NewzIntel.com

Category: Transport

  • MIL-OSI Security: Enfield — Update: RCMP appeals to public for information in relation to missing person Paul Freel

    Source: Royal Canadian Mounted Police

    East Hants District RCMP continues to request the public’s assistance in locating 45-year-old Paul Joseph Freel, of East Uniacke, who was reported missing on April 13.

    Freel is described as 5 foot 11 and approximately 250 lbs. He has brown hair and brown eyes, and tattoos on his arms. He was last seen wearing a white t-shirt, blue jogging pants, and blue running shoes with yellow and white accents. He is believed to currently have notches shaved or plucked into his eyebrows.

    He was last seen on April 4, 2025, at approximately 5:35 pm in the East Uniacke area.

    Investigators have located the vehicle that Freel was driving when he was last seen, a grey 2013 Nissan Rogue, abandoned on a logging road off East Uniacke Road.

    Officers from East Hants District RCMP and neighbouring detachments, RCMP Ground Search and Rescue Incident Commanders, RCMP Police Dog Services, RCMP Remotely Piloted Aircraft Systems (drones), and RCMP Air Services have all been engaged in the efforts to locate Freel.

    Anyone with information on the whereabouts of Paul Freel is asked to refrain from approaching him and to contact the East Hants District RCMP at 902-883-7077 or local police. To remain anonymous, contact Nova Scotia Crime Stoppers at 1-800-222-TIPS (8477), submit a tip online at www.crimestoppers.ns.ca, or use the P3 Tips app.

    MIL Security OSI –

  • MIL-Evening Report: Lest we forget? Aside from Anzac Day, NZ has been slow to remember its military veterans

    Source: The Conversation (Au and NZ) – By Alexander Gillespie, Professor of Law, University of Waikato

    Fiona Goodall/Getty Images

    Following some very public protests, including Victoria Cross recipient
    Willie Apiata handing back his medal, the government’s announcement of an expanded official definition of the term “veteran” brings some good news for former military personnel ahead of this year’s ANZAC Day.

    The change will add roughly 100,000 service people and remove an anomaly that favoured those who served overseas, unless they served in New Zealand before 1974 when the Accident Compensation Corporation was founded. The new definition will not automatically change existing entitlements, but the government has expressed commitment to improving veterans’ support.

    The government will also establish a new national day of tribute for veterans. This falls somewhat short of a recommendation from the 2018 independent review of the Veterans’ Support Act which stated the government should accept it has a “moral duty of care to veterans”. But if adopted, this would create a missing ethical compass all democracies should have to acknowledge responsibilities to those who risked everything in service of their country.

    The same report also recommended better financial support for veterans, but so far the government has been reluctant to review the adequacy of veterans’ pensions.

    None of this is particularly surprising, given New Zealand’s history of sending people to fight and then rejecting their claims for recognition and compensation when the war is over.

    Some of this may also come to light in the Waitangi Tribunal’s current Military Veterans Kaupapa Inquiry, with potentially strong evidence of discrimination against Māori service personnel in particular.

    Sacrifice and compensation

    When New Zealand gave out its first military pensions in 1866, only the victors of the New Zealand Wars received them. For Māori allies, equity was missing. Pro-government Māori troops were eligible, but at a lower rate than Pākehā veterans.

    It was only in 1903 that specialist facilities such as the Ranfurly war veterans’ home in Auckland were created.

    The initial treatments for those who suffered “shell shock”, especially in the first world war, were atrocious. Their placement in mental institutions only ended following public outcry.

    Some veterans of the New Zealand Wars were compensated by being granted confiscated Māori land. It wasn’t until 1915 that a new system was formalised.

    This provided farm settlement schemes and vocational training for first world war veterans. The balloted farmland was largely exclusionary as Māori veterans were assumed to have tribal land already available to them.

    The rehabilitation of disabled service personnel dates back to the 1930s, before being formally legislated in 1941. But the focus faded over the following decades, with the specific status of veterans blurring as they were lumped in with more generic welfare goals.

    It took until 1964 for the government to pay war pensions to those who served in Jayforce, the 12,000-strong New Zealand troops stationed in Japan as part of the postwar occupation from 1946 to 1948.

    From atomic tests to Agent Orange

    British hydrogen bombs were tested over Kiritimati in 1957.
    Wikimedia Commons, CC BY-SA

    A decade later, more than 500 New Zealand navy personnel took part in Operation Grapple, the British hydrogen bomb tests near Kiribati in 1957–58. Despite evidence of a variety of health problems – including cancer, premature death and deformities in children – it was not until 1990 that the government extended coverage of benefits to veterans who had contracted some specific listed conditions.

    It took another eight years before the government broadened the evidence requirements and accepted service in Operation Grapple as an eligibility starting point for additional emergency pensions.

    Last year, the United States declared a National Atomic Veterans’ Day and made potentially significant compensation available. But neither New Zealand nor Britain even apologised for putting those personnel in harm’s way so recklessly.

    During the war in Vietnam, some of the 3,400 New Zealanders who served between 1963 and 1975 were exposed to “Agent Orange”, the notorious defoliant used by the US military.

    Some of them and their children experienced related health problems and higher death rates. The government did not accept there was a problem until 2006 and apologised in 2008.

    Assistance and compensation was based on evidence of specific listed conditions. And although the list has expanded over time, the legal and medical burden of proving a link between exposure and an illness falls on the veteran.

    This is the opposite of what should happen. If there is uncertainty about the medical condition of a veteran, such as a non-listed condition, it should be for the Crown to prove an illness or injury is not related to military service. This burden should not fall on the victim.

    Lest we forget

    Today, support for veterans remains limited. There is still a reluctance to systematically understand, study and respond to the long-term consequences of military service.

    For many, service develops skills such as resilience, confidence and flexibility which are sought after in civilian life. For some, their experiences lead to lingering trauma and even self-harm or suicide.

    While Britain and Australia can track the incidence of veteran self-harm, New Zealand lacks robust data. Beyond some early research, the prevalence of suicide in the veteran population is unknown.

    Despite recommendations from the 2018 report that this data gap should be plugged, it means that when three self-inflicted deaths of veterans occurred within three weeks earlier this year, this couldn’t be viewed within any overall pattern. This makes appropriate support and interventions harder to design.

    This all points to the same problem. While we intone “lest we forget” on April 25, a day later most of us are looking the other way.

    Alexander Gillespie 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. Lest we forget? Aside from Anzac Day, NZ has been slow to remember its military veterans – https://theconversation.com/lest-we-forget-aside-from-anzac-day-nz-has-been-slow-to-remember-its-military-veterans-254684

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: How branding made Francis the ‘People’s Pope’

    Source: The Conversation – Canada – By Aidan Moir, Assistant Professor, Department of Communication, Media and Film, University of Windsor

    From papal selfies to the viral generative AI images featuring a stylish puffer jacket, Pope Francis became a prominent popular culture figure during his papacy.

    News media called him the “People’s Pope,” branding that also circulated online on social media to turn Pope Francis into an icon who symbolized the progressive ideals of 2010s popular culture.

    His 2013 election was significant for many reasons, including the fact that he became the first Jesuit and first pope from Latin America. His acension to the papacy represented an attempt by the Catholic Church to rebrand itself through Francis’s “progressive” public image.

    The Catholic Church as an institutional brand has been at the centre of numerous scandals and controversies after committing grave injustices for generations.



    Read more:
    ‘I am sorry’ — A reflection on Pope Francis’s apology on residential schools

    Pope Francis, on the other hand, became what branding expert Douglas Holt calls an “iconic brand.” These are entities that serve as powerful symbols that reflect cultural myths and ideals.

    Just like politicians or celebrities, popes also need branding to develop their public identities.

    Branding and the papacy

    Pontiffs have always been subject to branding, making them unique subjects for public fascination and popular culture. Decisions about what shoes to wear and what papal name to take are in fact acts of branding.

    Pope Francis chose his papal name to align himself with Saint Francis of Assisi. He also chose to wear a simple white cassock for his first public appearance on the balcony at St. Peter’s Basilica. These decisions were branding strategies.

    Francis’s use of social media brought the papacy into a new digital age. It provided him with a platform to build his brand in a manner similar to politicians.

    His embrace of technology made him appear “cool,” leading to a decade of viral social media posts and memes. The first papal selfie, taken in 2013 with teenage pilgrims visiting the Vatican, went viral on Twitter.

    Iconic brands cannot act alone to maintain their cultural status. As Holt explains, they depend on “co-authors” to create myths that connect brands with the public. Co-authors are media texts or cultural groups circulating stories that give meaning to iconic brands.

    From the outset, news media were an integral part of building the pope’s image. Francis was Time magazine’s 2013 Person of the Year, and graced the cover of Rolling Stone.

    He was largely unknown around the globe prior to becoming pope. Media coverage played an important role in presenting his brand to global audiences as news reports suggested Francis’s humility, compassion for the poor and radical approach to the papacy would transform the Catholic Church.

    Just days after his election, The Washington Post labelled Francis “the People’s Pope.” This title connected Francis to figures likes Princess Diana, a similar iconic figure known for challenging protocol and her progressive charity work who was dubbed “the People’s Princess.”



    Read more:
    Pope Francis has died, aged 88. These were his greatest reforms – and controversies

    A ‘progressive’ image

    After legacy media bolstered his iconic brand as “the People’s Pope,” Pope Francis reinforced this messaging through strategic, selective actions.

    Francis became pope during Barack Obama’s presidency in the United States. The two men shared some similarities, including representing different “firsts.”

    Francis was aware of his iconic brand as “the People’s Pope.” Like Princess Diana, this branding allowed him to appeal to a global audience, regardless of religious affiliation.

    His first official trip was to the Mediterranean island of Lampedusa, holding mass for asylum-seekers and migrants.

    His response of “who am I to judge?” to a media question about the Catholic Church’s position on 2SLGTBQ+ issues gained positive media coverage.

    In 2015, Francis published his first papal encyclical focused on the connection between climate change and global poverty.

    Pope Francis developed an iconic brand that connected with the public during a decade defined by progressive ideals as legacy and social media worked together as co-authors in building his identity.

    Iconic brands can transform the institutions they represent. Pope Francis’s image demonstrates how papal branding is no different than other forms of branding. It depends on different dynamics coming together at the right moment to form myths for public connection.

    Memes related to the movie Conclave are already going viral on social media. The new pontiff will enter a different cultural landscape than Pope Francis, but the strategies for creating an iconic brand remain the same.

    Aidan Moir previously received funding from the Social Sciences and Humanities Research Council of Canada.

    – ref. How branding made Francis the ‘People’s Pope’ – https://theconversation.com/how-branding-made-francis-the-peoples-pope-254981

    MIL OSI – Global Reports –

  • MIL-OSI Russia: World Economic Outlook Press Briefing

    Source: IMF – News in Russian

    April 22, 2025

    Speakers:

    Pierre‑Olivier Gourinchas, Director, Research Department, IMF
    Petya Koeva Brooks, Deputy Director, Research Department, IMF
    Deniz Igan, Division Chief, Research Department, IMF

    Moderator:
    Jose Luis De Haro, Communications Officer, IMF   

    Mr. De Haro: OK. I think we can start and we have a quorum. So good morning, everyone, and welcome. I want to welcome also those joining us online. I am Jose Luis de Haro with the Communications Department at the IMF and we are gathered here today for the presentation of our latest edition of the World Economic Outlook titled, “A Critical Juncture Amid Policy Shifts.” I hope by this time you all have had access to the document. If not, I am going to encourage you, as always, to go to IMF.org. There, you are going to find the document, the World Economic Outlook, also Pierre‑Olivier’s blog and many other assets, including the underlying data for some of the charts that are published on the World Economic Outlook.

    I also want to plug in that we have a new database portal that I encourage you to use, and what’s best, that to discuss the new outlook that having here with us today, Pierre‑Olivier Gourinchas. He is the Economic Counsellor, the chief economist, and the Director of the Research Department. Next to him are Petya Koeva Brooks, she is the Deputy Director of the Research Department and last, but not least, we also have Deniz Igan, she is the division chief also with the Research Department.

    Pierre‑Olivier, as usual is going to start with some opening remarks, and then we are going to open the floor to your questions. I just want to remind everyone that this press briefing, it’s on the record and that we also have simultaneous translation.

    So let me stop here. Pierre‑Olivier, the floor is yours.

    Mr. Gourinchas: Thank you, Jose. And good morning, everyone. The landscape has changed since our last World Economic Outlook update in January. We are entering a new era as the global economic system that has operated for the last 80 years is being reset. Since late January, many tariff announcements have been made, culminating on April 2, with near universal levies from the United States and counterresponses from some trading partners. The U.S. effective tariff rate has surged past levels reached more than 100 years ago, while tariff rates on the U.S. have also increased.

    Beyond the abrupt increase in tariffs, the surge in policy uncertainty is a major driver of the economic outlook. If sustained, the increasing trade tensions and uncertainty will slow global growth significantly. Reflecting this complexity, our report presents a reference forecast which incorporates policy announcements up to April 4 by the U.S. and trading partners. Under these reference forecasts, global growth will reach 2.8 percent this year and 3 percent next year, a cumulative downgrade of about 0.8 percentage points relative to our January 2025 WEO update. Our report also offers a range of forecasts under different policy assumptions.

    Under an alternative path that excludes the April tariff announcements, global growth would have seen only a modest downgrade to 3.2 percent this year. We will also use a model‑based forecast to incorporate the temporary suspension of most tariffs announced on April 9, together with the increase in bilateral tariffs between China and the U.S. to prohibitive levels. This pause, even if extended permanently, delivers a similar growth outlook as a reference forecast, 2.8 percent, even if some highly tariffed countries could benefit.

    Now, while global growth remains well above recession levels, all regions are negatively impacted this year and next. And the global disinflation process continues, but at a slower pace with inflation revised up by 0.1 percentage point in both years. These trade tensions will greatly impact global trade. We project that global trade growth will be more than cut in half from 3.8 percent last year to 1.7 percent this year. The tariffs will play out differently in different countries. For the United States, the tariffs represent a supply shock that reduces productivity and output permanently and increases price pressures temporarily. This adds to an already weakening outlook and leads us to revise growth down by 0.9 percentage points to 1.8 percent, with a 0.4 percentage point downgrade from the tariffs only. While inflation is revised upwards.

    For trading partners, tariffs act mostly as a negative external demand shock. Weakening activity and prices, even if some countries could benefit from trade diversion. This is why we have lowered our China growth forecast this year to 4 percent, while inflation is revised down by 0.8 percentage points, increasing deflationary pressures. All countries are negatively affected by the surge in trade policy uncertainty, as businesses cut purchases and investment, while financial institutions reassess their borrowers’ exposure. Uncertainty also increases because of the complex sectoral disruptions that tariffs could cause up and down supply chains, as we saw during the pandemic.

    The effect of these shocks on exchange rates is complex. The tariffs could appreciate the US dollar, as in previous episodes. However, greater policy uncertainty, lower U.S. growth prospects, and an adjustment in the global demand for dollar assets are weighing down on the dollar.

    Risks to the global economic have increased and are firmly to the downside.

    First, while we are not projecting a global downturn, the risks it may happen this year have increased substantially, from 17 percent projected back in October to 30 percent now. An escalation of trade tensions would further depress growth. Financial conditions could also tighten, as markets react negatively to diminished growth prospects and increased uncertainty. On the flip side, growth prospects could immediately improve if countries ease from their current trade policy stance and promote a new, clear, and stable trade environment.

    Addressing domestic imbalances can also help raise growth while contributing significantly to closing external imbalances. For Europe, this means spending more on public infrastructure to accelerate productivity growth. For China, it means boosting support for domestic demand. While for the U.S., it means stepping up fiscal consolidation.

    Turning to policies. Our recommendations call for prudence and improved collaboration. Let me outline some key ones. First, an obvious priority is to restore trade policy stability. The global economy needs a clear, stable, and predictable trading environment, one that addresses some of the longstanding gaps in international trading rules. Monetary policy will need to remain agile and respond by tightening where inflation pressures re‑emerge, while easing where weak demand dominates. Monetary policy credibility will be key, especially where inflation expectations might de‑anchor. And central bank independence remains a cornerstone.

    Many fiscal authorities will face new spending needs to bolster defense spending or to offset the trade dislocations, likely to come. Some of the poorest countries also hit with reduced official aid could experience debt distress. Yet debt levels are still elevated and most countries still need to rebuild fiscal space, including by implementing structural reforms. Support, where needed, should remain narrowly targeted and temporary. It is easier to turn on the fiscal tap than to turn it off. Where new spending needs are permanent, as for defense spending in some countries, planning for offsetting cuts elsewhere or new revenues should be made.

    Finally, even if some of the grievances against our trading system have merit, we should all work toward fixing the system so that it can deliver better opportunities to all. Thank you.

    Mr. De Haro: Thank you, Pierre‑Olivier. Before we open the floor to your questions, some ground rules. First of all, if you want to ask a question, raise your hand. If I call on you, please identify yourself and the media outlet you represent. Try to be succinct. Stick to one question. We want to answer as many questions as possible.

    And also, a reminder. We are here to discuss the World Economic Outlook. Those questions regarding country programs, institutional issues are going to be better placed for the regional press briefings that are happening later this week and also the Managing Director’s press briefing this Thursday.

    With that said, I want hands up. OK. So I am going to start here in the center. Then I am going to move the room to my left. Then to my right. I am going to start with the lady with the green jacket there.

    QUESTION: Thank you.. Thanks so much for doing this.

    Pierre‑Olivier, I wonder if you can speak a little bit to the fact that you haven’t called out a recession. And you know, we are hearing lots of economists in the United States and other places‑‑most recently yesterday, the IIF is now also forecasting a small recession in the second half of the year. What we see in the WEO is that the percentage of risk of a recession has increased pretty dramatically. Can you walk us through why you are not at this point calling a recession, for instance, likely in the United States and what it would take to tip it that way? Thanks.

    Mr. Gourinchas: Thank you, Andrea.

    So for the United States, we are projecting a significant slowdown. We are projecting growth will be at 1.8 percent in 2025. And that’s a 0.9 percentage‑point slowdown‑‑revision in our projections from January. But 1.9 percent is obviously not a recession. And the reason for this is is that we have a U.S. economy that, in our view, is coming from a position of strength. We had an economy that was growing very rapidly. We have a labor market that is still very robust. We have seen some signs of weakening and slowdown in the U.S. economy, even before the tariff announcements. So, in fact, the 0.9 percentage point downward revision that I just mentioned, only a part of this‑‑maybe 0.4 percentage points‑‑is coming from the tariffs. Some of that is also coming from weakening momentum. This was an economy that was doing very, very well but was self‑correcting and cooling off a bit on its own. And we were seeing already consumption numbers coming down. We are seeing consumer confidence coming down. So all of that was already factored in. But we are not seeing a recession in our reference forecast.

    As you mentioned, Andrea, we are‑‑when we do our risk assessment, if you want, we are seeing the probability of a recession increasing, from about 25 percent back in October to around 40 percent when we assess it now.

    Mr. De Haro: OK. I am going to move to this side. The lady here in red.

    QUESTION: Good morning.

    Pierre, I wanted to ask you about the downward pressure on the dollar now. To what extent you believe it can provide some relief from the pressure on highly indebted emerging economies with a large share of dollar‑denominated debt? And has this downward pressure on the dollar changed your outlook on all of those emerging economies that are still, you know, under the impact of the high debt‑‑as mentioned by the MD in previous meetings, where this high debt is really one of the impediments to growth? Thanks.

    Mr. Gourinchas: Yes. So we are seeing a weakening of the dollar that is fairly broad‑based over the last few weeks, as I mentioned in my opening remarks, some of that is coming from the weaker growth prospects in the U.S. Some it is coming from the increased uncertainty. And it’s leading to a reassessment of the global demand for dollar assets. When we step back, we also have to realize we are coming from a position where, over the last few years, there have been tremendous capital inflows into U.S. markets, in particular, risk markets. That’s something that, of course, my colleague Tobias Adrian will talk about in the GFSR press conference. So we are seeing some adjustment, some contradiction. The markets are handling it. We don’t see signs of stress, even in currency markets.

