Category: Transport

MIL-OSI Economics: Isabel Schnabel: Interview with the Financial Times

Source: European Central Bank

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Olaf Storbeck on 14 February 2025

19 February 2025

How relevant is the natural rate – R* – for day-to-day policymaking from your point of view?

The natural rate of interest is an important theoretical concept. But it’s not well-suited to determine the appropriate monetary policy stance. The ECB staff analysis that was published recently had one main message: we know that we know very little. Model and estimation uncertainty result in confidence bands that are so wide that they include any reasonable interest rate that the ECB may set at this point. Moreover, R* is a steady-state concept for a world without shocks. That’s certainly not the world that we are in today. Just look at what’s happening with the evolving trade conflict on which we are getting news on a daily basis. So for all those reasons, I think R* cannot be any reliable guide for monetary policy in real time.

Has your view on this changed?

The point I have always emphasised is how R* is evolving over the longer term. People have focused too much on the narrow range for R* that was given in the staff note. This is misleading for several reasons. The narrow range only includes the models for which estimates were already available for the fourth quarter of 2024. If you look at the R* estimates for the third quarter, you see that the range actually goes up all the way to 3%. This is even above the current deposit facility rate of 2.75%. And that range still only includes the uncertainty stemming from using different models. If you add the parameter and filtering uncertainty, you get even wider bands. The one thing that you do see is that the overall range seems to have moved up over recent years. For me, that is the key point.

But the most recent ECB estimates of R* also suggest that the current level is still lower than it was before the global financial crisis and the European sovereign debt crisis.

That remains to be seen. There has been a clear upward trend. I expect this trend to continue for a number of reasons, including high and rising public debt and the huge investment needs for the digital and green transitions. Another factor is increasing global fragmentation. It leads to a partial reversal of the global savings glut, due to shrinking current account surpluses of some major economies, which was one of the main factors that had pushed R* down. So for me, the main message from the R* analysis is: maintaining price stability over the medium term is likely to require higher real rates in the future than before the pandemic. We cannot pin down the level of R* with any degree of confidence, but we can get an impression about the direction. For me, that direction for R* now is upwards again.

The Euro zone economy suffers from a lack of economic dynamism and economic growth. Doesn’t this put downward pressure on the natural interest rate?

Yes, there have been secular factors that have pushed R* down. But we are currently in a situation of transformation that may actually reverse that trend. That’s the whole point.

When you say that R* is not very helpful for short-term monetary policymaking, why have you stressed it so much in your speeches and interviews?

It’s important that we understand general macroeconomic trends. Also in the pre-pandemic period, it was very important to understand the underlying natural real rate environment. It can never be precise, but it helps us understand the broader picture. It has no impact on any individual rate decision.

But would you say that it is relevant for the medium-term trajectory of monetary policy, let’s say for the next year or two? Or does it only matter over the next ten or 20 years?

I think it has an impact on our medium-term thinking.

Medium-term thinking would mean: it matters over the next two to three years, right?

Well, it’s hard to pin down precisely.

Some ECB observers have suggested that the natural rate was used by more hawkish voices as an argument in favour of being more careful and not lowering interest rates too fast. Would you agree?

If you believe that R* has moved up, this argues for a more cautious approach. But this cannot just depend on R*. We need to look at the incoming data in order to understand how restrictive our monetary policy is. And the more evidence we have that monetary policy is no longer restrictive, the more cautious we have to become because further rate cuts may no longer be appropriate.

So how restrictive is the ECB’s monetary policy at the moment?

The data are showing that the degree of restriction has come down significantly, up to a point where we can no longer say with confidence that our monetary policy is still restrictive. One of the important data sources in this context is the bank lending survey.

We’re looking at that very carefully. For corporate loans, 90% of banks said in the most recent round that the general level of interest rates has no impact on loan demand, while 8% said it has lifted credit demand. A year ago, a third of banks said that interest rates were weighing on loan demand. It’s even clearer when you look at mortgages. Almost half of banks said in the most recent round that the general level of interest rates is supporting loan demand. A year ago, more than 40% said that it was constraining loan demand. This is also reflected in a historically strong increase in mortgage demand in that same survey, which is gradually transmitting into the hard data on loan growth. Corporate loans were growing by 1.5% in December, mortgages by 1.1%.

The easing is also being transmitted to the real economy. Consumption picked up in the third quarter by more than we had expected. And the savings rate has started to come down from its very high level. But of course, there are transmission lags, and part of the easing is still in the pipeline.

You said that you can’t say with confidence anymore if monetary policy is still restrictive. The last ECB policy statement clearly stated that it still is. Do you have a different view than the ECB stated in its latest policy statement?

No, I fully agreed with the statement last time. But we are now a step further, right? The January monetary policy statement referred to the interest rate of 3% and the level of restrictiveness before the latest monetary policy decision. The further we go down, the lower my conviction in such a statement will be. And note that I’m not saying our monetary policy is no longer restrictive. What I’m saying is I’m no longer sure whether it is still restrictive. But we should not overstate a difference of 25 basis points.

Should the ECB drop the reference to restrictiveness in March?

That is a discussion we should have in the next meeting.

In an FT survey of Euro zone economists just before Christmas, half of them said they think that the ECB is behind the curve. What is your view on this?

I’m firmly in the camp of the other half who think that we are right on track. The data that we’ve seen have confirmed that our gradual and cautious approach has been appropriate. Domestic inflation is still high, wage growth is still elevated, and we’ve seen new shocks to energy prices. We’ve also seen that inflation expectations are very sensitive to such shocks. So I think our approach is just right.

Some economists argue that the big uncertainty and all those shocks could justify insurance cuts. Do you have any view on that?

I don’t see any argument for that at this point, especially as we are getting closer to no longer being restrictive. If anything, we are getting closer to the point where we may have to pause or halt our rate cuts.

Pause or halt… but not increase?

No. That I would exclude.

How close do you think we are to the point where the ECB should pause its easing?

I will leave that to your interpretation. I don’t know what’s going to happen in the next meetings, so let’s see. But we need to start that discussion.

That’s not what markets take as the base case scenario right now. Do you think that markets are ahead of themselves?

Well, markets have been jumping around a bit in response to what is happening in the world. But an April rate cut is no longer fully priced in. So markets are not entirely sure either.

How well is monetary transmission working at the moment? We saw quite an uptick in yields in December although there wasn’t any change in monetary policy. All other things being equal, this slows down monetary policy transmission, doesn’t it?

We have lowered the deposit facility rate by 125 basis points over the past eight months, and this has been transmitted smoothly to short-term market rates. We’ve also seen that bank lending rates have come down quite a bit – corporate loan rates by 92 basis points and mortgage rates by 64 basis points by December. This is significant. It tells you that transmission is working. When it comes to government bond yields, it’s important to look through the short-term volatility and take a somewhat longer perspective. And what you see then is that sovereign bond yields have remained rather stable. We had a strong repricing in 2022, when the ten-year Bund moved from negative territory at the end of 2021 to around 2.4% in October 2022. That is very close to the number that we’re seeing today. So we’ve been seeing a return of long-term sovereign bond yields to their new normal. We shouldn’t overstate the short-term volatility that we’ve experienced over the past weeks.

There’s another aspect that is quite important. One of the most interesting features of this tightening cycle is that it has not led to a comparable tightening of broader financial conditions. The exceptionally strong risk appetite of financial investors has even boosted equity prices and compressed credit spreads, and that has weakened monetary policy transmission. And part of that is due to the fact that we are still holding a very large monetary policy bond portfolio.

But overall, also taking into account the lags, monetary policy transmission is working fine.

Is the ECB’s “meeting-by-meeting” communication really credible? The ECB now says that the direction of travel is clear. Isn’t this a pre-commitment to further rate cuts?

I firmly believe in the meeting-by-meeting approach. The current time of high volatility is certainly not the time to tie our hands through forward guidance. And this is also what we stress in our monetary policy statements: we are not pre-committing to any particular rate path. At the time when it was still relatively clear that monetary policy was restrictive, one could infer the direction of travel from that. But this is no longer the case. And therefore, for me, the direction of travel is not so clear anymore.

Is this view shared by the majority of the Executive Board or the Governing Council?

It’s not for me to comment on that. It’s going back to the point that we now have to start the discussion on how far we should go. I’m not saying that we’re there yet. But we have to start the discussion.

If we take the meeting-by-meeting approach and data dependency as a given, does the type of data that has to be assessed need to change over time?

There are broadly two sets of data that we need to focus on. The first one refers to the inflation outlook: inflation itself, inflation expectations, wages, productivity, exchange rates. We use incoming data to cross-check the assumptions underlying our projections. This is why I never saw data dependence as a backward-looking concept. It was always forward-looking because we use incoming data to learn more about the credibility of our inflation outlook. The second set of data relates to the level of restrictiveness of monetary policy: interest rates, broader financial conditions, lending markets, the housing market as well as domestic demand, that is consumption, savings and investment. Of course, when we have a monetary policy meeting, we always look at all available data.

Can I challenge you on your claim that it was always forward-looking? At the time of high inflation, the ECB put a lot of emphasis on the actual inflation data from the previous month, which by definition is backward-looking. GDP numbers are by definition also very backward-looking.

I don’t agree. What do we learn from the current inflation data? We learn whether the transmission of our policy or of shocks is working as expected. High services inflation tells us something about its stickiness. If we spot deviations, we will eventually adjust our models but we also have to change our view about the medium-term outlook. So, in my view it was never backward-looking.

Data dependence is all the more important in today’s world. Some people say that the projections have become more credible. But who knows what’s going to happen as regards the trade conflict, the war in Ukraine and so on. We are faced with an unusual number of shocks, and that requires us to be always able to react. I don’t have a fixed mindset about what to do. Quite the opposite. I think we need to be able to adjust to whatever data or shock is coming in and what’s happening in the world and in the euro area economy.

What are the current data telling us about the inflation outlook?

Both services inflation and wage growth are still at an uncomfortably high level. Our projections foresee a deceleration of both. But this still needs to materialise. Services inflation has been stuck at around 4% since November 2023, and it still has to come down. For me, this is actually quite important. And therefore, the incoming data will be very relevant because our projections foresee a relatively quick deceleration of services inflation over this year.

How quickly do you want to see service inflation coming down?

It should start to come down in February. That’s what we expect. Over time, it does not necessarily have to come down to 2% but to a level that is consistent with our medium-term 2% target. Wage growth is also still high, but we have many indications that it is going to decelerate. For example, our wage tracker shows that wage growth is expected to drop steeply in the second half of the year. Part of that is due to a base effect from one-off payments. Hence, wage growth is expected to stay relatively elevated over the first half of the year. So we still need to see this deceleration. This is something that I pay a lot of attention to.

How concerned are you about recent swings in energy prices?

Energy and food prices can always offer surprises. We have seen some relatively strong moves in energy prices recently. Gas prices moved up a lot. That was mainly driven by cold temperatures. Very recently, gas prices dropped sharply. This seems to be driven partly by uncertainty about whether countries will fill up their gas storages as quickly as originally intended. A second reason is the debate about a potential ceasefire in Ukraine. This can cause a lot of volatility, which can have a strong impact on headline inflation and also on underlying inflation because energy serves as an input. We have to monitor this carefully.

What are the implications for monetary policy from energy price volatility? Is this deflationary or inflationary?

Recent volatility has been extreme. Before the recent fall in gas prices it was clearly inflationary. But now we have to see how that is going to play out. In general, I see risks to our inflation outlook as somewhat skewed to the upside. So I would not exclude that inflation comes back to 2% later than we had anticipated. But that remains to be seen.

The ECB this year will review its monetary strategy. President Lagarde has excluded the current inflation target from that review. Do you think that’s the right call?

Our symmetric, medium-term inflation target of 2% has served us very well in the high inflation period. So I really don’t see any reason to question it. And I believe there is strong support for this view in the Governing Council. What we have seen, however, is how quickly the inflation environment can change. And we have also learned how much people dislike inflation. But for me, that has implications primarily for the reaction function and not for the target. I think these two should be kept apart.

What are the potential implications for the reaction function?

The reaction function should be part of the debate. Back in 2021 during the previous strategy review, the discussion was very much under the impression of the low-for-long period. The main concern at the time was that our monetary policy was constrained by the effective lower bound on interest rates. When you read the monetary policy strategy statement today, you would think it comes from a different world. It focused on the risk of inflation being too low, and stated that we should be particularly forceful or persistent in such a scenario. But we have shifted to a new world. The past few years have shown that there are also risks of a de-anchoring of inflation expectations to the upside and that upside inflation risks can materialise quickly and become more persistent due to second-round effects. And therefore, I believe that the new reaction function should be symmetric in order to take into account the risks in both directions. This is especially true given that we are likely to face more adverse supply-side shocks going forward.

So effectively you are arguing in favour of a more hawkish reaction function?

I don’t like these notions of hawks and doves, and I don’t think that they are relevant here. My point is that our reaction function should acknowledge the fundamental shift of the macroeconomic environment. Up to 2021, we paid very little attention to upside risks to inflation. There was the perception that central banks would know precisely how to deal with a surge in inflation. But we’ve experienced that it has been quite difficult. Inflation has been above target now for almost four years. Looking forward, we should be putting equal weight on risks in both directions. And I wouldn’t call that a hawkish assertion.

Should the ECB toolkit be changed?

We’ve gained a lot of experience with the different tools. I do believe that all the tools we have should remain in our toolkit. But we’ve learned how important it is to carefully weigh the benefits and costs of our instruments – especially when it comes to asset purchases. They have proven very effective in stabilising markets. But as a monetary policy stance instrument, they have been less beneficial and costlier than we thought. This should be taken into account. The same applies to forward guidance. Many people believe that forward guidance led to a delayed response to the inflation surge. So forward guidance is another tool that we need to look at very carefully.

Are you implicitly saying that ECB should not have done as much quantitative easing as it did in the years up to 2021?

My point is that once we are back to a more normal world – a situation where inflation expectations are well anchored, and services inflation and unit labour cost growth have come down – and we are confident that we are sustainably back at our target, then we could become more tolerant of moderate deviations from our target. We should stop fine-tuning and responding to single data points. We should instead focus on large persistent shocks that give rise to a risk of a de-anchoring of inflation expectations in either direction.

So is your point that the ECB should be more willing to tolerate downward deviations to the 2% target in a steady state?

We should be more willing to tolerate both moderate downward and upward deviations, and act when there is a threat of de-anchoring.

But that’s an implicit change to the inflation target, is it not?

No, not at all. My point is that we should be less activist and rather take the time to assess whether shocks pose a serious risk to inflation expectations. Of course, we should keep in mind that the vulnerability of inflation expectations may have changed after the recent inflation experience. People have learned that inflation can increase sharply and that this is very harmful. Firms have learned that they can reprice relatively quickly, and we have to take this into account.

Finally, we need to think about how to deal with the uncertainty around our economic and inflation outlook. For me, the most useful way to deal with that is to make greater use of scenario analysis – and in a different way than we’ve done over the past years. Back then we were looking at tail risks, which was very useful. But in the future, we should also look at plausible alternative scenarios in order to get away from the illusion of precision that we create by just focusing on the baseline point estimate. We all know there is a lot of uncertainty around it. So I think it would be important to also look at plausible alternative scenarios to illustrate this uncertainty.

MIL OSI Economics –

February 20, 2025
MIL-OSI United Kingdom: expert reaction to the announcement of the expansion of the OpenSAFELY data platform
Source: United Kingdom – Executive Government & Departments

February 19, 2025

Scientists comment on the expansion of the OpenSAFELY data platform.

Prof Andrew Morris, Director of HDR UK, said:

“OpenSAFELY is an excellent example of what is possible when we get health data right with the confidence of patients, the public and health professionals. Access to comprehensive GP data across all of England is a great step forward for safe and approved research. GP data offers greater breadth and depth than hospital data, providing a detailed picture of people’s health over time. Many common conditions, like arthritis, depression and back pain are mostly managed by GPs, so this data is vital for research that can improve care for millions.

“The OpenSAFELY platform is one that proved its worth during the pandemic, giving us much needed knowledge about COVID-19. It permits researchers to work with the information the data provides – while preventing them from accessing the data itself. Now by moving beyond COVID-19, researchers will be able to uncover groundbreaking insights that can improve the health and well-being of countless individuals. Significant challenges remain – the system is still evolving, with much work still to be done. But as OpenSAFELY and other initiatives show, the UK has both the skills and the will to make it work.

