Category: Ukraine

  • MIL-OSI United Nations: Supercharging Clean Energy Will Repair Humankind’s Relationship with Climate, Fuel Economic Growth, Secretary-General Says, Noting $2 Trillion Invested in 2024

    Source: United Nations General Assembly and Security Council

    Following is UN Secretary-General António Guterres’ address on climate action “A Moment of Opportunity:  Supercharging the Clean Energy Age”, in New York today:

    The headlines are dominated by a world in trouble.  By conflict and climate chaos.  By rising human suffering.  By growing geopolitical divides.  But amidst the turmoil, another story is being written.  And its implications will be profound.

    Throughout history, energy has shaped the destiny of humankind — from mastering fire to harnessing steam to splitting the atom.  Now, we are on the cusp of a new era.  Fossil fuels are running out of road.  The sun is rising on a clean energy age.

    Just follow the money.  Two trillion dollars went into clean energy last year — that’s $800 billion more than fossil fuels and up almost 70 per cent in 10 years.  And new data released today from the International Renewable Energy Agency shows that solar — not so long ago four times the cost of fossil fuels — is now 41 per cent cheaper.  Offshore wind — 53 per cent. And over 90 per cent of new renewables worldwide produced electricity for less than the cheapest new fossil fuel alternative.

    This is not just a shift in power.  This is a shift in possibility.  Yes, in repairing our relationship with the climate.  Already, the carbon emissions saved by solar and wind globally are almost equivalent to what the whole European Union produces in a year.

    But this transformation is fundamentally about energy security and people’s security.  It’s about smart economics.  Decent jobs, public health, advancing the Sustainable Development Goals.  And delivering clean and affordable energy to everyone, everywhere.

    Today, we are releasing a special report with the support of UN agencies and partners — the International Energy Agency, the International Monetary Fund (IMF), International Renewable Energy Agency, the Organisation for Economic Cooperation and Development (OECD) and the World Bank.

    The report shows how far we have come in the decade since the Paris Agreement sparked a clean energy revolution.  And it highlights the vast benefits — and actions needed — to accelerate a just transition globally.

    Renewables already nearly match fossil fuels in global installed power capacity.  And that’s just the beginning.  Last year, almost all the new power capacity built came from renewables.  And every continent on Earth added more renewables capacity than fossil fuels.  The clean energy future is no longer a promise.  It’s a fact.  No government.  No industry. No special interest can stop it.

    Of course, the fossil fuel lobby of some fossil fuel companies will try — and we know the lengths to which they will go. But I have never been more confident that they will fail — because we have passed the point of no return.

    For three powerful reasons.  First, market economics.  For decades, emissions and economic growth rose together.  No more.  In many advanced economies, emissions have peaked, but growth continues.

    In 2023 alone, clean energy sectors drove 10 per cent of global gross domestic product (GDP) growth.  In India, 5 per cent.  The United States, 6 per cent.  China — a leader in the energy transition — 20 per cent.  And in the European Union, nearly 33 per cent.  And clean energy sector jobs now outnumber fossil fuel jobs — employing almost 35 million people worldwide.

    Even Texas — the heart of the American fossil fuel industry — now leads the United States in renewables.  Why?  Because it makes economic sense.

    And yet fossil fuels still enjoy a 9-to-1 advantage in consumption subsidies globally — a clear market distortion.  Add to that the unaccounted costs of climate damages on people and planet — and the distortion is even greater.

    Countries that cling to fossil fuels are not protecting their economies — they are sabotaging them.  Driving up costs.  Undermining competitiveness.  Locking in stranded assets.  And missing the greatest economic opportunity of the twenty-first century.

    Second — renewables are here to stay because they are the foundation of energy security and sovereignty. Let’s be clear:  The greatest threat to energy security today is in fossil fuels.  They leave economies and people at the mercy of price shocks, supply disruptions and geopolitical turmoil.  Just look at Russia’s invasion of Ukraine.  A war in Europe led to a global energy crisis.  Oil and gas prices soared.  Electricity and food bills followed.  In 2022 average households around the world saw energy costs jump 20 per cent.

    Modern and competitive economies need stable, affordable energy. Renewables offer both.  There are no price spikes for sunlight.  No embargoes on wind.  Renewables can put power — literally and figuratively — in the hands of people and governments.  And almost every nation has enough sun, wind, or water to become energy self-sufficient.  Renewables mean real energy security.  Real energy sovereignty.  And real freedom from fossil-fuel volatility.

    The third and final reason why there is no going back on renewables: Easy access.  You can’t build a coal plant in someone’s backyard.  But you can deliver solar panels to the most remote village on Earth.  Solar and wind can be deployed faster, cheaper and more flexibly than fossil fuels ever could.  And while nuclear will be part of the global energy mix, it can never fill the access gaps.

    All of this is a game changer for the hundreds of millions of people still living without electricity — most of them in Africa, a continent bursting with renewable potential. By 2040, Africa could generate 10 times more electricity than it needs — entirely from renewables.

    We are already seeing small-scale and off-grid renewable technologies lighting homes, and powering schools and businesses in remote areas.  And in places like Pakistan for example, people power is fuelling a solar surge — consumers are driving the clean energy boom.

    The energy transition is unstoppable.  But the transition is not yet fast enough or fair enough.  OECD countries and China account for 80 per cent of renewable power capacity installed worldwide.  Brazil and India make up nearly 10 per cent.  Africa — just 1.5 per cent.

    Meanwhile, the climate crisis is laying waste to lives and livelihoods.  Climate disasters in small island States have wiped out over 100 per cent of GDP.  In the United States, they are pushing insurance premiums through the roof.

    And the 1.5-degree limit is in unprecedented peril.  To keep it within reach, we must drastically speed up the reduction of emissions — and the reach of the clean energy transition.  With manufacturing capacity racing, prices plummeting, and COP30 [Thirtieth Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change] fast approaching…  This is our moment of opportunity.  We must seize it.  We can do so by taking action in six opportunity areas.

    First — by using new national climate plans to go all-out on the energy transition.  Too often, governments send mixed messages:  Bold renewable targets on one day.  New fossil fuel subsidies and expansions the next.

    The next national climate plans, or NDCs, are due in a matter of months.  They must bring clarity and certainty.  Group of Twenty (G20) countries must lead. They produce 80 per cent of global emissions.  The principle of common but differentiated responsibilities must apply but every country must do more.  Ahead of COP30 in Brazil this November, they must submit new plans.

    I invite leaders to present their new NDCs at an event I will host in September, during General Assembly High-level week.   These must: cover all emissions, across the entire economy; align with the 1.5-degree limit; integrate energy, climate and sustainable development priorities into one coherent vision; and deliver on global promises to double energy efficiency and triple renewables capacity by 2030, and to accelerate the transition away from fossil fuels.  These plans must be backed by long-term road maps for a just transition to net-zero energy systems — in line with global net-zero by 2050.

    And they must be underpinned by policies that show that the clean energy future is not just inevitable — but investable.  Policies that create clear regulations and a pipeline of projects.  That enhance public-private partnerships — unlocking capital and innovation.  That put a meaningful price on carbon.  And that end subsidies and international public finance for fossil fuels — as promised.

    Second, this is our moment of opportunity to build the energy systems of the twenty-first century.  The technology is moving ahead.  In just 15 years, the cost of battery storage systems for electricity grids has dropped over 90 per cent.

    But here’s the problem.  Investments in the right infrastructure are not keeping up.  For every dollar invested in renewable power, just 60 cents go to grids and storage.  That ratio should be one-to-one.

    We are building renewable power — but not connecting it fast enough.  There’s three times more renewable energy waiting to be plugged into grids than was added last year.  And fossil fuels still dominate the global total energy mix.

    We must act now and invest in the backbone of a clean energy future:  In modern, flexible and digital grids — including regional integration.  In a massive scale-up of energy storage.  In charging networks — to power the electric vehicle revolution.

    On the other hand, we need energy efficiency but also electrification — across buildings, transport and industry. This is how we unlock the full promise of renewables — and build energy systems that are clean, secure and fit for the future.

    Third, this is our moment of opportunity to meet the world’s surging energy demand sustainably.  More people are plugging in.  More cities are heating up — with soaring demand for cooling.  And more technologies — from AI to digital finance — are devouring electricity.  Governments must aim to meet all new electricity demand with renewables.

    AI can boost efficiency, innovation and resilience in energy systems.  And we must take profit in it.  But it is also energy hungry.  A typical AI data centre eats up as much electricity as 100,000 homes.  The largest ones will soon use 20 times that.  By 2030, data centres could consume as much electricity as all of Japan does today.

    This is not sustainable — unless we make it so.  And the technology sector must be out front.  Today I call on every major tech firm to power all data centres with 100 per cent renewables by 2030.

    And — along with other industries — they must use water sustainably in cooling systems.  The future is being built in the cloud.  It must be powered by the sun, the wind and the promise of a better world.

    Fourth, this is the moment of opportunity for a just energy transition. The clean energy that we must deliver must also deliver equity, dignity and opportunity for all.

    That means governments leading a just transition.  With support, education and training — for fossil fuel workers, young people, women, Indigenous Peoples and others — so that they can thrive in the new energy economy.  With stronger social protection — so no one is left behind.  And with international cooperation to help low-income countries that are highly-dependent on fossil fuels and struggling to make the shift.

    But justice doesn’t stop here.  The critical minerals that power the clean energy revolution are often found in countries that have long been exploited.  And today, we see history repeating.  Communities mistreated.  Rights trampled.  Environments trashed.  Nations stuck at the bottom of value chains — while others reap rewards.  And extractive models digging deeper holes of inequality and harm.  This must end.

    Developing countries can play a major role in diversifying sources of supply. The UN Panel on Critical Energy Transition Minerals has shown the way forward — with a path grounded in human rights, justice and equity.

    Today, I call on governments, businesses and civil society to work with us to deliver its recommendations.  Let’s build a future that is not only green — but just.  Not only fast — but fair.  Not only transformative — but inclusive.

    Fifth, we have a moment of opportunity to use trade and investment to supercharge the energy transition.  Clean energy needs more than ambition.  It needs access — to technologies, materials and manufacturing.

    But these are concentrated in just a few countries.  And global trade is fragmenting.

    Trade policy must support climate policy.  Countries committed to the new energy era must come together to ensure that trade and investment drive it forward.  By building diverse, secure and resilient supply chains.  By cutting tariffs on clean energy goods.  By unlocking investment and trade — including through South-South cooperation. And by modernizing outdated investment treaties — starting with Investor-State Dispute Settlement provisions.

    Today, fossil fuel interests are weaponizing these provisions to delay the transition, particularly in several developing countries.  Reform is urgent.  The race for the new must not be a race for the few.  It must be a relay — shared, inclusive and resilient.  Let’s make trade a tool for transformation.

    Sixth and finally, this is our moment of opportunity to unleash the full force of finance — driving investment to markets with massive potential.  Despite soaring demand and vast renewables potential — developing countries are being locked out of the energy transition.

    Africa is home to 60 per cent of the world’s best solar resources.  But it received just 2 per cent of global clean energy investment last year.  Zoom out, and the picture is just as stark.

    In the last decade, only 1 in every 5 clean energy dollars went to emerging and developing countries outside China.  To keep the 1.5-degree limit alive — and deliver universal energy access – annual clean energy investment in those countries must rise more than fivefold by 2030.

    That demands bold national policies.  And concrete international action to:  Reform the global financial architecture.  Drastically increase the lending capacity of multilateral development banks — making them bigger, bolder and better able to leverage massive amounts of private finance at reasonable costs.  And take effective action on debt relief — and scale up proven tools like debt for climate swaps.

    Today, developing countries pay outlandish sums for both debt and equity financing — in part because of outdated risk models, bias and broken assumptions that boost the cost of capital.  Credit ratings agencies and investors must modernize.

    We need a new approach to risk that reflects:  the promise of clean energy; the rising cost of climate chaos; and the danger of stranded fossil fuel assets.  I urge parties to unite to solve the complex challenges facing some developing countries in the energy transition — such as early retirement of coal plants.

    The fossil fuel age is flailing and failing.  We are in the dawn of a new energy era.  An era where cheap, clean, abundant energy powers a world rich in economic opportunity.  Where nations have the security of energy autonomy.  And the gift of power is a gift for all.

    That world is within reach.  But it won’t happen on its own.  Not fast enough.  Not fair enough.  It is up to us.  We have the tools to power the future for humanity.  Let’s make the most of them.  This is our moment of opportunity.

    MIL OSI United Nations News

  • MIL-OSI Russia: The Kremlin does not expect “miraculous breakthroughs” in the talks with Ukraine in Istanbul – D. Peskov

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    Moscow, July 22 /Xinhua/ — The draft memorandums on peace settlement handed over to each other by Russia and Ukraine should become the main topic of the third round of direct Russian-Ukrainian talks. Moscow does not expect any “miraculous” breakthroughs, any forecasts for achieving peace in Ukraine are currently impossible. This was stated at a briefing on Tuesday by the press secretary of the Russian president Dmitry Peskov.

    “The topic of the negotiations is quite complex: in addition to other issues, of course, it will be necessary to discuss those very draft memoranda that were exchanged during the second round,” D. Peskov pointed out.

    According to him, “of course, there is no reason to count on any breakthroughs from the category of miracles. It is unlikely that this is possible in the current situation.” The Kremlin representative emphasized that the Russian side intends to defend its interests and ensure their achievement.

    D. Peskov did not estimate the time frame for a possible agreement on a Ukrainian settlement, emphasizing that this depends on many factors.

    “I would not estimate potential timeframes at all. It depends on many factors, and now any forecasts will be wrong,” the press secretary of the Russian president said.

    Moscow proceeds from the fact that Kyiv has still not lifted the ban on negotiations with Russian President Vladimir Putin. “To be fair /it should be noted that/ this ban is still in effect. This is an obvious fact,” added D. Peskov.

    According to him, Moscow and Kyiv need to work a lot before discussing the prospects of a summit meeting. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News

  • MIL-OSI Russia: The Ukrainian delegation at the talks with the Russian Federation will be headed by the Secretary of the National Security and Defense Council

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    KYIV, July 22 (Xinhua) — Ukrainian President Volodymyr Zelensky announced on Tuesday on the X social network that the Ukrainian delegation at the new round of peace talks with Russia will be headed by newly appointed Secretary of the National Security and Defense Council Rustem Umerov.

    V. Zelensky added that, in addition to R. Umerov, the delegation will include representatives of Ukrainian intelligence, the Ministry of Foreign Affairs and the Office of the President of Ukraine.

    V. Zelensky especially emphasized that official Kyiv is ready to work as productively as possible to achieve the release of Ukrainians from Russian captivity, the return of Ukrainian children taken to the Russian Federation, an end to the loss of life, and the preparation of a meeting of the leaders of Ukraine and Russia to truly establish peace between the two countries.

    According to media reports, a new round of negotiations between delegations from Ukraine and Russia will take place in the coming days in Turkey.

    The previous meeting of representatives of the two states took place on June 2 in Istanbul. At the meeting, Kyiv and Moscow agreed to conduct a prisoner exchange according to the formula “all for all” for two categories of servicemen – seriously ill and those aged 18 to 25. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News

  • MIL-OSI Europe: United Nations – United States’ withdrawal from UNESCO (22.07.25)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    France regrets the United States’ decision to leave UNESCO, of which it is a founder member and a host country for its headquarters.

    Founded in 1946 to prevent conflicts through education, culture and tolerance, UNESCO helps maintain international peace and security. It embodies an effective multilateralism of action, focused on its missions to benefit populations, operating rehabilitation programmes in conflict zones, from Mosul in Iraq to Odessa in Ukraine.

    In this respect, France welcomes the reforms begun in 2018 by Director-General Audrey Azoulay, which have led to a stronger consensus within the organization.

    France supports UNESCO, which backs several of its priorities at international level, particularly access to education for all, the protection of endangered heritage, the protection of our oceans, the responsible development of artificial intelligence and the fight against anti-Semitism and hate speech.

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Multilateralism remains the best tool we have to meet the shared challenges of the 21st century: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Speech

    Multilateralism remains the best tool we have to meet the shared challenges of the 21st century: UK statement at the UN Security Council

    Statement by Lord Collins of Highbury, Minister for Africa and the UN, at the UN Security Council debate on peace and security.

    Mr President, the United Kingdom thanks Pakistan for convening this timely debate at a time when multilateralism faces unprecedented strain.

    As the Secretary-General has said, the world is witnessing more conflict than at any time since the founding of the United Nations.

    From Russia’s illegal invasion of Ukraine to the protracted crisis in Gaza, the international community is being tested.

    Our response must strive for peace and be guided by the principles of the UN Charter.
    Multilateralism remains the best tool we have to meet the shared challenges of the 21st century.

    And this Council, as the UN organ with the primary responsibility for international peace and security, should play a central role.

    That includes through a collective commitment to the rule of law, including international humanitarian law, and to the peaceful settlement of disputes.

    These are not abstract ideals.

    They are principles by which we could collectively prevent and resolve conflict.

    That is why the United Kingdom has kept these principles at the heart of its foreign policy.
    But as we mark the UN’s 80th anniversary, we must seize this moment to revitalise the peace and security architecture, champion human rights, and strengthen the UN development system and humanitarian architecture to ensure all three pillars are collectively fit for purpose.

    We should make full use of the UN’s mediation and conflict prevention capabilities.
    In Sudan, we continue to urge the warring parties to engage meaningfully with existing diplomatic initiatives, including the United Nations’ mediation efforts to achieve a lasting national ceasefire and political solution.

    Here and elsewhere, we need the UN to help address the root causes of conflict.
    Peace operations should be more adaptable, politically attuned and better coordinated with other UN and regional actors, leveraging new technologies and local expertise.
    We must focus not only on brokering peace but on sustaining it.

    The UN’s efforts to verify the implementation of the Peace Agreement in Colombia is a good example of this work in the field.

    And here in New York, we can make better use of the UN Peacebuilding Architecture to support national efforts to sustain peace.

    Underscoring this, we must recall that crucially, sustainable peace can only be achieved through inclusive peace processes, with the full, equal, meaningful and safe participation of women.

    Mr President, the UN Charter is our shared foundation.

    In this moment of global uncertainty, we must recommit to multilateralism, not as a slogan, but as a strategy.

    The United Kingdom stands ready to work with all Member States to this end, including to uphold peace, security, and the rule of law.

    Thank you.

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom

  • MIL-OSI United Nations: UN’s Guterres declares fossil fuel era fading; presses nations for new climate plans before COP30 summit

    Source: United Nations 2

    In a special address at UN Headquarters in New York, Mr. Guterres cited surging clean energy investment and plunging solar and wind costs that now outcompete fossil fuels.

    The energy transition is unstoppable, but the transition is not yet fast enough or fair enough,” he said.

    The speech, A Moment of Opportunity: Supercharging the Clean Energy Age – a follow‑up to last year’s Moment of Truth – was delivered alongside a new UN technical report drawing on global energy and finance bodies.

    “Just follow the money,” Mr. Guterres said, noting that $2 trillion flowed into clean energy last year, $800 billion more than fossil fuels and up almost 70 per cent in a decade.

    Key points from the address

    • Point of no return – The world has irreversibly shifted towards renewables, with fossil fuels entering their decline
    • Clean energy surge – $2 trillion invested in clean energy last year, $800 billion more than fossil fuels
    • Cost revolution – Solar now 41 per cent cheaper and offshore wind 53 per cent cheaper than fossil fuel alternatives.
    • Global challenge – Calls on G20 nations to align new national climate plans with the 1.5°C target of the Paris Agreement
    • Energy security – Renewables ensure “real energy sovereignty”
    • Six opportunity areas – Climate plan ambition, modern grids, sustainable demand, just transition, trade reform, and finance for emerging markets.

    A shift in possibility

    He noted new data from the International Renewable Energy Agency (IRENA) showing solar, once four times costlier, is now 41 per cent cheaper than fossil fuels.

    Similarly, offshore wind is 53 per cent cheaper, with more than 90 per cent of new renewables worldwide beating the cheapest new fossil alternative.

    This is not just a shift in power. It is a shift in possibility,” he said.

    Renewables nearly match fossil fuels in global installed power capacity, and “almost all the new power capacity built” last year came from renewables, he said, noting that every continent added more clean power than fossil fuels.

    Clean energy is unstoppable

    Mr. Guterres underscored that a clean energy future “is no longer a promise, it is a fact”. No government, no industry and no special interest can stop it.

    Of course, the fossil fuel lobby will try, and we know the lengths to which they will go. But, I have never been more confident that they will fail because we have passed the point of no return.

    He urged countries to lock ambition into the next round of national climate plans, or NDCs, due within months. Mr. Guterres called on the G20 countries, which are responsible for 80 per cent of emissions, to submit new plans aligned with the 1.5°C limit and present them at a high‑level event in September.

    Targets, he added, must “double energy efficiency and triple renewables capacity by 2030” while accelerating “the transition away from fossil fuels”.

    Real energy sovereignty

    The Secretary-General also highlighted the geopolitical risks of fossil fuel dependence.

    “The greatest threat to energy security today is fossil fuels,” he said, citing price shocks after Russia’s invasion of Ukraine.

    There are no price spikes for sunlight, no embargoes on wind. Renewables mean real energy security, real energy sovereignty and real freedom from fossil-fuel volatility.

    Six opportunity areas

    Mr. Guterres mapped six “opportunity areas” to speed the transition: ambitious NDCs, modern grids and storage, meeting soaring demand sustainably, a just transition for workers and communities, trade reforms to broaden clean‑tech supply chains, and mobilising finance to emerging markets.

    Financing, however, is the choke point. Africa, home to 60 per cent of the world’s best solar resources, received just 2 per cent of global clean energy investment last year, he said.

    Only one in five clean energy dollars over the past decade went to emerging and developing economies outside China. Flows must rise more than five-fold by 2030 to keep the 1.5-degree limit alive and deliver universal access.

    Mr. Guterres urged reform of global finance, stronger multilateral development banks and debt relief, including debt‑for‑climate swaps.

    The fossil fuel age is flailing and failing. We are in the dawn of a new energy era,” he said in closing.

    That world is within reach, but it won’t happen on its own. Not fast enough. Not fair enough. It is up to us. This is our moment of opportunity.

    MIL OSI United Nations News

  • MIL-OSI Europe: Eurojust helps catch alleged author of threatening emails to schools in Czechia, Slovakia and Latvia

    Source: European Union 2

    Eurojust has assisted the authorities in the Czech Republic, Slovakia and Latvia with the apprehension of the alleged perpetrator who was responsible for sending thousands of emails in September last year threatening schools with explosions. The mass threats, which were also sent to other educational institutions and leisure centres, caused major public concern and led to the suspension of classes at the beginning of the school year.

    Eurojust supported the national authorities involved by setting up a joint investigation team (JIT) dedicated to the case, as well as providing additional cross-border judicial support.

    The alleged perpetrator also used the social network Telegram to spread his threats. He was apprehended in the Ukrainian city of Dnipro last week but was released pending potential further steps to be taken by the authorities.

    © Dnipropetrovsk Regional Prosecutor’s Office

    Given the mass scale of the threats at the same time across three countries, the police authorities involved coordinated their investigations, assisted by the setting up of the JIT. The joint investigative efforts, using the cybercrime expertise of the police, led to the identification of an alleged perpetrator, operating from the Ukrainian city of Dnipro.

    With the participation of Czech and Slovak police officers, a joint action took place in Dnipro last week, during which the alleged perpetrator was apprehended and one individual was questioned. Furthermore, two locations were searched, which led to the seizure of computer equipment.

    Thanks to the good and close cooperation of all the authorities concerned, the operation was successfully carried out under extremely difficult circumstances, very close to the frontline of the war in Ukraine, with Ukrainian, Czech and Slovak officers exposed to heavy risks.

    Eurojust offered support not only through the establishment of the JIT but also by organising a coordination meeting to prepare for the joint action day in Ukraine. The operation was carried out at the request of and by the following authorities:

    • Czech Republic: High Public Prosecutor’s Office in Prague; National Counterterrorism, Extremism and Cybercrime Agency (NCTEKK)
    • Latvia: Rīga Pārdaugava Prosecution Office; 1st Unit of Cybercrime Enforcement Department of the Central Criminal Police Department of the State Police
    • Slovakia: General Prosecutor´s Office of the Slovak Republic; Police Department West, Anti-Crime Unit, Bureau for Combating Organized Crime of the Presidium of the Police Corps (Police ACU); Counter Terrorism Centre, Presidium of the Police Corps
    • Ukraine: Dnipropetrovsk regional Prosecutor’s Office; Main Department of National Police in Dnipropetrovsk region; Division for Combating Cybercrime in Dnipropetrovsk region of the Cyber Police Department of National Police of Ukraine

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Modernised aid budget will focus on impact, value for money and transparency

    Source: United Kingdom – Executive Government & Departments 3

    Press release

    Modernised aid budget will focus on impact, value for money and transparency

    New aid funding figures published today show how the international aid budget will deliver value for money for the British taxpayer – and maximum impact for the most vulnerable overseas.

    • New figures released today (Tuesday, 22 July) set out how the government will spend the aid budget in 2025/2026, prioritising areas where Britain can make the biggest difference. 

    • The new approach means the UK will prioritise spending through the most impactful multilateral organisations like the World Bank and Gavi, the vaccine alliance, while working to drive reform of these institutions. 

    • Development Minister Baroness Chapman today confirms UK support for the World Bank’s International Development Association – with the fund expected to benefit 1.9 billion people in next three years.

    New aid funding figures published today (Tuesday, 22 July 2025) show how the international aid budget will deliver value for money for the British taxpayer – and maximum impact for the most vulnerable overseas. The cut in the aid budget to 0.3% of Gross National Income from 2027 means every penny must count if the UK is to make progress on its biggest development priorities: to tackle humanitarian, health and climate crises.

    Today’s aid figures, published in the FCDO’s annual report and the first to be released since the cut was announced in February, give an indication of the new approach the Development Minister Baroness Chapman will take. They follow a comprehensive line-by-line strategic review of aid conducted by the Minister, which focused on prioritisation, efficiency, protecting planned humanitarian support and live contracts while ensuring responsible exit from programming where necessary. 

    The pivot will see global organisations with a proven track record of impact, like the World Bank and Gavi, prioritised to deliver better results for the UK taxpayer and the world’s poorest people.  

    The UK will also continue to play a key humanitarian role supporting those in crisis, including in Gaza, Ukraine and Sudan, and will hold a reserve fund to respond to future crises at pace.

    However, underperforming multilateral organisations will face funding cuts in future, and as the UK moves to spend less on aid, bilateral support to some countries is also dropping.  

    While bilateral support for some countries will drop, the UK will instead increasingly share expertise, like that of our world leading scientists and financial sector. It will focus on tackling the climate crisis, health threats and humanitarian emergencies, creating stability and growth to help deliver the Plan for Change at home. The National Security Strategy published earlier this year said British interests are best served through effective multilateral cooperation.

    As part of its growing support for impactful multilateral organisations, the UK today confirmed it will honour a pledge to the International Development Association (IDA) – the World Bank’s fund for the poorest countries – having agreed a new way to make payments that reduces costs to UK taxpayers and provides the same value to the Bank. IDA is expected to benefit 1.9 billion people in the next three years.

    Minister for Development Baroness Chapman said: 

    We are modernising our approach to international development. Every pound must work harder for UK taxpayers and the people we help around the world and these figures show how we are starting to do just that through having a clear focus and priorities. 

    The UK is moving towards a new relationship with developing countries, becoming partners and investors, rather than acting as a traditional aid donor. We want to work with countries and share our expertise – from world leading science to the City of London – to help them become no longer dependent on aid, and organisations like the World Bank and Gavi are central to how we can work with others to solve some of the biggest challenges of our time: humanitarian disasters, pandemics and the climate crisis.

    The UK’s support for the multilateral system will come with a renewed push for its reform to maximise efficiency and impact for people on the ground.  It follows UK funding announced for another multilateral organisation Gavi, the vaccine alliance, last month, which will help save up to 8 million lives. 