    Now, the interesting development is, what does it mean for emerging markets? And you are right to point out that, in the past, when the dollar would strengthen, that would not necessarily be good news for emerging markets because they have dollar‑denominated debts, so that increases their liabilities and the pressure on them to service their debts. And this can lead to some tightening of financial conditions. So we are not seeing that right now. And so that’s a plus. The flip side of this is, of course, the appreciation of some of these emerging markets’ currencies means that they are also losing a little bit on the competitiveness side, so there is maybe something that is a bit easier on the finance conditions, something that is not as easy on the trade side.

    Finally, this is an environment of enormous uncertainty, increased volatility. And that I think is something that will dominate for many of the emerging markets. So when we are looking at our assessment, we are actually downgrading the emerging market economies for 2025 and 2026, most of them. Some of them may, as I mentioned, benefit. But overall, as a group, they are downgraded. While because they are also very plugged into the global supply chains, the uncertainty is leading to a pause in investment and activity, and they are going to suffer from the decline in demand for their products coming from the tariffs.

    Mr. De Haro: OK. I am going to go with the gentleman here with the glasses.

    QUESTION: Thank you. I just have one question. Could you elaborate a little bit on what will happen with the trade flows in your models? I saw that in the basic assumption, the exports from the U.S. are [breaking quite heavily but not that much from China. Why is this so?

    And do I understand it right that this basic model does not yet integrate the additional hikes after ‑‑ happening after basically April 9, so above 100 percent on import tariffs by the U.S.? Thanks.

    Mr. Gourinchas: So we are seeing a large impact on global trade coming from the tariffs and that’s going to be the case under any combination of tariffs where the effective tariff rates remains very elevated. And the reason why when we looked at the different scenarios that I mentioned, whether it’s a reference scenario or our April 9 scenario which includes lower tariffs on many countries but sharply increased tariffs between the U.S. and China. The overall impact on the global economy is not very different because the effective tariff rate is, if anything, even higher under that pause. So global trade is going to be significantly affected. The particular configuration of trade, which bilateral trade flows are going to be affected versus others that will depend on the final landscape in terms of tariffs so we can anticipate that there will be much lower bilateral trade under either the reference scenario or the April 9, between the U.S. and China. And that is weighing down on global trade growth. This is weighing down on global trade generally.

    Mr. De Haro: OK. I am going to turn here to the center. I am going to go to the first row. I am going to go with the lady with the yellow bottle.

    QUESTION: Thank you,

    You have downgraded the U.K.’s growth forecast quite sharply and given the range of explanations, from higher tariff barriers to more domestic issues, like cost‑of‑living pressures. Out of those, so the global challenges versus domestic challenges, which one is weighing more heavily on the U.K.’s growth forecasts?

    Mr. De Haro: OK we are going to open the round of U.K. questions so if you have questions on the U.K., raise your hand. And I will pass the mic to you. I see  two there. Yep.

    QUESTION: Hi.

    In a world where everyone is warning about the impact of tariffs on U.S. inflation and how much it will raise U.S. prices, why do you have the U.K. with the highest inflation rate in the G‑7 this year? And do you believe tariffs will be inflationary or disinflationary for the U.K.?

    Mr. De Haro: OK. Joe here in the first row.

    QUESTION: Yeah. Thank you. Thank you very much. So Joel hills from ITV news. Obviously it’s impacting the tariffs are impacting the U.K. They are impacting most countries. I just wonder this, President Trump did say there would be some disruption. He suggested it would be sort of temporary. Is it possible that President Trump is actually a genius? That he knows something you do not?

    Mr. De Haro: And I think we have a last question on the U.K. and this is going to be the last question on the U.K. There on the back of the room.

    QUESTION: Yeah.

    The U.K. inflation forecast is, you know, much higher than we expected it to be, 0.7 percent higher. Is that going to impact on lowering interest rates in the U.K.? And does that affect the growth rate, which seems to be rather optimistic, compared with some of the other European countries?

    Mr. De Haro: OK. We are going to be done with the U.K. questions and then we will move along. So Pierre‑Olivier.

    Mr. Gourinchas: Thank you. So many questions. Let me address them as best I can. First, on the revision for growth in the U.K. and inflation. So the tariffs are playing a role, as they are in most countries and uncertainty is also playing a role, as it is in all countries. And it’s weighing down on growth in the U.K. But there are some U.K.‑specific factors and I would say that in terms of the zero point 5 percentage point downward revision that we are saying for the U.K., the domestic factors are probably the biggest ones. And in particular, there is a lower carryover from weaker growth in the second half of last year. There is also some tightening of financial conditions, as interest rates have risen, longer‑term interest rates.

    On inflation, the revision in inflation in the U.K. is coming, again, from domestic factors, and in particular some change in regulated energy prices. So that’s expected to be temporary but it’s also very U.K.‑specific. The effect of the tariffs on countries like the U.K., like it is on the EU or China is like a negative demand shock. It’s weakening activity but it’s also lowering price pressures, not increasing them.

    Now, what is the impact of the tariffs in the medium and long term? Not just what’s going to happen this year and next but what’s going to happen longer term? Our assessment is it’s going to be negative. We have a box in our report that looks at the long‑term impact of the tariffs, if they are maintained. And it is negative for all regions, just like the short‑term impact. So we are seeing a negative impact in the short term, in the medium term, in the long term. Again, there are nuances. Some countries might benefit, depending on the particular configuration of tariffs. It might benefit from some trade diversion; but the broad picture is it’s negative for the outlook.

    Now, our ‑‑ and I will end with that. Our forecast for 2025 is slightly higher than OBR’s forecast. Some of this has to do with some of the underlying monetary policy assumptions for the U.K. The bank‑‑

    Our assumption for this year is that there are going to be four cuts through the year. One cut already happened. We expect three more.

    Mr. De Haro: Thank you, Pierre‑Olivier. I am not going to forget about the people that are on WebEx, and I am going to pass a question there. I see Anton from TAS.

    QUESTION: Good morning. Thank you for doing this.

    Given the projected slowdown of Russia’s GDP growth from 4.1 in 2024 to 1.5 in 2025, what are the primary factors driving this sharp decline? And how sustainable is Russia’s growth model going forward? Thank you.

    Mr. De Haro: Go ahead.

    Mr. Gourinchas: Petya, would you like to answer?

    Ms. Koeva Brooks: Sure. We are indeed expecting a slowdown in growth to 1.5 this year, and this, to a large extent is kind of the natural slowing of the economy after growing quite robustly in previous years. And also as a result of policy tightening that we have seen, both on the fiscal as well as on the monetary policy side. It is also due to the lower oil prices that have come about as a result of the‑‑as a response to the round of tariffs, as well as the uncertainty about global growth. So all these factors are behind that lower growth number, although I should point out that it is actually a slight upward revision, relative to what we had back in January. And the reason for that is that, again, we actually had seen upward surprises in 2024, which kind of carried into 2025.

    When it comes to the medium‑term growth outlook, we do expect that to be relatively weak. We are‑‑we have penciled in growth number of about 1.2, which is down from 1.7 which is what we had before the start of the war.

    Mr. De Haro: OK. Let’s continue. I am going to go again in the center and then I am going to go to that side. The lady with the glasses there.

    QUESTION: Hi.

    In Latin America, we received almost every country 10 percent. So I want to know about the impact of the tariffs in Latin America and if the impact is going to be limited, versus other regions, and when we are going to start to feeling this impact. Thank you.

    Mr. De Haro: And before we answer the question, are there any questions on Mexico, Brazil, Argentina? OK. Argentina friends, go ahead.

    QUESTION: Hello.

    You’ve kept 5.5 growth projection that was decided in the latest program that Argentina signed with the IMF. I would like to know why you are not seeing so much impact yet about‑‑of this general context.

    Mr. De Haro: OK. We can go ahead first with the Latin America overview and then we can go to Argentina.

    Mr. Gourinchas: I will just say something briefly and then ask my colleague Petya to come in. So for Latin America, as a whole, we are saying activity that is largely driven by consumption on the back of resilient labor markets while investment remains somewhat sluggish. And the slowdown in our projection reflects the impact of tariffs and the global growth slowdown, of course, which is also affecting countries in the region. Policy uncertainty. And the withdrawal of fiscal stimulus and in some countries monetary policy tightening.

    Ms. Koeva Brooks: I don’t have a lot to add. Just to say that the disinflation process has also slowed a bit, and this is also‑‑also makes the policy trade‑offs a bit more complicated with slow‑‑with growth slowing down and at the same time, you know, having still challenges on the inflation side.

    Mr. De Haro: OK. So we are going to move on. I am going to ask the gentleman in the first row there because‑‑

    Oh, sorry. Sorry. I forgot about Argentina. Please go ahead.

    Ms. Koeva Brooks: We cannot forget about Argentina.

    So the growth forecast for this year‑‑you are right‑‑we still have the upgrade of .5. And this is related to just the positive surprises that we had seen, in spite of a very strong fiscal adjustment, the recovery in confidence I think has definitely played a role in kind of driving us to have this forecast. That said, there are a number of risks related to tighter financial conditions, commodity prices, and a lot of others, which is true for many if not most other countries.

    Mr. De Haro: OK. So now we can move on. I am going to go with the gentleman in the first row.

    QUESTION: Thank you. In the October 2024 outlook you saw a stable but slow growth for Africa. What’s new now? And what kind of initiatives like the African Continental Free Trade Area do for African economies amidst these trade tensions?

    Mr. De Haro: And before we answer, I think‑‑

    QUESTION: Hi. Good morning.

    One of the things that you mentioned in your report is the demographic shift and the rise in the silver economy. Africa, on the other hand, has the reverse of that. So what is your recommendation in the short and medium term on how to deal with some of these challenges pertaining to tariffs, monetary policy, and now currency exchange? Thank you.

    Mr. De Haro: OK.

    Mr. Gourinchas: OK. Thank you. I will just say one word about the outlook in sub‑Saharan Africa and then I will ask my colleague Deniz to come in to add more color and answer also the question on the demographic trends.

    So regional growth in sub‑Saharan Africa improved significantly last year, to 4 percent. And it will ease in 2025. And this is in line with a softer global outlook. So we are seeing the same forces at play in the region, as we are seeing more globally. And a downturn‑‑and a downward revision in our projection that is of a similar magnitude at about 0.4 percentage point. Deniz?

    Ms. Igan: Thank you for the question. So on the demographic shifts, our Chapter 2 basically points out that countries’ age structures are evolving at different rates, as you pointed out as well. We have most western economies, some Asian economies that are aging fast. And you know in a health way some of them. And then we have many sub‑Saharan African countries that have a very young population. And what the chapter shows is actually, there are important medium‑term consequences of that, both for growth, as well as external balances of countries.

    In Africa’s case, basically, what we would see is a demographic dividend coming from having a young population. And the question then becomes how best to leverage that, how best to use that and channel it into growth. And the answer there, first and foremost, depends on the structural reforms, the investment that’s necessary on healthcare, on education, on human capital more generally and also international cooperation because our Chapter 3 looks more carefully into migration flows. And again, there, we see migration policy shifts in destination countries has spillovers for other countries. And this is especially true for emerging market economies and lower income economies. So, again, international cooperation there, making sure that growth dividends are utilized in the best way is what we delve into in the chapter.

    Mr. De Haro: OK. I am going to go to the gentleman with‑‑raise your hand. Yeah. You. No, I am going back. Then I will go‑‑there you go.

    QUESTION: OK. I have a question about China’s growth.

    In your World Economic Outlook, you say China’s growth forecast has been cut to 4 percent for this year, which is a 0.6 percentage drop from an earlier projection. But China’s National Bureau of Statistics a couple of days ago predicted China’s growth GDP growth in the first quarter was 5.4 percent. So my question is, how do you see the disparity in the forecast? Is China more optimistic than you are? Thank you.

    Mr. Gourinchas: Thank you. So, yes, we are revising our growth projections for China down by 0.6 percentage points, as you have noted. I should flag that this number does not incorporate the latest release for Q1. That came after we closed our round of projections. So this is not reflected there. And we will have to see how it affects our projections when we have our next round of WEO updates.

    But let me give you a little bit of perspective on the rationale behind our revision for China. The tariff increase in tariffs especially since China is one of the countries that is facing the most elevated tariffs right now, is going to have a very significant impact in our projections on the Chinese economy. In fact, when we do a decomposition, which I showed during my opening remarks, the impact of the tariffs on the Chinese economy would be a negative 1.3 percentage point revision on growth.

    So why do we only have 0.6? Well, because there are other factors that are helping to support Chinese growth in 2025 and 2026. One of which‑‑which is quite important‑‑is the fiscal support that has been announced since the beginning of the year. And that is adding up, something of the amount of 0.5 percentage points. So the impact of the current trade tensions is very significant. It’s partly offset. We expect it to remain quite significant also in 2026 when we also have a downward revision by about 0.5 percentage points.

    The other side of this, where we are seeing the impact of the tariffs is on inflation, which is revised down. Our headline inflation projection for 2025 is actually at zero. So it’s down from 0.8 percent to zero. So China is facing stronger deflationary forces as a result of these trade tensions.

    Mr. De Haro: OK. I am going to move to this side. The gentleman with the glasses here.

    QUESTION: What impact did the oil price also have in exporting and importing countries in the Middle East? Thank you.

    Mr. De Haro: Go ahead.

    Mr. Gourinchas: So we have seen oil prices declining since our last projections, and the decline in oil prices in our and our interpretation is coming mostly from weaker global demand, so it’s the weakening of global activity that is driving the decline in prices. There has been some increase in supply coming from OPEC Plus countries, but broadly speaking, the decline is mostly coming from weaker demand.

    So that is going to play out in ways you sort of would expect. The commodity exporters are going to face lower export revenues from the decline in oil prices. That’s going to weigh on their fiscal outlook, on their growth.

    For those countries that are oil importers, it’s going to lower inflation pressures because that‑‑lower oil prices is going to feed into lower headline inflation. It’s going to also provide some modest support to economic activity there.

    Deniz, anything to add on oil prices or‑‑or Petya?

    Ms. Koeva Brooks: No, I don’t.

    Mr. De Haro: OK. We are going to move to the center. I am going to get the gentleman with the white shirt there.

    QUESTION: h I am not going to ask another question about the U.K., you will be pleased to know. Over the last week we have seen a number of attacks by the White House on the independence of the Federal Reserve. How destabilizing do you think this might be for financial markets?

    Mr. Gourinchas: So central banks are facing a delicate moment. As I have explained in many countries, the impact of the tariffs is going to be to increase recessionary forces and it is going to lower price pressures. And that will help central banks cut interest rates faster and provide some support to their economies. But in other countries ‑‑ and in our projections, the U.S. is in that category‑‑the tariffs are going to increase price pressures. Price pressures in the U.S. are increasing for other reasons as well. Service prices have been quite‑‑inflation of service prices have been quite strong. And that is something that we are seeing already. But the tariffs are likely to increase price pressures. We are projecting inflation to remain at 3 percent in the U.S. this year, the same level as last year, headline inflation.

    So in that context, if you also think about where we are coming from, we are coming from a period of very elevated inflation. We are just coming off the cost‑of‑living crisis, a surge in inflation rates to double digits that we haven’t seen in more than a generation. So the critical thing is to make sure that inflation expectations remain anchored, that everyone remains convinced that central banks will do what is necessary to bring inflation back to central bank targets in an orderly manner. And central banks have instruments to do this. They have their interest rate instruments. They have various instruments of monetary policy. But one critical aspect of what they do is coming from their credibility. So central banks need to remain credible. And part of that credibility is built upon their central bank independence. And so from that perspective, it’s very important to preserve that.

    Mr. De Haro: OK. We are going to have time for two questions. One of them is going back to WebEx. I see Weier, please. Come in.

    QUESTION: Yes.I have a question.

    You mentioned that the global economic system is being reset. And I am not sure if one of the early signs in the financial markets, as we see that the markets moving from American exceptionalism to the sort of sell the U.S. narrative. So could you assess the implications for the financial markets and the world economy, as a whole?

    Mr. Gourinchas: Yeah, well we have seen some volatility in the markets, of course, whenever there is going to be potentially a significant change in the economic structure of the global economy. I think we are bound to see some reassessment. And investors are going to try to figure out what’s happening, and that’s going to inject volatility. And we are seeing some of that.

    The good news is a lot of that volatility we have seen in the last few weeks has not led to significant market dislocations or market stress to levels that would, for instance, have necessitated the interventions by central banks around the world.

    So whether you are looking at equity markets, whether you are looking at bond markets, whether you are looking at currency markets, what we are saying is a reassessment of the world we are in now and that means that there is a reassessment of valuations of risk assets, of different currencies. But that is happening in an orderly manner. So from that perspective, we are seeing a system that is quite resilient, that remained resilient but, of course, we are watching carefully and there has been some tightening of financial conditions and that’s something to be looking out for. We want to make sure that it doesn’t get to a level where the stress in the financial system would become too extreme.

    Mr. De Haro: OK. The lady here in the first row has been waiting patiently. Please go ahead.

    QUESTION: Thank you, Jose. I want to ask about the trading tensions impact on low‑income countries. You mentioned there are like downgrading for emerging markets but how about like those small countries who have lower income as a group, have you assessed the particular impact on them in these ongoing trade tensions? Thank you.

    Mr. Gourinchas: OK. Well thanks. For low‑income countries as a group, we are also seeing a downgrade in which we report in our report of 0.4 percentage points. We are expecting growth of 4.2 percent in 2025. So the 0.4 is very similar to what we are seeing at the aggregate levels, 0.5. So from that perspective it looks quite the same. However, there are also a lot of differences across countries, and when we look more carefully, you might see some vulnerable countries, especially in sub‑Saharan Africa. But elsewhere as well‑‑who could face very challenging conditions as a result of the tariffs in an environment in which many of the countries, low‑income countries have been facing a funding squeeze for a number of years now, private capital flows to this region have been drying up or have been coming on very expensive terms. We are seeing a drying up also of some official aid flows. So some of these countries have very limited fiscal space. Near a situation where the situation could become more challenging.

    Now, on the flip side, the fact that we are seeing commodity prices coming down for many commodities will help some of them. The commodity importers in that group will hurt the ones who are commodity exporters. And there are a number of countries among the low-income group that are commodity exporters, so that is adding some additional pressure on them.

    Mr. De Haro: I am going to make an exception and just one last question. I am going to go with the gentleman in the white shirt there. He has been waiting patiently, too. And don’t get frustrated. There are going to be many opportunities for you to ask questions.

    QUESTION: Thank you, Jose. AFP.

    I had a quick question about Spain because that’s the only countries among advanced economies where you had an upward revision. It’s going to be way better than the eurozone and even better than other advanced economies. What are the underlying reasons for that? And you formally talked much about tourism but are there any other things that might be pointed out? Thank you.

    Mr. Gourinchas: Yes, indeed. Spain is doing better than its peers. Petya, would you like to talk about it?

    Ms. Koeva Brooks: Sure. Indeed. We are actually having an upgrade for Spain this year, which is a rare occurrence in the many, many downgrades that we have had for many other countries. This is partly because the Spanish economy just had such strong momentum in 2024, coming into 2025. And part of that was due to the very strong services exports as well as the very strong labor accumulation. Part of that related to immigration. But all of that being said, Spain is still being affected indirectly and directly by the tariffs and the uncertainty associated with that. It’s just that, as I said, that underlying [strength is kind of having a bigger impact in the near term. But then again, in 2026, we do project kind of a slowing of growth to about 1.8.

