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Category: Science

  • MIL-OSI USA: What they’re saying: Governor Newsom’s state of emergency to fast-track wildfire prevention projects

    Source: US State of California 2

    Mar 6, 2025

    SACRAMENTO – Foresters, firefighters, community leaders and wildfire experts are applauding Governor Gavin Newsom’s state of emergency proclamation to remove red tape and increase the pace and scale of forest management in California. 

    Following the devastation of the Los Angeles firestorms and with the risk of wildfire increasing statewide, Governor Newsom over the weekend proclaimed a state of emergency to fast-track critical projects protecting communities from wildfire, ahead of peak fire season. 

    Here is a snapshot of what leaders are saying across the state:

    Doug Teeter, Butte County Supervisor: “Devastating wildfires unfortunately have greatly affected our State’s citizens and environment. I applaud the Governor’s commitment to reduce the bureaucratic bottleneck CEQA has become.”

    Graham Knaus, Chief Executive Officer, California State Association of Counties: “This is absolutely the right move from Governor Newsom. Counties are ready to move quickly to address wildfire risks. The next step in recognizing that fire season is now year-round is to codify these orders in state law.”

    Brian K. Rice, President, California Professional Firefighters: “Governor Newsom’s actions demonstrate a meaningful commitment to safeguarding our communities from the escalating threat of wildfires. By streamlining essential forest management projects and cutting through delays, this decisive action not only enhances public safety but also ensures that our firefighters can operate under safer conditions when responding to future incidents. Such proactive measures are crucial in mitigating the severity of wildfires and protecting both lives and property across California.”​

    Patrick Blacklock, Chief Executive Officer, Rural County Representatives of California: “Federal and State policy backed by the preponderance of science is clear that we need to accelerate the pace and scale of forest treatments if we are to reduce the risk of catastrophic wildfire and improve the health of our forests. This EO is a significant step forward and we stand ready to collaborate with the Governor’s Administration to implement it.”

    Assemblymember David Tangipa (R-Fresno): “I’ll be the first to give credit where it’s due—thank you Governor Newsom for suspending CEQA as our communities face the threat of massive wildfires. Now, we must act fast to create buffer zones between urban, wild lands and critical infrastructure. We don’t have any time to waste!”

    Michael Wara, Senior Research Scholar, Stanford University: “Newsom trying to get more wildfire safety work done this year, addressing a critical issue for California.”

    Pete Jackson, VP/GM, Green Diamond Resource Company: “As a Registered Professional Forester, a forest landowner, and the Vice President/General Manager of Green Diamond Resource Company’s California Timberlands, I support Governor Newsom’s proclamation of a state emergency to remove barriers to increasing the pace and scale of fuels treatment projects. Fire touches the lives of all Californians. This unprecedented emergency necessitates immediate action to protect communities and their homes, businesses, working forests, watersheds, and wildlife. We can solve this problem together. Let’s get to work.”

    Matt Dias, President and CEO, CalForests: “The Governor’s Proclamation of Emergency supporting prevention activities is one of the critical and necessary actions to protect lives, communities and forests in an era of increasing frequency and intensity of wildfires across California.”

    Paul Mason, VP Policy and Incentives, Pacific Forest Trust: “To prevent destructive wildfires California needs to increase the use of prescribed fire by at least an order of magnitude. We’re excited to help rethink how California can improve the permitting for prescribed fire. Fire is both natural and inevitable, and when we are proactive we can have more fire under conditions that give good outcomes rather than always fighting fire under the worst conditions.”

    Randi Spivak, Center for Biological Diversity: “The Governor’s order is strategic.”

    J. Lopez, Member of the California Board of Forestry and Fire Protection: “The Governor’s proclamation underscores the paramount importance of expediting the implementation of science-based resource management practices that safeguard and preserve natural and cultural resources, protect our towns and cities, and restore the traditional way of life for Californians.”

    Seth Schalet, CEO, Santa Clara County FireSafe Council: “Governor Newsom’s recent Executive Order is intended to fast-track fuel reduction projects across the state. As a 501(c)3 nonprofit, a non-state entity covered in the EO, this allows us to accelerate shovel ready projects that normally would go through the lengthy CEQA process, so more fuel treatments and escape routes can be started before this year’s fire weather kicks in. One project we lead in Santa Clara County, the 110,000-acre West Santa Clara Landscape Resilience Project will leverage Governor Newsom’s EO by utilizing the California Vegetation Treatment Plan to implement ecologically restorative fuel reduction treatments across more than 110,000 acres in western Santa Clara County. These strategically placed treatments will focus on the Wildland Urban Interface and areas where high fuel loads are impacting the health of ecosystems.”

    Christopher Anthony, former Chief Deputy Director of CAL FIRE & Wildfire Advisor: “I applaud Governor Newsom’s efforts to accelerate forest health and community risk reduction efforts to address the increasing size and severity of wildfires. Streamlining regulatory barriers will protect lives, property and the unique natural resources of the State. This effort will also guard against the downstream economic impacts wildfire can have on local communities. The Emergency Proclamation clears hurdles allowing the return of low-intensity, beneficial fire to fire adapted ecosystems across California, ensures community wildfire mitigation efforts can be implemented quickly, and expedites the reduction of hazardous vegetation from within and around communities. We have no other choice than to move forward with a sense of urgency to stabilize property loss and create a future where beneficial fire, not destructive fire, is the dominant contributor to annual area burned.”

    California Biomass Energy Alliance: “CBEA applauds the Governor Newsom’s call for a state of emergency to expedite forest management projects in order to protect lives. CBEA is prepared to work with the state on removal of that wood waste and converting some of it to renewable energy.”

    Joe Smailes and Lawrence Camp, Forest Landowners of California: “Forest Landowners of California (FLC) represents the nonindustrial forest landowners of the state of California. These landowners, estimated to be approximately 100,000 individuals, own and manage approximately 20 percent of California’s forested landscape. Historically, administrative burden and costs have slowed the pace and scale of vegetation management to reduce the risk of wildfire, maintain water quality, preserve wildlife habitat and store carbon. We strongly endorse the Governor’s proposals as set forth in his Executive Order issued on March 1, 2025.”

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    Mar 1, 2025

    News What you need to know: Governor Newsom is proclaiming a state of emergency to fast-track critical forest management projects – part of the state’s ongoing efforts to protect communities from catastrophic wildfire. SACRAMENTO – Following the devastation of the Los…

    MIL OSI USA News –

  • MIL-OSI Economics: Isabel Schnabel: Interview with wochentaz

    Source: European Central Bank

    Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Patricia Hecht and Beate Willms on 5 February 2025

    7 March 2025

    Ms Schnabel, do you remember the first time you held money in your hand?

    That must have been during primary school. I often used my pocket money to buy sweets or an ice lolly.

    So money was just a means of payment for you, something that let you buy things?

    Exactly. However, my father placed great importance on me understanding how to deal with money early on – even though as a teenager I wasn’t that interested. He later recommended an apprenticeship at a bank to me when I wasn’t sure what to do after I had finished school. And one of his arguments was that I should learn how to manage money.

    Did you have the impression he was particularly concerned because you were a girl?

    Well, he didn’t make the same suggestion to my brother. That bothered me a little. It was just taken for granted that my brother could deal with money. But, at the end of the day, my father’s recommendation may have been one of the reasons why I ended up in a male-dominated field.

    Is it true that women engage too little with money?

    I do think so. On average, women have a lower level of financial literacy than men. That’s a problem. It can lead to them making suboptimal financial decisions and possibly ending up in financial difficulties. For example, women are more at risk of poverty in old age. So financial planning is particularly important for women.

    Are women themselves to blame for being financially worse off?

    There are many structural reasons, for example interrupted career paths due to becoming a mother or caring for elderly relatives. In addition, women are significantly more likely to work part-time. These factors contribute to women having lower incomes and smaller pensions. The insufficient engagement with financial matters is also linked to traditional gender roles. However, there’s also an element of individual responsibility. Just as one needs to think about one’s health, one needs to also deal with finances. Today, there are plenty of ways to get informed, for example, through podcasts or YouTube channels, to name just a few.

    Today you are one of the people responsible for deciding on the financing conditions for 350 million people in the euro area, because it’s the ECB’s task to keep inflation in check. Out of the 26 members of the Governing Council, only two are women – Christine Lagarde and you. Is the monetary policy that you pursue different from that of the men?

    Research shows that men and women do behave differently when it comes to economic issues. So it is possible that monetary policy may change when more women join the decision-making bodies. What is key here is diversity – also in terms of views and experiences. That’s what makes decision-making more robust.

    How do financial decisions made by men and women differ?

    Women tend to be more risk-averse in their financial decisions and they are more afraid of losses. This, for example, leads them to invest less in the stock market and thus achieve lower returns. Women also have less confidence in their financial decision-making. So improving financial literacy would be particularly important for women.

    Is there a feminist monetary policy?

    To be honest, I haven’t really thought about this. Monetary policy used to focus primarily on the economy as a whole, for instance on aggregate economic activity or consumption. Meanwhile, research has evolved and is now looking more into the underlying heterogeneity. We know, for instance, that poorer people are particularly affected by rising energy and food prices. There are likely also noticeable differences across genders.

    What are you doing to attract more women to the ECB?

    As an institution, we have a keen interest in equal opportunities. This does not always mean a fifty-fifty distribution, but we aim to represent the society for which we make our decisions and to use the entire talent pool available. This is why we have set targets at all levels of hierarchy. In order to achieve those, around half of all new hires and promotions should be women, as long as we are below our targets.

    What else are you doing?

    We try to remove barriers. Often this concerns obstacles like a lack of childcare. The ECB offers good childcare facilities, starting at infancy, and we also have a European School. Additionally, we noticed that women applied for promotions less frequently than men. When reading a vacancy notice, women have more doubts than men whether they fulfill all the criteria perfectly. We are now more explicitly encouraging women to apply. This strategy has proven to be very successful.

    Are salary differences transparent at the ECB?

    We are part of the public service, which means that we follow a clear salary structure that depends on qualifications and tasks. Then there are various allowances, which depend on things like staff members’ family situation but not on their gender.

    How do you deal with the responsibility for decisions that affect the lives of so many people?

    When I learnt in 2019 that I would be nominated for the ECB’s Executive Board, I had just arrived by train at Bonn’s main station. I saw the people on the platform and thought – in the future, I will have to make decisions affecting all these people! That’s a completely different role from that of a researcher, and one that carries a lot of responsibility. I take my job extremely seriously and try to take all decisions to the very best of my knowledge.

    You worked at different universities in Germany and the United States for 15 years, became a professor in 2007, and you were also a member of the German Council of Economic Experts. Throughout your career, you were always one of few women – often the only one, as in the case of the ”wise (wo)men”.

    The higher you go, the fewer women there are. That is still the case. And it shapes the style of communication. An example was the research seminars at university, where all the professors were men and the tone was often very harsh and aggressive. As a young researcher, that bothered me, and I know my female colleagues felt the same.

    How did you deal with it?

    I simply accepted it at the time, but it made me feel insecure. You need to have confidence in your career potential. Some women are better at handling a male-dominated environment than others. But there are also women who have a different type of personality. Some of my female colleagues left the university back then.

    Does the tone change when there is another woman in the room?

    Yes, it changes the entire tone of the conversation. This is especially true when an institution or committee is led by a woman, as is the ECB. Christine Lagarde can set the tone here. I am really impressed by how she manages to create such an inclusive and friendly climate.

    Is there something like female solidarity between the two of you?

    Absolutely. We have a close personal relationship. We also talk about private matters and we trust each other. She listens to my concerns. I can always approach her and she finds time for me even though she is extremely busy.

    Is it different with your male colleagues?

    There are a number of male colleagues with whom I have a similarly trusting relationship, but it is indeed different. There is greater emotional closeness among women.

    How important are women’s networks in your field?

    Very important. It took me a long time to understand that. Today, I am part of many informal women’s networks. It is particularly important to invite younger women and to support each other. Former US Secretary of State, Madeleine Albright, once said there is a special place in hell for women who don’t help other women. We must support each other rather than seeing each other primarily as competitors. I myself benefited from having a female mentor who later became a colleague at the University of Mainz.

    You do that too. During the pandemic, your colleague Isabella Weber – a left-leaning economist from the University of Massachusetts who was then in her mid-30s – suggested tackling inflation with strategic price controls. As this contradicted the textbooks, Nobel laureate Paul Krugman, among others, publicly dismissed her idea as “truly stupid”.

    I found this treatment of Isabella Weber intolerable. And I had the impression that a man would have been treated differently. That simply shouldn’t be the case. Although I didn’t share the view on price controls, we must be open to consider unconventional ideas. It was probably also about maintaining power and thought leadership. In general, I would find it disastrous if women were discouraged from challenging the mainstream because of this.

    Have you yourself ever felt that people were treating you differently because you are a woman?

    I experience this constantly on social media. I am sometimes besieged with sexist comments and I then mute those people. But I don’t experience this in my immediate professional environment.

    But did you suffer from any disadvantages because of being a woman?

    At the beginning of my career, during my studies, I was firmly convinced that it didn’t matter whether one was a man or a woman. I thought I just had to be good enough, and then I would make it. At that time, I wasn’t particularly positive about the promotion of women. It took a while before I realised that there were a number of gender-specific barriers. For example, during my entire university studies in Germany, I didn’t have a single female professor. So I had no role models. These issues became more obvious when I had children. I have three daughters, which means that I was either pregnant or breastfeeding for around six years. The time between the ages of 32 and 38 were very exhausting for me. And that was precisely the critical phase for progressing in an academic career. When I arrived at the office completely rushed in the morning, I already had my first major task behind me. I sometimes struggled with that. Travelling also wasn’t easy when the children were small. I wasn’t very keen on it either, as I wanted to be with my family.

    How did you manage it nonetheless?

    My doctoral advisor Martin Hellwig played a major role in this. He had helped me to build up networks already during my doctoral studies – before I had children. At the time, I hadn’t yet realised how important that was. When the children came, he gave me complete flexibility.

    How soon did you return to work?

    Very quickly. With the first child, I was back at my computer right away. With the second, I took my daughter to the office in the beginning. By the time of the third child, I was already a professor, so I brought her with me when commuting by train from Bonn to Mainz during the breastfeeding period. Just getting the stroller into those old trains was a real challenge. All of the commuters knew me – the woman with the baby! At university, I had many people to support me. I sometimes recruited students to look after my baby while I was teaching. I even breastfed during office hours.

    Did your husband bring the children to work too?

    No, because I was breastfeeding. But it wouldn’t have been possible without him. My husband has always been very involved in our family work, even more so than me in recent years. I now work in Frankfurt, but our family is still in Bonn. Besides, we have had a wonderful nanny for over 20 years, who has been with us every day and helped us tremendously.

    Not everyone can afford a nanny.

    At the beginning, almost an entire salary went to that. But it’s sometimes overlooked that paid childcare is also an investment. It allows you to stay on your career path. And I always knew that my children were very well taken care of. That’s why I rarely had a guilty conscience.

    Did you have to make compromises because of your dual role as a mother and as an economist?

    Constantly. One must not have the expectation of being absolutely perfect in each role at all times. Otherwise, you will fail to live up to your own standards. But that wasn’t always easy for me.

    What did you have to compromise on?

    Mostly on my personal needs – I didn’t have much time for myself. And the same was true for my husband. But we also learned to be efficient. In the evenings, we would sometimes put our children to bed with their tights on to speed things up in the morning.

    Have you ever been accused of being a “raven mother” (bad mother)?

    Subtly, yes. But I didn’t take on that role. The paediatrician and author Remo Largo once said, in essence, that the most important thing was to be happy as a parent and a good role model. Children imitate what they see. And I believe I am a good mother to my daughters.

    It took you a few years to call yourself a feminist. Where do your daughters stand on that today?

    My daughters grew up knowing that women can achieve anything they want. Of course they complained from time to time that I wasn’t at home as much as other mothers. But they really like what I do and take it as motivation. My daughters are true feminists who will speak up when they are disadvantaged. I wouldn’t have had the confidence to do that at their age, but of course the world has also changed in that regard.

    And how do you introduce them to the topic of money?

    My husband and I are both economists and we have often talked about how to deal with money. But they tended to find financial investment rather tedious. Today, two of my daughters are studying economics, so they have automatically come closer to these topics.

    Mark Zuckerberg recently said that companies needed more “masculine energy”. Do you find that worrying, also in relation to your daughters?

    That worries me a lot. There’s a risk that society will go backwards, even though we are far from where we want to be. In the United States, this is currently more pronounced than it is here. But it’s spilling over. For the ECB, I can say that we stand firmly behind our diversity and inclusion strategy.

    MIL OSI Economics –

  • MIL-OSI Russia: Spring festival at the Polytechnic

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On the eve of March 8, women — doctors of science and professors — received congratulations from the rector of SPbPU Andrey Rudskoy, vice-rectors of the university and directors of institutes. The ceremonial event took place on March 6 in the café “Winter Garden” of the research building “Technopolis Polytech”.

    Women of the Polytechnic University take an active part in the development of the university, education and science. They are engaged in teaching activities, manage laboratories and make important discoveries. Many of them are professors and doctors of science. On the eve of International Women’s Day, the wonderful participants of the meeting were sincerely happy, listening to warm wishes from the men of the Polytechnic, who thanked them for their amazing patience, energy and charm.

    It is a great happiness that there are women professors in our team. This creates a special atmosphere at the university. Dear women, you are wise, deeply gifted, talented. I never tire of repeating how delighted I am that you find time for your family, while still managing to write articles, dissertations, give lectures and perform other duties. You are not only doctors and professors, you have many tasks on your shoulders. I wish you a peaceful sky and happiness in every family. Happy holiday, my dears, – said Andrey Rudskoy.

    The vice-rectors of SPbPU and directors of institutes joined in the congratulations.

    I congratulate you with all my heart on this holiday. You create the coziness and warmth that we all really need. Thank you very much for being there and supporting us. I would like to wish you beauty and a spring mood, – said First Vice-Rector Vitaly Sergeyev.

    It seems to me that in the last few years we have all realized how valuable happiness is. Therefore, I would like to wish you and your loved ones great human happiness. Do what you love, develop creatively, travel, – noted Vice-Rector for International Affairs Dmitry Arsenyev.

    I sincerely wish that everything is fine at home, that your children become part of the large family of polytechnicians, and that everything goes well for you at work. Beauty, health, happiness, – said Vladimir Glukhov, advisor to the rector’s office.

    Director of the Institute of Physical Culture, Sports and Tourism Valery Sushchenko delighted the beautiful ladies by reading a heartfelt poem for them. On this festive day, a string quartet under the direction of Ksenia Mitryaeva created a fairy-tale atmosphere, and the soloist of the musical alliance “Petersburg Baritones” Alexey Myagkov performed songs of the Soviet stage.

    After the formal part, colleagues happily continued communicating in an informal setting.

    As a token of gratitude and in memory of this pleasant meeting, the women scientists of the Polytechnic University were presented with flowers and gifts.

    Photo archive

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

    MIL OSI Russia News –

  • MIL-OSI Europe: Isabel Schnabel: Interview with wochentaz

    Source: European Central Bank

    Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Patricia Hecht and Beate Willms on 5 February 2025

    7 March 2025

    Ms Schnabel, do you remember the first time you held money in your hand?

    That must have been during primary school. I often used my pocket money to buy sweets or an ice lolly.

    So money was just a means of payment for you, something that let you buy things?

    Exactly. However, my father placed great importance on me understanding how to deal with money early on – even though as a teenager I wasn’t that interested. He later recommended an apprenticeship at a bank to me when I wasn’t sure what to do after I had finished school. And one of his arguments was that I should learn how to manage money.

    Did you have the impression he was particularly concerned because you were a girl?

    Well, he didn’t make the same suggestion to my brother. That bothered me a little. It was just taken for granted that my brother could deal with money. But, at the end of the day, my father’s recommendation may have been one of the reasons why I ended up in a male-dominated field.

    Is it true that women engage too little with money?

    I do think so. On average, women have a lower level of financial literacy than men. That’s a problem. It can lead to them making suboptimal financial decisions and possibly ending up in financial difficulties. For example, women are more at risk of poverty in old age. So financial planning is particularly important for women.

    Are women themselves to blame for being financially worse off?

    There are many structural reasons, for example interrupted career paths due to becoming a mother or caring for elderly relatives. In addition, women are significantly more likely to work part-time. These factors contribute to women having lower incomes and smaller pensions. The insufficient engagement with financial matters is also linked to traditional gender roles. However, there’s also an element of individual responsibility. Just as one needs to think about one’s health, one needs to also deal with finances. Today, there are plenty of ways to get informed, for example, through podcasts or YouTube channels, to name just a few.

    Today you are one of the people responsible for deciding on the financing conditions for 350 million people in the euro area, because it’s the ECB’s task to keep inflation in check. Out of the 26 members of the Governing Council, only two are women – Christine Lagarde and you. Is the monetary policy that you pursue different from that of the men?

    Research shows that men and women do behave differently when it comes to economic issues. So it is possible that monetary policy may change when more women join the decision-making bodies. What is key here is diversity – also in terms of views and experiences. That’s what makes decision-making more robust.

    How do financial decisions made by men and women differ?

    Women tend to be more risk-averse in their financial decisions and they are more afraid of losses. This, for example, leads them to invest less in the stock market and thus achieve lower returns. Women also have less confidence in their financial decision-making. So improving financial literacy would be particularly important for women.

    Is there a feminist monetary policy?

    To be honest, I haven’t really thought about this. Monetary policy used to focus primarily on the economy as a whole, for instance on aggregate economic activity or consumption. Meanwhile, research has evolved and is now looking more into the underlying heterogeneity. We know, for instance, that poorer people are particularly affected by rising energy and food prices. There are likely also noticeable differences across genders.

    What are you doing to attract more women to the ECB?

    As an institution, we have a keen interest in equal opportunities. This does not always mean a fifty-fifty distribution, but we aim to represent the society for which we make our decisions and to use the entire talent pool available. This is why we have set targets at all levels of hierarchy. In order to achieve those, around half of all new hires and promotions should be women, as long as we are below our targets.

    What else are you doing?

    We try to remove barriers. Often this concerns obstacles like a lack of childcare. The ECB offers good childcare facilities, starting at infancy, and we also have a European School. Additionally, we noticed that women applied for promotions less frequently than men. When reading a vacancy notice, women have more doubts than men whether they fulfill all the criteria perfectly. We are now more explicitly encouraging women to apply. This strategy has proven to be very successful.

    Are salary differences transparent at the ECB?

    We are part of the public service, which means that we follow a clear salary structure that depends on qualifications and tasks. Then there are various allowances, which depend on things like staff members’ family situation but not on their gender.

    How do you deal with the responsibility for decisions that affect the lives of so many people?

    When I learnt in 2019 that I would be nominated for the ECB’s Executive Board, I had just arrived by train at Bonn’s main station. I saw the people on the platform and thought – in the future, I will have to make decisions affecting all these people! That’s a completely different role from that of a researcher, and one that carries a lot of responsibility. I take my job extremely seriously and try to take all decisions to the very best of my knowledge.

    You worked at different universities in Germany and the United States for 15 years, became a professor in 2007, and you were also a member of the German Council of Economic Experts. Throughout your career, you were always one of few women – often the only one, as in the case of the ”wise (wo)men”.

    The higher you go, the fewer women there are. That is still the case. And it shapes the style of communication. An example was the research seminars at university, where all the professors were men and the tone was often very harsh and aggressive. As a young researcher, that bothered me, and I know my female colleagues felt the same.

    How did you deal with it?

    I simply accepted it at the time, but it made me feel insecure. You need to have confidence in your career potential. Some women are better at handling a male-dominated environment than others. But there are also women who have a different type of personality. Some of my female colleagues left the university back then.

    Does the tone change when there is another woman in the room?

    Yes, it changes the entire tone of the conversation. This is especially true when an institution or committee is led by a woman, as is the ECB. Christine Lagarde can set the tone here. I am really impressed by how she manages to create such an inclusive and friendly climate.

    Is there something like female solidarity between the two of you?

    Absolutely. We have a close personal relationship. We also talk about private matters and we trust each other. She listens to my concerns. I can always approach her and she finds time for me even though she is extremely busy.

    Is it different with your male colleagues?

    There are a number of male colleagues with whom I have a similarly trusting relationship, but it is indeed different. There is greater emotional closeness among women.

    How important are women’s networks in your field?

    Very important. It took me a long time to understand that. Today, I am part of many informal women’s networks. It is particularly important to invite younger women and to support each other. Former US Secretary of State, Madeleine Albright, once said there is a special place in hell for women who don’t help other women. We must support each other rather than seeing each other primarily as competitors. I myself benefited from having a female mentor who later became a colleague at the University of Mainz.

    You do that too. During the pandemic, your colleague Isabella Weber – a left-leaning economist from the University of Massachusetts who was then in her mid-30s – suggested tackling inflation with strategic price controls. As this contradicted the textbooks, Nobel laureate Paul Krugman, among others, publicly dismissed her idea as “truly stupid”.

    I found this treatment of Isabella Weber intolerable. And I had the impression that a man would have been treated differently. That simply shouldn’t be the case. Although I didn’t share the view on price controls, we must be open to consider unconventional ideas. It was probably also about maintaining power and thought leadership. In general, I would find it disastrous if women were discouraged from challenging the mainstream because of this.

    Have you yourself ever felt that people were treating you differently because you are a woman?

    I experience this constantly on social media. I am sometimes besieged with sexist comments and I then mute those people. But I don’t experience this in my immediate professional environment.

    But did you suffer from any disadvantages because of being a woman?