    The World Bank support was originally announced last November, but all UK aid funding was subsequently reviewed following the 0.3% announcement in February this year. Every £1 the UK invests in the World Bank’s IDA fund, enables £4 of finance for developing countries. The IDA fund is expected to benefit 1.9 billion people in next three years.

    The World Bank President Ajay Banga today welcomed the UK’s funding commitment. He said:

    We are grateful to the United Kingdom for honouring its pledge to IDA. In a time of tight budgets and growing global risks, this is not just generosity – it’s strategy. Every taxpayer pound is multiplied many times over through the Bank’s ability to mobilise capital and partner with the private sector.

    These resources help create jobs in developing countries – jobs that build self-reliant economies, reduce the drivers of instability, crime, and migration, and grow the middle class. In turn, they create future consumers of UK products and investment opportunities that strengthen the UK economy over the long term.

    The UK’s new approach aligns with recent calls from Global South leaders for a move away from traditional aid to a focus on investment and partnerships, including from the African Development Bank, and the former Kenyan President. 

    Alongside the figures released today, the government has also published an Equality Impact Assessment which found plans to reduce the aid budget will “protect against disproportionate impacts on equalities” overall.

    The government will publish indicative multi-year allocations for 2026-2029 in the autumn, providing an even clearer picture of the UK’s future direction in international development. 

    Background:

    1. The full ODA spending allocations were published in the FCDO’s Annual Report and Accounts on GOV.UK on Tuesday, July 22, 2025. See here for further details: FCDO Annual Report and Accounts 2024 to 2025- GOV.UK
    2. The Equality Impact Assessment was published alongside the Annual Report and Accounts: FCDO Official Development Assistance programme allocations 2025 to 2026: equality impact assessment – GOV.UK
    3. The UK announced last November it would pledge £1.98 billion to the World Bank’s IDA21 – from July 2025 to June 2028. All UK aid funding was subsequently reviewed following the decision to reduce the aid budget in February. We have now agreed to accelerate our payments to the Bank, reducing their need to borrow from markets. This means that while the UK will provide the Bank with around 10% less cash in total, the Bank will regard our contribution as equivalent to our original pledge. A number of other donors accelerate their payments to provide early support to the Bank and to increase the value of their funding in the same way. 
    4. The Foreign Secretary announced new humanitarian support for Gaza on Monday, July 21, 20225. See here for further details: UK pledges lifesaving aid for Gaza – GOV.UK

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Email the FCDO Newsdesk (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 22 July 2025

    MIL OSI United Kingdom

  • MIL-OSI United Nations: Secretary-General’s remarks to the Security Council – on Multilateralism and Peaceful Settlement of Disputes [bilingual as delivered; scroll down for all-English and all-French versions]

    Source: United Nations secretary general

    Mr. President, Excellencies,                                                       

    I want to thank Deputy Prime Minister and Foreign Minister Ishaq Dar and Pakistan for convening today’s open debate.

    The topic of today’s debate shines a light on the clear connection between international peace and multilateralism.

    Eighty years ago, the United Nations was founded with a primary purpose — to safeguard humanity from the scourge of war.

    The architects of the United Nations Charter recognized that the peaceful resolution of disputes is the lifeline when geopolitical tensions escalate… when unresolved disputes fuel the flames of conflict…and when states lose trust in each other.

    The Charter lays out a number of important tools to forge peace.

    Article 2.3 of the UN Charter is clear:

    “All Members shall settle their international disputes by peaceful means in such a manner that international peace and security, and justice, are not endangered.”

    Chapter VI of the Charter is equally clear on the specific responsibilities of this Council to help ensure the pacific settlement of disputes “by negotiation, enquiry, mediation, conciliation, arbitration, judicial settlement, resort to regional agencies or arrangements, or other peaceful means of their own choice.”

    Action 16 of the Pact of the Future calls on Member States to recommit to all the mechanisms of preventive diplomacy and the peaceful settlement of disputes.

    I commend Pakistan for utilizing its presidency to put forward a resolution urging all Member States to make full use of these tools in our collective pursuit of global peace.

    This is needed now more than ever.

    Around the world, we see an utter disregard for — if not outright violations of — international law — including international human rights law, international refugee law, international humanitarian law, and the UN Charter itself, without any accountability.

    These failures to uphold international obligations are coming at a time of widening geopolitical divides and conflicts. 

    And the cost is staggering — measured in human lives, shattered communities, and lost futures.

    We need look no further than the horror show in Gaza — with a level of death and destruction without parallel in recent times.

    Malnourishment is soaring.  Starvation is knocking on every door. 

    And now we are seeing the last gasp of a humanitarian system built on humanitarian principles.

    That system is being denied the conditions to function.  Denied the space to deliver.  Denied the safety to save lives.

    With Israeli military operations intensifying and new displacement orders issued in Deir al-Balah, devastation is being layered upon devastation. 

    I am appalled that UN premises have been struck – among them facilities of the UN Office for Project Services and the World Health Organization, including WHO’s main warehouse.

    This is despite all parties having been informed of the locations of these UN facilities.

    These premises are inviolable and must be protected under international humanitarian law – without exception.  

    From Gaza to Ukraine, from the Sahel to Sudan, Haiti and Myanmar, and many other parts of the world, conflict is raging, international law is being trampled, and hunger and displacement are at record levels.

    And terrorism, violent extremism and transnational crime remain persistent scourges pushing security further out of reach.  

    Diplomacy may not have always succeeded in preventing conflicts, violence and instability.

    But it still holds the power to stop them.

    Mr. President,

    Peace is a choice.

    And the world expects the UN Security Council to help countries make this choice.   

    This Council is at the centre of the global architecture for peace and security.  

    Its creation reflected a central truth.

    Competition between states is a geopolitical reality.  

    But cooperation — anchored in shared interests and the greater good — is the sustainable pathway to peace.

    Too often, we see divisions, entrenched positions and escalatory discourse blocking solutions and the effectiveness of the Council.

    But we have also seen some inspiring examples of finding common ground and forging solutions to global problems.

    For example, today marks three years since the signing of the Black Sea Initiative and the Memorandum of Understanding with the Russian Federation — efforts that show what we can achieve through mediation and the good offices of the United Nations, even during the most challenging moments.

    And we’ve seen many other recent examples.

    From the Sevilla Conference on Financing for Development, to the Oceans Conference in Nice, to the Agreement on Marine Biological Diversity of Areas Beyond National Jurisdiction and the Cybercrime Treaty, to the Pact for the Future adopted last year. 

    The Pact, in particular, demonstrates a clear re-commitment by the world to strengthen the United Nations collective security system.

    Drawing from the New Agenda for Peace, it prioritizes preventive diplomacy and mediation — all areas where this Council can play a vital role.

    As we look to the theme of today’s debate, I see three areas where we can live up to the Pact’s call to renew our commitment to — and the world’s faith in — the multilateral problem-solving architecture.

    First — this Council’s members, in particular its permanent members, must continue working to overcome divisions.

    The majority of situations on the Security Council’s agenda are complex and resist quick fixes.
    But even in the darkest days of the Cold War, the collective dialogue and decision-making in this Council underpinned a common and effective system of global security.

    One that successfully deployed a range of peacekeeping missions.

    One that opened the door for vital humanitarian aid to flow to people in need.

    And one that helped prevent a Third World War.

    I urge you to summon this same spirit by keeping channels open, continuing to listen in good faith, and working to overcome differences and building consensus.

    We must also work to ensure that this Council reflects the world of today, not the world of 80 years ago.

    This Council should be made more representative of today’s geopolitical realities.

    And we must continue improving the working methods of this Council to make it more inclusive, transparent, efficient and accountable.

    I urge you to continue building consensus to move the intergovernmental negotiations forward.

    Second — this Council must continue strengthening cooperation with regional and subregional partners.

    The landmark adoption of Security Council Resolution 2719 supporting African Union-led peace support operations through assessed contributions is a good example of how we can join efforts with regional organizations to support more effective responses.

    I also commend this Council’s steps to strengthen and re-build regional security frameworks to encourage dialogue and advance the peaceful settlement of disputes.

    Troisièmement, les États Membres doivent honorer leurs obligations en vertu du droit international, y compris la Charte des Nations Unies, le droit international des droits humains et le droit international humanitaire.

    Le Pacte pour l’avenir appelle tous les États Membres à respecter leurs engagements envers la Charte, ainsi que les principes de respect de la souveraineté, de l’intégrité territoriale et de l’indépendance politique des États.

    Tous ces principes sont ancrés dans le droit international et reposent sur l’engagement de donner la priorité à la prévention des conflits et au règlement pacifique des différends par le dialogue et la diplomatie.

    Le Pacte reconnaît également la contribution essentielle de la Cour internationale de Justice, qui fêtera son 80ème anniversaire l’année prochaine.

    Monsieur le Président,

    À l’occasion du 80ème anniversaire de notre Organisation et de la Charte qui lui a donné vie et forme, nous devons renouveler notre engagement envers l’esprit multilatéral de la paix par la diplomatie.

    Je me réjouis de travailler avec vous en ce sens, afin de parvenir à la paix et la sécurité internationales que les peuples du monde entier espèrent et méritent.

    Je vous remercie.

    [all-English]

    Mr. President, Excellencies,                                                       

    I want to thank Deputy Prime Minister and Foreign Minister Ishaq Dar and Pakistan for convening today’s open debate.

    The topic of today’s debate shines a light on the clear connection between international peace and multilateralism.

    Eighty years ago, the United Nations was founded with a primary purpose — to safeguard humanity from the scourge of war.

    The architects of the United Nations Charter recognized that the peaceful resolution of disputes is the lifeline when geopolitical tensions escalate… when unresolved disputes fuel the flames of conflict…and when states lose trust in each other.

    The Charter lays out a number of important tools to forge peace.

    Article 2.3 of the UN Charter is clear:

    “All Members shall settle their international disputes by peaceful means in such a manner that international peace and security, and justice, are not endangered.”

    Chapter VI of the Charter is equally clear on the specific responsibilities of this Council to help ensure the pacific settlement of disputes “by negotiation, enquiry, mediation, conciliation, arbitration, judicial settlement, resort to regional agencies or arrangements, or other peaceful means of their own choice.”

    Action 16 of the Pact of the Future calls on Member States to recommit to all the mechanisms of preventive diplomacy and the peaceful settlement of disputes.

    I commend Pakistan for utilizing its presidency to put forward a resolution urging all Member States to make full use of these tools in our collective pursuit of global peace.

    This is needed now more than ever.

    Around the world, we see an utter disregard for — if not outright violations of — international law — including international human rights law, international refugee law, international humanitarian law, and the UN Charter itself, without any accountability.

    These failures to uphold international obligations are coming at a time of widening geopolitical divides and conflicts. 

    And the cost is staggering — measured in human lives, shattered communities, and lost futures.

    We need look no further than the horror show in Gaza — with a level of death and destruction without parallel in recent times.

    Malnourishment is soaring.  Starvation is knocking on every door. 

    And now we are seeing the last gasp of a humanitarian system built on humanitarian principles.

    That system is being denied the conditions to function.  Denied the space to deliver.  Denied the safety to save lives.

    With Israeli military operations intensifying and new displacement orders issued in Deir al-Balah, devastation is being layered upon devastation.

    I am appalled that UN premises have been struck – among them facilities of the UN Office for Project Services and the World Health Organization, including WHO’s main warehouse.

    This is despite all parties having been informed of the locations of these UN facilities.

    These premises are inviolable and must be protected under international humanitarian law – without exception.    

    From Gaza to Ukraine, from the Sahel to Sudan, Haiti and Myanmar, and many other parts of the world, conflict is raging, international law is being trampled, and hunger and displacement are at record levels.

    And terrorism, violent extremism and transnational crime remain persistent scourges pushing security further out of reach.  
    Diplomacy may not have always succeeded in preventing conflicts, violence and instability.

    But it still holds the power to stop them.

    Mr. President,

    Peace is a choice.

    And the world expects the UN Security Council to help countries make this choice.   

    This Council is at the centre of the global architecture for peace and security.  

    Its creation reflected a central truth.
    Competition between states is a geopolitical reality.  

    But cooperation — anchored in shared interests and the greater good — is the  sustainable pathway to peace.

    Too often, we see divisions, entrenched positions and escalatory discourse blocking solutions and the effectiveness of the Council.

    But we have also seen some inspiring examples of finding common ground and forging solutions to global problems.

    For example, today marks three years since the signing of the Black Sea Initiative and the Memorandum of Understanding with the Russian Federation — efforts that show what we can achieve through mediation and the good offices of the United Nations, even during the most challenging moments.

    And we’ve seen many other recent examples.

    From the Sevilla Conference on Financing for Development, to the Oceans Conference in Nice, to the Agreement on Marine Biological Diversity of Areas Beyond National Jurisdiction and the Cybercrime Treaty, to the Pact for the Future adopted last year. 

    The Pact, in particular, demonstrates a clear re-commitment by the world to strengthen the United Nations collective security system.

    Drawing from the New Agenda for Peace, it prioritizes preventive diplomacy and mediation — all areas where this Council can play a vital role.

    As we look to the theme of today’s debate, I see three areas where we can live up to the Pact’s call to renew our commitment to — and the world’s faith in — the multilateral problem-solving architecture.

    First — this Council’s members, in particular its permanent members, must continue working to overcome divisions.

    The majority of situations on the Security Council’s agenda are complex and resist quick fixes.

    But even in the darkest days of the Cold War, the collective dialogue and decision-making in this Council underpinned a common and effective system of global security.

    One that successfully deployed a range of peacekeeping missions.

    One that opened the door for vital humanitarian aid to flow to people in need.

    And one that helped prevent a Third World War.

    I urge you to summon this same spirit by keeping channels open, continuing to listen in good faith, and working to overcome differences and building consensus.

    We must also work to ensure that this Council reflects the world of today, not the world of 80 years ago.

    This Council should be made more representative of today’s geopolitical realities.

    And we must continue improving the working methods of this Council to make it more inclusive, transparent, efficient and accountable.

    I urge you to continue building consensus to move the intergovernmental negotiations forward.

    Second — this Council must continue strengthening cooperation with regional and subregional partners.

    The landmark adoption of Security Council Resolution 2719 supporting African Union-led peace support operations through assessed contributions is a good example of how we can join efforts with regional organizations to support more effective responses.

    I also commend this Council’s steps to strengthen and re-build regional security frameworks to encourage dialogue and advance the peaceful settlement of disputes.

    And third — Member States must honour their obligations under international law, including the UN Charter, international human rights law and international humanitarian law.

    The Pact for the Future calls on all Member States to live up to their commitments in the UN Charter, and the principles of respect for sovereignty, territorial integrity and the political independence of states.

    All grounded in international law, and a commitment to prioritizing prevention of conflict and the peaceful settlement of disputes through dialogue and diplomacy.

    The Pact also recognized the critical contribution of the International Court of Justice, which celebrates its 80th anniversary next year.

    Mr. President,    

    As we mark the 80th anniversary of our organization and the Charter that gave it life and shape, we need to renew our commitment to the multilateral spirit of peace through diplomacy.

    I look forward to working with you in this important effort, to achieve the international peace and security the people of the world need and deserve.

    Thank you.

    [all-French]

    Monsieur le Président, Excellences,

    Je tiens à remercier le Vice-Premier Ministre et Ministre des affaires étrangères Ishaq Dar et le Pakistan d’avoir organisé le débat public de ce jour.

    Le thème de ce débat met en lumière le lien évident qui existe entre la paix internationale et le multilatéralisme.

    Il y a 80 ans, l’Organisation des Nations Unies a été fondée dans le but premier de préserver l’humanité du fléau de la guerre.

    Les architectes de la Charte des Nations Unies ont considéré que le règlement pacifique des différends était la seule issue possible lorsque les tensions géopolitiques s’intensifiaient, lorsque des différends non résolus attisaient les conflits et lorsque les États perdaient confiance les uns dans les autres.

    La Charte renferme un certain nombre d’outils majeurs destinés à forger la paix.

    Son Article 2.3 est clair :

    « Les Membres de l’Organisation règlent leurs différends internationaux par des moyens pacifiques, de telle manière que la paix et la sécurité internationales ainsi que la justice ne soient pas mises en danger ».

    Son Chapitre VI est tout aussi clair en ce qui concerne les responsabilités confiées au Conseil de sécurité, qui doit contribuer à assurer le règlement pacifique des différends « par voie de négociation, d’enquête, de médiation, de conciliation, d’arbitrage, de règlement judiciaire, de recours aux organismes ou accords régionaux, ou par d’autres moyens pacifiques » du choix des parties.

    La mesure 16 du Pacte pour l’avenir appelle les États Membres à démontrer leur attachement à la diplomatie préventive et au règlement pacifique des différends en recourant davantage à tous les mécanismes existants en la matière.

    Je félicite le Pakistan d’avoir mis à profit sa présidence pour présenter une résolution exhortant tous les États Membres à utiliser pleinement les outils en question dans le cadre de notre quête collective de la paix dans le monde.

    Nous en avons besoin plus que jamais.

    Partout dans le monde, nous observons un mépris total pour le droit international – voire des violations pures et simples de ce droit, notamment du droit international des droits humains, du droit international des réfugiés, du droit international humanitaire et de la Charte des Nations Unies elle-même –, sans que la responsabilité de quiconque ne soit engagée.

    Ces manquements aux obligations internationales surviennent à un moment où les divisions et les conflits géopolitiques s’aggravent.

    Et le coût – en vies humaines, en communautés brisées et en avenirs perdus – est accablant.

    Il suffit de regarder l’horreur qui se déroule à Gaza, avec un niveau de mort et de destruction sans équivalent dans l’histoire récente.

    La malnutrition explose.  La famine frappe à toutes les portes. 

    Et maintenant, nous assistons à l’agonie d’un système humanitaire fondé sur des principes humanitaires.

    Ce système se voit refuser les conditions nécessaires à son fonctionnement.  On lui refuse l’espace nécessaire pour agir.  On lui refuse la sécurité nécessaire pour sauver des vies.

    Alors que les opérations militaires israéliennes s’intensifient et que de nouveaux ordres de déplacement sont émis à Deir al-Balah, la dévastation s’ajoute à la dévastation.

    Je suis consterné que des locaux de l’ONU aient été touchés, notamment ceux du Bureau des Nations Unies pour les services d’appui aux projets et de l’Organisation mondiale de la Santé, y compris son entrepôt principal.

    Ceci alors que toutes les parties ont été informées de l’emplacement de ces installations de l’ONU.

    Ces locaux sont inviolables et doivent être protégés par le droit international humanitaire, sans exception.

    De Gaza à l’Ukraine, du Sahel au Soudan, de Haïti au Myanmar, et dans bien d’autres régions du monde, les conflits font rage, le droit international est bafoué, et la faim et les déplacements atteignent des niveaux record.

    Et le terrorisme, l’extrémisme violent et la criminalité transnationale restent des fléaux tenaces qui rendent la sécurité encore plus inaccessible.

    La diplomatie ne permet pas toujours de prévenir les conflits, la violence et l’instabilité.

    Mais elle a toujours le pouvoir de les arrêter.

    Monsieur le Président,

    La paix est un choix.

    Et le monde attend du Conseil de sécurité de l’Organisation qu’il aide les pays à faire ce choix.

    Ce Conseil est au cœur de l’architecture mondiale pour la paix et la sécurité.

    Sa création reposait sur une vérité fondamentale.

    La rivalité entre les États est une réalité géopolitique.

    Mais la coopération – ancrée dans des intérêts partagés et le bien commun – représente la voie durable vers la paix.

    Nous observons trop fréquemment que les divisions, les positions tranchées et la surenchère verbale bloquent la mise en place de solutions et sape l’efficacité de ce Conseil.

    Mais nous avons également observé des exemples admirables de cas où il a été possible de trouver un terrain d’entente et des solutions aux problèmes mondiaux.

    Ainsi, nous marquons aujourd’hui le troisième anniversaire de la signature de l’Initiative de la mer Noire et du mémorandum d’accord avec la Fédération de Russie – des mesures qui montrent ce que nous pouvons accomplir grâce à la médiation et aux bons offices de l’ONU, y compris dans les moments les plus difficiles.

    Et plus récemment, nous avons été témoins de bien d’autres exemples.

    De la Conférence de Séville sur le financement du développement à la Conférence de Nice sur l’océan, en passant par l’Accord sur la diversité biologique marine des zones ne relevant pas de la juridiction nationale, la Convention sur la cybercriminalité et le Pacte pour l’avenir, adopté l’année dernière.

    Le Pacte, en particulier, témoigne d’une claire volonté du monde de s’engager de nouveau à renforcer le système de sécurité collective des Nations Unies.

    Inspiré du Nouvel Agenda pour la paix, il donne la priorité à la diplomatie préventive et à la médiation, autant de domaines dans lesquels le Conseil peut jouer un rôle essentiel.

    En ce qui concerne le thème du débat qui nous réunit aujourd’hui, il y a selon moi trois domaines dans lesquels nous pouvons nous montrer à la hauteur de l’appel, contenu dans le Pacte, à renouveler notre engagement – et la confiance du monde – envers l’architecture multilatérale dont nous disposons pour régler les problèmes.

    Premièrement, les membres de ce Conseil, en particulier les membres permanents, doivent continuer à s’efforcer de surmonter les dissensions.

    La majorité des situations inscrites à l’ordre du jour du Conseil de sécurité sont complexes et ne se prêtent pas à des solutions rapides.

    Mais même dans les jours les plus sombres de la guerre froide, le dialogue et la prise de décision collective au sein de ce Conseil ont permis de maintenir un système de la sécurité mondiale commun et efficace.

    Un système qui a déployé avec succès toute une série de missions de maintien de la paix.

    Un système qui a ouvert la voie à l’acheminement d’une aide humanitaire vitale aux personnes dans le besoin.

    Et un système qui a permis d’éviter une troisième guerre mondiale.

    Je vous exhorte à adopter le même état d’esprit en maintenant la communication, en continuant d’écouter de bonne foi, en vous employant à surmonter les divergences et à rechercher le consensus.

    Nous devons également veiller à ce que ce Conseil soit à l’image du monde d’aujourd’hui, et non de celui d’il y a 80 ans.

    Ce Conseil devrait être plus représentatif des réalités géopolitiques actuelles.

    Et nous devons continuer de perfectionner ses méthodes de travail afin de le rendre plus inclusif, plus transparent, plus efficace, et plus responsable.

    Je vous demande instamment de continuer d’œuvrer à la recherche du consensus pour faire avancer les négociations intergouvernementales.

    Deuxièmement, ce Conseil doit continuer de renforcer la coopération avec les partenaires régionaux et sous-régionaux.

    L’adoption historique de la résolution 2719 du Conseil de sécurité, visant à financer les opérations d’appui à la paix menées par l’Union africaine au moyen de contributions statutaires, est un bon exemple de la manière dont nous pouvons unir nos forces à celles des organisations régionales pour favoriser la mise en place de mesures plus efficaces.

    Je salue également les mesures prises par ce Conseil pour renforcer et rebâtir les cadres de sécurité régionaux afin d’encourager le dialogue et de favoriser le règlement pacifique des différends.

    Troisièmement, les États Membres doivent honorer leurs obligations en vertu du droit international, y compris la Charte des Nations Unies, le droit international des droits humains et le droit international humanitaire.

    Le Pacte pour l’avenir appelle tous les États Membres à respecter leurs engagements envers la Charte, ainsi que les principes de respect de la souveraineté, de l’intégrité territoriale et de l’indépendance politique des États.

    Tous ces principes sont ancrés dans le droit international et reposent sur l’engagement de donner la priorité à la prévention des conflits et au règlement pacifique des différends par le dialogue et la diplomatie.

    Le Pacte reconnaît également la contribution essentielle de la Cour internationale de Justice, qui fêtera son 80ème anniversaire l’année prochaine.

    Monsieur le Président,

    À l’occasion du 80ème anniversaire de notre Organisation et de la Charte qui lui a donné vie et forme, nous devons renouveler notre engagement envers l’esprit multilatéral de la paix par la diplomatie.

    Je me réjouis de travailler avec vous en ce sens, afin de parvenir à la paix et la sécurité internationales que les peuples du monde entier espèrent et méritent.

    Je vous remercie.

    MIL OSI United Nations News

  • MIL-OSI United Nations: Secretary-General’s remarks on Climate Action “A Moment of Opportunity: Supercharging the Clean Energy Age” [as delivered; scroll down for All-French]

    Source: United Nations secretary general

    Excellencies,

    Ladies and gentlemen,

    Friends joining us from around the world,  

    The headlines are dominated by a world in trouble. 

    By conflict and climate chaos.

    By rising human suffering.

    By growing geo-political divides.

    But amidst the turmoil, another story is being written.

    And its implications will be profound.

    Throughout history, energy has shaped the destiny of humankind – from mastering
    fire, to harnessing steam, to splitting the atom.

    Now, we are on the cusp of a new era. 

    Fossil fuels are running out of road.

    The sun is rising on a clean energy age.

    Just follow the money.

    $2 trillion went into clean energy last year – that’s $800 billion more than fossil fuels, and up almost 70% in ten years.

    And new data released today from the International Renewable Energy Agency shows that solar – not so long ago four times the cost of fossil fuels – is now 41% cheaper.

    Offshore wind – 53%.

    And over 90% of new renewables worldwide produced electricity for less than the cheapest new fossil fuel alternative.

    This is not just a shift in power.  This is a shift in possibility.

    Yes, in repairing our relationship with the climate.

    Already, the carbon emissions saved by solar and wind globally are almost equivalent to what the whole European Union produces in a year.

    But this transformation is fundamentally about energy security and people’s security.

    It’s about smart economics.

    Decent jobs, public health, advancing the Sustainable Development Goals. 

    And delivering clean and affordable energy to everyone, everywhere.

    Today, we are releasing a special report with the support of UN agencies and partners — the International Energy Agency, the IMF, IRENA, the OECD and the World Bank.

    The report shows how far we have come in the decade since the Paris Agreement sparked a clean energy revolution.  And it highlights the vast benefits – and actions needed – to accelerate a just transition globally.

    Renewables already nearly match fossil fuels in global installed power capacity.

    And that’s just the beginning. 

    Last year, almost all the new power capacity built came from renewables. 

    And every continent on Earth added more renewables capacity than fossil fuels.

    The clean energy future is no longer a promise.  It’s a fact. 

    No government.  No industry.  No special interest can stop it. 

    Of course, the fossil fuel lobby of some fossil fuel companies will try – and we know the lengths to which they will go.

    But I have never been more confident that they will fail – because we have passed the point of no return.  

    For three powerful reasons. 

    First, market economics.

    For decades, emissions and economic growth rose together.

    No more.

    In many advanced economies, emissions have peaked, but growth continues.

    In 2023 alone, clean energy sectors drove 10% of global GDP growth.

    In India, 5%.  The United States, 6%. China – a leader in the energy transition – 20%.

    And in the European Union, nearly 33%.

    And clean energy sector jobs now outnumber fossil fuel jobs – employing almost 35 million people worldwide.

    Even Texas – the heart of the American fossil fuel industry – now leads the US in renewables.

    Why?  Because it makes economic sense.

    And yet fossil fuels still enjoy a 9 to 1 advantage in consumption subsidies globally – a clear market distortion. 

    Add to that the unaccounted costs of climate damages on people and planet – and the distortion is even greater.

    Countries that cling to fossil fuels are not protecting their economies – they are sabotaging them.

    Driving up costs.

    Undermining competitiveness.

    Locking-in stranded assets.

    And missing the greatest economic opportunity of the 21st century.

    Excellencies,
    Dear friends,

    Second — renewables are here to stay because they are the foundation of energy security and sovereignty.

    Let’s be clear:  The greatest threat to energy security today is in fossil fuels.

    They leave economies and people at the mercy of price shocks, supply disruptions, and geopolitical turmoil. 

    Just look at Russia’s invasion of Ukraine.  