    Mr. De Haro: OK. And on that point, I want to thank you, everyone, on behalf of Pierre‑Olivier, Petya, Deniz, the Research Department, the Communications Department. Some reminders. Next press briefing is going to happen in this same room, Global Financial Stability Report, please stay tuned. Tomorrow you have the Fiscal Monitor, and then later in the week, you have the Managing Director’s press briefing and also all the regional press briefings that we have been talking about. Thank you very much for your time. If you have questions, comments, send them my way to media@imf.org and hopefully you have a great week. I am sure it’s going to be busy.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Jose De Haro

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

    https://www.imf.org/en/News/Articles/2025/04/22/tr-04222025-weo-press-briefing

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA: ON EARTH DAY, CASTEN, SCHATZ INTRODUCE LEGISLATION TO ADDRESS THE COSTS AND FINANCIAL RISKS OF CLIMATE CHANGE

    Source: United States House of Representatives – Representative Sean Casten (IL-06)

    April 22, 2025

    Washington, D.C. – U.S. Representative Sean Casten (D-IL-06) and U.S. Senator Brian Schatz (D-Hawai‘i) introduced the Climate Change Financial Risk Act, legislation that directs the Federal Reserve to conduct stress tests on large financial institutions to measure their resilience to climate-related financial risks.

    “Risk is risk—we should not be treating some risks different from others just because they’re hard to quantify. Federal regulators are legally obligated to ensure a stable and efficient financial system, and that means reducing the risk of a climate-driven financial crisis,” said Senator Schatz. “Instead of taking steps to reduce the risks facing communities across the country from increasingly frequent and severe extreme weather and disasters—including significantly higher costs for homeowners insurance—the Trump administration is trying to roll back our progress in the climate fight and gut the programs that will make us safer.”

    “Climate change poses a grave and imminent threat to the stability of our financial system. It is essential that our regulators establish parameters so that our financial institutions adequately prepare for and respond to these risks, and that they do so before the next extreme weather crisis strikes,” said Representative Casten. “Our bill will move us toward safeguarding our financial systems—from short-term climate impacts, such as direct uninsured losses from wildfires, hurricanes, and flooding events, as well as from long-term global shifts to a net-zero economy, which may require a reshaping of a bank’s lending and investment activities.”

    Climate change is increasing the frequency and severity of extreme weather events like floods and wildfires. It is also changing long-term climate patterns in ways that will ultimately affect every sector of our economy. Financial institutions face the risk of direct losses from severe weather events and fundamental changes like drought and sea level rise—for example, lower property values from increased flooding. They also face risks from market instability, an erosion of investor confidence, and changes in carbon-intensive asset values resulting from government policies and consumer preferences. 

    These risks to our financial system are critical for financial institutions to measure and manage, as recognized in the pilot climate scenario analysis exercise that the Federal Reserve conducted in 2023 and the Principles for Climate-Related Financial Risk Management for Large Financial Institutions published by agencies in 2023. The Office of the Comptroller of the Currency announced in March 2025 that it was withdrawing from its participation in these principles. The Climate Change Financial Risk Act will make sure that financial institutions manage climate risks with stress tests that quantify and measure their resilience.

    The Climate Change Financial Risk Act would require the Federal Reserve to create climate change scenarios for financial stress tests, with input from federal scientific agencies and an advisory group of climate scientists and climate economists. The Federal Reserve would then conduct stress tests every two years on the largest financial institutions. The biennial tests will require each covered institution to create and update a resolution plan, which will describe how the institution plans to evolve its capital planning, balance sheet and off-balance sheet exposures, and other business operations to respond to the most recent test results. Federal Reserve objections to a resolution plan would limit the institution’s ability to proceed with capital distributions until it improves its plan. The Federal Reserve will also partner with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to design a survey to assess the ability of a broader set of financial institutions to withstand climate risks. 

    Casten and Schatz’s legislation is cosponsored by U.S. Senators Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.), Chris Van Hollen (D-Md.), Sheldon Whitehouse (D-R.I.), Patty Murray (D-Wash.), Martin Heinrich (D-N.M.), and Cory Booker (D-N.J), and U.S. Representatives Stephen Lynch (D-Mass.), Emanuel Cleaver (D-Mo.), Jared Huffman (D-Calif.), Kevin Mullin (D-Calif.), Sarah Elfreth (D-Md.), and Salud Carbajal (D-Calif.).

    “Those of us in the West are already experiencing the cost of climate inaction firsthand – from higher home insurance rates and utility bills for hardworking families to lower profits for producers. As the impacts of climate change intensify, we need to do everything we can to make our local economies more resilient for families, workers, and small businesses,” said Senator Heinrich. “This Earth Day, I’m proud to introduce the Climate Change Financial Risk Act with Senator Schatz to protect New Mexicans from the costly consequences of worsening climate change by strengthening the ability of our financial institutions to withstand extreme weather events like prolonged droughts and wildfires, which can trigger market instability and shake investor confidence.”

    “Trump’s Dirty Energy First strategy is fanning the flames of climate chaos, and it’s essential to understand the risk that poses to our major financial institutions,” said Senator Merkley. “We must not ignore the danger climate change poses to the economic security of hardworking Americans.”

    The Climate Change Financial Risk Act is supported by the League of Conservation Voters, Ceres, the Sierra Club, Public Citizen, and Americans for Financial Reform.

    “US regulators must get back in the business of managing the systemic financial risks posed by increasing floods, fires, and storms,” said Steven M. Rothstein, Managing Director of the Accelerator for Sustainable Capital Markets, Ceres. “We commend Senator Schatz and Representative Casten for reintroducing this legislation and laying out a clear role for the Federal Reserve Board to address climate-related financial risks. This legislation will provide the clarity and analysis needed to ensure the financial industry makes informed decisions that protect individual institutions from climate-related shocks and insulate the financial system from widespread loss.”

    “As financial regulators retreat under political pressure, this bill represents a much-needed step to ensure our financial system is better prepared for the growing risks of climate change. Investors need regulators to provide clear, forward-looking assessments of systemic risk — and to ensure that financial institutions aren’t throwing more fuel on the fire of the climate crisis. With climate disasters escalating and financial consequences mounting, leaders at all levels of government must act to build a more stable and sustainable financial system. We applaud Sen. Schatz and Rep. Casten for their continued leadership to make that happen,” said Ben Cushing, Sustainable Finance Campaign Director, the Sierra Club.

    The full text of the bill is available here.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: First Results from the Eclipse Soundscapes Project: Webinar on May 7

    Source: NASA

    How do the sudden darkness and temperature changes of a solar eclipse impact life on Earth? The Eclipse Soundscapes project invited you to document changes in the environment during the week of the April 8, 2024 total solar eclipse, using your own senses or an audiomoth sound recorder. 

    [embedded content]

    Thanks to your participation, the Eclipse Soundscapes team collected 25 terabytes of audio data during the 2023 and 2024 solar eclipses. “It was really empowering for me to participate in a scientific research study with my son beside me so he could see how scientific data can be (collected),” said one Eclipse Soundscapes volunteer.

    Since the eclipse, the Eclipse Soundscapes team has been turning the submitted data into a new, carefully validated data set. They have been assessing recording quality, verifying timestamps, and logging other kinds of information that support the submitted data. With the newly validated data, they are now using machine learning to study wildlife behavior and compare regional differences. They do some of this work using spectrographic analysis—spreading out the sound into different frequency ranges like a prism spreads light into a rainbow. The team is also working to make the validated data freely available to the public on the Zenodo website—a free, open-source research data repository developed by CERN (the European Organization for Nuclear Research) that allows researchers to share and preserve their work, regardless of discipline or format. 
    The team’s first inspection of the data suggests that some species may mimic dusk-like behavior during totality. Want to hear more early results? You can join the team’s live webinar on May 7, 2025, at 2:00 p.m. EST with Dr. Brent Pease. Register now at EclipseSoundscapes.org. You can also explore this interactive map of data analysis sites, with details about each site, including partner organizations.

    MIL OSI USA News –

  • MIL-OSI USA: Entrepreneurs Challenge Winner PRISM is Using AI to Enable Insights from Geospatial Data

    Source: NASA

    NASA sponsored Entrepreneurs Challenge events in 2020, 2021, and 2023 to invite small business start-ups to showcase innovative ideas and technologies with the potential to advance the agency’s science goals. To potentially leverage external funding sources for the development of innovative technologies of interest to NASA, SMD involved the venture capital community in Entrepreneurs Challenge events. Challenge winners were awarded prize money, and in 2023 the total Entrepreneurs Challenge prize value was $1M. Numerous challenge winners have subsequently refined their products and/or received funding from NASA and external sources (e.g., other government agencies or the venture capital community) to further develop their technologies.
    One 2023 Entrepreneurs Challenge winner, PRISM Intelligence (formerly known as Pegasus Intelligence and Space), is using artificial intelligence (AI) and other advances in computer vision to create a new platform that could provide geospatial insights to a broad community.
    Every day, vast amounts of remote sensing data are collected through satellites, drones, and aerial imagery, but for most businesses and individuals, accessing and extracting meaningful insights from this data is nearly impossible.  
    The company’s product—Personal Real-time Insight from Spatial Maps, a.k.a. PRISM—is transforming geospatial data into an easy-to-navigate, queryable world. By leveraging 3D computer vision, geospatial analytics, and AI-driven insights, PRISM creates photorealistic, up-to-date digital environments that anyone can interact with. Users can simply log in and ask natural-language questions to instantly retrieve insights—no advanced Geographic Information System (GIS) expertise is required.
    For example, a pool cleaner looking for business could use PRISM to search for all residential pools in a five-mile radius. A gardener could identify overgrown trees in a community. City officials could search for potholes in their jurisdiction to prioritize repairs, enhance public safety, and mitigate liability risks. This broad level of accessibility brings geospatial intelligence out of the hands of a few and into everyday decision making.
    The core of PRISM’s platform uses radiance fields to convert raw 2D imagery into high-fidelity, dynamic 3D visualizations. These models are then enhanced with AI-powered segmentation, which autonomously identifies and labels objects in the environment—such as roads, vehicles, buildings, and natural features—allowing for seamless search and analysis. The integration of machine learning enables PRISM to refine its reconstructions continuously, improving precision with each dataset. This advanced processing ensures that the platform remains scalable, efficient, and adaptable to various data sources, making it possible to produce large-scale, real-time digital twins of the physical world.

    “It’s great being able to push the state of the art in this relatively new domain of radiance fields, evolving it from research to applications that can impact common tasks. From large sets of images, PRISM creates detailed 3D captures that embed more information than the source pictures.” — Maximum Wilder-Smith, Chief Technology Officer, PRISM Intelligence
    Currently the PRISM platform uses proprietary data gathered from aerial imagery over selected areas. PRISM then generates high-resolution digital twins of cities in select regions. The team is aiming to eventually expand the platform to use NASA Earth science data and commercial data, which will enable high-resolution data capture over larger areas, significantly increasing efficiency, coverage, and update frequency. PRISM aims to use the detailed multiband imagery that NASA provides and the high-frequency data that commercial companies provide to make geospatial intelligence more accessible by providing fast, reliable, and up-to-date insights that can be used across multiple industries.
    What sets PRISM apart is its focus on usability. While traditional GIS platforms require specialized training to use, PRISM eliminates these barriers by allowing users to interact with geospatial data through a frictionless, conversational interface.
    The impact of this technology could extend across multiple industries. Professionals in the insurance and appraisal industries have informed the company how the ability to generate precise, 3D assessments of properties could streamline risk evaluations, reduce costs, and improve accuracy—replacing outdated or manual site visits. Similarly, local governments have indicated they could potentially use PRISM to better manage infrastructure, track zoning compliance, and allocate resources based on real-time, high-resolution urban insights. Additionally, scientists could use the consistent updates and layers of three-dimensional data that PRISM can provide to better understand changes to ecosystems and vegetation.
    As PRISM moves forward, the team’s focus remains on scaling its capabilities and expanding its applications. Currently, the team is working to enhance the technical performance of the platform while also adding data sources to enable coverage of more regions. Future iterations will further improve automation of data processing, increasing the speed and efficiency of real-time 3D reconstructions. The team’s goal is to expand access to geospatial insights, ensuring that anyone—from city planners to business owners—can make informed decisions using the best possible data.

    MIL OSI USA News –

  • MIL-OSI USA: NASA Tests Ultralight Antennas to Benefit Future National Airspace

    Source: NASA

    NASA engineers are using one of the world’s lightest solid materials to construct an antenna that could be embedded into the skin of an aircraft, creating a more aerodynamic and reliable communication solution for drones and other future air transportation options. 
    Developed by NASA, this ultra-lightweight aerogel antenna is designed to enable satellite communications where power and space are limited. The aerogel is made up of flexible, high-performance plastics known as polymers. The design features high air content (95%) and offers a combination of light weight and strength. Researchers can adjust its properties to achieve either the flexibility of plastic wrap or the rigidity of plexiglass.
    “By removing the liquid portion of a gel, you’re left with this incredibly porous structure,” said Stephanie Vivod, a chemical engineer at NASA’s Glenn Research Center in Cleveland. “If you’ve ever made Jell-O, you’ve performed chemistry that’s similar to the first step of making an aerogel.”
    NASA sandwiched a layer of aerogel between a small circuit board and an array of thin, circular copper cells, then topped the design off with a type of film known for its electrical insulation properties. This innovation is known at NASA and in the aviation community as an active phased array aerogel antenna. 

    In addition to decreasing drag by conforming to the shape of aircraft, aerogel antennas save weight and space and come with the ability to adjust their individual array elements to reduce signal interference. They are also less visually intrusive compared to other types of antennas, such as spikes and blades. The finished product looks like a honeycomb but lays flat on an aircraft’s surface.
    In the summer of 2024, researchers tested a rigid version of the antenna on a Britten-Norman Defender aircraft during an in-flight demonstration with the U.S. Navy at Naval Air Station Patuxent River in Maryland.

    Then, last October, researchers at NASA Glenn and the satellite communications firm Eutelsat America Corp., of Houston, began ground testing a version of the antenna mounted to a platform. The team successfully connected with a Eutelsat satellite in geostationary orbit, which bounced a signal back down to a satellite dish on a building at Glenn. Other demonstrations of the system at Glenn connected with a constellation of communications satellites operated in low Earth orbit by the data relay company Kepler. NASA researchers will design, build, and test a flexible version of the antenna later this year.
    “This is significant because we are able to use the same antenna to connect with two very different satellite systems,” said Glenn researcher Bryan Schoenholz. Low Earth orbit satellites are relatively close – at 1,200 miles from the surface – and move quickly around the planet. Geostationary satellites are much farther – more than 22,000 miles from the surface – but orbit at speeds matching the Earth’s rotation, so they appear to remain in a fixed position above the equator.

    The satellite testing was crucial for analyzing the aerogel antenna concept’s potential real-world applications. When modern aircraft communicate with stations on the ground, those signals are often transmitted through satellite relays, which can come with delays and loss of communication. This NASA-developed technology will make sure these satellite links are not disrupted during flight as the aerogel antenna’s beam is a concentrated flow of radio waves that can be electronically steered with precision to maintain the connection.
    As new types of air transportation options are brought to the market and U.S airspace – from the small, piloted aircraft of today to the autonomous air taxis and delivery drones of tomorrow – these kinds of steady connections will become increasingly important. That’s why NASA’s Advanced Air Mobility mission and Transformative Aeronautics Concepts program are supporting research like the aerogel antennas that can boost industry efforts to safely expand the emerging marketplace for these transportation systems.
    “If an autonomous air taxi or drone flight loses its communications link, we have a very unsafe situation,” Schoenholz said. “We can’t afford a ‘dropped call’ up there because that connection is critical to the safety of the flight.”
    Schoenholz, Vivod, and others work on NASA’s Antenna Deployment and Optimization Technologies activity within the Transformational Tools and Technologies project. The activity aims to develop technologies that reduce the risk of radio frequency interference from air taxis, drones, commercial passenger jets, and other aircraft in increasingly crowded airspace.

    MIL OSI USA News –

  • MIL-OSI USA: 2025-55 HAWAIʻI’S FIRST EVER “DO THE WRITE THING” STUDENT AMBASSADOR CHOSEN TO REPRESENT HAWAIʻI AT NATIONAL SUMMIT IN WASHINGTON D.C.

    Source: US State of Hawaii

    2025-55 HAWAIʻI’S FIRST EVER “DO THE WRITE THING” STUDENT AMBASSADOR CHOSEN TO REPRESENT HAWAIʻI AT NATIONAL SUMMIT IN WASHINGTON D.C.

    Posted on Apr 21, 2025 in Latest Department News, Newsroom

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

    DEPARTMENT OF THE ATTORNEY GENERAL

    KA ʻOIHANA O KA LOIO KUHINA

     

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIAʻĀINA

     

    ANNE LOPEZ

    ATTORNEY GENERAL

    LOIO KUHINA

     

    HAWAIʻI’S FIRST EVER “DO THE WRITE THING” STUDENT AMBASSADOR CHOSEN TO REPRESENT HAWAIʻI AT NATIONAL SUMMIT IN WASHINGTON D.C.

    News Release 2025-55

     

    FOR IMMEDIATE RELEASE                                                       

    April 21, 2025

    HONOLULU — In a powerful reflection on the realities of youth violence, Waiʻanae Intermediate School eighth grader Keziah Chloe Bacor was selected to represent Hawaiʻi at the National Do the Write Thing (DtWT) Summit for her personal essay titled, “Why Violence?” The piece was written as part of a classroom assignment challenging students to examine how violence has impacted their lives and what they can do to create change. Keziah becomes Hawaiʻi’s first DtWT student ambassador and will travel to Washington, D.C., this July to share her story on a national stage.

    DtWT is a national writing program that empowers middle school students to become changemakers by exploring the root causes and impacts of youth violence. Through classroom discussions and personal reflection, students write essays responding to three key questions: What are the causes of youth violence? How has violence affected your life? What can you do to reduce youth violence?

    “I am thrilled by the overwhelming success of this program as it engages our youth and inspires future generations to speak out against violence and bullying in their homes, schools and communities,” said Governor Josh Green, M.D.. “Their dedication to promoting peace and addressing youth violence also designates them as Hawaiʻi’s Ambassadors for Peace.”

    “Do the Write Thing is an inclusive and equitable program for all middle school students. The writings submitted aren’t judged by grammar or academic skill, but by the power of the ideas and lived experiences they share. This isn’t a writing contest—it’s a platform for young voices, and a powerful movement for change,” said Amber Moyer, DtWT Program Director, Washington, D.C.

    Keziah’s essay will be published with the writings of her peers from across the country. The anthology is archived at the Library of Congress. The students will also meet with members of Congress to share their perspectives and advocate for a future free from violence during a four-day summit.

    “In the beginning of my eight-grade year, many violent acts occurred in our community. Four shootings happened in a span of four weeks. After that, I’ve never been more careful of my surroundings or my family’s,” said Keziah. “Along with this writing challenge, my classmates and I were able to talk to Congresswoman Jill Tokuda and AG Anne Lopez about what was happening in our community, as well as doing sign waving to promote awareness in front of our school. Doing this allowed me to express my feelings about the violence that I have been bottling up inside me. I never thought I would win this competition but I’m forever grateful that I did. I would tell other students let your emotions out. You don’t have to be scared.”

    The Department of the Attorney General and the Hawaiʻi State Department of Education (HIDOE) launched DtWT at the start of the 2024–25 school year, with Waiʻanae Intermediate serving as the pilot site.

    “This year has presented significant challenges for our community. However, this writing initiative has given our students a voice, empowering our students to become active agents of change,” Wai‘anae Intermediate School Principal John Wataoka said. “Through their reflective work, our students showed a deep consideration of the unseen impacts of violence and were afforded a positive outlet for expressing their feelings, one that often sparks a discourse of ideas toward potential solutions.”

     

    “Each year, millions of young lives are shaped by violence, leaving behind deep physical and emotional scars,” Attorney General Anne Lopez said. “I am thankful to the Department of Education and my staff for their hard work implementing DtWT this school year. Together, we are already looking at expanding the program to other schools across the state. We want it to become a tool and platform for our youth to express their thoughts and ideas in writing about addressing youth violence.”

    From the start of the school year, Waiʻanae Intermediate educator Nicole Kurata guided 27 students through meaningful conversations that encouraged empathy, self-reflection, and a commitment to positive change. Students were invited to submit essays or poems of up to three pages for consideration.

