payments, and a review of the ‘universal civil service’. 

    “Several strategic investments are linked to the seventh instalment – stated the Minister for European Affairs, the NRRP and Cohesion Policy, Tommaso Foti – including the new power interconnection between Sardinia, Corsica and the mainland (SA CO I.3), and the undersea power connection between Sicily, Sardinia and the mainland (Tyrrhenian Link). These infrastructure projects are crucial to implementing electricity transmission grids and strengthening Italy’s energy independence, with the goal of guaranteeing energy for households and businesses at more favourable conditions.
    The positive assessment for the payment of this instalment follows submission of the payment request for the eighth instalment, confirming the Italian Plan is in line with Europe’s NRRP roadmap, in full respect of its commitments, priorities and the final deadline of August 2026”.

    In addition to investments in energy infrastructure, other significant measures include: expansion of the fleet of zero-emission buses and trains for regional transportation and the strengthening of metropolitan hubs and major national links; the upgrading of many railway stations; cybersecurity measures; the launch of 480 ‘local operational centres’ (‘Centrali Operative Territoriali’, ‘COT’) to improve public health services; investments to better manage water resources; the assignment of 55,000 university study grants to deserving, underprivileged students; 7,200 PhD research scholarships and another 6,000 innovative PhD scholarships dedicated to business.

    MIL OSI Europe News –

  • MIL-OSI Security: USEUCOM Welcomes New Commander in Stuttgart Ceremony

    Source: United States EUROPEAN COMMAND

    STUTTGART, Germany – July 1, 2025 —U.S. Air Force Gen. Alexus G. Grynkewich assumed command of U.S. European Command from U.S. Army Gen. Christopher G. Cavoli during a formal Change of Command ceremony at Patch Barracks today.

    As one of the United States’ six geographic combatant commands, USEUCOM plays a critical role in deterring aggression, supporting NATO allies, and defending U.S. national interests across a vast area of responsibility that includes Europe, parts of Asia and the Middle East, and the Arctic.

    Cavoli, who led the command since June 27, 2022, oversaw a period marked by increased U.S. and NATO interoperability, rotational deployments, and defense posture adjustments in Eastern Europe.

    “Like many others, I have stood in awe of you,” Cavoli said speaking to members of USEUCOM. “The thing that drives you to great heights is that you perform for our country in front of others and with our allies. The one privilege I will always remember, I will always cherish, is the privilege to stand in the ranks with you, all of you at EUCOM.”

    Chairman of the Joint Chiefs of Staff, U.S. Air Force Gen. Dan Caine, presided over the ceremony. He spoke to the importance of integrated operations, and both Cavoli’s and Grynkewich’s leadership, saying, “The world can shift in a matter of hours, and that’s why we prepare, why we shift, and why we train and operate as an integrated force – to be ready. General Grynkewich is prepared for this job. He is the right leader who is humble, credible and approachable to follow the great leader before him.”

    Grynkewich previously served as the Director of Operations, J-3, Joint Staff. He assisted the Chairman in carrying out responsibilities as the principal military advisor to the President and Secretary of Defense. He has served as an instructor pilot, weapons officer and operational test pilot in the F-16 Fighting Falcon and F-22 Raptor. Grynkewich has commanded at the squadron, wing, and Air Expeditionary Task Force levels.

    “Today, a protracted war rages in Europe for the first time in decades, and our operations in the Mediterranean are helping to contain conflict in the Middle East. More broadly our adversaries are aligning, working together more than ever before as they seek to dominate their regions and even the globe, thus the good work done here across the command is more important than ever,” said Grynkewich. “These are consequential times, demanding bold and innovative leadership at all times. The men and women of EUCOM deliver this every single day, and my pledge to you is that I will do everything in my power to do the same for you.”

    USEUCOM is dedicated to proactively safeguarding the homeland while enhancing security across the Euro-Atlantic region. It is responsible for planning and executing military operations within its area of responsibility, which includes conducting joint and multinational training, providing military assistance to partner nations, and fostering military-to-military relationships with Allies and partners.

    For more information please contact USEUCOM public affairs at eucom.media@mail.mil

    MIL Security OSI –

  • MIL-OSI Security: USEUCOM Welcomes New Commander in Stuttgart Ceremony

    Source: United States EUROPEAN COMMAND

    STUTTGART, Germany – July 1, 2025 —U.S. Air Force Gen. Alexus G. Grynkewich assumed command of U.S. European Command from U.S. Army Gen. Christopher G. Cavoli during a formal Change of Command ceremony at Patch Barracks today.

    As one of the United States’ six geographic combatant commands, USEUCOM plays a critical role in deterring aggression, supporting NATO allies, and defending U.S. national interests across a vast area of responsibility that includes Europe, parts of Asia and the Middle East, and the Arctic.