    A war in Europe led to a global energy crisis.

    Oil and gas prices soared.

    Electricity and food bills followed.
     
    In 2022 average households around the world saw energy costs jump 20%. 

    Modern and competitive economies need stable, affordable energy.  Renewables offer both.

    There are no price spikes for sunlight.

    No embargoes on wind.

    Renewables can put power – literally and figuratively – in the hands of people and governments.

    And almost every nation has enough sun, wind, or water to become energy self-sufficient.

    Renewables mean real energy security.  Real energy sovereignty. And real freedom from fossil-fuel volatility.

    Dear friends,

    The third and final reason why there is no going back on renewables:  Easy access.

    You can’t build a coal plant in someone’s backyard.

    But you can deliver solar panels to the most remote village on earth.

    Solar and wind can be deployed faster, cheaper and more flexibly than fossil fuels ever could.

    And while nuclear will be part of the global energy mix, it can never fill the access gaps.

    All of this is a game-changer for the hundreds of millions of people still living without electricity – most of them in Africa, a continent bursting with renewable potential.

    By 2040, Africa could generate 10 times more electricity than it needs – entirely from renewables.   

    We are already seeing small-scale and off-grid renewable technologies lighting homes, and powering schools and businesses in remote areas.

    And in places like Pakistan for example, people-power is fueling a solar surge – consumers are driving the clean energy boom. 

    Excellencies,
    Dear friends,

    The energy transition is unstoppable.

    But the transition is not yet fast enough or fair enough. 

    OECD countries and China account for 80% of renewable power capacity installed worldwide.

    Brazil and India make up nearly 10%.

    Africa — just 1.5%.

    Meanwhile, the climate crisis is laying waste to lives and livelihoods.

    Climate disasters in small island states have wiped out over 100% of GDP. 

    In the United States, they are pushing insurance premiums through the roof. 

    And the 1.5 degree limit is in unprecedented peril.

    To keep it within reach, we must drastically speed up the reduction of emissions – and the reach of the clean energy transition.

    With manufacturing capacity racing, prices plummeting, and COP30 fast approaching…

    This is our moment of opportunity.

    We must seize it.

    We can do so by taking action in six opportunity areas.  

    First – by using new national climate plans to go all-out on the energy transition. 

    Too often, governments send mixed messages:

    Bold renewable targets on one day.  New fossil fuel subsidies and expansions the next. 

    The next national climate plans, or NDCs, are due in a matter of months.

    They must bring clarity and certainty.

    G20 countries must lead.  They produce 80% of global emissions. 

    The principle of common but differentiated responsibilities must apply but every country must do more.

    Ahead of COP30 in Brazil this November, they must submit new plans.

    I invite leaders to present their new NDCs at an event I will host in September, during General Assembly High-level week. These must:

    Cover all emissions, across the entire economy.

    Align with the 1.5 degree limit.

    Integrate energy, climate and sustainable development priorities into one coherent vision.

    And deliver on global promises:

    To double energy efficiency and triple renewables capacity by 2030.

    And to accelerate the transition away from fossil fuels.

    These plans must be backed by long-term roadmaps for a just transition to net-zero energy systems – in line with global net-zero by 2050.

    And they must be underpinned by policies that show that the clean energy future is not just inevitable – but investable. 

    Policies that create clear regulations and a pipeline of projects.

    That enhance public-private partnerships – unlocking capital and innovation.

    That put a meaningful price on carbon.

    And that end subsidies and international public finance for fossil fuels – as promised. 

    Second, this is our moment of opportunity to build the energy systems of the 21st century. 

    The technology is moving ahead.   

    In just fifteen years, the cost of battery storage systems for electricity grids has dropped over 90%. 

    But here’s the problem. 

    Investments in the right infrastructure are not keeping up. 

    For every dollar invested in renewable power, just 60 cents go to grids and storage. 

    That ratio should be one-to-one. 

    We are building renewable power – but not connecting it fast enough.

    There’s three times more renewable energy waiting to be plugged into grids than was added last year.

    And fossil fuels still dominate the global total energy mix.

    We must act now and invest in the backbone of a clean energy future:

    In modern, flexible and digital grids – including regional integration.

    In a massive scale-up of energy storage.

    In charging networks – to power the electric vehicle revolution.

    On the other hand we need energy efficiency but also  electrification — across buildings, transport and industry.

    This is how we unlock the full promise of renewables – and build energy systems that are clean, secure and fit for the future.

    Third, this is our moment of opportunity to meet the world’s surging energy demand sustainably.

    More people are plugging in.

    More cities are heating up – with soaring demand for cooling.

    And more technologies – from AI to digital finance – are devouring electricity.

    Governments must aim to meet all new electricity demand with renewables.

    AI can boost efficiency, innovation, and resilience in energy systems. And we must take profit in it.

    But it is also energy-hungry.

    A typical AI data-center eats-up as much electricity as 100,000 homes.

    The largest ones will soon use twenty times that. 

    By 2030, data centres could consume as much electricity as all of Japan does today.

    This is not sustainable – unless we make it so.

    And the technology sector must be out front.

    Today I call on every major tech firm to power all data centres with 100% renewables by 2030.

    And – along with other industries – they must use water sustainably in cooling systems.

    The future is being built in the cloud.

    It must be powered by the sun, the wind, and the promise of a better world.  

    Excellencies
    Dear friends,

    Fourth, this is the moment of opportunity for a just energy transition.

    The clean energy that we must deliver  must also deliver equity, dignity and opportunity for all.

    That means governments leading a just transition.

    With support, education and training – for fossil fuel workers, young people, women, Indigenous Peoples and others – so that they can thrive in the new energy economy.

    With stronger social protection – so no one is left behind. 

    And with international cooperation to help low-income countries that are highly-dependent on fossil fuels and struggling to make the shift.

    But justice doesn’t stop here.

    The critical minerals that power the clean energy revolution are often found in countries that have long been exploited.

    And today, we see history repeating. 

    Communities mistreated.

    Rights trampled.

    Environments trashed.

    Nations stuck at the bottom of value chains – while others reap rewards.

    And extractive models digging deeper holes of inequality and harm.

    This must end.

    Developing countries can play a major role in diversifying sources of supply. 

    The UN Panel on Critical Energy Transition Minerals has shown the way forward – with a path grounded in human rights, justice and equity.

    Today, I call on governments, businesses and civil society to work with us to deliver its recommendations.

    Let’s build a future that is not only green – but just.

    Not only fast – but fair. 

    Not only transformative – but inclusive.

    Fifth, we have a moment of opportunity to use trade and investment to supercharge the energy transition.

    Clean energy needs more than ambition.

    It needs access – to technologies, materials, and manufacturing.

    But these are concentrated in just a few countries.

    And global trade is fragmenting.

    Trade policy must support climate policy.

    Countries committed to the new energy era must come together to ensure that trade and investment drive it forward.

    By building diverse, secure, and resilient supply chains.

    By cutting tariffs on clean energy goods.

    By unlocking investment and trade – including through South-South cooperation.

    And by modernizing outdated investment treaties – starting with Investor-State Dispute Settlement provisions.

    Today, fossil fuel interests are weaponizing these provisions to delay the transition, particularly in several developing countries.

    Reform is urgent.

    The race for the new must not be a race for the few.

    It must be a relay – shared, inclusive and resilient.

    Let’s make trade a tool for transformation. 

    Sixth and finally, this is our moment of opportunity to unleash the full force of finance – driving investment to markets with massive potential.

    Despite soaring demand and vast renewables potential — developing countries are being locked out of the energy transition.

    Africa is home to 60% of the world’s best solar resources.  But it received just 2% of global clean energy investment last year.

    Zoom out, and the picture is just as stark. 

    In the last decade, only one in every five clean energy dollars went to emerging and developing countries outside China.

    To keep the 1.5 degree limit alive — and deliver universal energy access – annual clean energy investment in those countries must rise more than fivefold by 2030. 

    That demands bold national policies.  And concrete international action to: 

    Reform the global financial architecture.

    Drastically increase the lending capacity of multilateral development banks — making them bigger, bolder, and better able to leverage massive amounts of private finance at reasonable costs;

    And take effective action on debt relief – and scale up proven tools like debt for climate swaps. 

    Today, developing countries pay outlandish sums for both debt and equity financing – in part because of outdated risk models, bias and broken assumptions that boost the cost of capital.

    Credit ratings agencies and investors must modernize.
     
    We need a new approach to risk that reflects:

    The promise of clean energy.

    The rising cost of climate chaos.

    And the danger of stranded fossil fuel assets.

    I urge parties to unite to solve the complex challenges facing some developing countries in the energy transition – such as early retirement of coal plants. 

    Excellencies,
    Dear friends,

    The fossil fuel age is flailing and failing.

    We are in the dawn of a new energy era.

    An era where cheap, clean, abundant energy powers a world rich in economic opportunity.

    Where nations have the security of energy autonomy.

    And the gift of power is a gift for all.

    That world is within reach.

    But it won’t happen on its own.

    Not fast enough.

    Not fair enough.

    It is up to us. 

    We have the tools to power the future for humanity.   

    Let’s make the most of them. 

    This is our moment of opportunity. 

    And I Thank you.

                                                                                                                                                                                                  ****
    [All-French]

    Excellences,

    Mesdames et Messieurs,

    Chers amis présents avec nous depuis le monde entier,

    L’actualité est dominée par les maux de la planète.

    Par les conflits et le chaos climatique.

    Par la multiplication des souffrances humaines.

    Par des dissensions géopolitiques croissantes.

    Mais au milieu de cette tourmente, autre chose est en train de se jouer.

    Quelque chose qui aura de profondes répercussions.

    Tout au long de l’histoire, l’énergie a présidé aux destinées de l’humanité
    – du feu à l’atome, en passant par la vapeur.

    Aujourd’hui, nous entrons dans une ère nouvelle.

    Les énergies fossiles sont en bout de course.

    Nous sommes à l’aube d’une ère des énergies propres.

    Il suffit d’observer les flux financiers.

    L’année dernière, 2 000 milliards de dollars ont été investis dans les énergies propres : c’est 800 milliards de dollars de plus que pour les énergies fossiles et cela représente une hausse de près de 70 % en 10 ans.

    Et de nouvelles données publiées aujourd’hui par l’Agence internationale pour les énergies renouvelables montrent que l’énergie solaire, qui était quatre fois plus chère que les énergies fossiles il y a peu de temps encore, est aujourd’hui 41 % moins chère.

    L’éolien en mer – 53 % moins cher.

    Et le coût de l’électricité produite par plus de 90 % des nouvelles énergies renouvelables dans le monde est inférieur au coût du nouveau combustible fossile le moins cher.

    C’est un tournant. Non seulement sur le plan énergétique, mais aussi du point de vue des possibilités qui s’offrent à nous.

    Car oui, nous pouvons assainir notre rapport au climat.

    Les énergies solaire et éolienne permettent d’ores et déjà d’économiser au niveau mondial une quantité d’émissions de carbone presque équivalente à l’ensemble des émissions annuelles de l’Union européenne.

    Mais plus fondamentalement, il y va de la sécurité énergétique et de la sécurité des personnes.

    De la gestion avisée de l’économie.

    Des emplois décents, de la santé publique et de la réalisation des objectifs de développement durable.

    Et de la capacité de mettre à la disposition des populations du monde entier une énergie propre et abordable.

    Aujourd’hui, nous publions un rapport spécial avec le soutien d’organismes des Nations Unies et d’organisations partenaires – l’Agence internationale de l’énergie, le Fonds monétaire international, l’Agence internationale pour les énergies renouvelables, l’Organisation de coopération et de développement économiques et la Banque mondiale.

    Ce rapport illustre le chemin parcouru au cours de la décennie écoulée, depuis que l’Accord de Paris a ouvert la voie à une révolution de l’énergie propre. Il montre que nous avons beaucoup à gagner d’une transition rapide et juste à l’échelle mondiale, pour peu que nous prenions les mesures voulues.

    Au niveau mondial, la puissance installée des énergies renouvelables est déjà presque comparable à celle des énergies fossiles.

    Et ce n’est qu’un début.

    L’année dernière, la quasi-totalité de l’énergie fournie par les nouvelles capacités de production était renouvelable.

    Sur tous les continents, on a créé plus de capacités de production d’énergie provenant de sources renouvelables que provenant de combustibles fossiles.

    Les sources d’énergie renouvelable ont généré près d’un tiers de l’électricité mondiale.

    L’énergie propre n’est plus une promesse d’avenir. C’est une réalité.

    Aucun gouvernement, aucune industrie, aucun intérêt particulier ne saurait l’arrêter.

    Bien entendu, le lobby des combustibles fossiles de certaines entreprises s’y emploiera, et nous savons jusqu’où il peut aller.

    Mais – j’en ai désormais la certitude – tous ses efforts sont voués à l’échec, car il est trop tard pour revenir en arrière.

    Il y a trois raisons de poids à cela.

    Premièrement, les marchés.

    Pendant des décennies, l’augmentation des émissions est allée de pair avec celle de la croissance économique.

    Ce n’est plus le cas.

    Dans de nombreuses économies avancées, les émissions plafonnent, mais l’économie continue de croître.

    Rien qu’en 2023, le secteur de l’énergie propre a contribué à hauteur de 10 % à la croissance du PIB mondial.

    En Inde, 5 %. Aux États-Unis, 6 %. En Chine – l’un des leaders de la transition énergétique –, 20 %.

    Et dans l’Union européenne, près de 33 %.

    Et le secteur des énergies propres emploie désormais 35 millions de personnes dans le monde, soit plus que le secteur des énergies fossiles.

    Même le Texas, cœur de l’industrie fossile américaine, est aujourd’hui le premier producteur d’énergies renouvelables aux États-Unis.

    Pourquoi ? Parce que c’est une question de bon sens économique.

    Et ce, en dépit d’une distorsion manifeste du marché au profit des énergies fossiles, qui bénéficient de subventions à la consommation neuf fois plus importantes que les renouvelables au niveau mondial.

    Si l’on ajoute à cela le coût non comptabilisé des dommages subis par les populations et la planète à cause des changements climatiques, la distorsion est encore plus marquée.

    Les pays qui s’accrochent aux énergies fossiles ne protègent pas leur économie, ils la sabotent.

    Ils poussent les coûts à la hausse.

    Ils freinent leur compétitivité.

    Ils se condamnent à avoir des actifs bloqués.

    Et ils passent à côté de la plus grande promesse économique du XXIe siècle.

    Excellences, Chers amis,

    En deuxième lieu, les énergies renouvelables sont promises à un bel avenir, car elles sont au cœur de la sécurité et de la souveraineté énergétiques.

    Disons-le clairement : les combustibles fossiles constituent aujourd’hui la plus grande menace pour la sécurité énergétique.

    Ils laissent les économies et les populations à la merci des variations de prix, des ruptures d’approvisionnement et des turbulences géopolitiques.

    C’est ce que l’on a vu lors de l’invasion de l’Ukraine par la Russie.

    Une guerre en Europe a entraîné une crise énergétique mondiale.

    Les cours du pétrole et du gaz ont grimpé en flèche.

    Et les factures d’électricité et les dépenses alimentaires leur ont emboîté le pas.
     
    En 2022, les ménages ont vu leurs dépenses énergétiques augmenter de 20 % en moyenne dans le monde.

    Les économies modernes et compétitives ont besoin d’un approvisionnement énergétique stable, à un prix abordable. Les énergies renouvelables permettent d’avoir les deux.

    La lumière du soleil n’est pas sujette aux flambées de prix.

    Le vent ne peut être soumis à aucun embargo.

    En leur fournissant de l’électricité, les énergies renouvelables peuvent mettre le pouvoir entre les mains des citoyens et des États.

    Or, presque tous les pays ont suffisamment de soleil, de vent ou d’eau pour devenir autosuffisants sur le plan énergétique.

    Les énergies renouvelables sont la solution pour une véritable sécurité énergétique. Une véritable souveraineté énergétique. Et une véritable protection contre la volatilité associée aux combustibles fossiles.

    Chers amis,

    Troisième et dernière raison pour laquelle les énergies renouvelables sont désormais incontournables : la facilité d’accès.

    On ne peut pas construire une centrale à charbon au fond d’un jardin.

    Mais on peut installer des panneaux solaires dans le village le plus isolé de la planète.

    Le solaire et l’éolien peuvent être déployés plus rapidement, plus facilement, et pour moins cher que les énergies fossiles ne pourront jamais l’être.

    Et bien que le nucléaire soit amené à faire partie du bouquet énergétique mondial, il ne pourra jamais résorber les inégalités d’accès.

    Tout cela change la donne pour les centaines de millions de personnes qui vivent encore sans électricité, pour la plupart en Afrique, continent qui regorge de sources d’énergies renouvelables inexploitées.

    À l’horizon 2040, l’Afrique pourrait avoir une production d’électricité 10 fois supérieure à ses besoins, uniquement grâce au renouvelable.

    Déjà, des dispositifs autonomes de production d’énergie renouvelable à petite échelle servent à éclairer des maisons et à alimenter des écoles et des entreprises dans les zones reculées.

    Et dans des pays comme le Pakistan, le solaire s’impose grâce à l’impulsion des citoyens : ce sont les consommateurs qui sont à l’origine du boom des énergies propres.

    Excellences, Chers amis,

    Rien ne peut arrêter la transition énergétique.

    Mais cette transition n’est encore ni assez rapide ni assez équitable.

    Les pays de l’OCDE et la Chine représentent 80 % de la capacité de production d’énergie renouvelable installée dans le monde.

    Le Brésil et l’Inde, près de 10 %.

    L’Afrique, seulement 1,5 %.

    Pendant ce temps, des vies et des moyens de subsistance sont anéantis par la crise climatique.

    Dans certains petits États insulaires, les catastrophes climatiques ont coûté plus de 100 % du PIB.

    Aux États-Unis, elles font exploser les primes d’assurance.

    Et la limite de 1,5 degré devient plus que jamais un vœu pieux.

    Pour que cet objectif reste à notre portée, nous devons au plus vite réduire les émissions et étendre l’envergure de la transition vers les énergies propres.

    Les capacités de production se multiplient, les prix chutent et la COP30 approche à grands pas.

    Nous nous trouvons donc à un moment décisif.

    Ne le laissons pas passer.

    Le moment est venu d’agir dans six domaines porteurs.

    Premièrement, nous devons saisir l’occasion de faire des nouveaux plans climatiques nationaux le moteur d’une transition énergétique irréversible.

    Trop souvent, les gouvernements envoient des messages contradictoires :

    Un jour, des objectifs ambitieux en matière d’énergies renouvelables. Le lendemain, de nouvelles subventions aux combustibles fossiles et des mesures qui favorisent leur expansion.

    Les prochains plans d’action nationaux sur le climat – également connus sous le nom de contributions déterminées au niveau national – doivent être présentés dans quelques mois.

    Ils devront être source de clarté et de certitude.

    Les pays du G20 doivent être à la manœuvre. Ils sont responsables de 80 % des émissions mondiales.

    Le principe des responsabilités communes mais différenciées doit être appliqué, mais tous les pays doivent redoubler d’effort.

    En prévision de la COP30, qui se tiendra au Brésil en novembre, ils doivent présenter de nouveaux plans.

    J’invite les dirigeants à présenter leurs nouvelles contributions déterminées au niveau national lors d’une manifestation que j’organiserai en septembre, durant la semaine de haut niveau de l’Assemblée générale. Ces contributions devront :

    Couvrir toutes les émissions, dans tous les secteurs de l’économie.

    Ne pas dépasser la limite de 1,5 degré.

    Se fonder sur une approche cohérente intégrant les priorités liées à l’énergie, au climat et au développement durable.

    Et tenir les promesses qui ont été faites au niveau mondial, à savoir :

    Multiplier par deux l’efficacité énergétique et par trois les capacités en énergies renouvelables d’ici à 2030.

    Et accélérer l’abandon progressif des combustibles fossiles.

    Ces plans devront être assortis de feuilles de route à long terme permettant d’assurer une transition équitable vers des systèmes énergétiques à zéro émission nette, conformément à l’objectif fixé pour 2050.

    Et ils doivent s’accompagner de politiques qui montrent qu’un avenir alimenté par des énergies propres est inéluctable et mérite d’être soutenu par des investissements.

    Des politiques qui instaurent un cadre réglementaire clair et favorisent l’émergence d’un vivier de projets.

    Qui renforcent les partenariats public-privé en mobilisant des capitaux et en stimulant l’innovation.

    Qui assurent la tarification effective du carbone.

    Et qui marquent la fin des subventions et des financements publics internationaux destinés aux combustibles fossiles – comme promis.

    Deuxièmement, nous devons saisir l’occasion de bâtir les systèmes énergétiques du XXIe siècle.

    La technologie progresse.

    En l’espace de quinze ans seulement, le coût des systèmes de stockage par batterie pour réseaux électriques a chuté de plus de 90 %.

    Mais il y a un problème.

    Les investissements dans les infrastructures nécessaires ne suivent pas.

    Pour chaque dollar investi dans les énergies renouvelables, 0,6 dollar seulement est consacré aux réseaux et au stockage.

    Le rapport devrait être d’un pour un.

    Nous produisons de l’énergie renouvelable, mais nous ne l’intégrons pas assez vite aux réseaux.

    La quantité d’énergie renouvelable en attente de raccordement est trois fois supérieure à celle effectivement mise en service l’an dernier.

    Et le bouquet énergétique mondial reste dominé par les combustibles fossiles.

    Nous devons agir dès maintenant et investir dans l’architecture d’un avenir placé sous le signe des énergies propres.

    Dans des réseaux modernes, souples et informatisés – ainsi que dans l’intégration régionale.

    Dans une augmentation massive de la capacité de stockage d’énergie.

    Dans les réseaux de recharge – pour alimenter la révolution des véhicules électriques.

    D’un autre côté, nous avons besoin l’efficacité énergétique et l’électrification dans les secteurs du bâtiment, des transports et de l’industrie.

    C’est ainsi que nous tirerons pleinement parti des possibilités offertes par les énergies renouvelables et que nous bâtirons des systèmes propres, sûrs et adaptés au monde de demain.

    Troisièmement, nous devons saisir l’occasion de répondre durablement à l’augmentation de la demande énergétique mondiale.

    De plus en plus de personnes sont raccordées aux réseaux.

    De plus en plus de villes se réchauffent, ce qui entraîne une hausse de la demande de climatisation.

    Et de plus en plus de technologies – de l’intelligence artificielle à la finance numérique – consomment une quantité d’électricité colossale.

    Pour répondre à l’augmentation de la demande d’électricité, les gouvernements doivent privilégier le renouvelable.

    L’intelligence artificielle peut rendre les systèmes énergétiques plus efficaces, plus innovants et plus résilients.

    Mais elle est aussi extrêmement énergivore.

    Un centre de données IA typique engloutit autant d’électricité que 100 000 foyers.

    Bientôt, les plus grands centres consommeront 20 fois plus.

    D’ici à 2030, ils pourraient utiliser autant d’électricité que l’ensemble de la population japonaise actuelle.

    Cette situation n’est pas viable – et c’est à nous d’y remédier.

    Le secteur de la technologie doit montrer la voie.

    Aujourd’hui, je demande à toutes les grandes entreprises technologiques de faire en sorte que tous leurs centres de données fonctionnent aux énergies renouvelables d’ici à 2030.

    Elles doivent également veiller – tout comme d’autres secteurs – à utiliser durablement l’eau nécessaire aux systèmes de refroidissement.

    L’avenir se construit dans le nuage.

    Il doit être alimenté par le soleil, le vent et la promesse d’un monde meilleur.

    Excellences, Chers amis,

    Quatrièmement, nous devons saisir l’occasion d’assurer une transition énergétique juste.

    L’ère de l’énergie propre doit garantir l’équité et la dignité et ouvrir de nouvelles perspectives pour l’humanité tout entière.

    Cela signifie que les gouvernements doivent prendre les rênes d’une transition juste.

    En assurant l’accompagnement, l’éducation et la formation des personnes qui travaillent pour l’industrie fossile, des jeunes, des femmes, des peuples autochtones et d’autres, afin qu’ils puissent prospérer dans une économie reposant sur les énergies nouvelles.

    En assurant une meilleure protection sociale pour que personne ne soit laissé pour compte.

    Et en renforçant la coopération internationale en vue d’aider les pays à faible revenu qui sont largement tributaires des combustibles fossiles et pour lesquels la transition est difficile.

    Mais la justice ne se limite pas à cela.

    Les minéraux critiques qui alimentent la révolution des énergies propres se trouvent souvent dans des pays qui ont longtemps été exploités.

    Aujourd’hui, nous voyons l’histoire se répéter.

    Des populations malmenées.

    Leurs droits bafoués.

    Leur environnement saccagé.

    Des nations reléguées aux échelons inférieurs des chaînes de valeur, tandis que d’autres en accaparent le produit.

    Et des modèles d’extraction qui creusent encore les inégalités et amplifient les dégradations.

    Il faut que cela cesse.

    Les pays en développement peuvent jouer un rôle majeur dans la diversification des sources d’approvisionnement.

    Le Groupe chargé de la question des minéraux critiques pour la transition énergétique a défini une trajectoire ancrée dans le respect des droits humains, de la justice et de l’équité.

    Aujourd’hui, je demande aux gouvernements, aux entreprises et à la société civile de se joindre à nous pour mettre en œuvre ses recommandations.

    Bâtissons un avenir qui soit respectueux de l’environnement et fondé sur l’équité.

    Qui advienne rapidement et soit guidé par le principe de justice.

    Qui soit porteur de transformation et favorise l’inclusion.

    Cinquièmement, nous devons saisir l’occasion de mettre le commerce et l’investissement au service de l’accélération de la transition énergétique.

    L’ambition seule ne suffira pas à assurer le passage à une énergie propre.

    Il faut aussi des technologies, des matériaux et des minéraux critiques.

    Mais ces éléments sont concentrés dans quelques pays seulement.

    Et le commerce mondial se fragmente.

    La politique commerciale doit soutenir l’action climatique.

    Les pays mobilisés en faveur d’une nouvelle ère énergétique doivent unir leurs forces pour lui donner corps grâce au commerce et à l’investissement.

    En diversifiant les chaînes d’approvisionnement et en les rendant plus sûres et plus résilientes.

    En abaissant les droits de douane sur les biens nécessaires à la production d’énergie propre.

    En débloquant les investissements et en renforçant les échanges, notamment dans le cadre de la coopération Sud-Sud.

    Et en actualisant des traités d’investissement dépassés, à commencer par les dispositions relatives au règlement des différends entre investisseurs et États.

    À l’heure actuelle, le secteur des combustibles fossiles instrumentalise ces dispositions pour retarder la transition, en particulier dans plusieurs des pays en développement.

    Une réforme s’impose d’urgence.

    La course à l’innovation ne doit pas être réservée à une minorité privilégiée.

    Il doit s’agir d’une course de relais – collective, inclusive et source de résilience.

    Faisons du commerce un outil de transformation.

    Sixièmement, nous devons saisir l’occasion d’exploiter toute la puissance de la finance en dirigeant les investissements vers des marchés à très fort potentiel.

    Malgré une demande en forte hausse et un potentiel indéniable en matière d’énergies renouvelables, les pays en développement sont exclus de la transition énergétique.

    L’Afrique abrite 60 % des meilleures ressources solaires au monde. Mais elle n’a comptabilisé que 2 % des investissements mondiaux dans les énergies propres au cours de l’année écoulée.

    En élargissant le cadre, on obtient un tableau tout aussi alarmant.

    Au cours des dix dernières années, seul un dollar sur cinq consacré à l’énergie propre est allé à des pays émergents ou en développement autres que la Chine.

    Si nous voulons contenir le réchauffement à 1,5 degré et assurer un accès universel à l’énergie, les investissements annuels dans les énergies propres doivent être multipliés par plus de cinq dans ces pays d’ici à 2030.

    Cela exige de prendre des mesures audacieuses à l’échelon national, mais aussi de mener une action concrète au niveau mondial pour :

    Réformer l’architecture financière internationale.

