Category: Pandemic

  • MIL-OSI Economics: A Stronger Engine for Middle East and North Africa’s Growth

    Source: International Monetary Fund

    The Managing Director’s Keynote Speech at the Ninth Arab Fiscal Forum, Dubai, UAE

    February 10, 2025

    Assalamu alaikum, your excellencies. I would like to thank Minister Al Hussaini for the United Arab Emirates’ continued warm hospitality in hosting this important annual event, as well as his excellent leadership of the World Bank’s Development Committee.

    It is a privilege to address you at the ninth Arab Fiscal Forum. Over the years, the IMF and Arab countries have always had a strong and productive partnership. Today, this partnership is more vital than ever as the world and this region undergo significant economic, technological, and geopolitical shifts—a point that I will reflect on later.

    In my remarks, I will explore how Arab countries can leverage fiscal policy to transform their economies for the future, and harness technology and investment opportunities for the benefit of their people.

    Global outlook and transformations

    Let me start with an overview of the global and regional economic outlook.

    Global growth is projected to hold at 3.3 percent this year and the next, and then to slow over the next five years, to just above 3 percent. This is well below the historical average.

    For the Middle East and North Africa, we expect growth to rebound to about 3.6 percent in 2025, driven by a recovery in oil production and an easing of regional conflicts. However, as with the global economy, our medium-term outlook still sees growth weaker than before the pandemic.

    Policymakers have generally succeeded in taming inflation, but not everywhere, with inflation picking up again in some countries. This could lead to a divergence in interest rates across countries and higher borrowing costs for emerging market and developing economies.

    On the fiscal side, the legacy of the multiple shocks from the last years leaves public finances under significant strain in many countries. Global public debt is projected to hit 100 percent of global GDP by 2030. Many countries in this region face similar pressures, with debt levels exceeding 70 percent of GDP. This poses the risk of them becoming trapped in a low-growth, high-debt scenario.

    Governments have the difficult task of containing high debt levels in the face of rising spending needs. This region faces the pressing need to create jobs, enhance social safety nets, build resilience to more frequent natural disasters, and support economic diversification. The demands of national security and post-conflict reconstruction are also substantial.

    This is all happening at a time of significant global transformations, which are creating a more uncertain and challenging environment for policymaking. We know, for instance, that trade is no longer the engine of growth that is used to be—unlike the decades of the 1990s and 2000s when global trade grew much faster than global GDP, the two are now growing at roughly the same rate. Governments around the world are shifting policy priorities: the new US administration has been clear that it intends to take action in the areas of trade, tax and spending, deregulation, and technology/digital assets. And the technology revolution—especially AI—is upon us and is set to transform the way we live and work, perhaps as early as the next five years.

    These rapid transformations mean the recipes of the past may no longer provide the path to prosperity. Economies will need to be agile, adaptable and resilient—these will be the ingredients for future success.

    How can the MENA region find these ingredients for success and avoid a low-growth, high-debt scenario?

    Building adaptable and more resilient economies

    First, focus on structural changes that increase economic resilience, agility, and long-term growth potential. Too often, countries use fiscal stimulus to boost short-term domestic demand. While this “sugar rush” provides temporary growth, it often fuels inflation and financial turbulence. Instead of merely stepping on the gas, we need a stronger engine.

    Productivity growth is essential for stronger growth and driving up economic performance. Our research in the Arab region shows how to do it: accelerate digitalization, reduce the state’s footprint in the economy, foster trade diversification, and encourage the free flow of capital to dynamic firms.

    Countries in the region that are more digitalized have substantially higher productivity than less-digitalization ones. Some countries are among the most developed in the world in this area. Digital innovation, with AI technologies, is expected to raise UAE’s GDP significantly by 2030. More R&D spending will further enhance productivity.

    Reducing the state’s footprint in the economy and strengthening governance can yield significant benefits. For example, Saudi Arabia’s regulatory improvements have fostered private sector investment, especially in the non-oil economy. The UAE’s National Agenda for Entrepreneurship has supported a vibrant startup community, and Morocco’s New Model of Development aims to spur markets by improving public sector governance.

    Encouraging employment is also a key ingredient for stronger growth. With a growing working-age population, the region has to make the most of its demographic advantage. Creating more private jobs, for women and youth in particular, can lead to more vibrant and inclusive economies. This requires more-flexible labor markets, and investment in education and vocational training. We have recently seen impressive developments in this regard in Oman, Qatar, and Bahrain.

    A second priority is economic diversification. Today’s transformations provide an excellent opportunity to stimulate and reallocate resources toward new economic sectors and services. This could become a robust new growth engine, particularly for oil-exporting countries. Many countries are already investing in new technologies, such as batteries for electric cars; in improving connectivity and in green supply chains, for example.

    Third, in a world where patterns of cooperation are shifting, countries need to look for opportunities to cooperate in new ways. In many cases, this means deepening regional cooperation. The GCC is an excellent example of the benefits of regional integration—one that I can imagine can be emulated elsewhere.

    Building fiscal buffers and institutions  

    Let me turn to the fiscal side.

    Prudent fiscal stance is essential for macroeconomic stability — a prerequisite for a vibrant private sector and economic growth. An overarching priority today is to decisively use fiscal policy to build fiscal buffers, which is essentially the capacity to spend when needed – for example, to respond to shocks, manage and mitigate risks, and meet pressing development and climate-related needs.

    Many countries will need to pursue fiscal consolidation. It is crucial to carefully calibrate the size, pace, and composition of fiscal adjustments, to avoid unduly hampering growth. Tailoring budgetary reforms to each country’s circumstances, with a helping hand for those who lose out, is vital to ensure public support.

    In this context, increasing tax revenues remains a priority. Our research finds significant potential in strengthening domestic tax systems. This requires expanding tax bases, especially as economies diversify. For example, as new sectors grow, including through digitalization, they can become an important source of tax revenues. In addition, digitalization and AI can help modernize tax administrations.

    Domestic taxes will remain the primary source of funding government spending. However, private domestic and external financing will be needed to support the spending needs in the region. Addressing the impact of more frequent natural disasters will potentially require a cumulative $1 trillion in investment by 2030. The financial sector must play a larger role, while governments can enable an investment-friendly environment.

    Several countries in the region require special attention, either to resolve ongoing conflicts or to advance post-conflict reconstruction. I pray that peace and stability can be delivered in Sudan and Yemen. I hope that the ceasefire in Gaza, along with political changes in Syria and Lebanon, can mark new beginnings. The international community’s reconstruction efforts provide a unique opportunity to rebuild better and lay the foundations for stronger growth.

    Let me conclude

    In a world of rapid transformations, it is critical for countries to become more agile, adaptable, and resilient. They need to look for new engines of growth, which will also help avoid a low-growth, high-debt trap.

    The private sector has to be in the lead in transforming economies in the region through entrepreneurship, job creation, and innovation.

    The role of governments is to foster the right environment for this private sector-led growth: by strengthening governance, modernizing public institutions, reducing bureaucracy, encouraging youth and female employment, and improving access to capital. And by designing and communicating policies that put people first and increase social support.

    The IMF remains fully committed to supporting the Middle East and North Africa. Since early 2020, we have approved about $33 billion in financing for the region, most recently in 2024 to help mitigate the impact of conflict. We have also recently reformed our surcharge policy, resulting in important savings for some countries. We have also expanded our capacity development and strengthened our regional presence with resident representative offices, technical assistance centers, and the new regional office in Riyadh.

    We are now stepping up our efforts to support the private sector, with the creation of a new IMF Advisory Council on Entrepreneurship and Growth. I can assure you, this region will be represented on it. And we look forward to the upcoming Al-Ula conference with emerging market economies, to discuss key issues affecting your economies. Jobs, innovation, and productivity—combined with a sound fiscal approach—will mean better prospects for citizens in this region and ultimately more peace and stability.

    Let’s get to work, or as you say, “linabda al-âmal”—let’s start the work together!

    I wish you all many insightful discussions and meaningful outcomes today.

    Shukran!

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

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

    MIL OSI Economics

  • MIL-OSI Russia: A Stronger Engine for Middle East and North Africa’s Growth

    Source: IMF – News in Russian

    The Managing Director’s Keynote Speech at the Ninth Arab Fiscal Forum, Dubai, UAE

    February 10, 2025

    Assalamu alaikum, your excellencies. I would like to thank Minister Al Hussaini for the United Arab Emirates’ continued warm hospitality in hosting this important annual event, as well as his excellent leadership of the World Bank’s Development Committee.

    It is a privilege to address you at the ninth Arab Fiscal Forum. Over the years, the IMF and Arab countries have always had a strong and productive partnership. Today, this partnership is more vital than ever as the world and this region undergo significant economic, technological, and geopolitical shifts—a point that I will reflect on later.

    In my remarks, I will explore how Arab countries can leverage fiscal policy to transform their economies for the future, and harness technology and investment opportunities for the benefit of their people.

    Global outlook and transformations

    Let me start with an overview of the global and regional economic outlook.

    Global growth is projected to hold at 3.3 percent this year and the next, and then to slow over the next five years, to just above 3 percent. This is well below the historical average.

    For the Middle East and North Africa, we expect growth to rebound to about 3.6 percent in 2025, driven by a recovery in oil production and an easing of regional conflicts. However, as with the global economy, our medium-term outlook still sees growth weaker than before the pandemic.

    Policymakers have generally succeeded in taming inflation, but not everywhere, with inflation picking up again in some countries. This could lead to a divergence in interest rates across countries and higher borrowing costs for emerging market and developing economies.

    On the fiscal side, the legacy of the multiple shocks from the last years leaves public finances under significant strain in many countries. Global public debt is projected to hit 100 percent of global GDP by 2030. Many countries in this region face similar pressures, with debt levels exceeding 70 percent of GDP. This poses the risk of them becoming trapped in a low-growth, high-debt scenario.

    Governments have the difficult task of containing high debt levels in the face of rising spending needs. This region faces the pressing need to create jobs, enhance social safety nets, build resilience to more frequent natural disasters, and support economic diversification. The demands of national security and post-conflict reconstruction are also substantial.

    This is all happening at a time of significant global transformations, which are creating a more uncertain and challenging environment for policymaking. We know, for instance, that trade is no longer the engine of growth that is used to be—unlike the decades of the 1990s and 2000s when global trade grew much faster than global GDP, the two are now growing at roughly the same rate. Governments around the world are shifting policy priorities: the new US administration has been clear that it intends to take action in the areas of trade, tax and spending, deregulation, and technology/digital assets. And the technology revolution—especially AI—is upon us and is set to transform the way we live and work, perhaps as early as the next five years.

    These rapid transformations mean the recipes of the past may no longer provide the path to prosperity. Economies will need to be agile, adaptable and resilient—these will be the ingredients for future success.

    How can the MENA region find these ingredients for success and avoid a low-growth, high-debt scenario?

    Building adaptable and more resilient economies

    First, focus on structural changes that increase economic resilience, agility, and long-term growth potential. Too often, countries use fiscal stimulus to boost short-term domestic demand. While this “sugar rush” provides temporary growth, it often fuels inflation and financial turbulence. Instead of merely stepping on the gas, we need a stronger engine.

    Productivity growth is essential for stronger growth and driving up economic performance. Our research in the Arab region shows how to do it: accelerate digitalization, reduce the state’s footprint in the economy, foster trade diversification, and encourage the free flow of capital to dynamic firms.

    Countries in the region that are more digitalized have substantially higher productivity than less-digitalization ones. Some countries are among the most developed in the world in this area. Digital innovation, with AI technologies, is expected to raise UAE’s GDP significantly by 2030. More R&D spending will further enhance productivity.

    Reducing the state’s footprint in the economy and strengthening governance can yield significant benefits. For example, Saudi Arabia’s regulatory improvements have fostered private sector investment, especially in the non-oil economy. The UAE’s National Agenda for Entrepreneurship has supported a vibrant startup community, and Morocco’s New Model of Development aims to spur markets by improving public sector governance.

    Encouraging employment is also a key ingredient for stronger growth. With a growing working-age population, the region has to make the most of its demographic advantage. Creating more private jobs, for women and youth in particular, can lead to more vibrant and inclusive economies. This requires more-flexible labor markets, and investment in education and vocational training. We have recently seen impressive developments in this regard in Oman, Qatar, and Bahrain.

    A second priority is economic diversification. Today’s transformations provide an excellent opportunity to stimulate and reallocate resources toward new economic sectors and services. This could become a robust new growth engine, particularly for oil-exporting countries. Many countries are already investing in new technologies, such as batteries for electric cars; in improving connectivity and in green supply chains, for example.

    Third, in a world where patterns of cooperation are shifting, countries need to look for opportunities to cooperate in new ways. In many cases, this means deepening regional cooperation. The GCC is an excellent example of the benefits of regional integration—one that I can imagine can be emulated elsewhere.

    Building fiscal buffers and institutions  

    Let me turn to the fiscal side.

    Prudent fiscal stance is essential for macroeconomic stability — a prerequisite for a vibrant private sector and economic growth. An overarching priority today is to decisively use fiscal policy to build fiscal buffers, which is essentially the capacity to spend when needed – for example, to respond to shocks, manage and mitigate risks, and meet pressing development and climate-related needs.

    Many countries will need to pursue fiscal consolidation. It is crucial to carefully calibrate the size, pace, and composition of fiscal adjustments, to avoid unduly hampering growth. Tailoring budgetary reforms to each country’s circumstances, with a helping hand for those who lose out, is vital to ensure public support.

    In this context, increasing tax revenues remains a priority. Our research finds significant potential in strengthening domestic tax systems. This requires expanding tax bases, especially as economies diversify. For example, as new sectors grow, including through digitalization, they can become an important source of tax revenues. In addition, digitalization and AI can help modernize tax administrations.

    Domestic taxes will remain the primary source of funding government spending. However, private domestic and external financing will be needed to support the spending needs in the region. Addressing the impact of more frequent natural disasters will potentially require a cumulative $1 trillion in investment by 2030. The financial sector must play a larger role, while governments can enable an investment-friendly environment.

    Several countries in the region require special attention, either to resolve ongoing conflicts or to advance post-conflict reconstruction. I pray that peace and stability can be delivered in Sudan and Yemen. I hope that the ceasefire in Gaza, along with political changes in Syria and Lebanon, can mark new beginnings. The international community’s reconstruction efforts provide a unique opportunity to rebuild better and lay the foundations for stronger growth.

    Let me conclude

    In a world of rapid transformations, it is critical for countries to become more agile, adaptable, and resilient. They need to look for new engines of growth, which will also help avoid a low-growth, high-debt trap.

    The private sector has to be in the lead in transforming economies in the region through entrepreneurship, job creation, and innovation.

    The role of governments is to foster the right environment for this private sector-led growth: by strengthening governance, modernizing public institutions, reducing bureaucracy, encouraging youth and female employment, and improving access to capital. And by designing and communicating policies that put people first and increase social support.

    The IMF remains fully committed to supporting the Middle East and North Africa. Since early 2020, we have approved about $33 billion in financing for the region, most recently in 2024 to help mitigate the impact of conflict. We have also recently reformed our surcharge policy, resulting in important savings for some countries. We have also expanded our capacity development and strengthened our regional presence with resident representative offices, technical assistance centers, and the new regional office in Riyadh.

    We are now stepping up our efforts to support the private sector, with the creation of a new IMF Advisory Council on Entrepreneurship and Growth. I can assure you, this region will be represented on it. And we look forward to the upcoming Al-Ula conference with emerging market economies, to discuss key issues affecting your economies. Jobs, innovation, and productivity—combined with a sound fiscal approach—will mean better prospects for citizens in this region and ultimately more peace and stability.

    Let’s get to work, or as you say, “linabda al-âmal”—let’s start the work together!

    I wish you all many insightful discussions and meaningful outcomes today.

    Shukran!

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

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

    https://www.imf.org/en/News/Articles/2025/02/10/sp-021025-md-keynote-speech-ninth-arab-fiscal-forum

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI: Up to 70% Time Savings Achieved with Fully Integrated Advanced Referral Module of CareCloud’s AI-Enabled EHR

    Source: GlobeNewswire (MIL-OSI)

    Streamlining the Referral Process to Enhance Efficiency and Patient Experience

    SOMERSET, N.J., Feb. 10, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (Nasdaq: CCLD, CCLDO, CCLDP), a leader in healthcare technology and AI-driven solutions, is proud to announce the launch of its new advanced referral module. This innovative solution is designed to simplify the referral process for medical providers and enhance the patient experience through advanced automation and location-based guidance. By optimizing referrals to specialists, the module reduces administrative time and effort, enabling a more streamlined, patient-focused approach. With its automated workflow, healthcare providers can save up to 70% of the time typically spent on generating and managing referrals, allowing them to prioritize patient care.

    92% of surveyed users rated the CareCloud’s advanced referral module as “exceptional”, praising its ease of use, efficiency, and ability to enhance patient satisfaction with one user explaining, “CareCloud’s advanced referral module has transformed how we handle patient referrals in our practice.” Asad Ullah of Mir Neurology & Spine Center continued, “Completing the referral process in real-time during patient visits ensures a seamless experience and faster access to specialty care. With the intuitive interface and location-based specialist recommendations, I can provide personalized options for my patients instantly. What’s even more valuable is that patients no longer have to call back or visit our office to complete or collect their referral forms. This not only improves efficiency but also enhances patient satisfaction by making the referral process more convenient and hassle-free.”

    The key features of CareCloud’s advanced referral module:

    1. Real-Time Referral Completion
      • Medical providers can complete referral forms while the patient is still in the office, ensuring accuracy and efficiency during the visit.
    2. Specialist Recommendations with Location Guidance
      • Integrated maps and location-based tools help doctors recommend specialists near the patient’s home or workplace, ensuring convenience and accessibility.
    3. Secure Patient Notifications
      • Patients receive text messages with a curated list of specialists, including secure links to detailed information such as the specialist’s name, contact details, and more.
    4. Seamless Appointment Booking
      • Patients can contact their chosen specialist and book appointments directly through secure links. Once confirmed, the system automatically forwards the referral form to the specialist.
    5. Patient Access to Referral Documentation
      • Patients can securely download, print, or access their referral forms through their Personal Health Record (PHR), ensuring ease of use and transparency.

    “With 92% of surveyed users rating it as exceptional and the ability to save up to 70% of referral processing time, the Advanced Referral Module is transforming care coordination,” said Hadi Chaudhry, Co-CEO of CareCloud. By automating workflows and providing real-time specialist recommendations, it enhances efficiency for providers and accessibility for patients, improving the overall healthcare experience. This launch reinforces CareCloud’s commitment to reducing administrative burdens and driving innovation in healthcare technology.”

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of AI and technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:

    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:

    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com 

    The MIL Network

  • MIL-OSI: Tower Semiconductor Reports 2024 Fourth Quarter and Full Year Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MIGDAL HAEMEK, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the fourth quarter of 2024 and for the year ended December 31, 2024.

    Fourth Quarter of 2024 Results Overview
    Revenues for the fourth quarter of 2024 were $387 million as compared to $371 million for the third quarter of 2024 and $352 million for the fourth quarter of 2023, representing 5% quarter over quarter growth and 10% year over year growth. The Company met its expressed target of sequential quarter over quarter revenue growth within 2024, resulting in 18% growth fourth quarter over first quarter.

    Gross profit for the fourth quarter of 2024 was $87 million, compared to $84 million for the fourth quarter of 2023. During the fourth quarter of 2024, the Company took on for the first time its portion of incremental costs of the greenfield Agrate facility.

    Operating profit for the fourth quarter of 2024 was $46 million as compared to $45 million for the fourth quarter of 2023.

    Net profit for the fourth quarter of 2024 was $55 million, reflecting $0.49 basic and diluted earnings per share. Net profit for the fourth quarter of 2023 was $54 million, or $0.49 basic and $0.48 diluted earnings per share.

    Cash flow generated from operating activities in the fourth quarter of 2024 was $101 million and investments in property and equipment, net were $93 million.

    Full year 2024 Results Overview
    Revenues for the full year of 2024 were $1.44 billion, gross profit was $339 million, operating profit was $191 million. Net profit for the full year of 2024 was $208 million, or $1.87 basic and $1.85 diluted earnings per share. For the full year of 2023, revenues were $1.42 billion, gross profit was $354 million, operating profit was $547 million and included $314 million, net, from the Intel merger contract termination and $33 million of restructuring income, net, from the previously disclosed reorganization and restructure of our Japan operations during 2022. Net profit for the full year of 2023 was $518 million, or $4.70 basic and $4.66 diluted earnings per share and included $290 million, net, due to the merger contract termination payment by Intel and $11 million restructuring income, net.

    Cash flow generated from operating activities for the year ended December 31, 2024, was $449 million. Investments in property and equipment, net for the year ended December 31, 2024, were $432 million and debt payments, net totaled $32 million.

    6” Fab Consolidation Update
    During the fourth quarter of 2024, the lower margin legacy of 150mm flows were discontinued in Fab1, with last Fab outs occurring in January 2025. The forward-looking strategic flows have been transferred into the Fab2 200mm factory. This strategic integration enables the Company to streamline its production processes, enhancing overall efficiency.

    Business Outlook
    Tower Semiconductor guides revenues for the first quarter of 2025 to be $358 million, with an upward or downward range of 5%. First quarter mid-range guidance reflects about 10% year-over-year growth.

    Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated:
    “With the close of 2024, we are pleased with our progress, in having brought to market highly differentiated end application advancing platforms, hence strengthening our position for sustainable growth. Our 2025 revenue target is year-over-year growth, with sequential quarter-over-quarter revenue growth, and an acceleration in the second half of the year. This momentum is fueled by increasing production shipments as our previously announced capacity investments progress through the final stages of customer qualifications.”

    Ellwanger further added: “Our commitment to customer partnered innovation and streamlined execution continues to drive our ability to meet the growing and evolving needs of our customers in a quickly changing business environment, whilst expanding our available market size and share. We look forward to the year ahead with confidence and enthusiasm.”

    Teleconference and Webcast
    Tower Semiconductor will host an investor conference call today, Monday, February 10, 2025, at 10:00 a.m. Eastern time (9:00 a.m. Central time, 8:00 a.m. Mountain time, 7:00 a.m. Pacific time and 5:00 p.m. Israel time) to discuss the Company’s financial results for the fourth quarter and full year of 2024 and its business outlook.

    The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at ir.towersemi.com. The pre-registration form required for dial-in participation is accessible here. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. To access the webcast, click here. The teleconference will be available for replay for 90 days.

    Non-GAAP Financial Measures
    The Company presents its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial information included in the tables below includes unaudited condensed financial data. Some of the financial information, which may be used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, which we may describe as adjusted financial measures and/or reconciled financial measures, are non-GAAP financial measures as defined in Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our Company. These adjusted financial measures are calculated excluding the following: (i) amortization of acquired intangible assets as included in our costs and expenses, (ii) compensation expenses in respect of equity grants to directors, officers, and employees as included in our costs and expenses, (iii) merger contract termination fees received from Intel, net of associated cost and taxes following the previously announced Intel contract termination as included in net profit in 2023 and (iv) restructuring income, net, which includes income, net of cost and taxes associated with the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, which occurred during 2022, as included in net profit. These adjusted financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the adjusted financial measures used and/or presented in this release, as well as a reconciliation between the adjusted financial measures and the comparable GAAP financial measures. As used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, as well as may be included and calculated in the tables herein, the term Earnings Before Interest Taxes, Depreciation and Amortization which we define as EBITDA consists of operating profit in accordance with GAAP, excluding (i) depreciation expenses, which include depreciation recorded in cost of revenues and in operating cost and expenses lines (e.g., research and development related equipment and/or fixed other assets depreciation), (ii) stock-based compensation expense, (iii) amortization of acquired intangible assets, (iv) merger contract termination fees received from Intel, net of associated cost following the previously announced Intel contract termination, as included in operating profit and (v) restructuring income, net in relation to the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, as included in operating profit. EBITDA is reconciled in the tables below and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company from GAAP operating profit. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, are not a required GAAP financial measure and may not be comparable to a similarly titled measure employed by other companies. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Net Cash, as may be used and/or presented in this release and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is comprised of cash, cash equivalents, short-term deposits, and marketable securities less debt amounts as presented in the balance sheets included herein. The term Net Cash is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for cash, debt, operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Free Cash Flow, as used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is calculated to be net cash provided by operating activities (in the amounts of $101 million, $125 million and $126 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $449 million and $677 million for the years ended December 31, 2024 and December 31, 2023, respectively (less cash used for investments in property and equipment, net (in the amounts of $93 million, $128 million and $136 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $432 million and $432 million for the years ended December 31, 2024 and December 31, 2023, respectively). The term Free Cash Flow is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing, and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP.