    Cavoli, who led the command since June 27, 2022, oversaw a period marked by increased U.S. and NATO interoperability, rotational deployments, and defense posture adjustments in Eastern Europe.

    “Like many others, I have stood in awe of you,” Cavoli said speaking to members of USEUCOM. “The thing that drives you to great heights is that you perform for our country in front of others and with our allies. The one privilege I will always remember, I will always cherish, is the privilege to stand in the ranks with you, all of you at EUCOM.”

    Chairman of the Joint Chiefs of Staff, U.S. Air Force Gen. Dan Caine, presided over the ceremony. He spoke to the importance of integrated operations, and both Cavoli’s and Grynkewich’s leadership, saying, “The world can shift in a matter of hours, and that’s why we prepare, why we shift, and why we train and operate as an integrated force – to be ready. General Grynkewich is prepared for this job. He is the right leader who is humble, credible and approachable to follow the great leader before him.”

    Grynkewich previously served as the Director of Operations, J-3, Joint Staff. He assisted the Chairman in carrying out responsibilities as the principal military advisor to the President and Secretary of Defense. He has served as an instructor pilot, weapons officer and operational test pilot in the F-16 Fighting Falcon and F-22 Raptor. Grynkewich has commanded at the squadron, wing, and Air Expeditionary Task Force levels.

    “Today, a protracted war rages in Europe for the first time in decades, and our operations in the Mediterranean are helping to contain conflict in the Middle East. More broadly our adversaries are aligning, working together more than ever before as they seek to dominate their regions and even the globe, thus the good work done here across the command is more important than ever,” said Grynkewich. “These are consequential times, demanding bold and innovative leadership at all times. The men and women of EUCOM deliver this every single day, and my pledge to you is that I will do everything in my power to do the same for you.”

    USEUCOM is dedicated to proactively safeguarding the homeland while enhancing security across the Euro-Atlantic region. It is responsible for planning and executing military operations within its area of responsibility, which includes conducting joint and multinational training, providing military assistance to partner nations, and fostering military-to-military relationships with Allies and partners.

    For more information please contact USEUCOM public affairs at eucom.media@mail.mil

    MIL Security OSI –

  • MIL-OSI United Nations: Conference Holds Multistakeholder Round Table on Upholding Multilateral Trading System, Harnessing Potential of Science, Technology and Innovation

    Source: United Nations 4

    The Conference holds its fourth multi-stakeholder round table this morning on “Upholding the multilateral trading system, and harnessing the potential of science, technology and innovation”.

    Co-Chaired by Nadia Fettah, Minister for Economy and Finance of Morocco, and Melita Gabrič, Deputy Minister for Foreign and European Affairs and Minister for Development of Slovenia, it will feature a special address by Pedro Sánchez, President of Spain. 

    Jorge Moreira da Silva, Executive Director of the United Nations Office for Project Services (UNOPS), will moderate the discussion.

    Panelists will include:  Shane Reti, Minister for Science and Innovation, Minister for Pacific Peoples, Minister for Statistics and Universities of New Zealand; Karamoko Jean-Marie Traore, Minister for Foreign Affairs, Regional Cooperation and Burkinabè Abroad of Burkina Faso; Philip Gough, Secretary of Economic and Financial Affairs of Brazil; and Enrique Javier Ochoa Martinez, Under Secretary for Multilateral Affairs and Human Rights, Ministry of Foreign Affairs of Mexico.

    Representatives of the Customs Cooperation Council and a civil society organization will be the discussants.

    …

    MIL OSI United Nations News –

  • MIL-OSI China: Guirassy double as Dortmund down Monterrey to reach Club World Cup quarters

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

    Serhou Guirassy scored two first-half goals as Borussia Dortmund beat Monterrey 2-1 on Tuesday to reach the FIFA Club World Cup quarterfinals.

    German Berterame pulled one back early in the second half but the Mexican side failed to capitalize on several late chances.

    The result means Dortmund will face Real Madrid in New Jersey on Saturday for a place in the last four while Monterrey bows out.

    Borussia Dortmund’s Niklas Suele (R) vies with CF Monterrey’s Jesus Corona during the round of 16 match between Borussia Dortmund of Germany and CF Monterrey of Mexico at the FIFA Club World Cup 2025 at the Mercedes-Benz Stadium, Atlanta, Georgia, the United States, July 1, 2025. (Xinhua/Huang Zongzhi)

    Monterrey had the first scoring opportunity of the match when Colombian midfielder Nelson Deossa fired a speculative long-range effort straight at goalkeeper Gregor Kobel.