    At the beginning of my career, during my studies, I was firmly convinced that it didn’t matter whether one was a man or a woman. I thought I just had to be good enough, and then I would make it. At that time, I wasn’t particularly positive about the promotion of women. It took a while before I realised that there were a number of gender-specific barriers. For example, during my entire university studies in Germany, I didn’t have a single female professor. So I had no role models. These issues became more obvious when I had children. I have three daughters, which means that I was either pregnant or breastfeeding for around six years. The time between the ages of 32 and 38 were very exhausting for me. And that was precisely the critical phase for progressing in an academic career. When I arrived at the office completely rushed in the morning, I already had my first major task behind me. I sometimes struggled with that. Travelling also wasn’t easy when the children were small. I wasn’t very keen on it either, as I wanted to be with my family.

    How did you manage it nonetheless?

    My doctoral advisor Martin Hellwig played a major role in this. He had helped me to build up networks already during my doctoral studies – before I had children. At the time, I hadn’t yet realised how important that was. When the children came, he gave me complete flexibility.

    How soon did you return to work?

    Very quickly. With the first child, I was back at my computer right away. With the second, I took my daughter to the office in the beginning. By the time of the third child, I was already a professor, so I brought her with me when commuting by train from Bonn to Mainz during the breastfeeding period. Just getting the stroller into those old trains was a real challenge. All of the commuters knew me – the woman with the baby! At university, I had many people to support me. I sometimes recruited students to look after my baby while I was teaching. I even breastfed during office hours.

    Did your husband bring the children to work too?

    No, because I was breastfeeding. But it wouldn’t have been possible without him. My husband has always been very involved in our family work, even more so than me in recent years. I now work in Frankfurt, but our family is still in Bonn. Besides, we have had a wonderful nanny for over 20 years, who has been with us every day and helped us tremendously.

    Not everyone can afford a nanny.

    At the beginning, almost an entire salary went to that. But it’s sometimes overlooked that paid childcare is also an investment. It allows you to stay on your career path. And I always knew that my children were very well taken care of. That’s why I rarely had a guilty conscience.

    Did you have to make compromises because of your dual role as a mother and as an economist?

    Constantly. One must not have the expectation of being absolutely perfect in each role at all times. Otherwise, you will fail to live up to your own standards. But that wasn’t always easy for me.

    What did you have to compromise on?

    Mostly on my personal needs – I didn’t have much time for myself. And the same was true for my husband. But we also learned to be efficient. In the evenings, we would sometimes put our children to bed with their tights on to speed things up in the morning.

    Have you ever been accused of being a “raven mother” (bad mother)?

    Subtly, yes. But I didn’t take on that role. The paediatrician and author Remo Largo once said, in essence, that the most important thing was to be happy as a parent and a good role model. Children imitate what they see. And I believe I am a good mother to my daughters.

    It took you a few years to call yourself a feminist. Where do your daughters stand on that today?

    My daughters grew up knowing that women can achieve anything they want. Of course they complained from time to time that I wasn’t at home as much as other mothers. But they really like what I do and take it as motivation. My daughters are true feminists who will speak up when they are disadvantaged. I wouldn’t have had the confidence to do that at their age, but of course the world has also changed in that regard.

    And how do you introduce them to the topic of money?

    My husband and I are both economists and we have often talked about how to deal with money. But they tended to find financial investment rather tedious. Today, two of my daughters are studying economics, so they have automatically come closer to these topics.

    Mark Zuckerberg recently said that companies needed more “masculine energy”. Do you find that worrying, also in relation to your daughters?

    That worries me a lot. There’s a risk that society will go backwards, even though we are far from where we want to be. In the United States, this is currently more pronounced than it is here. But it’s spilling over. For the ECB, I can say that we stand firmly behind our diversity and inclusion strategy.

    MIL OSI Europe News –

  • MIL-OSI Russia: Highly commended: GUU received a diploma at the Education and Career exhibition

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    The State University of Management was awarded a diploma for work with youth, a major contribution to the development of higher and professional education and educational activities by the organizing committee of the Education and Career exhibitions.

    The award was presented at the 60th Moscow International Exhibition, which took place on the first weekend of March at Gostiny Dvor.

    SUM takes part in the event every year, telling thousands of applicants and parents about its programs. Read about how it was in 2025 in this article.

    The exhibition “Education and Career” is held with the support of the Ministry of Science and Higher Education of the Russian Federation, the Ministry of Industry and Trade of the Russian Federation, and the Government of the City of Moscow. In terms of scale and quality of implementation, the exhibition ranks among the first among similar events both in Russia and in the world.

    Subscribe to the TG channel “Our GUU” Date of publication: 03/07/2025

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: expert reaction to study looking at butter or vegetable oils and mortality

    Source: United Kingdom – Executive Government & Departments

    A study published in JAMA Internal Medicine looks at butter and plant based oils intake and mortality.

    Prof Sarah Berry, Professor of Nutritional Sciences, King’s College London, said:

    “The study shows that high butter consumption is linked to increased cancer and total mortality, whereas plant-based oils are linked to a lower risk of overall mortality and death due to cardiovascular disease and cancer.

    “This research is very timely.  Social media is currently awash with influencers promoting butter as a health food and claiming that seed oils are deadly.  This large-scale, long-term study finds the reverse.  The authors produce further evidence that seed oil consumption is linked to improved health and that butter – delicious as it is – should only be consumed once in a while.

    “In a sane world, this study would give the butter bros and anti-seed oil brigade pause for thought, but I’m confident that their brand of nutri-nonsense will continue unabated.”

    Dr Louise Flanagan, Head of Research for the Stroke Association, said: 

    “Stroke is the fourth leading cause of death in the UK and a leading cause of adult disability – but, fortunately, nine out of 10 strokes can be prevented.  High blood pressure is the cause of around half of all strokes.

    “This study covered a wider range of plant oils than previous research to find that greater consumption of rapeseed oil, soybean oil or olive oil is associated with an overall lower risk of death.  It is positive to see other plant oils being considered in this way as olive oil has been a focus of much research in the past.

    “The suggestion to switch from butter to plant oils is achievable for many people.  However, it was only olive oil that was associated with a lower risk of death due to cardiovascular disease, including stroke.  Olive oil is typically more expensive than other oils like rapeseed which means that its potential health benefits could be out of financial reach for some.

    “The study didn’t consider what eating both butter and plant oils means in terms of health risks, which is likely to be what many people naturally do.  This is potentially something which could be considered in future studies.

    “The Stroke Association encourages people to maintain a healthy diet, exercise regularly, not smoke and monitor alcohol intake, which can help to maintain healthy blood pressure.  Anyone with concerns should speak to their GP.”

    Prof Parveen Yaqoob, professor of nutritional science at the University of Reading, said:

    “The link between diets high in saturated fat, particularly animal-based fat such as butter and lard, and higher mortality has been argued for decades.  I have seen American adverts from the 1960s extolling the virtues of American housewives “polyunsaturating” their husbands when they come home from work.  This is a fun historical reminder of the link between the food industry and dietary health messages, as well as showing how much woman have had to fight for social progress.

    “This latest research provides strong additional data to support the ‘healthier fats’ theory.  The research followed a large cohort of health workers in America over many years.  The use of food frequency questionnaires means that we are relying on the participants to remember what they have eaten and how much, which we know can be an unreliable indicator of actual dietary patterns.

    “The scientists for this study highlight that not all vegetable oils are equal.  Although butter was being replaced by corn oil and sunflower oil, which are polyunsaturated, in the 1960s and 70s, the oils they are talking about in the research – olive, canola and soybean – are mainly monounsaturated.  The researchers suggests that these are more beneficial than the polyunsaturated fats, and refer to the Mediterranean diet, which is higher in monounsaturated fats such as olive oil, for that reason.  While many Western diets shifted away from saturated fat to polyunsaturated fat in the 1970s, the oils that we consume more often now contain more monounsaturates, which seem to be more beneficial.  Given that there are some plant-based oils that are high in saturates – such as palm oil and coconut oil – it is important to consider them separately.

    “Recent dietary fads have suggested a re-examination of evidence on dietary fat.  People who are confused about these conflicting messages about their diet should focus on broader, well-established advice, which can be summarised as: eat more fresh vegetables.”

    Prof Tom Sanders, Professor emeritus of Nutrition and Dietetics, King’s College London, said:

    “This important study shows that people who chose to eat butter don’t live as long as those who chose to eat vegetable oils.  It is a well conducted prospective study of 221,054 health professionals who were in their fifties when enrolled and followed up for 33 years.  Dietary intakes were assessed every 4 years.  The study reports that those who had the highest intake of butter were 15% more likely to die prematurely (from both cardiovascular disease and cancer).  In comparison the opposite was true (a 16 % reduction in relative risk of all-cause mortality), for participants who had the highest intake of vegetable oil.  The same relationship was seen for olive oil, soybean oil and canola oil (rapeseed oil).

    “The strength of the study is the long period of follow-up, repeated measures of dietary intake and adjustment in the statistical analysis for other factors such as smoking habit and obesity.  The findings do not apply to sunflower, palm or coconut oils which were not consumed to any significant extent in this study.  The limitations are that this an observational study not a randomised controlled trial.  Furthermore, the findings with regard to health professionals may differ from the general population because they are better informed about healthy lifestyle choices.

    “Butter is high in saturated fat, contains some trans fatty acids but is very low in polyunsaturated fats.  Whereas unhydrogenated soybean, canola and olive oils are low in saturated fatty acids but high in unsaturated fats.  Replacement of butter with these vegetable oils is well documented to lower blood cholesterol, particularly that associated with low density lipoprotein (LDL) by about 10%.  This change in LDL cholesterol would be predicted to reduce the relative risk of death by about 3% which is much less than what was observed in this study.  It remains possible that a higher intake of polyunsaturated fatty acids (especially linoleic acid) from the vegetable oil may have played a role in reducing risk by a variety of mechanisms.  An alternative explanation may be that health professionals who are sensible follow prevailing healthy eating and lifestyle advice compared to those who don’t.

    “The take home message is that it is healthier to choose unsaturated vegetable oils rather than butter.  This is particularly relevant as there has been much negative publicity about vegetable oils on social media, which are based on unfounded claims of potential harmful effects, rather than deaths as described in the present study.”

    Prof George Davey Smith, FRS FMedSci, Professor of Clinical Epidemiology, University of Bristol, said:

    “Yet again these studies show that the exposure that is accompanied by large differences in other adverse health exposures – e.g. more than double the rate of cigarette smoking in the highest quartile vs lowest quartile of butter consumption is associated with worse health outcomes.  That these differences cannot be taken into account by the statistical models the authors use is well known; measurement error and unmeasured factors ensure this.  It is now more than 30 years since these authors published two high profile papers back to back in the New England Journal of Medicine claiming that vitamin E supplement use would reduce heart disease risk by 40%.  The claims were incorrect, but many people believed them – the story was the headline news in the New York Times – and started taking vitamin E supplements.  However randomised trials later showed this was nonsense: there was no benefit.  This is documented in the first few minutes of this recent talk https://www.youtube.com/watch?v=8IgpTT5ZXXU&t=2s  As in the conclusion of my blog1 on the same authors’ “dark chocolate” paper, the interesting question this paper raises is “why do supposedly legitimate journals keep publishing papers like this?”.”

    1 https://ieureka.blogs.bristol.ac.uk/2024/12/04/dark-chocolate-diabetes/

    ‘Butter and Plant-Based Oils Intake and Mortality’ by Yu Zhang et al. was published in JAMA Internal Medicine at 21:00 UK time on Thursday 6 March 2025.

    DOI: 10.1001/jamainternmed.2025.0205

    Declared interests

    Prof Sarah Berry: “Sarah has received funding from the Almond Board of California, Malaysian Palm Oil Board and ZOE (Chief scientist at ZOE Ltd, options and consultancy at ZOE Ltd.).”

    Dr Louise Flanagan: “None.”

    Prof Parveen Yaqoob: “Professor Parveen Yaqoob is Deputy Vice-Chancellor, and Pro-Vice-Chancellor (Research & Innovation) of the University of Reading, and professor of nutritional science in the Department of Food and Nutritional Sciences, which has funding from public bodies, charities and businesses to conduct independent scientific research on food and nutrition.

    The Department has done work on dietary fat, including research co-authored by Parveen as part of the DIVAS project: https://research.reading.ac.uk/ifnh/cases/milk-dairy-consumption-risk-cardiovascular-diseases-cause-mortality/  Mostly government or UKRI funded, with industry partners.  The papers listed from that project list grant numbers.

    Work on reducing saturated fat in dairy was a REF case study, which includes grant numbers from BBSRC and MRC, and had industry partners throughout, which is one of the ways in which the research was considered to have impact.

    https://results2021.ref.ac.uk/impact/eefa0a3d-4ba8-4419-8c28-836e06b41eed?page=1.”

    Prof Tom Sanders: “I am a member of the Programme Advisory Committee of the Malaysia Palm Oil Board which involves the review of research projects proposed by the Malaysia government.

    I also used to be a member of the Scientific Advisory Committee of the Global Dairy Platform up until 2015.

    I did do some consultancy work on GRAS affirmation of high oleic palm oil for Archer Daniel Midland more than ten years ago.

    My research group received oils and fats free of charge from Unilever and Archer Daniel Midland for our Food Standards Agency Research.

    Tom was a member of the FAO/WHO Joint Expert Committee that recommended that trans fatty acids be removed from the human food chain.

    Member of the Science Committee British Nutrition Foundation.  Honorary Nutritional Director HEART UK.

    Before my retirement from King’s College London in 2014, I acted as a consultant to many companies and organisations involved in the manufacture of what are now designated ultraprocessed foods.

    I used to be a consultant to the Breakfast Cereals Advisory Board of the Food and Drink Federation.

    I used to be a consultant for aspartame more than a decade ago.

    When I was doing research at King’ College London, the following applied: Tom does not hold any grants or have any consultancies with companies involved in the production or marketing of sugar-sweetened drinks.  In reference to previous funding to Tom’s institution: £4.5 million was donated to King’s College London by Tate & Lyle in 2006; this funding finished in 2011. This money was given to the College and was in recognition of the discovery of the artificial sweetener sucralose by Prof Hough at the Queen Elizabeth College (QEC), which merged with King’s College London. The Tate & Lyle grant paid for the Clinical Research Centre at St Thomas’ that is run by the Guy’s & St Thomas’ Trust, it was not used to fund research on sugar. Tate & Lyle sold their sugar interests to American Sugar so the brand Tate & Lyle still exists but it is no longer linked to the company Tate & Lyle PLC, which gave the money to King’s College London in 2006.”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Happy International Women’s Day!

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University – Dear colleagues, partners, we sincerely congratulate you on International Women’s Day!

    This day reminds us how important women’s talent, wisdom and care are in our lives. We appreciate your efforts, dedication and the incredible atmosphere you create around you.

    May every day bring you joy, inspiration and new achievements. We wish you health, happiness, excellent mood and harmony in your soul. May your path be easy and pleasant, and may every day be filled with smiles!

    Remember that you make our lives better and we are proud of your achievements, it is an honor for us to collaborate and work with such amazing people!

    May all your dreams come true and your successes multiply!

    Sincerely, Rector of NSU, Academician of the Russian Academy of Sciences Mikhail Fedoruk

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

    MIL OSI Russia News –

  • MIL-OSI Europe: Assessing the Damage of a Trump-Putin Deal

    Source: Universities – Science Po in English

    This is not the “end of history” heralded by some after 1989, but certainly the end of an era marked by the post-war transatlantic alliance of Western democracies. The Alliance was created at the instigation of the United States; it is being undone by the United States. Trump’s pivot to Russia in dealing with the war in Ukraine closes a 75-year-old chapter in our history. It leaves behind a series of casualties’, not just collateral damage.

    Jacques Rupnik, Research Professor Emeritus at Sciences Po Center for International Studies (CERI) briefly sketched the most important. An article originally published by our partner The Conversation.

    The first casualty is Ukraine

    After the Alliance, first and most obvious is Ukraine. After the roasting given to president Zelensky in the White House, broadcast live to the world, the message is clear: there will be a ‘peace’ negotiated by Trump and Putin (their foreign ministers’ meeting was held in Ryiad) and imposed on the Ukrainians. It’s not a “give and take” negotiation, it is “take it or leave it”. Trump branded as a minor trophy in his speech to the Congress on 4 March 2025, the letter received from the Ukrainian president, revising his defiant stance: “I want peace quickly and am prepared to negotiate now”. “Negotiate”? He has not so far been invited to a negotiation which will be about Ukraine without Ukraine. Chose your historical analogy: Munich where Britain and France abandoned Czechoslovakia to Hitler in 1938 or the Hitler-Stalin pact of August 1939 which divided East European spheres of influence between them.

    In accepting the would-be ‘peace deal’ Ukraine would also give the US access to rare earth in Ukraine (some of it happens to be in Donbas controlled by Russia). In short, Ukraine’s choice, now deprived of US military backing (including intelligence and the capacity to strike in Russian territory), is: do you want to continue fighting on your own with the risk of being gradually exhausted and occupied by Russia or are you willing to cede, say, half of your territory – to the “Donald Trump & Co” mining company? Make-up your mind fast as the US president promised the deal would be settled within hundred days.

    The second casualty is Europe

    The second casualty is Europe or more precisely the political and security predicament inherited from the cold-war era and confirmed during America’s “unipolar moment” (Charles Krauthammer) which followed 1989. The moment was just that, a moment. Until now, the overwhelming majority of EU member-states cherished as an article of faith the idea that the American security umbrella was there and would stay there. That meant clinging to US foreign and security agenda and provide support to US international adventures including the 2003 war in Iraq. The East Europeans in particularly were adamant: you follow the US in the Mesopotamian desert, whether or not you believed the case made for it, but because you considered it as the best investment in your own security just as you were joining NATO. America was and remained the “indispensable nation” as Madeleine Albright put it. For many, particularly in Germany, Trump’s first term in office was seen as a mere parenthesis. Now it is Biden’s presidency which looks like a parenthesis between Trump I and Trump II.

    Macron’s call for European “strategic autonomy” or “European sovereignty” were seen with some suspicion as perhaps another neo-Gaullist ploy to distance Europeans from their American allies. A misperception as what was Macron was proposing was “Eurogaullism”, i.e. not French but European “strategic autonomy”.

    The harsh truth about Trump’s pivot to Russia

    Now the Europeans in a state of shock have to confront some harsh truths about Trump’s pivot to Russia and the Alliance losing its most precious asset: trust. The Nato article 5 guarantee – the principle of collective defence, which means that an attack against one Ally is considered as an attack against all Allies – is still formally there, but the faith in the American guarantee is gone.

    What we have just witnessed is the ‘de-coupling’ between the European and American allies. That had been a long-term objective of Soviet foreign policy during the cold war; it now comes true under Putin. In the 1980’s when the Soviet SS20 medium range missiles were deployed (could hit Western Europe, not the US), West Europeans supported the deployment of American Pershing missiles. French president Mitterrand went to the Bundestag to make the case in the face of a strong pacifist reaction in Germany: “Les missiles sont à l’Est, les pacifistes sont à l’Ouest” (“Missiles are in the East, pacifists are in the West”), Mitterrand said.

    A defining moment for Europeans

    This is now a defining moment for Europeans and it remains to be seen if and how they will rise to the occasion. The Munich conference displayed one, not very encouraging version. J. D. Vance first surprised his audience saying he was more worried about the threat from within (liberalism and its liberal and/or progressive values) than from without (Putin). He chastised the Europeans for not living up to the democratic values, leaving the European establishment present at the conference baffled and amazed: not just the war in Ukraine, but democracy too was now explictly part of the new Atlantic divide. Tensions between popular sovereignty as expressed in elections, and the rule of law with the separation of powers and its constitutional constraints, has been at the center of a more than two centuries old debate on both sides of the Atlantic (back to Tocqueville and his warnings about the “tyrany of the majority”). Vance made the case for the Trumpian version of “populist democracy” attacking the prevailing European version of liberal democracy based on the rule of law. Instead of responding in kind, as Vance rushed off to his meeting with the leader of the extreme right AfD, the president of the Munich conference, Christoph Heussgen, an experienced German diplomat, collapsed in tears. The whipping boy vs the weeping boy. A sad symbolic moment for Europe.

    However, in response to Trump’s pivot to Russia, the Europeans are coming to terms with the fact that they are now on their own. The meeting organised in London on 2 March 2025, suggests that a coalition of the willing is in the making in support of Ukraine and determined to give substance to a European “common security and defense policy” long discussed, now to be implemented.

    Who will be part of it?

    Who will be part of it? France and Britain, because of their military capacity, their nuclear power status and their old strategic culture. The Weimar triangle Paris-Berlin Warsaw is likely be its crucial axis within the EU. Macron has taken an increasingly tough stance on Russia and can claim to be a forerunner in terms of Europe’s “strategic autonomy”. The new German chancellor, Friedrich Merz, has for the first time openly suggested that defense spending should not be constrained by outdated spending limits and that German/European security will have to be envisaged independently of the US.

    Poland’s Donald Tusk, now in charge of EU’s rotating presidency, has been a forerunner in his warnings about Russian expansionist ambitions and is the most explicit among Europeans concerning the effort needed in terms of building a European defense capacity (Poland spends 4,5% of the GDP for defense). The coalition will also include the Nordic countries: Danmark, mobilised in defense of… Greenland (!), Finland and Sweden who know a thing or two about the Russian threat and have now joined Nato only to discover that its founder is on the way out…

    As Tusk aptly put it: “500 million Europeans expect 340 million Americans to protect them against 140 million Russians”. Time for Europeans to take charge of their own destiny.

    MIL OSI Europe News –

  • MIL-OSI Europe: Media campaign marking 100 years of the women’s movement launched in Kyrgyzstan with OSCE support

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Media campaign marking 100 years of the women’s movement launched in Kyrgyzstan with OSCE support

    Women leaders at the press café dedicated to 100 years of the women’s movement in Kyrgyzstan, Bishkek, 6 March 2025. (OSCE/Aliia Zhakypova) Photo details

    On 6 March 2025, an event marking the centenary of the women’s movement in Kyrgyzstan and highlighting the role of women in societal development took place with the support of the OSCE Programme Office and its partners at the National Historical Museum of the Kyrgyz Republic.
    The event brought together representatives from government institutions, the expert community, civil society, and the media. The discussions centred on women’s achievements, their contributions to national progress, and the key challenges that remain on the path to gender equality.
    Speakers reflected on the 1920s and 1930s, when Kyrgyz women played a pivotal role in combating illiteracy, establishing the first schools for girls, and expanding labour rights. Today, women in Kyrgyzstan are increasingly taking on leadership roles in politics, the economy, and public life.
    A key moment of the event was the presentation of the media campaign “100 Stories of Women for the 100th Anniversary of the Women’s Movement.” The initiative honours outstanding Kyrgyz women who have made significant contributions to society. To date, more than 120 stories of female leaders from diverse fields—including politics, science, culture, and business—have been collected.
    “Today’s event underscores the invaluable role women play in the development of Kyrgyzstan. Their stories are not merely a reflection of the past or present but serve as a guiding light for future generations. Women are transforming society, and our duty is to support their aspirations by ensuring equal opportunities in all spheres of life,” remarked Gulmira Okoyeva, a representative of the Ministry of Labour, Social Protection, and Migration of the Kyrgyz Republic.
    Participants discussed the necessary steps to further advance gender equality, identifying key challenges such as:
    The need to strengthen women’s representation in politics and governance;
    The importance of targeted support programmes for female entrepreneurs;
    The necessity of engaging young people in fostering a culture of equality.
    The event concluded with a ceremony honoring the inspiring women featured in the media campaign and the authors of their stories, presenting them with certificates in recognition of their efforts to promote a society where every girl and woman enjoys equal rights and opportunities.
    The press café was organised by the Alliance of Women’s Legislative Initiatives, with technical support from the OSCE Programme Office in Bishkek and the InKoom project, “Promoting the Development of a Fair and Inclusive Society in Kyrgyzstan,” implemented with financial support from the European Union.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: Children embrace the future with humanoid school project

    Source: United Kingdom – Executive Government & Departments

    News story

    Children embrace the future with humanoid school project

    Using humanoids to inspire children to get involved in the science and technology of the future.

    The Government Office for Science and the Association for Science and Discovery Centres (ASDC) are piloting a programme aimed at getting primary school children excited about science and technology and how it will contribute to solving some of the biggest challenges of our time.    

    This pilot phase turns analysis done by the Government Office for Science into a fun, futuristic poster that can be used as a starting point for a classroom discussion which introduces the world of humanoid robots and some of the ways they can support us now and in the future. 

    Government Chief Scientific Adviser Professor Dame Angela McLean said:

    The school outreach project is an exciting opportunity to prompt young people to think about important new ideas, how these will affect their lives, and how they can get involved in science and technology for the good of our collective future. I hope it helps to raise the next generation of enthusiastic scientists and engineers!

    Chief Executive of ASDC Shaaron Leverment said:

    This poster aims to spark curiosity, imagination and aspiration. We’re achieving this by working closely with regional science centres – through their trusted relationships with local schools and teachers, their understanding of regional diversity and close adherence to evidenced approaches to accessible and impactful STEM engagement. 

    The pilot programme is running in schools in Oxfordshire, Buckinghamshire, Leicestershire and Nottinghamshire and aims to spark interest among Year 5 and 6 children.  

    As part of the collaboration, the Government Office for Science has designed the poster and background information for teachers to use in sessions on it, while the ASDC has distributed the poster to schools through the network of Science and Discovery Centres and conducted focus groups to gather feedback from teachers and pupils.  