“The UK has long been a global leader in health data research. But to stay ahead, we must make coordinated investments in secure data infrastructure if data driven research is to power improvements in patient care, public health, NHS efficiency, clinical trials and enable medical discovery. This includes secure data sharing with flagship programmes such as Our Future Health, UK Biobank and Genomics England.”

Professor Sir Rory Collins, Principal Investigator and CEO of UK Biobank, said:

“The expansion of OpenSAFELY should be welcomed as it enhances an innovative and useful tool for health researchers working on GP data. However, the most significant leaps in scientific discovery will come from comparing many different types of data simultaneously, and at scale. For example, the 20,000 researchers who use UK Biobank can analyse over 10,000 variables on many of our 500,000 volunteers, with whole genome sequencing being just one of those.

“It is this ability to study the genetic, imaging, lifestyle, secondary and – soon – primary care data in combination that is so vital for research. That’s why we’ve seen over 14,000 peer-reviewed papers published using UK Biobank data, including developments that should lead to better diagnostics and treatments for conditions such as diabetes, dementia and heart disease.

“GP data is a critical national asset, and both researchers and patients will benefit from this expansion. The next step is adding consented GP data to larger datasets, and we at UK Biobank are delighted to be working with NHS England to add the de-identified primary care data of our 500,000 volunteers.”

Prof Sheila Bird, Honorary Professor, University of Edinburgh’s College of Medicine and Veterinary Medicine; and Visiting Senior Fellow at the MRC Biostatistics Unit, University of Cambridge, University of Cambridge, said:

“Dr. (now Professor) Ben Goldacre, a physician by profession, was first to receive the Royal Statistical Society’s Award for Statistical Excellence in Journalism for his Bad Science column in the Guardian.

“Professor Goldacre, who authored the Goldacre Review in 2022 [1] is against Bad Science. But he is staunchly for properly-approved record-linkages which respect patient confidentiality: and his team at OpenSafely have worked, during SARS-CoV-2 and since, to deliver just that. The delivery is a work in progress, as the excellent video about OpenSafely makes clear. Hence, my comment is about elements of enhanced delivery.

“First, as the Royal Statistical Society has argued for since swine-flu in 2009/10, the public – and OpenSafely – need legislation to end the late registration of fact-of-death in England, Wales and Northern Ireland. Only in Scotland, in our dis-United Kingdom, is fact-of-death registered, by law, within 8 days of death having been ascertained. OpenSafely for E&W urgently needs prompt and proper registration of fact-of-death which – for inquest deaths – is delayed by months or years [2].

“Second, since one of five deaths aged 5-44 years in E&W is not registered for at least 6 months [2], ending the late registration of deaths is essential if we are to learn by OpenSafely’s research how to prevent or reduce premature mortality such as deaths due to suicide or addictions.

“Third, analysts – including biostatisticians such as I – need to know in more detail about the random generators that OpenSafely uses for creating its pseudo-data, on which, as a biostatistician, I would develop and test my analysis routines. In particular, real data are often more complex in structure than statistical approximations to them in terms of their distribution (eg lognormal distribution assumed but the actual ln-data are not normally-distributed) or correlation structure. Analysts typically need to check assumptions on real data but may be writing checking-code based on approximations. For the checking-code to be incisive enough, analysts may need to understand in some detail the “random generation” processes.

“Fourthly, enhancements to OpenSafely may lead to important evolution in how some data are recorded by general practitioners. For example, when Gao et al. used record-linkage within Scotland’s safe-haven to analyse the methadone-specific death-rate and other opioid-related deaths in Scotland’s Methadone Client Cohort (2009-2015)[4], we found that the available data were quantity of methadone prescribed (not daily-dose) and reimbursement date (not prescription end-date) because those quantities were the data needed to audit the reimbursement of pharmacists[5]. By contrast, guidelines on safe prescribing of methadone are written in terms of daily-dose!

“Finally, the precautions built-into OpenSafely may mean that patients who registered objection to the use of their GP-data by care.data or the subsequent attempted grab during SARS-CoV-2 (which also failed) may wish to re-consider their objection. How does one do so?
1. https://www.gov.uk/government/publications/better-broader-safer-using-health-data-for-research-and-analysis
2. Bird SM. Editorial: Counting the dead properly and promptly. Journal of the Royal Statistics Society Series A 2013; 176: 815 – 817.
3. Bird SM. End late registration of fact-of-death in England and Wales. Lancet 2015: 385: 1830 – 1831.
4. Bird SM. Everyone counts – so count everyone in England and Wales. Lancet 2016: 387: 25 – 26. Gao L, Robertson JR,
5. Bird SM. Scotland’s 2009-2015 methadone-prescription cohort: quintiles for daily-dose of prescribed methadone and risk of methadone-specific death. British Journal of Clinical Pharmacology 2020; accepted 12 June 2020; https://doi.org/10.1111/bcp.14432.
This was announced at an SMC Press Briefing, and was accompanied by a funding announcement from Wellcome. The embargo lifted at 11:30am on Wednesday 19th February.

Declared interests:

Prof Andrew Morris “Andrew Morris is Director of Health Data Research UK, the national institute for health data science; is Professor of Medicine and Vice Principal at the University of Edinburgh; is President of the Academy of Medical Sciences, has minority (

Prof Sir Rory Collins “I am CEO and PI of UK Biobank, which is a Charitable Company established as a Joint Venture by the MRC and Wellcome. I have been in that role since September 2005, seconded 60%FTE from the University of Oxford where I am Head of the Nuffield Department of Population Health (which, along with other research organisations globally, benefits from using the UK Biobank – without any preferential access – for health-related research that is in the public interest).” 

Prof Sheila Bird “has 30-years of experience of confidential record-linkage; & leads for Royal Statistical Society on need for legislation to end late registration of fact-of-death in E&W and Northern Ireland.”
MIL OSI United Kingdom –
February 20, 2025
MIL-OSI Asia-Pac: Boost to Global Reporting of Clinical Data and Evidence-Based Research in Ayush with WHO 2025 Update to ICD-11

Source: Government of India

Boost to Global Reporting of Clinical Data and Evidence-Based Research in Ayush with WHO 2025 Update to ICD-11

A Significant Step toward Global Integration of Traditional Medicine: Secretary Ayush

Posted On: 19 FEB 2025 5:44PM by PIB Delhi

In a significant milestone for the global recognition of traditional medicine, the World Health Organization (WHO) has announced the 2025 update to the International Classification of Diseases (ICD-11). The update introduces a pioneering new module dedicated to traditional medicine conditions, marking a monumental step in the systematic tracking and global integration of traditional systems of healthcare practices related to Ayurveda, Siddha, and Unani.

This update follows the successful year-long testing and deliberations after the launch of ICD-11 TM-2 (on January 10, 2024, in New Delhi) for Ayurveda, Siddha, and Unani systems of medicine for country implementation testing. It culminates in the deliberations held at the WHO meeting at the National Institute of Health in Malaysia in November 2024. The ICD-11 TM 2 module is now officially released on the ICD-11 Blue Browser of WHO.

This groundbreaking inclusion of traditional medicine in WHO’s internationally recognised health framework ensures that the traditional health systems of Ayurveda, Siddha, and Unani are officially documented and categorized in ICD-11, alongside conventional medical conditions. This elevates their status in global health reporting, research, and policymaking.

Vaidya Rajesh Kotecha, Secretary, Ministry of Ayush, stated, “The release of the ICD-11 update 2025 represents a significant step toward global integration of traditional medicine, specifically Ayurveda, Siddha, and Unani. By allowing dual coding and improving data collection, this update fosters evidence-based policymaking, enhances patient care, and supports the inclusion of traditional medicine in national healthcare strategies, promoting holistic and inclusive healthcare worldwide. This update also marks a pivotal moment for traditional medicine, paving the way for its global integration and empowering evidence-based integrative healthcare policies that embrace holistic well-being.”

“With the new updates, the ICD-11 offers more ease of use, improved interoperability and accuracy, which will benefit national health systems and the people they serve,” said Dr. Robert Jakob, Team Leader, Classifications and Terminologies Unit, WHO.

Ayurveda, Siddha, and Unani: A New Global Platform

Traditional medicine has long been an essential component of healthcare, particularly in Asia, Africa, and other regions where indigenous practices complement modern medical approaches. The introduction of the ‘Traditional Medicine Conditions’ module in ICD-11 is a major step toward acknowledging the vital role of Ayurveda, Siddha, and Unani in the modern healthcare landscape. This move aligns with WHO’s mission to promote universal health coverage and sustainable development goals, recognizing the therapeutic potential of these systems alongside contemporary medical treatments.

This new module allows healthcare providers to use dual coding for both traditional and conventional medicine diagnosis, enabling comprehensive data collection on the use and effectiveness of traditional medicine practices. By formally categorizing these systems, WHO is facilitating a structured way for researchers, policymakers, and healthcare providers to systematically track and assess the impact of traditional medicine in health systems worldwide.

Empowering Global Research and Evidence-Based Policy
Including traditional medicine within ICD-11 offers a host of advantages for global healthcare. By providing standardized terminology and definitions, the module will:

Enhance data collection: Enabling the global tracking of traditional medicine usage, ensuring comprehensive reporting of its application.

Facilitate evidence-based policymaking: Supporting the integration of traditional medicine into national healthcare strategies, ensuring its contribution to global health priorities.

Improve patient care: Allowing healthcare providers to incorporate traditional medicine practices into clinical decision-making for more holistic treatment plans.

Boost global comparability: Providing a framework for researchers to analyze the efficacy of traditional medicine alongside modern medical treatments.

By systematically documenting traditional medicine practices, WHO has created a platform for enhancing both the visibility and credibility of Ayurveda, Siddha, and Unani on the world stage.

A Step Forward for Ayurveda, Siddha, and Unani
Ayurveda, Siddha, and Unani are centuries-old systems of healthcare systems that have served as the cornerstone of healthcare for millions of people in India and beyond. Their formal recognition in ICD-11 offers a powerful opportunity to showcase these systems as integral components of holistic healthcare.

This inclusion enhances the global recognition of these practices and underscores their relevance to universal health coverage and broader health equity efforts. It marks a shift toward inclusivity, with traditional medicine now positioned alongside modern medicine in global health dialogues.

Strengthening Traditional Medicine’s Role in Healthcare
The traditional medicine module in ICD-11 is designed to capture morbidity data, rather than mortality and will help governments and healthcare institutions assess the frequency, quality, and cost-effectiveness of traditional medicine interventions. This evidence-based approach will allow policymakers to make informed decisions about the integration of traditional medicine services into national health frameworks.

As more people turn to traditional medicine alongside modern medical treatments, WHO’s initiative reflects its commitment to ensuring that all forms of healthcare—both modern and traditional—are accounted for in public health strategies. By incorporating traditional medicine into ICD-11, WHO is not only fostering inclusivity but also advancing evidence-based healthcare solutions for diverse populations.

The inclusion of Ayurveda, Siddha, and Unani within ICD-11 marks a turning point in how the world views and integrates traditional healthcare systems. With global research, policy formulation, and healthcare practices increasingly influenced by evidence-based approaches, this historic update is set to reshape the future of traditional medicine, ensuring its continued relevance in modern healthcare systems worldwide.

****

MV/AKS

(Release ID: 2104767) Visitor Counter : 43

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: India and Argentina Strengthen Cooperation in Lithium Exploration and Mining with a Landmark MoU

Source: Government of India

Posted On: 19 FEB 2025 5:37PM by PIB Delhi

Union Minister for Coal and Mines, Shri G. Kishan Reddy, along with Secretary, Ministry of Mines, and senior officials of the Ministry of Mines, held a meeting with H.E. Raúl Alejandro Jalil, Governor of Catamarca, Argentina, in New Delhi today. The discussions focused on expanding cooperation in the mining sector, particularly in lithium exploration and investment opportunities. A key highlight of the meeting was the signing of a Memorandum of Understanding (MoU) between Mineral Exploration and Consultancy Limited (MECL), a PSU under the Ministry of Mines, and the Provincial Government of Catamarca, Argentina, which will pave the way for deeper collaboration in exploration and resource development of critical minerals.

Argentina, known for its vast lithium reserves as part of the ‘Lithium Triangle,’ is a crucial partner for India in securing essential minerals required for electric vehicle batteries and renewable energy storage. The discussions covered ongoing lithium exploration efforts by Khanij Bidesh India Ltd. (KABIL) & Greenko in Catamarca and the possibilities of increasing participation of Indian companies in mining projects of Argentina. Both sides explored avenues for investment, long-term supply agreements, and joint ventures that would help strengthen India’s access to this critical mineral.

Senior officials from both sides engaged in discussions on policy frameworks, regulatory aspects, and sustainable mining practices to ensure a mutually beneficial partnership. Additionally, there was a strong emphasis on knowledge exchange and infrastructure support to enhance India’s engagement in Argentina’s mining sector.

With the signing of the MoU, India and Argentina have reaffirmed their commitment to strengthening ties in the critical minerals domain. This collaboration is expected to accelerate lithium exploration projects, enhance resource security, and create new opportunities for Indian companies in the Latin American mining landscape.

India-Argentina Strengthen Lithium Partnership!

Union Minister for Coal & Mines, Shri @kishanreddybjp, met H.E. Raúl Alejandro Jalil, Governor of Catamarca, Argentina, along with senior officials to discuss lithium exploration, mining opportunities & investment prospects. A key… pic.twitter.com/KbyGpoiA7E

— Ministry of Mines (@MinesMinIndia) February 19, 2025

****

Shuhaib T

(Release ID: 2104761) Visitor Counter : 82

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ10: Colorectal Cancer Screening Programme