    But most of the early attacking was done by Dortmund, whose fluid passing was causing problems for Monterrey’s defense.

    Guirassy opened the Bundesliga club’s account in the 14th minute when he played a slick one-two with Karim Adeyemi before side-footing a low effort that beat Argentine goalkeeper Esteban Andrada at his near post.

    The goal spurred Monterrey into action. Jesus Corona almost put his side on level terms when he miscued his cross from the left flank and instead hit the woodwork. Moments later, Deossa aimed a 25-yard rocket straight at Kobel.

    But the Liga MX side was undone once more by the Adeyemi-Guirassy combination in the 24th minute as the Guinea international striker caressed a first-time shot past Andrada after Adeyemi’s layoff.

    Deossa again tried his luck from distance, forcing a sharp save from Kobel, but most of the chances were at the other end as Dortmund maintained the pressure.

    Guirassy continued to trouble Monterrey’s defense and squandered the chance for a first-half hat-trick when he slid Jobe Bellingham’s cross wide. He then saw another attempt blocked by Andrada.

    Monterrey returned from the halftime interval with fresh urgency, reducing the deficit in the 48th minute through Berterame, who nodded in from close range after Daniel Svensson’s defensive header deflected off Erick Aguirre and into the path of the Mexico international.

    The Rayados pushed forward in search of an equalizer and Jesus Corona drew a reflex save from Kobel after Sergio Canales’ deft through ball.

    Corona then fired over after dribbling into the box, and Oliver Torres forced another stop with a clever volley.

    Former Real Madrid defender Sergio Ramos had a gilt-edged chance to equalize in the 91st-minute but headed inches wide from Aguirre’s cross. 

    MIL OSI China News –

  • MIL-OSI Europe: NRRP: payment request for eighth instalment, equal to EUR 12.8 billion, sent to European Commission

    Source: Government of Italy (English)

    The payment request for the eighth instalment of the National Recovery and Resilience Plan (NRRP), equal to EUR 12.8 billion, was sent to the European Commission today.

    The request was submitted following the NRRP steering committee meeting held on 24 June, which verified the achievement of the 40 required objectives (28 targets and 12 milestones), including reforms and investments that are strategic for Italy’s economic and social growth. With the payment request for the eighth instalment, Italy has consolidated its leading position in Europe in terms of implementation of its NRRP, which will enable it to exceed EUR 153 billion over the coming months, corresponding to approximately 79% of the Plan’s total resources. 

    The measures implemented as part of the eighth instalment include: digitalisation of the Guardia di Finanza [Italian Finance Police], with innovative IT systems to fight economic crime; more than 1,000 language and methodology courses for school teachers; the launch of projects to update school curricula in over 8,000 schools and guide students towards STEM skills; implementation of culture and tourism enhancement projects by supporting approximately 2,000 small and medium-sized enterprises; redevelopment of around 50 historical parks and gardens. Furthermore, 1,400 km of rail infrastructure have been equipped with the European Rail Traffic Management System (ERTMS); an advanced and integrated monitoring and forecasting system has been created to identify hydrogeological risks in Italy’s southern regions; marine habitat protection and coastal observation work has been carried out; improvements to the energy efficiency of public housing have been planned; with regard to universities, 5,000 research projects of national interest have been funded, approximately 2,300 new researchers have been hired, more than 550 research grants have been allocated, and financing has been provided for research programmes and projects on rare and severely debilitating diseases. 

    In addition to these investments, there are also important reforms to boost the economic competitiveness of companies, including the reform to reduce payment delays by central and local government authorities, regional authorities, autonomous provinces and national health service bodies, and the reform to launch simplification and streamlining for business incentives.

    In line with the previous payment requests, the eighth instalment will be disbursed upon completion of the standard assessment process provided for by European procedures, the aim of which is to verify that all required milestones and targets have been met.

    MIL OSI Europe News –

  • MIL-OSI Europe: President Meloni attends ceremony for display case dedicated to Paolo Borsellino

    Source: Government of Italy (English)

    30 Giugno 2025

    The President of the Council of Ministers, Giorgia Meloni, delivered a speech at today’s ceremony at the Chamber of Deputies for the presentation of a display case dedicated to Paolo Borsellino.

    [This video is available in Italian only]

    MIL OSI Europe News –

  • MIL-OSI Video: ECB Forum on Central Banking 2025 – Day 2

    Source: European Central Bank (video statements)

    The ECB Forum on Central Banking – the Sintra Forum – is an annual event organised by the European Central Bank and is held in Sintra, Portugal.