    About Tower Semiconductor
    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    CONTACT:
    Liat Avraham | Investor Relations | +972-4-6506154 | liatavra@towersemi.com

    Forward-Looking Statements
    This release, as well as other statements and reports filed, stated and published in relation to this quarter’s results, includes certain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, projections and statements with respect to our future business, financial performance and activities. The use of words such as “projects”, “expects”, “may”, “targets”, “plans”, “intends”, “committed to”, “tracking”, or words of similar import, identifies a statement as “forward-looking.” Actual results may vary from those projected or implied by such forward-looking statements and you should not place any undue reliance on such forward-looking statements, which describe information known to us only as of the date of this release. Factors that could cause actual results to differ materially from those projected or implied by such forward-looking statements include, without limitation, risks and uncertainties associated with: (i) demand in our customers’ end markets, (ii) reliance on acquisitions and/or gaining additional capacity for growth, (iii) difficulties in achieving acceptable operational metrics and indices in the future as a result of operational, technological or process-related problems, (iv) identifying and negotiating with third-party buyers for the sale of any excess and/or unused equipment, inventory and/or other assets, (v) maintaining current key customers and attracting new key customers, (vi) over demand for our foundry services resulting in high utilization and its effect on cycle time, yield and on schedule delivery, as well as customers potentially being placed on allocation, which may cause customers to transfer their business to other vendors, (vii) financial results that may fluctuate from quarter to quarter, making it difficult to forecast future performance, (viii) our debt and other liabilities that may impact our financial position and operations, (ix) our ability to successfully execute acquisitions, integrate them into our business, utilize our expanded capacity and find new business, (x) fluctuations in cash flow, (xi) our ability to satisfy the covenants stipulated in our agreements with our debt holders, (xii) pending litigation, (xiii) meeting the conditions set in approval certificates and other regulations under which we received grants and/or royalties and/or any type of funding from the Israeli, US and/or Japan governmental agencies, (xiv) receipt of orders that are lower than the customer purchase commitments and/or failure to receive customer orders currently expected, (xv) possible incurrence of additional indebtedness, (xvi) the effects of global recession, unfavorable economic conditions and/or credit crisis, (xvii) our ability to accurately forecast financial performance, which is affected by limited order backlog and lengthy sales cycles, (xviii) possible situations of obsolete inventory if forecasted demand exceeds actual demand when we create inventory before receipt of customer orders, (xix) the cyclical nature of the semiconductor industry and the resulting periodic overcapacity, fluctuations in operating results and future average selling price erosion, (xx) financing capacity acquisition related transactions, strategic and/or other growth or M&A opportunities, including funding Agrate fab’s significant 300mm capacity investments and acquisition or funding of equipment and other fixed assets associated with the capacity corridor transaction with Intel as announced in September 2023, in addition to other capacity and capability expansion plans, and the possible unavailability of such financing and/or the availability of such financing on unfavorable terms, (xxi) operating our facilities at sufficient utilization rates necessary to generate and maintain positive and sustainable gross, operating and net profit, (xxii) the purchase of equipment and/or raw material (including purchases beyond our needs), the timely completion of the equipment installation, technology transfer and raising the funds therefor, (xxiii) product returns and defective products, (xxiv) our ability to maintain and develop our technology processes and services to keep pace with new technology, including artificial intelligence, evolving standards, changing customer and end-user requirements, new product introductions and short product life cycles, (xxv) competing effectively, (xxvi) the use of outsourced foundry services by both fabless semiconductor companies and integrated device manufacturers, (xxvii) our dependence on intellectual property rights of others, our ability to operate our business without infringing others’ intellectual property rights and our ability to enforce our intellectual property against infringement, (xxviii) the Fab 3 landlord’s alleged claims that the noise abatement efforts made thus far are not adequate under the terms of the amended lease that caused him to request a judicial declaration that there was a material non-curable breach of the lease and that he would be entitled to terminate the lease, as well the ability to extend such lease or acquire the real estate and obtain the required local state and/or approvals required to be able to continue operations beyond the current lease term, (xxix) retention of key employees and recruitment and retention of skilled qualified personnel, (xxx) exposure to inflation, currency rates (mainly the Israeli Shekel, the Japanese Yen and the Euro) and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of our traded securities, (xxxi) meeting regulatory requirements worldwide, including export, environmental and governmental regulations, as well as risks related to international operations, (xxxii) potential engagement for fab establishment, joint venture and/or capital lease transactions for capacity enhancement in advanced technologies, including risks and uncertainties associated with the Agrate fab and the capacity corridor transaction with Intel as announced in September 2023, such as their qualification schedule, technology, equipment and process qualification, facility operational ramp-up, customer engagements, cost structure, required investments and other terms, which may require additional funding to cover their significant capacity investment needs and other payments, the availability of which funding cannot be assured on favorable terms, if at all, (xxxiii) potential liabilities, cost and other impacts that may be incurred or occur due to reorganization and consolidation of fabrication facilities, including the impact of cessation of operations of our facilities, including with regard to our 6 inch facility, (xxxiv) potential security, cyber and privacy breaches, (xxxv) workforce that is not unionized which may become unionized, and/or workforce that is unionized and may take action such as strikes that may create increased cost and operational risks, (xxxvi) the issuance of ordinary shares as a result of exercise and/or vesting of any of our employee equity, as well as any sale of shares by any of our shareholders, or any market expectation thereof, as well as the issuance of additional employee stock options and/or restricted stock units, or any market expectation thereof, which may depress the market value of the Company and the price of the Company’s ordinary shares and in addition may impair our ability to raise future capital, and (xxxvii) climate change, business interruptions due to floods, fires, pandemics, earthquakes and other natural disasters, the security situation in Israel, global trade “war” and the current war in Israel, including the potential inability to continue uninterrupted operations of the Israeli fab, impact on global supply chain to and from the Israeli fab, power interruptions, chemicals or other leaks or damages as a result of the war, absence of workforce due to military service as well as risk that certain countries will restrict doing business with Israeli companies, including imposing restrictions if hostilities in Israel or political instability in the region continue or exacerbate, and other events beyond our control. With respect to the current war in Israel, if instability in neighboring states occurs, Israel could be subject to additional political, economic, and military confines, and our Israeli facility’s operations could be materially adversely affected. Any current or future hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners, or a significant downturn in the economic or financial condition of Israel, could have a material adverse effect on our business, financial condition and results of operations.

    A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading “Risk Factors” in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)  
    (dollars in thousands)  
      December 31,   December 31,  
      2024   2023  
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents $ 271,894   $ 260,664  
    Short-term deposits 946,351   790,823  
    Marketable securities   184,960  
    Trade accounts receivable 211,932   154,067  
    Inventories 268,295   282,688  
    Other current assets 61,817   35,956  
    Total current assets 1,760,289   1,709,158  
    PROPERTY AND EQUIPMENT, NET 1,286,622   1,155,929  
    GOODWILL AND OTHER INTANGIBLE ASSETS, NET 10,196   12,115  
    OTHER LONG-TERM ASSETS 23,378   41,315  
    TOTAL ASSETS $ 3,080,485   $ 2,918,517  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    CURRENT LIABILITIES        
    Short-term debt $ 48,376   $ 58,952  
    Trade accounts payable 130,624   139,128  
    Deferred revenue and customers’ advances 21,655   18,418  
    Other current liabilities 84,409   60,340  
    Total current liabilities 285,064   276,838  
    LONG-TERM DEBT 132,437   172,611  
    LONG-TERM CUSTOMERS’ ADVANCES 7,690   25,710  
    OTHER LONG-TERM LIABILITIES 15,114   16,319  
    TOTAL LIABILITIES 440,305   491,478  
    TOTAL SHAREHOLDERS’ EQUITY 2,640,180   2,427,039  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 3,080,485   $ 2,918,517  
             
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    REVENUES $ 387,191   $ 370,512   $ 351,711  
    COST OF REVENUES 300,338   277,451   267,294  
    GROSS PROFIT 86,853   93,061   84,417  
    OPERATING COSTS AND EXPENSES:            
    Research and development 20,622   19,867   20,849  
    Marketing, general and administrative 19,812   17,432   18,401  
      40,434   37,299   39,250  
                 
    OPERATING PROFIT 46,419   55,762   45,167  
    FINANCING AND OTHER INCOME, NET 8,315   6,104   16,682  
    PROFIT BEFORE INCOME TAX 54,734   61,866   61,849  
    INCOME TAX EXPENSE, NET (2,149)   (7,026)   (10,130)  
    NET PROFIT 52,585   54,840   51,719  
    Net loss (profit) attributable to non-controlling interest 2,553   (193)   2,128  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    BASIC EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.49  
    Weighted average number of shares 111,493   111,237   110,796  
    DILUTED EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.48  
    Weighted average number of shares 112,967   112,474   111,308  
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    Stock based compensation 10,684   8,611   6,662  
    Amortization of acquired intangible assets 574   448   442  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 66,396   $ 63,706   $ 60,951  
    ADJUSTED EARNINGS PER SHARE:            
    Basic $ 0.60   $ 0.57   $ 0.55  
    Diluted $ 0.59   $ 0.57   $ 0.55  
                 
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Year ended  
      December 31,  
      2024   2023  
    REVENUES $ 1,436,122   $ 1,422,680  
    COST OF REVENUES 1,096,680   1,069,161  
    GROSS PROFIT 339,442   353,519  
    OPERATING COSTS AND EXPENSES:        
    Research and development 79,434   79,808  
    Marketing, general and administrative 74,964   72,454  
    Restructuring income, net * (6,270)   (32,506)  
    Merger-contract termination fee, net **   (313,501)  
      148,128   (193,745)  
             
    OPERATING PROFIT 191,314   547,264  
    FINANCING AND OTHER INCOME, NET 26,113   37,578  
    PROFIT BEFORE INCOME TAX 217,427   584,842  
    INCOME TAX EXPENSE, NET (10,205)   (65,312)  
    NET PROFIT 207,222   519,530  
    Net loss (profit) attributable to non-controlling interest 642   (1,036)  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    BASIC EARNINGS PER SHARE $ 1.87   $ 4.70  
    Weighted average number of shares 111,153   110,289  
    DILUTED EARNINGS PER SHARE $ 1.85   $ 4.66  
    Weighted average number of shares 112,343   111,216  
    * Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022.  
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost.  
             
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    Stock based compensation 33,837   27,931  
    Amortization of acquired intangible assets 1,918   1,923  
    Restructuring income, net *** (2,634)   (11,224)  
    Merger-contract termination fee, net ****   (289,988)  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 240,985   $ 247,136  
    ADJUSTED EARNINGS PER SHARE:        
    Basic $ 2.17   $ 2.24  
    Diluted $ 2.15   $ 2.22  
    *** Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022, net of tax.
    **** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost and tax.
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)  
    (dollars in thousands)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 270,979   $ 265,313   $ 314,816  
    Net cash provided by operating activities 100,816   124,743   126,098  
    Investments in property and equipment, net (93,396)   (127,624)   (136,426)  
    Debt received (repaid), net 2,795   (16,402)   (8,950)  
    Effect of Japanese Yen exchange rate change over cash balance (4,972)   5,537   2,101  
    Proceeds from (investment in) deposits, marketable securities and other assets, net (4,328)   19,412   (36,975)  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 270,979   $ 260,664  
      Year ended      
      December 31,   December 31,      
      2024   2023      
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 260,664   $ 340,759      
    Net cash provided by operating activities 448,682   676,561 *    
    Investments in property and equipment, net (431,653)   (432,184)      
    Debt repaid, net (32,455)   (32,346)      
    Proceeds from investment in subsidiary   1,932      
    Effect of Japanese Yen exchange rate change over cash balance (4,758)   (5,395)      
    Proceeds from (investment in) deposits, marketable securities and other assets, net 31,414   (288,663)      
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664      
    * Merger-contract termination fee received from Intel during 2023, net of associated cost, in the amount of $313,501  
    was included within the net cash provided by operating activities for the year ended December 31, 2023.  
     TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)  
    (dollars in thousands)  
      Year ended  
      December 31,   December 31,  
      2024   2023  
    CASH FLOWS – OPERATING ACTIVITIES        
    Net profit for the period $ 207,222   $ 519,530  
    Adjustments to reconcile net profit for the period        
    to net cash provided by operating activities:        
    Income and expense items not involving cash flows:        
    Depreciation and amortization * 266,279   258,021  
    Effect of exchange rate differences and fair value adjustment 133   (1,632)  
    Other expense (income), net 24,721   (7,047)  
    Changes in assets and liabilities:        
    Trade accounts receivable (60,169)   (3,160)  
    Other current assets (33,992)   (9,541)  
    Inventories 4,778   8,682  
    Trade accounts payable 35,784   (8,254)  
    Deferred revenue and customers’ advances (14,783)   (35,676)  
    Other current liabilities 22,021   (70,163)  
    Other long-term liabilities (3,312)   25,801  
    Net cash provided by operating activities 448,682   676,561 **
    CASH FLOWS – INVESTING ACTIVITIES        
    Investments in property and equipment, net (431,653)   (432,184)  
    Proceeds from (investments in) deposits, marketable securities and other assets, net 31,414   (288,663)  
    Net cash used in investing activities (400,239)   (720,847)  
    CASH FLOWS – FINANCING ACTIVITIES        
    Debt repaid, net (32,455)   (32,346)  
    Proceeds from investment in subsidiary   1,932  
    Net cash used in financing activities (32,455)   (30,414)  
    EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE (4,758)   (5,395)  
             
    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,230   (80,095)  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 260,664   340,759  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664  
    * Includes amortization of acquired intangible assets and stock based compensation in the amounts of $35,755  
    and $29,854 for the years ended December 31, 2024, and December 31, 2023, respectively.      
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost, in the amount
    of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
             

    The MIL Network

  • MIL-OSI: Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Inside information
    10 February 2025 at 08:00 EET

    Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark

    Espoo, Finland – Nokia today announced a leadership transition. Nokia’s President and Chief Executive Officer, Pekka Lundmark, has informed the Board that he will step down. The Board has appointed Justin Hotard as the next President and Chief Executive Officer of Nokia. He will start in his new role on 1 April 2025. 

    Hotard joins Nokia with more than 25 years’ experience with global technology companies, driving innovation, technology leadership and delivering revenue growth. He currently leads the Data Center & AI Group at Intel. Prior to this role, he held several leadership roles at large technology companies, including Hewlett Packard Enterprise and NCR Corporation. He will be based at Nokia’s headquarters in Espoo, Finland.

    “I am delighted to welcome Justin to Nokia. He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data center markets, which are critical areas for Nokia’s future growth. In his previous positions, and throughout the selection process, he has demonstrated the strategic insight, vision, leadership and value creation mindset required for a CEO of Nokia,” said Sari Baldauf, Chair of Nokia’s Board of Directors.

    “I am honored by the opportunity to lead Nokia, a global leader in connectivity with a unique heritage in technology. Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI. I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation,” said Justin Hotard.

    After leading Nokia since 2020, Nokia’s current President and CEO, Pekka Lundmark, has decided to step down from executive roles and move on to the next phase of his career.

    “I want to thank Pekka for his significant contributions to Nokia, he will leave with our highest respect. The planning for this leadership transition was initiated when Pekka indicated to the Board that he would like to consider moving on from executive roles when the repositioning of the business was in a more advanced stage, and when the right successor had been identified. Now, both of those conditions have been met, and he has decided to step down,” said Sari Baldauf.

    She continued: “Pekka joined at a difficult time in Nokia’s history. Under his tenure, Nokia has re-established its technology leadership in 5G radio networks and built a strong position in cloud-native core networks. Network Infrastructure has delivered growth and significant profit improvement, and Nokia has secured the longevity of its patent licensing business. At the same time, Nokia has built strong foundations in new growth areas, refreshed the company’s brand and culture, transformed its operating model and rebalanced its portfolio.”

    “Leading Nokia has been a privilege. When I returned to Nokia in 2020, I called it a homecoming, and it really has felt like one. I am proud of the work our brilliant team has done in re-establishing our technology leadership and competitiveness, and positioning the company for growth in data centers, private wireless and industrial edge, and defense. This is the right time for me to move on. I have led listed companies for more than two decades and although I do not plan to stop working, I want to move on from executive roles to work in a different capacity, such as a board professional. Justin is a great choice for Nokia and I look forward to working with him on a smooth transition,” said Nokia’s President and CEO Pekka Lundmark. 

    Lundmark will step down on 31 March 2025. He will continue as an advisor to the new CEO until the end of the year. 

    An event for media and financial analysts will be held today at 10:00 EET. Link to join the webcast: https://edge.media-server.com/mmc/p/hjd9zmyx.

    Journalists and financial analysts, who wish to ask a question during the event, must dial-in to an audio-only conference call line. The attendees must pre-register here: https://dpregister.com/sreg/10196883/fe7f25be61.

    If you wish to ask a question on the call, you must mute the webcast and only use the participant dial-in during the Q&A session as there is a delay of approximately 15-30 seconds.

    Journalists and financial analysts can join via webcast or in person (Nokia’s Executive Experience Center at Karakaari 18, Espoo). Members of the media and analysts who want to participate in person, are kindly requested to show their press credential or valid ID on arrival.

    Justin Hotard, CV

    Born: 1974

    Nationality: US national 

    Experience:

    • Intel, Santa Clara, CA, 2024–present: Executive Vice President and General Manager, Data Center & AI Group
    • Hewlett Packard Enterprise, Houston, TX / Tokyo, Japan, 2015–2024: various leadership positions including:
      • Executive Vice President and General Manager, High Performance Computing, AI & Labs
      • President and Managing Director, Japan and China
    • NCR Corporation, Duluth, GA, 2007–2014: various leadership positions including: President and General Manager, Global Small Business Cloud Platform
    • Symbol Technologies (acquired by Motorola, Inc), Holtsville, NY, 2003–2007: Director, Product Management and Senior Manager, Corporate Development
    • Motorola, Inc, Arlington, IL, 1996–2000: Senior Systems Engineer

    Education:

    • Master of Business Administration, MIT Sloan School of Management, Cambridge, MA, 2002
    • Bachelor of Science in Electrical Engineering, University of Illinois Urbana-Champaign, Urbana, IL, 1997

    About Nokia 
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    FORWARD-LOOKING STATEMENTS

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to our ongoing transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “see”, “plan” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties specified in our 2023 annual report on Form 20-F published on 29 February 2024 under Operating and financial review and prospects – Risk factors. 

    The MIL Network

  • MIL-OSI China: ‘Ne Zha 2’ smashes box office records, becomes first non-Hollywood film to hit 1 bln USD

    Source: China State Council Information Office 3

    People walk past a poster of the animated feature “Ne Zha 2” at a cinema in Shenyang, northeast China’s Liaoning Province, Feb. 6, 2025. (Xinhua/Li Gang)

    Chinese animated blockbuster “Ne Zha 2” has shattered multiple box office records, becoming the first film to cross 1 billion U.S. dollars in a single market and the first non-Hollywood title to join the coveted billion-dollar club.

    The sophomore outing in the mythological franchise has also set a new record for all-time admissions in China, drawing over 160 million moviegoers, per data from ticketing platforms Maoyan and Beacon.

    Helmed by Yang Yu, known as Jiaozi, the film hit the big screen during the lucrative Chinese New Year frame on Jan. 29, surpassing 2017’s “Wolf Warrior 2” to become China’s most-watched film. Meanwhile, its total revenue (including presales) hit 8 billion yuan (about 1.12 billion U.S. dollars) by Sunday.

    In just eight days and five hours after its release, “Ne Zha 2” became China’s highest-grossing film of all time on Thursday, exceeding the 5.77 billion yuan record set by “The Battle at Lake Changjin.” A day later, it overtook “Star Wars: The Force Awakens” to become the highest-grossing film ever in a single market, reaching over 6.79 billion yuan (including presales) in China on Friday.

    A follow-up to the animated sensation “Ne Zha,” which grossed 5 billion yuan and topped the country’s box office charts in 2019, the sequel has captivated audiences with its breathtaking visuals, rich storytelling and deep cultural resonance.

    The record-breaking run makes “Ne Zha 2” not just a box office titan but a cultural phenomenon, further underscoring China’s ability to produce homegrown blockbusters that strike a chord with domestic audiences.

    Industry analysts are now watching closely to see if “Ne Zha 2” can sustain its momentum and set even higher benchmarks in the days ahead. Maoyan on Sunday night once again raised its domestic box office forecast for the film, now projecting it to surpass 12 billion yuan — up from its estimate of over 10.8 billion yuan just three days ago. This marks the first time a Chinese film has ever been expected to cross the 10-billion-yuan threshold.

    The sequel continues the story of the iconic character from Chinese mythology. Set after the events of the first film, it follows Nezha and Aobing as their souls are saved but their physical forms face dissolution. With the help of the immortal Taiyi Zhenren, who uses the Seven-Colored Lotus to reconstruct their bodies, the two heroes must face numerous challenges.

    Taking audiences on an emotional journey that blends action, humor and heart, “Ne Zha 2” alone accounted for half of what has amounted to a historic 2025 Spring Festival holiday box office total — a total which surpassed 9.5 billion yuan from Jan. 28 to Feb. 4.

    This robust performance marks a major win for China’s film industry, which faced a tough year in 2024, with box office revenues down 23 percent from 2023 and 34 percent from the pre-pandemic peak in 2019.

    In this context, the record-breaking success of “Ne Zha 2” is being hailed as a much-needed boost for the sector.

    People walk out of a movie screening room at a cinema in Kunming, southwest China’s Yunnan Province, Feb. 3, 2025. (Photo by Peng Yikai/Xinhua)

    Maoyan analyst Lai Li described the film as a major milestone, particularly for China’s growing animation industry. “The success of ‘Ne Zha 2’ has set the tone for the year,” Lai said. “It highlights the incredible resilience and growth potential of China’s film market, and we’re excited to see how the rest of 2025 unfolds.”

    Beyond its domestic success, “Ne Zha 2” is poised to make waves internationally as a cultural bridge, offering global audiences a glimpse into China’s rich mythology and traditions.

    Jiaozi, who rose to fame following the success of “Ne Zha,” has emphasized that the international success of Chinese cinema depends on the intrinsic charm of the works themselves. “It’s about whether a script, a story and its characters can move audiences worldwide,” he said in a video interview. “These are not things that can be outsourced.”

    Jiaozi also shared the personal journey the “Ne Zha” films have taken him on, explaining how the series has evolved from his own passion into a broad cultural phenomenon.

    “The first step was creating something I loved, and domestic audiences loved it too,” he said. “Over time, I’ve worked to improve it, to refine my craft. I believe that one day, new ideas, deeper meanings, and new soul will emerge from it, and the whole world will be able to appreciate it.”

    His views have been echoed by film industry experts.

    Yin Hong, vice chairman of the China Film Association and a professor at Tsinghua University, attributes the film’s success to its sophisticated narrative layers.

    “The film’s reimagining of mythology, with its portrayal of demon-spirit duality, conflicts between magical and celestial realms, and struggles between heaven and the underwater world, creates a dramatic tension that works on multiple levels,” Yin told Xinhua.

    “It captures universal themes of childhood development, forming an Oedipal archetype that bridges individual and societal narratives,” Yin said, particularly praising the film’s subtle yet masterful storytelling.

    Rao Shuguang, president of the China Film Critics Association, praised the film for its fusion of traditional Chinese mythology and modern storytelling, which makes it highly relatable to contemporary audiences.

    “The film proves that a good movie needs a compelling story, sharp storytelling, and well-developed characters,” Rao said, expressing hope that China will continue to produce high-quality films that engage audiences and draw more people to theaters.  

    MIL OSI China News

  • MIL-OSI Asia-Pac: India’s quantum leap testified by global success stories like Vaccine, Chandrayaan, says Dr. Jitendra Singh

    Source: Government of India (2)

    India’s quantum leap testified by global success stories like Vaccine, Chandrayaan, says Dr. Jitendra Singh

    India’s Scientific Rise: From DNA Vaccines to Space Tech, Dr. Jitendra Singh Highlights Key Achievements

    Traditional Knowledge is India’s Exclusive Asset, Says Dr. Jitendra Singh

    Integration is No Longer an Option But a Necessity: Dr. Jitendra Singh Calls for Greater Scientific Collaboration

    Union Minister Dr. Jitendra Singh Inaugurates Vigyan Bharati’s New Premises in New Delhi

    Posted On: 09 FEB 2025 5:10PM by PIB Delhi

    Union Minister Dr. Jitendra Singh said here today that India’s quantum leap was testified by global success stories like Vaccine and Chandrayaan.

    He was speaking after inaugurating the new premises of “Vigyan Bharati” in the national capital, describing the same as a long-felt need. He emphasized that the office would serve as a center for exchange of ideas and a seat of learning.

    Addressing the ceremony, Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh stated that India is witnessing a transformative era in science under the leadership of Prime Minister Narendra Modi. He highlighted how the Prime Minister not only encourages but also provides unwavering support to the scientific community, strengthening it with resources and enabling collaborations with non-governmental sectors to achieve the best outcomes.

    Reflecting on the advancements of the past decade, Dr. Jitendra Singh stressed that while India has always had immense scientific acumen and talent, the missing element was commitment and prioritization from the political leadership—something that is now being actively addressed under PM Modi’s governance.

    Dr. Jitendra Singh underscored the significant progress India has made, particularly in healthcare. He noted that India, once not taken seriously in curative healthcare, is now emerging as a global leader in preventive healthcare. He proudly mentioned India’s achievements, including: The first DNA vaccine developed during the pandemic. The first indigenous HPV vaccine to combat cervical cancer and rapid advancements in space technology, despite a late start in the sector. He also spoke about India’s commitment to global climate change efforts, reaffirming the country’s target of achieving net-zero emissions by 2070.

    Dr. Jitendra Singh highlighted the importance of Traditional Knowledge Digital Library (TKDL), calling it a valuable repository of indigenous wisdom. He cited examples such as:
    The Konark Temple in Odisha, which remained intact even after the super cyclone of 2000, showcasing India’s architectural resilience.

    The growing interest in traditional medicine, as seen during the pandemic when the West explored homeopathy and naturopathy for potential remedies. He also referenced India’s success in using steel slag for road construction in Arunachal Pradesh, in collaboration with the Tata Group, drawing parallels with the durable routes of Ajanta and Ellora that have withstood the test of time.

    Quoting Dr. Syama Prasad Mookerjee, Dr. Singh remarked, “By remaining committed to our legacy, we should not deprive ourselves of what is happening across the world.” He urged Vigyan Bharati to act as an interface for identifying initiatives and fostering collaborations, similar to how IN-SPACe and BIRAC have become successful platforms for the space and biotechnology sectors, respectively.