Source: Hong Kong Government special administrative region

Following is a question by Dr the Hon David Lam and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (February 19):Question: The Colorectal Cancer Screening Programme (CRCSP) has been implemented since 2016, under which participants will be arranged to undergo a Faecal Immunochemical Test (FIT) screening. According to the information released by the Government in December last year, about 60 per cent of the colorectal cancer patients diagnosed under CRCSP were in earlier stages (i.e. stage I and stage II) of cancer, which was higher than the 40 per cent of those who were not diagnosed under CRCSP. On the other hand, according to the information on the website of the Hong Kong Cancer Registry, among all cancers, the incidence rate of colorectal cancer dropped from the first place in 2016 to the third place in 2022, and the age-standardised mortality rate of colorectal cancer also dropped from about 14.1 to 12.7 per 100 000 population during the same period, indicating that CRCSP is effective in detecting colorectal cancer at an earlier stage and in lowering the mortality rate. However, there are views that only early detection and removal of advanced adenoma can further minimise the incidence rate of colorectal cancer. In recent years, studies have found that although FIT has a high sensitivity and specificity for colorectal cancer, the sensitivity for advanced adenoma ranges from 25 per cent to 34 per cent only, which is lower than that of the newer multi-target stool DNA test (about 42 per cent) and faecal bacterial gene markers test (about 57 per cent). Moreover, the Asian Pacific Association of Gastroenterology and the Asian-Pacific Society for Digestive Endoscopy do not even recommend the use of FIT for screening of colorectal polyps. In this connection, will the Government inform this Council whether it has plans to review CRCSP and consider adopting screening other than FIT for testing by participants; if so, of the relevant progress; if not, the reasons for that?Reply:President, The reply, in consultation with the Department of Health (DH), to the question raised by Dr the Hon David Lam is as follows: The Government attaches great importance to cancer prevention and control. In 2001, it established the Cancer Coordinating Committee (CCC) to formulate strategies for cancer prevention and control and to steer the direction of work covering cancer prevention and screening, surveillance, research and treatment. The CCC is chaired by the Secretary for Health and comprising members who are cancer experts, academics, doctors in public and private sectors as well as public health professionals. The Cancer Expert Working Group on Cancer Prevention and Screening (CEWG) established under the CCC regularly reviews local and international scientific evidence and makes recommendations on cancer prevention and screening applicable to the local setting. From the public health perspective, the Government must carefully assess various factors when formulating a cancer screening programme with reference to evidence-based advice from the relevant experts. These include the local prevalence of the cancer concerned, the accuracy and safety of the relevant screening tools, and the effectiveness and cost-effectiveness in reducing incidence and mortality rates. Meanwhile, a screening programme will lead the public and relevant medical specialties to change the demand and supply model of related medical services. The Government needs to carefully assess the impact of a screening programme on the current healthcare system to avoid a severe imbalance in the use of limited healthcare resources, with a view to ensuring the optimal use of the overall public health and healthcare resources. Regarding screening for colorectal cancer (CRC), the CEWG recommends that average-risk (e.g. without hereditary bowel syndromes), asymptomatic individuals aged 50 to 75 should consider annual or biennial faecal occult blood test; or sigmoidoscopy every five years; or colonoscopy every 10 years. Based on the CEWG recommendations, the Government launched the Colorectal Cancer Screening Programme (the Programme) in 2016, which currently subsidises asymptomatic Hong Kong residents aged between 50 and 75 to undergo screening tests every two years in the private sector. The programme adopts faecal immunochemical test (FIT) as the screening tool. If the FIT result is positive, the participant will be referred to an enrolled colonoscopy specialist to receive a colonoscopy examination subsidised by the Government. If the FIT result is negative, the participant is advised to undergo the screening two years later. As of the end of 2024, the cumulative total number of eligible persons participated in the Programme was approximately 510 000. About 77 000 persons (15 per cent) had positive FIT results, about 40 000 persons (7.7 per cent) were diagnosed to have colorectal adenomas after colonoscopy examination, and about 3 400 persons (0.7 per cent) had CRC. In 2024, there were around 86 000 new participants in the Programme, a record annual high since its launch. Among the CRC cases diagnosed under the Programme, a preliminary analysis of around 2 400 cases has been conducted, and about 56 per cent of these cases were in earlier stages, while less than 40 per cent of CRC cases in the general population (excluding cases from the Programme) belonged to earlier stages. This demonstrates that participation in the Programme allows early detection and treatment of CRC, thereby leading to a more favourable prognosis. Regarding the screening method, the Programme uses FIT as the primary screening tool, which is in line with practices of the CRC screening programmes of most overseas places (such as Singapore, the United Kingdom and Australia). The CEWG has reviewed the scientific evidence on other non-invasive tests for CRC screening such as stool DNA, RNA, “microbial marker” and blood DNA tests in 2023, including the Joint Asian Pacific Association of Gastroenterology (APAGE)–Asian Pacific Society of Digestive Endoscopy (APSDE) clinical practice guidelines on the use of non-invasive biomarkers for diagnosis of colorectal neoplasia published in 2023. Upon CEWG’s review, there was currently insufficient evidence on better effectiveness and cost-effectiveness in reducing CRC incidence and mortality by these newer non-invasive CRC screening tools. The CEWG therefore reaffirmed the recommendations on CRC screening. In general, the cost of FIT ranges from several dozens to several hundred dollars, while the service charge of other newer non-invasive CRC screening tests mentioned above could amount to several thousand dollars. The CEWG shall continue to keep in view further local and overseas scientific evidence and practice related to CRC screening. Apart from participating in regular CRC screening, leading a healthy lifestyle is also important in the prevention of CRC. According to CEWG’s current recommendation on prevention of CRC, the public is advised to adopt healthy lifestyle such as increasing intake of dietary fibre, reducing consumption of red and processed meat, having regular exercise, maintaining a healthy body weight and waist circumference, avoiding drinking alcohol and smoking. The DH has long been promoting a healthy lifestyle as the primary strategy for cancer prevention. The DH makes every effort in stepping up public education related to cancers with a view to raising public awareness of cancer prevention and screening. At the same time, the Primary Healthcare Commission is actively promoting the Life Course Preventive Care Plan via District Health Centres (DHCs)/DHC Expresses and family doctors. Based on the core principles of prevention-oriented and whole-person care, a personalised preventive care plan will be formulated to address the health needs of citizens across different life stages with reference to the latest evidence. Family doctors and primary healthcare professionals will collaborate to provide health advice and education on chronic disease and cancer screening, and healthy lifestyles according to personal factors, such as recommending persons aged 50 or above to undergo CRC screening.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: Clarification on New FASTag Rule

Source: Government of India (2)

Posted On: 19 FEB 2025 5:02PM by PIB Delhi

In reference to the news items carried by some publications regarding change of FASTag Rule declining transactions on FASTags which are not active for more than 60 minutes prior to read time and up to 10 minutes after read time, the National Highways Authority of India (NHAI) clarifies that the Circular No NPCI/2024-25/NETC/004A, dated 28.01.2025 issued by National Payments Corporation of India (NPCI) has no impact on FASTag customer experience.

The Circular has been issued by NPCI to facilitate resolution of disputes between Acquirer Bank and Issuer Bank on FASTag status while vehicle crosses Toll Plazas. The Circular also aims to ensure that the FASTag transactions are created within reasonable time of vehicle passing a Toll Plaza so that customers are not harassed by late transactions.

All National Highway Toll Plazas operate on ICD 2.5 protocol which gives real-time tag status, hence the FASTag customers can recharge any time before crossing the Toll Plaza.

Some Toll plazas on State Highways are still on ICD 2.4 protocol which needs regular updates of Tag status. It is being planned to shift all such Toll plazas to ICD 2.5 protocol, shortly.

The FASTag customers are encouraged to link their FASTag wallet to UPI/Current/Saving Accounts under auto-recharge setting to eliminate the need for manual recharges. Customers can continue to recharge their FASTag any time before reaching the toll, using a variety of payment channels such as UPI, net banking, and more.

***

G.D.Hallikeri / Henry

(Release ID: 2104728) Visitor Counter : 35

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: Discussion held on “space oil drug” and cross-sectoral drug treatment and rehabilitation services between ND and healthcare professionals

Source: Hong Kong Government special administrative region

Discussion held on “space oil drug” and cross-sectoral drug treatment and rehabilitation services between ND and healthcare professionals
Discussion held on “space oil drug” and cross-sectoral drug treatment and rehabilitation services between ND and healthcare professionals
******************************************************************************************

Accompanied by the Cluster Chief Executive of New Territories East of the Hospital Authority (HA), Dr Chung Kin-lai, and the Hospital Chief Executive of Tai Po Hospital of the HA, Dr Sin Ngai-chuen, representatives of the Narcotics Division (ND) of the Security Bureau visited the designated ward for substance abusers at Tai Po Hospital yesterday (February 18) to learn about the support provided to drug abusers and to discuss with frontline professionals combating “space oil drug” and treatment for the relevant drug abusers. Hong Kong has long adopted a multi-modality approach in providing drug treatment and rehabilitation (T&R) services to meet the different needs of drug abusers from different backgrounds. The HA plays a crucial role in this regard. During the meeting with the medical and allied health personnel of Tai Po Hospital, the Commissioner for Narcotics, Mr Kesson Lee, expressed gratitude for their tireless support for patients. He said, “Collaboration is an important approach for effective drug T&R services. The ND encourages hospitals to strengthen collaboration with different sectors on various fronts. For example, the cross-sectoral and cross-disciplinary collaborative model in Tai Po Hospital can effectively support drug-abusing patients, address their diverse backgrounds and T&R needs, and ultimately help them quit drugs.” Regarding the prevailing problem of “space oil drug”, the medical and allied health professionals at Tai Po Hospital shared their research findings, observations, and treatment approaches for relevant patients. They noted a recent rise in the number of patients seeking medical services or even hospitalisation due to “space oil drug” abuse and expressed concerns that there was no shortage of young people among those patients. They also expressed worries about e-cigarettes becoming an apparatus for drug taking. Mr Lee indicated that the Government has launched targeted anti-“space oil drug” publicity in response to the situation and upon the listing of etomidate, the main active ingredient of “space oil drug”, and its three analogues (metomidate, propoxate and isopropoxate) as dangerous drugs on February 14, 2025. In addition to education and publicity, T&R is also a component in addressing the drug problem. He pointed out that the Government will continue to encourage drug abusers to quit drugs on their own volition and expressed hope that abusers of “space oil drug” would seek early assistance from service units such as Substance Abuse Clinics of the HA and Counselling Centres for Psychotropic Substance Abusers in the community. All participants in the meeting agreed that “space oil drug” could cause harm to physical and mental health, and young people are no exception. For issues related to “space oil drug” or other drug problems, the public can contact professional social workers for information or assistance through WhatsApp or WeChat at 98 186 186, or call the 24-hour hotline at 186 186.

Ends/Wednesday, February 19, 2025Issued at HKT 19:15

NNNN

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: Working Group for Enhancing Personalised Point-to-Point Transport Services under TAC convenes second meeting

Source: Hong Kong Government special administrative region

Working Group for Enhancing Personalised Point-to-Point Transport Services under TAC convenes second meeting
Working Group for Enhancing Personalised Point-to-Point Transport Services under TAC convenes second meeting
******************************************************************************************

The following is issued on behalf of the Transport Advisory Committee: The Working Group for Enhancing Personalised Point-to-Point Transport Services under the Transport Advisory Committee (TAC) convened its second meeting today (February 19). The Working Group met with stakeholders including representatives of taxi trades and online car hailing platforms, and listened to their views and suggestions on the regulation of online car hailing platforms. After meeting with the trades, the Working Group was also briefed on the Transport Department (TD)’s work progress on the study to enhance personalised point-to-point transport services. The Working Group will continue to advise on the study on personalised point-to-point transport services being conducted by the TD. After considering the study outcome by the TD and views of the stakeholders, the Working Group will focus on the proposed arrangements of regulating online car hailing platforms and prepare a submission for the Government’s consideration. The TAC and the Working Group Chairman, Professor Stephen Cheung, said, “Today’s meeting with various stakeholders was held successfully. Having listened to their views in detail, the Working Group will consolidate and carefully consider the views received, and will submit to the Government as soon as possible a report on proposals of regulating online car hailing platforms to facilitate the healthy and sustainable development of personalised point-to-point transport services in the long run.” Set up by the TAC in July 2024, the Working Group comprises a number of TAC members, representatives from relevant organisations/departments, namely the Insurance Authority and Tourism Commission, as well as representatives from the Transport and Logistics Bureau and the TD.

Ends/Wednesday, February 19, 2025Issued at HKT 18:40

NNNN

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: Suspicious website related to DBS Bank (Hong Kong) Limited

Source: Hong Kong Government special administrative region

Suspicious website related to DBS Bank (Hong Kong) Limited
Suspicious website related to DBS Bank (Hong Kong) Limited
**********************************************************

The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by DBS Bank (Hong Kong) Limited relating to a suspicious website, which has been reported to the HKMA. A hyperlink to the press release is available on the HKMA website. The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks). Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the website concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.

Ends/Wednesday, February 19, 2025Issued at HKT 17:50

NNNN

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ6: Administration of estate of late Mrs Nina Wang

Source: Hong Kong Government special administrative region

LCQ6: Administration of estate of late Mrs Nina Wang
LCQ6: Administration of estate of late Mrs Nina Wang
****************************************************

Following is a question by the Hon Judy Chan and a reply by the Secretary for Justice, Mr Paul Lam, SC, in the Legislative Council today (February 19): Question: The Department of Justice issued a statement last month, formally appointing Nina Wang Charity Management Limited as the trustee of the charitable trust of Mrs Wang’s estate. There are views that as it has almost been 10 years since the Court of Final Appeal handed down its judgment on the estate of over $140 billion, coupled with the high management fees of the charitable trust while yielding no social benefits, the trustee should release the estate for charitable purposes as soon as possible, particularly when the Government is facing a deficit and needs the support of the business sector to promote charitable causes. In this connection, will the Government inform this Council: (1) whether it knows the relevant expenses incurred in dealing with the management, legal proceedings, etc, of the aforesaid charitable trust since the Court of Final Appeal handed down its judgment in 2015; (2) when the authorities plan to announce the membership of the trustee’s board of governors, the scheme of administration for the estate, and other relevant information; and (3) how it supports the trustee in fulfilling its responsibilities, including assisting the trustee in manpower deployment and formulation of relevant budgets, so as to facilitate the trustee’s vetting and approval of charity projects, conduct of fundraising, and preparation for setting up a “fund and a Chinese prize of worldwide significance similar to that of the Nobel Prize” in accordance with Mrs Wang’s testamentary wishes? Reply: President, In relation to the Estate, the Secretary for Justice (SJ) has been actively following up on the blueprint of the scheme for administration of the Estate (Scheme) as laid down in the judgment of the Court of Final Appeal dated May 18, 2015, as well as the subsequent legal proceedings, court orders and directions in the legal capacity of the protector of charities. On May 16, 2024, the court approved the Scheme submitted by the SJ. The SJ then made an application to the court to appoint Nina Wang Charity Management Limited as the Trustee of the charitable trust under Mrs Wang’s Estate, with the court’s approval granted on November 21, 2024. The SJ has also appointed three independent individuals, namely Mrs Rita Fan Hsu Lai-tai, Mr Joseph Yam Chi-kwong and Mr Cheng Yan-kee, as members of the supervisory managing organisation (SMO) responsible for supervising the operation of the Trustee. In relation to the Hon Judy Chan’s questions, I reply as follows: (1) The expenses incurred by the interim administrators in managing the Estate have been prescribed by the Court in the Appointment Order and are subject to the Court’s scrutiny. However, according to the court’s order, the relevant terms of the order are subject to confidentiality and cannot be disclosed without the court’s approval. The SJ in the capacity of the protector of charities will continue to follow up as appropriate so as to ensure that the interim administrators’ expenses are maintained at a reasonable level. Regarding the expenses incurred in the related legal proceedings, we are unable to provide such information at this stage as the relevant legal proceedings are still ongoing, and the legal costs will have to be eventually taxed by the court. (2) As to when information regarding the composition of the Trustee’s board of governors, details of the Scheme and other information will be announced, according to the Scheme approved by the court, the Trustee will pursuant to the terms of the Scheme and its relevant Articles of Association disclose related information at a suitable time later. (3) The Trustee’s main duty is to implement the Court’s judgments and the relevant procedures under the Scheme. In view of the significant public interest involved, during the interim period the Department of Justice (DoJ) has been providing suitable support and assistance in respect of the preliminary work, including assisting the Trustee in forming its board of governors, so as to facilitate the Trustee to properly and expeditiously make use of the Estate for charitable purposes pursuant to the Scheme and the late Mrs Nina Wang’s wishes. Upon formal commencement of the Trustee’s operations, the same will be supervised, as I have mentioned earlier, by the SMO comprising three persons as provided for under the Scheme. The DoJ generally would not be directly involved with its operations unless necessary, but the SJ will, of course, in accordance with general legal principles continue to keep the matter in view in the capacity of the protector of charities, and exercise legal power to take appropriate actions when necessary. The DoJ firmly believes that once the Trustee’s board of governors is established and commences its operations, the Trustee will do its utmost in administering the charitable trust under the supervision of the SMO, including considering to conduct independent auditing of the Trust assets, launching charitable projects, carrying out fundraising and establishing a “fund and a Chinese prize of worldwide significance similar to that of the Nobel Prize”, to fulfil Mrs Wang’s testamentary wishes and bring benefits to the country, including different sectors of Hong Kong society. Thank you, President.

Ends/Wednesday, February 19, 2025Issued at HKT 17:38

NNNN

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: India is no longer just a follower; it is now leading the way in multiple fields: Dr. Jitendra Singh
Source: Government of India (2)

Posted On: 19 FEB 2025 3:04PM by PIB Delhi
- India’s Space Sector Soars: From Chandrayaan-3 to Bharatiya Antariksh Station, Nation Emerges as a Global Leader in Space Exploration
- India Leads Global Healthcare Innovation with DNA-Based COVID-19 Vaccine and First Herpesvirus Vaccine for Cervical Cancer
- India’s Bioeconomy Booms: From $10 Billion to $140 Billion, Poised to Reach $250 Billion with Thriving Biotech Startups
- India Pioneers Space Biology: Advancing Research in Space Medicine and Sustainable Life Beyond Earth
- India’s Nuclear Energy Vision: 100 GW by 2047 to Drive Sustainability and Global Climate Leadership
- India Rises as a Global Research Powerhouse, Poised to Lead the World in Scientific Publications by 2030
- India’s Space Economy Poised for 10X Growth, Strengthening Global Leadership in Science and Bio-Manufacturing
Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh has asserted that India is no longer just a follower but is now setting global benchmarks, offering leadership and pioneering innovations across sectors. He highlighted the remarkable advancements India has made in recent years, in the fields of space, biotechnology, and nuclear energy etc positioning itself as a key player on the world stage.