    It brings together central bank governors, academics, financial market representatives, journalists and others to exchange views on current policy issues and discuss the Forum’s key topic from a longer-term perspective.

    https://www.youtube.com/watch?v=lILvc719yNs

    MIL OSI Video –

  • MIL-OSI United Kingdom: Vilo the puppy rescued from tenement destroyed in fire

    Source: Scotland – City of Perth

    The puppy called Vilo, which means “to live” or “to thrive and flourish” in Slovakian, was feared killed in the Scott Street fire which occurred in the early hours of Saturday 14 June.

    However, the chihuahua was later spotted in the window of the building by nearby residents. Perth and Kinross Council reached out to charity Missing Pets Perth and Kinross for advice.

    Once restrictions over the site of the fire were removed the charity’s volunteers flew a drone over the tenement and used thermal imaging to pinpoint its location.

    They then provided traps for demolition workers to put out each night containing food and water. Cameras inside showed Vilo taking enough to survive – but not venturing far enough inside to set the traps off.

    It was only when clothes belonging to her owners were placed in the crates that the rescue team were able to bring Vilo back down to ground level on Friday, 27 June, almost two weeks after the fire.

    Katie McCandless from the charity said: “This is a little bit of hope in some dark times.

    “Perth and Kinross Council contacted us for some help and advice about what the best thing to do was. I’ve been running this charity for 14 years but this is the first type of case like this I’ve ever been involved in.

    “We knew it was a delicate situation and had to be handled sensitively, a lot of residents have lost everything.”

    Following Vilo’s rescue, she was taken to a vet for a check over and, remarkably, is suffering no ill effects.

    It also emerged Vilo had also managed to make herself a bed in a wardrobe, where she escaped the noise and disruption of the demolition work going on around her during the day.

    Katie said: “She does not have a single mark on her and her paw pads are completely fine. She smells a bit of smoke but had minimal smoke inhalation. She really is a miracle dog”

    The dog belongs to the Ridaj family, who stayed in the top-floor of the tenement. Dad Maros said:  “We are very happy that the dog is safe and has been returned to us.”

    Councillor Eric Drysdale, deputy leader of Perth and Kinross Council and ward member for Perth City Centre, said: “This really is a remarkable story.

    “I would like to thank everyone who helped return Vilo to her family safely -, the neighbouring family who reported seeing her, Missing Pets Perth and Kinross, Council staff who supported the rescue and, of course, the team from Reigart Contracts who assisted while carrying out dangerous and urgent demolition work.

    “We know there are people still grieving after the fire because of the loss of loved ones, the loss of their homes and the impact on businesses nearby.

    “But this amazing rescues is emblematic of the kindness people have shown in the wake of the tragedy – and the extra mile people have been willing to go to help others affected by this awful situation.”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Belgium and China vow to deepen ties and strengthen mutual trust

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BRUSSELS, July 2 (Xinhua) — Belgian Prime Minister Bart De Wever met with Chinese Foreign Minister Wang Yi, a member of the Politburo of the Communist Party of China Central Committee, here on Tuesday, vowing to deepen exchanges and strengthen mutual trust with China.

    B. De Wever noted that Belgium and China have a long history of exchanges, and Belgium plays an important role in cooperation between Europe and China.

    Recalling his many visits to China, De Wever said he was deeply impressed by China’s development achievements. Despite differences in views, he stressed the importance of expanding exchanges and strengthening mutual trust in the current complex geopolitical environment.

    Moreover, he reaffirmed Belgium’s commitment to multilateralism and to promoting the autonomy of Europe, expressing hope that the upcoming meeting of EU and Chinese leaders would bring positive results.

    B. De Wever also stressed that Belgium firmly adheres to the one-China policy and this position will not change.

    Wang Yi stressed Belgium’s unique role in the European integration process and China-EU relations as a founding member of the EU and the host country of the EU.

    Wang Yi said China appreciates the rational and pragmatic China policy pursued by the new Belgian government and is willing to cooperate with it to further strengthen the traditional friendship and comprehensive partnership.

    According to the Chinese diplomat, China remains committed to high-quality development and high-level opening-up, welcomes more Belgian enterprises in China, and hopes that Belgium will also provide Chinese companies investing in Belgium with a fair, safe and predictable business environment.

    Wang Yi also noted that this year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU, which is of great significance for the connection between the past and the future. He added that the half-century of interaction between China and the EU has fully demonstrated that the two sides can achieve mutual respect and win-win cooperation.

    In the complex and unstable international environment, China and the EU, as the two major powers, markets and civilizations in the world, should uphold the position of partners and the core idea of win-win cooperation, strengthen ties, deepen understanding and consolidate mutual trust, so as to jointly safeguard multilateralism and the free trade system. Together, they should serve as an “anchor of stability” in the world and act as reliable and strong partners that support and empower each other, Wang said.