    Renforcer considérablement la capacité de prêt des banques multilatérales de développement, afin qu’elles gagnent en envergure et en audace et soient plus à même de canaliser des flux massifs de capitaux privés à un coût raisonnable.

    Et prendre des mesures efficaces en matière d’allégement de la dette, notamment en intensifiant le recours à des outils éprouvés tels que la conversion de dettes en mesures en faveur du climat.

    À l’heure actuelle, les pays en développement paient des sommes exorbitantes pour accéder à des financements par emprunt et par prise de participation, en partie à cause de modèles de risque obsolètes, de préjugés et d’hypothèses erronées qui accroissent considérablement le coût du capital.

    Les agences de notation et les investisseurs doivent moderniser leurs pratiques.
     
    Il nous faut une nouvelle approche du risque qui tienne compte :

    Du potentiel des énergies propres.

    Du coût croissant du chaos climatique.

    Et du danger associé aux actifs fossiles échoués.

    Je demande instamment aux parties de s’atteler ensemble à régler les problèmes complexes auxquels se heurtent certains pays en développement dans le cadre de la transition énergétique, notamment la mise hors service anticipée des centrales à charbon.

    Excellences, chers amis,

    L’ère des combustibles fossiles est à bout de souffle et en bout de course.

    Nous sommes à l’aube d’une nouvelle ère énergétique.

    Une ère dans laquelle une énergie abondante, propre et peu coûteuse viendra alimenter un monde riche en perspectives économiques.

    Où la sécurité énergétique des nations sera assurée.

    Et où l’énergie sera un bien universel.

    Ce monde est à notre portée.

    Mais cela ne se fera pas tout seul.

    Pas assez rapidement.

    Pas assez équitablement.

    C’est à nous de prendre les choses en main.

    Nous disposons des outils nécessaires pour doter l’humanité de l’énergie de demain.

    Utilisons-les à bon escient.

    Nous ne devons pas laisser passer ce moment.

    Je vous remercie.
     

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: President Lai meets cross-party Irish Oireachtas delegation

    Source: Republic of China Taiwan

    Details
    2025-07-22
    President Lai meets official delegation from European Parliament’s Special Committee on the European Democracy Shield
    On the morning of July 22, President Lai Ching-te met with an official delegation from the European Parliament’s Special Committee on the European Democracy Shield (EUDS). In remarks, President Lai thanked the committee for choosing to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe. President Lai emphasized that Taiwan, standing at the very frontline of the democratic world, is determined to protect democracy, peace, and prosperity worldwide. He expressed hope that we can share our experiences with Europe to foster even more resilient societies. A translation of President Lai’s remarks follows: Firstly, on behalf of the people of Taiwan, I extend a warm welcome to your delegation, which marks another official visit from the European Parliament. The Special Committee on the EUDS aims to strengthen societal resilience and counter disinformation and hybrid threats. Having been constituted at the beginning of this year, the committee has chosen to visit Taiwan for its first trip to Asia, demonstrating the close ties between Taiwan and Europe and the unlimited possibilities for deepening cooperation on issues of concern. I am also delighted to see many old friends of Taiwan gathered here today. I deeply appreciate your longstanding support for Taiwan. Taiwan and the European Union enjoy close trade and economic relations and share the values of freedom and democracy. However, in recent years, we have both been subjected to information manipulation and infiltration by foreign forces that seek to interfere in democratic elections, foment division in our societies, and shake people’s faith in democracy. Taiwan not only faces an onslaught of disinformation, but also is the target of gray-zone aggression. That is why, after taking office, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office, with myself as convener. The committee is a platform that integrates domestic affairs, national defense, foreign affairs, cybersecurity, and civil resources. It aims to strengthen the capability of Taiwan’s society to defend itself against new forms of threat, pinpoint external and internal vulnerabilities, and bolster overall resilience and security. The efforts that democracies make are not for opposing anyone else; they are for safeguarding the way of life that we cherish – just as Europe has endeavored to promote diversity and human rights. The Taiwanese people firmly believe that when our society is united and people trust one another, we will be able to withstand any form of authoritarian aggression. Taiwan stands at the very frontline of the democratic world. We are determined to protect democracy, peace, and prosperity worldwide. We also hope to share our experiences with Europe and deepen cooperation in such fields as cybersecurity, media literacy, and societal resilience. Thank you once again for visiting Taiwan. Your presence further strengthens the foundations of Taiwan-Europe relations. Let us continue to work together to uphold freedom and democracy and foster even more resilient societies. EUDS Special Committee Chair Nathalie Loiseau then delivered remarks, saying that the delegation has members from different countries, including France, Germany, the Czech Republic, Poland, and Belgium, and different political parties, but that they have in common their desire for stronger relations between the EU and Taiwan. Committee Chair Loiseau stated that the EU and Taiwan, having many things in common, should work more together. She noted that we have strong trade relations, strong investments on both sides, and strong cultural relations, while we are also facing very similar challenges and threats. She said that we are democracies living in a world where autocracies want to weaken and divide democracies. She added that we also face external information manipulation, cyberattacks, sabotage, attempts to capture elites, and every single gray-zone activity that aims to divide and weaken us. Committee Chair Loiseau pointed out another commonality, that we have never threatened our neighbors. She said that we want to live in peace and we care about our people; we want to defend ourselves, not to attack others. We are not being threatened because of what we do, she emphasized, but because of what we are; and thus there is no reason for not working more together to face these threats and attacks. Committee Chair Loiseau said that Taiwan has valuable experience and good practices in the area of societal resilience, and that they are interested in learning more about Taiwan’s whole-of-society approach. They in Europe are facing interference, she said, mainly from Russia, and they know that Russia inspires others. She added that they in the EU also have experience regulating social media in a way which combines freedom of expression and responsibility. In closing, the chair said that they are happy to have the opportunity to exchange views with President Lai and that the European Parliament will continue to strongly support relations between the EU and Taiwan. The delegation also included Members of the European Parliament Engin Eroglu, Tomáš Zdechovský, Michał Wawrykiewicz, Kathleen Van Brempt, and Markéta Gregorová.

    Details
    2025-07-17
    President Lai meets President of Guatemalan Congress Nery Abilio Ramos y Ramos  
    On the morning of July 17, President Lai Ching-te met with a delegation led by Nery Abilio Ramos y Ramos, the president of the Congress of the Republic of Guatemala. In remarks, President Lai thanked Congress President Ramos and the Guatemalan Congress for their support for Taiwan, and noted that official diplomatic relations between Taiwan and Guatemala go back more than 90 years. As important partners in the global democratic community, the president said, the two nations will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. A translation of President Lai’s remarks follows:  I recall that when Congress President Ramos visited Taiwan in July last year, he put forward many ideas about how our countries could promote bilateral cooperation and exchanges. Now, a year later, he is leading another cross-party delegation from the Guatemalan Congress on a visit, demonstrating support for Taiwan and continuing to help deepen our diplomatic ties. In addition to extending a sincere welcome to the distinguished delegation members who have traveled so far to be here, I would also like to express our concern and condolences for everyone in Guatemala affected by the earthquake that struck earlier this month. We hope that the recovery effort is going smoothly. Official diplomatic relations between Taiwan and Guatemala go back more than 90 years. In such fields as healthcare, agriculture, education, and women’s empowerment, we have continually strengthened our cooperation to benefit our peoples. Just last month, Guatemala’s President Bernardo Arévalo and the First Lady led a delegation on a state visit to Taiwan. President Arévalo and I signed a letter of intent for semiconductor cooperation, and also witnessed the signing of cooperation documents to establish a political consultation mechanism and continue to promote bilateral investment. This has laid an even sounder foundation for bilateral exchanges and cooperation, and will help enhance both countries’ international competitiveness. Taiwan is currently running a semiconductor vocational training program, helping Guatemala cultivate semiconductor talent and develop its tech industry, and demonstrating our determination to share experience with democratic partners. At the same time, we continue to assist Taiwanese businesses in their efforts to develop overseas markets with Guatemala as an important base, spurring industrial development in both countries and increasing economic and trade benefits. I want to thank Congress President Ramos and the Guatemalan Congress for their continued support for Taiwan’s international participation. Representing the Guatemalan Congress, Congress President Ramos has signed resolutions in support of Taiwan, and has also issued statements addressing China’s misinterpretation of United Nations General Assembly Resolution 2758. Taiwan and Guatemala, as important partners in the global democratic community, will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. Congress President Ramos then delivered remarks, first noting that the members of the delegation are not only from different parties, but also represent different classes, cultures, professions, and departments, which shows that the diplomatic ties between Guatemala and the Republic of China (Taiwan) are based on firm friendships at all levels and in all fields. Noting that this was his second time to visit Taiwan and meet with President Lai, Congress President Ramos thanked the government of Taiwan for its warm hospitality. With the international situation growing more complex by the day, he said, Guatemala highly values its longstanding friendship and cooperative ties with Taiwan, and hopes that both sides can continue to deepen their cooperation in such areas as the economy, technology, education, agriculture, and culture, and work together to spur sustainable development in each of our countries. Congress President Ramos said that the way the Taiwan government looks after the well-being of its people is an excellent model for how other countries should promote national development and social well-being. Accordingly, he said, the Guatemalan Congress has stood for justice and, for a second time, adopted a resolution backing Taiwan’s participation in the World Health Assembly. Regarding President Arévalo’s state visit to Taiwan the previous month, Congress President Ramos commented that this high-level interaction has undoubtedly strengthened the diplomatic ties between Taiwan and Guatemala and led to more opportunities for cooperation. Congress President Ramos emphasized that democracy, freedom, and human rights are universal values that bind Taiwan and Guatemala together, and that he is confident the two countries’ diplomatic ties will continue to grow deeper. In closing, on behalf of the Republic of Guatemala, Congress President Ramos presented President Lai with a Chinese translation of the resolution that the Guatemalan Congress proposed to the UN in support of Taiwan’s participation in international organizations, demonstrating the staunch bonds of friendship between the two countries. The delegation was accompanied to the Presidential Office by Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-07-08
    President Lai meets delegation led by Foreign Minister Jean-Victor Harvel Jean-Baptiste of Republic of Haiti
    On the morning of July 8, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Jean-Victor Harvel Jean-Baptiste of the Republic of Haiti and his wife. In remarks, President Lai noted that our two countries will soon mark the 70th anniversary of diplomatic relations and that our exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. The president stated that Taiwan will continue to work together with Haiti to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. The president thanked Haiti for supporting Taiwan’s international participation and expressed hope that both countries will continue to support each other, deepen cooperation, and face various challenges together. A translation of President Lai’s remarks follows: I am delighted to meet and exchange ideas with Minister Jean-Baptiste, his wife, and our distinguished guests. Minister Jean-Baptiste is the highest-ranking official from Haiti to visit Taiwan since former President Jovenel Moïse visited in 2018, demonstrating the importance that the Haitian government attaches to our bilateral diplomatic ties. On behalf of the Republic of China (Taiwan), I extend a sincere welcome. Next year marks the 70th anniversary of the establishment of diplomatic ties between our two countries. Our bilateral exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. Over the past few years, Haiti has faced challenges in such areas as food supply and healthcare. Taiwan will continue to work together with Haiti through various cooperative programs to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. I want to thank the government of Haiti and Minister Jean-Baptiste for speaking out in support of Taiwan on the international stage for many years. Minister Jean-Baptiste’s personal letter to the World Health Organization Secretariat in May this year and Minister of Public Health and Population Bertrand Sinal’s public statement during the World Health Assembly both affirmed Taiwan’s efforts and contributions to global public health and supported Taiwan’s international participation, for which we are very grateful. I hope that Taiwan and Haiti will continue to support each other and deepen cooperation. I believe that Minister Jean-Baptiste’s visit will open up more opportunities for cooperation for both countries, helping Taiwan and Haiti face various challenges together. In closing, I once again offer a sincere welcome to the delegation led by Minister Jean-Baptiste, and ask him to convey greetings from Taiwan to Prime Minister Alix Didier Fils-Aimé and the members of the Transitional Presidential Council. Minister Jean-Baptiste then delivered remarks, saying that he is extremely honored to visit Taiwan and reaffirm the solid and friendly cooperative relationship based on mutual respect between the Republic of Haiti and the Republic of China (Taiwan), which will soon mark its 70th anniversary. He also brought greetings to President Lai from Haiti’s Transitional Presidential Council and Prime Minister Fils-Aimé. Minister Jean-Baptiste emphasized that over the past few decades, despite the great geographical distance and developmental and cultural differences between our two countries, we have nevertheless established a firm friendship and demonstrated to the world the progress resulting from the mutual assistance and cooperation between our peoples. Minister Jean-Baptiste pointed out that our two countries cooperate closely in agriculture, health, education, and community development and have achieved concrete results. Taiwan’s voice, he said, is thus essential for the people of Haiti. He noted that Taiwan also plays an important role in peace and innovation and actively participates in global cooperative efforts. Pointing out that the world is currently facing significant challenges and that Haiti is experiencing its most difficult period in history, Minister Jean-Baptiste said that at this time, Taiwan and Haiti need to unite, help each other, and jointly think about how to move forward and deepen bilateral relations to benefit the peoples of both countries. Minister Jean-Baptiste said that he is pleased that throughout our solid and friendly diplomatic relationship, both countries have demonstrated mutual trust, mutual respect, and the values we jointly defend. He then stated his belief that Haiti and Taiwan will together create a cooperation model and future that are sincere, friendly, and sustainable. The delegation was accompanied to the Presidential Office by Chargé d’Affaires a.i. Francilien Victorin of the Embassy of the Republic of Haiti in Taiwan.

    Details
    2025-07-01
    President Lai meets delegation from 2025 Taiwan International Ocean Forum
    On the afternoon of July 1, President Lai Ching-te met with a delegation from the 2025 Taiwan International Ocean Forum (TIOF). In remarks, President Lai noted that the people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. He expressed hope that their visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. A translation of President Lai’s remarks follows: I want to thank our guests for coming here to the Presidential Office. The 2025 TIOF will take place tomorrow and the day after, and I thank you all for making the long trip to Taiwan to attend the event and share your valuable insights and experiences. This year’s forum will focus on strategies for strengthening maritime security and pathways to achieving a sustainable blue economy. By attending this forum, our guests are highlighting their commitment to safeguarding the oceans, and beyond that, taking concrete action to demonstrate support for Taiwan. I once again offer deepest gratitude on behalf of the people of Taiwan. Taiwan holds a key position on the first island chain, is one of the world’s top 10 shipping nations, and accounts for close to 10 percent of global container shipping by volume. As such, Taiwan occupies a unique and important position in maritime strategy. For Taiwan, the ocean is more than just a basis for survival and development; it is also an important driver of national prosperity. In my inaugural address last year, I spoke of a threefold approach to further Taiwan’s development. One of these involves further developing our strengths as a maritime nation. Our government must actively help deepen our connections with the ocean, and must continue to promote green shipping, a sustainable fishing industry, marine renewable energy, and other forms of industrial transformation. It must also make use of marine technology and digital innovation to create a new paradigm that balances environmental, economic, and social inclusion concerns. This will help enhance Taiwan’s responsibilities and competitiveness as a maritime nation. Taiwan is surrounded by ocean, and our territorial waters are a natural protective barrier. However, continued gray-zone aggression from China creates serious threats and challenges to peace and stability in the Taiwan Strait. Our government continues to invest resources to deal with increasingly complex maritime security issues. In addition to building coast guard patrol vessels, we must also step up efforts to build underwater, surface, and airborne unmanned vehicles and smart reconnaissance equipment, so as to demonstrate Taiwan’s determination to defend democracy and freedom and commitment to maintaining peace and stability in the Taiwan Strait. Oceans are Taiwan’s roots, and provide the channels by which we engage with the world. The people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. The TIOF was first launched in 2020, and has now become an important platform for enhancement of cooperation between Taiwan and other countries. I hope that our distinguished guests will reap great benefits at this year’s forum, and further hope that this visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. Chairman of The Washington Times Thomas McDevitt, a member of the delegation, then delivered remarks, noting first that July 4th, this Friday, is Independence Day in America. Independence is a sacred, powerful word which has great meaning in this part of the world, he said. Chairman McDevitt indicated that Taiwan has truly become a global beacon of democracy and a key partner for many nations. He then quoted President Lai’s 2024 inaugural address: “We will work together to combat disinformation, strengthen democratic resilience, address challenges, and allow Taiwan to become the MVP of the democratic world.” Chairman McDevitt went on to say that he appreciated the president’s speech with regard to his philosophical depth, sensitivity, and both moral and political clarity. He said that he was deeply moved by the speech, but within a few days of it, China responded with military activities and many threats. The chairman then emphasized that we are in a civilization crisis. Chairman McDevitt mentioned that President Lai has begun a series of 10 lectures, and remarked that they would help the world to understand the identity and the nature of Taiwan, as well as the situation we are in in the world. On behalf of all the delegation, Chairman McDevitt thanked the president for his leadership in dealing with these issues thoughtfully. Chairman McDevitt concluded with a line from the Old Testament which states that if the people have no vision, they will perish. He said that he believes Taiwan’s president has led the people of Taiwan, and the world, with a vision of how to navigate this great civilization crisis together. The delegation also included Members of the Japanese House of Representatives Kikawada Hitoshi, Aoyama Yamato, and Genma Kentaro, and Member of Parliament of the United Kingdom Gavin Williamson.

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

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

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: President Lai meets official delegation from European Parliament’s Special Committee on the European Democracy Shield

    Source: Republic of China Taiwan

    Details
    2025-07-17
    President Lai meets President of Guatemalan Congress Nery Abilio Ramos y Ramos  
    On the morning of July 17, President Lai Ching-te met with a delegation led by Nery Abilio Ramos y Ramos, the president of the Congress of the Republic of Guatemala. In remarks, President Lai thanked Congress President Ramos and the Guatemalan Congress for their support for Taiwan, and noted that official diplomatic relations between Taiwan and Guatemala go back more than 90 years. As important partners in the global democratic community, the president said, the two nations will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. A translation of President Lai’s remarks follows:  I recall that when Congress President Ramos visited Taiwan in July last year, he put forward many ideas about how our countries could promote bilateral cooperation and exchanges. Now, a year later, he is leading another cross-party delegation from the Guatemalan Congress on a visit, demonstrating support for Taiwan and continuing to help deepen our diplomatic ties. In addition to extending a sincere welcome to the distinguished delegation members who have traveled so far to be here, I would also like to express our concern and condolences for everyone in Guatemala affected by the earthquake that struck earlier this month. We hope that the recovery effort is going smoothly. Official diplomatic relations between Taiwan and Guatemala go back more than 90 years. In such fields as healthcare, agriculture, education, and women’s empowerment, we have continually strengthened our cooperation to benefit our peoples. Just last month, Guatemala’s President Bernardo Arévalo and the First Lady led a delegation on a state visit to Taiwan. President Arévalo and I signed a letter of intent for semiconductor cooperation, and also witnessed the signing of cooperation documents to establish a political consultation mechanism and continue to promote bilateral investment. This has laid an even sounder foundation for bilateral exchanges and cooperation, and will help enhance both countries’ international competitiveness. Taiwan is currently running a semiconductor vocational training program, helping Guatemala cultivate semiconductor talent and develop its tech industry, and demonstrating our determination to share experience with democratic partners. At the same time, we continue to assist Taiwanese businesses in their efforts to develop overseas markets with Guatemala as an important base, spurring industrial development in both countries and increasing economic and trade benefits. I want to thank Congress President Ramos and the Guatemalan Congress for their continued support for Taiwan’s international participation. Representing the Guatemalan Congress, Congress President Ramos has signed resolutions in support of Taiwan, and has also issued statements addressing China’s misinterpretation of United Nations General Assembly Resolution 2758. Taiwan and Guatemala, as important partners in the global democratic community, will continue moving forward together in joint defense of the values of democracy and freedom, and will cooperate to promote regional and global prosperity and development. Congress President Ramos then delivered remarks, first noting that the members of the delegation are not only from different parties, but also represent different classes, cultures, professions, and departments, which shows that the diplomatic ties between Guatemala and the Republic of China (Taiwan) are based on firm friendships at all levels and in all fields. Noting that this was his second time to visit Taiwan and meet with President Lai, Congress President Ramos thanked the government of Taiwan for its warm hospitality. With the international situation growing more complex by the day, he said, Guatemala highly values its longstanding friendship and cooperative ties with Taiwan, and hopes that both sides can continue to deepen their cooperation in such areas as the economy, technology, education, agriculture, and culture, and work together to spur sustainable development in each of our countries. Congress President Ramos said that the way the Taiwan government looks after the well-being of its people is an excellent model for how other countries should promote national development and social well-being. Accordingly, he said, the Guatemalan Congress has stood for justice and, for a second time, adopted a resolution backing Taiwan’s participation in the World Health Assembly. Regarding President Arévalo’s state visit to Taiwan the previous month, Congress President Ramos commented that this high-level interaction has undoubtedly strengthened the diplomatic ties between Taiwan and Guatemala and led to more opportunities for cooperation. Congress President Ramos emphasized that democracy, freedom, and human rights are universal values that bind Taiwan and Guatemala together, and that he is confident the two countries’ diplomatic ties will continue to grow deeper. In closing, on behalf of the Republic of Guatemala, Congress President Ramos presented President Lai with a Chinese translation of the resolution that the Guatemalan Congress proposed to the UN in support of Taiwan’s participation in international organizations, demonstrating the staunch bonds of friendship between the two countries. The delegation was accompanied to the Presidential Office by Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-07-08
    President Lai meets delegation led by Foreign Minister Jean-Victor Harvel Jean-Baptiste of Republic of Haiti
    On the morning of July 8, President Lai Ching-te met with a delegation led by Minister of Foreign Affairs Jean-Victor Harvel Jean-Baptiste of the Republic of Haiti and his wife. In remarks, President Lai noted that our two countries will soon mark the 70th anniversary of diplomatic relations and that our exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. The president stated that Taiwan will continue to work together with Haiti to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. The president thanked Haiti for supporting Taiwan’s international participation and expressed hope that both countries will continue to support each other, deepen cooperation, and face various challenges together. A translation of President Lai’s remarks follows: I am delighted to meet and exchange ideas with Minister Jean-Baptiste, his wife, and our distinguished guests. Minister Jean-Baptiste is the highest-ranking official from Haiti to visit Taiwan since former President Jovenel Moïse visited in 2018, demonstrating the importance that the Haitian government attaches to our bilateral diplomatic ties. On behalf of the Republic of China (Taiwan), I extend a sincere welcome. Next year marks the 70th anniversary of the establishment of diplomatic ties between our two countries. Our bilateral exchanges have been fruitful in important areas such as public security, educational cooperation, and infrastructure. Over the past few years, Haiti has faced challenges in such areas as food supply and healthcare. Taiwan will continue to work together with Haiti through various cooperative programs to promote the development of medical and health care, food security, and construction that benefits people’s livelihoods. I want to thank the government of Haiti and Minister Jean-Baptiste for speaking out in support of Taiwan on the international stage for many years. Minister Jean-Baptiste’s personal letter to the World Health Organization Secretariat in May this year and Minister of Public Health and Population Bertrand Sinal’s public statement during the World Health Assembly both affirmed Taiwan’s efforts and contributions to global public health and supported Taiwan’s international participation, for which we are very grateful. I hope that Taiwan and Haiti will continue to support each other and deepen cooperation. I believe that Minister Jean-Baptiste’s visit will open up more opportunities for cooperation for both countries, helping Taiwan and Haiti face various challenges together. In closing, I once again offer a sincere welcome to the delegation led by Minister Jean-Baptiste, and ask him to convey greetings from Taiwan to Prime Minister Alix Didier Fils-Aimé and the members of the Transitional Presidential Council. Minister Jean-Baptiste then delivered remarks, saying that he is extremely honored to visit Taiwan and reaffirm the solid and friendly cooperative relationship based on mutual respect between the Republic of Haiti and the Republic of China (Taiwan), which will soon mark its 70th anniversary. He also brought greetings to President Lai from Haiti’s Transitional Presidential Council and Prime Minister Fils-Aimé. Minister Jean-Baptiste emphasized that over the past few decades, despite the great geographical distance and developmental and cultural differences between our two countries, we have nevertheless established a firm friendship and demonstrated to the world the progress resulting from the mutual assistance and cooperation between our peoples. Minister Jean-Baptiste pointed out that our two countries cooperate closely in agriculture, health, education, and community development and have achieved concrete results. Taiwan’s voice, he said, is thus essential for the people of Haiti. He noted that Taiwan also plays an important role in peace and innovation and actively participates in global cooperative efforts. Pointing out that the world is currently facing significant challenges and that Haiti is experiencing its most difficult period in history, Minister Jean-Baptiste said that at this time, Taiwan and Haiti need to unite, help each other, and jointly think about how to move forward and deepen bilateral relations to benefit the peoples of both countries. Minister Jean-Baptiste said that he is pleased that throughout our solid and friendly diplomatic relationship, both countries have demonstrated mutual trust, mutual respect, and the values we jointly defend. He then stated his belief that Haiti and Taiwan will together create a cooperation model and future that are sincere, friendly, and sustainable. The delegation was accompanied to the Presidential Office by Chargé d’Affaires a.i. Francilien Victorin of the Embassy of the Republic of Haiti in Taiwan.

    Details
    2025-07-01
    President Lai meets delegation from 2025 Taiwan International Ocean Forum
    On the afternoon of July 1, President Lai Ching-te met with a delegation from the 2025 Taiwan International Ocean Forum (TIOF). In remarks, President Lai noted that the people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. He expressed hope that their visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. A translation of President Lai’s remarks follows: I want to thank our guests for coming here to the Presidential Office. The 2025 TIOF will take place tomorrow and the day after, and I thank you all for making the long trip to Taiwan to attend the event and share your valuable insights and experiences. This year’s forum will focus on strategies for strengthening maritime security and pathways to achieving a sustainable blue economy. By attending this forum, our guests are highlighting their commitment to safeguarding the oceans, and beyond that, taking concrete action to demonstrate support for Taiwan. I once again offer deepest gratitude on behalf of the people of Taiwan. Taiwan holds a key position on the first island chain, is one of the world’s top 10 shipping nations, and accounts for close to 10 percent of global container shipping by volume. As such, Taiwan occupies a unique and important position in maritime strategy. For Taiwan, the ocean is more than just a basis for survival and development; it is also an important driver of national prosperity. In my inaugural address last year, I spoke of a threefold approach to further Taiwan’s development. One of these involves further developing our strengths as a maritime nation. Our government must actively help deepen our connections with the ocean, and must continue to promote green shipping, a sustainable fishing industry, marine renewable energy, and other forms of industrial transformation. It must also make use of marine technology and digital innovation to create a new paradigm that balances environmental, economic, and social inclusion concerns. This will help enhance Taiwan’s responsibilities and competitiveness as a maritime nation. Taiwan is surrounded by ocean, and our territorial waters are a natural protective barrier. However, continued gray-zone aggression from China creates serious threats and challenges to peace and stability in the Taiwan Strait. Our government continues to invest resources to deal with increasingly complex maritime security issues. In addition to building coast guard patrol vessels, we must also step up efforts to build underwater, surface, and airborne unmanned vehicles and smart reconnaissance equipment, so as to demonstrate Taiwan’s determination to defend democracy and freedom and commitment to maintaining peace and stability in the Taiwan Strait. Oceans are Taiwan’s roots, and provide the channels by which we engage with the world. The people of Taiwan will continue to work with democratic partners throughout the world in a maritime spirit of freedom and openness to contribute to ocean governance and jointly ensure maritime security. The TIOF was first launched in 2020, and has now become an important platform for enhancement of cooperation between Taiwan and other countries. I hope that our distinguished guests will reap great benefits at this year’s forum, and further hope that this visit will help forge stronger friendships between Taiwan and international maritime partners, so that all can work together to spur shared maritime prosperity and sustainable development for the next generation. Chairman of The Washington Times Thomas McDevitt, a member of the delegation, then delivered remarks, noting first that July 4th, this Friday, is Independence Day in America. Independence is a sacred, powerful word which has great meaning in this part of the world, he said. Chairman McDevitt indicated that Taiwan has truly become a global beacon of democracy and a key partner for many nations. He then quoted President Lai’s 2024 inaugural address: “We will work together to combat disinformation, strengthen democratic resilience, address challenges, and allow Taiwan to become the MVP of the democratic world.” Chairman McDevitt went on to say that he appreciated the president’s speech with regard to his philosophical depth, sensitivity, and both moral and political clarity. He said that he was deeply moved by the speech, but within a few days of it, China responded with military activities and many threats. The chairman then emphasized that we are in a civilization crisis. Chairman McDevitt mentioned that President Lai has begun a series of 10 lectures, and remarked that they would help the world to understand the identity and the nature of Taiwan, as well as the situation we are in in the world. On behalf of all the delegation, Chairman McDevitt thanked the president for his leadership in dealing with these issues thoughtfully. Chairman McDevitt concluded with a line from the Old Testament which states that if the people have no vision, they will perish. He said that he believes Taiwan’s president has led the people of Taiwan, and the world, with a vision of how to navigate this great civilization crisis together. The delegation also included Members of the Japanese House of Representatives Kikawada Hitoshi, Aoyama Yamato, and Genma Kentaro, and Member of Parliament of the United Kingdom Gavin Williamson.