    Essays were reviewed by a selection panel that included Attorney General Lopez; Department of Law Enforcement Director Mike Lambert; HIDOE Deputy Superintendent Heidi Armstrong; Nānākuli-Wai‘anae Complex Area Superintendent Disa Hauge; and Ashley Atisanoe of the Waiʻanae Coast Community Mental Health Center.

    For more information on the national Do the Write Thing Program, visit www.dtwt.org/program. Photos, video and soundbites from today’s ceremony at Washington Place can be found here: https://www.dropbox.com/scl/fo/0dmqmrxecpd9524ptej23/AJBQUafFXUVJxq19w1ZoAXc?rlkey=mj44116a1arukenuolxbluqez&st=rxl6jhtf&dl=0

    # # #

     

    Media contacts:

    Nanea Ching

    Communications Director

    Hawai‘i State Department of Education

    Office: 808-784-6200

    Cell: 808-260-5032

    Email: [email protected]

    Dave Day

    Special Assistant to the Attorney General

    Office: 808-586-1284

    Email: [email protected]

    Web: http://ag.hawaii.gov

     

    Toni Schwartz
    Public Information Officer
    Hawai‘i Department of the Attorney General
    Office: 808-586-1252
    Cell: 808-379-9249
     Email: [email protected] 

    MIL OSI USA News –

  • MIL-OSI USA: Governor Newsom launches first-of-its-kind tool for education and career planning

    Source: US State of California 2

    Apr 22, 2025

    What you need to know: The Cradle-to-Career Data System displays key milestones in students’ experience over time and provides insights about education and career pathways.

    Sacramento, California – Today, Governor Gavin Newsom unveiled a first-of-its-kind informational tool to help students better understand their options for education and career planning. The Cradle-to-Career (C2C) Data System links datasets from K-12 and higher education, social service, and workforce entities to unite information from disconnected data across sectors and provide insights previously unavailable. This system will allow the public, educators, researchers, and policymakers to access detailed information on education and career outcomes, workforce trends, and more – broken down by demographics and region – to illuminate and address areas of strength and needed growth. By linking data from multiple sources, C2C illuminates gaps and identifies opportunities throughout students’ education experiences so they can ultimately reach their goals for life and careers.

    “California is thrilled to launch its first-in-the-nation Cradle to Career Dashboard, a powerful new tool to support every Californian on their path to success. With the C2C Student Pathways Dashboard now live, Californians can visualize their futures by seeing disconnected data from across sectors and previously unavailable insights, all in one place. The Golden State is once again leading the way in innovation, connecting our education system to the workforce to ensure everyone has the freedom to succeed.”

    Governor Gavin Newsom

    Why this matters

    Access to transparent, verified and centralized information about education and workforce outcomes is needed to understand whether efforts to improve student success are working as intended. Students and families often make decisions about education and career pathways with limited and disconnected information about outcomes. The Student Pathways dashboard addresses this information gap.

    “In my quest to find basic information on college-going rates, outcomes or employment prospects, it felt like trying to find a needle in a haystack because of all the different resources. With this tool, I feel that students like me will have the chance to have everything available at their fingers,” said Mike Nguyen, student, University of California Berkeley and Cradle-to-Career Advisory Board Member.

    The Student Pathways dashboard connects the dots between K-12 education to the state’s public college and earnings information to help users like guidance counselors identify the best education options based on the learners’ needs and goals. The resource combines a series of data visualizations and guiding questions to help users understand how Californians are navigating to and through college.

    Through Student Pathways, Californians can analyze:

    • How California students navigate to and through college

    • Who enrolls in college

    • What types of degrees students earn

    • How long it takes students to graduate

    • How much working students earn while enrolled in college

    • How much individuals earn after they graduate

    “In today’s information-driven world, it’s never been more crucial to provide our students, school district leaders and the community with timely, accurate and reliable information to help make informed decisions to improve futures,” said Government Operations Agency Secretary Nick Maduros. “The Cradle-to-Career initiative gives the decision-making power to ALL Californians.”

    “The Student Pathways dashboard combines data-driven insights and thoughtful story telling. Our goal for this tool is to empower individuals to make informed decisions about their lives,” said Mary Ann Bates, executive director at the Office of Cradle-to-Career Data. “We know that stories have the ability to connect, inspire and help us better understand each other. And that’s what Student Pathways does: connect, inspire and understand.”

    A Useful Tool Built by, and for Californians

    Cradle-to-Career heard directly from California’s educators, counselors, students, families, and policymakers. From its creation in 2021, Cradle-to-Career has utilized user-centered design to develop the data system. This approach allows Californians to share their feedback at each phase of the system build. Input from Californians shape Cradle-to-Career’s design and decision making. For example, the dashboard lets users explore information based on school or legislative district. Users can also filter by characteristics like race/ethnicity, gender, or foster youth status. These key features were a direct result of Californians voicing what was important for them.

    Student Pathways is one of eight planned dashboards from Cradle-to-Career. Future iterations of Student Pathways will expand on educational journeys and employment outcomes in both directions, including earlier stages of the K-12 experience and better understanding of workforce training programs. In addition to the dashboards, Cradle-to-Career is developing a query builder and a research request process to provide different levels of user-experience to the dataset. 

    Learn more about Student Pathways HERE.

    Commitment to security and privacy

    The California Cradle-to-Career Data System is the state’s official source of actionable data and research on education, economic, and health outcomes. Cradle-to-Career is committed to protecting and securing confidential records of Californians and follows stringent state, federal and industry standards to ensure data system security and privacy. Learn more about Cradle-to-Career’s security and privacy.

    About the Cradle-to-Career Data System

    Before the Cradle-to-Career Act was signed into law in 2021, California was one of the only states without a longitudinal data system capable of identifying progress over time through multiple stages in individuals’ educational and career journeys. Through an 18-month long public planning process with over 200 individuals representing state entities, community leaders, educators, and members of the public, the blueprint for the state’s longitudinal data system was created.

    The California Cradle-to-Career initiative is a major milestone for the state, uniting existing and verified information across education, social services, and workforce sectors for the first time to help Californians understand their options to build brighter futures.

    The Student Pathways dashboard is powered by existing but previously disconnected data from the California Department of Education, California Community Colleges, California State University, the University of California, and the Employment Development Department.

    News, Press Releases

    Recent news

    Apr 21, 2025

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring April 21, 2025 as “John Muir Day” in the State of California.The text of the proclamation is below: PROCLAMATIONJohn Muir, a Scottish immigrant, helped blaze a trail for…

    Apr 21, 2025

    News California is the first state in the nation to provide an affordable direct-to-consumer drug onlineWhat you need to know: CalRx® Naloxone is now available directly to individuals at the same affordable price of $24 previously offered to businesses, further…

    Apr 21, 2025

    News Sacramento, California – Governor Gavin Newsom issued the following statement today on the passing of Pope Francis:”Jennifer and I join the world in mourning the passing of Pope Francis. He saw God in all His creatures, reminding us of humanity’s obligations…

    MIL OSI USA News –

  • MIL-OSI USA: Marked by Decisive Action and Meaningful Progress: Governor Kehoe’s First 100 Days

    Source: US State of Missouri

    APRIL 22, 2025

    Jefferson City — Today marks 100 days of the Kehoe Administration, a milestone defined by decisive leadership, principled action, and meaningful progress on the issues that matter to Missouri families.

    Since taking the oath of office on January 13, 2025, Governor Mike Kehoe has pursued a conservative, forward-thinking agenda focused on strengthening public safety, expanding educational opportunities and workforce availability, stimulating economic growth, and bolstering agricultural resilience. 

    Governor Kehoe’s inaugural State of the State Address outlined his administration’s priorities, setting the tone for a results-driven, people-first approach. The Governor proposed a conservative and fiscally responsible budget that leaves a significant balance of funds while providing historic support for K-12 education and school choice, public safety, child care, and state team members.

    “As we reach this milestone of 100 days in the Governor’s Office, I am humbled by and proud of the progress we’ve made in a short time,” said Governor Kehoe. “Our focus remains on delivering practical, commonsense solutions that improve the lives of Missourians across our state—and we’re just getting started.” 

    Highlights from Governor Kehoe’s first 100 days include:

    Executive Actions: Governor Kehoe moved quickly to establish key priorities through executive action, reinforcing public safety and streamlining operations to better serve Missourians.

    • Signed six executive orders on Day One, including efforts to combat illegal immigration and support law enforcement to officially launch his comprehensive Safer Missouri initiative and reaffirming the administration’s commitment to public safety.
    • Eliminated Diversity, Equity, and Inclusion (DEI) initiatives in Missouri state agencies, ensuring compliance with the constitutional principle of equal protection under the law.
    • Launched the forward-thinking School Funding Modernization Task Force and Workforce of the Future Challenge to align educational pathways with Missouri’s evolving workforce needs.
    • Coordinated response and recovery efforts to ensure statewide readiness and support for communities affected by severe weather.

    Legislative Achievements: Working in partnership with the General Assembly, the Kehoe Administration has already secured several legislative wins to enhance the lives of Missourians across the state.

    • Signed House Bill 495, equipping law enforcement with the tools they need to crack down on crime and illegal immigration, while establishing a citizen board to oversee the St. Louis Metropolitan Police Department.
    • Signed Senate Bill 4, ensuring safe, reliable, and affordable power is generated right here in Missouri and supporting long-term economic development efforts.
    • Approved the supplemental budget bill for Fiscal Year 2025, allowing current operations of state government to continue, while also strengthening education and special needs services and supporting law enforcement and senior care.

    Gubernatorial Appointments: In his first 100 days, Governor Kehoe has made nearly 100 appointments to boards, commissions, the judiciary, and county-level positions—demonstrating a commitment to experienced leadership, efficient governance, and balanced representation. 

    • Appointed 74 Missourians to serve on various boards and commissions, including 12 appointments to university governing boards.
    • Built out his administration’s Cabinet, with nine department leaders confirmed by the Missouri Senate.
    • Filled eight vacant county offices.
    • Appointed six judicial positions.

    Governor Kehoe and his administration will continue to advance policies grounded in accountability, opportunity, and service to all Missourians.

    For more information on Governor Kehoe’s initiatives and accomplishments, visit governor.mo.gov.

    ###

    MIL OSI USA News –

  • MIL-OSI Security: White Supremacist Receives Life Sentence in Federal Court for Kidnapping and Murder

    Source: Office of United States Attorneys

    FAYETTEVILLE – A California man was sentenced yesterday to life imprisonment without the possibility of parole for Aiding and Abetting the Kidnapping and Murder of a Northwest Arkansas man.  The Honorable Judge Timothy L. Brooks presided over the sentencing hearing, which was held in the U.S. District Court in Fayetteville.

    According to court documents, in November of 2021, the defendant, Daniel Paul Blanks, age 46, and his co-defendant, Reginald Baker, age 37, drove to the Springdale apartment of a Northwest Arkansas resident. Per witnesses, the men, armed with a shotgun, forcefully entered the apartment, assaulted and beat the resident, and then dragged his unconscious body down the exterior staircase of the apartment complex and placed him in the back of Blanks’ truck bed. Blanks and Baker then transported the victim from Arkansas to the Mark Twain National Park, located in Barry County Missouri, where Blanks shot the victim numerous times. The victim’s body lay undiscovered for several days until a hunter located him in a heavily wooded logging road. 

    On November 29, 2021, both Blanks and Baker were charged in the Circuit Court of Washington County, with Capital Murder, Kidnapping, and Residential Burglary. On April 5, 2024, Baker pleaded guilty in Washington County Arkansas Circuit Court to Accomplice to Murder in the 1st Degree, Accomplice to Kidnapping, and Accomplice to Residential Burglary. He was sentenced to a total of 60 years imprisonment. On October 25, 2024, Blanks entered a guilty plea to Aiding and Abetting Kidnapping Resulting in Death, in federal court.  

    During the sentencing hearing, the Honorable Judge Timothy L. Brooks cited Blanks’ affiliation with white supremacist groups as an aggravating factor supporting the imposition of a life sentence.

    This case involving Daniel Blanks was prosecuted in cooperation with the 4th Judicial District Prosecuting Attorney’s Office.

    U.S. Attorney Clay Fowlkes of the Western District of Arkansas made the announcement.

    The Springdale Police Department, Barry County Missouri Sheriff’s Office, the Washington County Sheriff’s Office, the Bentonville Police Department, and the Arkansas Office of Probation and Parole all investigated the case.

    Assistant U.S. Attorney Dustin Roberts prosecuted the case on behalf of the United States.

    Related court documents may be found on the Public Access to Electronic Records website @ www.pacer.gov. 

    MIL Security OSI –

  • MIL-OSI Economics: World Economic Outlook Press Briefing

    Source: International Monetary Fund

    April 22, 2025

    Speakers:

    Pierre‑Olivier Gourinchas, Director, Research Department, IMF
    Petya Koeva Brooks, Deputy Director, Research Department, IMF
    Deniz Igan, Division Chief, Research Department, IMF

    Moderator:
    Jose Luis De Haro, Communications Officer, IMF   

    Mr. De Haro: OK. I think we can start and we have a quorum. So good morning, everyone, and welcome. I want to welcome also those joining us online. I am Jose Luis de Haro with the Communications Department at the IMF and we are gathered here today for the presentation of our latest edition of the World Economic Outlook titled, “A Critical Juncture Amid Policy Shifts.” I hope by this time you all have had access to the document. If not, I am going to encourage you, as always, to go to IMF.org. There, you are going to find the document, the World Economic Outlook, also Pierre‑Olivier’s blog and many other assets, including the underlying data for some of the charts that are published on the World Economic Outlook.

    I also want to plug in that we have a new database portal that I encourage you to use, and what’s best, that to discuss the new outlook that having here with us today, Pierre‑Olivier Gourinchas. He is the Economic Counsellor, the chief economist, and the Director of the Research Department. Next to him are Petya Koeva Brooks, she is the Deputy Director of the Research Department and last, but not least, we also have Deniz Igan, she is the division chief also with the Research Department.

    Pierre‑Olivier, as usual is going to start with some opening remarks, and then we are going to open the floor to your questions. I just want to remind everyone that this press briefing, it’s on the record and that we also have simultaneous translation.

    So let me stop here. Pierre‑Olivier, the floor is yours.

    Mr. Gourinchas: Thank you, Jose. And good morning, everyone. The landscape has changed since our last World Economic Outlook update in January. We are entering a new era as the global economic system that has operated for the last 80 years is being reset. Since late January, many tariff announcements have been made, culminating on April 2, with near universal levies from the United States and counterresponses from some trading partners. The U.S. effective tariff rate has surged past levels reached more than 100 years ago, while tariff rates on the U.S. have also increased.

    Beyond the abrupt increase in tariffs, the surge in policy uncertainty is a major driver of the economic outlook. If sustained, the increasing trade tensions and uncertainty will slow global growth significantly. Reflecting this complexity, our report presents a reference forecast which incorporates policy announcements up to April 4 by the U.S. and trading partners. Under these reference forecasts, global growth will reach 2.8 percent this year and 3 percent next year, a cumulative downgrade of about 0.8 percentage points relative to our January 2025 WEO update. Our report also offers a range of forecasts under different policy assumptions.

    Under an alternative path that excludes the April tariff announcements, global growth would have seen only a modest downgrade to 3.2 percent this year. We will also use a model‑based forecast to incorporate the temporary suspension of most tariffs announced on April 9, together with the increase in bilateral tariffs between China and the U.S. to prohibitive levels. This pause, even if extended permanently, delivers a similar growth outlook as a reference forecast, 2.8 percent, even if some highly tariffed countries could benefit.

    Now, while global growth remains well above recession levels, all regions are negatively impacted this year and next. And the global disinflation process continues, but at a slower pace with inflation revised up by 0.1 percentage point in both years. These trade tensions will greatly impact global trade. We project that global trade growth will be more than cut in half from 3.8 percent last year to 1.7 percent this year. The tariffs will play out differently in different countries. For the United States, the tariffs represent a supply shock that reduces productivity and output permanently and increases price pressures temporarily. This adds to an already weakening outlook and leads us to revise growth down by 0.9 percentage points to 1.8 percent, with a 0.4 percentage point downgrade from the tariffs only. While inflation is revised upwards.

    For trading partners, tariffs act mostly as a negative external demand shock. Weakening activity and prices, even if some countries could benefit from trade diversion. This is why we have lowered our China growth forecast this year to 4 percent, while inflation is revised down by 0.8 percentage points, increasing deflationary pressures. All countries are negatively affected by the surge in trade policy uncertainty, as businesses cut purchases and investment, while financial institutions reassess their borrowers’ exposure. Uncertainty also increases because of the complex sectoral disruptions that tariffs could cause up and down supply chains, as we saw during the pandemic.

    The effect of these shocks on exchange rates is complex. The tariffs could appreciate the US dollar, as in previous episodes. However, greater policy uncertainty, lower U.S. growth prospects, and an adjustment in the global demand for dollar assets are weighing down on the dollar.

    Risks to the global economic have increased and are firmly to the downside.

    First, while we are not projecting a global downturn, the risks it may happen this year have increased substantially, from 17 percent projected back in October to 30 percent now. An escalation of trade tensions would further depress growth. Financial conditions could also tighten, as markets react negatively to diminished growth prospects and increased uncertainty. On the flip side, growth prospects could immediately improve if countries ease from their current trade policy stance and promote a new, clear, and stable trade environment.

    Addressing domestic imbalances can also help raise growth while contributing significantly to closing external imbalances. For Europe, this means spending more on public infrastructure to accelerate productivity growth. For China, it means boosting support for domestic demand. While for the U.S., it means stepping up fiscal consolidation.

    Turning to policies. Our recommendations call for prudence and improved collaboration. Let me outline some key ones. First, an obvious priority is to restore trade policy stability. The global economy needs a clear, stable, and predictable trading environment, one that addresses some of the longstanding gaps in international trading rules. Monetary policy will need to remain agile and respond by tightening where inflation pressures re‑emerge, while easing where weak demand dominates. Monetary policy credibility will be key, especially where inflation expectations might de‑anchor. And central bank independence remains a cornerstone.

    Many fiscal authorities will face new spending needs to bolster defense spending or to offset the trade dislocations, likely to come. Some of the poorest countries also hit with reduced official aid could experience debt distress. Yet debt levels are still elevated and most countries still need to rebuild fiscal space, including by implementing structural reforms. Support, where needed, should remain narrowly targeted and temporary. It is easier to turn on the fiscal tap than to turn it off. Where new spending needs are permanent, as for defense spending in some countries, planning for offsetting cuts elsewhere or new revenues should be made.

    Finally, even if some of the grievances against our trading system have merit, we should all work toward fixing the system so that it can deliver better opportunities to all. Thank you.

    Mr. De Haro: Thank you, Pierre‑Olivier. Before we open the floor to your questions, some ground rules. First of all, if you want to ask a question, raise your hand. If I call on you, please identify yourself and the media outlet you represent. Try to be succinct. Stick to one question. We want to answer as many questions as possible.

    And also, a reminder. We are here to discuss the World Economic Outlook. Those questions regarding country programs, institutional issues are going to be better placed for the regional press briefings that are happening later this week and also the Managing Director’s press briefing this Thursday.

    With that said, I want hands up. OK. So I am going to start here in the center. Then I am going to move the room to my left. Then to my right. I am going to start with the lady with the green jacket there.

    QUESTION: Thank you.. Thanks so much for doing this.

    Pierre‑Olivier, I wonder if you can speak a little bit to the fact that you haven’t called out a recession. And you know, we are hearing lots of economists in the United States and other places‑‑most recently yesterday, the IIF is now also forecasting a small recession in the second half of the year. What we see in the WEO is that the percentage of risk of a recession has increased pretty dramatically. Can you walk us through why you are not at this point calling a recession, for instance, likely in the United States and what it would take to tip it that way? Thanks.

    Mr. Gourinchas: Thank you, Andrea.