    The parties also exchanged views on issues, including Ukraine. –0–

    MIL OSI Russia News –

  • MIL-OSI: Bitwise Lists NEAR Staking ETP on Xetra, Broadening Suite of Index-Based Staking Strategies

    Source: GlobeNewswire (MIL-OSI)

    • Bitwise NEAR Staking ETP is the latest addition to Bitwise’s European index-linked staking ETP suite — aiming to offer investors efficient, regulated exposure to NEAR, the Blockchain for AI.
    • NEAR Protocol: A high-performance, energy-efficient, layer-11blockchain built for the AI era—powering cross-chain interoperability and AI-native applications through fast, user-friendly infrastructure.
    • Staking: The Bitwise NEAR Staking ETP will seek to stake the NEAR tokens held by the product, with the objective of generating additional returns of approximately 5.5% net of fees and TER, while providing investors with daily liquidity on the stock exchange.

    02 July 2025. Frankfurt: Bitwise today announced the launch of the Bitwise NEAR Staking ETP (Ticker NEAR; ISIN DE000A4A5GV2) on Deutsche Börse Xetra. NEAR Protocol is a blockchain platform known for its approach to scalability, low-cost performance, and a user-first vision of decentralization – powering 45M+ monthly active users and 8M daily transactions2.

    The Bitwise NEAR Staking ETP is designed for both institutional and retail investors who are familiar with digital assets and seeking to diversify their portfolios. The launch marks another milestone in a series of product innovations designed to broaden investment access to the crypto market, provide high-quality investment solutions and timely market insights, and promote transparency and accountability in what is shaping up to be a landmark year for the crypto industry.

    The ETP is fully backed and issued in Germany, designed with the objective to deliver efficient staking returns, low total cost of ownership, and superior performance compared to other NEAR staking ETP solutions currently on the market. Staking yields accumulate daily in the ETP seeking to enhance performance. Using a robust and transparent benchmark, the CF NEAR Staked Return Index, investors can accurately track the performance of the ETP after costs and fees compared to the market standard NEAR staking return.

    The Biwise NEAR Staking ETP is the fourth to be launched as part of Bitwise’s European Total Return product suite including the Bitwise Ethereum Staking ETP (Ticker: ET32 | ISIN DE000A3G90G9), which recently surpassed €200 million in assets under management.

    Bradley Duke, Head of Europe at Bitwise, said: “We are so pleased to launch this new ETP in partnership with NEAR. There is a lot of noise in the world of crypto and we are excited to partner with a genuine innovator in both blockchain and AI. The Bitwise NEAR Staking ETP gives investors exposure to price movements in the NEAR token as well as compounded return from staking rewards all with Bitwise’s best-in-class ETP structure.”

    Illia  Polosukhin, Co-Founder NEAR Foundation: “NEAR was built to power a new kind of internet—one where AI serves people, not platforms. This ETP brings that vision closer to investors worldwide. By making NEAR more accessible through Bitwise’s trusted products, we’re accelerating mainstream adoption of user-owned AI infrastructure.”

    NEAR Protocol – a layer-1 blockchain designed for usability and scalability

    NEAR Protocol is a blockchain platform designed to make advanced technologies like artificial intelligence more accessible and useful. Launched in 2020, NEAR addresses common challenges in blockchain—like slow speeds and high costs—by using a technology called sharding to process many transactions at once.

    What sets NEAR apart is its focus on real-world usability: it lets people access apps and services with usernames—similar to email addresses—rather than traditional Web3 wallet codes. It also operates across different blockchains, aiming to simplify the transfer of assets and data between platforms. NEAR is already being used to power AI tools, digital wallets, and applications that give users greater control over their data and digital identity. Its architecture is particularly well-suited for AI, providing the speed, scalability, and data privacy required to support AI-powered applications and autonomous agents.

    In Q2 2025, NEAR ranked #2 among the most-used blockchain platforms in terms of monthly active users, just after Solana3. This growth is driven in part by NEAR’s chain abstraction technology, which makes it easier for people to use apps across different blockchains without needing multiple wallets or tokens. With chain signatures, users can access and control accounts on other blockchains directly through their NEAR account, making cross-chain activity simple and intuitive.

    Developers also benefit from NEAR’s infrastructure. Its customizable smart contracts support multichain financial applications using secure cryptographic tools—without the need for bridges or wrapped tokens, which can introduce risk and complexity.

    Staking NEAR

    Staking is a way to generate income for crypto asset owners, and is a key feature for NEAR. On the NEAR Protocol, staking allows token holders to help validate transactions on the network, contributing to its security and reliability. In return, they earn additional tokens – so called staking rewards—similar to how dividends work in traditional equities.