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

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

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

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Anticipating Displacement: EUAA looking into Migration Trends in Ukraine

    Source: European Asylum Support Office

    As the Russian war of aggression on Ukraine continues and the situation in Ukraine remains volatile, the European Union Agency for Asylum (EUAA) has strengthened its capacity to combine near to real-time situational awareness, data collection in the field and forecasting. The aim is to go beyond reactive analysis and ensure Member States are equipped to manage not just today’s asylum-related migration flows, but tomorrow’s as well. 

    In July 2025, with no end to the conflict in Ukraine in sight, the fighting is going on with increasing intensity. In June, Ukraine’s Security Service launched “Operation Spiderweb,” targeting Russian strategic bombers, followed by a maritime drone strike that damaged the Kerch Bridge and drone attacks that forced the Russian authorities to temporarily close Moscow airports. Russia responded with intensified aerial attacks on Kyiv and other cities. Simultaneously, ceasefire talks in Türkiye produced no progress beyond a prisoner exchange. These developments reinforce the urgency of equipping EU countries with modern, mixed-method tools to anticipate and prepare for any potential renewed displacement, ensuring that Member States remain responsive in a volatile geopolitical environment.

    A multifaceted approach to intelligence

    The EUAA’s intelligence capability includes Human Intelligence (HUMINT) gathered through the EUAA’s Surveys with Arriving Migrants from Ukraine (SAM–UKR), a flexible tool used to collect testimonies from persons displaced by the Russian invasion who are currently in the EU+. It captures experiences, intentions and aspirations, which in turn allows the Agency to understand push factors, the scale of integration in host countries and possible return prospects.

    Separately, Open-Source Intelligence (OSINT) enables the EUAA to monitor near to real-time conflict events and geopolitical developments that may trigger migration — including, for example, the Russian bombardment of Ukraine’s power infrastructure. These various types of qualitative insights are then combined with EUAA’s own quantitative data to produce short-term forecasts according to the needs of Member States and European policymakers.

    Investing in cooperation with local partners

    In Ukraine, the EUAA is collaborating with a Ukrainian public opinion company, Gradus Research, to gather real-time insights on migration intentions. The collaboration offers insights gathered within Ukraine, before displacements materialise at the EU external border. Gradus’ ability to deliver real-time assessments has enabled the EUAA to monitor changes in sentiment following key military and political events.

    By systematically monitoring migration intentions and pull & push factors, we enable the EUAA and Member States to base their preparedness on real-time intelligence — supporting evidence-based planning in a fluid and high-stakes context. Our survey technology allows us to deliver results in real time, which is a crucial factor in a rapidly changing environment and the emergence of new and evolving risks for the population. Therefore, we don’t collect abstract migration sentiments (like a general desire to migrate at some point in the future), but rather capture real, current sentiments on the ground

    Evgeniya BLYZNYUK Sociologist, CEO & Founder of Gradus Research

    Protection in a Dynamic Environment

    In 2025, the share of the population intending to leave Ukraine within the next six months remains at 13 % of respondents. Poland and Germany continue to be the most preferred destinations, primarily due to job opportunities, family ties, access to benefits and support (with a significant increase compared to the previous wave), and safety. Key push factors — such as threats to life and the risk of occupation — have remained stable since the beginning of 2025. Despite ongoing risks, including hostilities and economic concerns, 71 % of respondents plan to stay in Ukraine if the active phase of the war ends.

    At the end of May 2025, around 4.4 million people were benefitting from temporary protection in the EU+. While Germany and Poland hosted the largest in absolute numbers, Czechia hosted the most beneficiaries per capita. These figures illustrate not only the scale of current protection efforts, but also the need for continued investment in preparedness — including intelligence-led, forward-looking tools that can anticipate renewed displacement, returns, or onward movement.

    As Russian attacks on Ukraine continue, the Council has recently extended temporary protection for another year, until March 2027. At the same time, Ukrainians in Europe consider more permanent alternatives to temporary protection like applying for asylum. Clearly, understanding the views of displaced Ukrainians will play a crucial role for any successful transition. The EUAA has the tools, partnerships and expertise needed to inform policy makers, enabling them to navigate it.

    Background

    The EUAA’s intelligence-led activities are anchored in its legal mandate to gather and analyse information on root causes, migratory and refugee flows in support of early warning and Member State preparedness. They feed into scenario development, capacity planning, and contingency plans including regular updates to asylum trends, structured foresight exercises, and the integration of both traditional and non-traditional data sources. Thus, the EUAA supports Member States with agile, evidence-driven tools in the dynamic operational landscape of the ongoing war in Ukraine.

    MIL OSI Europe News

  • IMF’s Gita Gopinath to step down in August, return to Harvard University

    Source: Government of India

    Source: Government of India (4)

    Gita Gopinath, the No. 2 official at the International Monetary Fund, will leave her post at the end of August to return to Harvard University, the IMF said in a statement on Monday.

    IMF Managing Director Kristalina Georgieva will name a successor to Gopinath in “due course,” the IMF said.

    Gopinath joined the fund in 2019 as chief economist – the first woman to serve in that role – and was promoted to first deputy managing director in January 2022.

    No comment was immediately available from the U.S. Treasury, which manages the dominant U.S. shareholding in the IMF. While European countries have traditionally chosen the Fund’s managing director, the U.S. Treasury has traditionally recommended candidates for the first deputy managing director role.

    Gopinath is an Indian-born U.S. citizen.

    The timing of the move caught some IMF insiders by surprise, and appears to have been initiated by Gopinath.

    Gopinath, who had left Harvard to join the IMF, will return to the university as a professor of economics.

    Gopinath’s departure will offer Treasury a chance to recommend a successor at a time when U.S. President Donald Trump is seeking to restructure the global economy and end longstanding U.S. trade deficits with high tariffs on imports from nearly all countries.

    She will return to a university that has been in the Trump administration’s crosshairs after it rejected demands to change its governance, hiring, and admissions practices.

    Georgieva said Gopinath joined the IMF as a highly respected academic and proved to be an “exceptional intellectual leader” during her time, which included the pandemic and global shocks caused by Russia’s invasion of Ukraine.

    “Gita steered the Fund’s analytical and policy work with clarity, striving for the highest standards of rigorous analysis at a complex time of high uncertainty and rapidly changing global economic environment,” Georgieva said.

    Gopinath has also overseen the fund’s multilateral surveillance and analytical work on fiscal and monetary policy, debt, and international trade.

    Gopinath said she was grateful for a “once in a lifetime opportunity” to work at the IMF, thanking both Georgieva and the previous IMF chief, Christine Lagarde, who appointed her as chief economist.

    “I now return to my roots in academia, where I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists,” she said in a statement.

    (Reuters)

  • IMF’s Gita Gopinath to step down in August, return to Harvard University

    Source: Government of India

    Source: Government of India (4)

    Gita Gopinath, the No. 2 official at the International Monetary Fund, will leave her post at the end of August to return to Harvard University, the IMF said in a statement on Monday.

    IMF Managing Director Kristalina Georgieva will name a successor to Gopinath in “due course,” the IMF said.

    Gopinath joined the fund in 2019 as chief economist – the first woman to serve in that role – and was promoted to first deputy managing director in January 2022.

    No comment was immediately available from the U.S. Treasury, which manages the dominant U.S. shareholding in the IMF. While European countries have traditionally chosen the Fund’s managing director, the U.S. Treasury has traditionally recommended candidates for the first deputy managing director role.

    Gopinath is an Indian-born U.S. citizen.

    The timing of the move caught some IMF insiders by surprise, and appears to have been initiated by Gopinath.

    Gopinath, who had left Harvard to join the IMF, will return to the university as a professor of economics.

    Gopinath’s departure will offer Treasury a chance to recommend a successor at a time when U.S. President Donald Trump is seeking to restructure the global economy and end longstanding U.S. trade deficits with high tariffs on imports from nearly all countries.

    She will return to a university that has been in the Trump administration’s crosshairs after it rejected demands to change its governance, hiring, and admissions practices.

    Georgieva said Gopinath joined the IMF as a highly respected academic and proved to be an “exceptional intellectual leader” during her time, which included the pandemic and global shocks caused by Russia’s invasion of Ukraine.

    “Gita steered the Fund’s analytical and policy work with clarity, striving for the highest standards of rigorous analysis at a complex time of high uncertainty and rapidly changing global economic environment,” Georgieva said.

    Gopinath has also overseen the fund’s multilateral surveillance and analytical work on fiscal and monetary policy, debt, and international trade.

    Gopinath said she was grateful for a “once in a lifetime opportunity” to work at the IMF, thanking both Georgieva and the previous IMF chief, Christine Lagarde, who appointed her as chief economist.

    “I now return to my roots in academia, where I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges, and to training the next generation of economists,” she said in a statement.

    (Reuters)

  • MIL-OSI China: Zelensky says Ukraine, Russia to hold talks in Türkiye on Wednesday

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

    The next round of peace talks between Russia and Ukraine will be held Wednesday in Türkiye, Ukrainian President Volodymyr Zelensky said Monday.

    In his daily address, Zelensky said he discussed with Rustem Umerov, secretary of the National Security and Defense Council, about the meeting. “Umerov said the meeting was scheduled for Wednesday. There will be more details tomorrow.”

    Umerov, the former defense minister, was appointed to his current position last week and headed the Ukrainian delegation in the previous two talks in Istanbul, Türkiye.

    However, Russia’s TASS news agency quoted a source as saying that the third round of talks will take place on Thursday. “The meeting is scheduled for July 24, the delegations may arrive in Istanbul on the 23rd,” the source said.

    Kremlin spokesperson Dmitry Peskov said Sunday that Russia is ready to move quickly toward a settlement on Ukraine, but the main objective is to achieve its goals. 

    MIL OSI China News

  • MIL-OSI China: FM spokesperson speaks about China’s expectations for 25th China-EU Summit

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

    China and the European Union (EU) will hold the 25th China-EU Summit in Beijing, Chinese Foreign Ministry spokesperson Guo Jiakun said at a daily news briefing on Monday, when he also talked about China’s expectations for the upcoming summit and current China-EU relations.

    Guo said that this year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU, as well as the 80th anniversary of the founding of the United Nations.

    The world is currently undergoing a historic transformation — the international landscape is experiencing more instability and rapid change, and unilateralism and bullying practices are significantly undermining international rule and order, placing humanity at a critical crossroads once again, Guo said.

    As two major forces advancing multipolarity, two major markets supporting globalization and two major civilizations championing diversity, the 25th China-EU summit is of great importance and is drawing widespread attention from the international community, he added.

    “Over the past half century, China-EU relations have weathered challenges and are now progressing toward maturity and stability, becoming one of the most influential bilateral relationships in the world,” Guo said.

    Cooperation between China and the EU has yielded fruitful results, he said, with each providing significant support for the other’s development and providing tangible benefits to nearly 2 billion Chinese and EU people, making important contributions to global peace and development, and setting an example of mutually beneficial cooperation in the era of economic globalization.

    Guo noted that over the past 50 years, annual trade between China and the EU has skyrocketed from 2.4 billion U.S. dollars to 785.8 billion U.S. dollars, and the stock of mutual investment has expanded from near zero to almost 260 billion U.S. dollars. People-to-people exchanges have become increasingly frequent, and both sides have engaged in effective cooperation to address climate change and other issues, he said.

    “However, China-EU relations are also confronted with challenges,” Guo added. Certain individuals in the EU have played up the “partner-competitor-rival” characterization of bilateral relations, exaggerated individual trade and business issues and made baseless accusations against China on the Ukraine issue, unnecessarily hampering China-EU relations, he said.

    China holds that over the course of their 50-year history, China-EU relations have accumulated ample experience and positive forces to navigate any winds or tides that may come, and to overcome difficulties and meet challenges, he noted.

    He said that as the 25th China-EU Summit will be held soon, China-EU relations are at an important point as they build on past achievements and open up a new chapter.

    “China hopes that the EU will work with China, view its relations with China from a comprehensive, dialectical and forward-looking perspective, draw experience and inspiration from bilateral relations over the past 50 years, follow the trend of the times, meet the expectations of the two peoples and the international community, pool consensus, rise above differences, jointly plan for the cooperation in the next 50 years, and open up a brighter future for the China-EU comprehensive strategic partnership,” said Guo.

    MIL OSI China News

  • MIL-OSI United Nations: ‘Sustainable Development Goals Not Dream, but Plan’, Secretary-General Tells Political Forum

    Source: United Nations General Assembly and Security Council

    The following are UN Secretary-General António Guterres’ remarks to the ministerial segment of the high-level political forum on sustainable development, in New York today:

    This year’s high-level political forum arrives at a time of profound challenge — but also real possibility.  Despite enormous headwinds, we have seen just in the last two months what can be achieved when countries come together with conviction and focus.

    We saw it in Geneva, where the World Health Assembly adopted the Pandemic Agreement — a vital step toward a safer, more equitable global health architecture.  We saw it in Nice at the third UN Ocean Conference, where Governments committed to expand marine protected areas and tackle plastic pollution and illegal fishing.

    And we saw it in Sevilla at the fourth International Financing for Development Conference, where countries agreed on a new vision for global finance — one that expands fiscal space, lowers the cost of capital, and ensures developing countries have a stronger voice and participation in the organizations that shape their future.

    These are not isolated wins.  They are signs of momentum.  Signs that multilateralism can deliver.  Signs that transformation is not only necessary — it is possible.  And that is the spirit we bring to this high-level political forum.

    This forum is about renewing our common promise — to end poverty, protect the planet, and ensure prosperity for all.  We also recognize the deep linkages between development and peace.

    We meet against the backdrop of global conflicts that are pushing the Sustainable Development Goals (SDGs) further out of reach.  That’s why we must keep working for peace in the Middle East.

    Over the weekend in Gaza, we saw yet more mass shootings and killings of people seeking UN aid for their families — an atrocious and inhumane act which I utterly condemn.

    We need an immediate ceasefire in Gaza, the immediate release of all hostages, and unimpeded humanitarian access as a first step to achieve the two-State solution.  We need the ceasefire between Iran and Israel to hold.  We need a just and lasting peace in Ukraine based on the UN Charter, international law and UN resolutions.

    We need an end to the horror and bloodshed in Sudan.  And the list goes on, from the Democratic Republic of the Congo to Somalia, from the Sahel to Myanmar.

    At every step, we know sustainable peace requires sustainable development.  The Sustainable Development Goals are not a dream.  They are a plan.  A plan to keep our promises — to the most vulnerable people, to each other, and to future generations.  People win when we channel our energy into development.

    Since 2015, millions more people have access to electricity, clean cooking, and the internet.  Social protection now reaches over half the world’s population — up from just a quarter a decade ago.  More girls are completing school.  Child marriage is declining.  Women’s representation is growing — from the boardrooms of business to the halls of political power.

    But we must face a tough reality:  Only 35 per cent of SDG targets are on track or making moderate progress.  Nearly half are moving too slowly.  And 18 per cent are going backwards.

    Meanwhile, the global economy is slowing.  Trade tensions are rising.  Inequalities are growing.  Aid budgets are being decimated while military spending soars.  And mistrust, division and outright conflicts are placing the international problem-solving system under unprecedented strain.  We cannot sugarcoat these facts.  But we must not surrender to them either.

    The SDGs are still within reach — if we act with urgency and ambition.  This year’s forum focuses on five critical Goals:  health, gender equality, decent work, life below water, and global partnerships.  All are essential.  All are interconnected.  All can spur change across other goals.

    On health, COVID-19 exposed and deepened inequalities — and today, far too many people still lack access to basic care.  We know what works.  We must boost investment in universal health coverage, rooted in strong primary care and prevention, reaching those furthest behind first.

    On gender equality, gaps remain wide.  Women and girls face systemic barriers — from violence and discrimination to unpaid care and limited political voice.

    But we also see growing momentum:  from grassroots movements to national reforms.  Now is the time to turn that momentum into transformation — with rights-based policies, accountability, and real financing into programmes that support inclusion and equality for women and girls.

    On decent work, the global economy is leaving billions behind. Over 2 billion people are in informal jobs Youth unemployment is stubbornly high.  But we have tools to change this.

    The Global Accelerator on Jobs and Social Protection is helping countries invest in expanded social protection initiatives, skills training, and the creation of sustainable livelihoods — including in growing industries like clean energy.

    Tomorrow, I will deliver an address on the enormous opportunities of the renewables revolution.  The upcoming World Summit on Social Development can help spur further progress.

    On life below water, our ocean and the communities that count on it are paying the price of overfishing, pollution, and climate change. We must deliver on the commitments of the Nice Ocean Conference — to protect marine ecosystems and support the millions who depend on them.  And, finally, on global partnerships — SDG 17 — we need to strengthen all the elements that can support progress.

    This means investing in science, data, and local capacity. And harnessing digital innovation — including artificial intelligence — to accelerate progress, not deepen divides.

    Throughout, we must recognize the need to reform the unfair global financial system, which no longer represents today’s world or the challenges faced by developing countries.

    We must ensure a reform for developing countries to have a stronger voice and greater participation to help advance the Sustainable Development Goals on the ground.

    The Sevilla Commitment that emerged from the Conference on Financing for Development includes important steps:  Through new domestic and global commitments that can channel public and private finance to the areas of greatest need.

    By increasing the capacity of Governments to substantially mobilize domestic resources, including through tax reform.  And by establishing a more effective framework for debt relief and tripling the lending capacity of multilateral development banks to the benefit of developing countries.

    In the coming year, we must keep building.  We must strengthen and scale up partnerships that deliver — including with the private sector and civil society organizations and local authorities.

    We must embed long-term thinking into every decision, as we committed in the Declaration on Future Generations.  And we must continue to learn from each other.

    Voluntary national reviews — the backbone of this forum — are more than reports.  They are acts of accountability.  They are journeys of self-discovery as countries develop and build.  And they are templates for other countries to follow and learn from.

    By the end of this high-level political forum, we will have surpassed 400 reviews — with over 150 countries presenting more than once.  That is a powerful signal of commitment.  A clear demonstration that solutions exist and can be replicated and expanded.

    With five years left, it’s time to transform these sparks of transformation into a blaze of progress — for all countries.  Let us act with determination, justice and direction. And let’s deliver on development — for people and for planet.

    MIL OSI United Nations News

  • MIL-OSI China: China urges EU to stop harming legitimate interests of Chinese enterprises

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

    China on Monday called on the European Union (EU) to stop damaging the legitimate interests of Chinese enterprises without any factual ground, and said it will take necessary measures to protect their lawful rights and interests.

    Chinese foreign ministry spokesperson Guo Jiakun made the remarks at the daily press briefing when asked to comment on the EU’s latest sanctions against Russia, which involve multiple Chinese enterprises and banks.

    “I would like to emphasize that China has always opposed unilateral sanctions that have no basis in international laws and are not authorized by the UN Security Council,” Guo said.

    Regarding the Ukraine crisis, he said China has been committed to promoting peace talks, has never provided lethal weapons to the conflicting parties, and has exercised strict control over the export of dual-use items.

    The normal exchanges and cooperation between Chinese and Russian enterprises should not be interfered with or affected, he added.

    MIL OSI China News

  • MIL-OSI China: UK launches 50-Day military support campaign for Ukraine

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

    British Defence Secretary John Healey on Monday announced the launch of a 50-day military support campaign for Ukraine, aligning with a recent warning issued by U.S. President Donald Trump to Russia.

    Healey said on social media platform X that at the Ukraine Defence Contact Group (UDCG) meeting held on Monday, participating countries reached a new agreement to supply critical air defence ammunition to Ukraine, “as part of a 50-day drive to arm Ukraine and force Putin to the negotiating table.”

    Last week, Trump said that he had secured an agreement with NATO allies to facilitate large-scale arms deliveries to Ukraine. He also warned Russia that it would face a second round of tariffs if it fails to reach a peace deal within 50 days.

    At the UDCG meeting, Healey affirmed Britain’s support, saying that Britain “backs this policy” and will fully participate to ensure its success, according to French news outlet AFP.

    Healey also revealed that Britain and Germany have agreed to jointly provide air defence missiles to Ukraine. The partnership is part of a wider European initiative aimed at strengthening Ukraine’s defensive capabilities.

    According to a press release from the British Ministry of Defence on Monday, Britain has already delivered more than 150 million pounds (202.5 million U.S. dollars) worth of air defence missiles and artillery to Ukraine over the past two months. The country is also ramping up procurement efforts to provide hundreds more air defence missiles and thousands of artillery shells.

    In total, Britain is expected to spend at least 700 million pounds on air defence and artillery support for Ukraine this year, including the 150 million pounds worth of equipment already delivered, according to the release. (

    MIL OSI China News

  • MIL-OSI United Nations: World News in Brief: Houthi-Israel tensions, Sudan cholera cases rise, deadly attacks in Ukraine

    Source: United Nations 2

    These strikes occurred while the UN Mission to support the Hudaydah Agreement – established in 2018 to support the ceasefire between the Government of Yemen and the Houthis – was patrolling at locations to the northern parts of the Port. 

    The Secretary-General also expressed deep concern about the continuing missile and drone strikes conducted by the Houthis against Israel. 

    Risk of further escalation

    Concerned about the risk of further escalation, the UN recalled that international law, together with international humanitarian law, must be respected by all parties at all times, including the obligations to respect and protect civilian infrastructure. 

    “The Secretary-General remains profoundly concerned about the risk of further escalation in the region,” said Mr. Dujarric. 

    As the UN Chief reiterated his call for “all involved to cease all military actions and exercise maximum restraint,” he also renewed his call for the immediate and unconditional release of all UN and other personnel arbitrarily detained by the Houthi authorities. 

    Sudan: Crisis worsens as cholera and floods drive needs higher  

    The humanitarian crisis in Sudan continues to deepen as cholera spreads, flooding displaces communities, and thousands of people return to areas with little to no support, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA).

    In the locality of Tawiola, in North Darfur State, over 1,300 confirmed cases of cholera in just one week were reported on Sunday by an association of Sudanese doctors. 

    While local and international partners have set up cholera treatment centres, the current capacity is far from sufficient to cope with the rising caseload.  

    As Tawila hosts several hundred thousand displaced people, partners on the ground have been struggling to keep pace with the growing needs, notably as such needs are set to increase as the upcoming rainy season sets in. 

    Vulnerable returnees 

    Across Sudan, people returning to their communities face serious challenges, including the lack of essential services and the threat posed by explosive remnants of war. 

    In White Nile State, some residents have begun returning after being displaced for a year. Yet, an assessment by OCHA and its partners last week found that health, water, sanitation and hygiene support is urgently needed, even more so ahead of the rainy season.

    Similarly, in eastern Sudan, OCHA warns that many families returning to Kassala State are struggling to cope with the impact of heavy rains and flooding, as heavy rains destroyed more than 280 homes in the village of Tirik earlier in July. 

    Additionally, as insecurity continues to impede the work of humanitarians, challenges faced by returnee families often lead them to return to displacement sites, undermining the sustainability of return efforts. 

    In this context, OCHA called for increased international support to meet soaring needs across Sudan. 

    Ukraine: At least 20 civilians reportedly killed in recent attacks  

    In Ukraine, attacks over the weekend and into Monday reportedly killed over 20 civilians and injured more than 100 others, including several children, according to authorities.

    The strikes affected the capital Kyiv, as well as western and front-line regions, damaging homes, schools, and a health facility.

    In Kyiv, a kindergarten, metro stations, shops and residential buildings were hit. 

    The Ivano-Frakivsk region in western Ukraine which hosts many displaced people and had previously been less affected by hostilities, suffered the largest attack since the full-scale Russian invasion in February 2022.  

    Frontline regions  

    Meanwhile, in areas near the frontlines in the Donetsk, Dnipro and Kherson regions, hostilities caused civilian casualties and further damage to schools, a health facility, and apartment buildings. Odesa, Kharkiv, Sumy and other regions also reported that homes and shops were destroyed.  

    With support from UN agencies, and coordinating with local authorities and first respondents, humanitarian organizations on the ground continue to provide shelter materials, non-food items, legal aid, psychosocial support and assistance for children across the country.  

    MIL OSI United Nations News

  • MIL-OSI: RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 21, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended June 30, 2025.

    Second Quarter 2025 Highlights

    • Net income totaled $9.3 million, or $0.52 diluted earnings per share
    • Return on average assets of 0.93%, compared to 0.24% for the quarter ended March 31, 2025
    • Net interest margin expanded to 2.92%, up from 2.88% for the quarter ended March 31, 2025
    • Net loans held for investment growth of $91.6 million, or 12% annualized
    • Nonperforming assets decreased $3.6 million, or 5.5%, to $61.0 million at June 30, 2025, down from $64.6 million at March 31, 2025
    • Book value and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025

    The Company reported net income of $9.3 million, or $0.52 diluted earnings per share, for the quarter ended June 30, 2025, compared to net income of $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025. Net income for the second quarter of 2025 included income from an Employee Retention Credit (“ERC”) of $5.2 million (pre-tax), which was included in other income, offset partially by professional and advisory costs associated with filing and determining eligibility for the ERC totaling $1.2 million (pre-tax).

    “Another quarter of strong loan growth and stable loan yields drove increasing net interest income and margin expansion in the second quarter,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “We also benefited from the receipt of a $5.2 million ERC in the second quarter. We continue to work through our nonperforming assets and remain focused on resolving our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Net Interest Income and Net Interest Margin

    Net interest income was $27.3 million for the second quarter of 2025, compared to $26.2 million for the first quarter of 2025. The $1.2 million increase was due to a $1.9 million increase in interest income, offset by a $698,000 increase in interest expense. The increase in interest income was mostly due to a $2.1 million increase in interest and fees on loans. The increase in interest expense was due to a $433,000 increase in interest on borrowings and a $265,000 increase in interest on deposits.

    The net interest margin (“NIM”) was 2.92% for the second quarter of 2025, an increase of 4 basis points from 2.88% for the first quarter of 2025. The NIM expansion was due to a 3 basis point increase in the yield on average interest-earning assets, combined with a 1 basis point decrease in the overall cost of funds. The yield on average interest-earning assets increased to 5.79% for the second quarter of 2025 from 5.76% for the first quarter of 2025 due mainly to a 2 basis point increase in the yield on average loans to 6.03%. Average loans represented 85% of average interest-earning assets in the second quarter of 2025, as compared to 84% in the first quarter of 2025.