    So for the United States, we are projecting a significant slowdown. We are projecting growth will be at 1.8 percent in 2025. And that’s a 0.9 percentage‑point slowdown‑‑revision in our projections from January. But 1.9 percent is obviously not a recession. And the reason for this is is that we have a U.S. economy that, in our view, is coming from a position of strength. We had an economy that was growing very rapidly. We have a labor market that is still very robust. We have seen some signs of weakening and slowdown in the U.S. economy, even before the tariff announcements. So, in fact, the 0.9 percentage point downward revision that I just mentioned, only a part of this‑‑maybe 0.4 percentage points‑‑is coming from the tariffs. Some of that is also coming from weakening momentum. This was an economy that was doing very, very well but was self‑correcting and cooling off a bit on its own. And we were seeing already consumption numbers coming down. We are seeing consumer confidence coming down. So all of that was already factored in. But we are not seeing a recession in our reference forecast.

    As you mentioned, Andrea, we are‑‑when we do our risk assessment, if you want, we are seeing the probability of a recession increasing, from about 25 percent back in October to around 40 percent when we assess it now.

    Mr. De Haro: OK. I am going to move to this side. The lady here in red.

    QUESTION: Good morning.

    Pierre, I wanted to ask you about the downward pressure on the dollar now. To what extent you believe it can provide some relief from the pressure on highly indebted emerging economies with a large share of dollar‑denominated debt? And has this downward pressure on the dollar changed your outlook on all of those emerging economies that are still, you know, under the impact of the high debt‑‑as mentioned by the MD in previous meetings, where this high debt is really one of the impediments to growth? Thanks.

    Mr. Gourinchas: Yes. So we are seeing a weakening of the dollar that is fairly broad‑based over the last few weeks, as I mentioned in my opening remarks, some of that is coming from the weaker growth prospects in the U.S. Some it is coming from the increased uncertainty. And it’s leading to a reassessment of the global demand for dollar assets. When we step back, we also have to realize we are coming from a position where, over the last few years, there have been tremendous capital inflows into U.S. markets, in particular, risk markets. That’s something that, of course, my colleague Tobias Adrian will talk about in the GFSR press conference. So we are seeing some adjustment, some contradiction. The markets are handling it. We don’t see signs of stress, even in currency markets.

    Now, the interesting development is, what does it mean for emerging markets? And you are right to point out that, in the past, when the dollar would strengthen, that would not necessarily be good news for emerging markets because they have dollar‑denominated debts, so that increases their liabilities and the pressure on them to service their debts. And this can lead to some tightening of financial conditions. So we are not seeing that right now. And so that’s a plus. The flip side of this is, of course, the appreciation of some of these emerging markets’ currencies means that they are also losing a little bit on the competitiveness side, so there is maybe something that is a bit easier on the finance conditions, something that is not as easy on the trade side.

    Finally, this is an environment of enormous uncertainty, increased volatility. And that I think is something that will dominate for many of the emerging markets. So when we are looking at our assessment, we are actually downgrading the emerging market economies for 2025 and 2026, most of them. Some of them may, as I mentioned, benefit. But overall, as a group, they are downgraded. While because they are also very plugged into the global supply chains, the uncertainty is leading to a pause in investment and activity, and they are going to suffer from the decline in demand for their products coming from the tariffs.

    Mr. De Haro: OK. I am going to go with the gentleman here with the glasses.

    QUESTION: Thank you. I just have one question. Could you elaborate a little bit on what will happen with the trade flows in your models? I saw that in the basic assumption, the exports from the U.S. are [breaking quite heavily but not that much from China. Why is this so?

    And do I understand it right that this basic model does not yet integrate the additional hikes after ‑‑ happening after basically April 9, so above 100 percent on import tariffs by the U.S.? Thanks.

    Mr. Gourinchas: So we are seeing a large impact on global trade coming from the tariffs and that’s going to be the case under any combination of tariffs where the effective tariff rates remains very elevated. And the reason why when we looked at the different scenarios that I mentioned, whether it’s a reference scenario or our April 9 scenario which includes lower tariffs on many countries but sharply increased tariffs between the U.S. and China. The overall impact on the global economy is not very different because the effective tariff rate is, if anything, even higher under that pause. So global trade is going to be significantly affected. The particular configuration of trade, which bilateral trade flows are going to be affected versus others that will depend on the final landscape in terms of tariffs so we can anticipate that there will be much lower bilateral trade under either the reference scenario or the April 9, between the U.S. and China. And that is weighing down on global trade growth. This is weighing down on global trade generally.

    Mr. De Haro: OK. I am going to turn here to the center. I am going to go to the first row. I am going to go with the lady with the yellow bottle.

    QUESTION: Thank you,

    You have downgraded the U.K.’s growth forecast quite sharply and given the range of explanations, from higher tariff barriers to more domestic issues, like cost‑of‑living pressures. Out of those, so the global challenges versus domestic challenges, which one is weighing more heavily on the U.K.’s growth forecasts?

    Mr. De Haro: OK we are going to open the round of U.K. questions so if you have questions on the U.K., raise your hand. And I will pass the mic to you. I see  two there. Yep.

    QUESTION: Hi.

    In a world where everyone is warning about the impact of tariffs on U.S. inflation and how much it will raise U.S. prices, why do you have the U.K. with the highest inflation rate in the G‑7 this year? And do you believe tariffs will be inflationary or disinflationary for the U.K.?

    Mr. De Haro: OK. Joe here in the first row.

    QUESTION: Yeah. Thank you. Thank you very much. So Joel hills from ITV news. Obviously it’s impacting the tariffs are impacting the U.K. They are impacting most countries. I just wonder this, President Trump did say there would be some disruption. He suggested it would be sort of temporary. Is it possible that President Trump is actually a genius? That he knows something you do not?

    Mr. De Haro: And I think we have a last question on the U.K. and this is going to be the last question on the U.K. There on the back of the room.

    QUESTION: Yeah.

    The U.K. inflation forecast is, you know, much higher than we expected it to be, 0.7 percent higher. Is that going to impact on lowering interest rates in the U.K.? And does that affect the growth rate, which seems to be rather optimistic, compared with some of the other European countries?

    Mr. De Haro: OK. We are going to be done with the U.K. questions and then we will move along. So Pierre‑Olivier.

    Mr. Gourinchas: Thank you. So many questions. Let me address them as best I can. First, on the revision for growth in the U.K. and inflation. So the tariffs are playing a role, as they are in most countries and uncertainty is also playing a role, as it is in all countries. And it’s weighing down on growth in the U.K. But there are some U.K.‑specific factors and I would say that in terms of the zero point 5 percentage point downward revision that we are saying for the U.K., the domestic factors are probably the biggest ones. And in particular, there is a lower carryover from weaker growth in the second half of last year. There is also some tightening of financial conditions, as interest rates have risen, longer‑term interest rates.

    On inflation, the revision in inflation in the U.K. is coming, again, from domestic factors, and in particular some change in regulated energy prices. So that’s expected to be temporary but it’s also very U.K.‑specific. The effect of the tariffs on countries like the U.K., like it is on the EU or China is like a negative demand shock. It’s weakening activity but it’s also lowering price pressures, not increasing them.

    Now, what is the impact of the tariffs in the medium and long term? Not just what’s going to happen this year and next but what’s going to happen longer term? Our assessment is it’s going to be negative. We have a box in our report that looks at the long‑term impact of the tariffs, if they are maintained. And it is negative for all regions, just like the short‑term impact. So we are seeing a negative impact in the short term, in the medium term, in the long term. Again, there are nuances. Some countries might benefit, depending on the particular configuration of tariffs. It might benefit from some trade diversion; but the broad picture is it’s negative for the outlook.

    Now, our ‑‑ and I will end with that. Our forecast for 2025 is slightly higher than OBR’s forecast. Some of this has to do with some of the underlying monetary policy assumptions for the U.K. The bank‑‑

    Our assumption for this year is that there are going to be four cuts through the year. One cut already happened. We expect three more.

    Mr. De Haro: Thank you, Pierre‑Olivier. I am not going to forget about the people that are on WebEx, and I am going to pass a question there. I see Anton from TAS.

    QUESTION: Good morning. Thank you for doing this.

    Given the projected slowdown of Russia’s GDP growth from 4.1 in 2024 to 1.5 in 2025, what are the primary factors driving this sharp decline? And how sustainable is Russia’s growth model going forward? Thank you.

    Mr. De Haro: Go ahead.

    Mr. Gourinchas: Petya, would you like to answer?

    Ms. Koeva Brooks: Sure. We are indeed expecting a slowdown in growth to 1.5 this year, and this, to a large extent is kind of the natural slowing of the economy after growing quite robustly in previous years. And also as a result of policy tightening that we have seen, both on the fiscal as well as on the monetary policy side. It is also due to the lower oil prices that have come about as a result of the‑‑as a response to the round of tariffs, as well as the uncertainty about global growth. So all these factors are behind that lower growth number, although I should point out that it is actually a slight upward revision, relative to what we had back in January. And the reason for that is that, again, we actually had seen upward surprises in 2024, which kind of carried into 2025.

    When it comes to the medium‑term growth outlook, we do expect that to be relatively weak. We are‑‑we have penciled in growth number of about 1.2, which is down from 1.7 which is what we had before the start of the war.

    Mr. De Haro: OK. Let’s continue. I am going to go again in the center and then I am going to go to that side. The lady with the glasses there.

    QUESTION: Hi.

    In Latin America, we received almost every country 10 percent. So I want to know about the impact of the tariffs in Latin America and if the impact is going to be limited, versus other regions, and when we are going to start to feeling this impact. Thank you.

    Mr. De Haro: And before we answer the question, are there any questions on Mexico, Brazil, Argentina? OK. Argentina friends, go ahead.

    QUESTION: Hello.

    You’ve kept 5.5 growth projection that was decided in the latest program that Argentina signed with the IMF. I would like to know why you are not seeing so much impact yet about‑‑of this general context.

    Mr. De Haro: OK. We can go ahead first with the Latin America overview and then we can go to Argentina.

    Mr. Gourinchas: I will just say something briefly and then ask my colleague Petya to come in. So for Latin America, as a whole, we are saying activity that is largely driven by consumption on the back of resilient labor markets while investment remains somewhat sluggish. And the slowdown in our projection reflects the impact of tariffs and the global growth slowdown, of course, which is also affecting countries in the region. Policy uncertainty. And the withdrawal of fiscal stimulus and in some countries monetary policy tightening.

    Ms. Koeva Brooks: I don’t have a lot to add. Just to say that the disinflation process has also slowed a bit, and this is also‑‑also makes the policy trade‑offs a bit more complicated with slow‑‑with growth slowing down and at the same time, you know, having still challenges on the inflation side.

    Mr. De Haro: OK. So we are going to move on. I am going to ask the gentleman in the first row there because‑‑

    Oh, sorry. Sorry. I forgot about Argentina. Please go ahead.

    Ms. Koeva Brooks: We cannot forget about Argentina.

    So the growth forecast for this year‑‑you are right‑‑we still have the upgrade of .5. And this is related to just the positive surprises that we had seen, in spite of a very strong fiscal adjustment, the recovery in confidence I think has definitely played a role in kind of driving us to have this forecast. That said, there are a number of risks related to tighter financial conditions, commodity prices, and a lot of others, which is true for many if not most other countries.

    Mr. De Haro: OK. So now we can move on. I am going to go with the gentleman in the first row.

    QUESTION: Thank you. In the October 2024 outlook you saw a stable but slow growth for Africa. What’s new now? And what kind of initiatives like the African Continental Free Trade Area do for African economies amidst these trade tensions?

    Mr. De Haro: And before we answer, I think‑‑

    QUESTION: Hi. Good morning.

    One of the things that you mentioned in your report is the demographic shift and the rise in the silver economy. Africa, on the other hand, has the reverse of that. So what is your recommendation in the short and medium term on how to deal with some of these challenges pertaining to tariffs, monetary policy, and now currency exchange? Thank you.

    Mr. De Haro: OK.

    Mr. Gourinchas: OK. Thank you. I will just say one word about the outlook in sub‑Saharan Africa and then I will ask my colleague Deniz to come in to add more color and answer also the question on the demographic trends.

    So regional growth in sub‑Saharan Africa improved significantly last year, to 4 percent. And it will ease in 2025. And this is in line with a softer global outlook. So we are seeing the same forces at play in the region, as we are seeing more globally. And a downturn‑‑and a downward revision in our projection that is of a similar magnitude at about 0.4 percentage point. Deniz?

    Ms. Igan: Thank you for the question. So on the demographic shifts, our Chapter 2 basically points out that countries’ age structures are evolving at different rates, as you pointed out as well. We have most western economies, some Asian economies that are aging fast. And you know in a health way some of them. And then we have many sub‑Saharan African countries that have a very young population. And what the chapter shows is actually, there are important medium‑term consequences of that, both for growth, as well as external balances of countries.

    In Africa’s case, basically, what we would see is a demographic dividend coming from having a young population. And the question then becomes how best to leverage that, how best to use that and channel it into growth. And the answer there, first and foremost, depends on the structural reforms, the investment that’s necessary on healthcare, on education, on human capital more generally and also international cooperation because our Chapter 3 looks more carefully into migration flows. And again, there, we see migration policy shifts in destination countries has spillovers for other countries. And this is especially true for emerging market economies and lower income economies. So, again, international cooperation there, making sure that growth dividends are utilized in the best way is what we delve into in the chapter.

    Mr. De Haro: OK. I am going to go to the gentleman with‑‑raise your hand. Yeah. You. No, I am going back. Then I will go‑‑there you go.

    QUESTION: OK. I have a question about China’s growth.

    In your World Economic Outlook, you say China’s growth forecast has been cut to 4 percent for this year, which is a 0.6 percentage drop from an earlier projection. But China’s National Bureau of Statistics a couple of days ago predicted China’s growth GDP growth in the first quarter was 5.4 percent. So my question is, how do you see the disparity in the forecast? Is China more optimistic than you are? Thank you.

    Mr. Gourinchas: Thank you. So, yes, we are revising our growth projections for China down by 0.6 percentage points, as you have noted. I should flag that this number does not incorporate the latest release for Q1. That came after we closed our round of projections. So this is not reflected there. And we will have to see how it affects our projections when we have our next round of WEO updates.

    But let me give you a little bit of perspective on the rationale behind our revision for China. The tariff increase in tariffs especially since China is one of the countries that is facing the most elevated tariffs right now, is going to have a very significant impact in our projections on the Chinese economy. In fact, when we do a decomposition, which I showed during my opening remarks, the impact of the tariffs on the Chinese economy would be a negative 1.3 percentage point revision on growth.

    So why do we only have 0.6? Well, because there are other factors that are helping to support Chinese growth in 2025 and 2026. One of which‑‑which is quite important‑‑is the fiscal support that has been announced since the beginning of the year. And that is adding up, something of the amount of 0.5 percentage points. So the impact of the current trade tensions is very significant. It’s partly offset. We expect it to remain quite significant also in 2026 when we also have a downward revision by about 0.5 percentage points.

    The other side of this, where we are seeing the impact of the tariffs is on inflation, which is revised down. Our headline inflation projection for 2025 is actually at zero. So it’s down from 0.8 percent to zero. So China is facing stronger deflationary forces as a result of these trade tensions.

    Mr. De Haro: OK. I am going to move to this side. The gentleman with the glasses here.

    QUESTION: What impact did the oil price also have in exporting and importing countries in the Middle East? Thank you.

    Mr. De Haro: Go ahead.

    Mr. Gourinchas: So we have seen oil prices declining since our last projections, and the decline in oil prices in our and our interpretation is coming mostly from weaker global demand, so it’s the weakening of global activity that is driving the decline in prices. There has been some increase in supply coming from OPEC Plus countries, but broadly speaking, the decline is mostly coming from weaker demand.

    So that is going to play out in ways you sort of would expect. The commodity exporters are going to face lower export revenues from the decline in oil prices. That’s going to weigh on their fiscal outlook, on their growth.

    For those countries that are oil importers, it’s going to lower inflation pressures because that‑‑lower oil prices is going to feed into lower headline inflation. It’s going to also provide some modest support to economic activity there.

    Deniz, anything to add on oil prices or‑‑or Petya?

    Ms. Koeva Brooks: No, I don’t.

    Mr. De Haro: OK. We are going to move to the center. I am going to get the gentleman with the white shirt there.

    QUESTION: h I am not going to ask another question about the U.K., you will be pleased to know. Over the last week we have seen a number of attacks by the White House on the independence of the Federal Reserve. How destabilizing do you think this might be for financial markets?

    Mr. Gourinchas: So central banks are facing a delicate moment. As I have explained in many countries, the impact of the tariffs is going to be to increase recessionary forces and it is going to lower price pressures. And that will help central banks cut interest rates faster and provide some support to their economies. But in other countries ‑‑ and in our projections, the U.S. is in that category‑‑the tariffs are going to increase price pressures. Price pressures in the U.S. are increasing for other reasons as well. Service prices have been quite‑‑inflation of service prices have been quite strong. And that is something that we are seeing already. But the tariffs are likely to increase price pressures. We are projecting inflation to remain at 3 percent in the U.S. this year, the same level as last year, headline inflation.

    So in that context, if you also think about where we are coming from, we are coming from a period of very elevated inflation. We are just coming off the cost‑of‑living crisis, a surge in inflation rates to double digits that we haven’t seen in more than a generation. So the critical thing is to make sure that inflation expectations remain anchored, that everyone remains convinced that central banks will do what is necessary to bring inflation back to central bank targets in an orderly manner. And central banks have instruments to do this. They have their interest rate instruments. They have various instruments of monetary policy. But one critical aspect of what they do is coming from their credibility. So central banks need to remain credible. And part of that credibility is built upon their central bank independence. And so from that perspective, it’s very important to preserve that.

    Mr. De Haro: OK. We are going to have time for two questions. One of them is going back to WebEx. I see Weier, please. Come in.

    QUESTION: Yes.I have a question.

    You mentioned that the global economic system is being reset. And I am not sure if one of the early signs in the financial markets, as we see that the markets moving from American exceptionalism to the sort of sell the U.S. narrative. So could you assess the implications for the financial markets and the world economy, as a whole?

    Mr. Gourinchas: Yeah, well we have seen some volatility in the markets, of course, whenever there is going to be potentially a significant change in the economic structure of the global economy. I think we are bound to see some reassessment. And investors are going to try to figure out what’s happening, and that’s going to inject volatility. And we are seeing some of that.

    The good news is a lot of that volatility we have seen in the last few weeks has not led to significant market dislocations or market stress to levels that would, for instance, have necessitated the interventions by central banks around the world.

    So whether you are looking at equity markets, whether you are looking at bond markets, whether you are looking at currency markets, what we are saying is a reassessment of the world we are in now and that means that there is a reassessment of valuations of risk assets, of different currencies. But that is happening in an orderly manner. So from that perspective, we are seeing a system that is quite resilient, that remained resilient but, of course, we are watching carefully and there has been some tightening of financial conditions and that’s something to be looking out for. We want to make sure that it doesn’t get to a level where the stress in the financial system would become too extreme.

    Mr. De Haro: OK. The lady here in the first row has been waiting patiently. Please go ahead.

    QUESTION: Thank you, Jose. I want to ask about the trading tensions impact on low‑income countries. You mentioned there are like downgrading for emerging markets but how about like those small countries who have lower income as a group, have you assessed the particular impact on them in these ongoing trade tensions? Thank you.

    Mr. Gourinchas: OK. Well thanks. For low‑income countries as a group, we are also seeing a downgrade in which we report in our report of 0.4 percentage points. We are expecting growth of 4.2 percent in 2025. So the 0.4 is very similar to what we are seeing at the aggregate levels, 0.5. So from that perspective it looks quite the same. However, there are also a lot of differences across countries, and when we look more carefully, you might see some vulnerable countries, especially in sub‑Saharan Africa. But elsewhere as well‑‑who could face very challenging conditions as a result of the tariffs in an environment in which many of the countries, low‑income countries have been facing a funding squeeze for a number of years now, private capital flows to this region have been drying up or have been coming on very expensive terms. We are seeing a drying up also of some official aid flows. So some of these countries have very limited fiscal space. Near a situation where the situation could become more challenging.