    He also proudly announced India’s recent breakthrough in pharmaceuticals with the creation of the indigenous antibiotic ‘Nafithromycin’, positioning India as a leader in both traditional and cutting-edge technologies.

    Dr. Jitendra Singh emphasized that integration is no longer an option but a necessity and called upon Vigyan Bharati to become a key medium for broader scientific integration. He expressed confidence that such efforts would drive India’s continued rise as a global powerhouse in science and technology.

    *****

    NKR/PSM

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Pariksha Pe Charcha

    Source: Government of India

    Pariksha Pe Charcha

    Empowering Students, Transforming Lives

    Posted On: 09 FEB 2025 12:21PM by PIB Delhi

    Examinations are often a source of stress for students and their families, but the “Pariksha Pe Charcha” (PPC) initiative by Prime Minister Narendra Modi has been transforming this narrative. Scheduled for 11 AM on February 10, 2025, this year’s PPC will once again serve as an interactive platform where the Prime Minister directly engages with students, teachers, and parents. Each edition of PPC highlights innovative approaches to tackle exam-related anxiety, fostering a celebratory attitude toward learning and life.

    The Record-Breaking PPC 2025

    The 8th edition of PPC, scheduled on 10 February 2025, has already set a new benchmark. With over 5 crore participation, this year’s program exemplifies its status as a Jan Andolan, inspiring collective celebration of learning This year, 36 students from all State and UT, have been selected from State / UT Board Government schools, Kendriya Vidyalaya, Sainik School, Eklavya Model Residential School, CBSE and Navodaya Vidyalaya. Pariksha Pe Charcha 2025 will feature seven insightful episodes, bringing together renowned personalities from diverse fields to guide students on essential aspects of life and learning. Each episode will address key themes:

     

    • Sports & DisciplineM.C. Mary Kom, Avani Lekhara, and Suhas Yathiraj will discuss goal setting, resilience, and stress management through discipline.
    • Mental HealthDeepika Padukone will emphasize the importance of emotional well-being and self-expression.
    • Nutrition – Experts Shonali Sabherwal, Rujuta Diwekar, and Revant Himatsingka (Food Farmer) will highlight healthy eating habits, sleep, and overall well-being.
    • Technology & FinanceGaurav Chaudhary (Technical Guruji) and Radhika Gupta will explore technology as a learning tool and financial literacy.
    • Creativity & PositivityVikrant Massey and Bhumi Pednekar will inspire students to cultivate positivity and manage negative thoughts.
    • Mindfulness & Mental PeaceSadhguru will introduce practical mindfulness techniques for mental clarity and focus.
    • Stories of Success – Toppers from UPSC, IIT-JEE, CLAT, CBSE, NDA, ICSE, and past PPC participants will share how PPC shaped their preparation and mindset.

     

    A Journey Through the Years

     

     2024: Nationwide participation.

    The seventh edition of PPC, held on January 29, 2024, was expansive with 2.26 crore registrations on the MyGov portal, it reflects the program’s immense popularity and relevance. For the first time, 100 students from Eklavya Model Residential Schools (EMRS) participated, symbolizing the inclusivity of the initiative. The event was held in a town-hall format at Bharat Mandapam, ITPO, Pragati Maidan, New Delhi, with approximately 3,000 participants, including students, teachers, parents, and winners of the Kala Utsav.

     

    Pariksha Par Charcha 2024

     

    2023: Widening Participation 

    The 6th Edition of PPC was conducted on 27 January 2023 at Talkatora Stadium, New Delhi. Hon’ble Prime Minister of India interacted with students, teachers and parents during this programme and gave his valuable suggestions/ inputs to all stakeholders. The programme was telecast live by many TV Channels and YouTube channels. 718110 students, 42337 employees and 88544 Parents viewed the live programme of PPC-2023. The interaction of the Hon’ble Prime Minister of India with students, teachers and parents was inspiring, motivating thought-provoking for all.

    Pariksha Par Charcha 2023

     

    2022: The Revival of Physical Interactions

    5th Edition of PPC was conducted on 1st April 2022 at Talkatora Stadium, New Delhi. Hon’ble Prime Minister of India has interacted with students, teachers and parents in this programme and has given them his valuable suggestions/ inputs. 9,69,836 students, 47,200 employee and 1,86,517 parents viewed the live programme of Pariksha Pe Charcha-2022. The programme was telecast live by the many TV Channels and YouTube channel etc

    Pariksha Par Charcha 2022

    2021: The Virtual Connection

    In response to the COVID-19 pandemic, the fourth edition of PPC was held online on 7 April 2021. Despite the challenges posed by the pandemic, the interaction continued to inspire students and their families. The focus shifted to resilience and adaptability, teaching life skills to help students navigate uncertain times.

    Pariksha Par Charcha 2021

     

    2020: Expanding Participation

    The unique Town Hall format of the event in which the Hon’ble Prime Minister directly interacted with school students at the Talkatora Stadium, New Delhi was held on 20th January, 2020.  The event broadened its scope with an online competition for students that received  2.63 lakh entries. Students from all over India and also Indian students residing abroad from 25 countries participated. The event highlighted the need to embrace challenges as stepping stones for success.

    Pariksha Par Charcha 2020

     

    2019: Growing Reach 

    On January 29, 2019, the second edition of PPC took place at the same venue, witnessing an even greater level of participation. The interaction, which lasted for over ninety minutes, saw students, teachers and parents relax, laugh, and repeatedly applaud the Prime Minister’s observations, which included a touch of humour and wit.

     

    Pariksha Par Charcha 2019

     

    2018: The Inaugural Interaction

    The first-ever Pariksha Pe Charcha was held on February 16, 2018, at Talkatora Stadium, New Delhi. There were more than 2500 students from schools and colleges who were present in Talkatora Stadium of 16th February, 2018 for the interaction and more than 8.5 Crore students from across the country viewed or heard the programme on DD/TV Channels/ Radio Channels. The Prime Minister emphasized holistic development, resilience, and the importance of maintaining balance during exams. The event’s success set the tone for future editions.

     

    Pariksha Par Charcha 2018

     

    The Impact of Pariksha Pe Charcha

     

    Over the years, PPC has evolved into an opportunity aimed at transforming exam-related stress into positive energy. By addressing real questions and offering actionable solutions, Prime Minister Modi has bridged the gap between policy and practice, empowering students to thrive under pressure. The program’s inclusivity, digital reach, and innovative approaches ensure its continued success as a cornerstone of student engagement in India. With each passing year, PPC reinforces the message that exams are not the end but a beginning!

     

    References

    Annual report 2023-24 to 2018-19. https://www.education.gov.in/documents_reports?field_documents_reports_tid=All&field_documents_reports_category_tid=All&title=&page=1

    https://innovateindia1.mygov.in/#skip-main

    https://pib.gov.in/PressReleasePage.aspx?PRID=2092794

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2000010

    https://pib.gov.in/Pressreleaseshare.aspx?PRID=1561793

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2100184

    Click here to download PDF

    *****

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    MIL OSI Asia Pacific News

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Is Protecting Americans’ Second Amendment Rights

    US Senate News:

    Source: The White House
    STOPPING FEDERAL INFRINGEMENT ON CONSTITUTIONAL RIGHTS: Today, President Donald J. Trump signed an Executive Order to end the federal government’s violation of Americans’ fundamental Second Amendment right to protect themselves, their families, and their freedoms.
    This Executive Order will halt existing policies designed to curtail the clear right of law-abiding citizens to keep and bear arms.
    The order directs the incoming Attorney General to immediately complete a specific review of all orders, regulations, guidance, plans, and other actions by the Biden Administration regarding firearms—listing several specific documents to be reviewed—and deliver a plan of action to the President to eliminate all infringements on Americans’ Second Amendment rights. 
    ENDING THE ATTACKS ON LAW-ABIDING GUN OWNERS AND GUN BUSINESSES: The Biden Administration has flagrantly sought to eliminate Second Amendment rights. Among other infringements, the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) was weaponized to end the livelihoods of law-abiding small business owners in an effort to limit Americans’ ability to acquire firearms:
    The so-called “zero tolerance” or “enhanced regulatory enforcement policy” put in place under the previous administration led to a nearly six-fold increase in enforcement actions against Federal Firearms Licensees (FFL’s), many of whom are mom-and-pop shop small businesses who made innocent paperwork errors.
    Firearms manufacturers have been de-banked or denied services simply because they make guns—which allow Americans to exercise a constitutional right.
    DEFENDING OUR CONSTITUTIONAL RIGHT TO KEEP AND BEAR ARMS: President Trump is standing up for our constitutional Second Amendment right to keep and bear arms, building on progress made during his first term:
    President Trump removed the United States from the United Nations (UN) misguided Arms Trade Treaty to protect Americans from the threat of global regulations of conventional firearms.
    President Trump’s Department of Justice narrowed the definition of “fugitive from justice” to more specific guidelines when determining who is prohibited from buying a gun.
    During the pandemic, President Trump designated the firearms industry “essential” in order to protect gun stores, shooting ranges, and ammunition dealers from being shut down.

    MIL OSI USA News

  • MIL-Evening Report: ‘America First’ trade policy is pushing economic self-sufficiency – but history shows this is harder than it seems

    Source: The Conversation (Au and NZ) – By Garritt C. Van Dyk, Senior Lecturer in History, University of Waikato

    The day he took office for his second term, United States President Donald J. Trump unveiled his “America First” trade policy, including tariffs on imported goods from Mexico, Canada (both of which have since been paused) and China.

    President Trump’s reasoning for the tariffs included revitalising the American economy by bringing manufacturing and business back within US borders. Essentially, pushing the country towards greater self-sufficiency.

    Considering the cost of the tariffs, a number of countries have begun to question their dependence on foreign trade. But there are very clear hurdles including access to precious metals and raw materials.

    In a global market that relies on international trade, is it possible to be totally self-sufficient?

    The history of self-seficiency

    The economic term for self-sufficiency is “autarky”, borrowed from the ancient Greek word autarkeia, meaning “to suffice”. Ideally, this meant that a state could supply the needs of its people without foreign trade. Autarky, in its purest form, isolates the state from foreign economic, political and cultural influence.

    There are numerous historical examples of attempts to achieve complete economic autonomy.

    In 17th century Japan the Tokugawa Shogunate closed the borders to foreigners and prohibited Japanese from travelling abroad.

    There was limited private trade with China through Nagasaki and with Europe through Dutch merchants. They were confined to an artificial island, Deshima, off Nagasaki, to ensure their isolation. These restrictions remained for 265 years, until the threat of US gunboats forced Japan to sign a trade treaty in 1854.

    Self-sufficiency was also a goal of Benito Mussolini’s fascist dictatorship, aiming to lift Italy’s post-war economy in the 1920s. One initiative was the “Battle for Wheat”, an attempt to produce enough wheat to meet domestic demand and “free the Italian people from the slavery of foreign bread”.

    Italy imported more than one third of the flour needed to make bread and pasta, the two main foodstuffs. Pasta was targeted as a “backwards” food to promote consumption of local rice and reduce agricultural imports.

    Tariffs were levied on all imported goods in 1931. These were raised again in 1935 after sanctions were imposed on Italy following the invasion of Ethiopia. Mussolini declared in 1935 that Italy “would manage alone”.

    While imports of food, machinery and raw materials dropped, oil imports increased. Mussolini recognised the limits of autarky in 1934:

    Let us not delude ourselves about autarky. All the modern nations, thanks to the prodigious development of the sciences, can move towards a partial autarky. But we, until the contrary is proven, will have to import liquid combustibles.

    In response to Donald Trump’s America First policy, countries increasingly have to consider certain levels of self-sufficiency.
    Sven Hansche/Shutterstock

    A modern push to self-sufficiency

    Even with reduced reliance on fossil fuels, the scarcity of some natural resources, such as rare earth minerals, still poses a challenge to achieving autarky.

    Even the Democratic People’s Republic of Korea (North Korea), a centrally planned economy subject to United Nations Security Council sanctions for its nuclear and ballistic missile testing since 2006, is not completely self-sufficient.

    China is North Korea’s largest trading partner, with plastics, tobacco, soybean oil, rubber tires and packaged medicines as the top imports. The economic isolation of North Korea also makes it more vulnerable to global price fluctuations, as the movements are magnified due to the limited number of trading partners.

    Supply chain disruptions were highlighted during the pandemic, continued in 2021 with shortages in microchips, followed by Russia’s war in Ukraine.

    Some nations, such as the US and the United Kingdom, have responded to this logistical risk by shifting to local production, or reshoring, of certain critical industries, such as semiconductors and pharmaceuticals.

    This inward turn requires significant investment and lead time and may involve higher local energy and labour costs, or additional environmental restrictions. For industries that involve national security or essential goods, reducing dependence on potential adversaries may be necessary. But for other sectors the higher costs will create inflationary pressure.

    There are also implicit costs in cutting economic ties with the outside world. Foreign investment is reduced and innovation lags as there are fewer incentives for the cross-border flow of ideas.

    Embracing friendshoring

    As the push for self-reliance increases, vulnerable countries will need new strategies to remain resilient.

    Identifying alternative supply chain relationships and increasing inventory stockpiles in advance will minimise disruptions.

    Another tactic is “friendshoring” – relocating supply chains to countries where the risk of disruption from political chaos is low.

    It is likely that geopolitical instability will increase and global fragmentation will continue. While straightforward autarky may not be possible, countries will need to consider how to survive the political and economic volatility of the next four years – and beyond.

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

    ref. ‘America First’ trade policy is pushing economic self-sufficiency – but history shows this is harder than it seems – https://theconversation.com/america-first-trade-policy-is-pushing-economic-self-sufficiency-but-history-shows-this-is-harder-than-it-seems-248530

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Global: Why Canada must seize the moment and launch its long-awaited Africa strategy

    Source: The Conversation – Canada – By David J Hornsby, Professor of International Affairs and the Vice-Provost and Associate Vice-President (Academic), Carleton University

    Recent events have been nothing short of shock therapy for many Canadians. The threat of economically devastating tariffs by the United States at the behest of President Donald Trump have only reinforced that the time is ripe for Canada to diversify its foreign engagements and collaborations — like with the African region.

    Africa’s geopolitical and economic trajectory is reshaping the global order. With the African Continental Free Trade Area (AfCFTA) poised to become the world’s largest single market, a youthful population driving innovation and vast renewable energy potential, the continent is no longer a peripheral player — it’s a cornerstone of the 21st-century economy.

    Yet Canada, despite years of consultations and pledges, has delayed the release of a comprehensive Africa trade strategy. The time for hesitation is over.

    AfCFTA window is closing

    The AfCFTA, which spans 54 countries and 1.3 billion people, is projected to boost intra-African trade by 52 per cent by 2035. For Canada, this represents a significant opportunity to diversify exports beyond traditional partners like the U.S. and China.

    Canadian sectors from agri-food to clean tech are well-positioned to meet Africa’s demand for value-added goods and infrastructure.

    Global competitors are already moving: China’s trade with Africa surpassed $200 billion in 2023, while the European Union and India have accelerated trade pact negotiations across the continent.

    Without a formal strategy, Canada risks losing access to a market that could define the next decade of economic growth.

    Geopolitical stakes have never been higher

    Russia and China have deepened their influence across Africa, often at the expense of democratic governance and transparency. Canada’s absence isn’t just an economic miss — it’s a strategic void.

    By aligning with African priorities like Agenda 2063, which emphasizes self-reliance and sustainable development, Canada can counterbalance exploitative partnerships with ones rooted in mutual benefit.

    As Agenda 2063 identifies, African leaders are refocusing their agendas from the struggle against apartheid and political independence to “inclusive social and economic development, continental and regional integration, democratic governance and peace and security.” Africa faces a collective US$100 billion annual infrastructure deficit following centuries of colonial incursion and extraction.

    Recent Canadian investments in peace and security, good governance, people-to-people ties ($54 million) and economic empowerment ($176 million for women and youth empowerment) signal intent, but without a unified strategy, these
    efforts are fragmented.

    Aligning perfectly with Africa’s needs

    Canada’s world-class engineering firms and institutions like the Canada Infrastructure Bank could partner with African states and institutions like the African Development Bank and replicate successes achieved in projects like Ghana’s renewable energy grid.

    Africa’s startup ecosystem thrives in the financial technology and agritech sectors, where Canadian expertise and venture capital could catalyze growth.

    Projects like the Lobito Corridor, offer a chance for Canadian firms to contribute to rail and transport development that could be transformative.

    With significant solar and other renewable energies potential, Africa is critical to the net-zero transition. Canadian mining firms and clean energy innovators are natural partners for lithium and cobalt projects, despite the dubious human and environmental rights track record of some Canadian mining companies in the region.

    A Canada-Africa strategy needs to signal a support for mandatory adherence to environmental and human rights standards for mining firms, such as Canada’s Towards Sustainable Mining framework, while strengthening accountability through mechanisms like independent oversight and legal consequences for violations that already exist. By prioritizing partnerships with African governments and local communities, such a strategy could ensure ethical practices through transparent agreements, community consent protocols, and shared governance models foster a future of more ethical behaviour.

    From aid to equity

    Decades of humanitarian aid have fostered good will, but Africa’s leaders increasingly demand collaboration

    Canada’s Feminist International Assistance Policy emphasizes gender equality and aligns with Africa’s push for women-led development.

    But a true partnership requires reciprocity, like South Africa’s significant investments in Canadian mining and climate research collaborations. The African diaspora community, numbering over 1.2 million in Canada, is a bridge to these opportunities.

    The G7 presidency provides opportunity

    The alignment of the Canadian 2025 G7 presidency with South Africa’s 2025 presidency of the G20 offers a pivotal moment to unveil Canada’s African strategy and to mainstream African priorities, from debt relief to digital inclusion.

    The forthcoming G20 gatherings of finance ministers and central bank governors in Cape Town offers a perfect moment to demonstrate an actual plan to diversify Canadian foreign policy engagements and interests while positioning the country to rally allies behind a renewed set of initiatives that exist across the continent.

    To delay any further will not only frustrate business and diaspora groups alike, but will continue to relegate Canada to a marginal role in the continent’s economic and social development.

    The EU’s public and private investments in the green and digital transitions in Kenya and Ghana’s lithium deal with Australia underscore the urgency for a co-ordinated and concerted approach. Canada’s reputation as a reliable partner hangs in the balance.

    A call for cohesion

    A Canadian Africa strategy is critical now more than ever. To fully engage, any plan will need to articulate pan-African trade and streamlined export opportunities. It should leverage soft power by expanding diplomatic missions across regional economic communities.

    Investing in mutual growth via joint ventures in mining, agri-processing, and digital infrastructure is also crucial. Embedding climate justice by linking critical mineral exports to African renewable energy projects will foster sustainable development — all the while maintaining key imperatives of gender equality, one health and the exchange of knowledge through things like the South Africa-Canada Universities Network.

    Africa’s rise isn’t a distant future — it’s unfolding now. Canada has the tools, the values and the economic imperative to act. Delaying further isn’t just a missed opportunity; it’s a generational misstep.

    The strategy is drafted, the stakeholders are ready. All that’s missing is the political will to hit “publish” and get started.

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

    ref. Why Canada must seize the moment and launch its long-awaited Africa strategy – https://theconversation.com/why-canada-must-seize-the-moment-and-launch-its-long-awaited-africa-strategy-249255

    MIL OSI – Global Reports

  • MIL-OSI Africa: Migrant traders play a key role in South African tourism: it’s time policy makers protected them

    Source: The Conversation – Africa – By Alicia Fourie, Professor, GIBS, University of Pretoria

    Street traders play an important role in tourism in South Africa. They provide affordable goods to tourists while generating employment for others. Some even source products locally, such as beadwork, traditional masks, woven baskets and various other souvenirs, creating linkages with domestic producers.

    Most of these traders are migrants from outside South Africa.

    South Africa is regarded as the preferred destination for migration in Africa. Migrancy scholars Jonathan Crush and Vincent Williams point to tourism and entry statistics from Statistics South Africa, visa overstay and deportation data, and refugee figures from the United Nations High Commission for Refugees to support the new movements of refugees since the fall of apartheid.

    On arriving in the country, many enter the informal economy to make a living. Often this involves taking up self-employed entrepreneurial activities such as selling goods on street corners.

    South Africa’s tourism hubs present significant trading opportunities. In 2023, the country attracted 8.48 million international tourists. Though still 41.1% below pre-pandemic levels, this was an improvement. Tourism contributed 3.5% to GDP in 2022, when it outperformed industries like agriculture and construction.

    But traders face tough conditions. The sector’s informality means policymakers can easily overlook it. Traders lack formal recognition and have limited access to resources.

    This should change.

    To improve their conditions, several measures could be helpful, including:

    • well-maintained designated trading areas that are equipped with essential amenities like shelter and storage

    • simplifying the process for obtaining the necessary permits and licences to increase their legal protections and operational stability.

    These measures must be the result of discussions with the traders.

    Our view is informed by research we conducted on informal traders over two years (2022 and 2023) in Cape Town, Durban and Johannesburg. Our focus was on the ability of the traders to adapt during times of crisis and economic downturn.

    We found that the traders showed high levels of resilience and ingenuity to survive under tough conditions. But resilience can’t conquer all. The long-term sustainability of informal trading ventures hinges on external factors. They include government support and functioning institutions such as law and order that can help them manage challenges such as xenophobia.

    The traders

    Our study involved 35 qualitative interviews and 363 completed quantitative questionnaires. Three quarters of the respondents were foreign.

    Traders from east and west Africa were dominant in Cape Town while Zimbabwean traders were dominant in Johannesburg.

    Most informal traders (67%) were the sole income earners for their families, supporting multiple dependants. Before starting their businesses, only 47.5% had formal employment in roles like teaching, cleaning, or sales. Most traders had been operating for over 14 years. Monthly gross incomes averaged US$580, with Johannesburg traders earning more than those in Cape Town and Durban.

    On face value these amounts seem higher than earnings of informally employed wage workers such as day labourers. However, these are gross figures, so comparisons with other occupations or cost of living must be treated with caution.

    Resilience and ingenuity

    The stories the traders shared with us are a testament to resilience and ingenuity. Migrant traders’ adaptability and joint commitment underscore their resilience, a key factor in overcoming economic and social crises.

    Informal trading in the tourism sector drives local economies by providing tourists with authentic cultural experiences through locally crafted products. Traders’ activities create employment opportunities, including jobs for individuals working at the stalls and trolley pushers assisting with setup. Their incomes also support entire families.

    Migrant traders also bring an entrepreneurial spirit to South Africa’s economy. Our research revealed that, unlike some of their South African counterparts who may access social grants, migrant traders often diversify their product offerings quicker and more extensively to adapt to changing market demands. This included introducing clothing alongside crafts or selling locally sourced goods (like items used by traditional healers) during economic downturns.

    Their ability to adapt and innovate, even in difficult circumstances, contributes to the resilience of the broader tourism sector. Migrant traders quickly resumed operations after the pandemic. They used strategies like shared payment devices to improve efficiency, and community networks to weather economic shocks, so that tourism-related goods and services remained available.

    Blind spot for policy makers

    The sector’s informality leaves it overlooked by policymakers.

    During the pandemic, formal businesses received government relief, but informal traders were largely excluded. For migrants, the absence of support was even more pronounced, as they lacked access to social safety nets available to South African citizens.

    By supporting informal traders, particularly migrants, South Africa can enhance the sustainability of its tourism sector. This support could take various forms:

    Policy recognition: Acknowledging the vital role of informal traders in tourism and integrating them into local economic development plans.

    Practical policy responses: Examples include improving visible policing and cleaning up beach precincts, especially in Durban. This would reduce crime, increase tourist visits and improve the lives of street traders.

    Access to resources: Providing grants or loans tailored to informal businesses.

    Skills development: Offering training programmes to strengthen business acumen and innovation.

    Community engagement: Promoting social cohesion to reduce xenophobic attitudes and fostering partnerships between local and migrant traders.

    Next steps

    The stories of South Africa’s informal migrant traders are ones of perseverance and potential. They remind us that resilience is not only an individual trait but a communal effort.

    By recognising and supporting these traders, South Africa would be investing in a more inclusive, robust tourism sector.

    As South Africa seeks to revive its tourism industry through the Tourism Sector Recovery Plan, the contributions of informal traders, local and migrant alike, cannot be overlooked. These entrepreneurs are shaping the fabric of the industry, one craft and one customer at a time. Supporting them is not just an act of kindness; it is a strategic move for the nation’s economic future.

    – Migrant traders play a key role in South African tourism: it’s time policy makers protected them
    – https://theconversation.com/migrant-traders-play-a-key-role-in-south-african-tourism-its-time-policy-makers-protected-them-247244

    MIL OSI Africa

  • MIL-OSI Global: Migrant traders play a key role in South African tourism: it’s time policy makers protected them

    Source: The Conversation – Africa – By Alicia Fourie, Professor, GIBS, University of Pretoria

    Street traders play an important role in tourism in South Africa. They provide affordable goods to tourists while generating employment for others. Some even source products locally, such as beadwork, traditional masks, woven baskets and various other souvenirs, creating linkages with domestic producers.

    Most of these traders are migrants from outside South Africa.

    South Africa is regarded as the preferred destination for migration in Africa. Migrancy scholars Jonathan Crush and Vincent Williams point to tourism and entry statistics from Statistics South Africa, visa overstay and deportation data, and refugee figures from the United Nations High Commission for Refugees to support the new movements of refugees since the fall of apartheid.

    On arriving in the country, many enter the informal economy to make a living. Often this involves taking up self-employed entrepreneurial activities such as selling goods on street corners.