    The average cost of funds decreased to 3.14% for the second quarter of 2025 from 3.15% for the first quarter of 2025, driven by an 11 basis point decrease in the average cost of interest-bearing deposits, partially offset by a 75 basis point increase in the average cost of total borrowings. The average cost of interest-bearing deposits decreased to 3.66% for the second quarter of 2025 from 3.77% for the first quarter of 2025. The overall funding mix for the second quarter of 2025 remained relatively unchanged from the first quarter of 2025 with total deposits representing 90% of interest bearing liabilities and average noninterest-bearing deposits representing 17% of average total deposits. The average cost of borrowings increased as $150 million in long term FHLB advances matured during the first quarter of 2025, the majority of which were replaced and repriced at current market rates. The all-in average spot rate for total deposits was 2.95% at June 30, 2025.

    Provision for Credit Losses

    The provision for credit losses was $2.4 million for the second quarter of 2025 compared to $6.7 million for the first quarter of 2025. The second quarter of 2025 provision for credit losses reflected an increase in general reserves of $1.5 million due mainly to net loan growth, and an increase in a specific reserve of $924,000 related to one lending relationship. The second quarter provision also took into consideration factors such as changes in the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including changes in loans 30-89 days past due, nonperforming loans, special mention and substandard loans during the period. Net charge-offs of $3.3 million in the second quarter related to loans which had these specific reserves at March 31, 2025. Net charge-offs on an annualized basis represented 0.42% of average loans for the second quarter of 2025 compared to 0.35% for the first quarter of 2025.

    Noninterest Income

    Noninterest income for the second quarter of 2025 was $8.5 million, an increase of $6.2 million from $2.3 million for the first quarter of 2025. The second quarter of 2025 included other income of $5.2 million for the receipt of ERC funds from the IRS. The ERC was a grant program established under the Coronavirus Aid, Relief, and Economic Security Act in response to the COVID-19 pandemic and these funds relate to qualifying amended payroll tax returns the Company filed for the first and second quarters of 2021.

    Upon receipt of the ERC funds, certain professional and tax advisory costs associated with the assessment and compilation of the ERC refunds became due and payable. These amounts totaled $1.2 million and are included in legal and professional expense in our consolidated statements of income for the second quarter of 2025. There were no such ERC amounts received or associated costs recognized during the first quarter of 2025 or the quarter ended June 30, 2024.

    The second quarter of 2025 also included a higher gain on sale of loans of $277,000 and recoveries associated with a fully-charged off loan acquired in a bank acquisition of $350,000, the latter included in “other income.”

    Noninterest Expense

    Noninterest expense for the second quarter of 2025 was $20.5 million, an increase of $2.0 million from $18.5 million for the first quarter of 2025. This increase was mostly due to higher legal and professional expense of $1.4 million, of which $1.2 million was attributed to the aforementioned ERC advisory costs, and a $437,000 increase in salaries and employee benefits expenses. The increase in compensation includes higher incentives related to sustained production levels, the impact of annual pay increases, and approximately $330,000 in costs related to executive management transitions, offset by lower payroll taxes. The efficiency ratio was 57.2% for the second quarter of 2025, down from 65.1% for the first quarter of 2025 due mostly to higher noninterest income related to the ERC, partially offset by higher noninterest expense related to the ERC advisory costs.

    Income Taxes

    The effective tax rate was 27.8% for the second quarter of 2025 and 28.2% for the first quarter of 2025. 

    Balance Sheet

    At June 30, 2025, total assets were $4.1 billion, an $80.6 million increase compared to March 31, 2025, and a $221.9 million increase compared to June 30, 2024.

    Loan and Securities Portfolio

    Loans held for investment (“HFI”) totaled $3.2 billion as of June 30, 2025, an increase of $91.6 million, or 12% annualized, compared to March 31, 2025 and an increase of $187.0 million, or 6.1%, compared to June 30, 2024. The second quarter of 2025 net loan growth included $182.8 million in new production with an average yield of 6.76%. The increase from March 31, 2025 was primarily due to a $57.3 million increase in single-family residential (“SFR”) mortgage loans, a $28.0 million increase in commercial real estate (“CRE”) loans, a $5.3 million increase in Small Business Administration (“SBA”) loans and a $2.7 million increase in commercial and industrial (“C&I”) loans. The loan to deposit ratio was 101.5% at June 30, 2025, compared to 100.0% at March 31, 2025 and 100.9% at June 30, 2024. 

    As of June 30, 2025, available for sale securities (“AFS”) totaled $413.1 million, an increase of $35.0 million from March 31, 2025, primarily related to purchases of $68.0 million, offset by maturities and amortization of $33.0 million during the second quarter of 2025. As of June 30, 2025, net unrealized losses totaled $23.1 million, a $1.9 million decrease, when compared to net unrealized losses of $25.0 million as of March 31, 2025.

    Deposits

    Total deposits were $3.2 billion as of June 30, 2025, an increase of $45.6 million, or 5.8% annualized, compared to March 31, 2025 and an increase of $164.6 million, or 5.4%, compared to June 30, 2024. The increase during the second quarter of 2025 was due to a $29.9 million increase in interest-bearing deposits coupled with a $15.7 million increase in noninterest-bearing deposits. The increase in interest-bearing deposits included increases in time deposits of $59.5 million, offset by decreases in interest-bearing non-maturity deposits of $29.5 million. Wholesale deposits totaled $183.8 million at June 30, 2025, an increase of $25.3 million compared to $158.5 million at March 31, 2025. Noninterest-bearing deposits totaled $543.9 million and represented 17.1% of total deposits at June 30, 2025 compared to $528.2 million and 16.8% at March 31, 2025.

    Credit Quality

    Nonperforming assets totaled $61.0 million, or 1.49% of total assets, at June 30, 2025, down from $64.6 million, or 1.61% of total assets, at March 31, 2025. The $3.6 million decrease in nonperforming assets was due to $3.3 million in net charge-offs and $1.7 million in payoffs and paydowns, partially offset by $1.4 million in additions from loans migrating to nonaccrual status in the second quarter of 2025. Nonperforming assets included one $4.2 million other real estate owned (included in “accrued interest and other assets”) at June 30, 2025 and March 31, 2025.

    Special mention loans totaled $91.3 million, or 2.82% of total loans, at June 30, 2025, up from $64.3 million, or 2.05% of total loans, at March 31, 2025. The $27.0 million increase was primarily due to the addition of loans totaling $30.1 million and $1.6 million in balance increases, partially offset by the downgrade of two CRE loans totaling $4.0 million to substandard-rated loans and payoffs and paydowns totaling $660,000. As of June 30, 2025, all special mention loans were paying current.

    Substandard loans totaled $91.0 million at June 30, 2025, up from $76.4 million at March 31, 2025. The $14.6 million increase was primarily due to the downgrades totaling $20.6 million, partially offset by net charge-offs totaling $3.3 million and payoffs and paydowns totaling $2.7 million. Of the total substandard loans at June 30, 2025, there were $34.2 million on accrual status.

    30-89 day delinquent loans, excluding nonperforming loans, totaled $18.0 million, or 0.56% of total loans, at June 30, 2025, up from $5.9 million, or 0.19% of total loans, at March 31, 2025. The $12.1 million increase was mostly due to $15.5 million in new delinquent loans, offset by $2.2 million in loans returning to current status, $798,000 in loans migrating to nonaccrual status, and $427,000 in paydowns and payoffs. The additions include an $8.5 million CRE loan that has since been brought current.

    As of June 30, 2025, the allowance for credit losses totaled $51.6 million and was comprised of an allowance for loan losses of $51.0 million and a reserve for unfunded commitments of $629,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $52.6 million, comprised of an allowance for loan losses of $51.9 million and a reserve for unfunded commitments of $629,000 at March 31, 2025. The $918,000 decrease in the allowance for credit losses for the second quarter of 2025 was due to net charge-offs of $3.3 million, offset by a $2.4 million provision for credit losses. The allowance for loan losses as a percentage of loans HFI decreased to 1.58% at June 30, 2025, compared to 1.65% at March 31, 2025, due mainly to net charge-offs of amounts included in specific reserves at March 31, 2025. The allowance for loan losses as a percentage of nonperforming loans HFI was 90% at June 30, 2025, an increase from 86% at March 31, 2025. 

      For the Three Months Ended June 30, 2025     For the Six Months Ended June 30, 2025  
    (dollars in thousands) Allowance
    for
    loan losses
        Reserve for
    unfunded
    loan commitments
        Allowance
    for
    credit losses
        Allowance
    for loan
    losses
        Reserve for
    unfunded
    loan
    commitments
        Allowance
    for credit
    losses
     
    Beginning balance $ 51,932     $ 629     $ 52,561     $ 47,729     $ 729     $ 48,458  
    Provision for (reversal of) credit losses   2,387             2,387       9,233       (100 )     9,133  
    Less loans charged-off   (3,339 )           (3,339 )     (6,065 )           (6,065 )
    Recoveries on loans charged-off   34             34       117             117  
    Ending balance $ 51,014     $ 629     $ 51,643     $ 51,014     $ 629     $ 51,643  
     

    Shareholders’ Equity

    At June 30, 2025, total shareholders’ equity was $517.7 million, a $7.3 million increase compared to March 31, 2025, and a $6.4 million increase compared to June 30, 2024. The increase in shareholders’ equity for the second quarter of 2025 was due to net income of $9.3 million, lower net unrealized losses on AFS securities of $1.3 million and equity compensation activity of $1.1 million, offset by common stock cash dividends paid totaling $2.9 million and common stock repurchases totaling $1.5 million. The increase in shareholders’ equity for the last twelve months was due to net income of $23.0 million, lower net unrealized losses on AFS securities of $4.9 million, and equity compensation activity of $2.5 million, offset by common stock repurchases totaling $12.5 million and common stock cash dividends paid totaling $11.5 million. Book value per share and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025 and up from $28.12 and $24.06 at June 30, 2024.

    Dividend Announcement

    The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 12, 2025 to shareholders of record on July 31, 2025.

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Corporate Overview

    RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2025, the Company had total assets of $4.1 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

    Conference Call

    Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, July 22, 2025, to discuss the Company’s second quarter 2025 financial results.

    To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 710803, conference ID RBBQ225. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52690, approximately one hour after the conclusion of the call and will remain available through August 05, 2025.

    The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

    Disclosure

    This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

    Safe Harbor

    Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Companys internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Companys internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (U.S.) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
    (Dollars in thousands)
     
      June 30,     March 31,     December 31,     September 30,     June 30,  
      2025     2025     2024     2024     2024  
    Assets                                      
    Cash and due from banks $ 27,338     $ 25,315     $ 27,747     $ 26,388     $ 23,313  
    Interest-earning deposits with financial institutions   164,514       213,508       229,998       323,002       229,456  
    Cash and cash equivalents   191,852       238,823       257,745       349,390       252,769  
    Interest-earning time deposits with financial institutions   600       600       600       600       600  
    Investment securities available for sale   413,142       378,188       420,190       305,666       325,582  
    Investment securities held to maturity   4,186       5,188       5,191       5,195       5,200  
    Loans held for sale         655       11,250       812       3,146  
    Loans held for investment   3,234,695       3,143,063       3,053,230       3,091,896       3,047,712  
    Allowance for loan losses   (51,014 )     (51,932 )     (47,729 )     (43,685 )     (41,741 )
    Net loans held for investment   3,183,681       3,091,131       3,005,501       3,048,211       3,005,971  
    Premises and equipment, net   23,945       24,308       24,601       24,839       25,049  
    Federal Home Loan Bank (FHLB) stock   15,000       15,000       15,000       15,000       15,000  
    Cash surrender value of bank owned life insurance   61,111       60,699       60,296       59,889       59,486  
    Goodwill   71,498       71,498       71,498       71,498       71,498  
    Servicing assets   6,482       6,766       6,985       7,256       7,545  
    Core deposit intangibles   1,667       1,839       2,011       2,194       2,394  
    Right-of-use assets   25,554       26,779       28,048       29,283       30,530  
    Accrued interest and other assets   91,322       87,926       83,561       70,644       63,416  
    Total assets $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    Liabilities and shareholders’ equity                                      
    Deposits:                                      
    Noninterest-bearing demand $ 543,885     $ 528,205     $ 563,012     $ 543,623     $ 542,971  
    Savings, NOW and money market accounts   691,679       721,216       663,034       666,089       647,770  
    Time deposits, $250,000 and under   1,010,674       1,000,106       1,007,452       1,052,462       1,014,189  
    Time deposits, greater than $250,000   941,993       893,101       850,291       830,010       818,675  
    Total deposits   3,188,231       3,142,628       3,083,789       3,092,184       3,023,605  
    FHLB advances   180,000       160,000       200,000       200,000       150,000  
    Long-term debt, net of issuance costs   119,720       119,624       119,529       119,433       119,338  
    Subordinated debentures   15,265       15,211       15,156       15,102       15,047  
    Lease liabilities – operating leases   27,294       28,483       29,705       30,880       32,087  
    Accrued interest and other liabilities   41,877       33,148       36,421       23,150       16,818  
    Total liabilities   3,572,387       3,499,094       3,484,600       3,480,749       3,356,895  
    Shareholders’ equity:                                      
    Common stock   259,863       260,284       259,957       259,280       266,160  
    Additional paid-in capital   3,579       3,360       3,645       3,520       3,456  
    Retained earnings   270,152       263,885       264,460       262,946       262,518  
    Non-controlling interest   72       72       72       72       72  
    Accumulated other comprehensive loss, net   (16,013 )     (17,295 )     (20,257 )     (16,090 )     (20,915 )
    Total shareholders’ equity   517,653       510,306       507,877       509,728       511,291  
    Total liabilities and shareholders’ equity $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (In thousands, except share and per share data)
     
      For the Three Months Ended     For the Six Months Ended  
      June 30,
    2025
        March 31,
    2025
        June 30,
    2024
        June 30,
    2025
        June 30,
    2024
     
    Interest and dividend income:                                      
    Interest and fees on loans $ 47,687     $ 45,621     $ 45,320     $ 93,308     $ 90,867  
    Interest on interest-earning deposits   1,750       2,014       3,353       3,764       8,393  
    Interest on investment securities   4,213       4,136       3,631       8,349       7,242  
    Dividend income on FHLB stock   324       330       327       654       658  
    Interest on federal funds sold and other   231       235       255       466       521  
    Total interest and dividend income   54,205       52,336       52,886       106,541       107,681  
    Interest expense:                                      
    Interest on savings deposits, NOW and money market accounts   4,567       4,468       4,953       9,035       9,431  
    Interest on time deposits   19,250       19,084       21,850       38,334       45,172  
    Interest on long-term debt and subordinated debentures   1,634       1,632       1,679       3,266       3,358  
    Interest on FHLB advances   1,420       989       439       2,409       878  
    Total interest expense   26,871       26,173       28,921       53,044       58,839  
    Net interest income before provision for credit losses   27,334       26,163       23,965       53,497       48,842  
    Provision for credit losses   2,387       6,746       557       9,133       557  
    Net interest income after provision for credit losses   24,947       19,417       23,408       44,364       48,285  
    Noninterest income:                                      
    Service charges and fees   1,060       1,017       1,064       2,077       2,056  
    Gain on sale of loans   358       81       451       439       763  
    Loan servicing fees, net of amortization   541       588       579       1,129       1,168  
    Increase in cash surrender value of life insurance   411       403       385       814       767  
    Gain on OREO               292             1,016  
    Other income   6,108       206       717       6,314       1,090  
    Total noninterest income   8,478       2,295       3,488       10,773       6,860  
    Noninterest expense:                                      
    Salaries and employee benefits   11,080       10,643       9,533       21,723       19,460  
    Occupancy and equipment expenses   2,377       2,407       2,439       4,784       4,882  
    Data processing   1,713       1,602       1,466       3,315       2,886  
    Legal and professional   2,904       1,515       1,260       4,419       2,140  
    Office expenses   405       408       352       813       708  
    Marketing and business promotion   212       197       189       409       361  
    Insurance and regulatory assessments   709       730       981       1,439       1,963  
    Core deposit premium   172       172       201       344       402  
    Other expenses   921       848       703       1,769       1,291  
    Total noninterest expense   20,493       18,522       17,124       39,015       34,093  
    Income before income taxes   12,932       3,190       9,772       16,122       21,052  
    Income tax expense   3,599       900       2,527       4,499       5,771  
    Net income $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
                                           
    Net income per share                                      
    Basic $ 0.53     $ 0.13     $ 0.39     $ 0.66     $ 0.83  
    Diluted $ 0.52     $ 0.13     $ 0.39     $ 0.65     $ 0.82  
    Cash dividends declared per common share $ 0.16     $ 0.16     $ 0.16     $ 0.32     $ 0.32  
    Weighted-average common shares outstanding                                      
    Basic   17,746,607       17,727,712       18,375,970       17,737,212       18,488,623  
    Diluted   17,797,735       17,770,588       18,406,897       17,784,237       18,529,299  
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      For the Three Months Ended  
      June 30, 2025     March 31, 2025     June 30, 2024  
      Average     Interest     Yield /     Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                                                      
    Cash and cash equivalents(1) $ 163,838     $ 1,980       4.85 %   $ 194,236     $ 2,249       4.70 %   $ 255,973     $ 3,608       5.67 %
    FHLB Stock   15,000       324       8.66 %     15,000       330       8.92 %     15,000       327       8.77 %
    Securities                                                                      
    Available for sale(2)   399,414       4,189       4.21 %     390,178       4,113       4.28 %     318,240       3,608       4.56 %
    Held to maturity(2)   5,028       48       3.83 %     5,189       49       3.83 %     5,203       46       3.56 %
    Total loans(3)   3,171,570       47,687       6.03 %     3,079,224       45,621       6.01 %     3,017,050       45,320       6.04 %
    Total interest-earning assets   3,754,850     $ 54,228       5.79 %     3,683,827     $ 52,362       5.76 %     3,611,466     $ 52,909       5.89 %
    Total noninterest-earning assets   254,029                       260,508                       240,016                  
    Total average assets $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
                                                                           
    Interest-bearing liabilities                                                                      
    NOW $ 66,755       368       2.21 %   $ 61,222     $ 321       2.13 %   $ 56,081     $ 276       1.98 %
    Money market   482,669       3,774       3.14 %     463,443       3,625       3.17 %     431,559       3,877       3.61 %
    Saving deposits   141,411       425       1.21 %     155,116       522       1.36 %     164,913       800       1.95 %
    Time deposits, $250,000 and under   996,249       9,768       3.93 %     989,622       10,046       4.12 %     1,049,666       12,360       4.74 %
    Time deposits, greater than $250,000   922,540       9,482       4.12 %     864,804       9,038       4.24 %     772,255       9,490       4.94 %
    Total interest-bearing deposits   2,609,624       23,817       3.66 %     2,534,207       23,552       3.77 %     2,474,474       26,803       4.36 %
    FHLB advances   159,286       1,420       3.58 %     176,833       989       2.27 %     150,000       439       1.18 %
    Long-term debt   119,657       1,296       4.34 %     119,562       1,295       4.39 %     119,275       1,296       4.37 %
    Subordinated debentures   15,230       338       8.90 %     15,175       337       9.01 %     15,011       383       10.26 %
    Total interest-bearing liabilities   2,903,797       26,871       3.71 %     2,845,777       26,173       3.73 %     2,758,760       28,921       4.22 %
    Noninterest-bearing liabilities                                                                      
    Noninterest-bearing deposits   526,113                       520,145                       529,450                  
    Other noninterest-bearing liabilities   65,278                       66,151                       51,087                  
    Total noninterest-bearing liabilities   591,391                       586,296                       580,537                  
    Shareholders’ equity   513,691                       512,262                       512,185                  
    Total liabilities and shareholders’ equity $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
    Net interest income / interest rate spreads         $ 27,357       2.08 %           $ 26,189       2.03 %           $ 23,988       1.67 %
    Net interest margin                   2.92 %                     2.88 %                     2.67 %
                                                                           
    Total cost of deposits $ 3,135,737     $ 23,817       3.05 %   $ 3,054,352     $ 23,552       3.13 %   $ 3,003,924     $ 26,803       3.59 %
    Total cost of funds $ 3,429,910     $ 26,871       3.14 %   $ 3,365,922     $ 26,173       3.15 %   $ 3,288,210     $ 28,921       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      Six Months Ended June 30,  
      2025     2024  
      Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                              
    Cash and cash equivalents(1) $ 178,953     $ 4,230       4.77 %   $ 310,476     $ 8,914       5.77 %
    FHLB Stock   15,000       654       8.79 %     15,000       658       8.82 %
    Securities                                              
    Available for sale(2)   394,822       8,302       4.24 %     319,127       7,197       4.54 %
    Held to maturity(2)   5,108       97       3.83 %     5,205       94       3.63 %
    Total loans(3)   3,125,652       93,308       6.02 %     3,017,737       90,867       6.06 %
    Total interest-earning assets   3,719,535     $ 106,591       5.78 %     3,667,545     $ 107,730       5.91 %
    Total noninterest-earning assets   257,250                       243,178                  
    Total average assets $ 3,976,785                     $ 3,910,723                  
                                                   
    Interest-bearing liabilities                                              
    NOW $ 64,004       689       2.17 %   $ 57,513     $ 574       2.01 %
    Money market   473,109       7,399       3.15 %     421,655       7,403       3.53 %
    Saving deposits   148,225       947       1.29 %     161,070       1,454       1.82 %
    Time deposits, $250,000 and under   992,954       19,815       4.02 %     1,112,735       26,165       4.73 %
    Time deposits, greater than $250,000   893,832       18,519       4.18 %     778,713       19,007       4.91 %
    Total interest-bearing deposits   2,572,124       47,369       3.71 %     2,531,686       54,603       4.34 %
    FHLB advances   168,011       2,409       2.89 %     150,000       878       1.18 %
    Long-term debt   119,610       2,591       4.37 %     119,228       2,591       4.37 %
    Subordinated debentures   15,203       675       8.95 %     14,984       767       10.29 %
    Total interest-bearing liabilities   2,874,948       53,044       3.72 %     2,815,898       58,839       4.20 %
    Noninterest-bearing liabilities                                              
    Noninterest-bearing deposits   523,145                       528,898                  
    Other noninterest-bearing liabilities   65,711                       53,441                  
    Total noninterest-bearing liabilities   588,856                       582,339                  
    Shareholders’ equity   512,981                       512,486                  
    Total liabilities and shareholders’ equity $ 3,976,785                     $ 3,910,723                  
    Net interest income / interest rate spreads         $ 53,547       2.06 %           $ 48,891       1.71 %
    Net interest margin                   2.90 %                     2.68 %
                                                   
    Total cost of deposits $ 3,095,269     $ 47,369       3.09 %   $ 3,060,584     $ 54,603       3.59 %
    Total cost of funds $ 3,398,093     $ 53,044       3.15 %   $ 3,344,796     $ 58,839       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
      At or for the Three Months Ended     At or for the Six Months Ended June 30,  
      June 30,     March 31,     June 30,                  
      2025     2025     2024     2025     2024  
    Per share data (common stock)                                      
    Book value $ 29.25     $ 28.77     $ 28.12     $ 29.25     $ 28.12  
    Tangible book value(1) $ 25.11     $ 24.63     $ 24.06     $ 25.11     $ 24.06  
    Performance ratios                                      
    Return on average assets, annualized   0.93 %     0.24 %     0.76 %     0.59 %     0.79 %
    Return on average shareholders’ equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized(1)   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %
    Noninterest income to average assets, annualized   0.85 %     0.24 %     0.36 %     0.55 %     0.35 %
    Noninterest expense to average assets, annualized   2.05 %     1.90 %     1.79 %     1.98 %     1.75 %
    Yield on average earning assets   5.79 %     5.76 %     5.89 %     5.78 %     5.91 %
    Yield on average loans   6.03 %     6.01 %     6.04 %     6.02 %     6.06 %
    Cost of average total deposits(2)   3.05 %     3.13 %     3.59 %     3.09 %     3.59 %
    Cost of average interest-bearing deposits   3.66 %     3.77 %     4.36 %     3.71 %     4.34 %
    Cost of average interest-bearing liabilities   3.71 %     3.73 %     4.22 %     3.72 %     4.20 %
    Net interest spread   2.08 %     2.03 %     1.67 %     2.06 %     1.71 %
    Net interest margin   2.92 %     2.88 %     2.67 %     2.90 %     2.68 %
    Efficiency ratio(3)   57.22 %     65.09 %     62.38 %     60.70 %     61.21 %
    Common stock dividend payout ratio   30.19 %     123.08 %     41.03 %     48.48 %     38.55 %

    ___________

    (1 ) Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
    (2 ) Total deposits include non-interest bearing deposits and interest-bearing deposits.
    (3 ) Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
    (Dollars in thousands)
     
      At or for the quarter ended  
      June 30,     March 31,     June 30,  
      2025     2025     2024  
    Credit Quality Data:                      
    Special mention loans $ 91,317     $ 64,279     $ 19,520  
    Special mention loans to total loans HFI   2.82 %     2.05 %     0.64 %
    Substandard loans $ 91,019     $ 76,372     $ 63,076  
    Substandard loans to total loans HFI   2.81 %     2.43 %     2.07 %
    Loans 30-89 days past due, excluding nonperforming loans $ 18,003     $ 5,927     $ 11,270  
    Loans 30-89 days past due, excluding nonperforming loans, to total loans   0.56 %     0.19 %     0.37 %
    Nonperforming loans $ 56,817     $ 60,380     $ 54,589  
    OREO $ 4,170     $ 4,170     $  
    Nonperforming assets $ 60,987     $ 64,550     $ 54,589  
    Nonperforming loans to total loans HFI   1.76 %     1.92 %     1.79 %
    Nonperforming assets to total assets   1.49 %     1.61 %     1.41 %
                           
    Allowance for loan losses $ 51,014     $ 51,932     $ 41,741  
    Allowance for loan losses to total loans HFI   1.58 %     1.65 %     1.37 %
    Allowance for loan losses to nonperforming loans HFI   89.79 %     86.01 %     76.46 %
    Net charge-offs $ 3,305     $ 2,643     $ 551  
    Net charge-offs to average loans   0.42 %     0.35 %     0.07 %
                           
    Capitalratios(1)                      
    Tangible common equity to tangible assets(2)   11.07 %     11.10 %     11.53 %
    Tier 1 leverage ratio   12.04 %     12.07 %     12.48 %
    Tier 1 common capital to risk-weighted assets   17.61 %     17.87 %     18.89 %
    Tier 1 capital to risk-weighted assets   18.17 %     18.45 %     19.50 %
    Total capital to risk-weighted assets   24.00 %     24.42 %     25.67 %

    ___________

    (1 ) June 30, 2025 capital ratios are preliminary.
    (2 ) Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
    Loan Portfolio Detail As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $     %     $     %  
    Loans:                                          
    Commercial and industrial $ 138,263       4.3 %   $ 135,538       4.3 %   $ 126,649       4.2 %
    SBA   55,984       1.7 %     50,651       1.6 %     50,323       1.7 %
    Construction and land development   157,970       4.9 %     158,883       5.1 %     202,459       6.6 %
    Commercial real estate(1)   1,273,442       39.4 %     1,245,402       39.6 %     1,190,207       39.1 %
    Single-family residential mortgages   1,603,114       49.6 %     1,545,822       49.2 %     1,467,802       48.2 %
    Other loans   5,922       0.1 %     6,767       0.2 %     10,272       0.2 %
    Total loans $ 3,234,695       100.0 %   $ 3,143,063       100.0 %   $ 3,047,712       100.0 %
    Allowance for loan losses   (51,014 )         (51,932 )             (41,741 )        
    Total loans, net $ 3,183,681         $ 3,091,131             $ 3,005,971          

    ___________

    (1 ) Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.
    Deposits As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $   %     $   %  
    Deposits:                                          
    Noninterest-bearing demand $ 543,885       17.1 %   $ 528,205       16.8 %   $ 542,971       18.0 %
    Savings, NOW and money market accounts   691,679       21.7 %     721,216       22.9 %     647,770       21.4 %
    Time deposits, $250,000 and under   848,379       26.6 %     863,962       27.5 %     921,712       30.5 %
    Time deposits, greater than $250,000   920,481       28.8 %     870,708       27.8 %     790,478       26.1 %
    Wholesale deposits(1)   183,807       5.8 %     158,537       5.0 %     120,674       4.0 %
    Total deposits $ 3,188,231       100.0 %   $ 3,142,628       100.0 %   $ 3,023,605       100.0 %

    ___________

    (1 ) Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

    Non-GAAP Reconciliations

    Tangible Book Value Reconciliations

    Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of as of the dates indicated.