    For investors, the Bitwise NEAR Staking ETP may offer a streamlined way to gain exposure to staking rewards without managing the technical aspects of staking or token custody directly. While direct NEAR holders can stake through wallets or validators, the ETP offers distinct benefits—particularly daily liquidity, as it is traded on regulated stock exchanges and involves no lock-up periods or manual delegation. Additionally, the underlying NEAR tokens are held in secure cold storage by a professional institutional custodian, which offers an added layer of asset protection.

    Key Product Details

    ETP Name Bitwise NEAR Staking ETP
    Primary Ticker NEAR
    ISIN / WKN DE000A4A5GV2 / A4A5GV
    Index Benchmark CF NEAR Staked Return Index
    Expected NET Staking Reward 5.5%*
    TER 0.85% p.a.

    *The Net Staking Reward reflects the staking return after all fees (Staking Service Fee and TER) have been deducted, on a per-ETP unit basis. This figure represents the return the ETP is expected to deliver, expressed in annualised, non-compounded % terms. Note: The rate is subject to change based on network and market dynamics. The Net Staking Rewards are accumulated daily within the ETP, seeking to enhance performance. This mechanism increases the cryptocurrency entitlement per ETP unit at the end of each trading day, meaning that the amount of NEAR backing each ETP share adjusts upward over time. You can view the current entitlement per ETP unit in the Cryptocurrency Entitlement Table available on the product page at www.bitwiseinvestments.eu/products.

    – Ends –

    About NEAR Foundation

    NEAR Protocol is the blockchain for AI. A high-performance, AI-native platform built to power the next generation of decentralized applications and intelligent agents. It provides the infrastructure AI needs to transact, operate, and interact across Web2 and Web3. NEAR combines three core elements: User-Owned AI, which ensures agents act in users’ best interests; Intents and Chain Abstraction, which eliminate blockchain complexity for seamless, goal-driven transactions across chains; and a sharded blockchain architecture that delivers the scalability, speed, and low-cost execution needed for real-world AI and Web3 use. This integrated stack makes NEAR the foundation for building secure, user-owned, AI-native applications at internet scale.

    About Bitwise

    Bitwise is one of the world’s leading crypto specialist asset managers. Thousands of financial advisors, family offices, and institutional investors across the globe have partnered with us to understand and access the opportunities in crypto. Since 2017, Bitwise has established a track record of excellence, managing a broad suite of index and active solutions across ETPs, separately managed accounts, private funds, and hedge fund strategies – spanning both the U.S. and Europe.

    In Europe, for the past five years Bitwise (formerly ETC Group) has developed an extensive and innovative suite of crypto ETPs, including Europe’s most traded bitcoin ETP, or the first diversified Crypto Basket ETP replicating an MSCI digital assets index.

    This family of crypto ETPs is domiciled in Germany and issued under a base prospectus approved by BaFin. We exclusively partner with reputable entities from the traditional financial industry, ensuring that 100% of the assets are securely stored offline (cold storage) through regulated custodians.

    Our European products comprise a collection of carefully designed financial instruments that seamlessly integrate into any professional portfolio, providing comprehensive exposure to crypto as an asset class. Access is straightforward via major European stock exchanges, with primary listings on Xetra, the most liquid exchange for ETF trading in Europe. Retail investors benefit from easy access through numerous DIY/online brokers, coupled with our robust and secure physical ETP structure, which includes a redemption feature. For more information, visit http://www.bitwiseinvestments.eu

    Media contacts:

    JEA Associates
    John McLeod
    00 44 7886 920436
    john@jeaassociates.com

    Important information  
    This press release does not constitute investment advice, opinions are those of Bitwise and do not constitute an offer or solicitation to buy financial products. This press release is issued by Bitwise Europe GmbH (“BEU”), a limited company domiciled in Germany, for information only and in accordance with all applicable laws and regulations. BEU gives no explicit or implicit assurance or guarantee regarding the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. It is advised not to rely on the fairness, accuracy, completeness, or correctness of this article or the opinions contained therein. Please note that this article is neither investment advice nor an offer or solicitation to acquire financial products or cryptocurrencies.  
      
    Before investing in crypto Exchange Traded Products (“ETPs”), potential investors should consider the following:  
    Potential investors should seek independent advice and consider relevant information contained in the base prospectus and the final terms for the ETPs, especially the risk factors. Diversification does not guarantee a profit or protect against a loss. ETPs issued by BEU are suitable only for persons experienced in investing in cryptocurrencies and risks of investing can be found in the prospectus and final terms available on www.bitwiseinvestments.com./eu. The invested capital is at risk, and losses up to the amount invested are possible. ETPs backed by cryptocurrencies are highly volatile assets and performance is unpredictable. Past performance is not a reliable indicator of future performance. The market price of ETPs will vary and they do not offer a fixed income or match precisely the performance of the underlying cryptocurrency.  Investing in ETPs involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks. 