    South Africa’s tourism hubs present significant trading opportunities. In 2023, the country attracted 8.48 million international tourists. Though still 41.1% below pre-pandemic levels, this was an improvement. Tourism contributed 3.5% to GDP in 2022, when it outperformed industries like agriculture and construction.

    But traders face tough conditions. The sector’s informality means policymakers can easily overlook it. Traders lack formal recognition and have limited access to resources.

    This should change.

    To improve their conditions, several measures could be helpful, including:

    • well-maintained designated trading areas that are equipped with essential amenities like shelter and storage

    • simplifying the process for obtaining the necessary permits and licences to increase their legal protections and operational stability.

    These measures must be the result of discussions with the traders.

    Our view is informed by research we conducted on informal traders over two years (2022 and 2023) in Cape Town, Durban and Johannesburg. Our focus was on the ability of the traders to adapt during times of crisis and economic downturn.

    We found that the traders showed high levels of resilience and ingenuity to survive under tough conditions. But resilience can’t conquer all. The long-term sustainability of informal trading ventures hinges on external factors. They include government support and functioning institutions such as law and order that can help them manage challenges such as xenophobia.

    The traders

    Our study involved 35 qualitative interviews and 363 completed quantitative questionnaires. Three quarters of the respondents were foreign.

    Traders from east and west Africa were dominant in Cape Town while Zimbabwean traders were dominant in Johannesburg.

    Most informal traders (67%) were the sole income earners for their families, supporting multiple dependants. Before starting their businesses, only 47.5% had formal employment in roles like teaching, cleaning, or sales. Most traders had been operating for over 14 years. Monthly gross incomes averaged US$580, with Johannesburg traders earning more than those in Cape Town and Durban.

    On face value these amounts seem higher than earnings of informally employed wage workers such as day labourers. However, these are gross figures, so comparisons with other occupations or cost of living must be treated with caution.

    Resilience and ingenuity

    The stories the traders shared with us are a testament to resilience and ingenuity. Migrant traders’ adaptability and joint commitment underscore their resilience, a key factor in overcoming economic and social crises.

    Informal trading in the tourism sector drives local economies by providing tourists with authentic cultural experiences through locally crafted products. Traders’ activities create employment opportunities, including jobs for individuals working at the stalls and trolley pushers assisting with setup. Their incomes also support entire families.

    Migrant traders also bring an entrepreneurial spirit to South Africa’s economy. Our research revealed that, unlike some of their South African counterparts who may access social grants, migrant traders often diversify their product offerings quicker and more extensively to adapt to changing market demands. This included introducing clothing alongside crafts or selling locally sourced goods (like items used by traditional healers) during economic downturns.

    Their ability to adapt and innovate, even in difficult circumstances, contributes to the resilience of the broader tourism sector. Migrant traders quickly resumed operations after the pandemic. They used strategies like shared payment devices to improve efficiency, and community networks to weather economic shocks, so that tourism-related goods and services remained available.

    Blind spot for policy makers

    The sector’s informality leaves it overlooked by policymakers.

    During the pandemic, formal businesses received government relief, but informal traders were largely excluded. For migrants, the absence of support was even more pronounced, as they lacked access to social safety nets available to South African citizens.

    By supporting informal traders, particularly migrants, South Africa can enhance the sustainability of its tourism sector. This support could take various forms:

    Policy recognition: Acknowledging the vital role of informal traders in tourism and integrating them into local economic development plans.

    Practical policy responses: Examples include improving visible policing and cleaning up beach precincts, especially in Durban. This would reduce crime, increase tourist visits and improve the lives of street traders.

    Access to resources: Providing grants or loans tailored to informal businesses.

    Skills development: Offering training programmes to strengthen business acumen and innovation.

    Community engagement: Promoting social cohesion to reduce xenophobic attitudes and fostering partnerships between local and migrant traders.

    Next steps

    The stories of South Africa’s informal migrant traders are ones of perseverance and potential. They remind us that resilience is not only an individual trait but a communal effort.

    By recognising and supporting these traders, South Africa would be investing in a more inclusive, robust tourism sector.

    As South Africa seeks to revive its tourism industry through the Tourism Sector Recovery Plan, the contributions of informal traders, local and migrant alike, cannot be overlooked. These entrepreneurs are shaping the fabric of the industry, one craft and one customer at a time. Supporting them is not just an act of kindness; it is a strategic move for the nation’s economic future.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Migrant traders play a key role in South African tourism: it’s time policy makers protected them – https://theconversation.com/migrant-traders-play-a-key-role-in-south-african-tourism-its-time-policy-makers-protected-them-247244

    MIL OSI – Global Reports

  • MIL-OSI USA: Senator Murray Slams Indirect Cost Rate for NIH as Massive Indiscriminate Cut, Setting Back Progress on Lifesaving Research

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. – Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, issued the following statement in response to the National Institutes of Health (NIH) announcing it would set the maximum reimbursement rate for indirect costs to 15%, creating a serious funding shortfall for research institutions of all types across the country. This move will dismantle the biomedical research system, stifle the development of new cures for disease, and rip treatments away from patients in need. It won’t produce cost savings; it will just shift costs to states who can’t afford to pay the difference. Importantly, this action by the Trump administration is illegal. Congress’ bipartisan Labor-HHS-Education Appropriations Bill prohibits modifications to NIH’s indirect costs.   

    “By proposing an illegal and arbitrary indirect cost rate, Trump and Elon are functionally forcing an indiscriminate funding cut for research institutions across the country that will be nothing short of catastrophic for so much of the lifesaving research patients and families are counting on. This will derail major breakthroughs by forcing research institutions—like the Fred Hutchinson Cancer Center and the University of Washington in my state—to now scramble to make up this massive shortfall, almost certainly forcing layoffs across the country. Sick kids may not get the treatment they need. Clinical trials may be shut down abruptly with dangerous consequences. Just because Elon Musk doesn’t understand indirect costs doesn’t mean Americans should have to pay the price with their lives.  

    “These resources go toward things like construction, utility costs, and lab operation—if NIH cuts off this support, the research will come to a halt. This funding helps produce breakthroughs that change patients’ lives, prepare us for pandemics and other health threats, and ensure the U.S. continues to be the global leader in biomedical research. After a global pandemic that brought the world economy to a grinding halt and cost more than one million American lives, it’s unthinkable that Trump and Musk want to pull funding that will force public and private labs across America to shutter. I refuse to abandon the millions of families who are fighting cancer, Alzheimer’s disease, substance use disorders, and so much more—I hope Americans everywhere will speak out to reverse this haphazard and dangerous funding cut.”

    As a longtime appropriator and former Chair of the Senate HELP Committee, Murray has long fought to boost biomedical research, strengthen public health infrastructure, and make health care more affordable and accessible. Over her years as a senior member of the Appropriations Committee, she has secured billions of dollars in increases for biomedical research at the National Institutes of Health, and during her time as Chair of the HELP Committee she established the new ARPA-H research agency as part of her PREVENT Pandemics Act to advance some of the most cutting-edge research in the field. Senator Murray was also the lead Democratic negotiator of the bipartisan 21st Century Cures Act, which delivered a major federal investment to boost NIH research, among many other investments. 

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Presidential Office thanks US and Japan for joint leaders’ statement

    Source: Republic of China Taiwan

    Details
    2025-01-31
    President Lai’s response to Pope Francis’s 2025 World Day of Peace message  
    President Lai Ching-te recently sent a letter to Pope Francis of the Catholic Church in response to his message marking the 58th World Day of Peace. The following is the full text of the president’s letter to the pope: Your Holiness, In your message for the 2025 World Day of Peace entitled Forgive us our trespasses: grant us your peace, you called for a cultural change that would bring an end to the governance of interpersonal and international relations by a logic of exploitation and oppression and herald true and lasting peace. I wholeheartedly admire and identify with your point of view. Since transitioning from a medical career to politics, I have remained true to my original intentions in the sense that, while a doctor can help only one person at a time, a public servant can simultaneously assist many people in resolving the difficulties affecting their lives. In my inaugural address in May 2024, I pledged that every day of my term, I would strive to act justly, show mercy, and be humble, which accord with the teachings of the Bible. I promised to treat the Taiwanese people as family and prove myself worthy of their trust and expectations. With an unwavering heart, I have accepted the people’s trust and taken on the solemn responsibility of leading the nation forward and building a democratic, peaceful, and prosperous new Taiwan. In this new year, the changing international landscape continues to present many grave challenges to democratic nations around the world. As the Russia-Ukraine war persists, the steady convergence of authoritarian regimes, including China, Russia, North Korea, and Iran, threatens the rules-based international order and severely impacts peace and stability in the Indo-Pacific and the world at large. Your Holiness has stated that war is a defeat for everyone. I, too, firmly believe that peace is priceless and that war has no winners. A high level of consensus has formed in the international community on upholding peace and stability across the Taiwan Strait. The Taiwanese people also maintain an unyielding commitment to safeguarding a way of life that encompasses freedom, equality, democracy, and human rights. Taiwan will continue to spare no effort in preserving regional peace and stability and serving as a pilot for global peace. In your World Day of Peace message, you urged prosperous countries to assist poorer ones. This compassion is truly touching. Taiwan is proactively implementing values-based diplomacy and, under the Diplomatic Allies Prosperity Project, enhancing allies’ development through a range of initiatives. Over many years, Taiwan has accumulated abundant and unique experience of providing foreign assistance. Seeking to foster self-reliance among disadvantaged countries, we have extended genuine support to help alleviate poverty through such avenues as strengthening basic infrastructure, transferring technology, and cultivating talent. In your message, you reminded countries worldwide that assistance should not be merely an isolated act of charity and pointed to the need to devise a new global financial framework so that food crises, climate change, and other challenges could be jointly addressed. I hold this view in high regard. I therefore earnestly hope that international organizations will stop excluding Taiwan for political reasons. Taiwan is willing to shoulder its international responsibilities so that it can contribute and share its valuable experience through many global platforms.  On behalf of the government and people of the Republic of China (Taiwan), I again express our interest in collaborating with the Holy See to advance world peace through concrete action. We also aspire to demonstrate Taiwanese values and the Taiwanese spirit and work together with the Holy See to uphold the core values of justice, democracy, freedom, and peace.  Please accept, Your Holiness, the renewed assurances of my highest consideration, as well as my best wishes for your good health and the continued growth of the Catholic Church.

    Details
    2025-01-31
    President Lai meets former US Vice President Mike Pence
    On the afternoon of January 17, President Lai Ching-te met with former Vice President of the United States Mike Pence. In remarks, President Lai thanked former Vice President Pence for his contributions to the deepening of Taiwan-US relations, noting that he actively helped to strengthen Taiwan-US cooperation and facilitate the normalization of military sales to Taiwan, and did his utmost to deepen the Taiwan-US economic partnership. The president indicated that former Vice President Pence also spoke up for Taiwan on numerous occasions at international venues, backing Taiwan’s international participation. President Lai expressed hope for a stronger Taiwan-US partnership to maintain peace and stability throughout the world, and that the two sides can advance bilateral exchanges in such areas as the economy, trade, and industry. A translation of President Lai’s remarks follows: I am delighted to welcome former Vice President Pence and Mrs. Karen Pence to the Presidential Office. Former Vice President Pence is not only an outstanding political leader in the US, but also a staunch supporter of Taiwan on the international stage. On behalf of the people of Taiwan, I would like to take this opportunity to extend our deepest gratitude to former Vice President Pence for his contributions to the deepening of Taiwan-US relations. Thanks to former Vice President Pence’s strong backing, ties between Taiwan and the US rose to unprecedented heights during President Donald Trump’s first administration. Former Vice President Pence actively helped to strengthen Taiwan-US security cooperation and facilitate the normalization of military sales to Taiwan, helping Taiwan reinforce its self-defense capabilities. He also did his utmost to deepen the Taiwan-US economic partnership. Former Vice President Pence also paid close attention to the military threats and diplomatic isolation faced by Taiwan. He spoke up for Taiwan on numerous occasions at international venues, taking concrete action to back Taiwan’s international participation. We were truly grateful for this. As we speak, China’s political and military intimidation against Taiwan persist. China and other authoritarian regimes, such as Russia, North Korea, and Iran, are continuing to converge and present serious challenges to democracies around the globe. At this moment, free and democratic nations must come together to bolster cooperation. I believe that a stronger Taiwan-US partnership can be an even more powerful force in maintaining peace and stability throughout the world. Former Vice President Pence has previously supported the signing of a trade agreement between Taiwan and the US. Taiwan looks forward to continuing to work with the new US administration and Congress to advance bilateral exchanges in such areas as the economy, trade, and industry. This is the first time that former Vice President Pence and Mrs. Pence are visiting Taiwan, and their visit is significantly meaningful for Taiwan-US exchanges. On behalf of the people of Taiwan, I want to extend a warm welcome. Moving forward, I hope we will jointly realize even more fruitful achievements through Taiwan-US cooperation. Former Vice President Pence then delivered remarks, thanking President Lai for his hospitality on his and his wife’s first visit to Taiwan, saying that it is an honor to be here to reaffirm the bonds of friendship between the people of America and the people of Taiwan, which are strong and longstanding. The former vice president indicated that the American people admire the people of Taiwan and all that has been accomplished in a few short decades for Taiwan to rise to one of the world’s preeminent economic powers and free societies. He said that he is grateful for President Lai’s courageous and bold leadership of Taiwan, and grateful to be able to express the support of the overwhelming majority of the American people for this alliance. Former Vice President Pence indicated that the values shared by Taiwan and the US, including freedom, the rule of law, and respect for human rights, bind us together in a partnership that transcends geographic boundaries and cultures. He then assured President Lai that China’s increasingly aggressive posture in the Taiwan Strait and across the Indo-Pacific, for the values and interests that both sides share, is deeply concerning to the American people. Former Vice President Pence stated that America is a Pacific nation, and is committed to the status quo, adding that they recognize it is China that wants to change the status quo that America, Taiwan, and other allies in the region want to preserve, which has created an environment of extraordinary growth and prosperity. The former vice president concluded by once again thanking President Lai and his team for their gracious hospitality and conveying best wishes to him and the people of Taiwan. Former Vice President Pence then assured President Lai that just as Taiwan will never surrender its freedom, he will continue to be a voice for a strong US-Taiwan relationship in the defense and the benefit of Taiwan, the US, and the free world. Later that day, Vice President Bi-khim Hsiao hosted a banquet for former Vice President Pence and his delegation at Taipei Guest House to thank him for his longstanding friendship and staunch support for Taiwan-US ties.  

    Details
    2025-01-31
    President Lai meets delegation to 60th Inaugural Ceremonies of US president and vice president
    On the morning of January 16, President Lai Ching-te met with Taiwan’s delegation to the 60th Inaugural Ceremonies of the President and Vice President of the United States. In remarks, President Lai stated that democratic Taiwan stands united, working hard to deepen Taiwan-US ties together. He then entrusted the delegation with three missions: to convey best wishes from the people of Taiwan, convey our firm commitment to democracy, and help Taiwan-US relations reach a new milestone. A translation of President Lai’s remarks follows: The 60th Inaugural Ceremonies of the President and Vice President of the US will be held on January 20. I want to thank Speaker Han Kuo-yu (韓國瑜), president of the Legislative Yuan, for accepting my invitation to lead our nation’s representative delegation to the event. I also thank Legislative Yuan Members Ko Chih-en (柯志恩), Wang Ting-yu (王定宇), Ko Ju-chun (葛如鈞), Lee Yen-hsiu (李彥秀), Chen Kuan-ting (陳冠廷), Kuo Yu-ching (郭昱晴), and Chen Gau-tzu (陳昭姿) for joining this visit to the US to attend the inauguration of President Donald Trump and Vice President J.D. Vance. We have gathered together today despite differences in party affiliation because in democratic Taiwan, while parties may compete domestically, when it comes to engagement externally, they stand united and share responsibility, working hard to deepen Taiwan-US ties and strive for the best interests of the nation. We share the value of defending freedom and democracy, and we share the goal of advancing peace and prosperity. Today, we engage with the world together as those from the same country – the Republic of China (Taiwan). In this complex and volatile new international landscape, and as the nation faces difficulties and challenges, I want to stress that in Formosa, there is no hostility that cannot be let go, and no hardship that cannot be overcome. Unity is the most important, and I hope that Taiwan can stand united, because there is true strength in unity. Democratic Taiwan must stand united in engaging with the world and initiate exchanges with confidence. On that ground, I am entrusting this delegation with three key missions. First, convey best wishes from the people of Taiwan. Just last year, Taiwan and the US celebrated the 45th anniversary of the passage of the Taiwan Relations Act. And on May 20, the US sent a senior bipartisan delegation to congratulate me and Vice President Bi-khim Hsiao on our inauguration. As the leader of this cross-party delegation, Speaker Han must clearly convey the well-wishes of the people of Taiwan, congratulate President Trump and Vice President Vance on their inauguration, and wish success to the new administration and prosperity to the US. Second, clearly convey the firm commitment of the people of Taiwan to democracy. The theme of these inaugural ceremonies is “Our Enduring Democracy: A Constitutional Promise.” Taiwan and the US share the universal value of democracy and are staunch allies. I hope that the delegation can faithfully convey the firm commitment to democracy that the people of Taiwan have, which will not change even in the face of authoritarian threats. Taiwan is willing to stand side by side with the US and other members of the democratic community to defend the sustainable development of global democracy and prevent the expansion of authoritarianism. Third, help Taiwan-US relations reach a new milestone. In recent years, Taiwan-US relations have continued to grow, with the first agreement under the Taiwan-US Initiative on 21st Century Trade having formally taken effect last month. This morning, the House of Representatives also passed the US-Taiwan Expedited Double-Tax Relief Act. I hope that the delegation can help Taiwan-US relations reach a new milestone through these exchanges so that our relations continue to grow, our cooperation expands even more, and so that we can achieve even greater success after the new administration takes office. Four years ago, Taiwan’s representative to the US inaugural ceremonies was Vice President Hsiao, who was then our representative to the US. Everyone has a lot to learn from her. I have specially invited everyone here to converse so that you can draw from Vice President Hsiao’s experience and ensure an even smoother visit. Washington, DC was also hit by a rare blizzard recently, and the weather has been very cold, so make sure to stay warm. I am sending everyone off with hand warmers and thermoses so that you can bring some warmth from Taiwan with you on your journey. And I ask that Speaker Han exercise his wisdom to help generate some warmth between the ruling and opposition parties through cooperation, which they can then bring back to Taiwan. Let us unite to give our all for diplomacy so that we can unite to give our all for Taiwan. I wish the delegation a smooth and safe trip, and hope your missions can be carried out successfully. Speaker Han then delivered remarks, stating that it was an honor to be invited by President Lai to organize a delegation to represent our nation at the 60th Inaugural Ceremonies of the President and Vice President of the US in Washington, DC, and express the Republic of China’s sincere and cordial best wishes. The Legislative Yuan’s president has assumed this important task numerous times in the past, he said, not only to represent the government of the Republic of China, but also to take on the mission of conveying the voices of 23 million people. He went on to say that he is honored to take up the baton, lead eight legislators to the US to attend this celebration that will attract global attention, and express sincere best wishes to newly elected President Trump, Vice President Vance, and the new administration’s team. As enjoined by President Lai, he hopes the delegation’s trip will help open a new chapter in Taiwan-US exchanges. Speaker Han stated that the US is the most free and democratic country in the world. He noted that in 1776 in the US Declaration of Independence, founding father Thomas Jefferson propounded the concept of “unalienable rights,” and emphasized that the people have a right to freedom and the pursuit of happiness, democratic ideas that have long been rooted in the people’s hearts. Today, he said, democracy is also embedded in the DNA of Taiwan’s 23 million people, and this hard-won democratic achievement is a result of the concerted efforts of our pioneering predecessors, thinkers, and activists over the past 100 years. Speaker Han stated that during this visit, the Legislative Yuan delegation hopes to convey the voice of Taiwan as a democratic country. Taiwan’s security, he said, is like the four legs of a table: The first leg is defending the Republic of China, the second is defending freedom and democracy, the third is maintaining Taiwan-US relations, and the fourth is maintaining cross-strait peace. The delegation will travel to the US amidst severe cold weather to show that we value our relationship with the US, and our citizens have great hopes and expectations. Speaker Han stated that this will be a cross-party delegation of eight legislators, all of whom have a strong sense of mission. He hopes that all democratic nations will acknowledge Taiwan’s importance, and pay attention to Taiwan’s 23 million people. The delegation, he said, will do its utmost to convey the goodwill and warmth that the people of Taiwan give to each and every one of our good friends.

    Details
    2025-01-31
    President Lai confers decoration on former Lithuanian Foreign Minister Gabrielius Landsbergis
    On the morning of January 14, President Lai Ching-te conferred the Order of Brilliant Star with Special Grand Cordon upon former Minister of Foreign Affairs Gabrielius Landsbergis of the Republic of Lithuania in recognition of his remarkable contributions to deepening Taiwan-Lithuania relations. In remarks, President Lai thanked former Minister Landsbergis for standing firmly with Taiwan and remaining a staunch defender of democratic values, yielding fruitful cooperative results. The president expressed hope that the two countries will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture, and continue to advocate for the values of freedom and democracy so that together we can contribute even more to our nations’ development and to peace and prosperity throughout the world. A translation of President Lai’s remarks follows: Today, by conferring the Order of Brilliant Star with Special Grand Cordon upon former Minister Landsbergis, we recognize his outstanding contributions during his time as foreign minister of Lithuania. On behalf of the people of Taiwan, I thank him for the key role he has played in deepening Taiwan-Lithuania relations. During the COVID-19 pandemic, thanks to the efforts of former Minister Landsbergis, Lithuania was the first European nation to donate vaccines to Taiwan. On that occasion, he stated that “freedom-loving people should look out for each other.” His statement was very moving and left a deep impression on many Taiwanese people. We will never forget it. Former Minister Landsbergis has continued to express the spirit of those words through his concrete actions. With his staunch support, Taiwan and Lithuania have mutually established representative offices. Moreover, our representative office in Lithuania was the first in Europe to incorporate “Taiwan” in its name. As for bilateral cooperation, Taiwan and Lithuania have seen fruitful results in such fields as semiconductors, laser technology, finance, and medicine. Be it overcoming the challenges posed by the pandemic or resisting expanding authoritarianism, former Minister Landsbergis has stood firmly with Taiwan and remained a staunch defender of democratic values. We greatly admire and appreciate his spirit. Today, authoritarian regimes continue to converge, posing threats and challenges to democracies around the world. Taiwan, Lithuania, and other democratic countries must come closer together, drawing on the strength of unity, so as to jointly safeguard freedom and democracy and uphold the rules-based international order. Looking ahead, we hope that Taiwan and Lithuania will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture. Let us continue to advocate for the values of freedom and democracy. Together, we can contribute even more to our nations’ development and to peace and prosperity throughout the world. In closing, I once again thank you, former Minister Landsbergis, for your support and for all that you have done for Taiwan. We welcome you and your wife to visit often. I wish you both a smooth and successful visit in Taiwan, and hope you leave with lasting memories.    Former Minister Landsbergis then delivered remarks, saying that it is a great honor to receive the decoration today. He noted that only partially can he accept the honor, as there have been many people who worked together with him in the ministry and in the whole country who support the people of Taiwan and see the benefit of supporting democracy in Taiwan. He often says that in Lithuania they remember well the fight for their freedom, and just today, he mentioned, he was shown the permanent exhibition in the Presidential Office, where he saw similar pictures of Taiwanese people fighting for democracy. He emphasized that not even one generation has passed since these events took place here in Taipei or similar events took place in Vilnius. Former Minister Landsbergis said that decision-makers in the Lithuanian government are either people who were themselves fighting for freedom, or, as in his case, those who were sitting on the shoulders of parents who were fighting for freedom. So for them, he underlined, freedom, democracy, liberty, and sovereignty are very real concepts that they cherish, not just things read about in a history book. He said that this is the main connector between Lithuania and Taiwan, a feeling of freedom and support for each other. Former Minister Landsbergis stated that in the face of authoritarians who do not wish us prosperity, who do not wish us freedom and future achievements, what he expects from the future is that the friendship, collaboration, and mutual support between Lithuania and Taiwan will inspire others to join in. This, he said, will make other countries not be afraid to support freedom and democracy, and will allow our group of friends to continue to grow. Lithuanian history, the former minister said, is difficult, and a big part of it was fighting for their freedom. He explained that during the 19th century when Lithuania was part of Russia’s empire, they had several revolutions and uprisings with the aim of becoming free, and that they were fighting for that freedom alongside Poland and Belarus. He then applied a phrase that they used in the revolution of 1864 – “for your freedom and ours,” meaning that they will continue to fight for their freedom while helping Taiwan fight for ours. Also in attendance at the ceremony were former Minister Landsbergis’ wife Dr. Austėja Landsbergienė and Lithuanian Representative to Taiwan Paulius Lukauskas.

    Details
    2025-01-31
    Presidential Office thanks White House for its statement on enduring US commitment to Indo-Pacific region
    On January 10 (US EST), the US White House released a statement on the United States’ Enduring Commitment to the Indo-Pacific Region, in which it reaffirms its position of using a range of methods to help Taiwan maintain a sufficient self-defense capability so as to maintain peace and stability in the Indo-Pacific region and across the Taiwan Strait. Presidential Office Spokesperson Karen Kuo (郭雅慧) on January 11 expressed sincere gratitude to the US government for taking concrete actions to fulfill its security commitments to Taiwan, advancing the close Taiwan-US security partnership, and supporting Taiwan in its efforts to enhance its self-defense capabilities and resilience. Spokesperson Kuo stated that the deepening Taiwan-US security partnership is a critical cornerstone for peace and stability in the Indo-Pacific region. She noted that Taiwan, as a force for good and regional stability, will continue to work alongside like-minded countries to strengthen defense resilience as we jointly defend the values of freedom and democracy and ensure the peace, stability, and prosperity of the Indo-Pacific region.