Dr. Jitendra Singh pointed out that India’s space sector has witnessed an unprecedented transformation, with a surge in ambitious missions and international collaborations. The Space Docking Experiment (SpaDeX) is a testament to India’s technological progress, paving the way for future space missions, including Gaganyaan, Chandrayaan-4, and the Bharatiya Antariksh Station, India’s upcoming international space station.

India has also emerged as a preferred destination for satellite launches, earning global credibility. The nation has successfully launched 433 foreign satellites, of which 396 were deployed in the last decade alone, generating $157 million and €260 million in revenue from 2014-2023. The historic success of Chandrayaan-3, which made India the first country to land near the Moon’s south pole, has positioned ISRO at the forefront of lunar exploration. The world’s leading space agencies, including NASA, are now awaiting India’s findings from the Moon’s southern pole, a milestone that underscores the nation’s rising dominance in space research.

The Minister also highlighted India’s pioneering role in biotechnology and bioeconomy. India became the first country to develop a DNA-based COVID-19 vaccine, demonstrating its leadership in vaccine research and development. Furthermore, India has introduced the first herpesvirus vaccine for cervical cancer, reinforcing its position as a leader in preventive healthcare.

India’s bioeconomy has surged from $10 billion in 2014 to nearly $140 billion today, with projections to reach $250 billion in the coming years. The number of biotech startups has skyrocketed from just 50 in 2014 to nearly 9,000 today, making India a global hub for biotech innovation. In bio-manufacturing, India now ranks third in the Asia-Pacific region and 12th globally, with its influence expanding rapidly.

India has also taken a bold step into space biology, laying the foundation for human survival beyond Earth. ISRO and the Department of Biotechnology have signed an MoU to advance space biotechnology research, focusing on growing plants in space to sustain long-term space missions. The study of space medicine and human physiology in extraterrestrial environments is becoming a critical area of research, and India is now setting global standards instead of just following them.

India’s nuclear energy program, once met with scepticism, is now recognized for its peaceful and sustainable ambitions. The country has set an ambitious target of 100 gigawatts of nuclear energy by 2047, aiming to reduce carbon emissions by 50%, a commitment that is influencing global climate strategies. The world has now acknowledged India’s nuclear policy, which was envisioned by Homi Bhabha for peaceful purposes, as a model for responsible energy development.

India’s scientific output is gaining global recognition, with the country now ranked fourth worldwide in scientific publications. Projections suggest that by 2030, India could surpass the United States to become the world’s top-ranked country in scientific research.

India’s space economy is set to grow 5 to 10 times in the next decade, further solidifying its leadership. The nation’s rapid economic ascent is evident in its global rankings, including its 12th position in bio-manufacturing and fourth place in scientific research publications.

Dr. Jitendra Singh concluded by emphasizing that India’s rise is no longer just about catching up but about setting the agenda for the world. “The clock has turned 360 degrees. Earlier, we learned from others; now, the world is looking up to us. The traffic is both ways,” he remarked.

*****

NKR/PSM

(Release ID: 2104674) Visitor Counter : 20

MIL OSI Asia Pacific News –
February 20, 2025
MIL-OSI Asia-Pac: Appointments to Advisory Committee on the Northern Metropolis and its four sub-committees

Source: Hong Kong Government special administrative region

     The Government announced today (February 19) the appointment of non-official members to the Advisory Committee on the Northern Metropolis (ACNM) and its four sub-committees for a new term of two years, from February 10, 2025, to February 9, 2027.

     The membership lists of the ACNM and its four sub-committees for the new term are at the Annex. The newly appointed members of the ACNM include Ms Cheng Jie, Mr Lee Shing-put, Mr Sunny Lee Wai-kwong, Mr Timothy Ma Kam-wah and Mr Simon Ng Ka-wing, who will also serve on the respective sub-committees under the ACNM. Additionally, Professor Karl Tsim Wah-keung is appointed as a new co-opted member of the Sub-committee on Development of Industries.

     The ACNM is chaired by the Financial Secretary, Mr Paul Chan. The four sub-committees under the ACNM are the Subâ€‘committee on Planning, Land and Conservation; the Sub-committee on Development of Industries; the Sub-committee on Transport and Other Infrastructure; and the Sub-committee on Promotion and Public Engagement. The sub-committees aim to conduct in-depth discussions on relevant areas and provide recommendations.

     Mr Chan said, “The Northern Metropolis is a crucial component of Hong Kong’s social and economic development. It serves as the carrier of a new engine of economic growth, playing a pivotal role in advancing innovation and technology, deepening integration with the Guangdong-Hong Kong-Macao Greater Bay Area, and dovetailing with the overall national development strategy. Also, the Northern Metropolis creates high-quality career opportunities and living environments for the public. The development of the Northern Metropolis has been advancing on all fronts at full speed. The valuable insights provided by the ACNM members are instrumental in our work.” He expressed gratitude to members of the last term for their contributions. He also looks forward to working closely with members of the new term to continue promoting the development of the Northern Metropolis.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ5: Complaints handled by Medical Council of Hong Kong

Source: Hong Kong Government special administrative region

Following is a question by the Hon Chan Hoi-yan and a reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (February 19):

Question:

This Council passed in 2018 the amendments to the Medical Registration Ordinance, with the aim of improving the complaint investigation and disciplinary inquiry mechanism of the Medical Council of Hong Kong (MCHK) to address the problem of a backlog of cases. In this connection, will the Government inform this Council if it knows:

(1) the average time taken by MCHK to handle a complaint case at present, and the average processing times at the consideration stage by Preliminary Investigation Committee and the inquiry stage respectively;

(2) the total number of complaint cases received by MCHK in each of the past five years and, among them, the respective numbers of cases in which inquiries were held and the complaints were determined to be substantiated, with a breakdown by the type of medical practitioners involved (i.e. private medical practitioners, medical practitioners employed by the Hospital Authority, as well as medical practitioners of the Department of Health); and

(3) among the complaint cases handled by MCHK in each of the past five years, the respective numbers of cases in which the handling time was less than two years, two to four years, five to seven years, and eight years or more; among these cases, the shortest, longest and median time taken from the lodging of the complaint by the complainant to the completion of all procedures, and the main reasons for cases taking a longer time to handle (i.e. more than two years)?

Reply:

President,

Healthcare professions in Hong Kong observe the principle of professional autonomy. Their statutory regulatory bodies were established by legislations. They are responsible for the registration of professionals, and maintaining and uplifting relevant professional standard and conduct. These regulatory bodies must be accountable to the public in discharging their duties, ensuring that Hong Kong can maintain healthcare professional standards and safeguarding the broader interests of the community.

The Medical Council of Hong Kong (MCHK) is a statutory body established under the Medical Registration Ordinance (MRO) with the objectives of developing and facilitating medical professional competencies and standards, safeguarding ethical conduct and protecting patients. The MCHK is empowered by the MRO to regulate the medical profession, including handling the registration of medical practitioners, organising Licensing Examinations, formulating codes and guidelines for the profession, and conducting disciplinary inquiries against complaints made by members of the public in respect of professional misconduct of medical practitioners.

Handling complaint cases is an important function of the MCHK. The mechanism of complaint investigation and disciplinary inquiries must be fair, impartial, transparent and efficient, in order to ensure healthcare professional standards and patients’ safety, and facilitate mutual trust between patients and healthcare professionals. The Government’s role is to ensure that the operation models of regulatory bodies keep up with time and the system work smoothly to meet the changing needs of society. To that end, the Government keeps the MRO under regular review to enable the MCHK to better carry out its various statutory functions, including the function of handling complaints, and propose amendments to the MRO to enhance the efficiency of the complaint-handling mechanism where necessary.

With regard to the complaint-handling mechanism which was unable to operate effectively due to statutory limitations in the MRO, leading to a backlog of complaint cases, the Government proposed to amend the MRO in 2017 to enhance the efficiency and flexibility of the mechanism. Newly introduced measures include setting up inquiry panels under the MCHK to conduct inquiries, increasing participation of lay persons in inquiry proceedings, and increasing the number of assessors. The legislative amendment was passed by the Legislative Council in 2018, enhancing the efficiency of the MCHK in handling complaints. After the legislative amendment, the number of inquiry cases heard per year increased from an average of 25 before 2018 to an average of 48 in the past five years, marking an increase of 90 per cent. The average time for processing a disciplinary inquiry case also dropped from around six years to an average of 3.5 years.

At present, the establishment of the MCHK Secretariat comprises 30 civil service posts, and contract staff are also engaged. The Government will review the services provided by the Secretariat for the MCHK from time to time, and increase its operational efficiency through various measures, such as increasing the use of information technology and organisational structure to better support the MCHK in discharging its statutory duties. The Government will also consider suitably increasing manpower and other resources for the Secretariat where necessary.

In response to the Hon Chan Hoi-yan’s question, after consulting the MCHK Secretariat, the consolidated reply is as follows:

In the past five years, the number of complaint cases the MCHK received per year ranged from around 500 to over 3 000. The number of cases requiring disciplinary inquiries and involving doctors in private practice and in the public sector, and the number of substantiated cases, are set out at Annex 1.

The MCHK had concluded over 8 700 complaint cases in the past five years. The average time taken since receipt of complaints till conclusion of cases is 27 months. In 98 per cent of these cases, disciplinary procedures were completed within four years after receiving the complaint. Other cases that required longer processing time were usually more complex in nature, requiring time to examine relevant medical record(s), seek medical experts’ report(s), and consult legal advice, etc. Among these complaint cases, the Preliminary Investigation Committees (PICs) dismissed around 7 000 cases for being frivolous or complainant not providing further information, decided that no inquiry by an inquiry panel was to be held in around 1 500 cases, and referred three cases involving the physical and mental condition of the medical practitioner to the Health Committee for consideration. Disciplinary inquiries were required in only 221 cases, i.e. less than 3 per cent. Those some 8 700 concluded complaint cases, broken down by processing time, are set out at Annex 2.

President, the Government will continue to strive for reforms to enhance healthcare quality and efficiency, including inviting major institutions in the Hong Kong healthcare sector to establish the Institute for Medical Advancement and Clinical Excellence last December as a professional platform to develop evidence-based clinical protocols and explore the feasibility of devising service quality and efficiency standards for healthcare services with the plan to consult the sector within this year.

Regulatory bodies of healthcare professions must also undergo constant reform to meet the expectation of the community. The Government will keep the operation of the MCHK under ongoing review, and is happy to listen to the views of different sectors.

Thank you, President.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: TRIFED signs MoUs with Meesho, IFCA & Mahatma Gandhi Institute of Rural Industrialisation

Source: Government of India

TRIFED signs MoUs with Meesho, IFCA & Mahatma Gandhi Institute of Rural Industrialisation

The collaboration to promote livelihood generation of tribal community

Posted On: 19 FEB 2025 1:29PM by PIB Delhi

In a significant move to transcend from B2C to B2B approach for tribal communities, Tribal Cooperative Marketing Development Federation of India Ltd (TRIFED) has entered into a strategic partnership with Meesho, Indian Federation of Culinary Associations (IFCA) and Mahatma Gandhi Institute of Rural Industrialization (MGIRI) to facilitate tribal businesses. Memoranda of Understanding (MoU) were signed on 18^th February during the ongoing flagship event ‘Aadi Mahotsav’, held at Major Dhyan Chand National Stadium in the National Capital being from 16 to 24 February 2025, marking a pivotal step in ensuring the implementation of the B2B approach and augmentation of the tribal product market.

The principal objective of the MoU with Meesho is to facilitate the onboarding of tribal products onto their social commerce platform, accompanied by training and capacity-building initiatives for tribal suppliers. Whereas the Indian Federation of Culinary Associations (IFCA) will assist in establishing long-term collaborations with culinary professionals and hotel chains through their technology platform. Furthermore, the Mahatma Gandhi Institute of Rural Industrialization (MGIRI) has partnered with the Tribal Cooperative Marketing Development Federation of India (TRIFED) as the knowledge partner to conduct training and capacity building for artisans.

These MoUs were exchanged by General Managers of TRIFED with Ms Prachi Bhuchar, Head of Public Policy & Government Affairs, Meesho, Chef Manjit Gill, IFCA and Dr. Ashutosh A. Murkute, Director, MGIRI respectively in the presence of Shri Ashish Chatterjee, Managing Director, TRIFED on various aspects leading to social economic development of tribal communities across the country. With this and several other ventures, TRIFED continues further with its efforts to enable the economic welfare of these communities and bring them closer towards mainstream development.

President of India Smt Droupadi Murmu had inaugurated the festival on February 16, 2025 in the august presence of Shri Jual Oram, Union Minister for Tribal Affairs; Shri Durga Das Uikey, MoS Tribal Affairs; Ms. Bansuri Swaraj, Member of Parliament, New Delhi.

About TRIFED: TRIFED is an organization under the Ministry of Tribal Affairs, Government of India, dedicated to the socio-economic development of tribal communities through the marketing development of tribal products. TRIFED has been organising “Aadi Mahotsav – National Tribal Festival” to provide direct market access to the tribal master-craftsmen and women in large metros and State capitals. The theme of the festival is “A Celebration of the Spirit of Entrepreneurship, Tribal Craft, Culture, Cuisine and Commerce”, which represents the basic ethos of tribal life.

About Meesho: Meesho is an Indian e-commerce platform that primarily focuses on social commerce. It allows individuals and small businesses to sell products online through their portal and often through social media channels like WhatsApp, Facebook, and Instagram. The platform provides a wide range of products including clothing, accessories, home goods, and more.

About IFCA: The Indian Federation of Culinary Associations (IFCA) is a professional organization dedicated to the development and promotion of the culinary arts in India. It serves as a national body that represents the interests of chefs and culinary professionals across the country. The IFCA works to advance the culinary profession through education, networking, and collaboration among chefs, culinary educators, and the hospitality industry.

About MGIRI:

*The Mahatma Gandhi Institute of Rural Industrialization (MGIRI) is an institution in India dedicated to promoting rural industrialization. It was established to carry forward the vision of Mahatma Gandhi regarding sustainable rural development and self-reliance through the promotion of small-scale and cottage industries.