    The pilot is the first step in what is hoped to be a long-term project that will see more analysis on emerging technologies from the Government Office for Science used to guide discussions.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: How AI is transforming the search for new materials

    Source: Anglia Ruskin University

    Battery technology could benefit from the development of new materials through AI

    By Domenico Vicinanza, Anglia Ruskin University

    From the bronze age to the Industrial Revolution and beyond, the discovery and development of new materials has been a driving force in human history. These novel materials have helped advance technology and shape civilisations.

    Today, we are at the beginning of a new era, where artificial intelligence (AI) seems to be in the perfect position to transform the search for useful materials. This looks set to completely change the approach to their investigation, creation and testing.

    In ancient times, human civilisations experimented with natural resources to create tools and artifacts. The bronze age, in the mid-4th millennium BC, was a significant milestone. Bronze, an alloy of copper and tin, led to the development of stronger tools and weapons, as well as advancements in agriculture and construction.

    Bronze is often referred to as the first “new material” created by humans. We took different elements and created something new, with better properties than either ingredient and unique qualities. The invention of glass in ancient Mesopotamia around 3,500BC was another groundbreaking moment.

    Fast forward to the 20th century and the discovery of plastic polymers, ceramics and superconductors opened new frontiers in technology. Ceramics, known for their durability and heat resistance, became a staple in industries from aerospace to electronics.

    Superconductors, materials that can conduct electricity with zero electrical resistance, are already used in maglevs (magnetic levitation trains), particle accelerators and medical devices.

    AI enters the fray

    Searching for new materials that could help drive the development of the next groundbreaking technologies has previously been a long and expensive process. This has been due to the complexity of many materials at the atomic and molecular levels. Traditional methods are essentially based on trial and error and need specialised equipment and resources.

    The inherent uncertainty and risk in material discovery further complicates and lengthens the process. However, advancements in AI, including in a subset of AI called machine learning, are beginning to transform the whole landscape, enabling more efficient and targeted approaches. In machine learning, mathematical rules called algorithms learn from data to improve at tasks without human intervention.

    The main shift is a new methodology based on “generative” AI systems, which can create new content. AI systems can now directly produce novel materials when provided with desired properties and constraints.

    Earlier this year, a team at Microsoft published a paper in Nature that introduced a pair of AI tools for the design of inorganic materials (those not based around the element carbon).

    These tools play complementary roles in materials discovery. They are called MatterGen and MatterSim. The first one creates new candidate materials, and the second filters and validates them – to ensure they could be made in the real world.

    The specific desired properties that can be incorporated through MatterGen include a specific symmetry, or mechanical, electronic and magnetic properties.

    Unlike traditional methods that mostly rely on intuition (along with extensive and tedious experimentation), MatterGen can generate thousands of potential materials with specific desired properties in a fraction of the time.

    This AI-led approach accelerates the initial stages of material design. It allows researchers to explore a broader range of possibilities and focus on the most promising candidates.

    MatterSim applies rigorous computer analysis to predict the stability and viability of these proposed materials. This predictive capability helps filter out theoretical possibilities from physically feasible ones. This ensures that only stable materials move forward in the discovery process.

    New tools in the box

    At this point, we might wonder, what does a new material, identified through this process, look like? MatterSim is mostly focusing on crystals, or more appropriately unique crystalline structures with a specific arrangement of atoms.

    These structures are tailored to meet precise property constraints, making them suitable for various applications. These include high energy batteries, flexible electronics, displays, solar panels or advanced medical implants.

    Microsoft’s powerful duo, however, is not alone in its quest. Google DeepMind’s Graph Networks for Materials Exploration (Gnome) is another tool promising to dramatically speed up the discovery process. Gnome uses a form of AI that’s inspired by the human brain called deep learning. It predicts the stability of new materials, significantly shortening the exploration and discovery phase.

    In a paper published in 2023, researchers from Google DeepMind demonstrated that their AI model could identify 2.2 million new stable materials. Some 736 of these have already been experimentally realised. This is a tenfold increase over previous methods. These materials, many of which were previously unknown to human chemists, have potential applications in clean energy, electronics, and more.

    Even if both Google’s Gnome and Microsoft’s MatterGen are AI-based, they differ in their approaches and, in some ways, provide complementary methodologies. Gnome predicts the stability of new materials by creating variations on existing structures, and it focuses on identifying stable crystalline materials.

    MatterGen, on the other hand, employs a generative AI model to directly engineer novel materials based on specific design requirements. It creates material structures by changing elements, positions and periodic lattices (a repeating structure in three dimensions).

    The implications of AI-driven material discovery are vast. They could potentially lead to innovations in fields such as energy storage and environmental sustainability. One of the most promising applications is the development of new batteries.

    As the world makes the transition to renewable energy sources, the demand for efficient, long lasting batteries has grown and will continue to do so. AI tools can help researchers design and identify new materials able to support higher energy densities, faster charging times and longer lifespans.

    Beyond energy storage, new materials can be used to design new medical devices, implants and even drug delivery systems. This could improve patient outcomes and advance medical treatments.

    In aerospace, lightweight, durable materials could enhance the performance and safety of aircraft and spacecraft. Meanwhile, new materials for water purification, carbon capture, and waste management could address pressing environmental challenges.

    Domenico Vicinanza, Associate Professor of Intelligent Systems and Data Science, Anglia Ruskin University

    This article is republished from The Conversation under a Creative Commons license. Read the original article.

    The opinions expressed in VIEWPOINT articles are those of the author(s) and do not necessarily reflect the views of ARU.

    If you wish to republish this article, please follow these guidelines: https://theconversation.com/uk/republishing-guidelines

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: New UK-made space system to help protect military satellites

    Source: United Kingdom – Executive Government & Departments

    Press release

    New UK-made space system to help protect military satellites

    Innovative UK-made tech will help the military monitor space following a new £65 million deal agreed today, in British Science Week.

    UK Space Command Operations

    The Borealis command, control and data processing system will help the UK military the UK Space Agency to better monitor and protect satellites, through new software which compiles and processes data from multiple sources, more quickly, to monitor space.  

    The £65 million deal with CGI UK, an IT systems integration specialist, will support around 100 skilled jobs in Leatherhead, Reading and Bristol, boosting the UK’s space capabilities and delivering on the Government’s Plan for Change.  

    The new technology will provide UK military with a better understanding of the Space Domain, improving military commanders decision-making process and supporting operations, both at home and overseas.  

    Under the five-year contract, Borealis will provide software for the National Space Operations Centre, which develops and operates the UK’s space surveillance and protection capabilities. It will be a unique, UK-made system which support military operations around the world.  

    Minister for Defence Procurement and Industry, Rt Hon Maria Eagle MP, said:

    This new deal delivers for our national security by enhancing protection for our satellite technology that millions rely on, while boosting jobs and growth at home.   

    This Government continues to work swiftly to develop the new Defence Industrial Strategy. This announcement will support hundreds of highly skilled jobs, unlocking defence as an engine for growth and driving forward this government’s Plan for Change.

    Borealis will enhance the UK’s ability to monitor and protect crucial space assets, which underpin the UK’s security and prosperity, enabling us to navigate the oceans, keep our military personnel safe, monitor the climate, and forecast the weather.    Other key benefits which Borealis provides includes:  

    • Space Domain Awareness: The ability to understand and analyse what is happening in space around the Earth. This includes space weather – the environmental conditions in space around Earth – and monitoring objects in space, including space debris and active satellites.   

    • Protection of UK space assets: Borealis will provide a single, bespoke system, which will compile all data related to UK satellites. This enhanced awareness of what is happening in space will enable UK Space Command to better protect critical UK space systems.   

    • Integrated C2 System: Borealis will provide timely decision-quality information to government and military commanders through an interoperable system, across different tiers of security classification.  

    Maj Gen Paul Tedman, Commander of UK Space Command, said:  

    The use of space is crucial for our economy, prosperity, security, and defence, but assured access to space is becoming increasingly contested by adversaries and congested by users and debris. Therefore, it is imperative that we know what is happening in space.    

    Borealis is an innovative system that draws together multiple inputs to enhance the UK government’s understanding of the wide-ranging activity on orbit, allowing the UK to protect not just our own space assets, but those of our allies and partners as well.

    CGI is one of the world’s leading providers of independent IT services to international defence customers including the UK, Australia, Canada and the USA. CGI will work alongside a network of partner organisations hand-picked for their expertise to deliver the programme.    

    Neil Timms, Senior Vice President of Space, Defence & Intelligence UK & Australia at CGI said:  

    We’re proud to support UK Space Command and the UK Space Agency through delivery of BOREALIS. We believe this is a strategic step towards establishing a more holistic approach to the UK’s national space data architecture, with BOREALIS and the National Space Operations Centre (NSpOC) at its heart.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Polytechnic University and Rosatom focus on training personnel for the state corporation

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Representatives of the State Atomic Energy Corporation Rosatom, headed by Deputy Director General for Human Resources Tatyana Terentyeva, visited the Polytechnic University on a working visit. The company is interested in expanding cooperation with the Polytechnic in many areas, especially in the field of personnel training and employment of graduates at its enterprises. These topics were discussed at a meeting with the Polytechnic leadership and during an acquaintance with its research base.

    The visit began with a ceremonial presentation of Rosatom awards to the polytechnicians.

    “The Polytechnic University and the State Corporation Rosatom have developed not just business-like, but warm and friendly relations,” Vitaly Sergeev, First Vice-Rector of SPbPU, greeted the guests. “Of course, this is our strategic partner, with whom we work in many areas, both scientific and educational. And it is especially pleasant to begin our meeting with the ceremonial part, with the presentation of awards from the state corporation.”

    Before the ceremony, Tatyana Terentyeva addressed the Polytechnic representatives: Rosatom is a global participant in the world energy market. We have big common tasks – both the formation of fourth-generation nuclear energy, increasing the share of nuclear energy in Russia to 25 percent, and the preparation of the future nuclear elite for our international partners. So the program of our further strategic cooperation will be expanded.

    After welcoming remarks, Tatyana Anatolyevna presented awards to the Polytechnic University teachers and staff. For significant personal contribution to the development of international scientific and educational cooperation and training of personnel for the nuclear industry, the Director of the Higher School of Nuclear and Thermal Energy of the Institute of Power Engineering Alexander Kalyutik was awarded the 2nd degree “Academician I. V. Kurchatov” badge of distinction.

    Honorary certificates of the Rosatom State Corporation were awarded to: Vice-Rector for International Activities Dmitry Arsenyev, Director of the Higher School of Power Engineering of the Institute of Power Engineering Alena Aleshina, Associate Professor of the Higher School of Nuclear and Thermal Energy of the Institute of Power Engineering Irina Paramonova and Head of the International Education Department Evgeniya Satalkina.

    The following received gratitude from the Director General of Rosatom: Associate Professor of the Higher School of Nuclear and Thermal Energy of the Institute of Power Engineering Irina Anikin, Associate Professor of the Higher School of Technosphere Safety of the Civil Engineering Institute Anton Byzov, Associate Professor of the Higher School of Nuclear and Thermal Energy of the Institute of Power Engineering Yaroslav Vladimirov, Leading Specialist of the Higher School of Nuclear and Thermal Energy of the Institute of Power Engineering Natalia Donmez, Professor of the Higher School of Power Engineering of the Institute of Power Engineering Alexander Zharkovsky and Leading Specialist of the Higher School of Advanced Digital Technologies of the PIS “Digital Engineering” Maxim Konyushin.

    Having congratulated his colleagues on their well-deserved awards, Vitaly Sergeev proposed discussing further cooperation between the university and the state corporation, handing over the floor to vice-rectors Alexey Borovkov and Dmitry Arsenyev, as well as institute directors Anatoly Popovich and Viktor Barskov.

    Vice-Rector for Digital Transformation of SPbPU, Head of the Advanced Engineering School of SPbPU “Digital Engineering” Alexey Borovkov presented the results of cooperation with the State Corporation Rosatom. He noted the scale of cooperation, covering about 20 years, and highlighted the key achievements, events and developments implemented jointly with the corporation’s enterprises and organizations.

    The Rosatom State Corporation is a strategic partner of the Advanced Engineering School of SPbPU “Digital Engineering”. It is important to emphasize that out of 22 high-tech partner companies of the school, seven Rosatom divisions supported the creation and development of the SPbPU Advanced Engineering School program with letters of guarantee for co-financing at the start of the federal project, – noted Alexey Borovkov.

    Alexey Ivanovich also spoke about systemic interaction with Rosatom divisions. Joint projects with the corporation’s organizations and enterprises are aimed at solving urgent engineering problems of the nuclear industry and industry of Russia, training a new generation of engineers with world-class competencies, as well as developing scientific, technological and educational infrastructure.

    Every year, the structural divisions of the SPbPU Ecosystem of Technological Development carry out dozens of orders for Rosatom enterprises, including: Centrotech-Engineering, TVEL, TsKBM, NIKIET, NIIgrafit, PO Mayak, Prepreg-SKM, ITER-Center, Proryv, RFNC-VNIIEF, OKBM Afrikantov, etc. The total cost of the completed research and development work exceeds 660 million rubles.

    The speaker noted that training engineering personnel in the interests of Rosatom is one of the key areas of activity of the Advanced Engineering School of SPbPU “Digital Engineering”. As part of cooperation with the state corporation, the Advanced Engineering School of SPbPU implements educational programs aimed at developing students’ competencies that meet the modern challenges of the nuclear industry. Among the master’s programs created in the interests of the enterprises of the leading nuclear industry are “Digital Engineering in Nuclear and Fusion Energy” (program partners: JSC Atomstroyexport (management company of the engineering division of the State Corporation Rosatom), JSC NIKIET (an enterprise of the State Corporation Rosatom), A.F. Ioffe Physical-Technical Institute, Budker Institute of Nuclear Physics of the Siberian Branch of the Russian Academy of Sciences), “Digital Engineering of the Main Technological Equipment of Hydrogen Technologies and New-Generation Energy Systems” (program partner: JSC TsKBM, part of the mechanical engineering division of Rosatom), “System Digital Engineering in Nuclear Engineering” (program partner: TVEL Fuel Company of the State Corporation Rosatom).

    For students and engineers of the Advanced Engineering School of SPbPU “Digital Engineering”, a scientific and technological educational infrastructure is being actively created together with industrial partners of the nuclear industry: the “TVEL – SPbPU” space, the engineering center for the design of pumping equipment “TsKBM – Polytech”, the laboratories of “Polymer Composite Materials” (Composite Division of Rosatom) and complex developments of the main equipment of chemical-technological and energy systems of the new generation – in cooperation with JSC “TsKBM”. These initiatives allow students and young professionals to work on modern equipment, participate in real projects and research, and develop the skills necessary for successful work in high-tech industries.

    Vice-Rector for International Affairs Dmitry Arsenyev focused on the issues of training personnel for the energy sector of foreign countries. Polytechnic has been teaching foreign students for over 60 years. Currently, 5,000 people from 107 countries are studying in the main educational programs. Dmitry Germanovich noted that 54 educational programs relate to the profile of Rosatom, including 10 in English.

    “We started cooperating with Rosatom to train personnel for foreign countries in 2013,” said Dmitry Arsenyev. “The largest project is the graduation of specialists for the Turkish nuclear power plant Akkuyu Nuclear. From 2015 to 2023, we trained 96 people, including 72 masters. We actively participate in the state corporation’s programs for teaching the Russian language.”

    Dmitry Arsenyev noted the interesting train-the-trainers supplementary education program, which has already been completed by 63 people, mentioned winter and summer schools and presented the experience of the Polytechnic University as a coordinator Russian-African Network University.

    Dmitry Germanovich proposed to continue developing the train-the-trainers program, to intensify the targeted admission of foreign students to study at SPbPU through the State Corporation Rosatom, to create a representative office of SPbPU on the territory of ObninskTech to develop network interaction, to develop international educational programs for African countries taking into account the needs of Rosatom and to involve RAFU in their promotion.

    Director of the Institute of Mechanical Engineering, Materials and Transport Anatoly Popovich structured his report in such a way as to draw attention to the target setting for technological leadership.

    “When we talk about technological leadership, we must not forget that these are technologies of the future,” he emphasized. “We have chosen additive technologies. The Polytechnic University has created an end-to-end cycle – from obtaining powders to quality control of products. The Polytechnic University was the first of Russia’s technical universities to switch to low-tonnage, science-intensive production of complex objects.”

    Anatoly Anatolyevich named the main achievements of IMMiT in the field of additive technologies, presented the results of the implementation of technologies in combination with equipment, and spoke about what engineers manufacture according to orders from enterprises, including Rosatom. For example, in 2020, Polytechnic University won a mega-grant from Rosatom State Corporation to create new materials and products based on shape memory alloys with a controlled structure and piezoelectric ceramics using additive 4D technologies for the state corporation.

    The director of the Institute, Viktor Barskov, spoke about the interaction of the Institute of Power Engineering, the State Corporation Rosatom and the Rosenergoatom Concern. He listed the specialists and areas in which the Polytechnic prepares for the thermal and electric power industry, covering almost all the needs of the industry. At the same time, Viktor Valentinovich noted that there is a need to change the approach to the existing education model so that Rostec is properly represented in SPbPU.

    “For the modern education model, when we talk about engineers, designers, constructors, a special approach is needed. The labor market is overheated, if the enterprise wants to receive highly qualified personnel ready to work without additional retraining and investments, it is necessary to change the model of interaction with universities and students,” says Viktor Valentinovich. “We have a basic department of the Leningrad Nuclear Power Plant “Nuclear Energy”, it operates according to the old scheme: students do practical training at the Leningrad Nuclear Power Plant, and the company’s specialists give lectures at the university. However, now students are very demanding, it is necessary to have a close connection with the enterprise, so that familiarization with production begins not with practical training in the third year, but directly from school, so that already interested schoolchildren enter the Polytechnic. In addition to practical training and lectures, students from the first year must study in specialized classrooms, engage in creativity in coworkings, use the company’s software, that is, absorb information about it in the process of learning and student life. It is necessary to restart and reformat the basic department of “Nuclear Energy” so that work with students is carried out more intensively.”

    Viktor Barskov also proposed expanding scholarship programs.

    The speech was concluded by the head of the Rosatom student community at SPbPU, a 5th-year student majoring in Nuclear Reactors and Materials, Victoria Chernova. She said that their cell has 45 activists who work with schoolchildren and applicants, participate in fairs for first-year students and youth career forums, strategy sessions, and visit Rosatom enterprises. In 2025, they plan to participate in events dedicated to the 80th anniversary of the nuclear industry.

    In the TVN building of the Higher School of Nuclear and Thermal Energy, Rosatom representatives visited the branded information space of Rosenergoatom Concern (LNPP) and the software and hardware complex “Virtual Power Unit of the NPP”, which will be launched into the educational process in September. The simulator was developed by Atomenergoproekt, it can be used to simulate various operating modes of the power unit, including emergency ones, and to perform calculations for scientific research.

    The guests got acquainted with the capabilities of some advanced spaces of the SPbPU PISh “Digital Engineering”. Tatyana Terentyeva talked to students who are working on projects in the interests of the Fuel Division inscientific and technological educational space “TVEL – SPbPU”.

    In addition, Tatyana Anatolyevna visited laboratory for integrated development of basic equipment for chemical-technological and energy systems new generation, the opening of which took place on February 25, 2025 with the participation of representatives of JSC TsKBM.

    The creation of advanced scientific and technological platforms in cooperation with Rosatom enterprises is an important step in training personnel for the nuclear industry. We see how students and young specialists are actively involved in solving complex problems, which allows them not only to gain knowledge, but also to immediately apply it in practice, – emphasized Tatyana Terentyeva.

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

    MIL OSI Russia News –

  • MIL-OSI Europe: Academic freedom and democracy under siege: how a Nobel peace prize could help defend them

    Source: Universities – Science Po in English

    Echoing the Stand Up for Science movement, which was organised in the US to defend academic freedom, a call to mobilise in France has been launched for Friday, 7 March. Conferences, rallies and marches are being organised on the initiative of scientists united under the banner of Stand Up for Science France. Sciences Po, along with its partner The Conversation, has been committed from the outset to supporting those who advance research.

    March 7 has been recognized as the “Day of the Stand Up for Science Movement”, launched in 2017 in response to the anti-science actions of the first Trump administration. Under the second, attacks on scientists and scientific inquiry have escalated into a systematic assault–tantamount to a coup d’Etat against science itself.

    While Donald Trump is often portrayed as erratic, his policies in this area have followed a consistent trajectory. His new administration has once again declared ‘war’ on evidence-based national policymaking and science diplomacy in foreign affairs as evidenced by several early actions. Immediately after taking office, Donald Trump issued executive orders freezing or canceling tens of billions in research funding. All National Science Foundation projects have been halted pending review, while the National Institutes of Health faces suspensions under Health and Human Services directives. The US has withdrawn from the Paris Agreement and the World Health Organization, alongside a sweeping review of 90% of USAID-funded projects, signaling a major retreat from climate and global health diplomacy. Federal agencies and universities are in turmoil, leaving thousands of research-professors in limbo amid a politically driven funding freeze. The 2025 March simply calls for the restoration of federal research funding and an end to government censorship and political interference in science.

    The US is the world’s undisputed scientific superpower–for now

    While the Trump administration is not the sole force undermining academia worldwide, its actions are particularly striking coming from the world’s leading scientific superpower. Moreover, the situation is especially concerning because developments in the United States often have a ripple effect, shaping policies in other regions in the years that follow.

    Neither of the world’s top two scientific superpowers–Washington and Beijing–is positioned to champion academic freedom. China, having failed a liberal constitutional tradition and academic independence since the 1920s, restricts academic freedom to the confines of one-party rule. Caught between these rival scientific giants–both partners and competitors–the “old” Europe and like-minded coutries remain the only actors capable of setting new standards for academic freedom.

    A Nobel prize for academic freedom

    A decisive step toward its legal protection would be formal recognition by the Nobel Committees for Peace and Science of academic freedom’s fundamental role–both in ensuring scientific excellence and as a pillar of free, democratic societies.

    For the past decade, the Scholars at Risk association (SAR) has documented a broader global decline in academic freedom in its annual Free to Think Report. The 2024 edition highlights particularly alarming situations in 18 countries and territories (including the United States), which recorded 391 attacks on scholars, students, or institutions across 51 regions in a year. Data from the Academic Freedom Index in Berlin confirm that more than half of the world’s population lives in regions where academic freedom is either entirely or severely restricted. Some of the most concerning conditions are in emerging scientific ecosystems such as Turkey, Brazil, Egypt, South Africa, or Saudi Arabia. The overall trend is deteriorating: only 10 out of 179 countries have improved, while many democratic regimes are increasingly affected.

    Academic freedom in the European Union remains relatively high compared to the rest of the world. However, nine EU member states fall below the regional average, and in eight of them, it has declined over the past decade–signaling a gradual erosion of this fundamental value. Hungary ranks the lowest among EU countries, placing in the bottom 20–30% worldwide. Recent laws have further weakened university autonomy across the EU: financial autonomy in Austria, Italy, Luxembourg, the Netherlands, and Slovakia; organizational autonomy in Slovenia, Estonia, and Denmark; staffing autonomy in Croatia and Slovakia; and academic autonomy in Denmark and Estonia. Moreover, the European Parliament’s first report on academic freedom (2023) highlights emerging threats in France–political, educational, and societal–that impact the freedom of research, teaching, and study.

    Academic freedom, a professional right granted to a few for the benefit of all

    Freedom of expression, a fundamental pillar of academic freedom, has long been established as a human right, overcoming centuries of censorship and authoritarian control. In contrast, academic freedom is a more recent principle, granting scholars–recognized by their peers–the right and responsibility to research and teach freely in pursuit of knowledge. Like press freedom for journalists, it is a right granted to a few for the benefit of all.

    Rooted in medieval Europe, academic freedom has evolved from a privilege granted to students in the Quartier Latin to a recognized principle in international rights frameworks. It gained a collective and concrete dimension in the late 18th and early 19th centuries with the rise of the modern university. Wilhelm von Humboldt, founder of the modern public university in Berlin (1810), articulated the concept of ‘freedom of science’ (Wissenschaftsfreiheit), later enshrined in the Weimar Constitution of 1919, which declared that “art, science, and education are free.” The rise of American universities around the same time reshaped the concept, giving rise to “professional academic freedom.” This was formalized in the American Association of University Professors’ 1915 Declaration of Principles on Academic Freedom and Tenure, which affirmed the scholar’s primary duty to seek and establish truth. Though its roots lie in Germany, academic freedom ultimately became a cornerstone of American academic discourse.

    In the United States, academic freedom draws from multiple sources, with its protection varying by state laws, customs, institutional practices, and the status of higher education institutions. However, U.S. Supreme Court rulings have gradually reinforced its constitutional foundation, particularly after the McCarthy era, by invoking the First Amendment. Landmark cases such as Adler v. Board of Education (1952), Wieman v. Updegraff (1952), and Sweezy v. New Hampshire (1957) helped establish a constitutional doctrine on academic freedom. Finally, Keyishian v. Board of Regents (1967) extended First Amendment protections to academia, ruling that mandatory loyalty oaths violated both academic freedom and freedom of association.

    Interestingly, the American interpretation of academic freedom is currently more restrictive than the German model in certain respects. Article 5(3) of the 1989 Basic Law affirms the “right to adopt public organizational measures essential to protect a space of freedom, fostering independent scientific activity”. In contrast, the U.S. places greater emphasis on prohibitions and prioritizing individual rights over institutional autonomy.