    1 Source: NEAR Foundation
    2 Source: Bitwise Europe Research; NEAR Foundation
    3 Source: Artemis, Bitwise Europe; https://app.artemisanalytics.com/chains

    The MIL Network –

  • MIL-OSI Africa: Minister of Planning, Economic Development and International Cooperation Discusses Developments in Joint Relations with United Nations Conference on Trade and Development (UNCTAD) Secretary-General and Oxford Poverty and Human Development Initiative (OPHI) Director


    Download logo

    H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with Ms. Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), and Professor Sabina Alkire, Director of the Oxford Poverty and Human Development Initiative (OPHI).

    This was part of her ongoing participation in the Fourth International Conference on Financing for Development, held in Spain from June 29 to July 3, 2025, as a member of the Egyptian delegation headed by H.E. Dr. Mostafa Madbouly, Prime Minister, on behalf of H.E. President Abdel Fattah El-Sisi, President of the Republic of Egypt.

    H.E. Dr. Rania Al-Mashat discussed with the UNCTAD’s Secretary-General the joint relations between Egypt and UNCTAD, reviewing ways to elevate cooperation in the fields of economic development and investment.

    H.E. Dr. Al-Mashat expressed appreciation for the joint efforts with UNCTAD in issuing the Global Investment Report 2024, which monitors the most prominent trends in foreign direct investment worldwide. She highlighted the importance of this report in shedding light on Egypt’s position among the most attractive countries for investments, in light of the economic reforms implemented by the Egyptian government.

    The meeting also touched on the joint relations between Egypt and UNCTAD, underscoring the significance of cooperation in economic development and promoting foreign investments, in addition to utilizing the organization’s tools to measure the impact of development policies and enhance trade and investment strategies.

    In another context, Dr. Rania Al-Mashat met with Professor Sabina Alkire, Director of the Oxford Poverty and Human Development Initiative (OPHI), an economist and professor in the Department of International Development at Oxford University, to discuss endeavors to promote investment in human capital.

    The two sides reviewed human development efforts and increasing investment in human capital to improve living standards and foster inclusive and sustainable economic development.

    The meeting also highlighted the Global Multidimensional Poverty Index, reaffirming that it represents an annual international measure of acute multidimensional poverty, covering over 100 developing countries. This index is a key tool for measuring the severity of poverty through 7 main dimensions: education, health, basic services, employment, social protection, and food security.

    Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation – Egypt.

    MIL OSI Africa –

  • Wimbledon: Sinner remains ice cool as Gauff, Pegula and Zverev join bonfire of seeds

    Source: Government of India

    Source: Government of India (4)

    World number one Jannik Sinner stayed ice cool to move serenely into the Wimbledon second round but it was a second successive day of upsets at a sizzling All England Club as a succession of seeded players crashed and burned on Tuesday.

    American second seed Coco Gauff, chasing a French Open-Wimbledon double after her Paris triumph, was the day’s most surprising casualty, losing 7-6(3) 6-1 to Ukraine’s Dayana Yastremska as the sun set on a sultry day.

    Gauff’s compatriot Taylor Fritz, the world number five, survived a five-set firefight by the skin of his teeth against big-serving Frenchman Giovanni Mpetshi Perricard.

    But the same could not be said of 13 of the men’s seeds who fell at the first hurdle – a Wimbledon record since 32 seeds were introduced in 2001.

    Nine seeds also perished in the women’s first round while the eight top-10 seeds to go out across both singles draws amounted to the highest at a Grand Slam in the professional era.

    Germany’s Alexander Zverev was the most notable men’s casualty, the third seed losing 7-6(3) 6-7(8) 6-3 6-7(5) 6-4 to France’s Arthur Rinderknech in a marathon duel that began on Monday and was locked at one set apiece overnight.

    “I’m not sure he’s ever played a match like that in his life,” said Zverev, who is still chasing a first Grand Slam title after 38 attempts.

    Italian Lorenzo Musetti, seeded seventh, was bundled out on Court Two by Nikoloz Basilashvili – the same court where earlier American women’s third seed Jessica Pegula was sent packing 6-2 6-3 by Italian Elisabetta Cocciaretto.

    A red-hot Sinner never looked like joining the exodus as he beat fellow Italian and close friend Luca Nardi 6-4 6-3 6-0 in a victorious return to the Grand Slam stage after his epic French Open final defeat by Carlos Alcaraz last month.

    “I tried to put the friendship away for a couple of hours,” Sinner, who conceded only four points when he landed his first serve, told reporters.