******

Pawan Singh Faujdar/Divyanshu Kumar

(Release ID: 2104628) Visitor Counter : 10

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ9: Burglary crimes

Source: Hong Kong Government special administrative region

Following is a question by the Hon Chan Yuet-ming and a written reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (February 19):Question: Some members of the public have relayed that there has been an increase in the number of burglary crimes targeting low-density residential properties and shops in rural areas and suburbs, and the situation is even worse near Chinese New Year. In this connection, will the Government inform this Council: (1) of the numbers and detection rates of burglary crimes in each of the past five years, with a tabulated breakdown by the 18 districts in Hong Kong; the numbers of persons convicted of such crimes and, among them, the respective numbers of those who were minors and non-Hong Kong residents; (2) of the details of both the publicity activities on the prevention of burglary and joint operations against burglary crimes conducted by the Hong Kong Police Force in the whole year of 2024, as well as the effectiveness of such efforts; (3) of the details of the publicity activities conducted by the Fight Crime Committee and District Fight Crime Committees on the prevention of burglary in the whole year of 2024; and (4) whether the Government will review the existing mechanism on the prevention of burglary crimes, including whether it will consider installing smart lampposts fitted with cameras and subsidising village offices to install closed-circuit television monitoring systems or other appropriate alarm devices at major entrances and exits of villages so as to deter law-breakers? Reply: President, The Police pay close attention to burglary cases which occurred in different locations and premises. In addition to actively taking measures against such crimes, the Police have been providing home security and anti-burglary advice to the public through various channels. After consultation with the Hong Kong Police Force and the Home Affairs Department, our consolidated reply to the Member’s question is set out below: (1) The number of burglary cases and detection rates by Police Districts in the past five years (from 2020 to 2024) are set out in Annex I. Regarding the number of persons convicted, the number of persons convicted of burglary-related offences (i.e. burglary under section 11 and aggravated burglary under section 12 of the Theft Ordinance (Cap. 210)) and, among them, the number of those who were minors or not holders of Hong Kong Identity Cards at the time of their first appearance, from 2020 to the third quarter of 2024, are set out in Annex II. (2) The Police adopt a multi-pronged approach to enhance the prevention and combating of burglary cases. In terms of enforcement, the Police have stepped up intelligence gathering and adopted an intelligence-led approach. They have increased high-profile patrols and stop-and-search operations in high-risk areas, such as village houses. Additionally, drones and helicopters from the Government Flying Service are deployed for nighttime aerial patrols and the pursuit of burglars. Roadblocks are also set up at different times and locations to stop and search suspicious vehicles or individuals, thereby enhancing deterrence. On the publicity front, to enhance public awareness, the Police have launched a one-stop platform, SafeCity.HK, to provide the public with crime prevention tips, including information on burglary prevention. The Police also conduct publicity through various channels, such as social media platforms, press conferences, OffBeat 360 and Offbeat 120s, to share with the public ways to enhance home security and encourage them to report to the Police any suspicious persons or behavior. The Police also organise regular seminars for different sectors (for example, members of the property management and security sectors, the retail industry, and so on) and distribute anti-burglary pamphlets to the public in conjunction with District Councils, Rural Committees, Area Committees and property management companies to enhance anti-burglary awareness from different perspectives. As a result of the Police’s vigorous efforts in combating burglary, the situation of burglary cases has improved significantly. In 2024, 1 220 burglary cases were reported, representing a decrease of 134 cases or 9.9 per cent compared to 2023, and the amount of loss was also reduced by 48 million Hong Kong Dollars or 25.5 per cent. The Police will continue with its related work, such as stepping up publicity during high-risk periods, such as the Chinese New Year and long holiday periods (e.g. using the Anti-crime Promotional Truck to visit different districts across the territory) to educate the public on the importance of and ways to prevent theft. (3) In response to burglary cases, the Fight Crime Committee (FCC) has adopted Beware of Burglary and Theft as the theme of one of its anti-crime publicity campaigns in 2024-25. The campaign will be launched through various media, including online advertisements and distribution of publicity materials such as door and window alarms, to remind members of the public to step up their home security to prevent burglary and theft. As for the District Fight Crime Committees (DFCCs), various DFCCs organised different publicity campaigns under the theme of Beware of Burglary and Theft in 2024, such as carnivals, seminars and design competitions; distribution of promotional souvenirs, leaflets, banners, etc; and placing advertisements on the backs of minibus chairs and on the lightboxes of bus shelters. The aim is to integrate messages about preventing burglary and theft into various aspects of citizens’ daily lives at the district level. (4) To further enhance law and order and combat crime in a comprehensive manner, the Police Force has started installing closed-circuit televisions (CCTVs) in various districts (including rural areas) in Hong Kong since April 2024. The installation points are located at traditional lampposts, smart lampposts and government buildings. 615 sets of cameras have been installed by the end of last year, with the first phase of installation to be completed within 2025 with a total of 2 000 sets of cameras. As at the end of 2024, the system has assisted the Police in detecting 122 cases, including serious crimes such as murder, robbery and burglary, with 202 arrests. Of the 16 burglary cases detected with the assistance of CCTV, half of them (eight cases) were solved within one day, demonstrating that CCTV has not only made investigations more effective, but has also greatly enhanced the efficiency of crime detection. Apart from assisting in crime detection, CCTV also has a deterrent effect on criminal behavior. In order to understand the relevant data, the Police have analysed the number of street crime cases for various types of crimes and found that they have dropped after the installation of CCTV. This shows that the scheme has brought about a very positive effect on crime prevention and elimination. The Police will progressively install CCTVs according to the crime rate or pedestrian flow of individual districts and locations (including rural areas), with a view to maximising the effectiveness of CCTVs in preventing and combating crime. In addition, the Police, in conjunction with the DFCCs, have also encouraged and assisted in the installation of CCTV systems in old low-security buildings. Police Districts also distribute door and window alarms to rural residents, so as to enhance the security level of residential premises.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ22: Planning for former Choi Hung Road Market

Source: Hong Kong Government special administrative region

     Following is a question by the Hon Yang Wing-kit and a written reply by the Secretary for Development, Ms Bernadette Linn, in the Legislative Council today (February 19):

Question:

     It has been learnt that the Government closed the Choi Hung Road Market in Wong Tai Sin in 2022 to free up the site for other long-term development purposes, but so far the site has not been planned for any use. In this connection, will the Government inform this Council:

(1) whether it has considered revitalising the former Choi Hung Road Market; if so, of the timetable and roadmap;

(2) whether it will consider opening up the former Choi Hung Road Market to youth groups or non-profit-making district groups in the short term for the creation of music and art spaces as well as cultural and creative markets, so as to optimise the use of idle spaces; if so, of the details; if not, the reasons for that; and

(3) whether it will, in the long run, consider converting the former Choi Hung Road Market for the provision of dental clinics as well as leisure and cultural services facilities (e.g. libraries and study rooms) to cater for the needs of local residents; if so, of the details; if not, the reasons for that?

Reply:

President,

     With regard to the overall planning of the Choi Hung Road (CHR) Playground, the CHR Sports Centre and the former CHR Market site, the Energizing Kowloon East Office (the Office) of the Development Bureau commenced the study and planning work in collaboration with relevant government departments including the Leisure and Cultural Services Department, the Planning Department and the Architectural Services Department (ArchSD). The objective is to improve the recreational and sports facilities and integrate other uses under the principle of “single site, multiple use” to make better use of land resources and meet societal needs at the same time. After consultation with the relevant policy bureaux and departments, the reply to the questions is as follows:

(1) and (3) The CHR Playground, the CHR Sports Centre and the former CHR Market are located in San Po Kong with a total site area of about 4.5 hectares. Taking into account the actual district situation, it is recommended to preserve the playground open space area as far as possible with enhancement to increase its attractiveness and inclusiveness. To gather creative design and ideas, the Office and the ArchSD co-organised the Design Competition for Redevelopment of Open Space at CHR Playground and would consider adopting some of the design ideas and concepts of the winning entry for the design of the redevelopment project. As for the CHR Sports Centre and the former market part, taking into account the advice from relevant policy bureaux and departments, it is proposed to develop a new integrated government complex under the principle of “single site, multiple use” to reprovision and upgrade the existing recreational and sports facilities and to introduce some new services. The Office consulted the Wong Tai Sin District Council and other members of the local community on the preliminary proposals of the redevelopment project in February 2023 and incorporated the relevant comments. In terms of recreational and sports facilities, under the latest design, the sports centre facilities which will be reprovisioned and upgraded include an indoor multi-purpose arena, badminton courts, a multi-function activity room, a children’s play room, a table tennis room, a dance room and a fitness room, and a new indoor futsal-cum-handball court. The integrated complex will also provide space for welfare facilities (including elderly and child care centres) and set up the Wong Tai Sin District Health Centre as a hub to provide and co-ordinate primary healthcare services of the district. A public vehicle park will be provided in the redevelopment project and the existing San Po Kong Public Library will also be reprovisioned in the integrated complex so as to upgrade the services and facilities of the library. The relevant preliminary studies for the project have been completed. The Office is liaising with concerned departments on details of commencing the relevant town planning procedures to prepare for the project implementation.

(2) The CHR Playground and the CHR Sports Centre are still in operation while the CHR Market was closed in March 2022. To optimise the use of resources, following the established procedures, the Food and Environmental Hygiene Department (FEHD) has identified appropriate alternative user departments to use the premises. Currently, part of the premises is separately used by the FEHD for temporary storage purpose and by the Transport Department for temporary storage of seized bicycles that were illegal parked or abandoned.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ12: Chronic Disease Co-Care Pilot Scheme

Source: Hong Kong Government special administrative region

Following is a question by the Hon Chan Pui-leung and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (February 19):

Question:

The Government has launched the three-year Chronic Disease Co-Care Pilot Scheme (the Scheme) from November 13 2023 to provide subsidised diabetes mellitus (DM) and hypertension (HT) screening services in the private healthcare sector to Hong Kong residents aged 45 or above with no known medical history of DM or HT. In this connection, will the Government inform this Council:

(1) of the following information on the participants since the launch of the Scheme: (i) the number of participants, as well as the distribution of their gender, age and respective District Health Centres (DHCs) and DHC Expresses and, among them, the respective numbers of participants who (ii) have completed DM and HT screening, (iii) have been diagnosed with prediabetes, DM or HT, and have entered the treatment stage, and (iv) have been arranged by their family doctors to receive a one-off internal medicine specialist consultation at the Hospital Authority through the bi-directional referral mechanism;

(2) of the following information on the participating family doctors and family doctors’ service points (service points) since the launch of the Scheme: (i) the number of family doctors, (ii) the number and geographical distribution of service points, and (iii) the number of family doctors and service points that can pair participants with a family doctor at the clinic and are open for direct enrolment to the Scheme;

(3) as it is learnt that under the Scheme, the Government has recommended that family doctors should only charge participants a co-payment fee of $150 for each consultation during the treatment stage, whether the Government has compiled statistics on the respective numbers and proportions of family doctors and service points which are currently charging a co-payment fee of (i) $150 or less and (ii) over $150, as well as the highest co-payment fee;

(4) as it is learnt that there is an imbalance between family doctors and service points participating in the Scheme and participants in some districts, resulting in members of the public having to seek medical treatment in other districts or giving up on participating in the Scheme, whether the Government has measures in place to rationalise the allocation of resources, including encouraging more family doctors and service points to participate in the Scheme;

(5) as the Health Bureau announced on January 20 this year that the Scheme has introduced dedicated nurse clinic and allied health services under the district health network at over 40 service points across Hong Kong, of the number of participants who have received the additional services so far, together with a breakdown by type of service; whether it has plans to further introduce service points in the 18 districts across the territory; if so, of the details; if not, the reasons for that;

(6) given that the 2024 Policy Address has proposed to expand the Scheme to cover blood lipid testing within this year, of the specific implementation timetable and work progress concerned; whether it will further expand the Scheme to cover other tests and diseases, such as cholesterol check and osteoporosis; if so, of the details; if not, the reasons for that; and

(7) whether the various service performance indicators of the Scheme since its launch have met the Government’s expectations; how the Government will step up publicity to attract more target members of the public to participate in the Scheme?

Reply:

President,

The Government launched the Chronic Disease Co-Care Pilot Scheme (CDCC Pilot Scheme) in November 2023, which is the first major initiative under the Primary Healthcare Blueprint. The Scheme provides Government-subsidised diabetes mellitus (DM) and hypertension (HT) screening and doctor consultation services to Hong Kong residents aged 45 or above with no known medical history of DM or HT, with the aim to encourage citizens to receive early screening in order to get a better understanding of their own health status, so as to achieve the objectives of early prevention, early identification and early treatment.

In consultation with the Primary Healthcare Commission (PHC Commission), the replies to the respective parts of the question raised by the Hon Chan Pui-leung are as follows:

(1) and (6) As at February 13, 2025, the number of participants in the CDCC Pilot Scheme has exceeded 100 000 (about 101 800) (see Annex I), of which around 58 700 participants have completed the screenings for DM and HT, and around 23 500 of them (i.e. nearly 40 per cent) have been diagnosed with prediabetes (note), DM or HT. The latter patients can proceed to the treatment phase and will be subsidised by the Government to continue their treatment with self-selected family doctors by shouldering certain co-payment amount under a co-payment model, and subject to their health conditions, be offered prescribed medication, and follow-up care at nurse clinics and allied health services. In addition, the Government has established a bi-directional referral mechanism with the Hospital Authority (HA) under the CDCC Pilot Scheme. Family doctors can refer participants with clinical needs to receive a one-off specialist consultation at a designated Medicine Specialist Out-patient Clinic of the HA according to clinical diagnosis and pre-defined criteria and guidelines. 29 participants have received one-off specialist consultation at the HA through the mechanism.

The Government noted that there is a higher proportion of women among participants. As at December 31, 2024, about 67 per cent of the participants were female and 33 per cent were male, with around 70 per cent of participants aged between 45 and 64. In view of the relatively low proportion of male participants, various District Health Centres / District Health Centre Expresses (collectively DHCs) are enhancing their promotional efforts focusing on men, including stepping up promotional efforts targeting at practitioners of particular industries such as transport, construction and catering, and arranging promotional activities on non-working days, especially Sundays.

The Government regularly reviews primary healthcare services and the service scope of the CDCC Pilot Scheme based on scientific evidence and resource utilisation considerations. The Government is actively planning to expand the CDCC Pilot Scheme in 2025 to cover blood lipid testing for eligible participants, allowing a more comprehensive approach to the assessment and proper management of cardiovascular disease risk factors, including the “three highs” (high blood pressure, high blood sugar and high cholesterol). Details will be announced in due course. There is currently no sufficient scientific evidence to support the recommendation that routine screening for osteoporosis among persons at average risk is effective or cost-effective. In light of this, the Government has no plan to provide osteoporosis screening services to the public at the moment. At the health management and promotion level, the DHCs will continue to organise educational activities to promote prevention of osteoporosis and osteoporotic fracture, and collaborate with different community organisations and healthcare service providers to provide information or make referrals for those interested or in need of osteoporosis services.

As mentioned in the Primary Healthcare Blueprint, local studies have shown that the healthcare system can achieve savings in healthcare expenses and reduce the burden of disease through the provision of subsidised screening and management services for DM management to suitable patients. The CDCC Pilot Scheme is a pilot scheme that encourage eligible citizens to undergo screening for DM and HT, two common chronic diseases, so that hidden patients of chronic diseases can be detected at an early stage, and their complications can be treated and prevented as early as possible, thereby reducing the need for hospitalisation. In order to further examine the effectiveness of the CDCC Pilot Scheme, the Government commissioned a local university in the first quarter of 2024 to conduct a study to assess the extent to which the objectives of the Scheme are met and the overall performance, including the service quality, effectiveness, as well as the cost-effectiveness. The Government will review the service model and operational details of the CDCC Pilot Scheme in a timely manner and make enhancements as necessary to ensure its effectiveness.

(2), (3) and (4) Family doctors are generally supportive of the CDCC Pilot Scheme. As at February 13, 2025, there are 599 family doctors (at 785 service points) participating in the CDCC Pilot Scheme, of which 182 family doctors (at 218 service points) offer direct patient enrolment at their clinics.

Of the participating service points, two-thirds (530 service points) charge co-payment at the Government-recommended consultation co-payment fee of $150 or below. The number of family doctors’ service points, the distribution of districts and the range of co-payment set by the family doctors are set out in Annex II.

At present, all districts in Hong Kong have a certain number of family doctor service points. CDCC Pilot Scheme participants can, according to their own needs, choose to go to a service point near their place of residence, workplace or any other suitable service point to match with a family doctor for screening and follow-up services in a flexible manner, and hence the number of enrolled participants across districts may not align with the distribution of family doctor service points. The PHC Commission will continue to strive to increase the number of family doctor service points in various districts, with a view to providing the public with more choices and enhancing their convenience and flexibility in seeking treatment. In this connection, the PHC Commission has organised five webinars to promote and introduce the CDCC Pilot Scheme to family doctors, and actively invited family doctors/clinics, in particular, doctors who enrolled in the General Outpatient Clinic Public-Private Partnership Programme and those enlisted in the Primary Care Directory, to participate in the Scheme. The PHC Commission and the Hong Kong College of Family Physicians co-organised the World Family Doctor Day Symposium 2024 on May 18, 2024, to share and discuss with healthcare professionals the promotion of primary healthcare services in a concerted manner. The Symposium also highlighted the enhancements introduced by the Government to support family doctors in providing necessary care to CDCC Pilot Scheme participants, and successfully encouraged more doctors to join the Scheme.

Furthermore, the Government has been optimising the operational details of the Scheme by streamlining various administrative procedures and workflow, with a view to enhancing the family doctors; ease of operation of the system. Moreover, to increase the flexibility of the CDCC Pilot Scheme, starting from March 2024, members of the public can choose to directly enrol at certain participating clinics of the CDCC Pilot Scheme to pair with a family doctor in the clinic for screening. In addition, having reviewed the actual needs of participants, the Government has expanded the basic-tier drug list of the CDCC Pilot Scheme since August 2024 to increase the coverage of its basic-tier drugs from 43 items at the initial stage to 59 drug items, providing family doctors with greater flexibility in prescribing drugs according to the clinical needs of participants.