    The ‘right to be wrong’

    Despite local variations, academic freedom is fundamentally tied to a shared vision of the university that upholds freedom of thought, with rationality and pluralism at its core. It includes the genuine “right to be wrong”–the understanding that a scientific opinion may be incorrect or even proven so does not diminish its protection. This stands in stark contrast to the anti-science, scientistic, or techno-nationalist approach, which views knowledge as a tool of power to serve a predetermined truth and objective of dominance. Authoritarian science, driven by power interests, seeks to diminish critical humanities and social sciences while elevating religion. It tends to reject interdisciplinary work, is exclusively mathematized, and is oriented toward a centralized yet deregulated autocratic tech-utopian state model.

    Since 1945, we have operated under the illusion that academic freedom is an indispensable condition for scientific excellence. However, we have recently learned that no systematic link exists between academic freedom and breakthrough scientific innovation in our era of new technologies. Given these circumstances, this proposal advocates for a nomination for the Nobel Peace Prize, for the first time in its history, in recognition of academic freedom.

    The Nobel Prize Committees for Science and Peace share the responsibility of using their prestigious platforms to uphold fundamental scientific and democratic values. They are uniquely positioned to champion humanist science, reinforcing its importance for scholars, students, and civil societies worldwide. Since the 1950s, around 90% of Nobel Prize laureates in scientific fields have either been US citizens or have studied and worked at Ivy League research institutions.

    While some US scientists are contesting actions of the Trump administration in court, academics worldwide should stand in solidarity with their American colleagues in resisting the erosion of science. To strengthen their efforts, they require the support of the Nobel Prize Committees.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: UKAEA and Eni partner to develop tritium fuel cycle facility

    Source: United Kingdom – Executive Government & Departments

    Press release

    UKAEA and Eni partner to develop tritium fuel cycle facility

    Eni and UKAEA launch a research and technological development collaboration for innovative solutions in the field of fusion energy.

    Image Credit: United Kingdom Atomic Energy Authority

    The United Kingdom Atomic Energy Authority (UKAEA), the UK’s national organisation responsible for the research and delivery of sustainable fusion energy, and Eni, have entered into a collaboration agreement to jointly conduct research and development activities in the field of fusion energy. The collaboration primary starts with the construction of the world’s largest and most advanced tritium fuel cycle facility, a vital fuel for future fusion power stations. The “UKAEA-Eni H3AT (pronounced ‘heat’) Tritium Loop Facility”, located at Culham Campus will be complete in 2028.

    Image credit: United Kingdom Atomic Energy Authority

    Tritium recovery and re-use will play a fundamental role in the supply and generation of the fuel in future fusion power plants and will be crucial in making the technology increasingly efficient.

    Fusion is a form of energy whereby the power of the Sun is replicated on Earth. The fusion process sees two hydrogen isotopes fuse together under intense heat and pressure to form a helium atom, releasing large amounts of emissions-free energy through a safe, cleaner and virtually inexhaustible process.

    Fusion energy could be transformational to contribute to energy security and decarbonisation.

    The “UKAEA-Eni H3AT Tritium Loop Facility” is designed to serve as a world-class facility providing industry and academia the opportunity to study how to process, store and recycle tritium.

    UKAEA and Eni will collaborate to develop advanced technological solutions in fusion energy and related technologies, including skills transfer initiatives. 

    Eni will contribute to the H3AT project with its expertise in managing and developing large-scale projects, helping to de-risk its roadmap. This partnership combines UKAEA’s extensive expertise in fusion research and development with Eni’s established industrial-scale capabilities in plant engineering, commissioning, and operations.

    UK Climate Minister, Kerry McCarthy, said:

    We are proud to be at the forefront of global innovation in clean energy fusion technologies, and this collaboration with Eni marks a significant step towards unlocking the potential of fusion energy, supporting our missions for economic growth, clean power and energy independence.

    The UKAEA-Eni H3AT Tritium Loop Facility will not only position the UK as a leader in the development of fusion fuel technologies but also accelerate progress towards a future of safe, sustainable, and abundant clean energy.

    Professor Sir Ian Chapman, CEO of UKAEA, said:

    We are delighted to be working with Eni who have shown great commitment to fusion. We believe that fusion energy can contribute to a net zero future, including going beyond the decarbonisation of electricity.

    The H3AT demonstration plant will set a new benchmark as the largest and most advanced tritium fuel cycle facility in the world, paving the way for innovative offerings in fusion fuel and demonstrating the UK’s leadership in this crucial area of research and development.

    Claudio Descalzi, Eni CEO said:

    Fusion energy is meant to revolutionise the global energy transition path, accelerating the decarbonisation of our economic and industrial systems, helping to spread access to energy, and reducing energy dependency ties within a more equitable transition framework. Eni is strongly committed to various areas of research and development of this complex technology, in which it has always firmly believed. Today with our UK partners we are laying the foundations for further progress towards the goal of fusion which—if we consider its enormous scope of technological innovation—is increasingly concrete and not so far off in time. To continue this virtuous development, international system-level technological partnerships like this one are indispensable.

    Eni supports a socially fair energy transition with the aim of promoting efficient and progressively more sustainable access to energy resources. Eni places innovation at the centre of its strategic vision and it has transformed the businesses by investing significantly in research, development, and the implementation of technologies to progressively decarbonising its energy mix and achieving carbon neutrality by 2050. 

    UKAEA’s mission is to lead the delivery of sustainable fusion energy and maximise the scientific and economic benefit. It aims to solve the challenges of this new energy source, from design through to decommissioning with world-leading science and engineering. UKAEA enables partners to design, deliver, and operate commercial fusion power plants around the globe and fosters the creation of clusters that accelerate innovation and help drive economic growth.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: “I see a great need for organizations that support businesses in Russia and China”

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Photo from personal archive

    Anastas Karagadayev, graduate Institute for Statistical Research and Economics of Knowledge HSE, achieved high results in his career path while still a student. At that time, he took an active part in the activities Science and Technology Research Laboratories ISSEK and founded his own startup, and is currently working on developing projects within the framework of the Russian-Chinese Center for Innovation Cooperation in Nanjing.

    Anastas Karagadayev told the news service “HSE.Glavnoe” about his current and past projects, his studies at HSE, and also gave advice to all students of the university.

    About working at the Center for Innovative Cooperation

    — Our center is engaged in supporting joint projects of Russia and China. We work with business organizations, startups, as well as with scientific and educational projects, universities. We work with Chinese organizations at their request, if something needs to be done in Russia, for example, to find a partner or develop a project, as well as with Russian organizations in China. About the latest projects, I can say that we helped several Russian startups enter the Chinese market, actively help young entrepreneurs from Russia develop their projects in China and work with Russian universities, for example, with MISiS.

    I am learning Chinese, it turned out to be much more difficult than I thought, and so far there is progress, but not so much that I can speak Chinese fluently. I am very happy with the development of my career, my choice. There are also many difficulties. For example, there is a cultural barrier. We are different nations, we have our own cultural concepts, a language barrier and many other things, traditions that are difficult for us to understand right away due to differences in mentality.

    About Vyshka

    — I apply almost all of my university knowledge in my work one way or another. I found the educational materials, the projects we carried out, and the experience of intercultural communication very useful. In this regard, HSE gave me a lot. My program was entirely in English, with a more international focus. They taught innovation management and policy in this area, how to organize work with innovations, science, and technology in a particular country. I liked my program, the materials, the teachers, everything turned out to be very relevant.

    About work in the Laboratory of Science and Technology Research of ISSEK

    — Since my program included extensive research activities, at some point I became very interested in it all, especially my master’s thesis, I put a lot of effort into it. In parallel with my studies, I started working at the department, there was a task related to artificial intelligence, it was necessary to develop a classification of technologies. We had the widest possible circle of partners. It was interesting, we achieved certain successes.

    About Tertiarm startup

    — The startup was in the field of robotics, it was an educational robot — so that schoolchildren could build their own robot in class or in extracurricular activities, program it and thereby learn robotics, engineering. This idea was born from my own hobbies: even as a child I liked robotics, I participated in various Olympiads, competitions, built something myself. And then I lacked exactly this kind of product, this kind of robot.

    Several of my classmates and I had the same line of thought, they were also interested in children’s robotics. And we decided to try our hand at developing this idea within the framework of such a startup project. I helped define the vision of the project, develop it, received grants, applied to accelerators, and two of my friends were engaged in the technical part and the educational program. For three years, we have been actively developing the project in Russia: we have several prototypes of the robot itself, and we have released an online course. At the moment, the project is frozen, the course can still be found on the Internet, about 1,300 people are taking it online, but the robot itself and further development of the project are on hold.

    Advice to HSE students

    — Participate in activities as often as possible and meet as many different people as possible, be interested in them and what they do, not immediately with some goal, but simply to make new friends, acquaintances. This opened up many opportunities for me.

    About plans for the future

    — For now, I will continue to develop in the current vector, because I see a great need for organizations that support businesses in Russia and China. Organizations of these two countries interact a lot, but it often happens that some kind of push is needed for this, or help, or just some kind of constant support. Russia and China, it seems to me, can interact very well. They are already actively doing this, but in the future they can only build up and strengthen our friendship and mutually beneficial partnership.

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: New evidence reveals that all Londoners are now breathing cleaner air following the first year of the expanded Ultra Low Emission Zone (ULEZ)

    Source: Mayor of London

    1. Roadside Nitrogen Dioxide (NO2) levels, a toxic gas that exacerbates asthma, impedes lung development, and raises the risk of lung cancer, have decreased by a record 27% across the entire capital [1].
    2. Particle emissions (PM 2.5) from vehicle exhausts, are 31% lower in outer London in 2024 than they would have been without the ULEZ expansion. [2]
    3. The environmental impact of ULEZ has been substantial, with carbon emissions equivalent to nearly three million one-way passenger trips between Heathrow and New York saved [3]
    4. Air quality has improved at 99% of air quality monitoring sites across London since 2019, and London’s air quality is improving at a faster rate than the rest of England [4, 5]

    In London, around 4,000 premature deaths per year were previously attributed to toxic air [6]. Air pollution increases the risk of developing asthma, lung cancer, heart disease and stroke, and there is growing evidence that air pollution exposure increases the risk of developing dementia [7]. 

    In April 2019, the Mayor of London launched the world’s first 24-hour Ultra Low Emission Zone (ULEZ) in central London. The zone was expanded across inner London in 2021, and finally to cover the whole capital In August 2023, bringing the air quality and associated health benefits to the five million people living in outer London.

    A new City Hall report, extensively reviewed by an independent advisory group of experts* shows that the ULEZ has led to substantial improvements in air quality in outer London and across the capital. [1]

    Particle emissions (PM2.5) from vehicle exhausts are estimated to be 31% lower in outer London in 2024 than they would have been without the ULEZ expansion. Alongside NO2 and PM2.5 reductions, NOx (Nitrogen Oxides) emissions from cars and vans are also estimated to be 14 per cent lower in outer London. [2]

    The biggest reductions in NO2 levels have been in central London (54%) but there have also been substantial reductions in inner London (29%) and outer London (24%) [1].

    The boroughs that have seen the biggest reductions in NOx emissions due to the ULEZ expansion are Sutton, Merton, Croydon, Harrow and Bromley, where harmful emissions are estimated to be around 15 per cent lower in 2024 than would be expected without the expansion to outer London, which covers a large area of around 1250km2.

    Thanks to all phases of the ULEZ, NOx emissions from road transport are estimated to be 36 per cent lower across London in 2024, a saving of around 3400 tonnes – the equivalent of approximately one year of emissions from all passenger car trips in Los Angeles [8]. 

    The report also shows that the ULEZ has led to savings in carbon emissions.

    Cumulatively between 2019 and 2024, the equivalent of nearly three million one-way passenger trips between Heathrow and New York has been saved in carbon due to ULEZ as a whole [3]. 

    Deprived communities are seeing some of the biggest benefits. For some of the most deprived communities living near London’s busiest roads, there was an estimated 80 per cent reduction in people exposed to illegal levels of pollution in 2023 – this increases to 82 per cent in outer London, compared to a scenario without the ULEZ [9]. 

    Data from the report [2], alongside independent analysis [10] has found that the ULEZ expansion has not impacted footfall or retail and leisure spending in either outer London or London as a whole [8]. Visitor footfall in outer London increased by almost 2 per cent in the year after the London-wide ULEZ expansion.

    The Mayor of London, Sadiq Khan, said: “When I was first elected, evidence showed it would take 193 years to bring London’s air pollution within legal limits if the current efforts continued. However, due to our transformative policies we are now close to achieving it this year. Today’s report shows that ULEZ works, driving down levels of pollution, taking old polluting cars off our roads and bringing cleaner air to millions more Londoners. 

    “The decision to expand the ULEZ was not something I took lightly, but this report shows it was the right one for the health of all Londoners. It has been crucial to protect the health of Londoners, support children’s lung growth, and reduce the risk of people developing asthma, lung cancer and a host of other health issues related to air pollution.   

    “With boroughs in outer London seeing some of the biggest reductions in harmful emissions and London’s deprived communities also seeing greater benefits, this report shows why expanding ULEZ London-wide was so important. 

    “Thanks to ULEZ and our other policies, all Londoners are now breathing substantially cleaner air – but there is still more to do, and I promise to keep taking action as we build a greener, fairer London for everyone.”    

    TfL data also shows that Londoners have continued to upgrade their vehicles to cleaner models with 96.7 per cent of vehicles seen driving in London now ULEZ compliant, up from 91.6 per cent in June 2023 and 39 per cent in February 2017, when changes associated with the ULEZ began. Van compliance in outer London is over 90 per cent for the first time (90.7 per cent). In February 2017, just 12 per cent of vans met the ULEZ standards, demonstrating the schemes’ impact on reducing the number of more polluting older vans driving in London. [2]

    The data also shows there were nearly 100,000 fewer non-compliant vehicles detected in London on an average day in September 2024 compared to June 2023, when the Mayor announced his plans to extend the ULEZ to outer London – a 58 per cent reduction in non-compliant vehicles. This has been aided by the Mayor’s scrappage scheme, which provided around £200m to support Londoners to switch to cleaner vehicles. The scrappage schemes that supported the introduction of the ULEZ to central London, and the expansion to inner London, were successful in removing 15,232 older and more polluting vehicles from London’s roads. Over 54,700 further applications were approved before the scheme closed in September 2024, including over 400 vehicles donated to humanitarian and medical efforts in Ukraine. A ULEZ scrappage scheme evaluation report to be published shortly will set out the full impact of the scheme, including the total numbers of vehicles scrapped, replaced and donated. 

    The ULEZ is the centrepiece of a range of measures the Mayor and TfL is implementing to tackle London’s toxic air, including putting a record number of 1900 zero-emission buses on the roads. Since 2019, air quality has improved in 99 per cent of air quality monitoring sites included in the analysis (8) across London, thanks to these measures and wider transport policies, with 80 per cent of monitoring locations showing average NO2 concentration reductions of more than 10 µg/m3, which is a quarter of the legally permitted annual NO2 concentration.   

    London’s air quality is improving at a faster rate compared to the rest of England (2017-2024). This is particularly notable in outer London where concentrations have improved more rapidly over recent years and are now similar to the rest of England average, which has historically been lower than London [9].  

    Dr Maria Neira, Director, Department of Environment, Climate Change and Health at the World Health Organization: “Improving air quality through initiatives like the Ultra Low Emission Zone in London is crucial for protecting public health and reducing the burden of disease. Cleaner air leads to healthier communities, lower rates of respiratory and cardiovascular illnesses, and a better quality of life for all residents. The World Health Organization commends the efforts of cities like London in implementing measures to reduce emissions from vehicles and improve air quality, which ultimately contribute to a healthier and more sustainable urban environment.”

    Anne Hidalgo, Mayor of Paris, said: “Reducing car traffic is one of our greatest opportunities to address the climate emergency. Under the leadership of Mayor Khan, London is showing us what safer, healthier, and greener communities look like, and the results of London’s clean air zone speaks for itself. I commend Mayor Khan for his commitment, leadership and vision to addressing the climate crisis and protecting the lives and health of city residents. London is demonstrating once again that cities lead the fight against climate change.”

    Rosamund Adoo-Kissi-Debrah CBE, Global Heath Advocate and Founder of the Ella Roberta Foundation said: “I am delighted that the latest analysis since the expansion of ULEZ to outer London shows that air pollution has reduced.  My daughter Ella died from emissions from the South Circular Road close to where we live, and I will not stop until everyone in London can breathe safe, clean air, regardless of where they live in the city.  People’s health, particularly children’s, should always be prioritised by society, and I look forward to hearing what further plans the Mayor has to continue to clean up the air for all Londoners.  ULEZ was an important step, but there is so much more to do, and I will ensure that politicians and decision-makers are held to account, and do all they can to protect people’s health and clean up the air we breathe.”

    Christina Calderato, TfL’s Director of Strategy, said: “Bold and ambitious environmental schemes like the ULEZ are pivotal to making tangible long-term air quality improvements to tackle a public health crisis, as shown in this new report. Everyone in the capital is now breathing cleaner air because of ULEZ. Harmful NO2 concentrations are 27 per cent lower across the city than if there had been no ULEZ. There’s less PM2.5 exhaust emissions and NOx pollutants from cars and vans in outer London – an even greater reduction than reported in the first six months of ULEZ showing the continued success of the scheme.  

    “It is great to see it making a real difference to the air Londoners breathe, and together with our efforts to decarbonise the public transport network, will see generations to come reaping the benefits of a greener, cleaner London.” 

    Dr Gary Fuller, Imperial College London, and Chair of the ULEZ Advisory Group, said: “Each phase of the ULEZ has led to clear improvements in the air pollution next to London’s roads. This is good news for the current and future health of Londoners, as well as those who travel to London for work or leisure.   

    “The analysis in this report benefited from an international advisory group of scientists, all with experience in assessing the impacts of urban clean air policies. We worked with the Mayor’s team to stress-test key parts of the analysis and concluded that the core methodology used in this report, and in previous ULEZ reports, was appropriate and robust. The ULEZ is one of over 300 such schemes across the UK and Europe, and many cities are looking to London’s ULEZ results to inform their own plan.”

    Jemima Hartshorn, Director, Mums for Lungs said: “Today is a good day for children, and all of us: Air pollution has been reduced due to the pioneering measures of our Mayor and we are so glad about that. But air pollution across the country and even London remains too high. Hopefully, the national Government will learn from this success and support Mayors and councils in stopping pollution from diesel and wood burning making us sick.”

    Larissa Lockwood, Director of Policy and Campaigns at Global Action Plan said: “Clean air is a health and social justice issue. This report shows that bold, pro-environment policies can be successful – both in terms of health benefits and electoral success. We celebrate the air quality improvements from ULEZ, urge the Mayor to continue cleaning up the air in London and hope that other political leaders across the UK and the world will be inspired to implement bold measures to tackle air pollution.”

    Izzy Romilly, Sustainable Transport Manager at Possible said: “The largest clean air zone in the world has been a triumph. We’ve slashed pollution, and we’ve protected the lungs of the most vulnerable Londoners, with the biggest benefits being felt in areas of highest deprivation. Now, national government and leaders around the world should learn the lessons of ULEZ and show the same ambition to clean up toxic air. Here in London, these findings should give the Mayor the courage to go further and faster on tackling harmful emissions. We need to see more action on transport and traffic, a serious tax on SUVs, and a diesel phase out by 2030.”

    Jane Burston, CEO at Clean Air Fund said: “The new data shows how the ULEZ is making a real difference to the quality of the air Londoners breathe. It’s especially encouraging to see that the communities living near the busiest roads are seeing substantial benefits one year on. London’s progress provides an inspiring blueprint for others, including those in our Breathe Cities initiative, by showing how tackling air pollution can improve lives, boost public health and address the climate crisis.”

    Barbara Stoll, Senior Director at Clean Cities Campaign said: “Despite fierce opposition – even from the government of the time – the Mayor stood firm, and the results speak for themselves. The ULEZ shows that when city leaders have vision and determination, they can reduce inequities and transform urban life for the better. We urge the Mayor to continue his leadership in championing healthy, climate-friendly transport and to stay committed to making London the world’s first truly electric-vehicle-ready global city.”

    Michael Solomon Williams from Campaign for Better Transport said: “This report shows that clean air zones work and other cities should take encouragement from London’s experience. Reducing the harmful effects of road transport and ensuring there are good public transport, walking and cycling options are key to creating healthier, happier communities.”

    Livi Elsmore, Campaign Manager, Healthy Air Coalition said: “Over a year on from the expansion of the Ultra Low Emission Zone (ULEZ) in London, we are delighted to see significant progress made in cleaning up the capital’s air to protect the health of everyone who lives and works in the capital, and future generations of Londoners.

    “Contributing to as many as 4,000 deaths each year in London, air pollution poses the greatest environmental threat to our health. Measures like the ULEZ are among the most effective tools we have to tackle toxic air and protect public health.

    “And the impact of ULEZ is now clear: toxic nitrogen dioxide emissions are 27% lower than they would be without the scheme.

    “We call on the Mayor of London to continue showing leadership through building a pathway for London to meet the air pollution levels recommended by the WHO, meet London’s transport targets, and take concerted action on unnecessary wood burning in the capital.”

    Henry Gregg, Director of External Affairs, Asthma + Lung UK said: “A year on it’s great to see the ULEZ expansion is having a positive impact on improving the capital’s air quality and helping protect the lung health of millions of people, every day. Expanding ULEZ reduced the number of polluting vehicles on the road and is helping every Londoner, regardless of age, ethnicity or background, breathe cleaner air. Air pollution is a public health emergency that affects us all – particularly the estimated 585,000 people in Greater London who have asthma or Chronic Obstructive Pulmonary Disease (COPD). Air pollution can worsen the symptoms of people with existing lung conditions, such as breathlessness, wheezing and coughing, and potentially lead to life-threating asthma attacks or serious flare-ups. In some cases it can lead to hospitalisation and even death – up to 4,000 early deaths a year in the capital are linked to air pollution. Unfairly, it is often those living in the most deprived communities who are affected the most by breathing in toxic air. There are no safe levels of air pollution and the government must commit to an ambitious Clean Air Act, which could protect people, wherever they live, from the dangers of polluted air.”

    Yvonne Aki-Sawyerr OBE, Mayor of Freetown and Co-Chair of C40 Cities: “Clean air is not a privilege, it’s a fundamental right. The success of London’s clean air zone serves as a powerful testament to the impact of bold action in protecting public health, especially for our most vulnerable communities. As his fellow Co-Chair of C40 Cities, I am proud to stand alongside him, and I urge leaders everywhere to take note of these transformative policies.”

    Giuseppe Sala, Mayor of Milan: “The impact of London’s clean air zone is clear: better air, fewer emissions, and a healthier future for all Londoners. Milan supports and celebrates this achievement, as we work on similar policies to protect the health of our residents and make our cities greener and more liveable for all.” 

    Martin Lutz, formerly Berlin City Government, and member of the ULEZ Advisory Group, said: “With the latest step of extending the ULEZ to the whole city, London has set a global benchmark for how access restrictions for high emission vehicles can effectively reduce air pollution from cars.    

    “This one year report makes a very strong case for the success and health benefits of the ULEZ for Londoners, thanks to the wealth of data and measurements that have been painstakingly collected over the years of the zone’s gradual expansion.”   

    Ludo Vandenthoren, Mutualités Libres (a Belgian mutual health insurance firm), and member of the ULEZ Advisory Group, said: “It was an honour to work on this project alongside experts in the field. The GLA and TfL, with their commitment to the citizens of London, demonstrated great receptiveness to the feedback we provided. We were able to contribute information on the socio-economic aspects and health effects of air quality, offer input on the statistical methodology specific to this topic, and share valuable references for their reports. I am particularly proud that the study from the Belgian Independent Health Insurance Funds on air quality is seen as an inspiring model for their own approach. The London ULEZ is an ambitious initiative that will undoubtedly inspire other cities.”  

    Professor David Carslaw, University of York, and member of the ULEZ Advisory Group, said: “This report represents a detailed evaluation of the emissions and air quality impacts of the London ULEZ. London and its surrounding areas are fortunate in having one of the world’s most comprehensive air quality networks, which provides a strong basis for the evaluation of the air quality impacts of the ULEZ as it has expanded in recent years. The results show the benefits of the ULEZ are widely distributed and have accelerated the improvement in London’s air quality.”  

    Dr Chinthika Piyasena, Consultant Neonatologist in London said: “As a Londoner and clinician, I’ve long advocated for bold action on air pollution because the science is clear: toxic air harms babies before they even take their first breath. Nitrogen dioxide exposure has been linked to an increased risk of stillbirth, babies being born too early or too small, and even impacts brain development. So a year after the full expansion of ULEZ, it’s incredible to see real progress in reducing this pollutant. Every step we take towards cleaner air, is a step toward healthier pregnancies, healthier babies and a healthier future for all Londoners.”   

    Simon Birkett, Founder and Director of Clean Air in London said: “I have campaigned for low emission zones since April 2006 – almost two years before the first phase was implemented in London. I was also the first to call for an inner London low emission zone. It is particularly pleasing therefore that the Mayor’s One-Year report on ULEZ expansion – the ninth phase of low and ultra-low emission zones in London – has shown again that these big solutions work. In fact, together with related measures such as cleaner buses and taxis, they have almost single handedly helped London to slash nitrogen dioxide (“NO2”) concentrations by 2/3 near busy roads, and nearly comply with legal limits and the WHO’s 2005 air quality guideline of 40 micrograms per cubic metre (“mg/m3”) by 2025, probably ahead of smaller UK cities.” 