                         
    (dollars in thousands, except share and per share data) June 30, 2025     March 31, 2025     June 30, 2024  
    Tangible common equity:                      
    Total shareholders’ equity $ 517,653     $ 510,306     $ 511,291  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible common equity $ 444,488     $ 436,969     $ 437,399  
    Tangible assets:                      
    Total assets-GAAP $ 4,090,040     $ 4,009,400     $ 3,868,186  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible assets $ 4,016,875     $ 3,936,063     $ 3,794,294  
    Common shares outstanding   17,699,091       17,738,628       18,182,154  
    Common equity to assets ratio   12.66 %     12.73 %     13.22 %
    Tangible common equity to tangible assets ratio   11.07 %     11.10 %     11.53 %
    Book value per share $ 29.25     $ 28.77     $ 28.12  
    Tangible book value per share $ 25.11     $ 24.63     $ 24.06  

    Return on Average Tangible Common Equity

    Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:

      Three Months Ended     Six Months Ended June 30,  
    (dollars in thousands) June 30, 2025     March 31, 2025     June 30, 2024     2025     2024  
    Net income available to common shareholders $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
    Average shareholders’ equity   513,691       512,262       512,185       512,981       512,486  
    Adjustments:                                      
    Average goodwill   (71,498 )     (71,498 )     (71,498 )     (71,498 )     (71,498 )
    Average core deposit intangible   (1,780 )     (1,951 )     (2,525 )     (1,865 )     (2,625 )
    Adjusted average tangible common equity $ 440,413     $ 438,813     $ 438,162     $ 439,618     $ 438,363  
    Return on average common equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %

    The MIL Network

  • MIL-OSI: RBB Bancorp Reports Second Quarter 2025 Earnings and Declares Quarterly Cash Dividend of $0.16 Per Common Share

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, July 21, 2025 (GLOBE NEWSWIRE) — RBB Bancorp (NASDAQ:RBB) and its subsidiaries, Royal Business Bank (the “Bank”) and RBB Asset Management Company (“RAM”), collectively referred to herein as the “Company,” announced financial results for the quarter ended June 30, 2025.

    Second Quarter 2025 Highlights

    • Net income totaled $9.3 million, or $0.52 diluted earnings per share
    • Return on average assets of 0.93%, compared to 0.24% for the quarter ended March 31, 2025
    • Net interest margin expanded to 2.92%, up from 2.88% for the quarter ended March 31, 2025
    • Net loans held for investment growth of $91.6 million, or 12% annualized
    • Nonperforming assets decreased $3.6 million, or 5.5%, to $61.0 million at June 30, 2025, down from $64.6 million at March 31, 2025
    • Book value and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025

    The Company reported net income of $9.3 million, or $0.52 diluted earnings per share, for the quarter ended June 30, 2025, compared to net income of $2.3 million, or $0.13 diluted earnings per share, for the quarter ended March 31, 2025. Net income for the second quarter of 2025 included income from an Employee Retention Credit (“ERC”) of $5.2 million (pre-tax), which was included in other income, offset partially by professional and advisory costs associated with filing and determining eligibility for the ERC totaling $1.2 million (pre-tax).

    “Another quarter of strong loan growth and stable loan yields drove increasing net interest income and margin expansion in the second quarter,” said Johnny Lee, President and Chief Executive Officer of RBB Bancorp. “We also benefited from the receipt of a $5.2 million ERC in the second quarter. We continue to work through our nonperforming assets and remain focused on resolving our nonperforming loans as quickly as possible while minimizing the impact to earnings and capital.”

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Net Interest Income and Net Interest Margin

    Net interest income was $27.3 million for the second quarter of 2025, compared to $26.2 million for the first quarter of 2025. The $1.2 million increase was due to a $1.9 million increase in interest income, offset by a $698,000 increase in interest expense. The increase in interest income was mostly due to a $2.1 million increase in interest and fees on loans. The increase in interest expense was due to a $433,000 increase in interest on borrowings and a $265,000 increase in interest on deposits.

    The net interest margin (“NIM”) was 2.92% for the second quarter of 2025, an increase of 4 basis points from 2.88% for the first quarter of 2025. The NIM expansion was due to a 3 basis point increase in the yield on average interest-earning assets, combined with a 1 basis point decrease in the overall cost of funds. The yield on average interest-earning assets increased to 5.79% for the second quarter of 2025 from 5.76% for the first quarter of 2025 due mainly to a 2 basis point increase in the yield on average loans to 6.03%. Average loans represented 85% of average interest-earning assets in the second quarter of 2025, as compared to 84% in the first quarter of 2025.

    The average cost of funds decreased to 3.14% for the second quarter of 2025 from 3.15% for the first quarter of 2025, driven by an 11 basis point decrease in the average cost of interest-bearing deposits, partially offset by a 75 basis point increase in the average cost of total borrowings. The average cost of interest-bearing deposits decreased to 3.66% for the second quarter of 2025 from 3.77% for the first quarter of 2025. The overall funding mix for the second quarter of 2025 remained relatively unchanged from the first quarter of 2025 with total deposits representing 90% of interest bearing liabilities and average noninterest-bearing deposits representing 17% of average total deposits. The average cost of borrowings increased as $150 million in long term FHLB advances matured during the first quarter of 2025, the majority of which were replaced and repriced at current market rates. The all-in average spot rate for total deposits was 2.95% at June 30, 2025.

    Provision for Credit Losses

    The provision for credit losses was $2.4 million for the second quarter of 2025 compared to $6.7 million for the first quarter of 2025. The second quarter of 2025 provision for credit losses reflected an increase in general reserves of $1.5 million due mainly to net loan growth, and an increase in a specific reserve of $924,000 related to one lending relationship. The second quarter provision also took into consideration factors such as changes in the outlook for economic conditions and market interest rates, and changes in credit quality metrics, including changes in loans 30-89 days past due, nonperforming loans, special mention and substandard loans during the period. Net charge-offs of $3.3 million in the second quarter related to loans which had these specific reserves at March 31, 2025. Net charge-offs on an annualized basis represented 0.42% of average loans for the second quarter of 2025 compared to 0.35% for the first quarter of 2025.

    Noninterest Income

    Noninterest income for the second quarter of 2025 was $8.5 million, an increase of $6.2 million from $2.3 million for the first quarter of 2025. The second quarter of 2025 included other income of $5.2 million for the receipt of ERC funds from the IRS. The ERC was a grant program established under the Coronavirus Aid, Relief, and Economic Security Act in response to the COVID-19 pandemic and these funds relate to qualifying amended payroll tax returns the Company filed for the first and second quarters of 2021.

    Upon receipt of the ERC funds, certain professional and tax advisory costs associated with the assessment and compilation of the ERC refunds became due and payable. These amounts totaled $1.2 million and are included in legal and professional expense in our consolidated statements of income for the second quarter of 2025. There were no such ERC amounts received or associated costs recognized during the first quarter of 2025 or the quarter ended June 30, 2024.

    The second quarter of 2025 also included a higher gain on sale of loans of $277,000 and recoveries associated with a fully-charged off loan acquired in a bank acquisition of $350,000, the latter included in “other income.”

    Noninterest Expense

    Noninterest expense for the second quarter of 2025 was $20.5 million, an increase of $2.0 million from $18.5 million for the first quarter of 2025. This increase was mostly due to higher legal and professional expense of $1.4 million, of which $1.2 million was attributed to the aforementioned ERC advisory costs, and a $437,000 increase in salaries and employee benefits expenses. The increase in compensation includes higher incentives related to sustained production levels, the impact of annual pay increases, and approximately $330,000 in costs related to executive management transitions, offset by lower payroll taxes. The efficiency ratio was 57.2% for the second quarter of 2025, down from 65.1% for the first quarter of 2025 due mostly to higher noninterest income related to the ERC, partially offset by higher noninterest expense related to the ERC advisory costs.

    Income Taxes

    The effective tax rate was 27.8% for the second quarter of 2025 and 28.2% for the first quarter of 2025. 

    Balance Sheet

    At June 30, 2025, total assets were $4.1 billion, an $80.6 million increase compared to March 31, 2025, and a $221.9 million increase compared to June 30, 2024.

    Loan and Securities Portfolio

    Loans held for investment (“HFI”) totaled $3.2 billion as of June 30, 2025, an increase of $91.6 million, or 12% annualized, compared to March 31, 2025 and an increase of $187.0 million, or 6.1%, compared to June 30, 2024. The second quarter of 2025 net loan growth included $182.8 million in new production with an average yield of 6.76%. The increase from March 31, 2025 was primarily due to a $57.3 million increase in single-family residential (“SFR”) mortgage loans, a $28.0 million increase in commercial real estate (“CRE”) loans, a $5.3 million increase in Small Business Administration (“SBA”) loans and a $2.7 million increase in commercial and industrial (“C&I”) loans. The loan to deposit ratio was 101.5% at June 30, 2025, compared to 100.0% at March 31, 2025 and 100.9% at June 30, 2024. 

    As of June 30, 2025, available for sale securities (“AFS”) totaled $413.1 million, an increase of $35.0 million from March 31, 2025, primarily related to purchases of $68.0 million, offset by maturities and amortization of $33.0 million during the second quarter of 2025. As of June 30, 2025, net unrealized losses totaled $23.1 million, a $1.9 million decrease, when compared to net unrealized losses of $25.0 million as of March 31, 2025.

    Deposits

    Total deposits were $3.2 billion as of June 30, 2025, an increase of $45.6 million, or 5.8% annualized, compared to March 31, 2025 and an increase of $164.6 million, or 5.4%, compared to June 30, 2024. The increase during the second quarter of 2025 was due to a $29.9 million increase in interest-bearing deposits coupled with a $15.7 million increase in noninterest-bearing deposits. The increase in interest-bearing deposits included increases in time deposits of $59.5 million, offset by decreases in interest-bearing non-maturity deposits of $29.5 million. Wholesale deposits totaled $183.8 million at June 30, 2025, an increase of $25.3 million compared to $158.5 million at March 31, 2025. Noninterest-bearing deposits totaled $543.9 million and represented 17.1% of total deposits at June 30, 2025 compared to $528.2 million and 16.8% at March 31, 2025.

    Credit Quality

    Nonperforming assets totaled $61.0 million, or 1.49% of total assets, at June 30, 2025, down from $64.6 million, or 1.61% of total assets, at March 31, 2025. The $3.6 million decrease in nonperforming assets was due to $3.3 million in net charge-offs and $1.7 million in payoffs and paydowns, partially offset by $1.4 million in additions from loans migrating to nonaccrual status in the second quarter of 2025. Nonperforming assets included one $4.2 million other real estate owned (included in “accrued interest and other assets”) at June 30, 2025 and March 31, 2025.

    Special mention loans totaled $91.3 million, or 2.82% of total loans, at June 30, 2025, up from $64.3 million, or 2.05% of total loans, at March 31, 2025. The $27.0 million increase was primarily due to the addition of loans totaling $30.1 million and $1.6 million in balance increases, partially offset by the downgrade of two CRE loans totaling $4.0 million to substandard-rated loans and payoffs and paydowns totaling $660,000. As of June 30, 2025, all special mention loans were paying current.

    Substandard loans totaled $91.0 million at June 30, 2025, up from $76.4 million at March 31, 2025. The $14.6 million increase was primarily due to the downgrades totaling $20.6 million, partially offset by net charge-offs totaling $3.3 million and payoffs and paydowns totaling $2.7 million. Of the total substandard loans at June 30, 2025, there were $34.2 million on accrual status.

    30-89 day delinquent loans, excluding nonperforming loans, totaled $18.0 million, or 0.56% of total loans, at June 30, 2025, up from $5.9 million, or 0.19% of total loans, at March 31, 2025. The $12.1 million increase was mostly due to $15.5 million in new delinquent loans, offset by $2.2 million in loans returning to current status, $798,000 in loans migrating to nonaccrual status, and $427,000 in paydowns and payoffs. The additions include an $8.5 million CRE loan that has since been brought current.

    As of June 30, 2025, the allowance for credit losses totaled $51.6 million and was comprised of an allowance for loan losses of $51.0 million and a reserve for unfunded commitments of $629,000 (included in “accrued interest and other liabilities”). This compares to the allowance for credit losses of $52.6 million, comprised of an allowance for loan losses of $51.9 million and a reserve for unfunded commitments of $629,000 at March 31, 2025. The $918,000 decrease in the allowance for credit losses for the second quarter of 2025 was due to net charge-offs of $3.3 million, offset by a $2.4 million provision for credit losses. The allowance for loan losses as a percentage of loans HFI decreased to 1.58% at June 30, 2025, compared to 1.65% at March 31, 2025, due mainly to net charge-offs of amounts included in specific reserves at March 31, 2025. The allowance for loan losses as a percentage of nonperforming loans HFI was 90% at June 30, 2025, an increase from 86% at March 31, 2025. 

      For the Three Months Ended June 30, 2025     For the Six Months Ended June 30, 2025  
    (dollars in thousands) Allowance
    for
    loan losses
        Reserve for
    unfunded
    loan commitments
        Allowance
    for
    credit losses
        Allowance
    for loan
    losses
        Reserve for
    unfunded
    loan
    commitments
        Allowance
    for credit
    losses
     
    Beginning balance $ 51,932     $ 629     $ 52,561     $ 47,729     $ 729     $ 48,458  
    Provision for (reversal of) credit losses   2,387             2,387       9,233       (100 )     9,133  
    Less loans charged-off   (3,339 )           (3,339 )     (6,065 )           (6,065 )
    Recoveries on loans charged-off   34             34       117             117  
    Ending balance $ 51,014     $ 629     $ 51,643     $ 51,014     $ 629     $ 51,643  
     

    Shareholders’ Equity

    At June 30, 2025, total shareholders’ equity was $517.7 million, a $7.3 million increase compared to March 31, 2025, and a $6.4 million increase compared to June 30, 2024. The increase in shareholders’ equity for the second quarter of 2025 was due to net income of $9.3 million, lower net unrealized losses on AFS securities of $1.3 million and equity compensation activity of $1.1 million, offset by common stock cash dividends paid totaling $2.9 million and common stock repurchases totaling $1.5 million. The increase in shareholders’ equity for the last twelve months was due to net income of $23.0 million, lower net unrealized losses on AFS securities of $4.9 million, and equity compensation activity of $2.5 million, offset by common stock repurchases totaling $12.5 million and common stock cash dividends paid totaling $11.5 million. Book value per share and tangible book value per share(1) increased to $29.25 and $25.11 at June 30, 2025, up from $28.77 and $24.63 at March 31, 2025 and up from $28.12 and $24.06 at June 30, 2024.

    Dividend Announcement

    The Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend is payable on August 12, 2025 to shareholders of record on July 31, 2025.

    (1 ) Reconciliations of the non–U.S. generally accepted accounting principles (“GAAP”) measures included at the end of this press release.
         

    Corporate Overview

    RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California. As of June 30, 2025, the Company had total assets of $4.1 billion. Its wholly-owned subsidiary, Royal Business Bank, is a full service commercial bank, which provides consumer and business banking services predominately to the Asian-centric communities in Los Angeles County, Orange County, and Ventura County in California, in Las Vegas, Nevada, in Brooklyn, Queens, and Manhattan in New York, in Edison, New Jersey, in the Chicago neighborhoods of Chinatown and Bridgeport, Illinois, and on Oahu, Hawaii. Bank services include remote deposit, E-banking, mobile banking, commercial and investor real estate loans, business loans and lines of credit, commercial and industrial loans, SBA 7A and 504 loans, 1-4 single family residential loans, trade finance, a full range of depository account products and wealth management services. The Bank has nine branches in Los Angeles County, two branches in Ventura County, one branch in Orange County, California, one branch in Las Vegas, Nevada, three branches and one loan operation center in Brooklyn, three branches in Queens, one branch in Manhattan in New York, one branch in Edison, New Jersey, two branches in Chicago, Illinois, and one branch in Honolulu, Hawaii. The Company’s administrative and lending center is located at 1055 Wilshire Blvd., Los Angeles, California 90017, and its operations center is located at 7025 Orangethorpe Ave., Buena Park, California 90621. The Company’s website address is www.royalbusinessbankusa.com.

    Conference Call

    Management will hold a conference call at 11:00 a.m. Pacific time/2:00 p.m. Eastern time on Tuesday, July 22, 2025, to discuss the Company’s second quarter 2025 financial results.

    To listen to the conference call, please dial 1-888-506-0062 or 1-973-528-0011, the Participant ID code is 710803, conference ID RBBQ225. A replay of the call will be made available at 1-877-481-4010 or 1-919-882-2331, the passcode is 52690, approximately one hour after the conclusion of the call and will remain available through August 05, 2025.

    The conference call will also be simultaneously webcast over the Internet; please visit our Royal Business Bank website at www.royalbusinessbankusa.com and click on the “Investors” tab to access the call from the site. This webcast will be recorded and available for replay on our website approximately two hours after the conclusion of the conference call.

    Disclosure

    This press release contains certain non-GAAP financial disclosures for tangible common equity and tangible assets and adjusted earnings. The Company uses certain non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and to enhance investors’ overall understanding of such financial performance. Please refer to the tables at the end of this release for a presentation of performance ratios in accordance with GAAP and a reconciliation of the non-GAAP financial measures to the GAAP financial measures.

    Safe Harbor

    Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, the effectiveness of the Companys internal control over financial reporting and disclosure controls and procedures; the potential for additional material weaknesses in the Companys internal controls over financial reporting or other potential control deficiencies of which the Company is not currently aware or which have not been detected; business and economic conditions generally and in the financial services industry, nationally and within our current and future geographic markets, including the tight labor market, ineffective management of the United States (U.S.) federal budget or debt or turbulence or uncertainly in domestic or foreign financial markets; the strength of the U.S. economy in general and the strength of the local economies in which we conduct operations; adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; possible additional provisions for credit losses and charge-offs; credit risks of lending activities and deterioration in asset or credit quality; extensive laws and regulations and supervision that we are subject to, including potential supervisory action by bank supervisory authorities; compliance with the Bank Secrecy Act and other money laundering statutes and regulations; potential goodwill impairment; liquidity risk; failure to comply with debt covenants; fluctuations in interest rates; risks associated with acquisitions and the expansion of our business into new markets; inflation and deflation; real estate market conditions and the value of real estate collateral; the effects of having concentrations in our loan portfolio, including commercial real estate and the risks of geographic and industry concentrations; environmental liabilities; our ability to compete with larger competitors; our ability to retain key personnel; successful management of reputational risk; severe weather, natural disasters, earthquakes, fires, including direct and indirect costs and impacts on clients, the Company and its employees from the January 2025 Los Angeles County wildfires; or other adverse external events could harm our business; geopolitical conditions, including acts or threats of terrorism, actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, including the conflicts between Russia and Ukraine, in the Middle East, and increasing tensions between China and Taiwan, which could impact business and economic conditions in the U.S. and abroad; tariffs, trade policies, and related tensions, which could impact our clients, specific industry sectors, and/or broader economic conditions and financial market; public health crises and pandemics, and their effects on the economic and business environments in which we operate, including our credit quality and business operations, as well as the impact on general economic and financial market conditions; general economic or business conditions in Asia, and other regions where the Bank has operations; failures, interruptions, or security breaches of our information systems; climate change, including any enhanced regulatory, compliance, credit and reputational risks and costs; cybersecurity threats and the cost of defending against them; our ability to adapt our systems to the expanding use of technology in banking; risk management processes and strategies; adverse results in legal proceedings; the impact of regulatory enforcement actions, if any; certain provisions in our charter and bylaws that may affect acquisition of the Company; changes in tax laws and regulations; the impact of governmental efforts to restructure the U.S. financial regulatory system and increased costs of compliance and other risks associated with changes in regulation, including any amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act; the impact of changes in the Federal Deposit Insurance Corporation (“FDIC”) insurance assessment rate and the rules and regulations related to the calculation of the FDIC insurance assessments; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the SEC, the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters; fluctuations in the Company’s stock price; restrictions on dividends and other distributions by laws and regulations and by our regulators and our capital structure; our ability to raise additional capital, if needed, and the potential resulting dilution of interests of holders of our common stock; the soundness of other financial institutions; our ongoing relations with our various federal and state regulators, including the SEC, FDIC, FRB and California Department of Financial Protection and Innovation; our success at managing the risks involved in the foregoing items and all other factors set forth in the Company’s public reports, including its Annual Report as filed under Form 10-K for the year ended December 31, 2024, and particularly the discussion of risk factors within that document. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company’s earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
    (Dollars in thousands)
     
      June 30,     March 31,     December 31,     September 30,     June 30,  
      2025     2025     2024     2024     2024  
    Assets                                      
    Cash and due from banks $ 27,338     $ 25,315     $ 27,747     $ 26,388     $ 23,313  
    Interest-earning deposits with financial institutions   164,514       213,508       229,998       323,002       229,456  
    Cash and cash equivalents   191,852       238,823       257,745       349,390       252,769  
    Interest-earning time deposits with financial institutions   600       600       600       600       600  
    Investment securities available for sale   413,142       378,188       420,190       305,666       325,582  
    Investment securities held to maturity   4,186       5,188       5,191       5,195       5,200  
    Loans held for sale         655       11,250       812       3,146  
    Loans held for investment   3,234,695       3,143,063       3,053,230       3,091,896       3,047,712  
    Allowance for loan losses   (51,014 )     (51,932 )     (47,729 )     (43,685 )     (41,741 )
    Net loans held for investment   3,183,681       3,091,131       3,005,501       3,048,211       3,005,971  
    Premises and equipment, net   23,945       24,308       24,601       24,839       25,049  
    Federal Home Loan Bank (FHLB) stock   15,000       15,000       15,000       15,000       15,000  
    Cash surrender value of bank owned life insurance   61,111       60,699       60,296       59,889       59,486  
    Goodwill   71,498       71,498       71,498       71,498       71,498  
    Servicing assets   6,482       6,766       6,985       7,256       7,545  
    Core deposit intangibles   1,667       1,839       2,011       2,194       2,394  
    Right-of-use assets   25,554       26,779       28,048       29,283       30,530  
    Accrued interest and other assets   91,322       87,926       83,561       70,644       63,416  
    Total assets $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    Liabilities and shareholders’ equity                                      
    Deposits:                                      
    Noninterest-bearing demand $ 543,885     $ 528,205     $ 563,012     $ 543,623     $ 542,971  
    Savings, NOW and money market accounts   691,679       721,216       663,034       666,089       647,770  
    Time deposits, $250,000 and under   1,010,674       1,000,106       1,007,452       1,052,462       1,014,189  
    Time deposits, greater than $250,000   941,993       893,101       850,291       830,010       818,675  
    Total deposits   3,188,231       3,142,628       3,083,789       3,092,184       3,023,605  
    FHLB advances   180,000       160,000       200,000       200,000       150,000  
    Long-term debt, net of issuance costs   119,720       119,624       119,529       119,433       119,338  
    Subordinated debentures   15,265       15,211       15,156       15,102       15,047  
    Lease liabilities – operating leases   27,294       28,483       29,705       30,880       32,087  
    Accrued interest and other liabilities   41,877       33,148       36,421       23,150       16,818  
    Total liabilities   3,572,387       3,499,094       3,484,600       3,480,749       3,356,895  
    Shareholders’ equity:                                      
    Common stock   259,863       260,284       259,957       259,280       266,160  
    Additional paid-in capital   3,579       3,360       3,645       3,520       3,456  
    Retained earnings   270,152       263,885       264,460       262,946       262,518  
    Non-controlling interest   72       72       72       72       72  
    Accumulated other comprehensive loss, net   (16,013 )     (17,295 )     (20,257 )     (16,090 )     (20,915 )
    Total shareholders’ equity   517,653       510,306       507,877       509,728       511,291  
    Total liabilities and shareholders’ equity $ 4,090,040     $ 4,009,400     $ 3,992,477     $ 3,990,477     $ 3,868,186  
    RBB BANCORP AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (In thousands, except share and per share data)
     
      For the Three Months Ended     For the Six Months Ended  
      June 30,
    2025
        March 31,
    2025
        June 30,
    2024
        June 30,
    2025
        June 30,
    2024
     
    Interest and dividend income:                                      
    Interest and fees on loans $ 47,687     $ 45,621     $ 45,320     $ 93,308     $ 90,867  
    Interest on interest-earning deposits   1,750       2,014       3,353       3,764       8,393  
    Interest on investment securities   4,213       4,136       3,631       8,349       7,242  
    Dividend income on FHLB stock   324       330       327       654       658  
    Interest on federal funds sold and other   231       235       255       466       521  
    Total interest and dividend income   54,205       52,336       52,886       106,541       107,681  
    Interest expense:                                      
    Interest on savings deposits, NOW and money market accounts   4,567       4,468       4,953       9,035       9,431  
    Interest on time deposits   19,250       19,084       21,850       38,334       45,172  
    Interest on long-term debt and subordinated debentures   1,634       1,632       1,679       3,266       3,358  
    Interest on FHLB advances   1,420       989       439       2,409       878  
    Total interest expense   26,871       26,173       28,921       53,044       58,839  
    Net interest income before provision for credit losses   27,334       26,163       23,965       53,497       48,842  
    Provision for credit losses   2,387       6,746       557       9,133       557  
    Net interest income after provision for credit losses   24,947       19,417       23,408       44,364       48,285  
    Noninterest income:                                      
    Service charges and fees   1,060       1,017       1,064       2,077       2,056  
    Gain on sale of loans   358       81       451       439       763  
    Loan servicing fees, net of amortization   541       588       579       1,129       1,168  
    Increase in cash surrender value of life insurance   411       403       385       814       767  
    Gain on OREO               292             1,016  
    Other income   6,108       206       717       6,314       1,090  
    Total noninterest income   8,478       2,295       3,488       10,773       6,860  
    Noninterest expense:                                      
    Salaries and employee benefits   11,080       10,643       9,533       21,723       19,460  
    Occupancy and equipment expenses   2,377       2,407       2,439       4,784       4,882  
    Data processing   1,713       1,602       1,466       3,315       2,886  
    Legal and professional   2,904       1,515       1,260       4,419       2,140  
    Office expenses   405       408       352       813       708  
    Marketing and business promotion   212       197       189       409       361  
    Insurance and regulatory assessments   709       730       981       1,439       1,963  
    Core deposit premium   172       172       201       344       402  
    Other expenses   921       848       703       1,769       1,291  
    Total noninterest expense   20,493       18,522       17,124       39,015       34,093  
    Income before income taxes   12,932       3,190       9,772       16,122       21,052  
    Income tax expense   3,599       900       2,527       4,499       5,771  
    Net income $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
                                           
    Net income per share                                      
    Basic $ 0.53     $ 0.13     $ 0.39     $ 0.66     $ 0.83  
    Diluted $ 0.52     $ 0.13     $ 0.39     $ 0.65     $ 0.82  
    Cash dividends declared per common share $ 0.16     $ 0.16     $ 0.16     $ 0.32     $ 0.32  
    Weighted-average common shares outstanding                                      
    Basic   17,746,607       17,727,712       18,375,970       17,737,212       18,488,623  
    Diluted   17,797,735       17,770,588       18,406,897       17,784,237       18,529,299  
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      For the Three Months Ended  
      June 30, 2025     March 31, 2025     June 30, 2024  
      Average     Interest     Yield /     Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                                                      
    Cash and cash equivalents(1) $ 163,838     $ 1,980       4.85 %   $ 194,236     $ 2,249       4.70 %   $ 255,973     $ 3,608       5.67 %
    FHLB Stock   15,000       324       8.66 %     15,000       330       8.92 %     15,000       327       8.77 %
    Securities                                                                      
    Available for sale(2)   399,414       4,189       4.21 %     390,178       4,113       4.28 %     318,240       3,608       4.56 %
    Held to maturity(2)   5,028       48       3.83 %     5,189       49       3.83 %     5,203       46       3.56 %
    Total loans(3)   3,171,570       47,687       6.03 %     3,079,224       45,621       6.01 %     3,017,050       45,320       6.04 %
    Total interest-earning assets   3,754,850     $ 54,228       5.79 %     3,683,827     $ 52,362       5.76 %     3,611,466     $ 52,909       5.89 %
    Total noninterest-earning assets   254,029                       260,508                       240,016                  
    Total average assets $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
                                                                           