(5) In order to provide a broader scope of healthcare services with better coherence to the CDCC Pilot Scheme participants, dedicated nurse clinic and allied health (including optometrists, physiotherapists and dietitians) services were introduced on January 20, 2025. Nurse clinic and allied health services are referral-based. Family doctors or the DHCs will make referrals based on the health needs of CDCC Pilot Scheme participants for suitable treatment and follow-up care. Nurse clinics are generally able to handle most cases effectively and their service points cover Hong Kong Island, Kowloon and the New Territories, whereas allied health services mainly focus on patients with specific clinical needs or complex medical conditions, and thus it is not necessary to establish service points in all districts. In less than a month since the introduction of the relevant services, 47 CDCC Pilot Scheme participants have already made appointments for relevant services, of which 33 have received services (see Annex III).

The dedicated nurse clinic and allied health services will be rolled out in phases, with the first phase to provide services to CDCC Pilot Scheme participants. Other members of the DHCs who are not participating in the CDCC Pilot Scheme will receive dedicated nurse clinic and allied health services under a co-payment model in the next phase, with details to be announced later.

(7) Since the launch of the CDCC Pilot Scheme, the Government has promoted the CDCC Pilot Scheme through various channels, among which the DHCs play an important role. In addition to inviting existing eligible members to participate in the CDCC Pilot Scheme, the DHCs also organise large-scale promotional activities in respective districts and strengthen connection with the public through community outreach activities, mobile outreach vehicles and promotional booths in community complexes. The DHCs have been actively co-operating with community service partners, such as the District Services and Community Care Teams to organise community activities to recruit eligible individuals to become Scheme participants.

At the same time, the Government has also been carrying out other forms of publicity activities to promote the CDCC Pilot Scheme through various television and media channels, and providing the public and healthcare service providers with latest information of the CDCC Pilot Scheme through various communication platforms (such as website, telephone hotline, posters and brochures, electronic newsletters and online briefings).

Note: Prediabetes with glycated haemoglobin level of 6.0 to 6.4 per cent or fasting plasma glucose level of 6.1 to 6.9 mmol/L.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI USA: President Donald J. Trump Intends to Nominate Individuals to Key Posts at the Department of Justice

Source: US State of North Dakota

Today the Department of Justice is proud to announce President Trump’s intent to nominate John Eisenberg to serve as Assistant Attorney General for National Security, Brett Shumate to serve as Assistant Attorney General for the Civil Division, and Patrick Davis to serve as Assistant Attorney General for the Office of Legislative Affairs.

John Eisenberg (The National Security Division)

During President Trump’s first term, John served as the Legal Advisor to the National Security Council, Assistant to the President, and Deputy Counsel to the President for National Security Affairs. John has also served at the Department of Justice in several positions, including Associate Deputy Attorney General in the Office of the Deputy Attorney General and Deputy Assistant Attorney General in the Office of Legal Counsel. In addition to his government experience, John was also a partner at Kirkland & Ellis, where he focused on white-collar and internal-investigation matters as well as data-security issues.

John clerked for J. Michael Luttig of the United States Court of Appeals for the Fourth Circuit and Justice Clarence Thomas of the Supreme Court of the United States. He is a graduate of Yale Law School and Stanford University.

Brett Shumate (The Civil Division)

Brett presently serves as the Acting Assistant Attorney General for the Civil Division. Prior to rejoining the Department, Brett was a partner at Jones Day in Washington, D.C. He previously served at the Department as the Deputy Assistant Attorney General for the Federal Programs Branch in the Civil Division.

Brett clerked for Judge Edith H. Jones of the United States Court of Appeals for the Fifth Circuit. He is a graduate of Wake Forest University School of Law and Furman University.

Patrick Davis (The Office of Legislative Affairs)

This will be Patrick’s third stint with the Department of Justice. During President Trump’s first term, Patrick served in DOJ management as Deputy Associate Attorney General. Earlier in his career, he served as a trial attorney in the Federal Programs Branch of the DOJ’s Civil Division. On Capitol Hill, Patrick was the Deputy Chief Investigative Counsel for the Senate Judiciary Committee, where he led the Committee’s “Russiagate” investigation and was instrumental in the confirmation of Justice Brett Kavanaugh. He later served as the Chief Investigative Counsel for the House Permanent Select Committee on Intelligence.

Patrick rejoined the Department of Justice as the Acting Assistant Attorney General for the Office of Legislative Affairs. Prior to his return to the Department, he served as Senior Counsel at the American Petroleum Institute.

Patrick is a graduate of Georgetown University Law Center and the University of Nebraska.

MIL OSI USA News –

February 20, 2025
MIL-OSI Europe: Isabel Schnabel: Interview with the Financial Times

Source: European Central Bank

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Olaf Storbeck on 14 February 2025

19 February 2025

How relevant is the natural rate – R* – for day-to-day policymaking from your point of view?

The natural rate of interest is an important theoretical concept. But it’s not well-suited to determine the appropriate monetary policy stance. The ECB staff analysis that was published recently had one main message: we know that we know very little. Model and estimation uncertainty result in confidence bands that are so wide that they include any reasonable interest rate that the ECB may set at this point. Moreover, R* is a steady-state concept for a world without shocks. That’s certainly not the world that we are in today. Just look at what’s happening with the evolving trade conflict on which we are getting news on a daily basis. So for all those reasons, I think R* cannot be any reliable guide for monetary policy in real time.

Has your view on this changed?

The point I have always emphasised is how R* is evolving over the longer term. People have focused too much on the narrow range for R* that was given in the staff note. This is misleading for several reasons. The narrow range only includes the models for which estimates were already available for the fourth quarter of 2024. If you look at the R* estimates for the third quarter, you see that the range actually goes up all the way to 3%. This is even above the current deposit facility rate of 2.75%. And that range still only includes the uncertainty stemming from using different models. If you add the parameter and filtering uncertainty, you get even wider bands. The one thing that you do see is that the overall range seems to have moved up over recent years. For me, that is the key point.

But the most recent ECB estimates of R* also suggest that the current level is still lower than it was before the global financial crisis and the European sovereign debt crisis.

That remains to be seen. There has been a clear upward trend. I expect this trend to continue for a number of reasons, including high and rising public debt and the huge investment needs for the digital and green transitions. Another factor is increasing global fragmentation. It leads to a partial reversal of the global savings glut, due to shrinking current account surpluses of some major economies, which was one of the main factors that had pushed R* down. So for me, the main message from the R* analysis is: maintaining price stability over the medium term is likely to require higher real rates in the future than before the pandemic. We cannot pin down the level of R* with any degree of confidence, but we can get an impression about the direction. For me, that direction for R* now is upwards again.

The Euro zone economy suffers from a lack of economic dynamism and economic growth. Doesn’t this put downward pressure on the natural interest rate?

Yes, there have been secular factors that have pushed R* down. But we are currently in a situation of transformation that may actually reverse that trend. That’s the whole point.

When you say that R* is not very helpful for short-term monetary policymaking, why have you stressed it so much in your speeches and interviews?

It’s important that we understand general macroeconomic trends. Also in the pre-pandemic period, it was very important to understand the underlying natural real rate environment. It can never be precise, but it helps us understand the broader picture. It has no impact on any individual rate decision.

But would you say that it is relevant for the medium-term trajectory of monetary policy, let’s say for the next year or two? Or does it only matter over the next ten or 20 years?

I think it has an impact on our medium-term thinking.

Medium-term thinking would mean: it matters over the next two to three years, right?

Well, it’s hard to pin down precisely.

Some ECB observers have suggested that the natural rate was used by more hawkish voices as an argument in favour of being more careful and not lowering interest rates too fast. Would you agree?

If you believe that R* has moved up, this argues for a more cautious approach. But this cannot just depend on R*. We need to look at the incoming data in order to understand how restrictive our monetary policy is. And the more evidence we have that monetary policy is no longer restrictive, the more cautious we have to become because further rate cuts may no longer be appropriate.

So how restrictive is the ECB’s monetary policy at the moment?

The data are showing that the degree of restriction has come down significantly, up to a point where we can no longer say with confidence that our monetary policy is still restrictive. One of the important data sources in this context is the bank lending survey.

We’re looking at that very carefully. For corporate loans, 90% of banks said in the most recent round that the general level of interest rates has no impact on loan demand, while 8% said it has lifted credit demand. A year ago, a third of banks said that interest rates were weighing on loan demand. It’s even clearer when you look at mortgages. Almost half of banks said in the most recent round that the general level of interest rates is supporting loan demand. A year ago, more than 40% said that it was constraining loan demand. This is also reflected in a historically strong increase in mortgage demand in that same survey, which is gradually transmitting into the hard data on loan growth. Corporate loans were growing by 1.5% in December, mortgages by 1.1%.

The easing is also being transmitted to the real economy. Consumption picked up in the third quarter by more than we had expected. And the savings rate has started to come down from its very high level. But of course, there are transmission lags, and part of the easing is still in the pipeline.

You said that you can’t say with confidence anymore if monetary policy is still restrictive. The last ECB policy statement clearly stated that it still is. Do you have a different view than the ECB stated in its latest policy statement?

No, I fully agreed with the statement last time. But we are now a step further, right? The January monetary policy statement referred to the interest rate of 3% and the level of restrictiveness before the latest monetary policy decision. The further we go down, the lower my conviction in such a statement will be. And note that I’m not saying our monetary policy is no longer restrictive. What I’m saying is I’m no longer sure whether it is still restrictive. But we should not overstate a difference of 25 basis points.

Should the ECB drop the reference to restrictiveness in March?

That is a discussion we should have in the next meeting.

In an FT survey of Euro zone economists just before Christmas, half of them said they think that the ECB is behind the curve. What is your view on this?

I’m firmly in the camp of the other half who think that we are right on track. The data that we’ve seen have confirmed that our gradual and cautious approach has been appropriate. Domestic inflation is still high, wage growth is still elevated, and we’ve seen new shocks to energy prices. We’ve also seen that inflation expectations are very sensitive to such shocks. So I think our approach is just right.

Some economists argue that the big uncertainty and all those shocks could justify insurance cuts. Do you have any view on that?

I don’t see any argument for that at this point, especially as we are getting closer to no longer being restrictive. If anything, we are getting closer to the point where we may have to pause or halt our rate cuts.

Pause or halt… but not increase?

No. That I would exclude.

How close do you think we are to the point where the ECB should pause its easing?

I will leave that to your interpretation. I don’t know what’s going to happen in the next meetings, so let’s see. But we need to start that discussion.

That’s not what markets take as the base case scenario right now. Do you think that markets are ahead of themselves?

Well, markets have been jumping around a bit in response to what is happening in the world. But an April rate cut is no longer fully priced in. So markets are not entirely sure either.

How well is monetary transmission working at the moment? We saw quite an uptick in yields in December although there wasn’t any change in monetary policy. All other things being equal, this slows down monetary policy transmission, doesn’t it?

We have lowered the deposit facility rate by 125 basis points over the past eight months, and this has been transmitted smoothly to short-term market rates. We’ve also seen that bank lending rates have come down quite a bit – corporate loan rates by 92 basis points and mortgage rates by 64 basis points by December. This is significant. It tells you that transmission is working. When it comes to government bond yields, it’s important to look through the short-term volatility and take a somewhat longer perspective. And what you see then is that sovereign bond yields have remained rather stable. We had a strong repricing in 2022, when the ten-year Bund moved from negative territory at the end of 2021 to around 2.4% in October 2022. That is very close to the number that we’re seeing today. So we’ve been seeing a return of long-term sovereign bond yields to their new normal. We shouldn’t overstate the short-term volatility that we’ve experienced over the past weeks.

There’s another aspect that is quite important. One of the most interesting features of this tightening cycle is that it has not led to a comparable tightening of broader financial conditions. The exceptionally strong risk appetite of financial investors has even boosted equity prices and compressed credit spreads, and that has weakened monetary policy transmission. And part of that is due to the fact that we are still holding a very large monetary policy bond portfolio.

But overall, also taking into account the lags, monetary policy transmission is working fine.

Is the ECB’s “meeting-by-meeting” communication really credible? The ECB now says that the direction of travel is clear. Isn’t this a pre-commitment to further rate cuts?

I firmly believe in the meeting-by-meeting approach. The current time of high volatility is certainly not the time to tie our hands through forward guidance. And this is also what we stress in our monetary policy statements: we are not pre-committing to any particular rate path. At the time when it was still relatively clear that monetary policy was restrictive, one could infer the direction of travel from that. But this is no longer the case. And therefore, for me, the direction of travel is not so clear anymore.

Is this view shared by the majority of the Executive Board or the Governing Council?

It’s not for me to comment on that. It’s going back to the point that we now have to start the discussion on how far we should go. I’m not saying that we’re there yet. But we have to start the discussion.

If we take the meeting-by-meeting approach and data dependency as a given, does the type of data that has to be assessed need to change over time?

There are broadly two sets of data that we need to focus on. The first one refers to the inflation outlook: inflation itself, inflation expectations, wages, productivity, exchange rates. We use incoming data to cross-check the assumptions underlying our projections. This is why I never saw data dependence as a backward-looking concept. It was always forward-looking because we use incoming data to learn more about the credibility of our inflation outlook. The second set of data relates to the level of restrictiveness of monetary policy: interest rates, broader financial conditions, lending markets, the housing market as well as domestic demand, that is consumption, savings and investment. Of course, when we have a monetary policy meeting, we always look at all available data.

Can I challenge you on your claim that it was always forward-looking? At the time of high inflation, the ECB put a lot of emphasis on the actual inflation data from the previous month, which by definition is backward-looking. GDP numbers are by definition also very backward-looking.

I don’t agree. What do we learn from the current inflation data? We learn whether the transmission of our policy or of shocks is working as expected. High services inflation tells us something about its stickiness. If we spot deviations, we will eventually adjust our models but we also have to change our view about the medium-term outlook. So, in my view it was never backward-looking.

Data dependence is all the more important in today’s world. Some people say that the projections have become more credible. But who knows what’s going to happen as regards the trade conflict, the war in Ukraine and so on. We are faced with an unusual number of shocks, and that requires us to be always able to react. I don’t have a fixed mindset about what to do. Quite the opposite. I think we need to be able to adjust to whatever data or shock is coming in and what’s happening in the world and in the euro area economy.

What are the current data telling us about the inflation outlook?

Both services inflation and wage growth are still at an uncomfortably high level. Our projections foresee a deceleration of both. But this still needs to materialise. Services inflation has been stuck at around 4% since November 2023, and it still has to come down. For me, this is actually quite important. And therefore, the incoming data will be very relevant because our projections foresee a relatively quick deceleration of services inflation over this year.

How quickly do you want to see service inflation coming down?

It should start to come down in February. That’s what we expect. Over time, it does not necessarily have to come down to 2% but to a level that is consistent with our medium-term 2% target. Wage growth is also still high, but we have many indications that it is going to decelerate. For example, our wage tracker shows that wage growth is expected to drop steeply in the second half of the year. Part of that is due to a base effect from one-off payments. Hence, wage growth is expected to stay relatively elevated over the first half of the year. So we still need to see this deceleration. This is something that I pay a lot of attention to.

How concerned are you about recent swings in energy prices?

Energy and food prices can always offer surprises. We have seen some relatively strong moves in energy prices recently. Gas prices moved up a lot. That was mainly driven by cold temperatures. Very recently, gas prices dropped sharply. This seems to be driven partly by uncertainty about whether countries will fill up their gas storages as quickly as originally intended. A second reason is the debate about a potential ceasefire in Ukraine. This can cause a lot of volatility, which can have a strong impact on headline inflation and also on underlying inflation because energy serves as an input. We have to monitor this carefully.

What are the implications for monetary policy from energy price volatility? Is this deflationary or inflationary?

Recent volatility has been extreme. Before the recent fall in gas prices it was clearly inflationary. But now we have to see how that is going to play out. In general, I see risks to our inflation outlook as somewhat skewed to the upside. So I would not exclude that inflation comes back to 2% later than we had anticipated. But that remains to be seen.

The ECB this year will review its monetary strategy. President Lagarde has excluded the current inflation target from that review. Do you think that’s the right call?

Our symmetric, medium-term inflation target of 2% has served us very well in the high inflation period. So I really don’t see any reason to question it. And I believe there is strong support for this view in the Governing Council. What we have seen, however, is how quickly the inflation environment can change. And we have also learned how much people dislike inflation. But for me, that has implications primarily for the reaction function and not for the target. I think these two should be kept apart.