    Now, on the flip side, the fact that we are seeing commodity prices coming down for many commodities will help some of them. The commodity importers in that group will hurt the ones who are commodity exporters. And there are a number of countries among the low-income group that are commodity exporters, so that is adding some additional pressure on them.

    Mr. De Haro: I am going to make an exception and just one last question. I am going to go with the gentleman in the white shirt there. He has been waiting patiently, too. And don’t get frustrated. There are going to be many opportunities for you to ask questions.

    QUESTION: Thank you, Jose. AFP.

    I had a quick question about Spain because that’s the only countries among advanced economies where you had an upward revision. It’s going to be way better than the eurozone and even better than other advanced economies. What are the underlying reasons for that? And you formally talked much about tourism but are there any other things that might be pointed out? Thank you.

    Mr. Gourinchas: Yes, indeed. Spain is doing better than its peers. Petya, would you like to talk about it?

    Ms. Koeva Brooks: Sure. Indeed. We are actually having an upgrade for Spain this year, which is a rare occurrence in the many, many downgrades that we have had for many other countries. This is partly because the Spanish economy just had such strong momentum in 2024, coming into 2025. And part of that was due to the very strong services exports as well as the very strong labor accumulation. Part of that related to immigration. But all of that being said, Spain is still being affected indirectly and directly by the tariffs and the uncertainty associated with that. It’s just that, as I said, that underlying [strength is kind of having a bigger impact in the near term. But then again, in 2026, we do project kind of a slowing of growth to about 1.8.

    Mr. De Haro: OK. And on that point, I want to thank you, everyone, on behalf of Pierre‑Olivier, Petya, Deniz, the Research Department, the Communications Department. Some reminders. Next press briefing is going to happen in this same room, Global Financial Stability Report, please stay tuned. Tomorrow you have the Fiscal Monitor, and then later in the week, you have the Managing Director’s press briefing and also all the regional press briefings that we have been talking about. Thank you very much for your time. If you have questions, comments, send them my way to media@imf.org and hopefully you have a great week. I am sure it’s going to be busy.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Jose De Haro

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

    MIL OSI Economics –

  • MIL-OSI Video: Secretary Kennedy Swears in Dr. Oz to Lead CMS

    Source: United States of America – Federal Government Departments (video statements)

    We spend more today on health care than any other country in the world, yet we have the worst health outcomes. Chronic disease is rising and we’re not getting our bang for the buck. Dr. Oz as head of CMS is going to change all that. Welcome to the team Dr. Oz. Let’s Make America Healthy Again.” – Secretary Kennedy

    —

    U.S. Department of Health and Human Services (HHS) | http://www.hhs.gov

    http://www.Twitter.com/HHSGov | http://www.Facebook.com/HHS http://www.Instagram.com/HHSGov
    http://www.LinkedIn.com/company/us-department-of-health-and-human-services

    HHS Privacy Policy: http://www.hhs.gov/Privacy.html

    https://www.youtube.com/watch?v=Ym2JkIfv17w

    MIL OSI Video –

  • MIL-OSI Russia: Financial news: On holding auctions on April 23, 2025 to place OFZ issue No. 26238RMFS and issue No. 26245RMFS

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    For bidders

    We inform you that, based on the letter of the Bank of Russia and in accordance with Part I. General Part and Part II. Stock Market Section of the Rules for Conducting Trading on the Stock Market, Deposit Market and Credit Market of Moscow Exchange PJSC, the order establishes the form, time, term and procedure for holding auctions for the placement and trading of the following federal loan bonds:

    1.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security federal loan bonds with constant coupon income
    State registration number of the issue 26238RMFS from 11.06.2021
    Date of the auction April 23, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code SE26238RMFS4
    ISIN code RO000A1038V6
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 14:30 – 15:00; bid execution period: 15:30 – 18:00.

    2.

    Name of the Issuer Ministry of Finance of the Russian Federation
    Name of security federal loan bonds with constant coupon income
    State registration number of the issue 26245RMFS from 08.05.2024
    Date of the auction April 23, 2025
    Information about the placement (trading mode, placement form) The placement of Bonds will be carried out in the Trading Mode “Placement: Auction” by holding an Auction to determine the placement price. BoardId: PACT (Settlements: Ruble)
    Trade code CO26245RMFS9
    ISIN code RO000A108EG6
    Calculation code B01
    Additional conditions of placement The share of non-competitive bids in relation to the total volume of bids submitted by the Bidder may not exceed 90%.
    Trading time Trading hours: bid collection period: 12:00 – 12:30; bid execution period: 13:00 – 18:00.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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

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

    HTTPS: //VVV. MEEX.K.M.M.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: A DST institute, NECTAR showcases Innovative Aerostatic Drone for Enhanced Surveillance and Disaster Management

    Source: Government of India

    Posted On: 22 APR 2025 3:54PM by PIB Delhi

    Forest surveillance, wildlife monitoring, border and disaster surveillance in the North East, may soon be much easier — thanks to the Aerostatic Drone developed with support from North East Centre for Technology Application and Reach (NECTAR).

    NECTAR, an autonomous body under Department of Science and Technology, Government of India organized a live demonstration of the technology developed by Airbotix Technologies, Gurgaon.

    It is the first of its kind in India, designed with high endurance and aero-statically stable capabilities to deploy for forest surveillance, wildlife monitoring, border and disaster surveillance application. Aerostatic drones are aerial platforms that derive their lift from both buoyancy and aerodynamics.

    This makes them very energy efficient making them a better alternative for tethered drones. Aerostatic drones are silent as they do not require constant thrust to stay afloat, making them cost-effective and versatile solution for providing persistent surveillance.

    The aerostatic drone provides a silent aerial platform that can persistently stay afloat for surveillance with an endurance of over 4 hours. The system is designed to be modular and could be integrated with any ground vehicle or can be installed at any site. The drone can be utilized for a variety of use cases such as wildlife monitoring, forest surveillance, crowd monitoring, border security and disaster surveillance to name a few.

    The flexibility to equip the drone with both day and night camera as well as any other payload such as telecommunication relay and anti-drone payload. The Day and Night Vision Camera cameras further enhances its utility, especially in tracking monitoring forests for illegal activities such as poaching, smuggling and logging, as well as by providing support for security operations along borders.

    Participants from various organizations interacted with Airbotix Technologyy about the drone’s technical capabilities. The Drone has features related to surveillance using thermal imaging and detection capabilities. 

    Officials from the CRPF showing a keen interest in how the drone could enhance their operations, particularly in border surveillance and security in challenging terrains. The ability of the drone to operate in both daylight and low-visibility conditions using thermal cameras could be a significant asset for security personnel.

    Fig: Aerostatic Drone for Enhanced Surveillance and Disaster Management

     

    The drones could play a crucial role in monitoring forest health and wildlife populations, enabling conservationists to track animal movements and assess habitat conditions without disturbing the ecosystem as they are silent. In military and security contexts, aerostatic drones are employed for ISR missions, providing real-time data and situational awareness, which enhances strategic planning and operational effectiveness. Furthermore, as they have very little metal components, they are practically invisible to the RADAR.

    Aerostatic drones can serve as temporary communication relays in remote areas or during emergencies, ensuring connectivity where traditional infrastructure may be lacking or compromised. Aerostatic drones can also be integrated into systems designed to detect unauthorized drone activity, enhancing security measures at sensitive locations such as airports and military bases.

    During public events, these drones could assist law enforcement by monitoring crowd behavior, helping to ensure safety and manage potential disturbances effectively. Moreover, they can be utilized to monitor traffic conditions in urban areas, providing valuable data for traffic management systems and aiding in the reduction of congestion through real-time information dissemination.

    The officials from Brahmaputra Board expressed their keenness to use the aerostatic drone for disaster management and for monitoring civil construction such as roads.

    The Aerostatic Drone is expected to be a game-changer in its field, with its versatility and high-performance features setting a new standard for unmanned aerial vehicle technology in India.

     

    ***

    NKR/PSM

    (Release ID: 2123451) Visitor Counter : 52

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Celebrating Poshan, Nourishing Nation

    Source: Government of India

    Celebrating Poshan, Nourishing Nation

    Glimpses of Poshan Pakhwada 2025

    Posted On: 22 APR 2025 3:34PM by PIB Delhi

    From metro streets to village lanes, Poshan Pakhwada 2025 brought India together in a spirited celebration of nutrition and well-being from 8th to 22nd April 2025. In its 7th edition, the campaign focused on maternal and child nutrition, digital access for beneficiaries, and tackling childhood obesity. Driven by collective action from anganwadi centres to schools, from government to grassroots—this year’s Pakhwada turned nutrition into a nationwide mission powered by technology, creativity, and care. Let’s take a visual journey across India to witness the spirited activities that brought Poshan Pakhwada 2025 to life.

    Towards a healthier India: Awareness activities in different states

     

    Creating Awareness through Cultural Activities

      

    Himachal Pradesh

      

    Jammu & Kashmir

    Reaching grassroot through Nukkad Natak

           

    Anganwadi Workers ensuring no one is left behind

         

                       Madhya Pradesh                                                             Andhra Pradesh

           

                                          Gujarat                                                     Chandigarh

         

    Celebrating Food

      

    Growth Monitoring

    Poshan Tracker App

    Click here to see PDF.

    *****

    Santosh Kumar/ Sarla Meena/ Priya Nagar

    (Release ID: 2123445) Visitor Counter : 18

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: TRAI releases recommendations on ‘the issues Related to Critical Services in the M2M Sector, and Transfer of Ownership of M2M SIMs’

    Source: Government of India

    Ministry of Communications

    TRAI releases recommendations on ‘the issues Related to Critical Services in the M2M Sector, and Transfer of Ownership of M2M SIMs’

    Posted On: 22 APR 2025 3:27PM by PIB Delhi

    Telecom Regulatory Authority of India (TRAI) has today released its recommendations on ‘the issues Related to Critical Services in the M2M Sector, and Transfer of Ownership of M2M SIMs’. 

    1. Earlier, Department of Telecommunications (DoT), through its letter dated 01.01.2024, had referred to the TRAI’s recommendations dated 05.09.2017 on ‘Spectrum, Roaming and QoS related requirements in Machine-to-Machine (M2M) Communications’, and had requested TRAI to provide reconsidered recommendations, as per the provisions of Section 11 of the TRAI Act 1997 on the following issues:
    1. Identification of Critical Services in the M2M Sector
    2. Transfer of Ownership of M2M SIMs
    1. In this regard, TRAI, on 24.06.2024, issued a consultation paper on ‘the Issues Related to Critical Services in the M2M Sector, and Transfer of Ownership of M2M SIMs’ for soliciting comments and counter comments from stakeholders. In response, TRAI received 16 comments and one counter-comment from stakeholders. An open house discussion on the consultation paper was held on 24.10.2024 through virtual mode.
    1. Based on the comments received from stakeholders and on its own analysis, TRAI has finalized its recommendations on ‘the Issues Related to Critical Services in the M2M Sector, and Transfer of Ownership of M2M SIMs’.
    1. Machine to Machine (M2M) communication can enable applications and services across a broad range of vertical markets such as automotive, utilities, healthcare, safety & surveillance, financial, public safety, smart city and agriculture. At present, the M2M ecosystem is at an early stage of growth of its lifecycle. As the M2M ecosystem matures, and thereby gains user confidence, more and more services will be delivered to individuals, enterprises and public institutions by using Internet of Things (IoT). Many of such services would be critical IoT services, requiring ultra-reliable, low latency M2M connectivity with very high availability. As critical IoT will be used for delivering services of critical importance, the identification of services as critical IoT service requires to be done well in advance. The identification of a service as a critical IoT service would enable user agencies to enter into suitable service level agreements (SLAs) with telecom service providers. Through the SLAs, telecom service providers may be held accountable for ensuring that the M2M connectivity provided by them meets the requisite telecommunication service performance parameters (such as latency, reliability, and availability) which are sacrosanct for the successful operation of the concerned critical IoT service. Through these recommendations, TRAI has recommended a broad guiding framework for classifying a service as a ‘critical IoT service’. TRAI has recommended that a service should be classified as a ‘critical IoT service’, if it passes the following twin tests:
    1. Whether the service (application) demands ultra-reliable low-latency M2M connectivity with very high availability? 
    2. Whether any disruption of the M2M connectivity used for delivering the service (application) will have a debilitating impact on national security, economy, public health, or public safety?
    1. TRAI has recommended that the classification of critical IoT services of a particular domain/ sector should be done by the ministry/ regulatory body concerned in consultation with Department of Telecommunications (DoT).
    1. TRAI has also recommended that for the classification of critical IoT services, DoT should devise an institutional mechanism for the assistance of concerned ministries/ regulatory bodies.
    1. TRAI has recommended a technology-agnostic approach for the provision of critical IoT services. Specifically, TRAI has recommended that any wireless M2M communication technology (utilizing unlicensed spectrum, or licensed spectrum) or wired M2M communication technology should be permitted to be used for the provision of critical IoT services if it meets the prescribed service performance benchmarks.
    1. Owing to the pervasive nature of the deployment of IoT devices in all walks of life, the importance of security and privacy requirements of IoT devices is paramount. The security and privacy concerns from IoT devices emanate essentially from the M2M communication modules embedded in them through which IoT devices get connected to telecommunication networks including public internet. With a view to allaying security and privacy concerns in respect of IoT devices, particularly those which are used in critical sectors, TRAI has recommended that the M2M communication modules embedded/ plugged in all IoT devices (which are capable of being connected to telecommunication networks) deployed in the critical sectors identified by National Critical Information Infrastructure Protection Centre (NCIIPC), Government of India should be notified under the framework of Mandatory Testing & Certification of Telecommunication Equipment (MTCTE) in a phased manner.
    1. Through these recommendations, TRAI has recommended that the Department of Telecommunications (DoT) should establish a framework for the transfer of M2M Service Provider (M2MSP) registration/ authorisation to the resultant entity in case of merger, demerger, acquisition etc. of M2MSP entities.
    1. TRAI has also recommended that DoT should introduce an enabling provision for the transfer of the ownership of M2M SIMs from one M2MSP registration holder/ authorised entity to another.
    1. The recommendations have been placed on the TRAI’s website www.trai.gov.in. For clarification/ information, if any, Shri Akhilesh Kumar Trivedi, Advisor (Network Spectrum & Licensing), TRAI, may be contacted at Telephone Number +91-11-20907758 or email at advmn@trai.gov.in.

    ***

    Samrat

    (Release ID: 2123440)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Acting SFST’s speech at Earth Forum 2025 (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, at the Earth Forum 2025 today (April 22):
     
    Plato (Chairperson of Friends of the Earth (HK), Mr Plato Yip), King (Executive Director of the Financial Services Development Council (FSDC), Dr King Au), Dr Leng (Board Member of the International Sustainability Standards Board of the IFRS Foundation, Dr Bing Leng), Dr Guo (Chairman of the China Sustainable Investment Forum (China SIF), Dr Guo Peiyuan), distinguished guests, ladies and gentlemen,
     
         Good afternoon. It is my great honour and pleasure to join you today at the Earth Forum 2025, a gathering of visionaries committed to shaping a sustainable future. First of all, I would like to express my gratitude to Friends of the Earth, FSDC and China SIF for organising this pivotal event and to all of you for your unwavering dedication to advancing green finance.
     
         As Asia’s leading international financial centre, Hong Kong has also become Asia’s premier hub for green and sustainable finance. To align with the target of achieving carbon neutrality by 2050, Hong Kong has made significant commitments of its own. These targets are not merely aspirational; they are driving systemic reforms across various sectors, including energy, transportation, and finance.
     
         In 2024, the total green and sustainable debts issued in Hong Kong exceeded US$84 billion, among which the volume of green and sustainable bonds arranged in Hong Kong amounted to around US$43 billion, ranking first in the Asian market for seven consecutive years since 2018 and capturing around 45 per cent of the regional total. This accomplishment solidifies our position as the region’s premier platform for scaling climate-positive investments and also underscores our dedication to fostering a robust green finance ecosystem.
     
         Hong Kong’s status as a strategic nexus for green finance in Asia is central to advancing global sustainability objectives. As of the end of December last year, there are more than 220 ESG (environmental, social and governance) funds in Hong Kong authorised by our regulator, with assets under management (AUM) of around HK$1.2 trillion. This represents a remarkable increase of 136 per cent in the number of funds and a 15 per cent rise in AUM from just three years ago. These elements will solidify Hong Kong’s role as the gateway to sustainable finance in Asia.
     
         As an international financial centre, Hong Kong is uniquely positioned to mobilise the necessary capital for climate solutions while ensuring robust integrity within our financial markets. Hong Kong’s multifaceted approach encompasses policy frameworks, market infrastructure, innovation ecosystems, and cross-border collaboration. Our Government Sustainable Bond Programme stands as a testament to this transformation. Having raised HK$220 billion since 2019, including the groundbreaking tokenised bond charge, we’re not just starting green projects but creating new benchmarks for the market in different currencies and across different tenors. The recent expansion of the programme to include sustainable projects reflects our commitment to financing a broader range of climate solutions.
     
         As we navigate the complexities of climate change and strive for a sustainable future, transparency and robust governance remain fundamental to our approach. In December 2024, we launched a roadmap on sustainability disclosure in Hong Kong. The roadmap sets out Hong Kong’s approach to require publicly accountable entities (PAEs) to adopt the ISSB Standards (International Financial Reporting Standards – Sustainability Disclosure Standards). Assuming the role of the sustainability reporting standard setter in Hong Kong, the Hong Kong Institute of Certified Public Accountants (HKICPA) published in December 2024 following a public consultation the Hong Kong Sustainability Disclosure Standards (Hong Kong Standards) fully aligned with the ISSB Standards, with an effective date of August 1, 2025. All these ensure our regulatory framework remains aligned with international best practices while addressing the specific needs of the evolving markets.
     
         Our regulatory framework is fundamental to creating a robust and dynamic sustainable finance ecosystem. By establishing clear guidelines and standards, we can ensure that all stakeholders are aligned in their efforts towards sustainability. The Hong Kong Monetary Authority (HKMA) published the Hong Kong Taxonomy for Sustainable Finance in May 2024, aligns with the two mainstream taxonomies of the Mainland and the European Union (EU), and currently encompasses 12 economic activities under four sectors, namely power generation, transportation, construction, and water and waste management. It serves as a pivotal tool to raise awareness about green finance, promote common understanding of green activities, facilitate green finance flows, and provide a foundation for further applications. In its Phase 2 development, the Taxonomy will introduce transition activities and add new green activities to make it more usable and support the transition of the region.
     
         We recognise that developing green finance talent is vital for sustaining our leadership position. Our Pilot Green and Sustainable Finance Capacity Building Support Scheme has successfully approved over 6 400 applications with a total amount of reimbursement of about HK$35.8 million. As mentioned in the 2025-2026 Budget, we will extend the scheme to 2028 to continuously support local green finance talent training.
     
         Our progress reflects the Government’s commitment to not only human capital development but also technological innovation. The Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme, launched by the Government in June last year, aims to nurture an advanced green fintech ecosystem by providing vital support for innovative projects. The Scheme facilitates the commercialisation of the solutions and the completion of the proof-of-concept stage, enabling wider adoption of green and sustainable fintech solutions with potential in the business landscape of Hong Kong. A total of 39 applicants involving 60 projects were approved, with a grant of HK$150,000 for each project. These initiatives are building the expertise required to sustain Hong Kong’s leadership in sustainable finance.
     
         Ladies and gentlemen, the transition to a sustainable future is both our greatest challenge and our most exciting opportunity. Hong Kong stands ready to play its part – as a financial hub, as an innovator and, most importantly, as your partner in this vital work. Looking ahead, we will leverage Hong Kong’s unique position as an international financial centre to connect capital with climate solutions. This strategic role positions Hong Kong to make significant contributions to global climate action through financial innovation.
     