    Professor Kevin Fenton, London Regional Director, Office for Health Improvement and Disparities and Regional Director of Public Health, NHS London said: “As well as reducing air pollution in outer London, this report also shows that ULEZ and its expansions continue to have a positive impact on air quality across the city. Londoners are now benefiting from improved air quality, and this is particularly true for those communities who live in more deprived areas of London.  

    “In a city where over 480,000 Londoners have a diagnosis of asthma and are more vulnerable to the impacts of air pollution, a 27% reduction in harmful roadside NO2 concentrations across the whole city will bring about invaluable health benefits. And I’m optimistic that Londoners will continue to benefit from better air quality, and subsequently, better health, due to the ULEZ and its expansions.”

    Chris Streather, Medical Director and Chief Clinical Information Officer, NHS England London, said: “It’s encouraging to see that all Londoners have experienced a significant improvement in air quality, and this reduction in pollutants directly contributes to better health outcomes.

    “Vital initiatives like the ULEZ create a healthier urban environment, reducing the risks of respiratory conditions such as asthma and lung cancer, and ultimately lessen the burden on our health system.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Military Satellite SKYNET 6A passes initial phase of testing

    Source: United Kingdom – Executive Government & Departments

    News story

    Military Satellite SKYNET 6A passes initial phase of testing

    The SKYNET 6 programme is working closely with industry to exploit technological advancements to deliver the next generation of military communication satellites.

    National Satellite Test Facility. MOD Crown copyright.

    SKYNET is the UK Ministry of Defence’s satellite communication (SATCOM) capability. It supports operations to deliver information to UK and allied forces around the world, enabling battlefield information advantage anywhere, anytime. 

    Representing the single largest government investment in the UK space industry, SKYNET 6 highlights the nation’s commitment to developing its space capabilities and is a programme co-sponsored by Strategic Command and UK Space Command. 

    The first of the SKYNET 6 assets, 6A, has reached a milestone with the completion of the initial phase of testing at the new UK-government funded National Satellite Test Facility (NSTF) in Harwell, Oxfordshire. The satellite will leverage the latest developments in digital processing and radio frequency spectrum utilisation, offering greater capacity and versatility than previous generations of SKYNET satellites. 

    The initial testing at the state-of-the-art UK facility ensured the satellite can withstand the harsh conditions of launch and space, including electromagnetic compatibility, extreme temperatures and vibrations. Further testing of the completed SKYNET 6A satellite will be conducted at the facility this year, with Airbus Defence, Space UK and the Science and Technology Facilities Council’s (STFC) RAL Space working closely together to guarantee the satellite’s long-term functionality and reliability once it’s launched into orbit. 

    NSTF acoustic chamber. MOD Crown copyright.

    Jason Gnaneswaran, Senior Responsible Owner for SKYNET 6, said:  

    The SKYNET 6 programme will ensure our deployed forces have world-leading communications abilities on demand, whether on the battlefield, onboard a ship, or in the air. 

    This milestone in testing is a huge achievement for the Ministry of Defence and RAL Space and is a crucial step in guaranteeing the delivery and long-term functionality of SKYNET 6a. 

    It also highlights the success of the broader SKYNET enterprise and the value of close collaboration with our industry and cross-government partners.

    Scheduled for launch in 2026, this cutting-edge satellite will be the first SKYNET military communications satellite to be entirely designed, built, and tested in the UK, marking a significant advancement for the nation’s space industry. It will be a critical asset for the UK’s armed forces and allies, providing secure and reliable communications for at least 15 years and supporting a wide range of military activities across all operational domains. 

    This project directly sustains 550 highly skilled jobs throughout the country, including in Stevenage, Corsham, and Portsmouth. Whilst the Harwell Campus is already home to over 100 local and international space organisations, the NSTF itself is expected to attract new businesses and investment to the UK space sector, further solidifying the country’s position as a leader in space technology.  

    SKYNET 6A’s testing campaign is a testament to the UK’s growing expertise in the space sector enabled by direct investment from the programme. 

    Dr Barbara Ghinelli, Director for the Science and Technology Facilities Council’s Innovation Clusters and for the Harwell Campus, said:  

    By supporting pioneering projects like SKYNET 6A, the facility is helping to accelerate the UK’s journey towards the commercialisation of space and further strengthening our clusters as global hubs for innovation.   

    Our unique combination of facilities and expertise supports businesses across the UK, and we are excited to enable more dual-use application of our capabilities through programmes like SKYNET 6 and the Regional Defence and Security Clusters.

    SKYNET continues to play a critical role in the UK’s military satellite communication infrastructure, supporting whole force integration which ensures the armed forces remain connected and informed wherever they operate.

    The National Satellite Test Facility at Harwell. MOD Crown copyright.

    Updates to this page

    Published 7 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI China: China’s government work report charts course for high-quality development

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

    BEIJING, March 6 — China’s government work report, unveiled Wednesday at this year’s annual session of the national legislature for deliberation, has garnered widespread attention from home and abroad.

    How did the world’s second-largest economy perform in the past year? What are its major development goals and policy directions for 2025? In the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, guest speakers shared insights on the nation’s commitment to achieving its growth target while advancing high-quality development.

    This photo shows the recording site of the 14th episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency. [Photo/Xinhua]

    STEADY PROGRESS AMID CHALLENGES

    China’s GDP expanded by 5 percent last year to 134.9 trillion yuan (about 18.8 trillion U.S. dollars) and contributed about 30 percent to global economic growth, according to the government work report.

    Huang Lianghao, an official with the Research Office of the State Council, described the achievements as “hard-won and extraordinary.”

    “China promoted growth within a reasonable range and effectively improved the quality of its economy,” noted Huang, also a member of the drafting group for the government work report, highlighting a 3.4-percent reduction in carbon emissions per GDP unit.

    “In 2024, China’s economy demonstrated resilience and the effectiveness of overall reform,” said national lawmaker Yuan Yuyu, chairman of Medprin Regenerative Medical Technologies Co., Ltd., a Guangzhou-based biotech firm.

    Employees are busy at a workshop of Galaxis Technology in Nanhu District of Jiaxing, east China’s Zhejiang Province, Feb. 25, 2025. [Photo/Xinhua]

    Last year, the number of newly established business entities in China exceeded 20 million.

    “The rapid development of enterprises vividly reflects the advancement of the country’s high-quality development and the steady growth of new quality productive forces,” noted Yuan.

    STRATEGIC REFORMS FOR SUSTAINED GROWTH

    As 2025 marks the final year of China’s 14th Five-Year Plan (2021-2025), experts believe that the around-5-percent growth target proposed in the government work report balances what is needed and what is possible.

    Huang emphasized the target’s alignment with employment stabilization, risk prevention, and the country’s development goals through 2035.

    A researcher works at the Advanced Attosecond Laser Infrastructure in Dongguan, south China’s Guangdong Province, Jan. 10, 2025. [Photo/Xinhua]

    “It not only demonstrates the government’s precise grasp of the general principle of pursuing progress while maintaining stability amid a complex economic environment, but also conveys a profound strategic consideration for medium- and long-term high-quality development,” said national political advisor Jin Li, vice president of Southern University of Science and Technology.

    Huang expressed confidence in China’s economic fundamentals despite external pressures, citing positive factors such as burgeoning technological breakthroughs and expanding domestic demand.

    Regarding employment, the report sets a goal of creating over 12 million new urban jobs and an around-5.5-percent surveyed urban unemployment rate. Huang underscored reforms in vocational training to address structural labor mismatches, while Jin stressed educational reforms to cultivate talent for emerging industries.

    A job seeker fills in personal information during a job fair held in Qingzhou City, east China’s Shandong Province, Feb. 11, 2025. [Photo/Xinhua]

    Yuan advocated for deeper industry-academia collaboration: “Universities hold talent resources while enterprises possess application scenarios. Bridging them will accelerate technological breakthroughs.”

    PEOPLE-CENTERED POLICY ORIENTATION

    More funds and resources will be used to serve the people and meet their needs, according to the government work report. China will raise the minimum basic old-age benefits for rural and non-working urban residents by 20 yuan and ensure an appropriate increase in the basic pension benefits for retirees. It will also continue to deepen the reform of public hospitals to better serve the public interest.

    Highlighting healthcare commitments, Yuan said as health has become increasingly significant to the people, companies have the responsibility to provide more innovative products, drugs and medical apparatus and lower the costs to meet the people’s needs.

    Teachers and parents play games with children at a kindergarten in Rizhao City, east China’s Shandong Province, Feb. 20, 2025. [Photo/Xinhua]

    The government also plans 300 billion yuan in ultra-long special treasury bonds to support consumer goods trade-in programs.

    “The concerns of the public are the key issues highlighted in the government work report. It proposes various measures to benefit the people and enhance their well-being,” said Huang.

    MIL OSI China News –

  • MIL-OSI: Alliance Witan PLC – Final Results

    Source: GlobeNewswire (MIL-OSI)

    Alliance Witan PLC (‘the Company’)
    LEI: 213800SZZD4E2IOZ9W55

    7 March 2025

    A landmark year

    Annual results for the year ended 31 December 2024

    Highlights

    • 2024 was a landmark year for the Company, which was promoted to the FTSE 100 after the combination with Witan Investment Trust Plc (‘Witan’).
    • The Company’s share price was 1,244 pence (£12.44) as of 31 December 2024, representing a Share Price Total Return1 of 14.3%.
    • The Company’s Net Asset Value Total Return1 of 13.3%, while strongly positive, trailed our benchmark index, the MSCI All Country World Index (‘MSCI ACWI’), which returned 19.6%.
    • The Company’s average discount narrowed to 4.7% from 5.4% at the end of 2023, which compared favourably with the average discount for the Association of Investment Company’s Global Sector of 7.9%.
    • A fourth interim dividend 6.73p per share was declared on 28 January 2025, bringing the total dividend for the year ended 31 December 2024 to 26.70p per share. This is a 6% increase on the previous year, the 58th consecutive annual increase.

    Dean Buckley, Chair of Alliance Witan, commented:

    “The Company delivered strong outright gains for shareholders in 2024, although in common with most active global equity strategies, we underperformed our benchmark index, MSCI ACWI, where performance was concentrated in a handful of the largest US companies. Even so, the Company’s longer-term performance remains competitive, and demand for our shares was healthy last year, with the Company’s discount narrowing, bucking the industry trend towards widening discounts. We also increased our dividend for the 58th consecutive year.

    “Thanks to the support of both sets of shareholders, we achieved a historic combination with Witan, which places the Company in a strong position to realise economies of scale and offer better liquidity for our shares. With solid performance and a refreshed brand, supported by a marketing campaign that will continue in 2025, the Board is confident that the Company is well placed to continue delivering attractive returns for shareholders”.

    About Alliance Witan PLC

    Alliance Witan aims to be a core investment that beats inflation over the long term through a combination of capital growth and rising dividend. The Company invests in global equities across a wide range of different sectors and industries to achieve its objective. Alliance Witan’s portfolio uses a distinctive multi-manager approach. We blend the top stock selections of some of the world’s best active managers into a single diversified portfolio designed to outperform the market while carefully managing risk. Alliance Witan is an AIC Dividend Hero with 58 consecutive years of rising dividends.

    https://www.alliancewitan.com

    For more information, please contact:

    For more information, please contact:
    Mark Atkinson
    Senior Director
    Client Management, Wealth & Retail    		   Sarah Gibbons-Cook
    Director
    Willis Towers Watson   Quill PR
    Tel: 07918 724303   Tel: 07702 412680
    mark.atkinson@wtwco.com   AllianceWitan@quillpr.com

    1. Alternative Performance Measure. Share Price Total Return is the return to shareholders through share price capital returns and dividends paid by the Company and re-invested. Net Asset Value (NAV) Total Return is a measure of the performance of the Company’s NAV over a specified time period. It combines any change in the NAV and dividends paid.

    Financial highlights as at 31 December 2024

    Net Assets Net Asset Value (‘NAV’) per Share
    £5.2bn 1,304.9p
    (2023: £3.3bn) (2023: 1,175.1p)
       
    NAV Total Return1 Share Price
    +13.3% 1,244.0p
    (2023: +21.6%) (2023: 1,112.0p)
       
    Share Price Total Return1 Discount to NAV1
    +14.3% -4.7%
    (2023: +20.2%) (2023: -5.4%)
       
    Earnings per Share (Revenue) Total Dividend per Share
    17.3p 26.7p
    (2023: 18.6p) (2023: 25.2p)

    1. Alternative Performance Measure – see page 116 of the Annual Report for further information.
    Notes:
    NAV per Share including income with debt at fair value.
    NAV Total Return based on NAV including income with debt at fair value and after all costs.
    Source: Morningstar and Juniper Partners Limited (‘Juniper’).

    Chair’s Statement

    • Landmark combination with Witan
    • Another strong year for equities
    • 58th consecutive annual dividend increase
    • Discount narrower than the AIC Global Sector average
    • Named by the AIC as a top 20 best performing investment trust over ten years1

    2024 was a landmark year for your Company. I would like to begin by thanking you for your support for the combination of Alliance Trust and Witan to form Alliance Witan and by welcoming all shareholders who have joined us as a result. This was a pivotal moment in our history, achieving economies of scale and elevating the Company to the FTSE 100. Now, as one of the industry’s leaders, this status will provide better liquidity for our shares and, with good long term investment performance and a strong brand, help us attract new investors. We made a number of commitments to investors as part of the proposals, for example in respect of dividends and costs, and you will see as you read through the Annual Report how we have achieved each of these.

    As I mentioned in the Interim Report for the six months ended 30 June 2024, there has been no change to the Company’s investment strategy, just a larger pool of assets for our Investment Manager, WTW, to manage with the same professionalism that it has brought to the job since April 2017.

    1. https://www.theaic.co.uk/aic/news/press-releases/top-20-best-performing-investment-trusts-for-your-isa

    Investment Performance

    It was another good year for global equity markets, and your Company delivered strong absolute returns. NAV Total Return was 13.3% and, due to a narrowing of the discount, Share Price Total Return was 14.3%. However, we lagged our benchmark index, the MSCI All Country World Index (‘MSCI ACWI’ or ‘Index’), which returned 19.6%. We also marginally underperformed our peers in the AIC Global Sector, which is disappointing, but we were slightly ahead of the much wider, more representative Morningstar peer group of open and closed-ended global equity funds.

    Simply put, our relative performance in 2024 suffered from not having enough exposure to the small number of very large companies that dominated market returns, especially in the US.

    The narrowness of returns from global equity markets has been a common problem for all active managers in recent years, and we take comfort from the fact that, despite this persistent headwind, we are ahead of the Index and have significantly outperformed both peer groups over three years. You can read more about the contributors/detractors to the Company’s investment performance during 2024 in the Investment Manager’s Report on page 9 of the Annual Report.

    Dividend increased for the 58thconsecutive year

    The Board declared a fourth interim dividend of 6.73p per share on 28 January 2025, resulting in a full year dividend of 26.70p, an increase of 6.0% on the prior year. This fulfils the promise we made at the time of the combination of Alliance Trust and Witan to increase dividends for the legacy shareholders of both companies. 2024’s increase marks the 58th consecutive annual increase, which is one of the longest track records in the investment trust industry. Dividends are well supported by revenue and reserves, and the Board is confident annual dividend increases can continue well into the future. Due to our steady approach, the Company has received a ‘Dividend Hero’ investment company award from the Association of Investment Companies (‘AIC’).

    Narrowing discount

    Many investment trusts continued to trade on large discounts to NAV throughout 2024, with the industry average widening to 14.7% from 12.7%.1 I am pleased to report that your Company fared better than most, with its average discount falling to 4.7% from 5.4% over the year. This compared favourably with the average discount for the AIC Global Sector of 7.9%.

    Your Board remains committed to the maintenance of a stable discount. We will continue to use share buybacks as appropriate and invest in promotional activity to widen our shareholder base, to support the management of the discount. During 2024, the Company bought back 4.7 million shares (1.2% of shares in issue2), versus 8.6 million repurchased in 2023. The shares bought back during the year were placed in Treasury. This level of buybacks was significantly below that of our peers, in a year in which industry-wide buybacks hit a record level of £7.5 billion3. The shares held in Treasury can be reissued by the Company at a premium to estimated NAV when there is market demand.

    Board changes

    Following the completion of the combination of Alliance Trust with Witan, we welcomed four new Non-Executive Directors to the Board: Andrew Ross, Rachel Beagles, Shauna Bevan and Jack Perry, all of whom were former directors of Witan.

    Clare Dobie, having served for almost nine years, is retiring as a Director at the conclusion of this year’s Annual General Meeting (‘AGM’), as is Jack Perry, reducing the size of the Board to eight members.

    On behalf of the Board, I would like to thank Clare and Jack for their contributions.

    Annual General Meeting

    The Board looks forward to being able to meet shareholders again at this year’s AGM, which will be held at the Apex City Quay Hotel in Dundee on 1 May 2025. For those shareholders who are not able to attend in person, we will be live streaming the event. As well as the formal business of the meeting, there will be an investor forum afterwards featuring two of our Stock Pickers, Jennison and EdgePoint, as well as members of WTW’s investment team. There will be another in-person investor forum in London in the autumn. In addition, shareholders can engage with the Company and its Stock Pickers via online presentations during the year. Further details of how to attend all these events can be found on the website.

    The Board would strongly encourage shareholders to use the opportunity to have their say and use their vote at the AGM. Further information on the arrangements for the AGM, including information on how to vote either directly through the Registrar or though different platforms, is on pages 134 and 135 of the Annual Report.

    Keep up-to-date

    In these unusual times, the website will provide timely updates to shareholders. Therefore, I would encourage you to visit the website which contains a vast amount of information on investment performance, details of shareholder meetings and investor forums, monthly factsheets, quarterly newsletters, and Stock Picker updates, as well as the Annual and Interim Reports.

    As always, the Board welcomes communication from shareholders and I can be contacted through Juniper Partners (‘Juniper’), the Company Secretary at investor@alliancewitan.com.

    Outlook

    Since the start of President Trump’s second term of office in January, tariffs have created uncertainty about the outlook for equities. Diplomatic tensions over efforts to end the war in Ukraine and conflict in Gaza have also raised geopolitical risks. Furthermore, European bond markets are adjusting to the prospect of increased borrowing to fund higher levels of defence and infrastructure spending.

    While there is a risk that heightened levels of uncertainty will impact on business and consumer confidence, global growth and corporate earnings forecasts are currently healthy, giving some grounds for cautious optimism, about further gains for shareholders, especially if there is a broadening out of market leadership.

    While the Index is highly concentrated, your portfolio has broader exposure to many good businesses that have not yet received the market recognition our Stock Pickers believe they deserve.

    The portfolio will not always outperform the market in every discrete period, but we believe it will continue to add significant value for shareholders in the long run.

    I look forward to meeting as many of you as possible at the AGM in Dundee or the next investor forum in London.

    1. Weighted average discount (excluding 3i Group). Source: Winterflood.
    2. Percentage based on the Company’s issued share capital (excluding shares held in Treasury) as at 1 January 2025.
    3. Source: AIC and Morningstar.

    Dean Buckley
    Chair
    6 March 2025

    Combination with Witan

    The most significant development during the year under review was the combination of the Company with Witan.

    Background

    Following a comprehensive review of management arrangements, the Witan Board concluded that a combination with the Company was in the best interests of Witan’s shareholders. Amongst other things this allowed them continued exposure to a successful multi-manager approach.

    The combination was undertaken by way of a scheme of reconstruction and members’ voluntary liquidation of Witan. The scheme required the approval of both the Company and Witan’s shareholders and took effect on 10 October 2024. It resulted in the Company acquiring approximately £1,539 million of net assets from Witan in consideration for the issue of new ordinary shares to Witan shareholders. The name of the Company became Alliance Witan and the stock exchange ticker ALW.

    Outcome

    The combination was expected to result in substantial benefits for all shareholders and future investors. The outcomes of the key elements of the proposals include:

    • Greater profile and FTSE 100 inclusion: the Company has assets of over £5 billion and is now a FTSE 100 Index constituent.
    • Lower management fees: WTW agreed a new management fee structure; this resulted in an even more competitive blended fee rate for all shareholders.
    • Lower ongoing charges: the new management fee structure and economies of scale have reduced ongoing charges to 0.56% (net of the management fee waiver).
    • No cost to either companies’ shareholders: the costs of the transaction were carefully managed, including the fee waiver from WTW, to ensure that the transaction was completed at no cost to all shareholders.
    • Attractive and progressive dividend policy: the third and fourth interim dividend payments of 2024 were increased to ensure that they were commensurate with Witan’s first interim dividend. It is expected that the dividend will continue to increase in the current year so that shareholders continue to see progression in their income.

    Portfolio Transition

    • The Company received assets including cash and equities from Witan and the Witan loan notes were novated to the Company. Details are provided in note 13 to the Financial Statements.
    • BlackRock Investment Management (UK) Limited managed the portfolio transition. Direct costs of the portfolio transition and Manager changes were less than 0.04% of the Net Asset Value of the enlarged portfolio.

    Investment Manager’s Report

    Market backdrop: equities untroubled by politics

    For the second year running, global equities delivered strong returns in 2024, with economics trumping politics. Despite a record number of elections, conflicts in the Middle East and Ukraine reaching new heights, and a scary moment in Japan when the Nikkei Index of the top 225 blue-chip shares plunged 12% in a day at the beginning of August, investors focused on resilient global growth, falling inflation and interest rates, and healthy corporate profitability.

    Hence, our benchmark index, the MSCI ACWI, returned 19.6% in 2024 following a return of 15.3% in 2023. Since 1987, the Index has returned an average of 8.4% per annum1, so returns of this magnitude in two consecutive years are rare. The ebullient mood of equity investors was reflected in a surge in the prices of less established assets, such as cryptocurrency, with Bitcoin reaching all-time highs of over $100,000. Peanut the Squirrel Coin, a cryptocurrency named after the eponymous pet that New York environmental authorities seized and euthanised on 30 October 2024, at one point commanded a market cap of $1.7 billion.

    However, regional equity market performance was mixed. US markets once again led the way, with the S&P 500 delivering a 27% return when measured in British pounds. Chinese equities rallied briefly following government stimulus, but concerns over the country’s property market and trade tensions persisted. Together with a strong US dollar, these worries led to more subdued returns from emerging markets, which rose about 9%. In Japan, August’s technically driven decline proved temporary, and the Nikkei resumed its ascent to close the year at a record high, although the yen’s depreciation reduced returns for UK-based investors when converted into British pounds. The UK and European markets were more muted, with the FTSE All Share Index and the MSCI Europe ex UK Index returning 9.5% and 1.9% respectively.

    Gains driven by US tech giants

    Giant US technology related stocks were the standout performers, fuelled by investor excitement about generative artificial intelligence (‘AI’) and, from November onwards, hopes that Donald Trump’s victory in the presidential election would weaken regulatory scrutiny. The share prices of the so called “Magnificent Seven” – Apple, Amazon, Alphabet, Meta, Microsoft, NVIDIA and Tesla – increased by 60% on average and were responsible for 43% of MSCI ACWI’s gains. This was less than 2023 when they contributed 53%, but still a huge number emphasising the extreme concentration of index returns in a small number of companies.

    Even so, from mid-year onwards, returns were no longer quite as skewed to the performance of a handful of shares. Although NVIDIA and Tesla returned a massive 176% and 65% respectively, giant tech was not the only game in town. Financial stocks returned 26.5%, and returns from the consumer discretionary, industrial and utility sectors were also well into double figures, pointing to the potential broadening out of market returns as stock-specific drivers came to the fore.

    1. https://www.msci.com/documents/10199/8d97d244-4685-4200-a24c-3e2942e3adeb

    Portfolio performance: strong absolute gains but lagged benchmark index

    Our portfolio’s NAV Total Return was a robust 13.3% but, as with most active managers, it lagged the Company’s benchmark index. The portfolio does, however, remain ahead of the Index over three years (28.0% vs 26.8%), albeit behind over five years (64.7% vs 70.8%). Disappointing though it was not to beat the MSCI ACWI in 2024, we were not alone. AJ Bell calculated that, to the end of November, just 18% of active global equity funds outperformed their passive peers, largely due to their inability to match high Index weightings in the “Magnificent Seven”. The sheer size of these companies in the Index is mind boggling. NVIDIA, Microsoft and Apple, for example, represent 13% of the MSCI ACWI as at 31 December 2024 and, together, are bigger than the entire stock markets of several sizeable countries.

    The skew of the Index towards mega-cap companies has been a challenge, to varying degrees, since the start of our multi-manager strategy in April 2017. As a broadly diversified strategy, with capital spread between 8-12 Managers, all with different approaches to investing, our portfolio naturally has a structural bias away from stocks that on rare occasions represent such a large proportion of our global benchmark. While we have some exposure to most of the “Magnificent Seven”, it would require a lot of the Managers to choose them as one of their best ideas for us to be at Index weight, never mind be overweight.

    The Index may have been hard to beat in recent years, but market concentration poses significant risks for passive strategies. At the end of 2024, the Index on average allocated around 150 times as much capital to each of Apple, NVIDIA and Microsoft as it did to the average stock, akin to us placing about 95% of the portfolio in one manager’s hands and 0.5% each in the other ten.

    We do not believe this is the right way to manage risk for shareholders, bearing in mind that index trackers are not investing lots of money in these companies because they are good businesses trading at good valuations, but because they are very big. If US large-cap stocks continue to dominate, tracker funds may continue to outperform active funds. But if sentiment on the technology sector turns sour, passive funds with big stakes will be hit much harder.