    Details
    2025-01-01
    President Lai delivers 2025 New Year’s Address
    On the morning of January 1, President Lai Ching-te delivered his 2025 New Year’s Address, titled “Bolstering National Strength through Democracy to Enter a New Global Landscape,” in the Reception Hall of the Presidential Office. President Lai stated that today’s Taiwan is receiving international recognition for its performance in many areas, among them democracy, technology, and economy. In this new year, he said, Taiwan must be united, and we must continue on the right course. The president expressed hope that everyone in the central and local governments, regardless of party, can work hard together, allowing Taiwan sure footing as it strides forward toward ever greater achievements.  President Lai emphasized that in 2025, we must keep firm on the path of democracy, continue to bolster our national strength, make Taiwan more economically resilient, enhance the resilience of supply chains for global democracies, and continue working toward a Balanced Taiwan and generational justice, ensuring that the fruits of our economic growth can be enjoyed by all our people. The president said that Taiwan will keep going strong, and we will keep walking tall as we enter the new global landscape. A translation of President Lai’s address follows: Today is the first day of 2025. With a new year comes new beginnings. I wish that Taiwan enjoys peace, prosperity, and success, and that our people lead happy lives. Taiwan truly finished 2024 strong. Though there were many challenges, there were also many triumphs. We withstood earthquakes and typhoons, and stood firm in the face of constant challenges posed by authoritarianism. We also shared glory as Taiwan won the Premier12 baseball championship, and now Taiwanese people around the world are all familiar with the gesture for Team Taiwan. At the Paris Olympics, Wang Chi-lin (王齊麟) and Lee Yang (李洋) clinched another gold in men’s doubles badminton. Lin Yu-ting (林郁婷) took home Taiwan’s first Olympic gold in boxing. At the International Junior Science Olympiad, every student in our delegation of six won a gold medal. And Yang Shuang-zi’s (楊双子) novel Taiwan Travelogue, translated into English by King Lin (金翎), became a United States National Book Award winner and a tour de force of Taiwan literature on the international level. Our heroes of Taiwan are defined by neither age nor discipline. They have taken home top prizes at international competitions and set new records. They tell Taiwan’s story through their outstanding performances, letting the world see the spirit and culture of Taiwan, and filling all our citizens with pride. My fellow citizens, we have stood together through thick and thin; we have shared our ups and downs. We have wept together, and we have laughed together. We are all one family, all members of Team Taiwan. I want to thank each of our citizens for their dedication, fueling Taiwan’s progress and bringing our nation glory. You have given Taiwan even greater strength to stand out on the global stage. In this new year, we must continue bringing Taiwan’s stories to the world, and make Taiwan’s successes a force for global progress. In 2025, the world will be entering a new landscape. Last year, over 70 countries held elections, and the will of the people has changed with the times. As many countries turn new pages politically, and in the midst of rapid international developments, Taiwan must continue marching forward with steady strides. First, we must keep firm on the path of democracy. Taiwan made it through a dark age of authoritarianism and has since become a glorious beacon of democracy in Asia. This was achieved through the sacrifices of our democratic forebears and the joint efforts of all our citizens. Democracy’s value to Taiwan lies not just in our free way of life, or in the force driving the diverse and vigorous growth of our society. Democracy is the brand that has earned us international trust in terms of diplomacy. No matter the threat or challenge Taiwan may face, democracy is Taiwan’s only path forward. We will not turn back. Domestic competition among political parties is a part of democracy. But domestic political disputes must be resolved democratically, within the constitutional system. This is the only way democracy can continue to grow. The Executive Yuan has the right to request a reconsideration of the controversial bills passed in the Legislative Yuan, giving it room for reexamination. Constitutional institutions can also lodge a petition for a constitutional interpretation, and through Constitutional Court adjudication, ensure a separation of powers, safeguard constitutional order, and gradually consolidate the constitutional system. The people also have the right of election, recall, initiative, and referendum, and can bring together even greater democratic power to show the true meaning of sovereignty in the hands of the people. In this new year, the changing international landscape will present democratic nations around the world with many grave challenges. Russia’s invasion of Ukraine and conflict between Israel and Hamas rage on, and we are seeing the continued convergence of authoritarian regimes including China, Russia, North Korea, and Iran, threatening the rules-based international order and severely affecting peace and stability in the Indo-Pacific region and the world at large. Peace and stability in the Taiwan Strait are essential components for global security and prosperity. Taiwan needs to prepare for danger in times of peace. We must continue increasing our national defense budget, bolster our national defense capabilities, and show our determination to protect our country. Everyone has a responsibility to safeguard Taiwan’s democracy and security. We must gather together every bit of strength we have to enhance whole-of-society defense resilience, and build capabilities to respond to major disasters and deter threats or encroachment. We must also strengthen communication with society to combat information and cognitive warfare, so that the populace rejects threats and enticements and jointly guards against malicious infiltration by external forces. Here at home, we must consolidate democracy with democracy. Internationally, we must make friends worldwide through democracy. This is how we will ensure security and peace. The more secure Taiwan, the more secure the world. The more resilient Taiwan, the sounder the defense of global democracy. The global democratic community should work even closer together to support the democratic umbrella as we seek ways to resolve the war in Ukraine and conflict between Israel and Hamas. Together, we must uphold stability in the Taiwan Strait and security in the Indo-Pacific, and achieve our goal of global peace. Second, we must continue to bolster our national strength, make Taiwan more economically resilient, and enhance the resilience of supply chains for global democracies. In the first half of 2024, growth in the Taiwan Stock Index was the highest in the world. Our economic growth rate for the year as a whole is expected to reach 4.2 percent, leading among the Four Asian Tigers. Domestic investment is soaring, having exceeded NT$5 trillion, and inflation is gradually stabilizing. Export orders from January to November totaled US$536.6 billion, up 3.7 percent from the same period in 2023. And compared over the same period, exports saw a 9.9 percent increase, reaching US$431.5 billion. Recent surveys also show that in 2024, the average increase in salaries at companies was higher than that in 2023. Additionally, over 90 percent of companies plan to raise salaries this year, which is an eight-year high. All signs indicate that Taiwan’s economic climate continues to recover, and that our economy is growing steadily. Our overall economic performance is impressive; still, we must continue to pay attention to the impact on Taiwan’s industries from the changing geopolitical landscape, uncertainties in the global economic environment, and dumping by the “red supply chain.”  For a nation, all sectors and professions are equally important; only when all our industries are strong can Taiwan be strong as a nation. Our micro-, small-, and medium-sized enterprises (MSMEs) are the lifeblood of Taiwan, and the development of our various industrial parks has given Taiwan the impetus for our prosperity. We must carry the spirit of “Made in Taiwan” forward, bringing it to ever greater heights. Thus, beyond just developing our high-tech industry, our Executive Yuan has already proposed a solution that will help traditional industries and MSMEs comprehensively adopt technology applications, engage in the digital and net-zero twin transition, and develop channels, all for better operational structures and higher productivity. Taiwan must continue enhancing its economic resilience. In recent years, Taiwan has significantly increased its investments in the US, Japan, Europe, and the New Southbound countries, and such investment has already surpassed investment in China. This indicates that our efforts in diversifying markets and reducing reliance on any single market are working. Moving forward, we must keep providing assistance so that Taiwan industries can expand their global presence and market internationally from a solid base here in Taiwan. At the same time, Taiwan must use democracy to promote economic growth with the rest of the world. We must leverage our strengths in the semiconductor and AI industries. We must link with democratic countries so that we can together enhance the resilience of supply chains for global democracies. And through international cooperation across many sectors, such as UAVs, low-orbit communications satellites, robots, military, security and surveillance, or biopharmaceuticals, renewable energy technology, new agriculture, and the circular economy, we must keep abreast of the latest cutting-edge technology and promote diverse development. This approach will help Taiwan remain a leader in advancing global democratic supply chains, ensuring their security and stability. Third, we must continue working toward a Balanced Taiwan and generational justice, ensuring that the fruits of our economic growth can be enjoyed by all our people. Democracy means the people have the final say. Our nation belongs to all 23 million of us, without regard for ethnic group, generation, political party, or whether we live in urban or rural areas. In this new year, we must continue to pursue policies that promote the well-being of the nation and the people. But to that end, the central government needs adequate financial resources to ensure that it can enact each of these measures. Therefore, I hope that the ruling and opposition parties can each soberly reconsider the amendments to the Act Governing the Allocation of Government Revenues and Expenditures and find a path forward that ensures the lasting peace and stability of our country. For nine consecutive years, the minimum wage has continued to rise. Effective today, the minimum monthly salary is being raised from NT$27,470 to NT$28,590, and the hourly salary from NT$183 to NT$190. We hope by raising the pay for military personnel, civil servants, and educators for two consecutive years, coupled with benefits through wage increases and tax reductions, that private businesses will also raise wages, allowing all our people to enjoy the fruits of our economic growth. I know that everyone wants to pay lower taxes and rent. This year, we will continue to promote tax reductions. For example, unmarried individuals with an annual income of NT$446,000 or less can be exempt from paying income tax. Dual-income families with an annual income of NT$892,000 or less and dual-income families with two children aged six or younger with an annual income of NT$1,461,000 or less are also exempt from paying income tax. Additionally, the number of rent-subsidized housing units will also be increased, from 500,000 to 750,000 units, helping lighten the load for everyone. This year, the age eligibility for claiming Culture Points has been lowered from 16 to 13 years, so that now young people aged between 13 and 22 can receive government support for experiencing more in the arts. Also, our Taiwan Global Pathfinders Initiative is about to take effect, which will help more young people in Taiwan realize their dreams by taking part in education and exchange activities in many places around the world. We are also in the process of establishing a sports ministry to help young athletes achieve their dreams on the field, court, and beyond. The ministry will also be active in developing various sports industries and bringing sports and athletics more into the lives of the people, making our people healthier as a result. This year, as Taiwan becomes a “super-aged society,” we will launch our Long-term Care 3.0 Plan to provide better all-around care for our seniors. And we will expand the scope of cancer screening eligibility and services, all aimed at creating a Healthy Taiwan. In addition, Taiwan will officially begin collecting fees for its carbon fee system today. This brings us closer in line with global practices and helps us along the path to our goal of net-zero emissions by 2050. We will also continue on the path to achieving a Balanced Taiwan. Last month, the Executive Yuan launched the Trillion NT Dollar Investment National Development Plan and its six major regional flagship projects. Both of these initiatives will continue to expand the investment in our public infrastructure and the development of local specialty industries, narrowing urban-rural and wealth gaps so that all our people can live and work in peace and happiness. My fellow citizens, today’s Taiwan is receiving international recognition for its performance in many areas, among them democracy, technology, and economy. This tells us that national development is moving in the right direction. In this new year, Taiwan must be united, and we must continue on the right course. We hope that everyone in the central and local governments, regardless of party, can work hard together to ensure that national policies are successfully implemented, with the people’s well-being as our top priority. This will allow Taiwan sure footing as it strides forward toward ever greater achievements. In this new year, we have many more brilliant stories of Taiwan to share with the world, inspiring all Taiwanese, both here and around the world, to cheer time and again for the glory of Taiwan. Taiwan will keep going strong. And we will keep walking tall as we enter the new global landscape. Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI China: Flu cases surge across US

    Source: China State Council Information Office 3

    This photo taken on May 22, 2024 shows the White House in Washington, D.C., the United States. [Photo/Xinhua]

    Flu cases are surging across the United States, forcing some schools to cancel classes or pivot to remote learning.

    There have been at least 24 million illnesses, 310,000 hospitalizations, and 13,000 deaths from flu so far this season in the United States, according to the latest estimates of the U.S. Centers for Disease Control and Prevention (CDC) released on Friday.

    Seasonal influenza activity remains elevated and continues to increase across the country, according to CDC.

    Ten influenza-associated pediatric deaths were reported during the latest week ending Feb. 1, bringing the season total to 57 pediatric deaths, according to CDC.

    More than 48,000 patients were admitted to hospitals with influenza this week.

    One human infection with an influenza A (H1N2) variant virus was reported this week, who is the first human infection with a variant influenza virus reported during the 2024-2025 season in the United States, according to CDC.

    At least 45 states and jurisdictions are reporting “high or very high” levels of the flu. Emergency room visits with influenza are now “very high” nationwide, CDC data show.

    Levels of influenza nationwide are now at the highest they have been since the peak of the 2009 swine flu pandemic, amid this winter’s second wave of the virus, CBS reported, citing CDC figures.

    Some schools around the country are canceling classes or pivot to online learning due to soaring respiratory illnesses.

    Influenza viruses are among several viruses contributing to respiratory disease activity.

    At the same time, the United States is seeing waves of norovirus, COVID-19 and RSV, known as “quad-demic.”

    MIL OSI China News

  • MIL-OSI China: ‘Ne Zha 2’ becomes top-grossing film in single market worldwide

    Source: China State Council Information Office 3

    A poster of the animated feature “Ne Zha 2” is pictured at a cinema in Shenyang, northeast China’s Liaoning Province, Feb. 6, 2025. [Photo/Xinhua]

    “Ne Zha 2,” the animated feature that has swept Chinese cinemas, has surpassed “Star Wars: The Force Awakens” to become the highest-grossing film in a single market globally.

    According to ticketing platform Beacon, the film had already grossed over 6.79 billion yuan (about 947 million U.S. dollars) on the Chinese mainland by 9:11 p.m. Friday, overtaking the North American box office for “Star Wars: The Force Awakens.”

    “Ne Zha 2” has already become the highest-grossing film of all time in China. By 1:25 p.m. Thursday, its earnings had exceeded 5.77 billion yuan — the previous record held by “The Battle at Lake Changjin” — in just eight days and five hours.

    Chinese netizens on various social media platforms have cheered on its success, leaving congratulatory posts and expressing high hopes for the progress of the Chinese film industry.

    “This is a true master of their own destiny,” one netizen wrote under the username Huang Lei, referring to a popular line delivered by the film’s protagonist, Nezha: “I am the master of my own destiny.”

    Ticketing platform Maoyan has revised its domestic box office forecast for “Ne Zha 2” upward to an impressive 10.85 billion yuan (approximately 1.51 billion U.S. dollars), making it the first Chinese film ever projected to surpass the 10-billion-yuan mark in total earnings.

    With these achievements under its belt, “Ne Zha 2” has firmly cemented its place at the pinnacle of China’s cinematic history. This milestone comes on the heels of its predecessor, “Ne Zha,” which grossed 5 billion yuan and topped the country’s box office charts in 2019.

    The sequel continues the story of the iconic character from Chinese mythology. Set after the events of the first film, it follows Nezha and Aobing as their souls are saved but their physical forms face dissolution. With the help of the immortal Taiyi Zhenren, who uses the Seven-Colored Lotus to reconstruct their bodies, the two heroes must face numerous challenges.

    The film combines breathtaking animation with a rich narrative rooted in traditional folklore, taking audiences on an emotional journey that blends action, humor, and heart.

    “Ne Zha 2” has captivated audiences and maintained its strong box office momentum since its release during the Chinese New Year.

    The animated feature alone accounted for half of what has amounted to a historic 2025 Spring Festival holiday box office total — a total which surpassed 9.5 billion yuan from Jan. 28 to Feb. 4.

    Its broad appeal is evident in its audience demographics. Over 30 percent of “Ne Zha 2” viewers attended theaters in groups, a notably high figure compared to other films, said Beacon analyst Chen Jin, citing data from the platform.

    The sequel has drawn large numbers of young families, making it a film that resonates across all ages.

    Additionally, “Ne Zha 2” has successfully attracted a significant number of viewers aged 30 to 39, a group that had largely retreated from cinemas in recent years, according to Chen. These mid-to-low-frequency moviegoers have returned to theaters thanks to the film’s exceptional word-of-mouth popularity.

    This robust performance marks a major win for China’s film industry, which faced a tough year in 2024, with box office revenues down 23 percent from 2023 and 34 percent from the pre-pandemic peak in 2019.

    In this context, the record-breaking success of “Ne Zha 2” is being hailed as a much-needed boost for the sector.

    Maoyan analyst Lai Li described the film as a major milestone, particularly for China’s growing animation industry. “The success of ‘Ne Zha 2’ has set the tone for the year,” Lai said. “It highlights the incredible resilience and growth potential of China’s film market, and we’re excited to see how the rest of 2025 unfolds.”

    Beyond its domestic box office figures, “Ne Zha 2” is poised to make waves internationally and act as a cultural bridge offering global audiences a glimpse into China’s rich mythology and traditions.

    Director Yang Yu, known as Jiaozi, has emphasized that the international success of Chinese cinema depends on the intrinsic charm of the works themselves. “It’s about whether a script, a story and its characters can move audiences worldwide,” he said in a video interview. “These are not things that can be outsourced.”

    Jiaozi also shared the personal journey the “Ne Zha” films have taken him on, explaining how the series has evolved from his own passion into a broad cultural phenomenon.

    “The first step was creating something I loved, and domestic audiences loved it too,” he said. “Over time, I’ve worked to improve it, to refine my craft. I believe that one day, new ideas, deeper meanings, and new soul will emerge from it, and the whole world will be able to appreciate it.”

    His views have been echoed by film industry experts. Rao Shuguang, president of the China Film Critics Association, attributed the film’s extraordinary success to its fusion of traditional Chinese mythology and modern storytelling, which makes it highly relatable to contemporary audiences.

    “The film proves that a good movie needs a compelling story, sharp storytelling, and well-developed characters,” Rao told Xinhua, voicing hope that China will continue to produce high-quality films that engage audiences and draw more people to theaters.

    MIL OSI China News

  • MIL-OSI Security: Dumfries man pleads guilty to nearly $150,000 fraud of COVID relief program

    Source: United States Department of Justice (National Center for Disaster Fraud)

    ALEXANDRIA, Va. – A Dumfries man pled guilty today to wire fraud in connection with his fraudulent application for and receipt of funds through a COVID-19 relief program.

    According to court documents, in 2021, Kingsley Apenteng, 40, was the registered owner of Pioneers Real Estate LLC (Pioneers). From at least 2017 through 2021, Pioneers had no employees, transacted no business, and was completely inactive.

    In March 2021, Apenteng completed and signed a loan application seeking $149,740.00 for Pioneers through the Paycheck Protection Program (PPP), a COVID-19 relief program intended to provide loans to certain businesses to help them retain their employees or stay afloat during the pandemic. Apenteng falsely claimed on the application that, during all of 2019 and the first quarter of 2020, Pioneers had nine employees and paid them, on average, a combined payroll of $59,896 per month. Apenteng falsely certified on the application that the PPP loan funds he was requesting would be used to pay the wages of those employees.

    Apenteng prepared fraudulent tax return forms to support the PPP application. Apenteng filled out five IRS Forms 941 for Pioneers, one for each quarter of 2019 and the first quarter of 2020. To make these forms appear legitimate, Apenteng falsely claimed that they had been prepared by a professional tax preparer. Apenteng wrote the name of a real tax preparer, forged that person’s digital signature, and entered that person’s business information.

    Apenteng also fraudulently altered a bank account statement. After downloading a PDF of a monthly statement for Pioneers’ bank account, Apenteng used a computer program to alter the date and transaction information on the statement to make it appear that Pioneers paid payroll to employees during the first quarter of 2020.

    On or around March 10, 2021, Apenteng caused the fraudulent PPP loan application, tax forms, and bank statement to be electronically submitted to a lender and to the Small Business Administration (SBA). Based on the false claims in those fraudulent documents, Apenteng’s PPP loan application was approved and Apenteng received PPP loan funds in the amount of $149,740.00 on April 28, 2021.

    On Nov. 2, 2021, Apenteng submitted a loan forgiveness application to the SBA for the Pioneers PPP loan. Apenteng again falsely claimed that Pioneers had nine employees and claimed that he spent all the PPP loan funds on their wages. On Nov. 9, 2021, the SBA approved Apenteng’s loan forgiveness application and reimbursed the lender for the full amount of the loan. Apenteng never repaid any portion of the PPP loan.

    Apenteng is scheduled to be sentenced on May 6 and faces up to 20 years in prison. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia, and Sean Ryan, Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division, made the announcement after U.S. District Judge Leonie M. Brinkema accepted the plea.

    Assistant U.S. Attorney Jordan Harvey is prosecuting the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:25-cr-21.

    MIL Security OSI

  • MIL-OSI Security: Feeding Our Future Defendant Sentenced to 43 Months in Prison For Her “Flagrant” Role in $250 Million Fraud Scheme

    Source: Office of United States Attorneys

    MINNEAPOLIS – Sharon Denise Ross, 54, of Willernie, Minnesota, has been sentenced to 43 months in prison followed by three years of supervised release for her role in a $250 million fraud scheme that exploited a federally funded child nutrition program during the COVID-19 pandemic, announced Acting U.S. Attorney Lisa D. Kirkpatrick. Ross was also ordered to pay restitution in the amount of $2,434,360. Ross was further ordered to forfeit to the United States all property derived from fraud proceeds, including her house in Willernie.

    Ross was charged in a 12-count indictment on March 7, 2023, with wire fraud and money laundering for her role in devising and carrying out a multi-million dollar scheme to defraud the Federal Child Nutrition Program.  On January 10, 2024, Ross pled guilty to one count of wire fraud.

    According to court documents, Ross was the executive director of House of Refuge Twin Cities, a St. Paul-based non-profit which she enrolled in the Federal Child Nutrition Program under the sponsorship of Feeding Our Future and Partners in Nutrition. Ross claimed that House of Refuge operated distribution sites at a dozen locations throughout the Twin Cities that served food by a vendor called Brava Café, a restaurant in Minneapolis run by Hanna Marakegn. Between September 2021 through February 2022, Ross falsely claimed to be serving thousands of children each day at her House of Refuge sites, which included fraudulently claiming to feed children at multiple area churches.  In total, Ross fraudulently claimed to have served nearly 900,000 meals and she received approximately $2.4 million in fraudulent Federal Child Nutrition Program funds. Ross distributed hundreds of thousands of dollars to family members and used the rest of the money to fund her lifestyle, including to pay for vacations to Florida and Las Vegas, to purchase a suite at a Minnesota Timberwolves game, and to purchase her house in Willernie.

    In handing down the sentence today, Judge Nancy E. Brasel commented that Ross “used a position of trust in the community” for her own “flagrant personal gain.” Judge Brasel further noted that Ross’s crime was all the more aggravating because she acquired large amounts of fraudulent money in an “extremely short time span” while Ross was on probation for another fraud.

    The case is the result of an investigation by the FBI, IRS – Criminal Investigations, and the U.S. Postal Inspection Service. 

    Assistant U.S. Attorneys for the District of Minnesota Joseph H. Thompson, Harry M. Jacobs, Matthew S. Ebert, and Daniel W. Bobier prosecuted the case. Assistant U.S. Attorney Craig Baune is handling the seizure and forfeiture of assets.
     

    MIL Security OSI

  • MIL-OSI USA: ICYMI: Ernst: Kelly Loeffler is the Champion Small Businesses Need

    US Senate News:

    Source: United States Senator Joni Ernst (R-IA)

    WASHINGTON – In case you missed it, Senate Committee on Small Business and Entrepreneurship Chair Joni Ernst (R-Iowa) made the case for the Honorable Kelly Loeffler, based on her success as a business leader, to lead the Small Business Administration (SBA).
    In the Washington Examiner, Ernst lays out how Loeffler, who advanced out of committee this week with bipartisan support, will reverse the damage done over the last four years, increase transparency and accountability at the SBA, and prioritize the needs of small businesses.

    Kelly Loeffler is the champion small businesses need
    By: Chair Joni Ernst 
    In Iowa and across the country, Main Street is in trouble.
    Small businesses are the lifeblood of communities, but under former President Joe Biden’s administration, they were crushed by bureaucratic overreach.
    After four years of price hikes and dismay, optimism on Main Street recently surged to its highest level since 2018 because job creators are eager for Republicans and the Trump administration to revitalize the small business economy.
    That starts with fixing the broken Small Business Administration, which has become a bloated bureaucratic mess.
    Change starts at the top, and we need a proven business leader as SBA administrator to gut the red tape and refocus the agency on serving Main Street.
    As an accomplished businesswoman, Kelly Loeffler is the perfect person for the job.
    Throughout her career, she rose through the ranks at multiple companies due to her determination and grit. She also started many businesses and knows what it takes to be a successful entrepreneur.
    Most importantly, she knows what it means to be overrun by Washington’s bureaucratic overreach — and that the government must instead get out of the way so businesses can thrive.
    I believe substantial reforms must be made to get the SBA back in shape, and that will require strong leadership.
    While the SBA once may have been characterized as a smaller agency, COVID-19-era small business programs made the agency a household name, as it received $1.1 trillion in taxpayer funding to assist small businesses during the pandemic.
    With that funding came big responsibilities, and I remain concerned that the SBA has too often failed to live up to its mission.
    The Biden administration decided to turn a blind eye to COVID-19 fraud and delinquencies, refusing to properly collect outstanding debt and fraudulent funds, which has huge implications for the taxpayer.
    Reports have indicated the SBA charged about $18.6 billion worth of economic injury disaster loans in fiscal 2024.
    The agency has also been unable to provide an accounting of its loans receivable and loan guarantees, which means the Government Accountability Office hasn’t been able to even issue a financial audit of the agency since fiscal 2020.
    The SBA also mismanaged and misinformed Congress last year regarding its disaster loan account, resulting in a shortfall that lasted 66 days — an unacceptable failure for the disaster victims in North Carolina, South Carolina, Georgia, Virginia, and Florida.
    On top of this, it also appears the agency’s workforce continues to stay home, while its more than 246,000-square-foot Washington headquarters sits empty.
    The GAO found that even if everyone did show up to work in person, the SBA’s building space would still only be 67% utilized.
    That is why I introduced a bill to relocate 30% of the headquarters workforce to the SBA district offices across the country and cut 30% of office space. Not only will this save taxpayers money, but it will bring SBA employees closer to the people they serve.
    As chairwoman of the Senate Committee on Small Business and Entrepreneurship, I will work with Loeffler to ensure that the SBA effectively utilizes its personnel and that small businesses across the country can access resources if they need them.
    Small businesses will drive America into the Golden Age, but only if we get Washington out of the way.
    Loeffler will get the job done, and I encourage my Senate colleagues to confirm her, so we can unleash the small business economy.