         I look forward to today’s constructive dialogue and to our continued collaboration in translating these strategic initiatives into tangible outcomes that advance Hong Kong’s sustainable finance leadership. Let us work together to build a sustainable future.
     
         Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CE leads delegation to begin visit programme in Zhejiang (with photos)

    Source: Hong Kong Government special administrative region

    CE leads delegation to begin visit programme in Zhejiang  
    Upon arrival in Hangzhou in the afternoon, Mr Lee and the delegation visited the ZJU-Hangzhou Global Scientific and Technological Innovation Center to learn more about the latest developments in innovation and technology collaboration between Hong Kong and Hangzhou. Mr Lee said that Zhejiang University is one of the eligible Mainland universities under the Top Talent Pass Scheme, and over 4 000 of its graduates have been approved to pursue their careers in Hong Kong through the scheme. He also said that the Center serves as a major innovation and technology platform in Zhejiang, bringing together talent skilled in the collaborative development of industry, education and research sectors. The Center can enhance collaboration with Hong Kong’s universities and research institutes in areas such as promoting the transformation of research and development outcomes, and enhancing technological and industrial innovation, Mr Lee added.
     
    In the evening, Mr Lee attended a dinner hosted by the Hong Kong Chamber of Commerce in Zhejiang, where he engaged with Hong Kong people and representatives of Hong Kong enterprises in Zhejiang to learn more about their daily lives and developments. He encouraged them to leverage their strengths to serve Zhejiang enterprises in going global and attracting foreign investment, with a view to contributing to mutual benefits and the high-quality development of Hong Kong and Zhejiang.
     
    Mr Lee will continue his visit to Hangzhou tomorrow (April 23).
    Issued at HKT 19:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Appeal for information on missing woman in Cheung Sha Wan (with photos)

    Source: Hong Kong Government special administrative region

    Police today (April 22) appealed to the public for information on a woman who went missing in Cheung Sha Wan.

    Chan Fung-siu, Susanna, aged 68, went missing after she left her residence on Sham Mong Road yesterday (April 21) afternoon. Her family then made a report to Police.

    She is about 1.5 metres tall, 43 kilograms in weight and of thin build. She has a long face with yellow complexion and long grey and white hair. She was last seen wearing a blue T-shirt, black trousers, grey and white sneakers, a pair of glasses and a pink mask and carrying a blue and black luggage.

    Anyone who knows the whereabouts of the missing woman or may have seen her is urged to contact the Regional Missing Persons Unit of Kowloon West on 3661 8036 or 9020 6542 or email to rmpu-kw@police.gov.hk, or contact any police station.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Governor Lamont Applauds Legislative Approval of Release-Based Cleanup Regulations

    Source: US State of Connecticut

    (HARTFORD, CT) – Governor Ned Lamont, Connecticut Department of Energy and Environmental Protection (DEEP) Commissioner Katie Dykes, and Connecticut Department of Economic and Community Development (DECD) Commissioner Daniel O’Keefe are applauding the vote today by the Connecticut General Assembly’s Legislative Regulation Review Committee to approve the adoption of Release-Based Cleanup Regulations.

    These newly adopted regulations will streamline the remediation and redevelopment of blighted properties impacted by pollution from past industrial uses. They are the result of a four-year, legislatively authorized, stakeholder-driven process to overhaul the Transfer Act, the state’s framework governing the cleanup of contaminated sites. Almost 5,000 properties have entered into the Transfer Act program since the 1980s, however less than half have been remediated. Adoption of the release-based framework aligns Connecticut’s regulatory environment with the approach used in 48 other states, allowing for faster, owner-initiated cleanups that will address longstanding pollution and bring blighted properties back to productive reuse.

    The regulations were developed by DEEP in collaboration with DECD and a stakeholder working group. Since December 2020, DEEP and DECD have met at least monthly with a working group of more than 50 environmental transaction attorneys, commercial real estate brokers, and licensed environmental professionals who work every day to remediate and redevelop polluted property in Connecticut. The resulting regulations will make it easier to clean up polluted sites, bringing thousands of properties back into productive reuse. Economists at DECD estimate that moving to a release-based system will have significant economic benefits, generating more than 2,100 new construction jobs, $3.78 billion in new GDP growth, and $115 million in new revenue for the state over the next five years alone.

    “This is a gamechanger for Connecticut,” Governor Lamont said. “This new system truly is a win-win, resulting in faster environmental clean-ups and unlocking countless blighted properties that will go from being community hazards to being community assets.”

    “Replacing the Transfer Act with a release-based framework is one of the most significant improvements to Connecticut environmental regulation in many years,” Commissioner Dykes said. “This milestone is the result of thousands of hours of work by DEEP and DECD staff, environmental professionals, industry stakeholders, and legislators. I’m thankful for Governor Lamont’s leadership on this issue, the partnership with legislative leadership, and the Legislative Regulation Review Committee for their careful consideration and approval of these regulations. I look forward to implementing this modern cleanup program and bring valuable properties back into productive reuse.”

    “The move to release-based regulations is a long overdue reform that provides the predictability that businesses need, fueling new investment that will create thousands of construction jobs, generate millions in new tax revenue, and accelerate our efforts to build vibrancy in our cities and towns,” Commissioner O’Keefe said.

    “Today’s adoption of the Release-Base Cleanup Regulations and the sunsetting of the outdated Transfer Act will exponentially drive economic development, as well as improve environmental outcomes in Connecticut,” State Senator Joan Hartley (D-Waterbury) said. “DECD estimates that the transition from the Transfer Act to the Release-Base model will create 2,100 new construction jobs, $3.78 billion in new GDP growth and $115 million in new revenue for the state in just the next five years. This would not have been possible but for the thousands of hours of hard work by the members of the Transfer Act working group and the leadership of DEEP and DECD. Thank you to all who got us here.”

    “It has long been time to move past the Transfer Act and modernize how we respond to pollution being released in Connecticut,” State Representative John-Michael Parker (D-Durham, Madison), co-chair of the Environment Committee, said. “With the adoption of these regulations, we will expedite business transactions and help our environment – a win-win for Connecticut’s climate and economic development. Thank you to all my colleagues and collaborators who helped push this important change forward.”

    The new release-based regulatory structure is anticipated to take effect in spring of 2026. DEEP and DECD look forward to spending time before then working with a wide variety of stakeholders in impacted industries and beyond to prepare the state for this important transition.

    Timely completion of the Released-Based Clean Up Regulations is one of several goals DEEP is announcing as part of its new 20By26 initiative. That initiative set 20 goals to meet by the end of 2026 that improve the transparency, predictability, and efficiency of the DEEP regulatory process. Today’s legislative approval marks the completion of Goal 1.

    Several other objectives from the 20By26 initiative are contained in legislation on environmental permitting that Governor Lamont proposed earlier this year.  That legislation, House Bill 6868, was approved last month by the Environment Committee and is now pending further action by the House of Representatives.

    To learn more about the Release-Based Clean Up Regulations, click here.

     

    MIL OSI USA News –

  • MIL-OSI USA: Chobani to Make $1.2 Billion Facility in Upstate New York

    Source: US State of New York

    [embedded content]

    [embedded content]

    Chobani’s latest facility will be built at the Triangle parcel located at Griffiss Business and Technology Park, which was awarded more than $23 million from FAST NY last year to complete infrastructure and transportation improvements. When at full capacity, Chobani will process over 12 million pounds of milk per day, representing a large economic opportunity for the state’s dairy farms.

    Chobani has selected Rome, New York for this project based on:

    • A skilled local workforce, including a high concentration of military veterans living in the area, as well as graduates from nearby colleges
    • Easy access to the major population of the East Coast
    • Availability of affordable housing in the area as well as Governor Hochul’s ongoing commitment to building affordable homes in New York State
    • Additional resources coming from the state to support the creation of new jobs

    Empire State Development President, CEO and Commissioner Hope Knight said, “Today’s announcement represents how New York is building a stronger, more sustainable economy that creates jobs, promotes tradable industries and supports additional economic sectors in the state. This public-private partnership with Chobani will grow the market for New York’s dairy farmers, create jobs that provide a path to the middle class, and develop even more world-class food products that are widely recognized across North America. Under Governor Hochul’s leadership, the State continues to invest in the companies and jobs that bolster New York’s economic vitality of today and tomorrow.”

    New York State Agriculture Commissioner Richard A. Ball said, “Twenty years ago, Chobani opened its first U.S. facility right here in New York, so we’re thrilled with their decision to expand their roots here with a brand-new manufacturing facility in the Mohawk Valley. This is tremendous news for our state and for our dairy farmers, who will be supplying milk to this state-of-the-art processing facility. Chobani has long been a part of New York’s world-class dairy industry, and this feels like a real full-circle moment to welcome them to another region in our state. I thank Governor Hochul and all of the partners involved and look forward to the positive long-term impact this will have on our dairy community statewide.”

    New York State Department of Labor Commissioner Roberta Reardon said, “New York’s dairy industry is essential to the success of our state’s economy, putting food on the table for families statewide and providing countless pathways to good-paying careers. Governor Hochul has made strengthening New York’s agricultural workforce a top priority and the results speak for themselves. Chobani’s massive investment in the Mohawk Valley will continue to expand our state’s impressive, and delicious, dairy offerings and bring career opportunities to so many New Yorkers, including those in underserved populations.”

    To help facilitate the company’s investment and expansion in the Mohawk Valley, Empire State Development (ESD) has agreed to provide Chobani up to $73 million in performance-based Excelsior Jobs Program tax credits to support the creation of more than 1,000 jobs at the Rome location. Additionally, the company has pledged to collaborate with ESD to develop workforce training that aims to train and provide job opportunities at Chobani to underserved populations.

    The dairy industry is the largest single segment of New York’s $8 billion agricultural industry. The state has nearly 3,000 dairy farms that produce 16.1 billion pounds of milk annually, making New York the fifth largest dairy state in the United States. New York is the largest producer of yogurt, sour cream, cream cheese and cottage cheese and the fifth largest producer of milk. The dairy community in New York includes both large dairy operations and small, family run farms. It also boasts approximately 200 dairy processing facilities of various types and sizes, from major global processing companies to small artisanal dairy product makers.

    Chobani has been a major employer in the Mohawk Valley for decades, and this massive new $1.2 billion investment will bring more than 1,000 good-paying jobs to Oneida County.”

    Governor Kathy Hochul

    U.S. Senator Charles Schumer said, “Today, Chobani makes Upstate New York the No. 1 Greek yogurt producer in America. Chobani’s $1 billion investment — the largest investment in natural food making in American history — is a win-win-win for Chobani, NY dairy farmers, and the Mohawk Valley economy and jobs. I’ve fought to help Chobani grow since the very beginning to lay the foundation for a day like today. When Chobani wanted to expand the reach of their delicious and nutritious Greek yogurt, I helped get them included in the national school lunch program to be enjoyed by children across the country. With this new factory, more people will be able to enjoy their ‘Made In NY’ Greek yogurt than ever before. Dairy farmers are the beating heart of Upstate NY and this massive new facility and 1,000 new jobs will help support so many family farms across the state. I sincerely thank Chobani’s amazing CEO, and my very good friend, Hamdi Ulukaya for continuing his commitment to our state. I also thank Governor Hochul: without her leadership, today would not be possible. New York is proud that Chobani calls it home and more people will be enjoying their yogurt that comes from NY dairy farms made here in the Mohawk Valley than ever before.”

    Representative John Mannion said, “This transformational investment by Chobani is a major win for New York State, and its success is a top priority for the Mohawk Valley. Residents of NY-22 will help fill the 1,000 new jobs and increased demand will benefit local dairy farmers and strengthen their bottom lines. I was proud to support FAST NY in the State Senate, working with Governor Hochul to drive economic growth and create good paying jobs for New Yorkers. I’m grateful for the Governor’s leadership and for Chobani’s continued commitment to New York agriculture, our workers, and our communities.”

    State Senator Joseph Griffo said, “I thank Chobani for their willingness to continue to invest in Upstate New York and appreciate the efforts of all those who have helped make today’s announcement a reality, especially Oneida County Executive Anthony Picente Jr. and the Governor and Empire State Development. This major expansion will generate new employment opportunities, boost the local and regional economies, strengthen the state’s dairy industry and enhance the City of Rome, Oneida County and Upstate New York. I am looking forward to watching as this project progresses and am excited about the significant, positive, transformational impact it will potentially have on the community, region and state.”

    Assemblymember Marianne Buttenchon said, “I welcome Chobani to my district and look forward to a great partnership. Chobani is an amazing employer that provides healthy, delicious products for our families. They also always support our local communities by helping those in need. I sincerely thank Chobani for choosing Oneida County and for all they do for New York State.”

    Oneida County Executive Anthony Picente said, “This is a generational win for Oneida County and the entire Mohawk Valley. We believed in the potential of the Griffiss Triangle site and invested over $6 million to make it shovel-ready because we knew it could attract a world-class partner like Chobani. I’m proud of the role Oneida County played in bringing this transformative project to fruition. This $1 billion investment will create over 1,000 good-paying jobs, boost our local economy, and reaffirm our region as a hub for innovation and opportunity. We couldn’t be happier to welcome Chobani to Rome and begin this new chapter together.”

    Rome Mayor Jeffrey Lanigan said, “We are incredibly grateful to Governor Hochul and the State of New York for their continued support of Chobani’s tremendous project here in the City of Rome. This transformative investment marks a major step forward for our community, bringing new jobs, opportunities, innovation, and growth. The redevelopment of the Triangle Site was a visionary effort — one that required forward-thinking investments, long-term commitment and dedication. We are very proud to be a part of this exciting new chapter for Rome.”

    Embedded Flickr Album

    Governor Hochul’s Ongoing Support for the Agricultural Industry
    Today’s expansion of Chobani in Rome complements Governor Hochul’s commitment to the agriculture industry in New York State. Governor Hochul has made record investments to support the state’s farmers. Initiatives such as Nourish NY and the 30 percent Initiative have connected locally grown food with underserved communities while boosting the agricultural economy. Governor Hochul has invested $55 million to help dairy farms adopt sustainable practices and modernize operations and protected and enhanced the state’s farming industry through an $82 million investment in agricultural stewardship programs.

    In her most recent State of the State, Governor Hochul has continued to build on these efforts and has proposed additional investment in agricultural stewardship programs and will provide additional funding to research and implement climate-resilient practices on dairy farms. Additionally, the Governor has proposed the expansion of agriculture education in New York’s schools. More information on the Governor’s 2025 State of the State proposals for New York’s agriculture industry.

    About Chobani
    Chobani is a food maker with a mission of making high-quality and nutritious food accessible to more people, while elevating our communities and making the world a healthier place. In short: making good food for all. In support of this mission, Chobani is a purpose-driven, people-first, food-and-wellness-focused company, and has been since its founding in 2005 by Hamdi Ulukaya, an immigrant to the U.S. The Company manufactures yogurt, oat milk and creamers — Chobani yogurt is America’s No.1 yogurt brand, made with natural ingredients without artificial preservatives. Following the 2023 acquisition of La Colombe, a leading coffee roaster with a shared commitment to quality, craftmanship and impact, the Company began selling cold-pressed espresso and lattes on tap at cafés nationwide, as well as Ready to Drink (RTD) coffee beverages at retail.

    Chobani uses food as a force for good in the world — putting humanity first in everything it does. The company’s philanthropic efforts prioritize giving back to its communities and beyond: working to eradicate child hunger, supporting immigrants, refugees and underrepresented people, honoring veterans, and protecting the planet. Chobani manufactures its products in New York, Idaho, Michigan and Australia, and its products are available throughout North America and distributed in Australia and other select markets.

    For more information, please visit www.chobani.com and www.lacolombe.com, or follow us on Facebook, Twitter, Instagram and LinkedIn.

    MIL OSI USA News –

  • MIL-OSI Europe: Answer to a written question – Improving airline passenger care by means of accessible and effective communication channels – E-000963/2025(ASW)

    Source: European Parliament

    1. The Commission considers that airlines should be encouraged to ensure accessible and efficient communication channels with passengers, especially when they face challenges, such as flight delays, cancellations, or baggage issues requiring a swift resolution.

    2. In its Interpretative Guidelines[1] on Regulation (EC) No 261/2004 on air passenger rights[2], the Commission included guidance for air carriers regarding complaint handling[3]; while this regulation requires air carriers to provide to passengers affected by flight disruptions individual information on related rights, it does not prescribe the communication tools, which are under the discretion of the airlines.

    The responsibility of enforcement of air passenger rights lies with the national enforcement bodies (NEBs) that oversee air carriers’ compliance with the pertinent provisions of the regulation.

    To improve the existing rules the Commission included in its proposal of 2023[4], amending Regulation (EC) No 261/2004, specific provisions to strengthen enforcement mechanisms including obligations of the air carriers regarding complaint handling and information to passengers. The Commission proposed that information shall be provided also by electronic means, where technically possible, ensuring that the passenger can preserve any written correspondence on a durable medium. In addition, airlines are required to enable the necessary means for swift and effective communication with the passenger. These proposals are being considered by the Council and the European Parliament[5].

    3. The Commission is aware that access to airlines’ customer service may be problematic including for NEBs; yet this matter is rarely the subject-matter of complaints by passengers.

    • [1] See revised Interpretative Guidelines on Regulation (EC) No 261/2004:
      https://transport.ec.europa.eu/news-events/news/commission-publishes-new-guidelines-more-clarity-air-passenger-rights-2024-07-22_en
    • [2] https://eur-lex.europa.eu/eli/reg/2004/261/oj/eng
    • [3] See Section 8.1.
    • [4] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52023PC0753
      see esp. Art. 14a for air passenger rights (p.20), similar rules have been proposed also for bus, ship and rail, see p. 27, 31 and 33.
    • [5] You can follow the legislative procedure here: https://eur-lex.europa.eu/procedure/EN/2023_437 and here: https://oeil.secure.europarl.europa.eu/oeil/en/procedure-file?reference=2023/0437(COD)
    Last updated: 22 April 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB supports innovative climate action in emerging markets alongside private equity firm LeapFrog Investments

    Source: European Investment Bank

    EIB

    • EIB Global commits $60 million to Climate Investment Strategy of LeapFrog Investments alongside World Bank Group’s International Finance Corporation on margins of Spring Meetings in Washington.
    • LeapFrog aims to deploy $500 million for green technologies in Africa and Asia.
    • Other partners include the World Bank Group’s International Finance Corporation, Singaporean investment firm Temasek and the Swiss Development Finance Institution

    The European Investment Bank is accelerating the use of green technologies in Africa and Asia with a $60 million pledge for private equity firm LeapFrog Investments (LeapFrog). The pledge by the EIB, financial arm of the European Union,  is for a LeapFrog Climate Investment Strategy that has also drawn support from the World Bank Group’s International Finance Corporation (IFC), Singapore headquartered global investment companyTemasek and the Swiss Development Finance Institution (SIFEM).

    LeapFrog aims to deploy $500 million under its Climate Investment Strategy to scale green tools and technologies for consumers in Africa and Asia. Millions of people are expected to have access to better and greener transport, energy, food and housing as a result of the initiative.

    EIB Group President Nadia Calviño said: “Today’s announcement is an example of public-private partnership at its best, and a strong statement on Europe’s climate leadership. At the EIB, we are staying the course and consolidating our role as The Climate Bank.”

    Consumers in South Asia, Southeast Asia and Africa account for 25% of global emissions of greenhouse gases, a figure set to rise to as much as 73% by 2030 without a green transition. Directing capital in these markets to actions that counter climate change is key to fostering long-term and sustainable economic growth.

    An initial investment under LeapFrog’s Climate Investment Strategy supports Battery Smart, India’s largest battery-as-a-service provider for two and three wheelers, providing riders with low-carbon mobility. Other sectors of interest include rooftop solar and clean cooking.