    Novak Djokovic closed out the day’s action on the main showcourt by getting past Frenchman Alexandre Muller 6-1 6-7(7) 6-2 6-2 despite being hampered by a stomach bug midway through his match. He will face Briton Dan Evans next.

    After seven British players won singles matches on Monday – a professional era record at Wimbledon – home fans had more to cheer on Tuesday as fourth seed Jack Draper, his nation’s big hope, avoided any dramas by easing past Argentina’s Sebastian Baez who retired hurt trailing 6-2 6-2 2-1.

    In total, 10 British players have reached round two.

    KREJCIKOVA TESTED

    Women’s defending champion Barbora Krejcikova was tested by promising 20-year-old Filipina Alexandra Eala but after a slow start she found her form to win 3-6 6-2 6-1 on her return to Centre Court after last year’s surprise triumph.

    “I mean, what the hell (kind of tennis) she played in the first set?” said Krejcikova, praising her opponent.

    “She was smashing the ball and cleaning the lines, so wow, wow. She’s going to be really good in a couple of years.”

    Five-times Grand Slam champion Iga Swiatek, seeded eight, has yet to conquer Wimbledon but showed positive signs when she beat Polina Kudermetova 7-5 6-1 while Russian teenager Mirra Andreeva advanced after a 6-3 6-3 victory over Mayar Sherif.

    Both might have expected Gauff to be a major obstacle but the world number two subsided against Yastremska.

    “I feel like mentally I was a little bit overwhelmed with everything that came afterwards,” Gauff said about the spell following her Paris triumph last month.

    “I didn’t feel I had enough time to celebrate and also get back into it.”

    The women’s draw is now without three of its top five seeds after number five Zheng Qinwen of China, the Olympic champion, suffered a third successive Wimbledon first-round defeat, beaten 7-5 4-6 6-1 by Czech doubles specialist Katerina Siniakova.

    “I believe if I get through the first match, I will start to play better and better (on grass),” Zheng said. “The problem is the first match for me is complicated.”

    Many will lament the exit of Wimbledon dark horse Alexander Bublik, seeded 28th. The Kazakh showman is guaranteed entertainment with his array of trick shots but he was unable to avoid the exit door, as he was dragged into battle by Spaniard Jaume Munar and beaten 6-4 3-6 4-6 7-6(5) 6-2.

    Late in the day yet another seed fell when Frenchman Ugo Umbert was beaten by veteran countryman Gael Monfils, again defying his 38 years to edge a five-setter.

    American Fritz survived, though, letting out a huge roar as he beat Perricard 6-7(6) 6-7(8) 6-4 7-6(6) 6-4 in a match carried forward from Monday. Perricard’s consolation for losing the cliffhanger was a 153 mph serve – a Wimbledon record.

    Tommy Paul took out Briton Johannus Monday with little fuss, the 13th seed cruising through 6-4 6-4 6-2, but it was the end of the road for fellow American and 30th seed Alex Michelsen who fell 6-2 3-6 6-3 3-6 7-6(6) to Serbia’s Miomir Kecmanovic.

    Zeynep Sonmez became the first Turkish woman to reach the second round at the grasscourt Grand Slam when she battled past Romania’s Jaqueline Cristian 7-6(3) 6-3.

    Victoria Mboko found out a few hours before she faced Magdalena Frech that she had entered the main draw as a Lucky Loser due to Anastasia Potapova’s withdrawal and the Canadian teenager rode her luck to stun the 25th seed 6-3 6-2.

    Fourteen years after first adding her name to the Wimbledon honours board, twice champion Petra Kvitova performed her last dance on the lawns, the Czech losing 6-3 6-1 to American 10th seed Emma Navarro.

    (Reuters)

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

    MIL OSI Economics –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

    MIL OSI Economics –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

    Conclusion

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

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

    MIL OSI Economics –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

    Conclusion

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

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

    MIL OSI Economics –

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

    Source: Republic of China Taiwan

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

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

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

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

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

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

    MIL OSI Asia Pacific News –

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

    Source: Traditional Unionist Voice – Northern Ireland

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

    MIL OSI United Kingdom –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

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

    MIL OSI Economics –

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

    Source: Bank for International Settlements

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Thank you.

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

    MIL OSI Economics –

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI China News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    – 

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

    – 

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

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

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

    – 

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

    – 

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

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

    The MIL Network –

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

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

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

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

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

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

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

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

    Winners of competitions in Beijing, New York and Spain

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

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

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

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

    Laureates of competitions in Belarus, the Netherlands and Switzerland

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

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

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

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

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

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

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

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

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

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

    Winners perform in Andorra, Bulgaria, Cyprus and Russia

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

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

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

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

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

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

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

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

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

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

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

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

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