What are the potential implications for the reaction function?

The reaction function should be part of the debate. Back in 2021 during the previous strategy review, the discussion was very much under the impression of the low-for-long period. The main concern at the time was that our monetary policy was constrained by the effective lower bound on interest rates. When you read the monetary policy strategy statement today, you would think it comes from a different world. It focused on the risk of inflation being too low, and stated that we should be particularly forceful or persistent in such a scenario. But we have shifted to a new world. The past few years have shown that there are also risks of a de-anchoring of inflation expectations to the upside and that upside inflation risks can materialise quickly and become more persistent due to second-round effects. And therefore, I believe that the new reaction function should be symmetric in order to take into account the risks in both directions. This is especially true given that we are likely to face more adverse supply-side shocks going forward.

So effectively you are arguing in favour of a more hawkish reaction function?

I don’t like these notions of hawks and doves, and I don’t think that they are relevant here. My point is that our reaction function should acknowledge the fundamental shift of the macroeconomic environment. Up to 2021, we paid very little attention to upside risks to inflation. There was the perception that central banks would know precisely how to deal with a surge in inflation. But we’ve experienced that it has been quite difficult. Inflation has been above target now for almost four years. Looking forward, we should be putting equal weight on risks in both directions. And I wouldn’t call that a hawkish assertion.

Should the ECB toolkit be changed?

We’ve gained a lot of experience with the different tools. I do believe that all the tools we have should remain in our toolkit. But we’ve learned how important it is to carefully weigh the benefits and costs of our instruments – especially when it comes to asset purchases. They have proven very effective in stabilising markets. But as a monetary policy stance instrument, they have been less beneficial and costlier than we thought. This should be taken into account. The same applies to forward guidance. Many people believe that forward guidance led to a delayed response to the inflation surge. So forward guidance is another tool that we need to look at very carefully.

Are you implicitly saying that ECB should not have done as much quantitative easing as it did in the years up to 2021?

My point is that once we are back to a more normal world – a situation where inflation expectations are well anchored, and services inflation and unit labour cost growth have come down – and we are confident that we are sustainably back at our target, then we could become more tolerant of moderate deviations from our target. We should stop fine-tuning and responding to single data points. We should instead focus on large persistent shocks that give rise to a risk of a de-anchoring of inflation expectations in either direction.

So is your point that the ECB should be more willing to tolerate downward deviations to the 2% target in a steady state?

We should be more willing to tolerate both moderate downward and upward deviations, and act when there is a threat of de-anchoring.

But that’s an implicit change to the inflation target, is it not?

No, not at all. My point is that we should be less activist and rather take the time to assess whether shocks pose a serious risk to inflation expectations. Of course, we should keep in mind that the vulnerability of inflation expectations may have changed after the recent inflation experience. People have learned that inflation can increase sharply and that this is very harmful. Firms have learned that they can reprice relatively quickly, and we have to take this into account.

Finally, we need to think about how to deal with the uncertainty around our economic and inflation outlook. For me, the most useful way to deal with that is to make greater use of scenario analysis – and in a different way than we’ve done over the past years. Back then we were looking at tail risks, which was very useful. But in the future, we should also look at plausible alternative scenarios in order to get away from the illusion of precision that we create by just focusing on the baseline point estimate. We all know there is a lot of uncertainty around it. So I think it would be important to also look at plausible alternative scenarios to illustrate this uncertainty.

MIL OSI Europe News –

February 20, 2025
MIL-OSI Europe: Answer to a written question – The position of the VP/HR regarding the recent developments in Syria – E-002931/2024(ASW)

Source: European Parliament

The fall of the Assad’s regime marks a historic moment for the Syrian people, who have endured immense suffering and demonstrated extraordinary resilience in their pursuit of dignity, freedom, and justice. All Syrians should now have the chance to know the truth about the fate of their loved ones. All Syrians, in the country and the diaspora, must have an opportunity to reunify, stabilise and rebuild their country.

The EU is pursuing early engagement with Syria’s new leadership while exercising prudence. The EU is very attentive to the statements but more importantly to the acts of the new authorities. All stakeholders should engage in an inclusive, Syrian-led and Syrian-owned dialogue on all key issues to ensure an orderly, peaceful and non-discriminatory transition, guided by the respect for international law, human rights, fundamental freedoms, non-discrimination, pluralism and tolerance among all components of society.

The European Council has tasked the Commission and the High Representative to develop actionable options to support Syria’s transition. The EU’s efforts are being carefully assessed with the Member States and coordinated with key partners.

Last updated: 19 February 2025

MIL OSI Europe News –

February 20, 2025
MIL-OSI Europe: Answer to a written question – Certificate of Professional Competence (CPC) – driver shortage in the EU – E-002658/2024(ASW)
Source: European Parliament
The Commission is concerned about the shortage of professional bus and truck drivers in the EU and it is of the view that t he current driver shortage which keeps growing should first and foremost be addressed by making the profession more attractive . The EU has recently taken several measures to improve the regulatory framework in which professional drivers operate in the EU.

The Mobility Package[1] introduced significant improvements of the working conditions of drivers and thus increased the attractiveness of the profession.

The Commission is also supporting, through the Connecting Europe Facility (CEF)[2], the development of new and the upgrade of existing safe and secure truck parking areas (SSTPAs) to allow drivers to spend their rest periods in adequate conditions. The existence of sufficient SSTPAs is considered by drivers as an essential element for their wellbeing.

The Commission is also assisting Member States and the relevant stakeholders in increasing the attractiveness of the profession through various programmes[3].

It is also in regular contact with the relevant stakeholders with a view to further improving the working conditions of drivers and incentivise more women and young people to take up the profession of driver.

T he Commission has also launched a study that investigates the conditions for employment of third-country drivers in the various EU Member States and into the level of qualification and skills that drivers from t hird countries already have when they arrive in the EU.

Once the results of this study are available, the Commission may consider any further measures as regards Certificate of Professional Competence , as appropriate.

[1] Regulation (EU) 2020/1054 of the European Parliament and of the Council of 15 July 2020, Regulation (EU) 2020/1055 of the European Parliament and of the Council of 15 July 2020 and Directive (EU) 2020/1057 of the European Parliament and of the Council of 15 July 2020, all OJ L 249, 31.07.2020.

[2] https://cinea.ec.europa.eu/programmes/connecting-europe-facility/transport-infrastructure_en

[3] Such as the European Social Fund Plus (https://european-social-fund-plus.ec.europa.eu/en), E rasmus+ (https://erasmus-plus.ec.europa.eu/), the reinforced Youth Guarantee (https://ec.europa.eu/social/main.jsp?catId=1079&langId=en) and Invest EU (https://europa.eu/investeu/home_en)
Last updated: 19 February 2025
MIL OSI Europe News –
February 20, 2025
MIL-OSI Europe: Answer to a written question – Penalties for driving under the influence of drugs – E-003000/2024(ASW)
Source: European Parliament
1. The Commission agrees that addressing driving under the influence of alcohol and drugs is crucial. Alcohol-related incidents account for around a quarter of road deaths in the Union[1]. The Commission supports platforms like the High-Level Group on Road Safety for sharing best practices among Member States and the EU Road Safety Exchange facilitates learning between Member States on enforcing drink and drug-driving laws, including using alcohol interlocks. Directive (EU) 2015/413[2] covers drink and drug-driving offences, allowing easier punishment of non-resident offenders. The proposed Directive on the Union-wide effect of driving disqualifications aims to extend driving bans for such offences across the EU under certain circumstances. Addressing drug-impaired driving is also one of the priorities of the EU Drugs Strategy[3] and its related Action Plan 2021-2025[4], which call for the implementation of measures raising awareness of the risks of driving while impaired by drugs and further research and innovation of on-site drug detection tools.

2. The rising number of fatal crashes involving electric scooters is also a matter of concern to the Commission. While setting traffic rules is primarily a matter for the Member States, the Commission has supported the publication of guidance for the safe use of personal mobility devices[5] which offers suggestions and good practices to local authorities. A recent study[6] suggests a universal technical approval system for such devices, and the Commission is considering how best to follow up on those recommendations.

[1] https://road-safety.transport.ec.europa.eu/document/download/bd2408b2-64ce-44a8-a4ca-d7820c7c91ba_en?filename=ERSO-TR-alcohol_drugs_2023.pdf

[2] https://eur-lex.europa.eu/eli/dir/2015/413/oj/eng

[3] EU Drugs Strategy 2021-2025, OJ C 102I, 24.3.2021, p. 1.

[4] EU Drugs Action Plan 2021-2025, OJ C 272, 8.7.2021, p. 2-28.

[5] https://urban-mobility-observatory.transport.ec.europa.eu/sustainable-urban-mobility-plans/expert-corner-sump-reference-materials_en

[6] https://op.europa.eu/en/publication-detail/-/publication/4286a092-a55f-11ef-85f0-01aa75ed71a1
Last updated: 19 February 2025
MIL OSI Europe News –
February 20, 2025
MIL-OSI Europe: Written question – Seasonal firefighters – E-000569/2025
Source: European Parliament
Question for written answer E-000569/2025
to the Commission
Rule 144
Konstantinos Arvanitis (The Left)

Every year since 2003, without fail, the Greek fire brigade has employed workers in order to cover its permanent and lasting staffing needs. During this time, these workers have been carrying out the same tasks as the fire brigade’s permanent staff, covering the service’s permanent and lasting staffing needs as a matter of course. Nevertheless, they always seem to be employed under successive fixed-term contracts – a contract type that is not justified based on the needs of these workers either. These employees are well-established and fundamental to the very functioning of the service, which is all the more evident given the fact that some of these workers have more than 20 years of service under their belts. Moreover, due to the undoubtable effects of the climate crisis, the need for the Greek fire brigade (not only for firefighting but also for general responses to any severe and extreme natural phenomenon, flooding, earthquakes, etc.) has increased and is not limited to a specific period of time.

The Greek Government’s practice of drawing up successive fixed-term employment contracts for a number of years, without any objective justification, is contrary to the protective provisions of Directive 1999/70/EC[1].

What measures will the Commission take to ensure that the Greek Government complies with the provisions of Directive 1999/70/EC?

Submitted: 7.2.2025

[1] Article 1: ‘The purpose of the Directive is to put into effect the framework agreement on fixed-term contracts’. Preamble to the framework agreement: ‘The parties to this agreement recognise that contracts of an indefinite duration are, and will continue to be, the general form of employment relationship between employers and workers’, ‘whereas employment contracts of an indefinite duration are the general form of employment relationships and contribute to the quality of life of the workers concerned and improve performance’. Article 2 of the directive: ‘Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this directive by 10 July 1999, or shall ensure that, by that date at the latest, management and labour have introduced the necessary measures by agreement, the Member States being required to take any necessary measures to enable them at any time to be in a position to guarantee the results imposed by this Directive. They shall forthwith inform the Commission thereof.’
Last updated: 19 February 2025
MIL OSI Europe News –
February 20, 2025
MIL-OSI Europe: Written question – LEZs and their lack of transparency and order – E-000247/2025
Source: European Parliament
Question for written answer E-000247/2025
to the Commission
Rule 144
Diego Solier (ECR), Nora Junco García (ECR)

The implementation of low emission zones (LEZs) in Spain, particularly in Madrid, reflects an alarming lack of planning and consideration for their socio-economic impact on citizens. Despite EU mandates, the Spanish Government has demonstrated incompetence in the management of these regulations, resulting in court decisions that have paralysed them due to formal defects and lack of information at the regional, municipal and national levels. This administrative chaos severely affects thousands of families in Madrid, with 250 000 vehicles facing irrational restrictions without viable alternatives or effective aid.

Furthermore, the inadequacy of the plans to transition to electric vehicles, exacerbated by the lack of state budget and the inability to manage EU funds, is evidence of poor management and a disconnection from the economic reality of citizens. Meanwhile, car manufacturers face disproportionate demands that threaten the stability of the industry, which is crucial for employment in Spain.

In view of this:

1.What measures will the Commission take to ensure that Member States such as Spain carry out thorough economic analyses before implementing low emission zones?

2.Is the Commission considering revising the deadlines for the transition to electric vehicles in order to adapt them to the real capacity of citizens and industry?

3.What mechanisms does the Commission have in place to prevent EU funds from being inefficiently managed by Member States?

Submitted: 21.1.2025
Last updated: 19 February 2025
MIL OSI Europe News –
February 20, 2025
MIL-OSI Europe: Written question – Restoring the competitiveness of the steel industry – E-000575/2025
Source: European Parliament
Question for written answer E-000575/2025
to the Commission
Rule 144
Oihane Agirregoitia Martínez (Renew)

The European steel industry is leading global decarbonisation initiatives and is key to the EU’s prosperity, resilience and strategic autonomy. However, it is facing increasing pressure due to global state-funded overcapacity, flooding the EU market with products at low prices. In addition, high energy and carbon costs, together with uncertainty about the supply of low-carbon energy, is jeopardising its green transition.

In addition, resource shuffling allows exporters to divert products with a lower carbon footprint to the EU while still selling more polluting products on other markets, without a real reduction in global emissions. The Commission should address this risk with tools such as the Carbon Border Adjustment Mechanism (CBAM).

In view of the above:

1.How does the Commission plan to amend or adapt the safeguard measure to reflect the current situation in the steel market in the EU before 1 April 2025?

2.What approach does it intend to take with regard to this measure after that date?

3.What mechanisms does the Commission envisage to prevent resource shuffling and to ensure that imports reflect real emission reductions in the countries of origin?

Submitted: 7.2.2025
Last updated: 19 February 2025
MIL OSI Europe News –
February 20, 2025
MIL-OSI Europe: Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Source: European Investment Bank

EIB
- EIB Group’s fresh financing in Greece last year amounted to €2.2 billion
- Focus last year on energy supply, business growth and disaster management
- Latest annual results bring EIB Group support in Greece over past five years to €14.5 billion
The European Investment Bank (EIB) Group’s new financing in Greece amounted to €2.2 billion last year, with major support to bolster energy supplies, strengthen businesses and protect against environmental disasters in the country.

The total for 2024 included €2.03 billion from the EIB and portfolio guarantees of €152 million from the European Investment Fund (EIF), which focuses on innovative and technology-driven small and medium-sized enterprises (SMEs) as well as Small Mid-Caps in Europe.

Top operations included loans of €390 million to natural-gas supplier DEPA Commercial to build solar parks, €150 million to power provider HEDNO to upgrade the grid, loans and guarantees of €550 million to domestic banks to expand financing for SMEs and Mid-Caps and €220 million to the government to bolster disaster management.

Kostis Hatzidakis, Minister of Finance of the Hellenic Republic noted: “Greece’s relationship with the European Investment Bank is long-standing and strong. This was reaffirmed in 2024, with new financing reaching €2.2 billion. These funds will be used for investments in renewable energy sources, upgrades to the electricity grid, support for SMEs, and the purchase of firefighting aircraft and rescue equipment. The EIB was a valuable ally when Greece was cut off from the markets. It will remain a partner, but with a new approach. Going forward, priorities will focus on energy interconnections, research and technology, climate adaptation, and defense investments, as outlined in the EIB’s Strategic Roadmap”.

“Our work in Greece is a testament to the transformative power of strategic financing,” said EIB Vice-President Yannis Tsakiris. “In 2024, we reinforced our commitment to the country by supporting clean energy, climate resilience and critical infrastructure while strengthening SMEs, innovation, job creation and social cohesion.”

The latest annual results bring total EIB Group financing in Greece over the past five years to €14.5 billion. The yearly average in the country since 2000 is almost €2.9 billion, which reflects an unusually high sum of almost €5 billion in 2021 as a result of the Covid-19 pandemic.

The EIB Group’s support last year was almost 1% of Greece’s gross domestic product (GDP), the third-highest level among European Union countries behind only Croatia and Estonia. That means that EIB Group financing in Greece last year averaged €631 per inhabitant, making the country one of the biggest beneficiaries based on the size of the population and the economy. The funding is projected to catalyse investments in Greece of up to €6.6 billion – about 2.5% of its GDP.