     “The world’s four billion  consumers in emerging markets constitute half of humanity – they have every right to rise but, without green tools and technologies, their total emissions will blow through the world’s carbon budget. This is also where the greatest opportunities lie — investing to support  a generational  transition for the majority of global consumers and producers. We are grateful to have the support of our longstanding partners EIB, IFC and Temasek in achieving this mission,” said Dr Andy Kuper, CEO and Founder of LeapFrog Investments.

    LeapFrog’s Climate Investment Strategy was recognised today at the World Bank Group and International Monetary Fund Spring Meetings by the heads of the EIB Group, LeapFrog and by IFC Vice-President of Industries Mohammed Gouled and Temasek CEO Dilhan Pillay.

    Background information

    About the European Investment Bank Group:

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.   

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here. 

    About LeapFrog Investments

    LeapFrog invests in healthcare, financial services and climate solutions businesses in high-growth global markets. Its companies deliver distinctive impact and robust returns, growing revenues on average 23% a year. LeapFrog companies now reach 537 million people with essential services in 37 countries. The firm has raised billions of dollars from global institutional investors, including a $500m commitment by Temasek to LeapFrog and its growth equity funds. LeapFrog has twice been ranked by Fortune as one of the top Companies to Change the World, alongside Apple and Novartis, and was named inaugural Pioneer in Impact by the FT and IFC at the Transformational Business Awards.

    For more information, go to: www.leapfroginvest.com.

    EIB supports innovative climate action in emerging markets alongside private equity firm LeapFrog Investments
    EIB supports innovative climate action in emerging markets alongside private equity firm LeapFrog Investments
    ©EIB
    Download original

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Possible double counting of CO2 and distortions caused by unclear rules on the use of subsidised options such as biomethane to meet requirements – E-001494/2025

    Source: European Parliament

    Question for written answer  E-001494/2025
    to the Commission
    Rule 144
    Martin Sonneborn (NI)

    Regulation (EU) 2023/1805 on the use of renewable and low-carbon fuels in maritime transport aims to cut greenhouse gas emissions produced by maritime transport. The regulation refers to the sustainability and emissions performance criteria in the Renewable Energy Directives (RED II/III). The question of whether or not already subsidised options for meeting those criteria, such as subsidised biomethane and similar energy sources, can be used to meet the targets is left open, however.

    This creates a risk that the same CO2 is counted twice: once in the country of origin – through national support programmes such as feed-in tariffs – and again in calculations relating to the obligations arising from the regulation. In the absence of a clear legal framework, there is a risk that subsidised options are promoted over non-subsidised options, given that subsidised options are often available on the market at lower prices.

    Revised Directive 2003/87/EC on the inclusion of shipping in the scheme for greenhouse gas emission allowance trading (EU ETS) expressly and repeatedly calls for double counting to be avoided. It remains unclear whether that requirement is also incorporated into the regulation.

    • 1.Is there a guarantee that greenhouse gas reductions are not counted twice for the purposes of this regulation?
    • 2.Can subsidised options to meet requirements be taken into account, provided that they meet the criteria of the Renewable Energy Directives?
    • 3.Does the Commission intend to issue corresponding guidelines or delegated acts? If so, when are they planned to be published?

    Submitted: 10.4.2025

    Last updated: 22 April 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: EIB Water Sector Fund doubles in size with support from the Netherlands

    Source: European Investment Bank

    The European Investment Bank (EIB)’s Water Sector Fund has received a significant boost from the Dutch government with a €31 million contribution, doubling the fund’s size. This substantial commitment, provided through the Dutch state-owned development financier Invest International, will bolster the EIB’s capacity to provide technical and financial support for high-impact water investments in low and lower-middle-income countries.

    The new funding will be specifically used to enhance water security in Jordan through the Aqaba-Amman Water Desalination and Conveyance project.

    The Minister of Planning and International Cooperation, Zeina Toukan, commended the Dutch government, Invest International, and EIB’s Water Sector Fund for their support of this critical project as part of the Team Europe initiative on Green Economy. “This project will provide an important source of water and contribute to enhancing economic development in Jordan.”

    “We are proud to partner with the EIB in supporting the Aqaba-Amman Water Desalination and Conveyance project through the Water Sector Fund. This investment is vital for enhancing water security in Jordan and addressing water challenges, which have been exacerbated by regional conflicts and climate change. The investment demonstrates our commitment to addressing global challenges through innovation and collaboration,” said Ms. Petra Vernooij Invest International’s Director for Public Infrastructure.

    “This significant contribution from the Netherlands underscores our shared commitment to ensuring access to safe and sustainable water resources,” said EIB Vice-President Gelsomina Vigliotti. “The Water Sector Fund plays a crucial role in mobilising finance for essential projects, and this new funding will allow us to expand our impact in Jordan.”

    The Water Sector Fund, established by the EIB and the Dutch government, targets projects in regions where public authorities have limited resources to develop adequate water infrastructure. The fund’s technical assistance and advisory services support institutional skill development, project preparation, and innovative solutions, investment grants help to decrease the total funding needs for the promoter at given investment project costs. The Water Sector Fund provides financial instruments to leverage private and public investment in water, sanitation, and hygiene projects and is open to further contributions from donors seeking to promote a greater impact in this sector.

    This new €31 million contribution represents the fourth agreement between the EIB and the Netherlands to support the Water Sector Fund.

    The contribution is earmarked for the Aqaba-Amman Water Desalination and Conveyance project, Jordan’s largest water generation scheme. This project aims to address the country’s dire water scarcity by generating 300 million cubic meters of potable water per year. The project includes the development of seawater abstraction, desalination, and water conveyance infrastructure. The fund’s contribution will be disbursed as an investment grant, blended with a sovereign loan already agreed with the EIB and project financing expected to be finalised later this year.

    The Ministry for Planning and International Cooperation of Jordan and Dutch government announced the grant support for the Aqaba-Amman Water Desalination and Conveyance Project during a signature event in Amman. The funds will be channelled through the EIB’s Water Sector Fund.

    “Making additional, non-ground water available through desalination is crucial for water security,’ said Harry Verweij, Ambassador of the Kingdom of the Netherlands to Jordan. ‘The Netherlands is proud to partner with the EIB and Jordan in the Aqaba Amman Water Desalination and Conveyor Project. This will secure future supplies of drinking water, including for vulnerable communities, and support economic growth in the country.”

    The EIB is one of the world’s largest lenders to the water sector, providing over €33 billion for water investment over the last decade. The Water Sector Fund’s innovative financial structure has helped to mobilize additional funding from other investors to share risks and accelerate project development.

    In 2023, the fund supported its first private equity fund, the Water Access Acceleration Fund. The fund is currently active in sub-Saharan Africa, with projects in developing countries around the globe also eligible.

    The EIB is expected to sign a grant agreement with the Jordanian government for this project in the coming weeks.

    Background information

    About EIB Global

    EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world. 

    About the Water Sector Fund

    The Water Sector Fund was developed by the EIB and the Dutch government to support water projects in low and lower-middle income countries in support of the UN’s 6th Sustainable Development Goal “Clean Water and Sanitation”. The fund provides technical assistance, advisory services, and financial instruments.

    .willis@eib.org”>r.willis@eib.org, tel.: +352 43 79 82155 / Mobile:  +352 621 55 57 58
    Website: www.eib.org/press – Press Office: press@eib.org

    MIL OSI Europe News –

  • MIL-OSI Security: Walgreens Agrees to Pay up to $350 Million for Illegally Filling Unlawful Opioid Prescriptions and for Submitting False Claims to the Federal Government

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    WASHINGTON – The Justice Department, together with the Drug Enforcement Administration (DEA) and Department of Health and Human Services Office of Inspector General (HHS-OIG), today announced a $300 million settlement with Walgreens Boots Alliance, Walgreen Co. and various subsidiaries (collectively, Walgreens) to resolve allegations that the national chain pharmacy illegally filled millions of invalid prescriptions for opioids and other controlled substances in violation of the Controlled Substances Act (CSA) and then sought payment for many of those invalid prescriptions by Medicare and other federal healthcare programs in violation of the False Claims Act (FCA). The settlement amount is based on Walgreens’s ability to pay. Walgreens will owe the United States an additional $50 million if the company is sold, merged, or transferred prior to fiscal year 2032. 

    The government’s complaint, filed on Jan. 16 and amended April 18 in the U.S. District Court for the Northern District of Illinois, alleges that from approximately August 2012 through March 1, 2023, Walgreens, one of the nation’s largest pharmacy chains, knowingly filled millions of unlawful controlled substance prescriptions. These unlawful prescriptions included prescriptions for excessive quantities of opioids, opioid prescriptions filled significantly early, and prescriptions for the especially dangerous and abused combination of three drugs known as a “trinity.” Walgreens pharmacists allegedly filled these prescriptions despite clear “red flags” indicating a high likelihood that the prescriptions were invalid because they lacked a legitimate medical purpose or were not issued in the usual course of professional practice. 

    The complaint further alleges that Walgreens pressured its pharmacists to fill prescriptions quickly and without taking the time needed to confirm that each prescription was lawful. Walgreens’s compliance officials also allegedly ignored substantial evidence that its stores were dispensing unlawful prescriptions and even intentionally deprived its own pharmacists of crucial information, including by refusing to share internal data regarding prescribers with pharmacists and preventing pharmacists from warning one another about certain problematic prescribers.

    In light of Friday’s settlement, the United States has moved to dismiss its complaint. Walgreens will also move to dismiss a related declaratory judgment action filed in U.S. District Court for the Eastern District of Texas.

    “Pharmacies have a legal responsibility to prescribe controlled substances in a safe and professional manner, not dispense dangerous drugs just for profit,” said Attorney General Pamela Bondi.  “This Department of Justice is committed to ending the opioid crisis and holding bad actors accountable for their failure to protect patients from addiction.”

    “This settlement holds Walgreens accountable for failing to comply with its critical responsibility to prevent the diversion of opioids and other controlled substances,” said John J. Durham, United States Attorney for the Eastern District of New York.  “The settlement also underscores our Office’s continued commitment to ensure that all persons and businesses that fill controlled-substance prescriptions adhere to the requirements of the Controlled Substances Act that are designed to prevent highly addictive medications from being used for illegitimate purposes.”   

    “This settlement resolves allegations that, for years, Walgreens failed to meet its obligations when dispensing dangerous opioids and other drugs,” said Deputy Assistant Attorney General Michael Granston of the Justice Department’s Civil Division. “We will continue to hold accountable those entities and individuals whose actions contributed to the opioid crisis, whether through illegal prescribing, marketing, dispensing, or distributing activities.”

    In addition to the monetary payments announced today, Walgreens has entered into agreements with DEA and HHS-OIG to address its future obligations in dispensing controlled substances. Walgreens and DEA entered into a Memorandum of Agreement that requires the company to implement and maintain certain compliance measures for the next seven years. Walgreens must maintain policies and procedures requiring pharmacists to confirm the validity of controlled substance prescriptions prior to dispensing controlled substances, provide annual training to pharmacy employees regarding their legal obligations relating to controlled substances, verify that pharmacy staffing is sufficient to enable pharmacy employees to comply with those legal obligations, and maintain a system for blocking prescriptions from prescribers whom Walgreens becomes aware are writing illegitimate controlled substance prescriptions. Walgreens has also entered into a five-year Corporate Integrity Agreement with HHS-OIG, which further requires Walgreens to establish and maintain a compliance program that includes written policies and procedures, training, board oversight, and periodic reporting to HHS-OIG related to Walgreens’s dispensing of controlled substances. 

    The civil settlement resolves four cases brought under the qui tam, or whistleblower, provisions of the FCA by former Walgreens employees. The FCA authorizes whistleblowers to sue on behalf of the United States and receive a share of any recovery.  It also permits the United States to intervene and take over such lawsuits, as it did here. The relators will receive a 17.25% share of the government’s FCA recovery in this matter.

    The claims asserted against defendants are allegations only and there has been no determination of liability.

    The United States’ pursuit of this matter underscores the government’s commitment to combating health care fraud. One of the most powerful tools in this effort is the False Claims Act.  Tips and complaints from all sources about potential fraud, waste, abuse, and mismanagement can be reported to HHS, at 800-HHS-TIPS (800-447-8477).

    The United States is represented in this matter by attorneys from the Justice Department’s Civil Division Consumer Protection Branch (Assistant Director Amy DeLine and Trial Attorney Nicole Frazer) and Commercial Litigation Branch, Fraud Section (Assistant Director Natalie Waites and Trial Attorney Joshua Barron), as well as from the U.S. Attorneys’ Offices for the Northern District of Illinois (Assistant U.S. Attorney Valerie R. Raedy), Middle District of Florida (Chief of the Civil Division Randy Harwell and Assistant U.S. Attorney Carolyn Tapie), District of Maryland (Chief of the Civil Division Thomas Corcoran), Eastern District of New York (Assistant U.S. Attorney Elliot M. Schachner) and Eastern District of Virginia (Assistant U.S. Attorney John Beerbower). Fraud Section senior financial analyst Karen Sharp provided support for the matter.

    The DEA, HHS-OIG, Defense Criminal Investigative Service, Defense Health Agency (DHA), Office of Personnel Management (OPM), Department of Labor (DOL) Office of Inspector General, Department of Veterans Affairs (VA), Office of Inspector General, FBI Chicago Field Office, and the U.S. Attorneys’ Offices for the District of Colorado, Southern District of California, Eastern District of California, Northern District of California, Eastern District of Washington, Southern District of Alabama, Southern District of Illinois, Central District of Illinois, District of Arizona, Western District of Texas, Northern District of Texas, District of Puerto Rico, and Eastern District of Louisiana provided substantial assistance in the investigation.

    MIL Security OSI –

  • MIL-OSI: TMD Energy Limited Announces Closing of Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, MALAYSIA, April 22, 2025 (GLOBE NEWSWIRE) — TMD Energy Limited (the “Company”) (NYSE American: TMDE), together with its subsidiaries is a Malaysia and Singapore based services provider engaged in integrated bunkering services which involves ship-to-ship transfer of marine fuels, ship management services and vessel chartering services, today announced the closing of its previously announced initial public offering of 3,100,000 ordinary shares, par value US$0.0001 per share (the “Shares”) at a public offering price of US$3.25 per share to the public (the “Offering”), for a total of approximately US$10.08 million gross proceeds to the Company, before deducting underwriting discounts and offering expenses. The Shares began trading on the NYSE American on April 21, 2025, under the symbol “TMDE”.

    In addition, the Company has granted the underwriters an option, exercisable within 45 days from the closing date of the Offering, to purchase up to an additional 465,000 Shares at the public offering price, less underwriting discounts, to cover the over-allotment option, if any.

    The Company intends to use the net proceeds from the Offering for (i) the purchase of cargo oil; (ii) defraying listing expenses; and (iii) working capital and other general corporate purposes.

    Maxim Group LLC (“Maxim”) acted as sole book-running manager of the Offering. Loeb & Loeb LLP acted as legal counsel to the Company, and Pryor Cashman LLP acted as legal counsel to Maxim Group LLC in connection with the Offering.

    A registration statement on Form F-1, as amended (File No.: 333-283704) relating to the Offering was initially filed with the Securities and Exchange Commission (the “SEC”) on December 10, 2024 and was declared effective by the SEC on March 31, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, United States of America or by email at syndicate@maximgrp.com. In addition, a copy of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

    This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation, or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

    About TMD Energy Limited

    TMD Energy Limited and its subsidiaries (“TMDEL Group”) are principally involved in marine fuel bunkering services specializing in the supply and marketing of marine gas oil and marine fuel oil of which include high sulfur fuel oil, low sulfur fuel oil and very low sulfur fuel oil, to ships and vessels at sea. TMDEL Group is also involved in the provision of ship management services for in-house and external vessels, as well as vessel chartering. As of today, TMDEL Group operates in 19 ports across Malaysia with a fleet of 15 bunkering vessels. For more information, please visit the Company’s website at: www.tmdel.com.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including but not limited to, the Company’s Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    For investor and media inquiries, please contact:

    TMD Energy Limited
    Email: corporate@tmdel.com

    WFS Investor Relations
    Email : services@wealthfsllc.com

    The MIL Network –

  • MIL-OSI Video: Pope Francis, Mother Earth Day & other topics – Daily Press Briefing (22 April 2025)

    Source: United Nations (Video News)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    Highlights:
    Pope Francis
    Mother Earth Day
    Senior Personnel Appointment
    Occupied Palestinian Territory
    Haiti
    Colombia
    Bolivia
    Ukraine
    Good Defeats Evil

    POPE
    The Secretary-General intends to travel to Rome to attend the funeral of Pope Francis. When we have more details we will share them.

    MOTHER EARTH DAY
    Today is International Mother Earth Day. In his message, the Secretary-General said Mother Earth is running a fever with last year being the hottest ever on record.
    We know what’s causing this sickness, he said, referring to the greenhouse gas emissions humanity is pumping into the atmosphere, but we also know the cure. All countries must create new climate action plans that align with limiting global temperature rise to 1.5 degrees Celsius – it is essential to avoid the worst of climate catastrophe, he said.
    And as a reminder, tomorrow the Secretary-General, together with President Lula of Brazil, will convene a group of Heads of State and Government for a virtual closed-door meeting to discuss strengthening global efforts to tackle the climate crisis and accelerate a just energy transition. The Secretary-General is expected to deliver some remarks on climate to you at the Security Council stakeout after the meeting. We’ll share more details as we have them.
    And what better way to celebrate Mother Earth Day than with a fashion show. We are unveiling a new tour guide uniform collection this evening at 6:15 p.m. during a fashion show in the Sputnik area of the Visitor’s Lobby. This is a collaboration between the Government of Sweden, the UN Office for Partnerships, the UN Department of Global Communications, and students from the Swedish School of Textiles at the University of Borås. This partnership reflects a shared commitment to sustainable lifestyle, fashion and innovation. Designed with natural fibers, renewable materials, and low-impact production methods, the uniforms embody a fusion of creativity, inclusivity, and environmental responsibility. We look forward to seeing our tour guides in their new uniforms, they have the toughest job in the building.

    SENIOR PERSONNEL APPOINTMENT
    The Secretary-General is appointing of Ian Martin of the United Kingdom as Head of the Strategic Assessment, as part of his UN80 initiative, of the United Nations Relief and Works Agency for Palestine Refugees, that you all know as UNRWA.
    The Secretary-General is tasking Mr. Martin with conducting the Strategic Assessment in order to review UNRWA’s impact; implementation of its mandate under present political, financial, security and other constraints; and, consequences and risks for Palestine Refugees.
    As you all know, Ian Martin has had a distinguished service within the United Nations. He was involved in a number of strategic reviews, most recently as the Lead of the Independent Strategic Review of the UN Mission in Somalia and before then as a member of the
    High-Level Independent Panel on Peace Operations. We will share that announcement with you.

    OCCUPIED PALESTINIAN TERRITORY
    Meanwhile on the ground in Gaza, the situation continues to worsen. Our humanitarian colleagues report that hostilities across the Gaza Strip are continuing, with a devastating toll on civilians and critical infrastructure. Earlier today, local authorities reported attacks by Israeli forces that struck several heavy machinery vehicles across Gaza, halting solid waste and rubble removal services.
    Despite the ongoing hostilities and despite the fact that aid has not come in for more than 50 days, we and our partners are doing what we can to support people throughout the Strip. In Gaza City yesterday, the acting Humanitarian Coordinator for the Occupied Palestinian Territory, Suzanna Tkalec, led a mission to Al Shifa Hospital, where she and partners viewed work underway to install a desalination plant to serve dialysis patients at the facility.
    Our partners also report that several people suffering from severe acute malnutrition have been admitted to hospitals for treatment this week, with cases on the rise.
    Despite extremely low supplies, some 180 community kitchens in Gaza continue to operate every day. However, many of these kitchens are at imminent risk of shutting down since stocks are being depleted. Because of lack of cooking gas, families are resorting to burning plastic to cook their meals.

    Full highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=22%20April%202025

    https://www.youtube.com/watch?v=el5ekOhkhYk

    MIL OSI Video –