    Not owning enough NVIDIA was painful

    The strong outperformance of our portfolio versus our benchmark in 2023 continued into the first quarter of 2024, when the biggest contribution came from not owning, at that time, poorly performing Tesla and Apple. But thereafter stock selection became more challenging, particularly within the “Magnificent Seven”. Although we benefitted from owning Amazon and Microsoft, we moved from an overweight to an underweight position in NVIDIA in the first quarter after its extraordinary outperformance, which then made it our biggest single detractor last year as that outperformance continued. Having helped us in the first quarter, the lack of exposure to Tesla and Apple, which both recovered strongly as the year progressed, counted against us from then on. Overall, our positions in the “Magnificent Seven” accounted for a third of the portfolio’s underperformance versus the Index in 2024.

    The remainder of the portfolio’s underperformance came from a combination of being underweight in large-cap stocks in general and stock specific issues elsewhere, in some cases due to partial reversals of performance in 2023. For example, stock selection in financials detracted in large part due to our relative lack of exposure to strongly performing US banks such as JP Morgan and Goldman Sachs. In the consumer discretionary sector, the share price of UK-based drinks company Diageo, owned by Veritas Asset Management (‘Veritas’) and Metropolis Capital (‘Metropolis’), continued to suffer from a post-Covid cyclical downturn, falling 8.5%, although both Managers believe the company will eventually recover lost ground when structural trends reassert themselves. Novo Nordisk, the Danish weight loss drugs company, was another notable detractor, as its shares fell 14% after disappointing test results. Our Stock Pickers see this as a temporary decline in a growing market in which Novo Nordisk has a leading position. Hence, it was one of our biggest purchases in 2024 (see table below).

    Indeed, our Stock Pickers express a high degree of confidence in the latent value of many of their holdings. By far the most important long run ingredient underpinning share price performance is strong fundamentals, such as market-leading products or services, solid profit margins, plentiful cashflow and strong management.

    Top 10 purchases and sales

    Top 10 purchases Value £m   Top 10 sales Value £m
    UnitedHealth Group 50.2   Alphabet 84.3
    Novo Nordisk 48.8   NVIDIA 71.3
    Synopsys 47.5   Fiserv 39.0
    Microsoft 45.0   Aena 37.9
    Netflix 41.5   Ebara 36.1
    Philip Morris 41.4   TotalEnergies 35.0
    Enbridge 39.4   PayPal 33.8
    AT&T 39.0   Bureau Veritas 33.4
    American Electric Power 37.3   KKR 33.2
    Eli Lilly 36.6   Taiwan Semiconductor 32.2

    Source: Juniper.
    The purchases and sales are calculated by taking the net value of all transactions (buy and sells) for each holding held within the portfolio over the period. The tables exclude any non-equity holdings such as ETFs and any transfers from the combination with Witan.

    Even so, in the short run, market sentiment can have a larger impact on share prices than fundamentals. When we break down the portfolio performance against the Index into fundamentals and sentiment, the portfolio’s strong absolute performance has been mainly as a result of company fundamentals, whereas the Index’s absolute performance has been more driven by market sentiment.

    A full breakdown of the contributors to our Total Return in 2024 is shown in the following table.

    Contribution analysis

    Contribution to Return in 2024 %
    Benchmark Total Return 19.6
    Asset Allocation -1.1
    Stock Selection -5.3
    Gearing and Cash 0.6
    Investment Manager Impact -5.8
    Portfolio Total Return 13.8
    Share Buybacks 0.1
    Fees/Expenses -0.6
    Taxation -0.1
    Change in Fair Value of Debt 0.4
    Timing Differences -0.2
    NAV Total Return including Income, Debt at Fair Value 13.3
    Change in Discount 1.0
    Share Price Total Return 14.3

    Source: Performance and attribution data sourced from WTW, Juniper, MSCI Inc, FactSet and Morningstar as at 31 December 2024. Percentages may not add due to rounding.

    In the table below, we also list the top five contributors and detractors to portfolio performance during the year relative to the portfolio’s benchmark.

    Sands, Vulcan and Lyrical were the top performers

    As we would expect from such a diverse line up, performance among our Managers was mixed. This is by design, as we do not want the portfolio to be biased towards any one approach of investing, which might make returns vulnerable to a sudden switch from one style to another. This happened in 2022 when growth stocks began to suffer significantly as central banks raised interest rates to combat inflation. Sands Capital (‘Sands’), Vulcan Value Partners (‘Vulcan’), and Lyrical Asset Management (‘Lyrical’) were the top performers last year. Sands and Vulcan both benefitted from owning tech giants. Sands held NVIDIA while Vulcan held Amazon, but Sands’ largest contributor to relative performance was Axon Enterprise, an industrial business which makes tasers, body cameras and other software products. Its share price surged by 134% last year.

    Top five stock contributors to performance

    Stock Sector Country Average Active Weight (%) Total Return in Sterling (%) Attribution Effect Relative to Benchmark (%)
    Amazon Consumer Discretionary United States 1.0 47.0 0.2
    Axon Enterprise Industrials United States 0.2 134.2 0.2
    Salesforce Information Technology United States 0.4 29.8 0.2
    NRG Energy Utilities United States 0.4 80.6 0.2
    Nestle Consumer Staples Switzerland -0.4 -25.9 0.2

    Bottom five stock detractors to performance

    Stock Sector Country Average Active Weight (%) Total Return in Sterling (%) Attribution Effect Relative to Benchmark (%)
    NVIDIA Information Technology United States -1.8 176.1 -1.2
    Broadcom Information Technology United States -0.5 113.4 -0.6
    Novo Nordisk Health Care Denmark 0.8 -14.0 -0.6
    Tesla Consumer Discretionary United States -0.8 65.4 -0.6
    Apple Information Technology United States -3.9 32.8 -0.4

    Source: WTW.

    The tables above illustrate the top five contributors and detractors to returns relative to benchmark in 2024. It aims to explain at a stock level which companies drove relative returns. For example, the Alliance Witan portfolio was underweight relative to benchmark in NVIDIA, Broadcom, Tesla and Apple. These stocks had very strong returns, which hurt our portfolio’s relative performance. Conversely, not having an exposure to Nestle helped our relative performance given the stock was held in the benchmark and was down over the year. Our overweight position in Amazon, Axon Enterprise, Salesforce and NRG Energy contributed positively to relative returns given their strong performance. The average active weight is the arithmetic simple average weight of the stock in the portfolio minus the arithmetic simple average weight of the stock in the benchmark over the period.

    Vulcan’s largest contributor to our performance was KKR, the US-based private equity group, which returned 82%, prompting Vulcan to take profits. Its holding in Salesforce also did well, rising nearly 30%.

    Lyrical, a deep-value style investor, benefitted from owning several less talked-about US-based companies, which all rebounded from cheap valuations. These included NRG Energy, Ameriprise Financials and eBay.

    Of our Managers, the most notable laggard was Sustainable Growth Advisors (‘SGA’), which was disappointing given its focus on large cap growth stocks which, as a group, had the strongest price momentum. SGA suffered from holding Novo Nordisk, and two of its other positions, ICON and Synopsys also stood out as detractors. The recent poor performance of SGA follows a long period of outperformance, so returns since we appointed SGA remain strong. Value Managers Metropolis and ARGA Investment Management (‘ARGA’), the latter replacing Jupiter Asset Management (‘Jupiter’) in April, also struggled in the recent market environment, which has generally favoured growth managers.

    Portfolio changes: two new Managers added after combination with Witan

    As well as adding ARGA for Jupiter in the first half of the year, following Ben Whitmore’s decision to leave Jupiter to set up his own business, there were two further changes to the Manager line-up during the integration of Witan’s portfolio. Altogether, this contributed to an unusually high level of turnover of 98.5% of the portfolio in 2024. Both Alliance Trust and Witan already had GQG Partners (‘GQG’) and Veritas in common, which meant that there were some in-specie transfers of stocks. Additionally, the combination of Alliance and Witan presented us with an opportunity to introduce Jennison Associates (‘Jennison’) to the portfolio at a low cost.

    Based in the US, Jennison specialises in investing in innovative, fast-growing businesses. It had been one of Witan’s most successful managers and blending it with our other Managers increased the diversity of holdings in growth companies. We also took the opportunity to replace Black Creek Investment Management (‘Black Creek’) with EdgePoint Investment Group (‘EdgePoint’), while we were using a transition manager to keep costs down to a minimum.

    This change was prompted by succession planning at Black Creek. We had been monitoring Black Creek for some time due to the departure of a senior team member for health reasons and the uncertainty surrounding the timing of founder Bill Kanko’s retirement. With a similar investment style to Black Creek, EdgePoint seeks to buy good, undervalued businesses and hold them until the market fully realises their potential.

    Through the combination, we inherited a small number of investment trust and private equity fund holdings, representing less than 3% of the combined portfolio. These are specialist funds with portfolios focused on, among other things, early-stage life sciences, valuable intellectual property, innovative internet platforms and renewable infrastructure assets. Collective investments such as these are not normally part of our investment strategy. However, they are all trading at prices we believe are well below their intrinsic value, so rather than sell them at a loss, we will hold them until we can achieve attractive values.

    Beyond that, the combination did not lead to any change in our investment approach. We retain high conviction in our line-up of Managers and their ability to pick winning stocks, although we keep them under constant review for any red flags and have access to a deep bench of talented replacements should these be needed.

    Gearing: remaining cautious

    Our gross gearing stood at 8.4% at the end of 2024 (4.9% net of underlying Manager and central cash), slightly above the level of 7.1% at the start of the year, reflecting the improving outlook for equities as the year progressed. However, given the strong performance from equity markets, it is still towards the lower end of the typical range of 7.5 to 12.5%.

    Market outlook: multiple risks warrant diversification

    As 2025 began, the mood among investors was upbeat, with many hoping President Trump’s promises of deregulation and tax cuts would be supportive of equity markets. If returns can spread beyond a narrow group of highly valued US mega-cap technology stocks, it could provide firmer foundations for another good year for shares. The strong start to the year for European equities certainly offered hope for geographical diversification.

    However, on-off tariffs and geopolitical tensions loom large, creating considerable uncertainty. This was reflected in an increase in equity market volatility in February.

    In the first 2 months of 2025, the benchmark index rose by 2.2% suggesting that investors were still willing to look through some of the risks while forecast global growth and corporate earnings remain healthy. But confidence is fragile and, with valuations in the US still close to a record high despite February’s pullback, the market is vulnerable to setbacks.

    In this environment, we believe bottom-up stock picking, based on company fundamentals, should be a more reliable way to add value for shareholders in the long term than making bold, top-down market calls. So, we will continue to position the portfolio to maintain balanced regional, sector and style exposures, that are similar to the Index weightings by periodically adjusting Manager allocations. This should provide stability and reduce risk, while we rely on our Managers to add value by seeking out the best companies in each market segment.

    While retaining some exposure to US mega-cap tech stocks that may continue delivering attractive returns, our portfolio is not reliant on them. It also contains many stocks that have remained in the shadows but have been performing well operationally and have excellent prospects not yet reflected in their share prices.

    Hidden gems: stock picks with high potential

    We asked our eleven Stock Pickers for examples of strong but underappreciated companies in the portfolio

    Lyrical highlighted five of its US holdings that have underperformed the S&P 500 Index since the start of 2024 but, at the same time, have grown their forecast earnings per share by more than the Index. These are healthcare providers Cigna and HCA, WEX and Global Payments, which both provide business-to-business payment technology, and Gen Digital, which is a leading provider of cyber security and identity protection.

    “Interestingly, even on this list there is inconsistency by the market,” says Lyrical. “Cigna has the worst stock performance, but the second-best earnings per share (‘EPS’) growth. Gen Digital has the slowest EPS growth in the group, but the best performance”.

    ARGA cited Accor, the global hotel business, which has transitioned to an “asset light” business model by selling most of its hotels, while maintaining the lucrative franchise and management agreements attached to these properties. While Sands Capital sees potential in the share prices of Sika, a maintenance and building refurbishment specialist.

    “Investment results have been weak despite solid fundamental results,” says Sands. “We believe that investors have focused on slower than historical organic growth, caused by several factors, including the real estate crisis in China, slowdown in electric vehicle production, and a pause in green building incentives.”

    Sands Capital also mentioned Roper Technologies, a diversified industrial technology company, and Keyence, a leading designer of high-end factory automation based in Japan, as attractive businesses with share price appreciation potential.

    Vulcan highlighted CoStar Group, an information provider to the commercial and residential real estate industries, and Everest Group, a global insurance and reinsurance business, while GQG mentioned the UK-based pharmaceutical company AstraZeneca, the Brazil-based oil and gas company Petrobras, Bank Mandiri in Indonesia, and the Indian tobacco company ITC.

    SGA backed Danaher, the US industrial group, Intuit, which provides do-it-yourself accounting software for small businesses, and HDFC Bank in India. Jennison highlighted Reddit, the online social media platform.

    “Reddit is targeting 49% growth in the third quarter of 2024 and consensus is at 41% in Q4, but then market estimates are fading down to around 20% in 2025, which we think is overly conservative and creates an opportunity for investment today.”

    Veritas’s nominations for underappreciated businesses were Amadeus, the Spanish software company focusing on air travel, The Cooper Companies, which makes contact lenses, and Thermo Fisher Scientific, the world’s largest scientific equipment provider.

    Japan specialist Dalton’s best stocks included Bandai Namco, a multinational that publishes video games and makes toys, Shimano, the bicycle equipment manufacturer, and Rinnai, one of the global leaders in water heaters. Metropolis highlighted Andritz, the Austrian headquartered business supplying industrial equipment to the pulp and paper, metals and hydropower industries, Crown Holdings, which makes aluminium drinks cans, and Admiral, the UK insurer.

    Finally, EdgePoint, the newest addition to our Manager line-up, pointed to Dayforce, a global human resources software company, Nippon Paints Holdings in Japan, Franco-Nevada, a gold-focused royalty company in Canada, and Qualcomm, which invented significant pieces of the underlying technology required for mobile phones.

    “The market looks at Qualcomm as a handset supplier and the stock moves in relation to expected handset sales over the following quarters,” says EdgePoint. “We consider Qualcomm to be one of the world’s leading designers of energy-efficient processors at a point in time when demand for energy-efficient processing is growing rapidly across a wide range of industries. Some of the major opportunities for Qualcomm over the next 5 years include artificial intelligence, automobiles, personal computers and smartphones.”

    Altogether, these fundamentally strong businesses combine with others to create a robust, multi-manager portfolio that offers attractive long-term growth with lower risk than a single manager strategy, and therefore a more comfortable ride through the ups and downs of the market. Such companies may have remained below the radar in 2024, when investors became giddy with the stellar returns from the US technology shares, but we look forward to their attributes receiving the recognition from the market that they deserve.

    Craig Baker, Stuart Gray, Mark Davis
    Willis Towers Watson
    Investment Manager

    The securities referred to above represent the views of the underlying managers and are not stock recommendations.

    Summary of Portfolio
    As at 31 December 2024

    A full list of the Company’s Investment Portfolio can be found on the Company’s website, www.alliancewitan.com

    Top 20 holdings

    Name £m %
    Microsoft 236.3 4.3
    Amazon 197.4 3.6
    Visa 156.2 2.8
    UnitedHealth Group 116.4 2.1
    Alphabet 107.7 1.9
    Diageo 92.4 1.7
    Meta 88.6 1.6
    NVIDIA 82.7 1.5
    Aon 75.1 1.4
    Novo Nordisk 73.1 1.3
    Netflix 70.9 1.3
    Mastercard 70.7 1.3
    Eli Lilly 69.9 1.3
    Salesforce 61.5 1.1
    HDFC Bank 58.2 1.1
    Safran 53.3 1.0
    Taiwan Semiconductor 49.9 0.9
    Petrobras 48.1 0.9
    State Street 48.0 0.9
    Philip Morris 47.6 0.9

    The 20 largest stock positions, given as a percentage of the total assets. Each Stock Picker selects up to 20 stocks.*
    Top 20 holdings 32.9%
    Top 10 holdings 22.2%

    * Apart from GQG Partners, which also manages a dedicated emerging markets mandate with up to 60 stocks.

    Dividend

    We have paid our shareholders a rising dividend for 58 consecutive years. Providing that level of reliability is something of which we are extremely proud. We carefully manage the Company’s dividend. For instance, should there be a year in which income is unexpectedly high, we may retain some of that income to help fund future dividends. Due to our steady approach, the Company has received a ‘Dividend Hero’ investment company award from the Association of Investment Companies (‘AIC’).

    Our dividend policy

    Subject to market conditions and the Company’s performance, financial position and outlook, the Board will seek to pay a dividend that increases year on year. The Company expects to pay four interim dividends per year, on or around the last day of June, September, December and March, and will not, generally, pay a final dividend for a particular financial year.

    While shareholders are not asked to approve a final dividend, given the timing of the payment of the quarterly payments, each year they are given the opportunity to share their views when they are asked to approve the Company’s Dividend Policy.

    Fourth interim dividend

    As previously announced, a fourth interim dividend of 6.73p per ordinary share will be paid on 31 March 2025 to those shareholders who were on the register at close of business on 28 February 2025.

    Increased dividend

    The Company has increased its total dividend for the year ended 31 December 2024 to 26.7p per ordinary share (2023: 25.2p), a 6.0% increase on the previous year.

    Dividend 2024 (p) 2023 (p) % increase
    1st Interim 6.62 6.18 7.1
    2nd Interim 6.62 6.34 4.4
    3rd Interim 6.73 6.34 6.2
    4th Interim 6.73 6.34 6.2

    Reserves

    It is the Board’s intention to utilise distributable reserves as well as portfolio income to fund dividend payments. Further details of the dividend payments for the year to 31 December 2024 and information on distributable reserves can be found in notes 7 and 2(b)(x) of the Financial Statements, respectively.

    Ongoing Charges and Discount

    Ongoing charges1

    The Company’s ongoing charges ratio (‘OCR’) decreased to 0.56% (including the impact of the investment management fee waiver) (2023: 0.62%). Total administrative expenses were £3.9m (2023: £2.9m) and investment management expenses were £18.4m (2023: £16.3m). Further details of the Company’s expenses are provided in note 4 of the Financial Statements on page 90 of the Annual Report. The Company’s costs remain competitive for an actively managed multi-manager global equity strategy.

    Maintaining a stable discount1

    One of the Company’s strategic objectives is to maintain a stable share price discount to NAV. The Company has the authority to buy back its own shares in the market if the discount is widening and to hold these shares in Treasury.

    During the year under review, the Company’s share price traded at an average discount of 4.7% (2023: 6.0%). As at 31 December 2024, the Company’s share price discount was 4.7% (2023: 5.4%). The average discount (unweighted) for the AIC Global Sector was 7.9%.

    Share issuance and buybacks

    As a result of the combination with Witan, 120,949,382 new ordinary shares were issued for assets valued at £1.5bn implying an effective issue price of £12.7459246 per share.

    The Company bought back 1.2%* (2023: 3.0%) of its issued share capital during the year, purchasing 4,722,000 shares which were placed in Treasury. The total cost of the share buybacks was £57.0m (2023: £86.6m). The weighted average discount of shares bought back in the year was 5.7%. Share buybacks contributed a total of 0.1% to the Company’s NAV performance in the year.

    1. Alternative Performance Measure – see page 116 of the Annual Report for details.
    * Percentage based on the Company’s issued share capital (excluding shares held in Treasury) as at 31 December 2024.

    What We Do

    How WTW manages the portfolio

    WTW as Investment Manager has overall responsibility for managing the Company’s portfolio. It is the Investment Manager’s job to select a diverse team of expert Stock Pickers, each of whom invest in a customised selection of 10-20 of their ‘best ideas’. WTW then allocates capital to them, relative to the risks the Stock Picker represents. For example, small-cap stocks are typically more risky than large-cap stocks, so on average a small-cap specialist would tend to receive less capital than a Stock Picker who focuses on large-cap stocks. However, the allocations do not remain static; WTW keeps them under constant review and varies them over time according to market conditions, with the goal of keeping our exposures to different parts of global stocks markets well balanced.

    Stock Pickers are encouraged to ignore the benchmark and only buy a small number of stocks in which they have strong conviction, while WTW manages risk through the Stock Picker allocations. On their own, each of the Stock Picker’s high-conviction mandates has the potential to perform well. This is supported by WTW’s experience of managing high-conviction portfolios and academic evidence1. But concentrated selections of stocks can be volatile and risky, so WTW mitigates these dangers by blending Stock Pickers with complementary investment approaches or styles, which can be expected to perform differently in different market conditions. This smooths out the peaks and troughs of performance associated with concentrated single-manager strategies.

    Several of the Stock Pickers in the current portfolio have been with the Investment Manager since inception of the multi-manager strategy, though it does actively monitor and rearrange the line-up where necessary.

    WTW invests a lot of time and effort on identifying skilled Stock Pickers for the Company’s portfolio, undertaking extensive qualitative and quantitative analysis. This due diligence process focuses on:

    • The investment processes, resources and decision-making that make up the Stock Picker’s competitive advantage;
    • The culture and alignment of the organisation that leads to sustainability of that competitive advantage;
    • Their approach to responsible investment. WTW aims to appoint Stock Pickers who actively engage with the companies in which they invest and have an effective voting policy. When necessary, they challenge the Stock Pickers and guide them towards better practices; and
    • The operational infrastructure that minimises risk from a compliance, regulatory and operational perspective.

    1. Sebastian & Attaluri, Conviction in Equity Investing, The Journal of Portfolio Management, Summer 2014.

    The Investment Manager’s views are formed over extended periods from multiple interactions with the Managers, including regular meetings. They look beyond past performance numbers to try to understand the ‘competitive edge’. This involves examining and interrogating processes for selecting stocks, adherence to this process through different market conditions, team dynamics, training and experience. Performance track records are just a single data point, and, without the context of the additional information, they are unlikely to persuade WTW that a Stock Picker is skilled.

    Once selected, the Investment Manager tends to form long-term partnerships with the Stock Pickers, generally only taking them out of the portfolio if something fundamental changes, such as the departure of a key individual from the business or a change in business strategy or fortunes. With highly active, concentrated portfolios, periods of short-term underperformance are to be expected and are not a reason to doubt a Stock Picker if they are adhering to their philosophy and process. WTW does, however, keep a constant eye out for talent and may bring new Managers into the portfolio at the expense of an incumbent if they are a better fit.

    Responsible investment

    WTW believes that Environmental, Social and Governance (‘ESG’) factors have the potential to impact financial risk and return. As long-term investors, WTW aims to incorporate these factors into its investment process.

    As stewards of the Company’s assets, WTW seeks to integrate responsible investment into its process for managing the portfolio. ESG factors can influence returns, so these risk factors are taken into account in WTW’s investment processes, including assessing how Managers evaluate ESG risk in their decisions over what stocks to purchase. Climate change poses potential significant risks to investment returns from many companies, which is why both WTW and the Company have stated an intention to manage the assets with a goal of achieving Net Zero greenhouse gas emissions from the portfolio by 2050, with an interim intention of reducing portfolio emissions by approximately 50% by 2030, relative to 2019.

    In 2024, we saw an increase in the portfolio’s weighted average carbon intensity (which measures carbon emissions as a proportion of revenue) from 71.9tCO2e/$M sales to 117. 9tCO2e/$M sales. Over the year, some higher-emitting stocks came into the portfolio including, industrial company Alaska Air and materials company Alcoa Ord, and our allocation to the higher-emitting Utilities sector went up slightly with purchases of companies such as Southern Ord and American Electric Power. We are monitoring our progress against our Net Zero goal, and our Managers and EOS at Federated Hermes (‘EOS’) continue to engage with the companies in the portfolio on climate related issues.

    Progress towards Net Zero will not be linear. Emissions from the portfolio are dependent on holdings, which can change from year to year as WTW’s Stock Pickers seek value for investors. If companies are perceived as being at higher financial risk by being slow to adapt to a Net Zero world, we expect to use stewardship, such as voting and engagement, to encourage positive changes to business practices. WTW believes this is preferable to excluding companies from the portfolio, since exclusion merely passes the responsibility of ownership to other investors who may be less scrupulous about adherence to ESG standards or regulation.

    As well as engaging with companies on climate change, WTW’s Stock Pickers, together with stewardship provider EOS, focused on a wide range of other issues last year.

    Overall, EOS engaged with 97 companies in the portfolio on 515 issues and objectives throughout the year. Key areas of engagement included board effectiveness, climate change, human and labour rights and human capital, biodiversity, digital rights and AI. Of these engagements, the environmental category accounted for 29% of the total number of engagements, with 63% of environmental engagements relating to climate change. Meanwhile the Stock Pickers cast votes at 3,346 resolutions in 2024. Of these resolutions, they voted against company management on 386 and abstained from voting on 38 occasions.

    How We Manage Our Risks

    In order to monitor and manage risks facing the Company, the Board maintains and regularly reviews a risk register and heat map. The risk register details all principal and emerging risks thought to face the Company at any given time. The principal risks facing the Company, as determined by the Board, are Investment, Operational and Legal and Regulatory Non-Compliance.

    As part of its review process, the Board considers input on the principal and emerging risks facing the Company from its key service providers WTW and Juniper. Any risks and their associated risk ratings are then discussed, and the risk register and heat map updated accordingly, with additional measures put in place to monitor, manage and mitigate risks as required. During the period the Board carefully reviewed the risks associated with the implementation of the combination and the post transaction integration risks.

    Principal risks

    The principal risks facing the Company, how they have changed during the year and how the Board aims to monitor and manage these risks are detailed below.