Energy supply

The €390 million EIB loan to DEPA Commercial is for new photovoltaic (PV) parks in the regions of western Macedonia, Thessaly and central Greece. The sites will add approximately 800 megawatts (MW) of renewable energy – enough to power 278,000 households for a year.

Also in the area of clean energy, the EIB last year provided a €195 million loan to supplier PPC Renewables to develop 580 MW of solar plants and 175 MW of battery storage. The moves will boost renewables capacity, grid stability and energy security.

The €150 million EIB credit to HEDNO covers upgrades to Greece’s electricity-distribution network, improving grid reliability and facilitating integration of renewables.

The EIB last year also took part in the creation of an EU “Decarbonisation Fund” for Greece that will channel €1.6 billion in revenue from the European emissions-trading system into sustainable energy and development projects on Greek islands. These include grid interconnections with the mainland and the phase-out of local power plants.

Business boost

The EIB last year allocated a total €702 million to strengthen SMEs and Mid-Caps in Greece. The support – 28% of the total – took the form of intermediated loans and guarantees.

Top operations included €300 million guarantees to Eurobank and National Bank of Greece covering €600 million new loans to Mid-Caps. In addition, the EIB provided a €250 million loan to the National Bank of Greece to bolster green investments by Greek SMEs and Mid-Caps. The credit raised total EIB support for such investments in Greece to €1 billion.

The EIF also showed its agility in supporting vital investments for both debt and equity. It signed €152m with several of Greece’s financial institutions for capped portfolio guarantees. They are expected to mobilise up to €1,8bn in financing for small and medium-sized enterprises, while making the Greek economy greener, and supporting innovation and the country’s digital transition.

The EIF also signed a new €200 million equity mandate to support innovative companies in Life Sciences & Healthcare and Sustainability & Social Impact by improving their access to vital financing. Funded by Cohesion policy and national resources of the Hellenic Republic, the mandate will cover a financing gap in these sectors, supporting investments from pre-seed to growth stages based on market needs.

Disaster protection

The €220 million EIB loan last year to the Greek government is to buy fire trucks, rescue vehicles and aircraft needed to fight to natural disasters such as wildfires and floods, both of which have caused extensive damage in Greece in recent years. The credit also covers upgrades to essential disaster-management services.

The financing forms part of a European climate-adaptation plan by the EIB Group and brings its total support for Greek civil protection and disaster preparedness to €595 million.

EIB Advisory

There were also key technical assistance projects delivered from EIB Advisory, a highlight being an agreement with the Athens Water Supply and Sewerage Company (EYDAP) to back its €2 billion, 10-year investment programme to ensure the Greek capital has a more resilient water supply and supporting investments in lignite-dependent regions such as Western Macedonia and Megalopolis in the Peloponnese, facilitating their transition to a future of clean energy.

In December 2024, the continuation of advisory support by EIB advisors from the PASSA team to the Greek administration was approved. This support aims to ensure the smooth implementation of sustainable development and Just Transition projects financed by the EU.

Background information

EIB

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, important investments outside the EU, and the Capital Markets Union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

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.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers

Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
Download original

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
Download original

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
Download original

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
Download original

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
Download original
MIL OSI Europe News –
February 20, 2025
MIL-OSI Security: President Donald J. Trump Intends to Nominate Individuals to Key Posts at the Department of Justice

Source: United States Attorneys General

Today the Department of Justice is proud to announce President Trump’s intent to nominate John Eisenberg to serve as Assistant Attorney General for National Security, Brett Shumate to serve as Assistant Attorney General for the Civil Division, and Patrick Davis to serve as Assistant Attorney General for the Office of Legislative Affairs.

John Eisenberg (The National Security Division)

During President Trump’s first term, John served as the Legal Advisor to the National Security Council, Assistant to the President, and Deputy Counsel to the President for National Security Affairs. John has also served at the Department of Justice in several positions, including Associate Deputy Attorney General in the Office of the Deputy Attorney General and Deputy Assistant Attorney General in the Office of Legal Counsel. In addition to his government experience, John was also a partner at Kirkland & Ellis, where he focused on white-collar and internal-investigation matters as well as data-security issues.

John clerked for J. Michael Luttig of the United States Court of Appeals for the Fourth Circuit and Justice Clarence Thomas of the Supreme Court of the United States. He is a graduate of Yale Law School and Stanford University.

Brett Shumate (The Civil Division)

Brett presently serves as the Acting Assistant Attorney General for the Civil Division. Prior to rejoining the Department, Brett was a partner at Jones Day in Washington, D.C. He previously served at the Department as the Deputy Assistant Attorney General for the Federal Programs Branch in the Civil Division.

Brett clerked for Judge Edith H. Jones of the United States Court of Appeals for the Fifth Circuit. He is a graduate of Wake Forest University School of Law and Furman University.

Patrick Davis (The Office of Legislative Affairs)

This will be Patrick’s third stint with the Department of Justice. During President Trump’s first term, Patrick served in DOJ management as Deputy Associate Attorney General. Earlier in his career, he served as a trial attorney in the Federal Programs Branch of the DOJ’s Civil Division. On Capitol Hill, Patrick was the Deputy Chief Investigative Counsel for the Senate Judiciary Committee, where he led the Committee’s “Russiagate” investigation and was instrumental in the confirmation of Justice Brett Kavanaugh. He later served as the Chief Investigative Counsel for the House Permanent Select Committee on Intelligence.

Patrick rejoined the Department of Justice as the Acting Assistant Attorney General for the Office of Legislative Affairs. Prior to his return to the Department, he served as Senior Counsel at the American Petroleum Institute.

Patrick is a graduate of Georgetown University Law Center and the University of Nebraska.

MIL Security OSI –

February 20, 2025

MIL-OSI: Mattr Announces Dates of Earnings Releases and Associated Conference Calls Through Fourth Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) — Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today its reporting schedule for its financial results and related conference calls. Financial results for the respective reporting periods are expected to be reported on the below dates, after the market closes for trading on the TSX. A conference call/webcast to discuss results from the respective reporting periods will be held on the below dates at 9:00am ET.

Reporting Period:	Financial Results:	Conference Call/Webcast:
Q4 – 2024	March 13, 2025	March 14, 2025
Q1 – 2025	May 14, 2025	May 15, 2025
Q2 – 2025	August 13, 2025	August 14, 2025
Q3 – 2025	November 12, 2025	November 13, 2025
Q4 – 2025	March 12, 2026	March 13, 2026

Mattr will use a presentation to accompany its conference calls. The presentation can be found on the Company’s website in advance of the earnings call and can also be accessed via the conference call/webcast. Please visit the Mattr Investor Centre website at mattr.com or use the following link https://investors.mattr.com/news-events/events-and-presentations for further details.

About Mattr

Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. The Company operates through a network of fixed manufacturing facilities. Its two business segments, Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure.

For further information, please contact:

Meghan MacEachern
VP, Investor Relations & External Communications
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com

Source: Mattr Corp.

The MIL Network –

February 20, 2025

MIL-OSI: Diversified Energy Announces Proposed Offering of Ordinary Shares

Source: GlobeNewswire (MIL-OSI)

BIRMINGHAM, Ala., Feb. 19, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) (“Diversified” or the “Company“), an independent energy company focused on natural gas and liquids production, transportation, marketing and well retirement, today announces the launch of an underwritten public offering (the “Offering”) in the United States of up to 8,500,000 ordinary shares (the “Shares”).

Citigroup and Mizuho are acting as joint book-running managers and underwriters for the proposed Offering.

In addition, Diversified intends to grant the underwriters an option to purchase up to an additional 850,000 ordinary shares at the public offering price, less underwriting discount. The Offering is subject to market conditions and other factors, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

The Company intends to use the net proceeds from the Offering to repay a portion of the debt expected to be incurred by the Company in connection with the proposed acquisition of Maverick Natural Resources, LLC, as announced on January 27, 2025 (the “Acquisition”). In the event that the Acquisition does not close, the Company intends to use the net proceeds from the Offering to repay debt and for general corporate purposes. The consummation of the Offering is not conditioned upon the completion of the Acquisition, and the completion of the Acquisition is not conditioned upon the consummation of the Offering.

A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (the “SEC“) on February 11, 2025 and became effective upon filing. Copies of the registration statement can be accessed through the SEC’s website free of charge at www.sec.gov. The Offering will be made only by means of a prospectus supplement and an accompanying prospectus in the United States. A preliminary prospectus supplement and the accompanying prospectus related to the Offering will be filed with the SEC and will be available free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus can also be obtained, when available, free of charge from either of the joint book-running managers for the Offering: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); or Mizuho Securities USA LLC, Attention: Equity Capital Markets Desk, at 1271 Avenue of the Americas, New York, NY 10020, or by email at US-ECM@mizuhogroup.com.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy our ordinary shares nor shall there be any sale of securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

CONTACTS

Diversified Energy Company PLC	+1 973 856 2757
Doug Kris	dkris@dgoc.com
Senior Vice President, Investor Relations & Corporate Communications

FTI Consulting	dec@fticonsulting.com
U.S. & UK Financial Media Relations

About Diversified

Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

Forward-Looking Statements

This press release includes forward-looking statements. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe”, “expects”, “targets”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “plans”, “predicts”, “continues”, “assumes”, “projects”, “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of management or the Company concerning, among other things, expectations regarding the proposed Offering of securities and the Acquisition. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and all of which are based on management’s current beliefs and expectations about future events, including market conditions, failure of customary closing conditions and the risk factors and other matters set forth in the Company’s filings with the SEC and other important factors that could cause actual results to differ materially from those projected.

Important Notice to UK and EU Investors

This announcement contains inside information for the purposes of Regulation (EU) No. 596/2014 on market abuse and the UK Version of Regulation (EU) No. 596/2014 on market abuse, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (together, “MAR”). In addition, market soundings (as defined in MAR) were taken in respect of the matters contained in this announcement, with the result that certain persons became aware of such inside information as permitted by MAR. Upon the publication of this announcement, the inside information is now considered to be in the public domain and such persons shall therefore cease to be in possession of inside information in relation to the Company and its securities.

Members of the public are not eligible to take part in the Offering. This announcement is directed at and is only being distributed to persons: (a) if in member states of the European Economic Area, “qualified investors” within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the “Prospectus Regulation“) (“Qualified Investors“); or (b) if in the United Kingdom, “qualified investors” within the meaning of Article 2(e) of the UK version of Regulation (EU) 2017/1129 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, who are (i) persons who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order“), or (ii) persons who fall within Article 49(2)(a) to (d) of the Order; or (c) persons to whom they may otherwise lawfully be communicated (each such person above, a “Relevant Person“). No other person should act or rely on this announcement and persons distributing this announcement must satisfy themselves that it is lawful to do so. This announcement must not be acted on or relied on by persons who are not Relevant Persons, if in the United Kingdom, or Qualified Investors, if in a member state of the EEA. Any investment or investment activity to which this announcement or the Offering relates is available only to Relevant Persons, if in the United Kingdom, and Qualified Investors, if in a member state of the EEA, and will be engaged in only with Relevant Persons, if in the United Kingdom, and Qualified Investors, if in a member state of the EEA.

No offering document or prospectus will be available in any jurisdiction in connection with the matters contained or referred to in this announcement in the United Kingdom and no such offering document or prospectus is required (in accordance with the Prospectus Regulation or UK Prospectus Regulation) to be published. The Company will publish a prospectus in connection with Admission as required under the UK Prospectus Regulation in due course.

Neither the content of the Company’s website (or any other website) nor the content of any website accessible from hyperlinks on the Company’s website (or any other website) is incorporated into, or forms part of, this announcement.

The Company has consulted with a number of existing shareholders and other investors ahead of the release of this announcement, including regarding the rationale for the offering. Consistent with each of its prior offerings, the Company will respect the principles of pre-emption, so far as is possible, through the allocation process, in the Offering.

The MIL Network –

February 20, 2025

MIL-OSI United Kingdom: New members appointed to Disabled Persons Transport Advisory Committee
Source: United Kingdom – Executive Government & Departments

DPTAC has an important role to play in our ambition to have an inclusive transport network allowing disabled people to travel easily and with dignity.
Transport Minister appoints new members to committee

membership will help remove barriers to transport accessibility, supporting the government’s inclusivity goals

the new appointees bring experience in disability academia, policy and transport accessibility

Local Transport Minister Simon Lightwood has today (19 February 2025) announced the appointment of 13 new members to the Disabled Persons Transport Advisory Committee (DPTAC).

The independent committee provides advice to the Department for Transport (DfT) on the transport needs of disabled people – particularly on ministerial policy priorities and areas they think need urgent attention.

Their works helps DfT stand by its ambition to ensure transport is accessible for all, including keeping it at the heart of bus and rail reform, as well as the establishment of the Passenger Standards Authority.

Local Transport Minister, Simon Lightwood, said:

We are clear in our ambition to have an inclusive transport network so disabled people can travel easily confidently and with dignity. DPTAC has a key role in ensuring we develop policy that delivers this.

This unique committee has membership with broad understanding of the barriers faced by disabled people and it ensures those issues are understood right from the start of policy development.

The new members of DPTAC are:

Damian Joseph Bridgeman – prominent leader in public policy, disability advocacy, and corporate governance

Mark Cutter – Chair of Northern’s Accessibility User Group (NAUG) and the Rail Accessibility and Inclusion Forum for the North (RAIFN)

Carly Danesh Jones – autism advocate who has previously held advisory roles with Heathrow Airport and East Midlands Rail

Mary Doyle – coach who advises multinational companies on inclusivity and accessibility policy

Paul Finnegan – Chief Executive of suicide prevention charity Lighthouse

Dr Miro Griffiths – disability scholar at the University of Leeds

Prof Mari Martiskainen – Professor of Energy and Society at Science Policy Research Unit within the University of Sussex

Rachael Mole – consultant and advisor within accessibility and people management

Ruth Murran – english and drama teacher with life-long experience of global travel

Maral Nozratzadeh – postgraduate researcher at the University of Leeds School of Law

David Sindall – previously Head of Disability and Inclusion for the Association of Train Operating Companies for 12 years

Zamila Skingsley– former Cabinet Office Director

Edward Trewhella – Chief Executive at Driving Mobility

DPTAC has helped to inform DfT’s work to improve transport accessibility, including the Access For All programme which has made over 260 train stations accessible, as well as the Aviation Accessibility Task and Finish Group that was launched by DfT in November 2024.

It has also helped inform bus and coach policy, including the Public Service Vehicles (Accessible Information) Regulations 2023 that require operators of local bus and coach services to provide information on the route, direction of travel and each upcoming stop.

DPTAC chair, Matthew Campbell-Hill, said:

I am delighted to welcome our new DPTAC members, who bring a wealth of diverse experiences and expertise.

Their insights will be invaluable as we work together to remove barriers and improve accessibility across our transport network. By harnessing this collective knowledge, we can drive meaningful change and ensure that transport truly works for everyone.

Existing member Sue Sharp, the former Chief Executive Officer of the Royal Society for Blind Children, has also been appointed the group’s Deputy Chair.

Those appointed to DPTAC serve terms of 2 to 3 years.

Under the Transport Act 1985, DPTAC’s membership should have between 10 and 20 members, excluding its chair. These appointments bring DPTACs membership to a total of 17.

News desk enquiries

Media enquiries 0300 7777 878

Switchboard 0300 330 3000

Share this page

The following links open in a new tab

Share on Facebook (opens in new tab)

Share on Twitter (opens in new tab)

Updates to this page

Published 19 February 2025
MIL OSI United Kingdom –
February 20, 2025

Category: Transport

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Olaf Storbeck on 14 February 2025

February 19, 2025

Boost to Global Reporting of Clinical Data and Evidence-Based Research in Ayush with WHO 2025 Update to ICD-11A Significant Step toward Global Integration of Traditional Medicine: Secretary Ayush

TRIFED signs MoUs with Meesho, IFCA & Mahatma Gandhi Institute of Rural IndustrialisationThe collaboration to promote livelihood generation of tribal community

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Olaf Storbeck on 14 February 2025

Share this page

Updates to this page

Boost to Global Reporting of Clinical Data and Evidence-Based Research in Ayush with WHO 2025 Update to ICD-11

A Significant Step toward Global Integration of Traditional Medicine: Secretary Ayush

TRIFED signs MoUs with Meesho, IFCA & Mahatma Gandhi Institute of Rural Industrialisation

The collaboration to promote livelihood generation of tribal community