    MIL OSI USA News

  • MIL-OSI USA: Conversation with Mothers on Affordability

    Source: US State of New York

    Earlier today, Governor Kathy Hochul convened a conversation with mothers at Fox’s Deli in Rochester to highlight her 2025 State of the State affordability agenda.

    B-ROLL of the Governor meeting with mothers at Fox’s Deli can be found on YouTube and in TV quality (h.264, mp4) format.

    VIDEO: The event is available to stream on YouTube here and TV quality video is available here (h.264, mp4).

    AUDIO: The Governor’s remarks are available in audio form here.

    PHOTOS: The Governor’s Flickr page will post photos of the event here.

    A rush transcript of the Governor’s remarks is available below:

     Well, I guess you’ve already seen my lunch partners here. I want to thank Sarah Sherwood and Keana DuBoise and Sophia – hi, Sophia – and Emily Jensen for sharing with me for a few moments at Fox’s Deli. Great place.

    Just the stresses of being a mom in today’s society – trying to raise kids, trying to deal with the ever rising cost of everything you need. We’re talking about the cost of the fruits that the little kids like, the strawberries and the blueberries. I mean, you want to give your kids healthy foods, but their costs are – so we talked about the cost of eggs – unbelievably high. There’s a lot going on for families and I wanted to take some time to share with them my priorities as New York’s first mom Governor who actually had to go experiencing the same worries, not that many years – well, actually a few years ago. I’ll admit that, a few years ago.

    But it seems like it was yesterday when the cost of diapers and formula and just the clothes that they outgrew every three months – it’s a lot then and now with the cost of everything because of inflation being so much higher, and it’s been really rough since the pandemic. So it’s important for me to just get out into our communities.

    I’ve spent a lot of time in the Finger Lakes region. I used to represent parts of this area in Congress. And I’ve been to this community many, many times. And I just wanted to let them have a chance to share with me those concerns, but also the cost of child care.

    When you hear what people pay to have their children watched, and whether you have a little one or you’re expecting another little one, this is something that you’re thinking about all the time. And we also talked about the high cost of rent – how expensive it is and will I be able to stay here? I love this neighborhood, but the costs keep going up and up and up.

    I just wanted to assure them that I’ve heard their cries for help. I knew this, and that’s why my Budget, just unveiled a few weeks ago, really talks about what I want to do, which is to make your family my fight.

    And so, what does that mean? Putting more money back in your pockets. Countless ways, but starting with a child tax credit that before I became Governor was literally zero for little kids. We’re going to put $1,000 in the pockets of families for each child under the age of four. It adds up quickly, a significant amount of money. We also talked about a middle class tax cut, the largest in 70 years. So we’re excited about getting that approved by the legislature.

    The inflation rebate, what does that mean? It means that because of inflation, people spent lots more money on everything, and we collected more at the state level. We collected $3 billion more than anticipated. So what do you do with it? You give it back to the people who overpaid all those years and so that’s going to result in over $500 back in people’s pockets as well.

    And lastly, two more things. I want to point out that the cost of breakfasts and lunches for kids who are school age, we’re going to cover that cost for a number of reasons. One is it gives time back to busy parents, it also becomes a great equalizer. There are children today who are skipping lunch and meals because of the stigma associated if they’re on a subsidized plan or they’re getting support from the government because their parents don’t make enough money. We want these kids to be fed. We don’t want them to be stigmatized and feel different than the other children, and also busy parents do not have to worry about the time involved in breakfast and lunches. But also it comes out to about another $1,600 per year per child back in parents’ pockets. You add all that up, we’re talking about $5,000 more in families pockets.

    If I can get this through the legislature, I’m excited about the opportunities. Let families know we hear them, we understand what they’re going through, and anything we can do to alleviate that burden and put more money back in their pockets will always be my priority.

    MIL OSI USA News

  • MIL-OSI Security: Former Massachusetts State Senator Sentenced to 18 Months in Prison for COVID and Tax Fraud

    Source: Office of United States Attorneys

    BOSTON – Former Massachusetts State Senator Dean A. Tran was sentenced today in federal court in Boston for scheming to defraud the Massachusetts Department of Unemployment Assistance and collecting income that he failed to report to the Internal Revenue Service (IRS).

    Tran, 48, of Fitchburg, was sentenced by U.S. District Court Chief Judge F. Dennis Saylor, IV to 18 months in prison, to be followed by two years of supervised release. Tran was also ordered to pay $25,100 in restitution to the Massachusetts Department of Unemployment Assistance and $23,327 to the Internal Revenue Service, as well as a $7,500 fine and a mandatory assessment of $2,300. In September 2024, Tran was convicted of 20 counts of wire fraud and three counts of filing false tax returns. The defendant was indicted by a federal grand jury in November 2023.    

    Tran served as an elected member of the Massachusetts State Senate, representing Worcester and Middlesex Counties from 2017 to January 2021. After Tran’s State Senate term ended in 2021, Tran fraudulently received pandemic unemployment benefits while simultaneously employed as a paid consultant for a New Hampshire-based retailer of automotive parts (the Automotive Parts Company). While working as a paid consultant for the Automotive Parts Company, Tran fraudulently collected $30,120 in pandemic unemployment benefits.  

    In addition, Tran concealed $54,700 in consulting income that he received from the Automotive Parts Company from his 2021 federal income tax return. This was in addition to thousands of dollars in income that Tran concealed from the IRS while collecting rent from tenants who rented his Fitchburg property from 2020 to 2022.

    “When Dean Tran took his oath of office as a Massachusetts State Senator, he willingly entered into a world of being in the public eye. He chose to violate the public’s trust not once, but twice by defrauding the government out of unemployment benefits and willfully omitting his taxable income. His fraud and calculated deception erode the public’s trust in elected officials and diverted money away from those who truly needed it,” said United States Attorney Leah B. Foley. “Our office and our law enforcement partners are committed to rooting out public officials who violate the law and holding them accountable for their actions.”

    “Former Massachusetts State Senator Dean Tran stole taxpayer funds intended for American workers who lost their jobs due to the COVID-19 pandemic. His sentencing affirms the Office of Inspector General’s commitment to prioritize and investigate allegations of fraud involving the U.S. Department of Labor’s (DOL) unemployment insurance (UI) program. We will continue to work with our law enforcement partners to protect the integrity of the UI system from those who exploit this critical benefit program,” stated Jonathan Mellone, Special Agent-in-Charge, Northeast Region, U.S. Department of Labor, Office of Inspector General.

    “Today’s sentencing of Dean Tran demonstrates that no one is above the law, even elected officials,” said Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office. “Elected officials are held to a higher standard when they take an oath to serve but to Tran, his oath meant nothing when he chose to steal from the America taxpayers on two separate occasions. Tran stole from a pandemic unemployment program designed to help those most in need. Tran proceeded to harm the American public further when he decided not to report his taxable income, the most basic of principles all Americans are expected to follow.”

    “Former Massachusetts State Senator Dean Tran blatantly defrauded a government program meant to keep businesses and workers afloat during the pandemic, using the money for his own personal expenses, effectively stealing funds from others who needed them,” said Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigations Boston Division. “The FBI and our partners will continue to crack down on frauds like this because willfully defrauding the government and cheating honest taxpayers is a federal crime.”

    U.S. Attorney Foley, DOL-OIG SAC Mellone, Acting IRS-CI SAC Thomas Demeo and FBI SAC Cohen made the announcement. Assistant U.S. Attorneys Dustin Chao and John T. Mulcahy of the Office’s Public Corruption & Special Prosecutions prosecuted the case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus and https://www.justice.gov/coronavirus/combatingfraud.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline via the NCDF Web Complaint Form.
     

    MIL Security OSI

  • MIL-OSI United Nations: Experts of the Committee on the Elimination of Discrimination against Women Commend Luxembourg for Eliminating the Gender Pay Gap, Ask about Pension Payments for Women and Penalties for Traffickers

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women today concluded its consideration of the eighth periodic report of Luxembourg, with Committee Experts congratulating the State on eliminating the gender pay gap, and raising questions about pension payments for women and penalties for human traffickers.

    Ana Peláez Narváez, Committee Expert and Rapporteur for Luxembourg, congratulated Luxembourg on becoming the first country in the European Union to have eliminated the pay gap between men and women.  One Expert said Luxembourg’s wage gap was the lowest in the world.

    One Expert called for further efforts to achieve wage equality for women in part-time work and in the informal sector. Almost one-third of women worked part time; this affected the pension gap.  How was the State party working to address this gap?

    A Committee Expert said the State party’s sentences for trafficking were often lenient and judges rarely took away traffickers’ profits.  How would the State party ensure that penalties for trafficking reflected the gravity of the crime?  The Expert said the State party had not identified child trafficking victims for three years.  Would the State party include civil society in efforts to identify child victims?

    Introducing the report, Yuriko Backes, Minister for Gender Equality and Diversity, Defence, Mobility and Public Transport of Luxembourg, said the Luxembourg Government remained determined to stand up for women’s and girls’ rights, safety, freedom and access to equal opportunities.  The Committee could count on Luxembourg’s determination and support.

    On wage equality, Marc Bichler, Permanent Representative of the Grand Duchy of Luxembourg to the United Nations Office at Geneva and head of the delegation, said Luxembourg was the only country in the European Union to have eliminated wage inequality, but there was still a pay gap in favour of men for annual wages.  More efforts were needed to address this economic inequality, particularly regarding the high proportion of part-time work among women.  The role of equality officers in private companies with more than 15 employees was particularly important.

    The delegation added that the gender pension gap was large; to address this, a major reform of the pension system was underway.

    On trafficking, the delegation said that training had been provided to State officials and non-governmental organizations to improve the identification of and support for trafficking victims. Victims were officially identified by a specialised unit of the police, but non-governmental organizations could help identify victims.

    In concluding remarks, Mr. Bichler said the dialogue had been a valuable exercise that helped the State party to make progress in implementing the Convention and upholding the rights of women and girls.  There were pushbacks against women and girls’ rights globally, but Luxembourg was resolute in defending these rights.

    In her concluding remarks, Corinne Dettmeijer-Vermeulen, Committee Vice-Chair and acting Chair of the meeting, said that the dialogue with Luxembourg had provided further insight into the situation of women in the State party.  The Committee commended the State party for its efforts and called on it to implement the Committee’s recommendations for the benefit of all women and girls of Luxembourg.

    The delegation of Luxembourg consisted of representatives from the Ministry of Gender Equality and Diversity; Chamber of Deputies; Ministry of Justice; Ministry of Family Affairs, Solidarity, Living Together and Reception of Refugees; Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade; Ministry of Education, Children and Youth; Ministry of Internal Affairs; and the Permanent Mission of Luxembourg to the United Nations Office at Geneva.

    The Committee will issue the concluding observations on the report of Luxembourg at the end of its ninetieth session on 21 February.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 3 p.m. on Monday, 10 February to hold an informal meeting with representatives from non-governmental organizations and national human rights institutions from Belize, Congo, Sri Lanka and Liechtenstein, whose reports will be considered by the Committee next week.

    Report

    The Committee has before it the eighth periodic report of Luxembourg (CEDAW/C/LUX/8).

    Presentation of Report

    YURIKO BACKES, Minister for Gender Equality and Diversity, Defence, Mobility and Public Transport of Luxembourg, said women’s rights, gender equality and diversity were essential to the wellbeing and healthy functioning of society.  Ms. Backes said she tried very hard to make sure that both gender and diversity aspects were considered throughout her Government portfolios.  She was the first woman to hold the positions of Minister of Defence and Minister of Finance in Luxembourg.  This demonstrated that there was work ahead when it came to shaping a world where equality was a reality on all levels. 

    Women and girls were differently and disproportionally affected by climate disasters, armed conflicts and pandemics.  The only way to sustainably change this was to opt for gender-responsive policymaking across all fields.  The empowerment of women and girls and Sustainable Development Goal five needed to be front and centre across all areas of action.  The Luxembourg Government remained determined to stand up for women’s and girls’ rights, safety, freedom and access to equal opportunities.  The Committee could count on Luxembourg’s determination and support.

    MARC BICHLER, Permanent Representative of Luxembourg to the United Nations Office at Geneva and head of the delegation, said Luxembourg had had a Ministry in charge of equality issues for 30 years.  It had adapted over time, expanding its mandate to address lesbian, gay, bisexual, transgender and intersex persons and diversity.  The 2023-2028 coalition agreement maintained the promotion of equality between women and men as a cross-cutting priority of the Government’s political action.  This work would be guided in the coming years by the national action plan for equality between women and men.

    Luxembourg was currently placed seventh in the European Union in the Gender Equality Index. The proportion of women on the management boards of public institutions was 38.64 per cent, an increase of more than 10 points since 2015.  The rate of women representing the State on these boards stood at 43.61 per cent in 2024, exceeding the initial target of 40 per cent.  The private sector had only 23 per cent women on the boards of large companies, but the trend was upward and indicated improvements to come.  The Government remained firmly committed to continuing its efforts to promote balanced representation.  It was also working with civil society to include men as actors and beneficiaries of equality policies. 

    Luxembourg was the only country in the European Union to have eliminated wage inequality, but there was still a pay gap in favour of men for annual wages.  More efforts were needed to address this economic inequality, particularly regarding the high proportion of part-time work among women. The role of equality officers in private companies with more than 15 employees was particularly important.

    The fight against domestic violence and gender-based violence remained priorities of the Luxembourg Government.  Despite political and legislative progress, this was a daily reality in Luxembourg, affecting women and girls, as well as men and boys in all their diversity.  The total number of victims had increased significantly over the years, from 2,882 in 2015 to 4,793 in 2023.  Women accounted for an average of 71 per cent of victims each year.  In 2023, their number reached 3,218, which represented an increase of more than six per cent compared to 2022.  Luxembourg adopted a strategy in November 2021 to improve the protection against domestic violence and to strengthen the national machinery.  It had created an integrated national centre for victims of all forms of violence, which would facilitate their holistic care, bringing together legal aid, medical aid and psychological assistance.  The centre would open in April and would provide assistance to victims 24/7.

    Luxembourg was in the process of developing a national action plan on gender-based violence, which would support more comprehensive care to victims of different forms of gender-based violence.  It was, in collaboration with civil society, convening several awareness raising campaigns on this topic, including the annual “Orange Week” event, which brought together many actors to stand in solidarity with women and girls who were victims of violence.  A specific system had also been set up to provide consultations and therapeutic care to perpetrators to break the cycle of violence.  Since ratifying the Istanbul Convention, Luxembourg had been firmly committed to monitoring its implementation in a cross-cutting manner.

    A new Grand-Ducal regulation of 2023 strengthened the role of the “Prostitution Commission” to monitor prostitution and to combat pimping and trafficking in human beings. The inclusion of State experts as well as civil society would allow the commission to carry out timely and comprehensive follow-up.  Luxembourg had approved a bill on the prohibition of virginity examinations and certificates, the ban on hymenoplasty, and the abolition of the reflection period for the voluntary termination of pregnancy.  In addition, in 2023, an adaptation to the Penal Code introduced a new definition of rape based on the notion of consent.  The State was currently finalising its second action plan on women, peace and security.

    Luxembourg aimed to uphold a modern and egalitarian society in which every citizen could find their place, regardless of their gender.

    MANDY MINELLA, Deputy Head of the Committee Department, Chamber of Deputies of the Grand Duchy of Luxembourg, said the Chamber of Deputies of Luxembourg was a crucial actor in combatting discrimination against women.  The Chamber supported Orange Week, lighting its buildings in orange during the week.  Meetings on gender equality were held regularly.  A working group on gender equality had been set up to develop a strategy for promoting gender equality within the Chamber.  The status of members of parliament had been reformed to recognise the status of pregnant members.  The Chamber needed to represent and respect the rights and opinions of all and meet the expectations of its people.

    LAURA CAROCHA, Human and Social Sciences Expert, Consultative Commission of the Grand-Duchy of Luxembourg on Human Rights, welcomed the efforts made by the Luxembourg State to combat discrimination against women since the last report, while noting persistent shortcomings, including a social system that kept women in a subordinate position to men.  Luxembourg’s policy favoured a “neutral” approach that was not gender sensitive.  Ms. Carocha urged politicians to openly acknowledge this systemic patriarchal domination and to make the deconstruction of this mechanism a priority. 

    It was imperative that the Government implemented the principle of gender mainstreaming in a cross-cutting manner in all its policies.  Luxembourg’s equality efforts lacked an intersectional approach and the Government rarely addressed multiple and intersecting forms of discrimination.  To implement such an intersectional approach, it was essential to have detailed data, disaggregated by gender, age, ethnicity, disability and education level.  This would allow the State to identify shortcomings in policies and better understand and target the needs of women.

    Questions by a Committee Expert 

    ANA PELÁEZ NARVÁEZ, Committee Expert and Rapporteur for Luxembourg, said that Luxembourg ranked twentieth in the Human Development Index and was the first country in the European Union to have eliminated the pay gap between men and women. The State party had ratified the Istanbul Convention and the International Labour Organization Convention on forced labour, and introduced legislation to combat multiple forms of discrimination over the reporting period.  However, the revised Constitution of 2021 drew a distinction between Luxembourg nationals and non-nationals and lacked protections against forced labour and trafficking.  How did the State party justify the amendments to the Constitution? Would the State party eliminate the distinction between Luxembourg nationals and non-nationals?

    Luxembourg had adopted a law creating the position of a family judge, an act on the provision of legal aid, and an act amending the Criminal Code to strengthen the response to sexual abuse of minors.  The Committee was concerned about the barriers inhibiting access to justice for women.  What measures were in place to overcome these barriers?  Why had the Centre for Legal Treatment not been given the power to initiate legal proceedings on behalf of victims?

    The Committee commended the State party’s national action plan on business and human rights. However, funds deposited in certain banks in Luxembourg may have come from the exploitation of human beings overseas, particularly women.  What rules were imposed on companies domiciled in the State party?  How did the State party address extraterritorial violations?

    Responses by the Delegation

    The delegation said Luxembourg adopted a neutral approach in its legislation on discrimination. The State believed that women’s rights were human rights.  The neutral approach was grounded on the principle of gender equality.

    Each person in Luxembourg who was subject to criminal proceedings benefited from procedural guarantees, regardless of their residence status or nationality.  These guarantees covered access to a lawyer, the presumption of innocence and, to an extent, legal aid.

    Civil suits could be filed in Luxembourg by victims of discrimination by private enterprises. Luxembourg was transposing European Union guidelines on its supply chains, promoting due diligence for companies and organising public events related to business and human rights. Since 2017, Luxembourg had been working to implement and align with the United Nations Guiding Principles on Business and Human Rights, conducting consultations with private entities and civil society.  Companies in the banking and insurance sector had provided positive feedback regarding the implementation of the Guiding Principles.  The financial sector was aware of its obligations.  The State was working to address its extraterritorial obligations to provide remedies to the victims of human rights violations occurring overseas.

    The revised Constitution stated that people in Luxembourg were equal before the law. Non-Luxembourg nationals could not vote in legislative elections but could vote in municipal elections.

    Questions by Committee Experts 

    A Committee Expert commended Luxembourg’s commitment to gender equality, human rights, and to dismantling stereotypes.  The State party had demonstrated its commitment to the women, peace and security agenda through its women, peace and security national action plan.  What was the status of the second iteration of the plan? Was feminism still a part of foreign policy?

    Various sources had criticised the Ministry of Gender and Equality’s neutral approach.  The Committee hoped that its policies would address structural gender inequalities.  There were concerns regarding the depth of the analysis of the Observatory for Gender Equality.  What measures were in place to increase the depth of its analysis?

    ANA PELÁEZ NARVÁEZ, Committee Expert and Rapporteur for Luxembourg, said that the State party had established voluntary quotas in some areas, including minimum quotas of 40 per cent representation of one sex on political bodies and 30 per cent representation on the boards of State agencies.  There were concerns that these measures were gender-neutral and not mandatory, and that they did not encourage the representation of vulnerable groups of women.  What efforts were being taken by the State party to improve its temporary special measures and to make its quotas mandatory?

    Responses by the Delegation

    The delegation said the State party was striving to eliminate gender equality with ad-hoc programmes targeted at underrepresented genders.  There were programmes targeting violence against women and preparing women to defend themselves.  The legal framework was neutral but the actions taken by the Government were not.

    Luxembourg would work proactively on gender mainstreaming in the field of defence. The second iteration of the women, peace and security national action plan would be adopted this year in March. It would promote the role of women in peace and security initiatives.

    If political parties did not meet the 40 per cent representation quota for each sex, their funding was reduced.  The State party was raising the awareness of political parties and candidates on the importance of equality.  A database with profiles of women who wished to become board members of associations would soon be launched to promote women’s representation.

    Questions by Committee Experts

    A Committee Expert congratulated the State party on its plan to launch the second iteration of the women, peace and security initiative this March.  No non-governmental organizations from Luxembourg had interacted with the Committee during this review process.  How would the State party encourage civil society to provide alternative reports in future sessions?

    Another Committee Expert said that gender stereotypes in the media had not been sufficiently addressed, and women accounted for only around one fourth of all media workers. How was the Government addressing these issues?  How was the State party conducting gender impact assessments, as recommended by the Committee in 2018?  How did legislation and policies address sterilisation and irreversible medical procedures against intersex children?  Had the State party considered broadening the statute of limitations for rape, which was limited to 10 years?  Did the State party plan to establish psychological violence as a stand-alone crime?  Training on gender-based violence was not provided to judges.  How would the State party improve data collection on court cases involving gender-based violence?  Why had retrospective analysis of femicides not been conducted?

    One Committee Expert said that the State party’s definition of trafficking in persons did not align with international standards.  Would it amend this legislation?  Sentences were often lenient and judges rarely took away traffickers’ profits or granted remedies to victims.  How would the State party ensure that penalties for trafficking reflected the gravity of the crime and ensure that victims received adequate compensation?  What was the timeline for implementation of the national action plan on trafficking in persons?  How would the plan integrate gender-specific aspects of trafficking?  The State party had not identified child trafficking victims for three years.  Would the State party include civil society into efforts to identify child victims, and prevent the inappropriate penalisation of trafficking victims?  The Committee welcomed the State party’s policies addressing prostitution.  Were there plans to decriminalise prostitution?

    Responses by the Delegation

    The delegation said that the State party valued permanent collaboration with civil society. The Ministry of Equality paid 80 per cent of its budget to civil society to promote the rights of vulnerable groups, particularly women.  Luxembourg hosted around 100 non-governmental organizations, despite its small population of 600,000, and these groups had contributed to various Government policies. Non-governmental organizations did not always have the resources needed to travel overseas to participate in dialogues with the Committee.

    An internal assessment of the first women, peace and security national action plan had been conducted and lessons learned would be included in the second plan.  The second plan would place greater emphasis on cooperation with civil society.

    The Government was engaging in dialogue with the media sector to improve the representation of women. The Advertising Ethics Commission received complaints related to discrimination and sexism.  Awareness raising campaigns were being carried out on sexism, discrimination and violence in the media.  A working group on hate speech had been set up that cooperated with the police force and associations working with perpetrators.  The digital service act strived to combat illicit content and encouraged platforms to delete such content swiftly.

    The law on femicide was revised in 2023.  There had yet to be any rulings handed down based on this legislation.  There were plans to collect statistics on femicide. The national action plan on gender-based violence was based on the Istanbul Convention and had been developed to strengthen protections and services for victims, as well as training on gender-based violence.  The State party would address psychological violence in the national action plan on all forms of gender-based violence and would consider establishing a law on this form of violence.

    The Government was working to protect the gender identity of intersex persons and was following Council of Europe regulations on the prevention of irreversible medical procedures against intersex persons.

    In Luxembourg, it was enough to prove that a person had the potential of exploiting an individual to hold them criminally liable for trafficking.  Training had been provided to State officials and non-governmental organizations to improve the identification of and support for trafficking victims.  Victims were officially identified by a specialised unit of the police, but non-governmental organizations and the labour inspectorate could help identify victims.  Street walks were carried out to identify victims of trafficking and provide support to women in prostitution.  Sex workers were not criminalised; clients were criminalised if they knew that the sex worker was a minor or a victim of trafficking.

    Questions by Committee Experts

    Another Committee Expert commended the efforts Luxembourg had made to promote gender equality, including its quota of 40 per cent representation in political bodies. Despite high representation at the national level, women’s representation in municipal governments was around 20 per cent.  What measures were in place to bridge the gender gap in municipalities?  The 2022 law aiming to enhance the participation of foreign nationals in elections was note-worthy.  How did the State party ensure that foreigners were meaningfully included in public life?  Were there targeted initiatives encouraging women to pursue careers in Luxembourg’s foreign service?  Women only made up around 12 per cent of Luxembourg’s military.  What measures were in place to increase their representation in security and military sectors?  Women also accounted for just 23 per cent of board members of private companies.  Were there plans to extend quotas to private sector boards?