    Risk and potential impact Risk rating How we monitor and manage the risk
    Market risk: loss on the portfolio in absolute terms, caused by economic and political events, interest rate movements and fluctuation in foreign exchange rates. Increased due to geopolitical and macro-economic uncertainty
    • The Board sets investment guidelines and the Investment Manager selects Stock Pickers and styles to provide diversification within the portfolio.
    • The Board receives regular updates from the Investment Manager and monitors adverse movements and impacts on the portfolio.
    • An explanation of the different components of market risk and how they are individually managed is contained in note 18 to the Financial Statements.
    Investment performance: relative underperformance makes the Company an unattractive investment proposition. Stable
    • The Company’s investment performance against its investment objective, relevant benchmark and closed and open ended peer group are reviewed and challenged where appropriate by the Board at every Board meeting.
    • The Board receives regular reporting from the Investment Manager to allow it to review the approach to ESG and climate risk factors embedded within the investment process from the Company’s perspective.
    Strategy and market rating: demand for the Company’s shares decreases due to changes in demand for the Company’s strategy or secular changes in investor demand. Stable
    • The Board regularly reviews the share register and receives feedback from the Investment Manager and broker on all marketing and investor relations and shareholder meetings, to keep informed of investor sentiment and how the Company is perceived in the market.
    • The Board monitors the Company’s share price discount and, working with the broker undertakes periodic share buybacks as appropriate to meet its strategic objective of maintaining a stable discount.
    • The proposed combination with Witan and the benefits to ongoing investors in terms of scale and investor proposition were reviewed and thoroughly considered to ensure the enlarged Company would be an attractive proposition for both current and prospective shareholders.
    Capital structure and financial risk: inappropriate capital or gearing structure may result in losses for the Company. Stable
    • The Board receives regular updates on the capital structure of the Company including share capital, borrowings, structure of reserves, compliance with ongoing covenants and shareholder authorities, to allow ongoing monitoring of the appropriate structure.
    • The Board reviews and manages the borrowing limits under which the Investment Manager operates. As part of the Witan combination, additional borrowing was novated to the Company. These additional facilities provide an increased blend of interest rates and maturity dates.
    • Shareholder authority is sought annually in relation to share issuance and buybacks to facilitate ongoing management of the share capital.
    Operational
    All of the Company’s operations are outsourced to third party service providers. Any failure in the operational controls of the Company’s service providers could result in financial, legal or regulatory and reputational damage for the Company.
    Operational risks include cyber security, IT systems failure, inadequacy of oversight and control, climate risk and ineffective disaster recovery planning.    		 Stable
    • The Board monitors the services provided by the key services suppliers and formally reviews the performance of each on an annual basis, including the review of audited internal control reports where appropriate. No material issues were raised as part of the evaluation process in 2024.
    • Cyber security continues to be a key focus for the Board. Reports on the cyber security, IT testing environment and disaster recovery testing of each key service provider are reviewed by the Board annually.
    • Any breaches in controls which have resulted in errors or incidents are required to be immediately notified to the Board along with proposed remediation actions.
    Legal and regulatory
    Failure to adhere to all legal and regulatory requirements could lead to financial and legal penalties, reputational damage and potential loss of investment trust status. Stable
    • The Board has contracted with its key service suppliers, including the Investment Manager and Juniper, in relation to its ongoing legal and regulatory compliance. The Board receives quarterly reports from each supplier to monitor ongoing compliance. The Company has complied with all legal and regulatory requirements in 2024.
    • Any breaches in controls which have resulted in errors or incidents are required to be immediately notified to the Board, along with proposed remediation actions.
    • The review of the Annual Report by the independent auditors provides additional assurance that the Company has met all legal and regulatory requirements in respect of those disclosures.

    Emerging risks

    Emerging risks are typified by having a high degree of uncertainty and may result from sudden events, new potential trends or changing specific risks where the impact and probable effect is hard to assess. As the assessment becomes clearer, the risk may be added to the risk matrix of ‘known’ risks.

    The Board is currently monitoring a number of emerging risks: geopolitical tension continues to be an emerging risk for the Company due to ongoing conflicts across the world. Along with increased populism and nationalism, these risks may impact individual economies and global markets. Although covered in the operational risk section above, the Board recognises the increased risk that cybercrime and the misuse of AI poses to the Company.

    Geopolitical events such as the conflicts in the Middle East region, coupled with the potential breakdown of post war alliances and potential new trade tariffs and changes to US economic and international policies introduced by President Trump, could bring uncertainty and fragility to capital markets in 2025, including persistent or reacceleration of inflationary pressures.

    Stakeholder Engagement – Section 172 Statement

    The Directors have a number of obligations including those under section 172 of the Companies Act 2006. These obligations relate to how the Board takes account of various factors in making its decisions – including the impact of its decisions on key stakeholders. The Board is focused on the Company’s performance and its responsibilities to stakeholders, corporate culture and diversity, as well as its contributions to wider society, and it takes account of stakeholder interests when making decisions on behalf of the Company.

    As an externally-managed investment trust, the Board considers the Company’s key stakeholders to be existing and potential new shareholders and its service providers.

    Full details on the primary ways in which the Board engaged with the Company’s key stakeholders can be found on pages 30 to 35 of the Annual Report.

    Dean Buckley
    Chair
    6 March 2025

    Viability and Going Concern Statements

    Viability Statement

    The Board has assessed the prospects and viability of the Company beyond the 12 months required by the Going Concern accounting provisions.

    The Board considered the current position of the Company and its prospects, strategy and planning process as well as its principal and emerging risks in the current, medium and long term, as set out on pages 27 to 29 of the Annual Report. After the year-end but prior to approval of these Accounts, the Board reviewed its performance against its strategic objectives and its management of the principal and emerging risks facing the Company.

    The Board received regular updates on performance and other factors that could impact on the viability of the Company.

    The Board has concluded that there is a reasonable expectation that the Company will be able to continue in operation and meet its liabilities as they fall due for at least the next five years; the Board expects this position to continue over many more years to come. The Company’s Investment Objective, which was approved by shareholders in April 2019, is to deliver a real return over the long term, through a combination of capital growth and a rising dividend, and the Board regards the Company’s shares as a long-term investment. The Board believes that a period of five years is considered a reasonable period for investment in equities and is appropriate for the composition of the Company’s portfolio.

    In arriving at this conclusion, the Board considered:

    • Financial strength: As at 31 December 2024 the Company had total assets of £5.6bn, with net gearing of 4.9% and gross gearing of 8.4%. At the year-end the Company had £182.7m of cash or cash equivalents.
    • Investment: The portfolio is invested in listed equities across the globe. The portfolio is structured for long-term performance; the Board considers five years as being an appropriate period over which to measure performance.
    • Liquidity: The Company is closed-ended, which means that there is no requirement to realise investments to allow shareholders to sell their shares. The Directors consider this structure supports the long-term viability and sustainability of the Company, and have assumed that shareholders will continue to be attracted to the closed-ended structure due to its liquidity benefit. During the year, WTW carried out a liquidity analysis and stress test which indicated that around 93% of the Company’s portfolio could be sold within a single day and a further 6% within 10 days, without materially influencing market pricing. WTW performs liquidity analysis and stress testing on the Company’s portfolio of investments on an ongoing basis under both current and stressed conditions. WTW remains comfortable with the liquidity of the portfolio under both of these market conditions. The Board would not expect this position to materially alter in the future.
    • Dividends: The Company has significant accumulated distributable reserves which together with investment income can be used to support payment of the Company’s dividend. The Board regularly reviews revenue forecasts and considers the long-term sustainability of dividends under a variety of different scenarios. The Company has sufficient funds to meet its Dividend Policy commitments.
    • Reserves: The Company has large reserves (at 31 December 2024 it had £3.7bn of distributable reserves and £1.5bn of other reserves).
    • Discount: The Company has no fixed discount control policy. The Company will continue to buy back shares when the Board considers it appropriate, to take advantage of any significant widening of the discount and to produce NAV accretion for shareholders.
    • Significant Risks: The Company has a risk and control framework which includes a number of triggers which, if breached, would alert the Board to any potential adverse scenarios. The Board has developed and reviewed various scenarios based on potentially adverse events as set out in note 18 on pages 100 to 107 of the Annual Report.
    • Borrowing: In consideration of the combination with Witan, the Company’s borrowing facilities were reviewed to ensure they remained appropriate. The Company’s available bank borrowing facilities were consequently increased by £50m; and £155m of fixed rate loan notes were novated from Witan as part of the combination. The Company’s weighted average borrowings costs have reduced by 0.3%. All borrowings are secured by floating charges over the assets of the Company. The Company comfortably meets its banking covenants.
    • Security: The Company retains title to all assets held by the Custodian which are subject to further safeguards imposed on the Depositary.
    • Operations: Throughout the year under review, the Company’s key service providers continued to operate in line with service level agreements with no significant errors or breaches having been recorded.

    Going Concern Statement

    In view of the conclusions drawn in the foregoing Viability Statements, which considered the resources of the Company over the next 12 months and beyond, the Directors believe that the Company has adequate financial resources to continue in existence for at least the period to 31 March 2026. Therefore, the Directors believe that it is appropriate to continue to adopt the Going Concern basis in preparing the financial statements.

    Directors’ Responsibilities

    The Directors are responsible for preparing the Annual Report and the Financial Statements in accordance with UK-adopted international accounting standards and applicable law and regulations.

    Company law requires the Directors to prepare Financial Statements for each financial year. Under that law the Directors are required to prepare the Financial Statements in accordance with UK-adopted international accounting standards. Under company law the Directors must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss for that period.

    In preparing these Financial Statements, the Directors are required to:

    • Select suitable accounting policies and then apply them consistently;
    • Make judgements and accounting estimates that are reasonable and prudent;
    • State whether they have been prepared in accordance with UK-adopted International Accounting Standards, subject to any material departures disclosed and explained in the Financial Statements;
    • Prepare the Financial Statements on the Going Concern basis unless it is inappropriate to presume that the Company will continue in business; and
    • Prepare a Directors’ Report, a Strategic Report and Directors’ Remuneration Report which comply with the requirements of the Companies Act 2006.

    The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions, and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the Financial Statements comply with the Companies Act 2006.

    They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors are responsible for ensuring that the Annual Report and Financial Statements, taken as a whole, are fair, balanced and understandable and provides the information necessary for shareholders to assess the Company’s position, performance, business model and strategy.

    Website publication

    The Directors are responsible for ensuring the Annual Report and the Financial Statements are made available on a website. Financial Statements are published on the Company’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of Financial Statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Company’s website is the responsibility of the Directors. The Directors’ responsibility also extends to the ongoing integrity of the Financial Statements contained therein.

    Report of Directors and Responsibility Statement

    The Report of the Directors on pages 36 to 69 of the Annual Report (other than pages 61 to 63 which form part of the Strategic Report) of the Annual Report and Accounts has been approved by the Board. The Directors have chosen to include information relating to future development of the Company and relationships with suppliers, customers and others, and their impact on the Board’s decisions on pages 30 to 35 of the Annual Report.

    Each of the Directors, who are listed on pages 37 to 40 of the Annual Report, confirm to the best of their knowledge that:

    • The Financial Statements, prepared in accordance with the applicable set of UK adopted International Accounting Standards, give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company;
    • The Annual Report includes a fair view of the development and performance of the business and the position of the Company, together with a description of the principal risks and uncertainties that the Company faces; and
    • In the opinion of the Board, the Annual Report and Financial Statements taken as a whole, are fair, balanced and understandable and provides the information necessary to assess the Company’s position, performance, business model and strategy.

    On behalf of the Board

    Dean Buckley
    Chair
    6 March 2025
    Statement of Comprehensive Income for the year ended 31 December 2024
      Year to 31 December 2024 Year to 31 December 2023
      Revenue Capital Total Revenue Capital Total
    £000            
    Income         72,463 354 72,817 69,591 1,678 71,269
    Gains on investments held at fair value through profit or loss – 449,551 449,551 – 578,715 578,715
    Losses on derivatives – (206) (206) – – –
    Gains/(losses) on fair value of debt – 16,708 16,708 – (11,371) (11,371)
    Total 72,463 466,407 538,870 69,591 569,022 638,613
    Investment management fees (5,381) (13,058) (18,439) (5,074) (11,228) (16,302)
    Administrative expenses (3,661) (281) (3,942) (2,558) (344) (2,902)
    Finance costs (3,221) (9,662) (12,883) (2,380) (7,141) (9,521)
    Foreign exchange losses – (1,010) (1,010) – (3,737) (3,737)
    Profit before tax 60,200 442,396 502,596 59,579 546,572 606,151
    Taxation (6,545) (5,348) (11,893) (6,231) (251) (6,482)
    Profit for the year 53,655 437,048 490,703 53,348 546,321 599,669

    All profit for the year is attributable to equity holders.

    		        
             
    Earnings per share (pence per share) 17.30 140.95 158.25 18.55 189.98 208.53

    All revenue and capital items in the above statement derive from continuing operations.

    The ‘Total’ column of this statement is the profit and loss account of the Company and the ‘Revenue’ and ‘Capital’ columns represent supplementary information prepared under guidance issued by the Association of Investment Companies. The Company does not have any other comprehensive income and hence profit for the year, as disclosed above, is the same as the Company’s total comprehensive income.

    Statement of Changes in Equity for the year ended 31 December 2024
            Distributable reserves  
    £000 Share
    capital    		 Share premium account Capital redemption reserve Realised capital reserve Unrealised capital reserve Revenue reserve Total distributable reserves Total equity
                     
    At 1 January 2023 7,314 – 11,684 2,669,933 103,754 102,334 2,876,021 2,895,019
    Total comprehensive income:                
    Profit for the year – – – 75,430 470,891 53,348 599,669 599,669
    Transactions with owners, recorded directly to equity:                
    Ordinary dividends paid – – – – – (71,378) (71,378) (71,378)
    Unclaimed dividends returned – – – – – 14 14 14
    Own shares purchased (208) – 208 (86,636) – – (86,636) (86,636)
    Balance at 31 December 2023 7,106 – 11,892 2,658,727 574,645 84,318 3,317,690 3,336,688

    Total comprehensive income:

    		                
    Profit for the year – – – 458,122 (21,074) 53,655 490,703 490,703
    Transactions with owners, recorded directly to equity:                
    Issue of ordinary shares in respect of the combination with Witan 3,024 1,535,877 – – – – – 1,538,901
    Costs in relation to the combination – (4,947) – – – – – (4,947)
    Ordinary dividends paid – – – – – (82,414) (82,414) (82,414)
    Unclaimed dividends returned – – – – – 9 9 9
    Own shares purchased – – – (56,987) – – (56,987) (56,987)
    Balance at 31 December 2024 10,130 1,530,930 11,892 3,059,862 553,571 55,568 3,669,001 5,221,953

    The £553.6m (2023: £574.6m) of unrealised capital reserve arising on the revaluation of investments is subject to fair value movements and may not be readily realisable at short notice, as such it may not be entirely distributable. The unrealised capital reserve includes unrealised gains on borrowings of £22.8m (2023: £5.5m) and gains on unquoted investments of £3.5m (2023: £nil) which are not distributable.

    Balance Sheet as at 31 December 2024
      2024 2023
    £000    
    Non-current assets            
    Investments held at fair value through profit or loss 5,402,381 3,482,329
      5,402,381 3,482,329
    Current assets    
    Outstanding settlements and other receivables 11,282 9,321
    Cash and cash equivalents 182,725 84,974
      194,007 94,295
    Total assets 5,596,388 3,576,624
    Current liabilities    
    Outstanding settlements and other payables (13,057) (9,792)
    Bank loans (45,245) –
      (58,302) (9,792)
         
    Total assets less current liabilities 5,538,086 3,566,832
         
    Non-current liabilities    
    Fixed rate loan notes held at fair value (299,276) (215,144)
    Bank loans (15,000) (15,000)
    Deferred tax provision (1,857) –
      (316,133) (230,144)
    Net assets 5,221,953 3,336,688
         
    Equity    
    Share capital 10,130 7,106
    Share premium account 1,530,930 –
    Capital redemption reserve 11,892 11,892
    Capital reserve 3,613,433 3,233,372
    Revenue reserve 55,568 84,318
    Total equity 5,221,953 3,336,688
    All net assets are attributable to equity holders.
     
    Net asset value per ordinary share attributable to equity holders (£) £13.05 £11.75

    The Financial Statements were approved by the Board of Directors and authorised for issue on 6 March 2025.

    They were signed on its behalf by:

    Jo Dixon
    Chair of the Audit and Risk Committee

    Cash Flow Statement for the year ended 31 December 2024
      2024 2023
    £000    
    Cash flows from operating activities    
    Profit before tax 502,596 606,151
         
    Adjustments for:    
    Gains on investments (449,551) (578,715)
    Losses on derivatives 206 –
    (Gains)/losses on fair value of debt (16,708) 11,371
    Foreign exchange losses 1,010 3,737
    Finance costs 12,883 9,521
    Operating cash flows before movements in working capital 50,436 52,065
    (Increase)/decrease in receivables (2,274) 1,599
    Decrease in payables (43) (36)
    Net cash inflow from operating activities before tax 48,119 53,628
    Taxes paid (10,701) (6,654)
    Net cash inflow from operating activities 37,418 46,974
         
    Cash flows from investing activities    
    Proceeds on disposal of investments 4,697,547 1,600,165
    Purchases of investments (4,702,449) (1,489,643)
    Settlement of derivative financial instruments (206) –
    Net cash (outflow)/inflow from investing activities (5,108) 110,522
    Net cash inflow before financing 32,310 157,496
         
    Cash flows from financing activities    
    Dividends paid – equity (82,414) (71,378)
    Unclaimed dividends returned 9 14
    Net cash acquired following the combination with Witan 177,581 –
    Costs paid in relation to the combination with Witan (4,947) –
    Purchase of own shares (56,987) (88,060)
    Repayment of bank debt (59,000) (63,500)
    Drawdown of bank debt 104,874 15,000
    Issue of loan notes – 60,632
    Finance costs paid (12,033) (10,357)
    Net cash inflow/(outflow) from financing activities 67,083 (157,649)
         
    Net increase/(decrease) in cash and cash equivalents 99,393 (153)
    Cash and cash equivalents at the start of the year 84,974 88,864
    Effect of foreign exchange rate changes (1,642) (3,737)
    Cash and cash equivalents at end of the year 182,725 84,974

    The financial information set out above does not constitute the Company’s statutory Financial Statements for the years ended 31 December 2024 or 2023, but is derived from those Financial Statements. Statutory accounts for 2023 have been delivered to the Registrar of Companies and those for 2024 will be delivered following the Company’s Annual General Meeting. The auditors have reported on those accounts; their reports were unqualified, did not draw attention to any matters by way of emphasis without qualifying their report and did not contain statements under s498(2) or (3) Companies Act 2006.

    The same accounting policies, presentations and methods of computation are followed in these Financial Statements as were applied in the Company’s last annual audited Financial Statements, other than those stated in the Annual Report.

    Basis of accounting

    The Financial Statements have been prepared in accordance with UK-adopted international accounting standards (‘IASs’).

    The Financial Statements have been prepared on the historical cost basis, except that investments and fixed rate notes are stated at fair value through the profit and loss. The Association of Investment Companies (‘AIC’) issued a Statement of Recommended Practice: Financial Statements of Investment Companies (‘AIC SORP’) in July 2022. The Directors have sought to prepare the Financial Statements in accordance with the AIC SORP where the recommendations are consistent with International Financial Reporting Standards (‘IFRS’). The Company qualifies as an investment entity.

    1. Income    
    An analysis of the Company’s revenue is as follows:    
         
    £000 2024 2023
    Revenue:    
    Income from investments    
    Listed dividends – UK 10,125 12,836
    Listed dividends – Overseas 60,838 55,761
      70,963 68,597
    Other income    
    Bank interest 1,475 987
    Other income 25 7
      1,500 994
    Total allocated to revenue 72,463 69,591
         
    Capital:    
    Income from investments    
    Listed dividends – UK 23 –
    Listed dividends – Overseas 331 1,678
    Total allocated to capital 354 1,678
    Total income 72,817 71,269
    2. Dividends    
    Dividends paid during the year    
         
    £000 2024 2023
    2022 fourth interim dividend 6.00p per share – 17,498
    2023 first interim dividend 6.18p per share – 17,849
    2023 second interim dividend 6.34p per share – 18,028
    2023 third interim dividend 6.34p per share – 18,003
    2023 fourth interim dividend 6.34p per share 18,003 –
    2024 first interim dividend 6.62p per share 18,799 –
    2024 second interim dividend 6.62p per share 18,676 –
    2024 third interim dividend 6.73p per share 26,936 –
      82,414 71,378
         
    Dividends payable for the year

    We also set out below the total dividend payable in respect of the financial year, which is the basis on which the requirements of Section 1158/1159 of the Corporation Tax Act 2010 are considered.
    £000 2024 2023
    2023 first interim dividend 6.18p per share – 17,849
    2023 second interim dividend 6.34p per share – 18,028
    2023 third interim dividend 6.34p per share – 18,003
    2023 fourth interim dividend 6.34p per share – 18,003
    2024 first interim dividend 6.62p per share 18,799 –
    2024 second interim dividend 6.62p per share 18,676 –
    2024 third interim dividend 6.73p per share 26,936 –
    2024 fourth interim dividend 6.73p per share, payable 31 March 2025 26,933 –
      91,344 71,883
    3. Earnings per share
    The calculation of earnings per share is based on the following data:
     
      2024 2023
    £000 Revenue Capital Total Revenue Capital Total
    Ordinary shares            
    Earnings for the purpose of earnings per share being net profit attributable to equity holders 53,655 437,048 490,703 53,348 546,321 599,669
                 
    Number of shares            
    Weighted average number of ordinary shares in issue during the year   310,079,630   287,573,436

    The Company has no securities in issue that could dilute the return per ordinary share. Therefore the basic and diluted earnings per ordinary share are the same.

    4. Related party transactions

    There are amounts of £1,222 (2023: £1,222) and £34,225 (2023: £34,225) owed to AT2006 and The Second Alliance Trust Limited, respectively, at year-end.

    There are no other related parties other than those noted below.

    Transactions with key management personnel

    Details of the Non-Executive Directors are disclosed on pages 37 to 40 of the Annual Report.

    For the purpose of IAS 24 ‘Related Party Disclosures’, key management personnel comprised the Non-Executive Directors of the Company.

    Details of remuneration are disclosed in the Remuneration Report on pages 55 to 60 of the Annual Report.

    £000 2024 2023
    Total emoluments 337 350
         

    ANNUAL REPORT

    The Annual Report will be available in due course on the Company’s website www.alliancewitan.com. It will also be made available to the public at the Company’s registered office, River Court, 5 West Victoria Dock Road, Dundee DD1 3JT and at the offices of the Company’s Registrar, Computershare Investor Services PLC, Edinburgh House, 4 North St Andrew Street, Edinburgh EH2 1HJ after publication.

    In addition to the full Annual Report, up-to-date performance data, details of new initiatives and other information about the Company can be found on the Company’s website.

    ANNUAL GENERAL MEETING

    This year’s AGM will be held on 1 May 2025 at 11.00 a.m. at the Apex City Quay Hotel & Spa, 1 West Victoria Dock Road, Dundee DD1 3JP.

    The Board remains committed to maintaining a physical AGM, with shareholders and Directors present in person. However, the AGM will also be streamed live to shareholders. A web link will be provided for those shareholders wishing to join the AGM via the live stream. Information on how to obtain the link will be published on the Company’s website in due course.

    The MIL Network –

  • MIL-OSI China: Study reveals plateau’s geographical changes

    Source: China State Council Information Office 2

    Chinese scientists have pieced together the dramatic geographical changes of the Luolong Basin in the eastern part of the Xizang autonomous region, revealing a period of rapid elevation and climatic transformation between 54 million and 43 million years ago.
    The research, published last month in the journal National Science Review, details how the basin, initially a low-lying area about 600 meters above sea level, experienced rapid elevation to approximately 2,900 meters around 44 million years ago. This triggered a significant increase in rainfall and the establishment of distinct wet and dry seasons, according to Zhao Chenyuan, the study’s first author and a doctoral student at the Institute of Tibetan Plateau Research, part of the Chinese Academy of Sciences.
    “The ecological environment of the Luolong Basin before 44 million years ago was similar to today’s Shangri-La in Yunnan province, with mountains and forests intertwined, rich biodiversity and an annual precipitation of nearly 1,500 millimeters, resembling the forest ecosystems of modern Yunnan and Southeast Asia,” Zhao said.
    The basin featured large lakes and rivers — some possibly resembling modern-day Dianchi Lake or Erhai Lake in Yunnan — teeming with primitive freshwater fish and abundant insects, researchers said.
    The research team, led by academician Ding Lin, conducted extensive field investigations between 2020 and last year, collecting volcanic ash, paleosol and fossil samples.
    Ding highlighted the Luolong Basin’s strategic location in a transitional zone between the central and eastern Qinghai-Tibet Plateau, making it crucial for understanding plateau uplift and climate response.
    “This discovery updates the spatial distribution of the Central Tibetan Valley, extending it from the central plateau to the broader eastern Xizang region, forming a biodiverse forest belt 44 million years ago,” Ding said.
    The findings provide new insights into the Qinghai-Tibet Plateau’s uplift process, revealing that the eastern part of the Central Tibetan Valley rose before the central part.
    This created a westward-sloping topography, higher in the east and gradually lowering to the west.
    The plateau’s uplift also profoundly influenced the Asian monsoon system, with these changes offering vital clues to East Asia’s climate history, researchers said.

    MIL OSI China News –

  • MIL-OSI Australia: Injured crocodile under investigation

    Source: Government of Queensland

    Issued: 7 Mar 2025

    A brutal attack on a crocodile which left it with an arrow or spear protruding from its head at Cape Tribulation is being investigated.