    One Committee Expert commended the State’s progress in advancing the rights of women and girls in education.  Primary and secondary education was free for all children in Luxembourg, and compulsory education had recently been extended to 18 years.  Could the State party provide disaggregated data on women working in science, technology, engineering and maths fields?  How was the State party encouraging study in these subjects? The Committee welcomed that the State party had endorsed the Safe Schools Declaration.  How was the State party supporting the international community in the effective implementation of the Declaration?  What measures were in place to support vulnerable women in education? How was the State preventing online violence, ensuring the responsible use of digital technology, and working to close the digital gender gap?

    Responses by the Delegation

    The delegation said underrepresentation of women in decision making fora was a key challenge for the Government.  Funding was reduced for political parties that did not uphold quotas.  Individuals could nominate themselves to political positions in smaller municipalities; this led to greater gender imbalances. The State party aimed to achieve gender parity in Government, and better representation of women and wage equality in the private sector, and recruitment campaigns for the armed forces targeted at women.  The diplomatic corps was made up of around 150 agents, 76 per cent of whom were men. In recent years, the number of female diplomats had increased and this trend was likely to continue.

    The State had a service providing training for children on cyberbullying.  When it identified sexual harassment material online, it referred the material to legal services.  Raising awareness about online risks was a priority for the Government. 

    Questions by a Committee Expert 

    A Committee Expert commended the State party for eliminating the pay gap between men and women.  Luxembourg’s wage gap was the lowest in the world.  The Committee called for further efforts to achieve wage equality for women in part-time work and in the informal sector. Almost one-third of women worked part time; this affected the pension gap.  How was the State party working to address this gap?  The Committee was concerned that the act on persons with disabilities excluded persons with disabilities who did not meet requirements for support to access the labour market.  Had Luxembourg criminalised workplace sexual harassment and adopted measures to implement appropriate sanctions?  Would it ratify International Labour Organization Convention 190?

    Responses by the Delegation

    The delegation said Luxembourg considered sexual harassment to be a serious form of violence.  It would be addressed in the national action plan against gender-based violence.  Victims of gender-based violence and discrimination in the workplace could seek support from a specialised service within the labour inspectorate.  Measures were in place to support single parents, who were prioritised in the provision of affordable housing.  The gender pension gap was large; to address this, a major reform of the pension system was underway.

    Questions by Committee Experts 

    A Committee Expert said Luxembourg had an admirable universal healthcare system.  To access free services, individuals needed to prove their identity and that they had lived in Luxembourg for at least three months. How many applications were objected to and on what grounds?  The Expert welcomed the national programme for the promotion of sexual and reproductive health.  What progress had been made in strengthening this programme?  The Committee welcomed the national action plan on the rights of lesbian, gay, bisexual, transgender and intersex persons, but was concerned that involuntary surgeries continued to be imposed on intersex persons.  When would the State party abolish this practice?

    The high rate of tobacco use among women was a major issue in the State party, leading to various health complications. What public health measures had been taken to discourage smoking, especially for women?

    One Committee Expert commended the State party’s financial support for women and support for women investors. What measures were in place to educate self-employed women on the pension regime?  Were there digital tools that facilitated women’s integration in pension programmes?  More than one in seven workers in Luxembourg was at risk of poverty.  How was the State party addressing this?  Were there measures to help unemployed women to access benefits and training?  Did the State party have regulations on safeguarding women’s rights in investments?  How did the State party ensure adequate reparation for human rights violations by companies?  What steps had been taken to promote women-owned businesses?  What strategies were planned to boost women’s access to financial services, bonds and loans?  What percentage of businesses were owned by women?  How was the State party helping women and girls to strengthen their digital competencies, collecting disaggregated data on access to loans and credit, and providing financial support services that reached women who lacked digital skills?

    The State party was commended for promoting women’s participation in sports entrepreneurship.  What measures were in place to prevent gender stereotypes in sport?

    Responses by the Delegation

    The delegation said all individuals in Luxembourg had access to the universal health coverage system.  The Government worked to streamline gender in all healthcare policies.  It was raising awareness amongst healthcare practitioners regarding differences in treatment between men and women.

    The national action plan on lesbian, gay, bisexual, transgender and intersex persons would address the issue of involuntary sterilisations.  The State party would assess legal provisions that addressed this issue in other countries. A national action plan to prevent smoking that considered the specific needs of women was being drafted.

    Sport was an area in which there was inequality between men and women in terms of renumeration and presence in the media.  The Government was drafting a national strategy on equality in sport.  Violence against women in sport was being addressed by the National Centre for Victims of Violence.

    A gender finance taskforce had been set up to support women to access the finance sector and loans.  Schools were educating girls on the financial sector. The Ministry of the Family funded a project that supported women’s incorporation into business networks and entrepreneurship support programmes.

    Luxembourg had around 20 observatories collecting disaggregated data on various topics.  The Government was stressing the importance of collecting data disaggregated by sex.  A digital gateway had been setup that promoted women’s and girls’ digital skills. An annual day of digital inclusion was also held to promote the inclusion of women and girls in the digital sphere.

    Questions by Committee Experts 

    A Committee Expert thanked the State party for its legal advocacy on behalf of Afghan women.  Luxembourg was Europe’s first financial centre.  Several businesses in Luxembourg continued to make investments in the fossil fuel industry.  Would the State party adopt stricter environmental regulations for businesses?  The State party had thus far contributed eight million euros to the Loss and Damage Fund.  Investments needed to be made with a human rights approach, including investments in green bonds.  The State party needed to contribute more to the Loss and Damage Fund in a way that addressed the needs of women.

    Women in solitary confinement had meagre access to education and work, despite legislation enshrining the rights of such women to State services.  How would the State party address this?

    Responses by the Delegation

    The delegation said the financial sector was one of the biggest contributors to Luxembourg’s gross national income.  It was one of the first sectors to implement the United Nations Guiding Principles on Business and Human Rights.  The Government had called on the Union of Luxembourg Businesses, which included businesses from the financial sector, to implement the Guiding Principles.  The European Union had adopted a directive on business and human rights that Luxembourg was transposing into law. Employers in the financial sector were aware of regulations related to women’s rights and sanctions that were implemented when those regulations were not respected.

    The Government was committed to supporting climate action in developing countries; it had pledged 120 million euros toward this at a recent Conference of the Parties.  Funds dedicated to climate action included a gender perspective. In 2016, the Luxembourg Stock Exchange decided to open a “green exchange”, which applied stringent criteria for green investment.  This exchange today had over one trillion United States dollars’ worth of sustainable climate assets.  Many sustainable assets addressed the protection of women’s rights.  The Stock Exchange had signed a Memorandum of Understanding with United Nations Women in 2022 to advance projects and investments that promoted women’s empowerment.

    Questions by Committee Experts 

    A Committee Expert asked how many women had requested the grant provided to women divorcees.  Had the State party conducted studies into the effectiveness of shared custody agreements?  Same-sex couples experienced barriers to accessing adoption services.  How was the State party addressing this?  The practice of surrogacy was not sufficiently regulated.  How did the State party protect surrogate mothers and children?  How did the State party support such children to investigate their origins?

    The legal distinction between “legitimate” and “natural” children created discrimination.  Were there plans to remove this distinction?

    ANA PELÁEZ NARVÁEZ, Committee Expert and Rapporteur for Luxembourg, asked how many children of Luxembourg lived in institutions and foster families in the State and abroad.

    Responses by the Delegation

    The delegation said a draft bill on adoption was currently being assessed.  It addressed adoptions by cohabiting couples and investigations into the lineage of children who were abandoned by their parents.  There were around 1,000 children and adolescents of Luxembourg in institutions and foster families, including 76 children and adolescents who had been placed in institutions abroad.  The distinction between legitimate and natural children still existed in legislation but in reality, there was little difference between these.  The draft bill on the right to lineage removed the distinction. Assessments of this bill were still underway.

    Concluding Remarks 

    MARC BICHLER, Permanent Representative of Luxembourg to the United Nations Office at Geneva and head of the delegation, thanked the Committee for the interactive dialogue.  This had been a valuable exercise that helped the State party to make progress in implementing the Convention and upholding the rights of women and girls.  There were pushbacks against women and girls’ rights globally, but Luxembourg was resolute in defending these rights.  The State party would continue to work to implement the Convention.

    MARYSE FISCH, First Government Counsellor, Ministry of Gender Equality and Diversity of the Grand Duchy of Luxembourg, thanked the Committee for its advice, which helped the State party to improve.  Luxembourg highly valued the Convention, which was mentioned in the coalition agreement and the national action plan on equality.

    MANDY MINELLA, Deputy Head of the Committee Department, Chamber of Deputies of the Grand Duchy of Luxembourg, said the Chamber of Deputies was committed to equality and would conduct a gender audit and develop a strategy to promote gender equality, inclusive language, and gender mainstreaming.  The Chamber was discussing issues, including childcare and provisions for breastfeeding women.  There were plans to overhaul the Chamber’s regulations with a gender perspective. The Committee’s recommendations would be carefully reviewed in the Chamber.

    CORINNE DETTMEIJER-VERMEULEN, Committee Vice-Chair and acting Chair of the meeting, said that the dialogue with Luxembourg had provided further insight into the situation of women in the State party.  The Committee commended the State party for its efforts and called on it to implement the Committee’s recommendations for the benefit of all women and girls of Luxembourg.

     

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    CEDAW25.005E

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: Union Minister Dr. Jitendra Singh called on States to establish BioE3 cells as part of India’s Biotechnology revolution and realize Bio-Vision in Viksit Bharat by 2047

    Source: Government of India (2)

    Union Minister Dr. Jitendra Singh called on States to establish BioE3 cells as part of India’s Biotechnology revolution and realize Bio-Vision in Viksit Bharat by 2047

    Science and Technology Minister Dr. Singh releases booklet on Establishment of BIOE3 cells for Biomanufacturing Implementation

    Reiterates PM Modi’s Whole of Government approach, calls for a strong Centre-State partnership for successful implementation of the BioE3 Policy

    Posted On: 07 FEB 2025 7:19PM by PIB Delhi

    Union Minister Dr. Jitendra Singh called on states to establish BioE3 Cells as part of India’s biotechnology revolution, with the aim of realizing Bio-Vision for Viksit Bharat by 2047. During the Centre-State Partnership Conclave on the BioE3 Policy, held at Vigyan Bhavan in New Delhi, Dr. Singh emphasized the significance of strengthening Centre-State collaboration to advance India’s bioeconomy.

    He highlighted the need for state governments to leverage their unique strengths, resources, and economic priorities to propel India’s biomanufacturing sector forward. Notably, he pointed out the importance of marine resources, the Himalayan region’s resources, and other region-specific bio-resources that could help usher in a new biotech revolution.

     

    Union Minister of State (Independent Charge) for Science and Technology, Minister of State (I/C) for Earth Sciences, Minister of State in the Prime Minister’s Office, Department of Atomic Energy, Department of Space, and Personnel, Public Grievances and Pensions, Dr. Jitendra Singh credited Prime Minister Narendra Modi’s visionary leadership for approving the BioE3 Policy within the government’s first 100-day agenda. He mentioned other key initiatives, such as Mission Mausam, funding for Space Startups, and the National Research Foundation (NRF).

    To ensure the success of the BioE3 Policy, Dr. Jitendra Singh urged states to establish ‘BioE3 Cells’ in collaboration with the Centre through the Department of Biotechnology (DBT). These BioE3 Cells will serve as interconnected knowledge hubs, linking state and national stakeholders to facilitate the effective implementation of the BioE3 Policy. Established at the state level, these cells will act as central platforms for knowledge exchange, policy coordination, and technology adoption in the biomanufacturing sector.

    On this occasion, Dr. Singh released a booklet on the Establishment of BioE3 Cells for Biomanufacturing Implementation, which aims to catalyze Centre-State partnerships to drive biotech innovations. In releasing the booklet, he highlighted that the primary goal of the BioE3 Cells is to ensure biomanufacturing initiatives are closely aligned with each state’s specific priorities, resources, and strengths, while also staying connected to broader national objectives. He emphasized that by establishing a nationwide network of BioE3 Cells, the government aims to facilitate the integration of emerging technologies, innovative research, and sustainable biomanufacturing practices across regions, ensuring a cohesive and efficient approach to biotechnology development in India.

    Reiterating PM Modi’s “Whole of Government” approach, Dr. Singh called for a strong Centre-State partnership to ensure the successful implementation of the BioE3 Policy. He stressed the need to stop working in silos and instead collaborate on various fronts, with clear demarcation between industry, academia, and entrepreneurship. He also referred to IN-SPACe and BIRAC as successful; platform to usher collaborations with private sector.

    Furthermore, Dr. Singh pointed out notable advancements in India’s biotechnology sector, including the indigenous DNA vaccine developed by the Department of Biotechnology during the pandemic, the development of the antibiotic ‘Nafithromycin’, and successful gene therapy trials at CMC Vellore. He also emphasized that India remains open to private sector collaboration, aiming to replicate the successes seen in the space sector and nuclear energy.

    Highlighting the government’s commitment, Dr. Singh referred to the allocation of resources for Bio Foundries and Biomanufacturing in the latest budget, which marked a shift from typical populist priorities to a focus on science and technology under PM Modi’s leadership.

    Dr. Singh also provided examples of successful Centre-State collaboration. For instance, his Department of Administrative Reforms has paired states with similar issues to address challenges effectively. He noted the central government’s funding for cleaning lakes like Loktak Lake and Dal Lake. Additionally, he mentioned the establishment of Fecal Sludge Treatment Plants (FSTP) during the Kumbh Mela, showcasing how science and biotechnology can play a critical role in addressing daily challenges and ensuring sustainable development.

    Dr. Rajesh Gokhale. Secretary Department of Biotechnology addressed the conclave on opportunities in Biotech Sector for Viksit Bharat. Dr. Alka Sharma, Senior Advisor DBT summarized the deliberations which took place throughout the day with states. Kiran Mazumdar Shaw, founder, Biocon joined the conclave through virtual mode. Mr. R. Subramani, Founder, Fermbox Bio, Bangalore also marked his presence along with senior representatives from almost all states. Dr. Jitendra Kumar, MD, BIRAC shared BIRAC’s effort towards building strong industry linkages, paving the way for the establishment of BioE3 cells.

    The conclave provided a valuable platform for senior representatives from various states to deliberate on biotechnology initiatives, ensuring these efforts are aligned with each state’s unique strengths and resources while staying true to the overarching goals of the BioE3 Policy.

    *****

    NKR/PSM

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Advancing Mental Healthcare in India

    Source: Government of India

    Posted On: 07 FEB 2025 5:26PM by PIB Delhi

    “India’s vision of good health implies not just being free of disease but to ensure wellness and welfare for everyone. The goal is to ensure physical, mental and social wellbeing.”

                                                                           Shri Narendra Modi, Prime Minister of India

    What is Mental Health

    Mental health refers to an individual’s emotional, psychological, and social well-being. It influences how people think, feel, and behave in daily life. It also affects decision-making, stress management, and relationships. According to the World Health Organization (WHO), mental health is a state of mental well-being that enables people to cope with the stresses of life, realize their abilities, learn well and work well, and contribute to their community.

    Impact of Poor Mental Health

    • Impact on Productivity: Poor mental health leads to lower workplace performance, increased absenteeism, and reduced efficiency.
    • Social and Emotional Well-being: Mental well-being affects interpersonal relationships, self-confidence, and social interactions.
    • Economic Impact: According to WHO, mental disorders contribute significantly to the global burden of disease, and untreated conditions can lead to high economic costs.

    Mental Health Scenario in India

    • WHO Data Insight
      • India contributes to 18% of the global population. WHO estimates that the burden of mental health problems in India is 2443 disability-adjusted life years (DALYs) per 10000 population; the age-adjusted suicide rate per 100000 population is 21.1. The economic loss due to mental health conditions, between 2012-2030, is estimated at USD 1.03 trillion.
    • Prevalence:
      • The National Mental Health Survey (NMHS) 2015-16 by NIMHANS found that 10.6% of adults in India suffer from mental disorders.
      • The lifetime prevalence of mental disorders in India is 13.7%.
      • National studies reveal that 15% of India’s adult population experiences mental health issues requiring intervention.
      • Urban areas have a higher prevalence (13.5%) compared to rural (6.9%).
    • Treatment Gap
      • 70% to 92% of people with mental disorders do not receive proper treatment due to lack of awareness, stigma, and shortage of professionals.
      • According to the Indian Journal of Psychiatry India has 0.75 psychiatrists per 100,000 people, whereas WHO recommends at least 3 per 100,000.

    Insights from Economic Survey 2024-25

    Mental wellbeing is the ability to navigate life’s challenges and function productively. Recognising its importance, Economic Survey 2024-25 highlighted that Mental well-being encompasses all our mental-emotional, social, cognitive, and physical capabilities. This can also be construed as the mind’s composite health. It emphasised a whole of community approach to tackling mental health problems and stated that it is about time to find viable, impactful preventive strategies and interventions. India’s demographic dividend is riding on skills, education, physical health and, above all, mental health of its youth.

    The Economic Survey 2024-25 suggested:

    1. Enhance Mental Health Education in Schools: Early intervention strategies to address anxiety, stress, and behavioural issues in students.
    2. Improve Workplace Mental Health Policies: Address job stress, long working hours, and burnout.
    3. Expand Digital Mental Health Services: Strengthen Tele MANAS and integrate AI-based mental health solutions.

    Mental Health Infrastructure in India

    • As part of the National Mental Health Programme, in 2024, 25 Centres of Excellence were sanctioned set up to train more postgraduate students in mental health and provide advanced treatment.
    • 47 PG Departments in mental health have been established or upgraded in 19 government medical colleges. Mental health services are also being introduced in 22 newly established AIIMS.
    • 47 Government-Run Mental Hospitals including 3 Central Mental Health Institutions, viz. National Institute of Mental Health and Neuro Sciences, Bengaluru, Lokopriya Gopinath Bordoloi Regional Institute of Mental Health, Tezpur, Assam and Central Institute of Psychiatry, Ranchi.
    • Integration of Mental Health Services in Ayushman Bharat – Health & Wellness Centres (HWCs)

    Under Ayushman Bharat, the government has upgraded more than 1.73 lakh Sub Health Centres (SHCs) and Primary Health Centres (PHCs) to Ayushman Arogya Mandirs. Mental health services have been added in the package of services under Comprehensive Primary Health Care provided at these Ayushman Arogya Mandirs. These HWCs provide:

    • Basic counselling and psychiatric medication at PHC levels.
    • Training for general physicians to handle mild-to-moderate mental health conditions.
    • Linkages to district hospitals for advanced psychiatric care.

    This initiative ensures that mental healthcare is available in both urban and rural areas, reducing dependence on specialized hospitals and making psychiatric care more community-centric.

    Policies and Schemes Undertaken by the Government of India

    National Mental Health Programme (NMHP) – 1982

    Recognizing the growing burden of mental disorders and the shortage of mental health services, India launched the National Mental Health Programme (NMHP) in 1982. The primary goal was to ensure that mental healthcare becomes an integral part of the general healthcare system, rather than being confined to specialized hospitals.

    Key components include:

    District Mental Health Programme (DMHP) was introduced under NMHP to expand community mental health services.

    • Covers 767 districts
    • Provides counselling, outpatient services, suicide prevention programs, and awareness initiatives.
    • 10-bedded inpatient mental health facilities at the district level.

    NIMHANS Act, 2012

    The NIMHANS Act, 2012, was a significant step towards enhancing mental health education and research in India. Under this act, the National Institute of Mental Health and Neurosciences (NIMHANS), Bengaluru, was declared an Institute of National Importance. This recognition allowed NIMHANS to expand its academic and research capabilities, making it the premier institution for psychiatry, neuropsychology, and mental health sciences in India.

    The Rights of Persons with Disabilities (RPwD) Act, 2016

    The Rights of Persons with Disabilities (RPwD) Act which replaced the Persons with Disabilities (PWD) Act, 1995, expanded the definition of disability to include mental illness and introduced stronger legal protections for individuals with psychosocial disabilities. The Act aligns with India’s commitment to the UN Convention on the Rights of Persons with Disabilities (UNCRPD) and aims to ensure equality, dignity, and non-discrimination for persons with disabilities, including those with mental health conditions.

    National Mental Healthcare Act, 2017

    The Mental Healthcare Act, 2017, was enacted to ensure the right to mental healthcare services, protect the dignity and rights of individuals with mental illness, and align India’s mental health laws with international standards, particularly the United Nations Convention on the Rights of Persons with Disabilities (UNCRPD). The Act replaced the Mental Health Act of 1987 and introduced several progressive changes to mental health care and services in India like the Right to affordable and quality mental healthcare services and the decriminalization of suicide in India.

    National Health Policy, 2017

    The National Health Policy (NHP), 2017 was a landmark that acknowledged mental health as a national health priority. This policy aimed to address mental health issues through a multi-pronged approach, integrating mental healthcare into primary healthcare, strengthening human resources, and improving treatment accessibility.

    By placing mental health at the center of India’s healthcare framework, NHP 2017 aimed to bridge the treatment gap by making psychological services available at Primary Health Centres (PHCs) and Health and Wellness Centres (HWCs) under Ayushman Bharat.

    iGOT-Diksha Collaboration for Mental Health Training

    The government has also collaborated with the iGOT-Diksha platform, a digital learning initiative in 2020, to train healthcare professionals, frontline workers, and community health volunteers in mental healthcare. This program focuses on:

    • Building capacity for mental health care at the grassroots level.
    • Equipping doctors and nurses with skills to diagnose and treat mental disorders.
    • Promoting mental health awareness in rural areas.

    Through iGOT-Diksha, India has expanded its mental health workforce, ensuring better early intervention strategies and community support mechanisms.

    National Tele Mental Health Programme (Tele MANAS), 2022

    Launched on October 10, 2022, the National Tele Mental Health Programme (Tele MANAS) was a game-changer in India’s digital mental health infrastructure. Tele MANAS provides free, 24/7 mental health support to individuals through a national toll-free helpline (14416 / 1800-89-14416). Available in 20 Indian languages.

    As of February 7, 2025, the Tele MANAS helpline has handled over 1.81 million (18,27,951) calls since its launch in 2022, providing essential mental health support across India. There are 53 Tele MANAS Cells across various states, ensuring local access to mental health services. The program is supported by 23 Mentoring Institutes nationwide, along with 5 Regional Coordinating Centers, ensuring efficient service delivery and expert guidance in mental healthcare.

    Tele MANAS services include:

    • Immediate tele-counselling by trained professionals.
    • Referral support to psychiatrists for severe cases.
    • Mental health awareness campaigns via digital platforms.
    • Mobile-based mental health interventions, ensuring accessibility in rural and remote areas.

    Tele MANAS Mobile App & Video Consultation

    • The Tele MANAS App was launched in October 2024.
    • Offers self-care strategies, stress management tools, and direct access to mental health professionals.
    • Video consultation services introduced in Karnataka, Tamil Nadu, and J&K.

    WHO Recognition

    The World Health Organization (WHO) praised Tele MANAS as an effective and scalable mental health solution, making mental healthcare more inclusive and affordable.

    KIRAN Helpline Merged into Tele MANAS

    The KIRAN Helpline (1800-599-0019), initially launched in 2020, was merged into Tele MANAS in 2022 to enhance the efficiency of mental health support services. This transition streamlined mental health helpline operations, making it more accessible and better integrated with India’s healthcare system.

    During COVID-19, the government took crucial steps to support mental health. A 24/7 helpline provided nationwide psychosocial assistance, while health workers received online training through the iGOT-Diksha platform. Public awareness campaigns spread stress management strategies via media, and official guidelines and advisories were issued to promote mental well-being. These interventions played a vital role in addressing the psychological challenges of the pandemic.

    National Suicide Prevention Strategy, 2022

    The National Suicide Prevention Strategy (NSPS) was launched by the Ministry of Health and Family Welfare (MoHFW) in 2022, with the goal of reducing suicide mortality by 10% by 2030. Recognizing suicide as a public health concern, the strategy focuses on early intervention, crisis management, and mental health promotion.

    Key components of NSPS include:

    • Mental health screenings for students in schools and colleges.
    • Establishing crisis helplines and psychological support centers.
    • Community awareness programs to break the stigma around mental illness and suicide.
    • Stronger implementation of workplace mental health programs.

    By focusing on high-risk populations, such as students, farmers, and young adults, the strategy ensures targeted intervention to prevent self-harm and improve overall well-being.

    Conclusion

    India has made notable progress in mental healthcare through policy reforms, digital initiatives like Tele MANAS and expanding access to services under programs such as NMHP, Ayushman Bharat HWCs, and the National Suicide Prevention Strategy. Moving forward, India must strengthen awareness campaigns, expand workforce training and invest in digital mental health solutions. A mentally healthier India is vital for individual well-being, economic growth, and national development, requiring a whole-of-society approach to make mental healthcare accessible, inclusive, and stigma-free.

    References

    Kindly find the pdf file 

    ****

    Santosh Kumar / Sarla Meena / Vatsla Srivastava

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    MIL OSI Asia Pacific News

  • MIL-OSI USA: Senator Marshall in USTR Nominee Hearing: How Can We Build on President Trump’s Trade Success? 