    Wildlife rangers from the Department of the Environment, Science, Tourism and Innovation received a report about the injured crocodile on 20 February 2025.

    The crocodile was not seen during a subsequent site inspection, but wildlife rangers reviewed a social media video showing the animal swimming with an arrow or spear protruding from the right side of its head.

    Under the Nature Conservation Act 1992, it is an offence to deliberately harm or kill an estuarine crocodile, with a maximum penalty of $36,292.

    DETSI Program Coordinator Simon Booth said anyone with information about the attack on the crocodile is urged to contact DETSI on 1300 130 372.

    “The crocodile would be in extreme pain and if not captured and assessed, will most likely die a slow and agonising death,” Mr Booth said.

    “Unfortunately, if we are successful in locating and capturing the animal, it may have to be euthanised due to the extent of its injuries.

    “We are disgusted by this shocking incident, and it is disheartening to know that people can be so cruel.

    “Queenslanders do not tolerate animal cruelty and targeting and deliberately shooting an arrow at a crocodile or any native animal is unacceptable.

    “Crocodile sightings need to be reported to the department, and people should not deliberately harm them.”

    Crocodile sightings can be reported by using the QWildlife app, completing a crocodile sighting report on the DETSI website, or by calling 1300 130 372. The department investigates every crocodile sighting report received.

    Crocwise tips for people in Croc Country:

    • Expect crocodiles in ALL northern and far northern Queensland waterways even if there is no warning sign
    • Obey all warning signs – they are there to keep you safe
    • Be aware crocs also swim in the ocean and be extra cautious around water at night
    • Stay well away from croc traps – that includes fishing and boating
    • The smaller the vessel the greater the risk, so avoid using canoes and kayaks
    • Stand back from the water’s edge when fishing and don’t wade in to retrieve a lure
    • Camp as far back from the water’s edge as possible
    • Never leave food, fish scraps or bait near the water, camp sites or boat ramps
    • Never provoke, harass or feed crocs
    • Always supervise children near the water and keep pets on a lead.

    View further information on being Crocwise.

    MIL OSI News –

  • MIL-Evening Report: ‘Don’t be that idiot’: surfing in a cyclone could cost you $16,000 or your life

    Source: The Conversation (Au and NZ) – By Amy Peden, NHMRC Research Fellow, School of Population Health & co-founder UNSW Beach Safety Research Group, UNSW Sydney

    Social media is awash with images of surfers chasing waves as Cyclone Alfred whips up seas off Australia’s east coast.

    Queensland Premier David Crisafulli has branded beachgoers as “idiots”. On Friday morning, he said those going to the beach as the cyclone approaches put themselves and emergency services at risk, adding:

    I plead to the people who might think that now is a great time to go out on the surf – it’s not. It’s not just for you I’m concerned, but for the innocent person who has to go in after you.

    Sightseers have been caught in storm surges, and rescuers have been forced into the surf to help others. Up and down the coast, beaches are closed.

    In Queensland, surfers have been warned they may face fines up to $16,000 for reckless behaviour.

    Despite all this, surfers and others continue to enter the water. It’s important to ask why – and what will it take to get them to stop?

    Only a surfer knows the feeling

    I research injury prevention with a focus on drowning and safety in the water. As cofounder of the UNSW Beach Safety Research Group, I have also led research into surfing.

    Surfers frequently chase waves in big surf. Research by my colleagues and I shows under normal conditions, surfers have a lower risk of dying during this activity than people taking part in other water-related activities such as swimming, wading, snorkelling and scuba diving.

    Although drowning is the leading cause of death while surfing, other severe injuries are relatively rare.

    Of course, injuries can occur. These include cervical spine fractures and other spinal cord injuries, head injuries and lacerations. These can be due to collision with a surfboard, a fin, or the ocean floor.

    Yet most surfers usually manage to avoid serious injury. Throw some mega waves into the mix, however, and things can turn deadly, fast.

    Research shows the risk of injury is almost 2.5 times higher when surfing in waves that were over head height or bigger, relative to other waves.

    Despite this, the lure of experiencing record-breaking waves can be hard to ignore.

    Research shows surfers are motivated by what’s known as “sensation seeking”. In other words, they are more likely to seek out intense experiences than those who participate in other, less extreme sports.

    The desire to “master nature” – or go into battle with a big wave and come out on top – has been documented in analyses of surfing motivation.

    For big wave surfers, the reward – and the risk – can can be even greater. The physical and mental preparation needed to take on such extremes are immense. Tragically, deaths do occur even when attempts are made to improve safety.

    This desire to take risks in the water contributes to the over-representation of males in drowning statistics.

    Such risk-taking behaviour often plays out on social media in aquatic locations and during extreme weather events.

    Other hazards, above and below the surface

    Beyond the waves, other hazards can cause increased risk of ill health and injury in stormy seas. Debris can increase the risk of blunt-force trauma, while fecal and other bacteria in stormwater can cause illness.

    Sea foam should not be considered harmless either, having been implicated in rescues and tragic cases of drowning in the past.

    In the long term, coastal erosion due to storm surges and powerful surf can create permanent changes, impacting infrastructure and changing the location and strength of rip currents – the number-one coastal drowning hazard.



    Read more:
    Can you spot a rip current? Test your knowledge with our interactive quiz

    Don’t be that idiot

    Having a cyclone this far south is a rare event, so it’s only natural for people to want to take a look. But sometimes there’s no safe viewing distance, and the safest place to be is at home.

    Unsafe behaviours in and around the surf are rife on social media. Mainstream media outlets often model unsafe behaviours too, with reporters delivering their “piece to camera” about the importance of staying away from the beach while themselves standing on the shore.

    Conditions are unpredictable. These include powerful waves and storm surges that can knock you off your feet and sweep you out to sea.

    Remember, emergency services are stretched right now. If you get into trouble in the surf, there may be no one to rescue you. Or untrained bystanders may come to your aid and get into trouble themselves.

    With numerous flood warnings in place and roads closed, as well as the risks present on the coast, it’s best to stay away from beaches, rock platforms and coastal areas for now. Hit the waves again when conditions have calmed down.



    Read more:
    Just 15 centimetres of water can float a car – but we are failing to educate drivers about the dangers of floodwaters

    Amy Peden receives funding from the Australian National Health and Medical Research Council, Surf Life Saving Australia and the NSW National Parks and Wildlife Service. She maintains an honorary (unpaid) affiliation with Royal Life Saving Society – Australia.

    – ref. ‘Don’t be that idiot’: surfing in a cyclone could cost you $16,000 or your life – https://theconversation.com/dont-be-that-idiot-surfing-in-a-cyclone-could-cost-you-16-000-or-your-life-251706

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Tech chief visits Portugal

    Source: Hong Kong Information Services

    Secretary for Innovation, Technology & Industry Prof Sun Dong toured the largest Portugese science and technology park and incubator during his visit to Lisbon, Portugal, yesterday.

     

    Prof Sun, together with a delegation of Hong Kong’s innovation and technology (I&T) sector, explored Taguspark to ascertain its latest effort in pooling technology companies to move in, developing applied science and technology and promoting economic activities.

     

    He then met representatives of the Oeiras Valley Investment Agency where he received a briefing on its work in promoting the municipality’s economic growth and attracting investment.

     

    He also exchanged views with the agency on the collaboration between the innovative parks of Hong Kong and Portugal, as well as investment and exchanges among enterprises in the two places.

     

    In the evening, the technology chief met Ambassador Extraordinary & Plenipotentiary of the People’s Republic of China to the Portuguese Republic Zhao Bentang.

     

    He briefed Mr Zhao on the Hong Kong Special Administrative Region Government’s initiatives to promote I&T and develop new industrialisation in its quest to support the city’s economic growth. They also explored ways to enhance Hong Kong’s co-operation with Portugal in I&T.

     

    Prof Sun plans to return to Hong Kong tomorrow.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Digital economy focus of China-EU cooperation: forum

    Source: China State Council Information Office

    The 2025 Global Digital Economy Conference (GDEC)’s International Cooperation Forum series was held in Barcelona, Spain, on March 4.

    GDEC’s International Cooperation Forum series held in Barcelona, Spain, on March 4. [photo provided to China.org.cn]

    Themed “Integration, Innovation, Win-Win: Co-creating a New Blueprint for the China-Europe Digital Economy,” the Digital Economy Cooperation Forum was hosted by the GDEC Organizing Committee, and organized by the Beijing Municipal Bureau of Economy and Information Technology (BMBEIT).

    The event attracted more than 150 government representatives, corporate executives, industry association leaders from China, Spain and other European countries, and more than 60 overseas companies and institutions participated in it.

    During the forum, the organizer held more than 20 government-enterprise matchmaking events, and the parties had in-depth exchanges on cutting-edge issues in the digital economy and reached a number of cooperation intentions.

    This year marks the 20th anniversary of the establishment of the China-EU comprehensive strategic partnership and the 50th anniversary of the establishment of diplomatic relations between China and the European Union. The forum, with the digital economy as the link, has effectively promoted China-EU digital friendly exchanges and practical cooperation.

    In the Barcelona forum, Meng Yuhong, consul general of the Chinese Consulate General in Barcelona, said that China is willing to share development opportunities with the world and advocate inclusive economic globalization.

    Facing the opportunities and challenges brought by digitalization, the international community should strengthen dialogue and exchanges, deepen pragmatic cooperation, and work together to build a more fair, reasonable, open, inclusive, secure, stable and vibrant cyberspace, Meng added.

    Jiang Guangzhi, the BMBEIT chief, delivered an opening speech in the form of digital human. In his address, Jiang said that the capital city of China, as a pioneer in the global digital economy, actively implements the national digital economy development strategy, and Barcelona, as the core hub of the European digital economy, has obvious advantages in science and technology industry clusters. The two cities have broad prospects for cooperation in the field of digital economy.

    Mario Rubert, director of Barcelona Chamber of Commerce, said in his speech that the Barcelona City Government regards China as a strategic priority. Nearly 20 years ago, the local government was very forward-looking and became the first Spanish public institution to establish a Chinese commissioner, laying a solid foundation for the long-term friendly cooperation between the two sides.

    Joan Romero, executive director of ACCIÓ, an agency of the Government of Catalonia to promote business competitiveness through innovation and internationalization, said China is a leading country in science and technology and a benchmark, expressing the hope that the Catalonia region can strengthen cooperation with China in the economic, technological and social fields.

    The Barcelona forum was the first time that GDEC had set up a branch venue in Europe. It was held in the Spanish city at the same time as Mobile World Congress. It was the first time that the two major international conferences joined hands, creating a new paradigm for cooperation.

    On the sidelines of the forum, BMBEIT also held a business and investment promotion activity called “Night of Beijing” in the Spanish city.

    Relevant persons in charge of the BMBEIT promoted Beijing’s leading digital technology solutions in key digital economy industries such as autonomous driving, smart logistics, smart home, digital healthcare, and value-added telecommunications, combining core technologies, application scenarios, international promotion, and effectiveness cases.

    Those participating in the activity think that it promoted the precise connection between industry-leading enterprises and leading technologies between China and the West, and between China and the EU, and it also provided innovative ideas and practical samples for the development of the global digital economy.

    The GDEC has been successfully held for four sessions since 2021. It is committed to promoting more comprehensive international cooperation in the digital economy industry and promoting the friendly and sustainable development of the global digital ecology. The 2025 GDEC will be held in Beijing in July.

    MIL OSI China News –

  • MIL-OSI China: ‘High fences and small yards’ ‘decoupling’ cannot impede China’s tech progress: FM

    Source: China State Council Information Office

    “High fences and small yards” cannot suppress the spirit of innovation, and decoupling and supply chains disruption will only lead to self-isolation, Chinese Foreign Minister Wang Yi said Friday.

    Speaking at a press conference on the sidelines of the annual session of the country’s national legislature, Wang said science and technology should not be used to put up an iron curtain, but should be the wealth that benefits all and is shared by all.

    “Where there is blockade, there is breakthrough; where there is suppression, there is innovation,” said Wang in responding to a question on U.S. tech suppression on China.

    Noting that unjustified external suppression on China, be it in space science or chip making, has never stopped, Wang said China’s path to becoming a science and technology powerhouse is growing wider.

    MIL OSI China News –

  • MIL-OSI USA: Murkowski Questions FDA Nominee

    US Senate News:

    Source: United States Senator for Alaska Lisa Murkowski
    03.06.25
    Washington, DC – U.S. Senator Lisa Murkowski (R-Alaska) today questioned the President’s nominee to be Commissioner of the Food and Drug Administration (FDA), Martin Makary, during his appearance before the Health, Education, Labor, and Pensions (HELP) Committee. Murkowski raised the FDA’s handling of the Vaccine Advisory Committee, the handling of clinical trials for rare diseases, and funding for state and local governments to conduct food safety inspections.
    Full Transcript:
    Senator Murkowski: Doctor, welcome, it was a good conversation that we had, and I appreciated that. I thank you for the encourage to read that provision in your book, it was great airplane reading for me.
    Dr. Makary: Thank you, Senator.
    Senator Murkowski: I also want to thank you for the assurance you gave to Senator Collins regarding the Vaccine Advisory Committee, and ensuring there would be meetings going forward. I think for several of us who had I thought good substantive conversations with Secretary Kennedy, we had received assurances about things like the vaccination committee. So, we’re making sure again that important input goes forward is important to many of us, so I appreciate that.
    I wanted to talk to you this morning about an issue we discussed in my office, and that is with regards to ALS. The FDA’s accelerated approval pathway has really been important, and I think very promising for treatments for ALS and some other rare diseases. You have advocated for using common sense alongside science in regulatory decisions. So, very briefly, how do we define common sense here as it applies to the regulatory decisions of the FDA. How do we make sure that ALS patients who are looking at a very, very limited time frame, they can’t wait for the traditional approval process, there are some emerging measures using digital technologies, is this in your realm of common sense? Give me a little bit of insight here on how you would like to proceed on these approval pathways.
    Dr. Makary. Thank you, Senator. I very much enjoyed our time together, and talking through a bunch of these issues. We have to customize the regulatory process to the condition that we’re trying to be able to offer hope, so, if a condition affects 19 people in the world as a partial triplication chromosome 15 disorder does, or a disease that affects 52 kids in the world, we cannot require two randomized control trials. We have to customize the regulatory process to what we’re trying to do if our goal is to try to provide safe and effective therapies. So, I do believe firmly in that approach, and I do think we can use some commons sense to ask some big questions we’ve never asked before at the FDA. Why does it take 10 years for a drug to get approved? Why does a college student who suffers from chronic abdominal pain for years, and we have no idea what’s going on, and they go to Italy for a summer and they are suddenly cured of their abdominal pain? Why does a peanut allergy medication that’s been safe with data for decades get approved in Europe before the United States when nearly 10% of our population has a food allergy? So, I do think there’s a lot of areas where we can ask, does a drug need to be prescription, when it could be over-the-counter, why are requiring continuous glucose monitors to have a Doctor’s prescription when it’s good for people to use these monitors and learn about what they’re eating. We don’t just want to limit continuous glucose monitoring to people with diabetes, we want to prevent diabetes when 30% of our nation’s children has diabetes or pre-diabetes or some form of early insulin resistance. Why are we holding these tools to help people, empower them about their health, until after they’re sick, same with continuous blood pressure monitoring.
    Senator Murkowski: Well, as you point out, why do we wait. We want to make sure that there is a level of safety, that’s the job there through the FDA. But, again, being able to accelerate these in ways that are meaningful, and to your point, that actually fit with the population that you’re speaking to. So know that I’m going to be pushing you on this, as well as many other advocates out there.
    Dr. Makary: Thank you.
    Senator Murkowski: I want to quickly ask you about food safety inspections. State and local governments conduct about 60% of food processing facility inspections, 90% of produce safety inspections, 100% of retail food inspections. What has happened is we have seen in the Biden Administration, FDA planning to cut funding for state and local food safety programs. This impacts us in the state of Alaska when it comes to our seafood industry, and in other areas. So, I’m looking for a commitment from you that under the Trump Administration, the FDA is going to maintain funding for these contracts with state and local governments. They’ve proven that it’s more cost effective, more efficient, and it also is what Congress has asked for. So I’d like to know that you’re going to be supportive in that regard to state and local governments.
    Dr. Makary: I’m happy to look at that with you, Senator.
    Senator Murkowski: Very good. Thank you, Mr. Chairman. 

    MIL OSI USA News –

  • MIL-OSI China: World’s fastest high-speed train undergoing type tests in Beijing

    Source: China State Council Information Office 2

    This photo shows the CR450AF bullet train in Beijing, capital of China, Dec 29, 2024. [Photo/Xinhua]
    Prototypes of the world’s fastest high-speed train, the CR450, with a test speed of up to 450 km per hour and an operational speed of 400 km per hour, are now undergoing type tests on Beijing’s ring railways for future commercial services.
    The new trains debuted in Beijing on Dec. 30, 2024. They are significantly faster than the CR400 Fuxing high-speed trains currently in service, which operate at a speed of 350 kilometers per hour.
    Wang Feng, vice president of the train producer, CRRC Corporation Limited, emphasized that the CR450 represents an all-round leap in high-speed train theory, technology, equipment, standards, and operational management, Science and Technology Daily reported on Thursday.
    To reach the unprecedented operational speed of 400 km per hour, engineers upgraded traction capacity, dynamic performance, and pantograph systems, Wang explained.
    The train employs a water-cooled permanent magnet traction system, a new-generation high-stability bogie, and multi-system innovations to sustain its high-speed operations, according to Wang.
    Safety is bolstered by multi-level emergency braking control technology and over 4,000 onboard monitoring sensors. These track key systems, including running gears, car body, high-voltage pantographs, train control and fire detection systems, in real time. An over-the-horizon system has also enhanced recognition of track emergencies, he said.
    Regarding energy savings, a streamlined cowling design on the bogies significantly cuts air resistance, while new lightweight technologies and materials reduce the train’s weight by 10 percent and lower running resistance by 22 percent, Wang noted.
    Noise reduction techniques further distinguish the model. Seven innovative technologies, including sound-absorbing materials and optimized aerodynamic shapes, reduce cabin noise by 2 decibels, offering passengers a quieter, smoother ride, Wang added.
    Furthermore, intelligent upgrades enable the CR450 to outperform other models in areas such as operation and control, driver interaction, safety monitoring, and passenger services, he said. 

    MIL OSI China News –

  • MIL-OSI China: Colleges open AI classes to meet market demand

    Source: China State Council Information Office 2

    Chinese universities are accelerating efforts to integrate education with artificial intelligence, with more AI colleges opening to cultivate interdisciplinary talent and more general AI courses and textbooks introduced.
    Tsinghua University, one of China’s top schools, recently announced it will increase its undergraduate admissions by about 150 students this year and establish a new undergraduate college for general AI education. The students will enroll in the new program, which aims to integrate AI across multiple disciplines.
    The initiative pools academic resources from various fields, seeking to develop students with a solid foundation in AI, high proficiency in AI technologies and strong innovative capabilities, the university said. The move is part of Tsinghua’s efforts to advance AI-related professional training and support China’s push for high-level scientific and technological self-reliance and self-strengthening, according to Xinhua News Agency.
    As AI rapidly evolves, reshaping education and driving socioeconomic development, the need for individuals with comprehensive AI knowledge and skills is becoming increasingly urgent.
    Wang Xuenan, deputy director at the Digital Education Research Institute of the China National Academy of Educational Sciences, told China Central Television the number of students majoring in AI was estimated at more than 40,000 last year, yet “the number still falls far short of the needs of the industry.”
    Market consultancy McKinsey& Company estimates that China will need 6 million professionals with proficient AI knowledge by 2030.
    In November 2023, a talent training initiative on collaborative research in general AI was jointly launched by the Beijing Institute for General Artificial Intelligence, Peking University, Shanghai Jiao Tong University and 13 other leading universities. Zhu Songchun, director of the Beijing institute and dean of the School of Intelligent Science and Technology at Peking University, told Guangming Daily that the plan will leverage the resources of these universities to create a training system that seamlessly connects undergraduate and doctoral education.
    In September last year, Nankai University and Tianjin University introduced a general AI course through a massive open online course, or MOOC, targeting more than 100,000 undergraduates in Tianjin. The course covers AI’s basic principles and history while exploring cutting-edge generative AI models and their applications in healthcare, intelligent manufacturing and autonomous driving, according to Xu Zhen, director of the department of higher education at the Tianjin Municipal Education Commission.
    Zhejiang University announced in March that it will lead an upgrade of the “AI plus X” micro program in collaboration with Fudan University, Nanjing University, Shanghai Jiao Tong University and the University of Science and Technology of China. The country’s first micro program integrating AI with other disciplines, it aims to bridge technology with fields such as humanities, social sciences, agriculture, medicine and engineering.

    MIL OSI China News –

  • MIL-Evening Report: ‘Icarus of the deep’: how a dying anglerfish became a social media sensation

    Source: The Conversation (Au and NZ) – By Prema Arasu, Postdoctoral Research Fellow, Minderoo-UWA Deep-Sea Research Centre, The University of Western Australia

    David Jara Boguñá / Instagram

    In February, researchers from conservation organisation Condrik Tenerife were about two kilometres off the coast of Tenerife Island, looking for sharks, when they caught sight of something much stranger.

    Photographer David Jara Boguñá filmed a humpback anglerfish (Melanocetus johnsonii, a species of black seadevil) swimming near the surface in sunlit waters. These fish have never before been seen alive in daylight, as they normally dwell in the “twilight zone” at depths from 200m to 600m.

    The video has provoked an enormously empathetic response on social media, with some seeing the fish as a feminist icon or an Icarus-like figure who swam too close to the Sun. The reaction shows our views of the deep sea – long ignored or seen as a realm of monsters – may at last be changing.

    The strange lives of anglerfish

    Anglerfish are much smaller than you probably think they are. The specimen Boguñá filmed was a female, which typically grow up to 15cm long.

    The creatures are named for their bioluminescent lure (or esca). This modified dorsal fin ray can produce a glow used to fish (or angle) for prey in the dim depths of the sea. The bioluminescence is produced by symbiotic bacteria that live inside the bulbous head of the esca.

    Male anglerfish lack the iconic lure and are much smaller, usually reaching a length of only 3cm.

    A male anglerfish spends the first part of his life searching for a female to whom he will then attach himself. He will eventually fuse his circulatory system with hers, depending on her entirely for nutrients, and live out his life as a parasite or “living testicle”.

    It is unknown why this fish was swimming vertically near the surface. Researchers have speculated that the behaviour may have been related to changes in water temperature, or that the fish was simply at the end of her life.

    Watchers observed the fish for several hours, until it died. Its body was preserved and taken to the Museum of Nature and Archaeology in Santa Cruz de Tenerife, where it will be further studied.

    Sympathy for the seadevil

    The video quickly went viral, inspiring countless reaction videos, artworks, memes, a Pixar-style animation and a poem titled Icarus is the Anglerfish.

    One Reddit user commented:

    I like to think she is a respected old grandmother who has dreamed her entire life of seeing the sunlight and the world above the water. She knows her time is nigh so she bade farewell to her friends and family and swam up towards the light and whatever it might hold for her as her life as an anglerfish comes to a close.

    One person described the fish as her “feminist Roman Empire”, in the sense of an inspirational obsession that filled the same role for her that the Roman Empire supposedly does for many men.

    Boguñá and Condrik Tenerife have since commented on the public reaction. (The original post is in Spanish, but Instagram’s automated English translation is below.)

    He’s become a global icon, that’s clear. But far from the romanticisation and attempt to humanise that has been given to its tragic story, I think that what this event has been for is to awaken the curiosity of the sea to PEOPLE, especially the younger ones, and perhaps, it also serves that messages about marine ecosystem conservation can reach so many more people.

    From horrors to heroes

    The outpouring of empathy for the anglerfish is unexpected. With their glowing lures and fang-filled mouths, the creatures have long been archetypal horrors of the abyss.

    As I have written elsewhere, the anglerfish’s extreme sexual dimorphism and parasitism, along with its unsettling anatomy, have made it the “iconic ambassador of the deep sea”. Anglerfish or angler-inspired aliens have appeared as antagonists in films such as Star Wars Episode I: The Phantom Menace (1999), Finding Nemo (2003), The SpongeBob SquarePants Movie (2004) and Luca (2021).

    Star Wars film The Phantom Menace features a large anglerfish-inspired sea monster.
    Disney

    The reception of “Icarus” (as some call her) in popular culture indicates a perhaps surprising capacity for empathy toward animals that aren’t conventionally cute or beautiful. It stands in stark contrast to the fate of the deep-sea blobfish Psychrolutes marcidus, which in 2013 was voted the world’s ugliest animal.

    Perhaps the name is a clue: people have seen in the fish a creature striving to reach the light, who died as a result of her quest.

    But does our projection of human emotions and desires onto non-human animals risk misunderstanding scientific reality? Almost certainly – but, as US environmental humanities researcher Stacy Alaimo has argued, it may also have benefits:

    Deep-sea creatures are often pictured as aliens from another planet, and I think that gets people interested in them because we’re all interested in novelty and weirdness and the surreal […] I think that can be positive, but the idea of the alien can also cut us off from any responsibility.

    The deep sea and its inhabitants face growing threats from seabed mining, plastic pollution, and the effects of human-induced climate change. They need all the empathy they can get.

    Prema Arasu 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. ‘Icarus of the deep’: how a dying anglerfish became a social media sensation – https://theconversation.com/icarus-of-the-deep-how-a-dying-anglerfish-became-a-social-media-sensation-251603

    MIL OSI Analysis – EveningReport.nz –