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall

    Washington, D.C. – U.S. Senator Roger Marshall, M.D. participated in the nomination hearing for President Trump’s U.S. Trade Representative (USTR) Nominee, Jamieson Greer, in the Senate Finance Committee this week. 
    Senator Marshall questioned Mr. Greer on President Trump’s history of tariffs and trade, and how he will properly utilize United States trade relations to prioritize American interests. 
    Jamieson Greer has a storied career dedicated to the military, trade, and international relations. He also served in Kansas as an officer in the United States Air Force Judge Advocate General’s Corps and was deployed to Iraq as Chief of Military Justice. He worked in private firms focusing on trade law and international trade. As Chief of Staff to the previous USTR, Robert Lighthizer, he has the experience and the record of playing a pivotal role in President Trump’s successful trade negotiations across the world. 
    [embedded content]
    You may click HERE or on the image above to watch Senator Marshall’s full line of questioning. 
    Highlights from Mr. Greer’s nomination hearing include: 
    On Joe Biden’s vs. President Trump’s history of fair, reciprocal trade agreements: 
    U.S. Senator Roger Marshall, M.D.: “…Under President Trump, he gave us [the United States-Mexico-Canada] Agreement. He gave us South Korea to improve Japanese trade agreement, so important to American beef and China Phase One. Mr. Greer, what trade agreements were accomplished under Joe Biden?”
    Mr. Jamieson Greer, Nominee, U.S. Trade Representative: “Senator, I’m not aware of any.”
    Senator Marshall: “Okay, I want to compare and contrast a little bit here more. Let’s talk about Mexico. I think it’s one of the simpler ones to understand…Under Joe Biden, Mexico undermined American farms. He harmed commerce. He bullied U.S. companies. He shut down the GMO corn exports, forcing a huge dispute. Mexico hampered U.S. energy protection under Joe Biden, and Mexico seized a U.S. mining company operation near Cozumel. What can you do? What can we do to reverse this behavior?”
    Mr. Greer: “…any trade agreement we have is only as valuable as the enforcement behind it. And so my view is, all these issues you talked about with Mexico, whether it be energy or corn, et cetera, we need to enforce that. I know that, you know, there’s a case that was done on the corn issue. I’m going to enforce that. I know that there were consultations open on energy. We’re going to we’re going to bring that up with the Mexicans as well. Listen, good fences make good neighbors. If we want to have good, ongoing trade relations with folks, we have to hold them accountable.”
    On leveling the global trade playing field for American biofuels: 
    Senator Marshall: “Let’s talk about biofuels for a second. I’ve never seen such an uneven playing field for American biofuels. The U.S. is subject to 18% tariffs going into Brazil with biofuels, yet Brazil enjoys virtually free access to the U.S., and in many cases, thanks to some scientific voodoo, they’re actually giving Brazil a preference over American biofuels as well.”
    “The EU continues to be protectionist against us, ethanol. Chinese used cooking oil exports. You’re familiar with how they’re abusing that. You would think that if we’re going to give tax credits, we would make sure they’re not going to benefit foreign entities, especially those who wish to harm us. What can you do to help the biofuels industry and try to level that playing field?”
    Mr. Greer: “Well, Senator, this is the specific kind of unfairness that drives me crazy. And it’s not just me. The President himself, he sees these kinds of unfairnesses and the unlevel playing field. And it’s so it’s so obvious, it’s so blatant. It’s gone for so long. You know, again, in the first instance, you can certainly go to somebody like the Brazilians and say, you need to fix this, but it has to be followed up with or else, right? I mean, that’s a little crude, but we need to have leverage, and if we need to gain leverage by taking investigatory actions or other actions, we’ll do that. It would be much better to do this on a negotiating basis, but we’ll do whatever we need to do to try to fix the situation.”
    On ensuring Chinese compliance with President Trump’s Phase One trade deal: 
    Senator Marshall: “Let’s talk about China for a second…How can we build on President Trump’s success under Phase One with China?”
    Mr. Greer: “We need to start by reviewing it and actually assessing whether or not the Chinese have complied with it, or to what degree. In fact, the President has already directed the office of the USTR to do this…We want to be able to very clearly see where they did or did not comply. And then from there you move to dispute settlement, and you move to enforcement if you need to. And again, hopefully, this is an area where countries will understand the unfairness and change because they know that President Trump is serious about this, that I’m serious about this. If they don’t, then you move for that last part of enforcement.”
    On utilizing tariffs as a tool to advance American interests:
    Senator Marshall: “…You know, under President Trump, he used tariffs, but we saw minimal inflation – so at the end of the day, those tariffs were not passed on to Americans in the big picture… the big picture is for one reason or another, those tariffs were used properly, and we were able to not pass that on to American consumers. Mr. Greer, is there a way to do that going forward as well, to effectively use, these tariffs as a weapon, as a tool?”Mr. Greer: “I agree 100% with that. What we learned from the first term is that President Trump and his economic team are very good at managing the economy. And we saw real median household income go up by $7,000 over three years before the pandemic hit – and this was at a time when we were imposing tariffs in a way we hadn’t done in many years. And when we look at inflation under the Biden administration that happened in 2022, it wasn’t about tariffs. It was about health care and housing and food, things we don’t import from China, right? So we know that we can manage this. We know we have a strong economic team, and if I’m confirmed, I expect to be able to take strong trade action while helping ensure that the economy is growing for average Americans.”

    MIL OSI USA News

  • MIL-OSI Europe: At a Glance – EU action against poverty – 07-02-2025

    Source: European Parliament

    Poverty has many dimensions. Following recent crises, not least the COVID-19 pandemic and the cost-of-living crisis, some of poverty’s known dimensions have evolved while new forms have emerged. Addressing poverty remains mainly the responsibility of EU countries’ governments acting in complex national social settings. The EU meanwhile seeks to coordinate Member States’ efforts and offers support in the form of funding and data. The new European Commission is stepping up efforts to meet the EU’s poverty reduction targets.

    MIL OSI Europe News

  • MIL-OSI USA: ICYMI: Shaheen Condemns Trump Actions as Deliberate Effort to Undermine Critical Functions of Government Over Lowering Costs for Granite Staters

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) condemned Trump for undermining critical government functions instead of working to lower costs for Granite Staters like he promised during his campaign. Shaheen pointed to the President’s misguided tariff plan, chaotic effort to halt federal funding for grants and loans, the dismantling of U.S. foreign assistance and his enabling of billionaire Elon Musk to access Americans’ sensitive information at the U.S. Department of Treasury. You can read more here.

    The full article from the Union Leader is available here and below.

    Shaheen takes aim at Trump’s actions on spending, tariffs

    In some of her strongest language to date, U.S. Sen. Jeanne Shaheen said President Donald Trump’s actions on spending, tariffs and shutting down foreign assistance programs appear to be a “deliberate effort to undermine the critical functions” of the federal government.

    Shaheen, a three-term senator whose term is up in 2026, said her office is receiving complaint calls at a level only met during the height of the COVID-19 pandemic.

    Many hold the view that Trump’s actions bear little resemblance to his focus as a presidential candidate, Shaheen said.

    “It is creating frustration and concern across the board. This is not what they signed up for,” Shaheen said during an interview. “When Donald Trump was campaigning, he was talking about addressing inflation, lowering costs for people on food, rent and prescriptions. None of that is in his agenda since he got inaugurated.”

    For his part, Trump said he told voters that Elon Musk, the world’s wealthiest man, would be a trusted adviser on how to reduce federal spending by up to $2 trillion.

    Musk leads the new Department of Government Efficiency, whose employees got access to payroll information of the Department of Treasury and the U.S. Small Business Administration.

    “He should not have access to this. They are going into classified spaces without appropriate clearances,” said Shaheen, the ranking Democrat on the Senate Appropriations Committee, which is dealing with the Department of Agriculture, rural development and Food and Drug Administration.

    Shaheen said Musk’s moves to close down USAID will collapse vital assistance to vulnerable people around the world and only invite U.S. adversaries to step in and try to control affairs in struggling countries.

    “In fact, there’s evidence that is already beginning to happen,” Shaheen said.

    Shaheen noted Musk seeks to reduce the size of a federal government that at one pivotal point rescued him with financial relief.

    “The irony is this guy would have been out of business but for the U.S. government bailing him out in Space X,” Shaheen said. “The fact he is trying to deny that kind of access and help to individuals and business that need it is just unacceptable and shameful.”

    Earlier Wednesday, Shaheen hosted a conference call with leaders of chambers of commerce and other regional officials who raised concerns about the proposed tariffs with Canada that are on a 30-day pause but have not been rescinded.

    “Their number one issue is the uncertainty and the chaos that is happening under this president’s very hand,” Shaheen said.

    U.S. Rep. Maggie Goodlander, D-N.H., signed on to a letter to Trump Wednesday, along with 60 House Democrats, calling for him to cancel any Canadian tariff plans.

    “These actions, this rhetoric has consequences that people are already seeing in their everyday lives,” Shaheen added.

    MIL OSI USA News

  • MIL-OSI USA: Welch Statement on the Retirement of Dr. Mark Levine, Vermont Commissioner of Health 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    BURLINGTON, VT — U.S. Senator Peter Welch (D-Vt.) released the following statement on the retirement of Dr. Mark A. Levine, Commissioner of Health for the State of Vermont: 
    “Dr. Levine dedicated his career to medicine and creating stronger, healthier communities across Vermont. His leadership as our state’s Commissioner of Health during the brutal COVID-19 pandemic has been praised and celebrated, and I echo that. He helped Vermont through those incredibly challenging times, and saved many lives. I am very thankful for Dr. Levine’s service to Vermont, and I wish him some well-deserved time to relax in his retirement.” 
    In an announcement earlier today, Governor Phil Scott announced Dr. Levine plans to retire at the end of March 2025. 

    MIL OSI USA News

  • MIL-OSI USA: Kugler, Entrepreneurship and Aggregate Productivity

    Source: US State of New York Federal Reserve

    Thank you, Jon, and thank you for the opportunity to speak to you today.1 It is such a pleasure to be back in Miami, a city I have seen grow and become ever more dynamic over the decades, as I have come many times to visit my large extended family here ever since the 1980s.
    As I discussed in my final speech of 2024, two positive supply shocks have significantly benefited the U.S. economy over the past two years and have also affected the conduct of monetary policy.2
    The first of these has been the surge in population over the past few years that has helped bring labor supply into balance with labor demand and, thus, also helped move inflation toward the Federal Open Market Committee’s (FOMC) 2 percent goal. The other positive supply shock, which I outlined in my remarks in December, has been a step-up in aggregate productivity growth since 2020, which is an increase in the amount of economic output, across the economy, per hour worked or some other unit of labor. Although productivity growth, measured quarterly, can be quite volatile, over the past five years this acceleration is quite evident. While productivity grew by about 1.5 percent a year from 2005 to 2019, starting in 2020 it has grown about 2 percent a year. This difference may not look dramatic, but because of compounding year-over-year, the consequences of an additional 1/2 percentage point in growth over the past five years are significant for workers and the U.S. economy. When workers are more productive, it effectively means that businesses can produce more without needing to add workers, and that they can pay workers more without needing to raise prices. When they are more productive, it can also serve as an incentive for businesses to expand. Across the economy, higher productivity growth means that real wages and living standards for workers can rise faster without putting upward pressure on inflation.
    And that is exactly what has been happening recently, a period when inflation has been falling while the economy is expanding. While fast growth in wages was one of the factors driving inflation in 2021 and 2022, most likely some of that increase was due to productivity growth and, hence, was not inflationary. If productivity continues to grow at an accelerated pace, it would support the FOMC’s efforts to keep unemployment low and return inflation to a sustained level of 2 percent. For that reason, I would like to spend the balance of my remarks exploring some of the possible reasons why productivity has accelerated, and the prospects that this fortunate development will continue.
    Numerous factors affect aggregate productivity, and several may have driven the increase in productivity growth in the U.S. since the pandemic, in contrast to the subdued productivity growth experienced by other advanced economies around the world.
    One such factor may have been a result of the enormous movement of workers caused by the pandemic. It began with the dramatic loss of 22 million jobs in the spring of 2020, the reemployment of many of those workers and the continued mobility as people quit jobs, switched occupations and careers, and relocated in response to the enormous changes in work and home life brought about by the pandemic. In finding new jobs, in what became a very tight labor market, workers had the opportunity to find better matches for their skills and, to some extent, work that they were motivated to carry out and which made them more productive. One indication that this was probably a significant factor in the U.S. is that other advanced economies where there was less worker movement have experienced lower rates of productivity growth.3 Economic data and research suggest that periods of strong job re-allocation are accompanied or followed by higher productivity growth.4
    The tightness of the labor market since 2021 has also likely led firms to invest to a greater extent in labor-saving as well as labor-enhancing technologies, which, of course, is traditionally one of the major sources of productivity gains. For example, many retail businesses seemed to have installed more self-checkout machines after the onset of the pandemic, allowing employers to substitute capital for workers when workers could not come to work in person and when there were severe shortages. More generally, digital technology allowed employees to continue working from home during the period of the pandemic and beyond, saving commuting time and making employees potentially more productive.5
    To the extent that these factors are boosting productivity growth, they are by their nature one-off developments that eventually will fade. A notable exception may turn out to be productivity improvements from investments in artificial intelligence (AI). AI investment by businesses has stepped up in the past two years, and it appears to be accelerating.6 The advent of the internet and related innovations boosted productivity growth for about 10 years starting in the mid-1990s, and the benefits of AI could potentially be that revolutionary and persistent.
    In addition to being temporary, the factors that I have outlined that could be boosting productivity, job re-allocation, and technological investments are themselves hard to measure across the economy. And so are their effects on productivity as well. But there is another important factor that is likely to be driving productivity higher whose effects may well persist, and that is the surge in new business formation experienced since 2019. As I will explain, new businesses are associated with higher rates of overall productivity growth, and that may be particularly true for some of the sectors in which these businesses were created.
    Applications for new business tax identification numbers jumped shortly after the pandemic began and have remained elevated since then.7 In 2024, the pace of applications that are likely to result in employer business formation was about 30 percent above its 2019 pace. This surge is largely unique to the U.S. In the euro zone, for example, business registrations have been relatively flat. This may help explain why labor productivity growth in Europe has been well below that of the U.S. in recent years.8
    The surge in applications in early 2020 was an early signal of an acceleration in the creation of job-creating new firms.9 The latest data available indicate that new firms created 1.9 million jobs in 2023, 14 percent higher than the total for 2019.10
    A couple of aspects of this surge in business entry in the U.S. are noteworthy. First, the surge was particularly noticeable in high-tech industries that, historically, are important for overall innovation and productivity growth.11 Second, while the pace of business applications has cooled somewhat over the past year, it still remains elevated and well above pre-pandemic norms. It is, in fact, proving somewhat more persistent than some expected.
    For these reasons, the surge in new business formation is highly relevant to our discussion about productivity. There is a large body of research that finds that new firms are key contributors to innovation and growth in aggregate productivity.12 This might seem surprising and counterintuitive, since it is well known that many new firms fail in their first year or two. But in the commotion of competition that these many new businesses face, there are always businesses that persist and keep their lights on, and those often do so because they are innovative and more productive. New businesses are the essence of the competition that drives market-based economies, and it is not surprising that they would be an important source of new products or processes for doing business—and a source of growth.13
    Of course, not every new firm has to innovate and grow to make important economic contributions. Every entrepreneur contributes even if they just create a job for themselves and their family members. But those new firms that do innovate and grow are critical for improvements in overall productivity over time.
    As I noted before, since the surge in entrepreneurship after the onset of the pandemic featured an increase in high-tech businesses as well, the productivity implications could be significant. Indeed, the last period of strong productivity growth in the U.S., which ran from the late 1990s into the early 2000s, was preceded by a surge of new business creation in high-tech industries, including those industries that more recently have been associated with AI-related developments.14 So this is one source of my optimism about continued robust productivity growth in the U.S.
    But it is not only the innovations produced directly by new businesses that are important, since by any measure these new firms are a small share of total businesses. New businesses also help drive innovation by existing firms. As they scramble for funding, customers, and human capital, new businesses will increase competition with existing ones, forcing them to innovate as well so they can succeed. This is surely also driving the recent acceleration in productivity growth.
    Many predicted that the surge in new business creation would disappear as effects of the pandemic have faded, but this has not really happened. It is possible that the surge in entry will recede and that its productivity effects will likewise be temporary. On the other hand, the productivity gains from a surge in entry could last for some time, since these highly productive young firms have been found to grow rapidly for several years, contributing to aggregate productivity growth along the way. Time will tell, but for now, it seems likely that this is a factor supporting productivity growth at a higher-than-historical rate.
    I will confess to you all that it is not a coincidence that I have come to Miami to highlight the role of entrepreneurship in innovation and productivity growth. Miami and the Miami metropolitan area is an extraordinarily entrepreneurial area, a place with high rates of new business creation, and it is likely an important source of the recent productivity surge.
    Out of more than 900 U.S. cities for which we have data, Miami’s post-pandemic new firm entry rate ranked 8th in the nation.15 And Miami is not alone in Florida; 5 of the top 20 cities for pandemic-era business formation are here in your state.16 Miami specifically, and Florida generally, has been a key part of the U.S. entrepreneurship story for some time. During the decade before the pandemic, Miami ranked 5th out of more than 900 U.S. cities for firm entry rates, and Florida featured 8 of the top 20 U.S. cities.17
    Miami is special in this regard. I wonder what is in the water here to produce such a dynamic, entrepreneurial culture. Perhaps it is the extent of sunshine, which has long been associated with optimism. Perhaps it is the friendly economic climate—in my own academic research, I have found that policies that facilitate business entry and support worker or job re-allocation are indeed helpful for dynamism and productivity.18 But an interesting question for me as the first Hispanic at the Board of Governors since its creation is whether the large Hispanic population in Florida is also a factor behind the impressive pace of business dynamism that I have just described.
    More than 25 percent of Florida’s population is Hispanic, compared with around 20 percent for the United States as a whole.19 Nationwide, recent data indicate that Latinos account for a dominant—and rapidly growing—share of new entrepreneurship in the U.S., with a particular increase since the pandemic.20 Of course, many of these Latino entrepreneurs are also immigrants, another group with a well-known proclivity for entrepreneurship.21 There are immigrants in Miami from the Caribbean and all over the world who contribute to the entrepreneurial culture of this city, and it is surely this culture, as much as the efforts of any nationality or group, that is the real engine of the dynamism here. I applaud you all for fostering that culture here in Florida, which is such an important contributor to the economic growth of our nation. More entrepreneurs means more productivity, which is crucial to U.S. prosperity.
    Let me conclude with an outline of my views on the outlook for the U.S. economy and the FOMC’s efforts to return inflation to our 2 percent goal while maintaining a strong labor market.
    The U.S. economy remains on a firm footing.
    Real gross domestic product (GDP) continues to grow at a solid pace. The Bureau for Economic Analysis estimates that real GDP grew 2.3 percent in the fourth quarter of 2024, and private domestic final purchases, which is the best indicator for GDP one quarter ahead, grew a solid 3.2 percent. Therefore, I anticipate solid GDP growth also in the first quarter of this year. In addition, earlier today the Labor Department reported that U.S. employers created 143,000 jobs in January and the unemployment rate edged down to 4 percent, consistent with a healthy labor market that is neither weakening nor showing signs of overheating.
    Inflation has fallen significantly since its peak in the middle of 2022, and in September the FOMC judged that it was time to begin reducing our policy interest rate from levels intended to strongly restrict aggregate demand and put downward pressure on inflation. We reduced our policy rate 100 basis points through December, but the recent progress on inflation has been slow and uneven, and inflation remains elevated. There is also considerable uncertainty about the economic effects of proposals of new policies. Going forward, in considering the appropriate federal funds rate, we will watch these developments closely and continue to carefully assess incoming data, the evolving outlook, and the balance of risks.
    Thank you again for the opportunity to speak to you today.

    1. The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee. Return to text
    2. See Adriana D. Kugler (2024), “A Year in Review: A Tale of Two Supply Shocks,” speech delivered at the Detroit Economic Club, Detroit, Michigan, December 3. Return to text
    3. See Joaquin García-Cabo, Anna Lipińska, and Gaston Navarro (2023), “Sectoral Shocks, Reallocation, and Labor Market Policies,” European Economic Review, vol. 156 (July), 104494. Return to text
    4. See, for example, Lucia Foster, John Haltiwanger, and C.J. Krizan (2001), “Aggregate Productivity Growth: Lessons from Microeconomic Evidence,” in Charles R. Hulten, Edwin R. Dean, and Michael J. Harper, eds., New Developments in Productivity Analysis (Chicago: University of Chicago Press), pp. 303–63; and John Haltiwanger, Henry Hyatt, Erika McEntarfer, and Matthew Staiger (2025), “Cyclical Worker Flows: Cleansing vs. Sullying,” Review of Economic Dynamics, vol. 55 (January), 101252. Return to text
    5. See Myrto Oikonomou, Nicola Pierri, and Yannick Timmer (2023), “IT Shields: Technology Adoption and Economic Resilience during the COVID-19 Pandemic,” Labour Economics, vol. 81 (April), 102330. Return to text
    6. Estimates of current AI usage by firms vary widely, but uptake appears to be significant and rising. See Leland Crane, Michael Green, and Paul Soto (2025), “Measuring AI Uptake in the Workplace,” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, February 5). Return to text
    7. These data, which track applications to the Internal Revenue Service for new Employer Identification Numbers, are available from the Census Bureau’s Business Formation Statistics. I focus specifically on “high-propensity applications,” which are those applications deemed by the Census Bureau to be particularly likely to result in the creation of new firms with formal employees. Return to text
    8. See Francois de Soyres, Joaquin Garcia-Cabo Herrero, Nils Goernemann, Sharon Jeon, Grace Lofstrom, and Dylan Moore (2024), “Why Is the U.S. GDP Recovering Faster Than Other Advanced Economies?” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, May 17). Return to text
    9. For extensive documentation and analysis of the pandemic business entry patterns, see Ryan A. Decker and John Haltiwanger (2024), “Surging Business Formation in the Pandemic: Causes and Consequences?” Brookings Papers on Economic Activity, Fall, pp. 249–302; and Ryan Decker and John Haltiwanger (2024), “Surging Business Formation in the Pandemic: A Brief Update,” working paper. Return to text
    10. Data on employment among firms with age zero from the Bureau of Labor Statistics Business Employment Dynamics. These are annual data with a March reference period. Return to text
    11. For documentation of the pandemic high-tech entry surge, see Ryan Decker and John Haltiwanger (2024), “High Tech Business Entry in the Pandemic Era,” FEDS Notes (Washington: Board of Governors of the Federal Reserve System, April 19). For the role of high-tech industries in aggregate productivity growth, see John G. Fernald (2015), “Productivity and Potential Output before, during, and after the Great Recession,” NBER Macroeconomics Annual, vol. 29, pp. 1–51. Return to text
    12. The relevant literature is vast. For example, see Marcela Eslava, John Haltiwanger, Adriana Kugler, and Maurice Kugler (2004), “The Effects of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia,” Journal of Development Economics, vol. 75 (December), pp. 333–71; Titan Alon, David Berger, Robert Dent, and Benjamin Pugsley (2018), “Older and Slower: The Startup Deficit’s Lasting Effects on Productivity Growth,” Journal of Monetary Economics, vol. 93 (January), pp. 68–85; and Ryan Decker, John Haltiwanger, Ron Jarmin, and Javier Miranda (2014), “The Role of Entrepreneurship in US Job Creation and Economic Dynamism,” Journal of Economic Perspectives, vol. 28 (Summer), pp. 3–24. Return to text
    13. See Daron Acemoglu, Ufuk Akcigit, Harun Alp, Nicholas Bloom, and William Kerr (2018), “Innovation, Reallocation, and Growth,” American Economic Review, vol. 108 (November), pp. 3450–91; and Vincent Sterk, Petr Sedlacek, and Benjamin Pugsley (2021), “The Nature of Firm Growth,” American Economic Review, vol. 111 (February), pp. 547–79. Return to text
    14. See Lucia Foster, Cheryl Grim, John C. Haltiwanger, and Zoltan Wolf (2021), “Innovation, Productivity Dispersion, and Productivity Growth,” in Carol Corrado, Jonathan Haskel, Javier Miranda, and Daniel Sichel, eds., Measuring and Accounting for Innovation in the Twenty-First Century (Chicago: University of Chicago Press). Return to text
    15. Entry rates are measured as new firms as a share of all firms for 2021–22 (average) from the Census Bureau Business Dynamics Statistics; the Census Bureau data report entry rates for core-based statistical areas. Return to text
    16. The 5 Florida cities in the top 20 are Orlando-Kissimmee-Sanford, Miami-Fort Lauderdale-West Palm Beach, Cape Coral-Fort Myers, Tampa-St. Petersburg-Clearwater, and Crestview-Fort Walton Beach-Destin. Return to text
    17. I measure the pre-pandemic decade using average firm entry rates for 2010–19. The 8 Florida cities in the top 20 are Orlando-Kissimmee-Sanford, Miami-Fort Lauderdale-West Palm Beach, Cape Coral-Fort Myers, Wildwood-The Villages, Tampa-St. Petersburg-Clearwater, Naples-Marco Island, North Port-Bradenton-Sarasota, and Jacksonville. Return to text
    18. See, for example, David Autor, William Kerr, and Adriana Kugler (2007), “Do Employment Protections Reduce Productivity? Evidence from U.S. States,” Economic Journal, vol. 117 (June), pp. F189–F217; and Marcela Eslava, John Haltiwanger, Adriana Kugler, and Maurice Kugler (2004), “The Effects of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia,” Journal of Development Economics, vol. 75 (December), pp. 333–71. Return to text
    19. Data from the 2023 American Community Survey. Return to text
    20. Analysis by Robert Fairlie using Bureau of Labor Statistics Current Population Survey data reported in Ruth Simon (2024), “Latinos Are Starting U.S. Businesses at a Torrid Pace,” Wall Street Journal, March 26. Return to text
    21. See Sari Pekkala Kerr and William Kerr (2020), “Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012,” Research Policy, vol. 49 (April), 103918. Return to text

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