    Interest-bearing liabilities                                                                      
    NOW $ 66,755       368       2.21 %   $ 61,222     $ 321       2.13 %   $ 56,081     $ 276       1.98 %
    Money market   482,669       3,774       3.14 %     463,443       3,625       3.17 %     431,559       3,877       3.61 %
    Saving deposits   141,411       425       1.21 %     155,116       522       1.36 %     164,913       800       1.95 %
    Time deposits, $250,000 and under   996,249       9,768       3.93 %     989,622       10,046       4.12 %     1,049,666       12,360       4.74 %
    Time deposits, greater than $250,000   922,540       9,482       4.12 %     864,804       9,038       4.24 %     772,255       9,490       4.94 %
    Total interest-bearing deposits   2,609,624       23,817       3.66 %     2,534,207       23,552       3.77 %     2,474,474       26,803       4.36 %
    FHLB advances   159,286       1,420       3.58 %     176,833       989       2.27 %     150,000       439       1.18 %
    Long-term debt   119,657       1,296       4.34 %     119,562       1,295       4.39 %     119,275       1,296       4.37 %
    Subordinated debentures   15,230       338       8.90 %     15,175       337       9.01 %     15,011       383       10.26 %
    Total interest-bearing liabilities   2,903,797       26,871       3.71 %     2,845,777       26,173       3.73 %     2,758,760       28,921       4.22 %
    Noninterest-bearing liabilities                                                                      
    Noninterest-bearing deposits   526,113                       520,145                       529,450                  
    Other noninterest-bearing liabilities   65,278                       66,151                       51,087                  
    Total noninterest-bearing liabilities   591,391                       586,296                       580,537                  
    Shareholders’ equity   513,691                       512,262                       512,185                  
    Total liabilities and shareholders’ equity $ 4,008,879                     $ 3,944,335                     $ 3,851,482                  
    Net interest income / interest rate spreads         $ 27,357       2.08 %           $ 26,189       2.03 %           $ 23,988       1.67 %
    Net interest margin                   2.92 %                     2.88 %                     2.67 %
                                                                           
    Total cost of deposits $ 3,135,737     $ 23,817       3.05 %   $ 3,054,352     $ 23,552       3.13 %   $ 3,003,924     $ 26,803       3.59 %
    Total cost of funds $ 3,429,910     $ 26,871       3.14 %   $ 3,365,922     $ 26,173       3.15 %   $ 3,288,210     $ 28,921       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    AVERAGE BALANCE SHEET AND NET INTEREST INCOME
    (Unaudited)
     
      Six Months Ended June 30,  
      2025     2024  
      Average     Interest     Yield /     Average     Interest     Yield /  
    (tax-equivalent basis, dollars in thousands) Balance     & Fees     Rate     Balance     & Fees     Rate  
    Interest-earning assets                                              
    Cash and cash equivalents(1) $ 178,953     $ 4,230       4.77 %   $ 310,476     $ 8,914       5.77 %
    FHLB Stock   15,000       654       8.79 %     15,000       658       8.82 %
    Securities                                              
    Available for sale(2)   394,822       8,302       4.24 %     319,127       7,197       4.54 %
    Held to maturity(2)   5,108       97       3.83 %     5,205       94       3.63 %
    Total loans(3)   3,125,652       93,308       6.02 %     3,017,737       90,867       6.06 %
    Total interest-earning assets   3,719,535     $ 106,591       5.78 %     3,667,545     $ 107,730       5.91 %
    Total noninterest-earning assets   257,250                       243,178                  
    Total average assets $ 3,976,785                     $ 3,910,723                  
                                                   
    Interest-bearing liabilities                                              
    NOW $ 64,004       689       2.17 %   $ 57,513     $ 574       2.01 %
    Money market   473,109       7,399       3.15 %     421,655       7,403       3.53 %
    Saving deposits   148,225       947       1.29 %     161,070       1,454       1.82 %
    Time deposits, $250,000 and under   992,954       19,815       4.02 %     1,112,735       26,165       4.73 %
    Time deposits, greater than $250,000   893,832       18,519       4.18 %     778,713       19,007       4.91 %
    Total interest-bearing deposits   2,572,124       47,369       3.71 %     2,531,686       54,603       4.34 %
    FHLB advances   168,011       2,409       2.89 %     150,000       878       1.18 %
    Long-term debt   119,610       2,591       4.37 %     119,228       2,591       4.37 %
    Subordinated debentures   15,203       675       8.95 %     14,984       767       10.29 %
    Total interest-bearing liabilities   2,874,948       53,044       3.72 %     2,815,898       58,839       4.20 %
    Noninterest-bearing liabilities                                              
    Noninterest-bearing deposits   523,145                       528,898                  
    Other noninterest-bearing liabilities   65,711                       53,441                  
    Total noninterest-bearing liabilities   588,856                       582,339                  
    Shareholders’ equity   512,981                       512,486                  
    Total liabilities and shareholders’ equity $ 3,976,785                     $ 3,910,723                  
    Net interest income / interest rate spreads         $ 53,547       2.06 %           $ 48,891       1.71 %
    Net interest margin                   2.90 %                     2.68 %
                                                   
    Total cost of deposits $ 3,095,269     $ 47,369       3.09 %   $ 3,060,584     $ 54,603       3.59 %
    Total cost of funds $ 3,398,093     $ 53,044       3.15 %   $ 3,344,796     $ 58,839       3.54 %

    ___________

    (1 ) Includes income and average balances for interest-earning time deposits and other miscellaneous interest-earning assets.
    (2 ) Interest income and average rates for tax-exempt securities are presented on a tax-equivalent basis.
    (3 ) Average loan balances relate to loans held for investment and loans held for sale and include nonaccrual loans. Interest income on loans includes the effects of discount accretion and net deferred loan origination fees and costs accounted for as yield adjustments.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
      At or for the Three Months Ended     At or for the Six Months Ended June 30,  
      June 30,     March 31,     June 30,                  
      2025     2025     2024     2025     2024  
    Per share data (common stock)                                      
    Book value $ 29.25     $ 28.77     $ 28.12     $ 29.25     $ 28.12  
    Tangible book value(1) $ 25.11     $ 24.63     $ 24.06     $ 25.11     $ 24.06  
    Performance ratios                                      
    Return on average assets, annualized   0.93 %     0.24 %     0.76 %     0.59 %     0.79 %
    Return on average shareholders’ equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized(1)   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %
    Noninterest income to average assets, annualized   0.85 %     0.24 %     0.36 %     0.55 %     0.35 %
    Noninterest expense to average assets, annualized   2.05 %     1.90 %     1.79 %     1.98 %     1.75 %
    Yield on average earning assets   5.79 %     5.76 %     5.89 %     5.78 %     5.91 %
    Yield on average loans   6.03 %     6.01 %     6.04 %     6.02 %     6.06 %
    Cost of average total deposits(2)   3.05 %     3.13 %     3.59 %     3.09 %     3.59 %
    Cost of average interest-bearing deposits   3.66 %     3.77 %     4.36 %     3.71 %     4.34 %
    Cost of average interest-bearing liabilities   3.71 %     3.73 %     4.22 %     3.72 %     4.20 %
    Net interest spread   2.08 %     2.03 %     1.67 %     2.06 %     1.71 %
    Net interest margin   2.92 %     2.88 %     2.67 %     2.90 %     2.68 %
    Efficiency ratio(3)   57.22 %     65.09 %     62.38 %     60.70 %     61.21 %
    Common stock dividend payout ratio   30.19 %     123.08 %     41.03 %     48.48 %     38.55 %

    ___________

    (1 ) Non-GAAP measure. See Non–GAAP reconciliations set forth at the end of this press release.
    (2 ) Total deposits include non-interest bearing deposits and interest-bearing deposits.
    (3 ) Ratio calculated by dividing noninterest expense by the sum of net interest income before provision for credit losses and noninterest income.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
    (Dollars in thousands)
     
      At or for the quarter ended  
      June 30,     March 31,     June 30,  
      2025     2025     2024  
    Credit Quality Data:                      
    Special mention loans $ 91,317     $ 64,279     $ 19,520  
    Special mention loans to total loans HFI   2.82 %     2.05 %     0.64 %
    Substandard loans $ 91,019     $ 76,372     $ 63,076  
    Substandard loans to total loans HFI   2.81 %     2.43 %     2.07 %
    Loans 30-89 days past due, excluding nonperforming loans $ 18,003     $ 5,927     $ 11,270  
    Loans 30-89 days past due, excluding nonperforming loans, to total loans   0.56 %     0.19 %     0.37 %
    Nonperforming loans $ 56,817     $ 60,380     $ 54,589  
    OREO $ 4,170     $ 4,170     $  
    Nonperforming assets $ 60,987     $ 64,550     $ 54,589  
    Nonperforming loans to total loans HFI   1.76 %     1.92 %     1.79 %
    Nonperforming assets to total assets   1.49 %     1.61 %     1.41 %
                           
    Allowance for loan losses $ 51,014     $ 51,932     $ 41,741  
    Allowance for loan losses to total loans HFI   1.58 %     1.65 %     1.37 %
    Allowance for loan losses to nonperforming loans HFI   89.79 %     86.01 %     76.46 %
    Net charge-offs $ 3,305     $ 2,643     $ 551  
    Net charge-offs to average loans   0.42 %     0.35 %     0.07 %
                           
    Capitalratios(1)                      
    Tangible common equity to tangible assets(2)   11.07 %     11.10 %     11.53 %
    Tier 1 leverage ratio   12.04 %     12.07 %     12.48 %
    Tier 1 common capital to risk-weighted assets   17.61 %     17.87 %     18.89 %
    Tier 1 capital to risk-weighted assets   18.17 %     18.45 %     19.50 %
    Total capital to risk-weighted assets   24.00 %     24.42 %     25.67 %

    ___________

    (1 ) June 30, 2025 capital ratios are preliminary.
    (2 ) Non-GAAP measure. See Non-GAAP reconciliations set forth at the end of this press release.
    RBB BANCORP AND SUBSIDIARIES
    SELECTED FINANCIAL HIGHLIGHTS
    (Unaudited)
     
    Loan Portfolio Detail As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $     %     $     %  
    Loans:                                          
    Commercial and industrial $ 138,263       4.3 %   $ 135,538       4.3 %   $ 126,649       4.2 %
    SBA   55,984       1.7 %     50,651       1.6 %     50,323       1.7 %
    Construction and land development   157,970       4.9 %     158,883       5.1 %     202,459       6.6 %
    Commercial real estate(1)   1,273,442       39.4 %     1,245,402       39.6 %     1,190,207       39.1 %
    Single-family residential mortgages   1,603,114       49.6 %     1,545,822       49.2 %     1,467,802       48.2 %
    Other loans   5,922       0.1 %     6,767       0.2 %     10,272       0.2 %
    Total loans $ 3,234,695       100.0 %   $ 3,143,063       100.0 %   $ 3,047,712       100.0 %
    Allowance for loan losses   (51,014 )         (51,932 )             (41,741 )        
    Total loans, net $ 3,183,681         $ 3,091,131             $ 3,005,971          

    ___________

    (1 ) Includes non-farm and non-residential loans, multi-family residential loans and non-owner occupied single family residential loans.
    Deposits As of June 30, 2025   As of March 31, 2025     As of June 30, 2024  
    (dollars in thousands) $   %   $   %     $   %  
    Deposits:                                          
    Noninterest-bearing demand $ 543,885       17.1 %   $ 528,205       16.8 %   $ 542,971       18.0 %
    Savings, NOW and money market accounts   691,679       21.7 %     721,216       22.9 %     647,770       21.4 %
    Time deposits, $250,000 and under   848,379       26.6 %     863,962       27.5 %     921,712       30.5 %
    Time deposits, greater than $250,000   920,481       28.8 %     870,708       27.8 %     790,478       26.1 %
    Wholesale deposits(1)   183,807       5.8 %     158,537       5.0 %     120,674       4.0 %
    Total deposits $ 3,188,231       100.0 %   $ 3,142,628       100.0 %   $ 3,023,605       100.0 %

    ___________

    (1 ) Includes brokered deposits, collateralized deposits from the State of California, and deposits acquired through internet listing services.

    Non-GAAP Reconciliations

    Tangible Book Value Reconciliations

    Tangible book value per share is a non-GAAP disclosure. Management measures tangible book value per share to assess the Company’s capital strength and business performance and believes this is helpful to investors as additional tools for further understanding our performance. The following is a reconciliation of tangible book value to the Company shareholders’ equity computed in accordance with GAAP, as well as a calculation of tangible book value per share as of as of the dates indicated.

                         
    (dollars in thousands, except share and per share data) June 30, 2025     March 31, 2025     June 30, 2024  
    Tangible common equity:                      
    Total shareholders’ equity $ 517,653     $ 510,306     $ 511,291  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible common equity $ 444,488     $ 436,969     $ 437,399  
    Tangible assets:                      
    Total assets-GAAP $ 4,090,040     $ 4,009,400     $ 3,868,186  
    Adjustments                      
    Goodwill   (71,498 )     (71,498 )     (71,498 )
    Core deposit intangible   (1,667 )     (1,839 )     (2,394 )
    Tangible assets $ 4,016,875     $ 3,936,063     $ 3,794,294  
    Common shares outstanding   17,699,091       17,738,628       18,182,154  
    Common equity to assets ratio   12.66 %     12.73 %     13.22 %
    Tangible common equity to tangible assets ratio   11.07 %     11.10 %     11.53 %
    Book value per share $ 29.25     $ 28.77     $ 28.12  
    Tangible book value per share $ 25.11     $ 24.63     $ 24.06  

    Return on Average Tangible Common Equity

    Management measures return on average tangible common equity (“ROATCE”) to assess the Company’s capital strength and business performance and believes this is helpful to investors as an additional tool for further understanding our performance. Tangible equity excludes goodwill and other intangible assets (excluding mortgage servicing rights) and is reviewed by banking and financial institution regulators when assessing a financial institution’s capital adequacy. This non-GAAP financial measure should not be considered a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures used by other companies. The following table reconciles ROATCE to its most comparable GAAP measure:

      Three Months Ended     Six Months Ended June 30,  
    (dollars in thousands) June 30, 2025     March 31, 2025     June 30, 2024     2025     2024  
    Net income available to common shareholders $ 9,333     $ 2,290     $ 7,245     $ 11,623     $ 15,281  
    Average shareholders’ equity   513,691       512,262       512,185       512,981       512,486  
    Adjustments:                                      
    Average goodwill   (71,498 )     (71,498 )     (71,498 )     (71,498 )     (71,498 )
    Average core deposit intangible   (1,780 )     (1,951 )     (2,525 )     (1,865 )     (2,625 )
    Adjusted average tangible common equity $ 440,413     $ 438,813     $ 438,162     $ 439,618     $ 438,363  
    Return on average common equity, annualized   7.29 %     1.81 %     5.69 %     4.57 %     6.00 %
    Return on average tangible common equity, annualized   8.50 %     2.12 %     6.65 %     5.33 %     7.01 %

    The MIL Network

  • MIL-OSI: NXP Semiconductors Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    EINDHOVEN, The Netherlands, July 21, 2025 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the second quarter, which ended June 29, 2025. “NXP delivered quarterly revenue of $2.93 billion, above the midpoint of our guidance, with all our focus end-markets performing above expectations. Our guidance for the third quarter reflects the combination of an emerging cyclical improvement in NXP’s core end markets as well as the performance of our company specific growth drivers. We continue to drive solid profitability and earnings, by strengthening our competitive portfolio and by aligning our wafer fabrication footprint consistent with our hybrid manufacturing strategy,” said Kurt Sievers, NXP Chief Executive Officer.

    Key Highlights for the Second Quarter 2025:

    • Revenue was $2.93 billion, down 6 percent year-on-year;
    • GAAP gross margin was 53.4 percent, GAAP operating margin was 23.5 percent and GAAP diluted Net Income per Share was $1.75;
    • Non-GAAP gross margin was 56.5 percent, non-GAAP operating margin was 32.0 percent, and non-GAAP diluted Net Income per Share was $2.72;
    • Cash flow from operations was $779 million, with net capex investments of $83 million, resulting in non-GAAP free cash flow of $696 million;
    • Capital return during the quarter was $461 million, representing 66 percent of second quarter non-GAAP free cash flow. Share buybacks were $204 million and dividends paid during the quarter were $257 million;
    • On May 8, 2025, NXP announced its third generation imaging processors for Level 2+ to Level 4 Autonomous Driving. The new S32R47 imaging radar processors in 16 nm FinFET technology, delivers up to twice the processing power versus the previous generation, building upon NXP’s proven expertise and global market leadership in the automotive radar market;
    • On June 12, 2025, NXP and Rimac Technology announced the co-development of a software defined vehicle (SDV) architecture for advanced automotive domain and zonal control. The jointly developed solution features NXP’s S32E2 processors, which are part of NXP’s comprehensive S32 Automotive Processing Platform. The S32E addresses the vehicle’s need for high-performance deterministic real-time domain and zonal control in a multi-applications environment; and
    • On June 17, 2025, NXP announced the completion of the acquisition of TTTech Auto, a leader in innovating unique safety-critical systems and middleware for software-defined vehicles (SDVs), pursuant to the terms of the previously announced agreement from January 2025.

    Summary of Reported Second Quarter 2025 ($ millions, unaudited) (1)

      Q2 2025 Q1 2025 Q2 2024 Q – Q Y – Y
    Total Revenue $ 2,926   $ 2,835   $ 3,127     3%     -6%  
    GAAP Gross Profit $ 1,562   $ 1,560   $ 1,792     —%     -13%  
    Gross Profit Adjustments(i) $ (90 ) $ (31 ) $ (41 )    
    Non-GAAP Gross Profit $ 1,652   $ 1,591   $ 1,833     4%     -10%  
    GAAP Gross Margin   53.4 %   55.0 %   57.3 %    
    Non-GAAP Gross Margin   56.5 %   56.1 %   58.6 %    
    GAAP Operating Income (Loss) $ 687   $ 723   $ 896     -5%     -23%  
    Operating Income Adjustments(i) $ (248 ) $ (181 ) $ (175 )    
    Non-GAAP Operating Income $ 935   $ 904   $ 1,071     3%     -13%  
    GAAP Operating Margin   23.5 %   25.5 %   28.7 %    
    Non-GAAP Operating Margin   32.0 %   31.9 %   34.3 %    
    GAAP Net Income (Loss) attributable to Stockholders $ 445   $ 490   $ 658     -9%     -32%  
    Net Income Adjustments(i) $ (245 ) $ (183 ) $ (171 )    
    Non-GAAP Net Income (Loss) Attributable to Stockholders $ 690   $ 673   $ 829     3%     -17%  
    GAAP diluted Net Income (Loss) per Share(ii) $ 1.75   $ 1.92   $ 2.54     -9%     -31%  
    Non-GAAP diluted Net Income (Loss) per Share(ii) $ 2.72   $ 2.64   $ 3.20     3%     -15%  
    Additional information          
      Q2 2025 Q1 2025 Q2 2024 Q – Q Y – Y
    Automotive $ 1,729   $ 1,674   $ 1,728     3%     —%  
    Industrial & IoT $ 546   $ 508   $ 616     7%     -11%  
    Mobile $ 331   $ 338   $ 345     -2%     -4%  
    Comm. Infra. & Other $ 320   $ 315   $ 438     2%     -27%  
    DIO   158     169     148      
    DPO   60     62     64      
    DSO   33     34     27      
    Cash Conversion Cycle   131     141     111      
    Channel Inventory (weeks)   9     9     7      
    Gross Financial Leverage(iii)   2.4x     2.4x     1.9x      
    Net Financial Leverage(iv)   1.8x     1.6x     1.3x      
                           
    1. Additional Information for the Second Quarter 2025:
      1. For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures”.
      2. Refer to Table 1 below for the weighted average number of diluted shares for the presented periods.
      3. Gross financial leverage is defined as gross debt divided by trailing twelve months adjusted EBITDA.
      4. Net financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA.
      5. Guidance for the Third Quarter 2025: ($ millions, except Per Share data) (1)

           
          GAAP   Reconciliation   non-GAAP
          Low   Mid   High       Low   Mid   High
        Total Revenue   $3,050       $3,150       $3,250           $3,050       $3,150       $3,250  
        Q-Q   4%       8%       11%           4%       8%       11%  
        Y-Y   -6%       -3%       —%           -6%       -3%       —%  
        Gross Profit   $1,691       $1,764       $1,837       $(32)       $1,723       $1,796       $1,869  
        Gross Margin   55.4%       56.0%       56.5%           56.5%       57.0%       57.5%  
        Operating Income (loss)   $818       $881       $944       $(180)       $998       $1,061       $1,124  
        Operating Margin   26.8%       28.0%       29.0%           32.7%       33.7%       34.6%  
        Financial Income (expense)   $(101)       $(101)       $(101)       $(10)       $(91)       $(91)       $(91)  
        Tax rate 18.3%-19.3%       17.0%-18.0%
        Equity-accounted investees   $(5)       $(5)       $(5)       $(4)       $(1)       $(1)       $(1)  
        Non-controlling interests   $(14)       $(14)       $(14)           $(14)       $(14)       $(14)  
        Shares – diluted   253.8       253.8       253.8               253.8       253.8       253.8  
        Earnings Per Share – diluted   $2.22       $2.42       $2.62               $2.89       $3.10       $3.30  
                                                               

        Note (1) Additional Information:

        1. GAAP Gross Profit is expected to include Purchase Price Accounting (“PPA”) effects, $(7) million; Share-based Compensation, $(15) million; Other Incidentals, $(10) million;
        2. GAAP Operating Income (loss) is expected to include PPA effects, $(40) million; Share-based Compensation, $(116) million; Restructuring and Other Incidentals, $(24) million;
        3. GAAP Financial Income (expense) is expected to include Other financial expense $(10) million;
        4. GAAP Results relating to equity-accounted investees is expected to include results relating to non-foundry equity-accounted investees $(4) million;
        5. GAAP diluted EPS is expected to include the adjustments noted above for PPA effects, Share-based Compensation, Restructuring and Other Incidentals in GAAP Operating Income (loss), the adjustment for Other financial expense, the adjustment for results relating to non-foundry equity-accounted investees and the adjustment on Tax due to the earlier mentioned adjustments.

        NXP has based the guidance included in this release on judgments and estimates that management believes are reasonable given its assessment of historical trends and other information reasonably available as of the date of this release. Please note, the guidance included in this release consists of predictions only, and is subject to a wide range of known and unknown risks and uncertainties, many of which are beyond NXP’s control. The guidance included in this release should not be regarded as representations by NXP that the estimated results will be achieved. Actual results may vary materially from the guidance we provide today. In relation to the use of non-GAAP financial information see the note regarding “Non-GAAP Financial Measures” below. For the factors, risks, and uncertainties to which judgments, estimates and forward-looking statements generally are subject see the note regarding “Forward-looking Statements.” We undertake no obligation to publicly update or revise any forward-looking statements, including the guidance set forth herein, to reflect future events or circumstances.

        Non-GAAP Financial Measures

        In managing NXP’s business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures, that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (“GAAP”). In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting NXP’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to core operating performance, certain non-cash expenses and share-based compensation expense, which may obscure trends in NXP’s underlying performance. This information also enables investors to compare financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management.

        These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in NXP’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).” Please refer to the NXP Historic Financial Model file found on the Financial Information page of the Investor Relations section of our website at https://investors.nxp.com for additional information related to our rationale for using these non-GAAP financial measures, as well as the impact of these measures on the presentation of NXP’s operations.

        In addition to providing financial information on a basis consistent with GAAP, NXP also provides the following selected financial measures on a non-GAAP basis: (i) Gross profit, (ii) Gross margin, (iii) Research and development, (iv) Selling, general and administrative, (v) Amortization of acquisition-related intangible assets, (vi) Other income, (vii) Operating income (loss), (viii) Operating margin, (ix) Financial Income (expense), (x) Income tax benefit (provision), (xi) Results relating to non-foundry equity-accounted investees, (xii) Net income (loss) attributable to stockholders, (xiii) Earnings per Share – Diluted, (xiv) EBITDA, adjusted EBITDA and trailing 12 month adjusted EBITDA, and (xv) free cash flow, trailing 12 month free cash flow and trailing 12 month free cash flow as a percent of Revenue. The non-GAAP information excludes, where applicable, the amortization of acquisition related intangible assets, the purchase accounting effect on inventory and property, plant and equipment, merger related costs (including integration costs), certain items related to divestitures, share-based compensation expense, restructuring and asset impairment charges, extinguishment of debt, foreign exchange gains and losses, income tax effect on adjustments described above and results from non-foundry equity-accounted investments.

        The difference in the benefit (provision) for income taxes between our GAAP and non-GAAP results relates to the income tax effects of the GAAP to non-GAAP adjustments that we make and the income tax effect of any discrete items that occur in the interim period. Discrete items primarily relate to unexpected tax events that may occur as these amounts cannot be forecasted (e.g., the impact of changes in tax law and/or rates, changes in estimates or resolved tax audits relating to prior year tax provisions, the excess or deficit tax effects on share-based compensation, etc.).

        Conference Call and Webcast Information

        The company will host a conference call with the financial community on Tuesday, July 22, 2025 at 8:00 a.m. U.S. Eastern Daylight Time (EDT) to review the second quarter 2025 results in detail.

        Interested parties may preregister to obtain a user-specific access code for the call here.

        The call will be webcast and can be accessed from the NXP Investor Relations website at www.nxp.com. A replay of the call will be available on the NXP Investor Relations website within 24 hours of the actual call.

        About NXP Semiconductors

        NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $12.61 billion in 2024. Find out more at www.nxp.com.

        Forward-looking Statements

        This document includes forward-looking statements which include statements regarding NXP’s business strategy, financial condition, results of operations, market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; our ability to successfully introduce new technologies and products; the demand for the goods into which NXP’s products are incorporated; global trade disputes, potential increase of barriers to international trade, including the imposition of new or increased tariffs, and resulting disruptions to our established supply chains; the impact of government actions and regulations, including as a result of executive orders, including restrictions on the export of products and technology; increasing and evolving cybersecurity threats and privacy risks; our ability to accurately estimate demand and match our production capacity accordingly or obtain supplies from third-party producers; our access to production capacity from third-party outsourcing partners, and any events that might affect their business or our relationship with them; our ability to secure adequate and timely supply of equipment and materials from suppliers; our ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; our ability to form strategic partnerships and joint ventures and to successfully cooperate with our strategic alliance partners; our ability to win competitive bid selection processes; our ability to develop products for use in customers’ equipment and products; our ability to successfully hire and retain key management and senior product engineers; global hostilities, including the invasion of Ukraine by Russia and resulting regional instability, sanctions and any other retaliatory measures taken against Russia and the continued hostilities and the armed conflict in the Middle East, which could adversely impact the global supply chain, disrupt our operations or negatively impact the demand for our products in our primary end markets; our ability to maintain good relationships with our suppliers; our ability to integrate acquired businesses in an efficient and effective manner; our ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity to meet both NXP’s debt service and research and development and capital investment requirements; and a change in tax laws could have an effect on our estimated effective tax rates. In addition, this document contains information concerning the semiconductor industry, our end markets and business generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, our end markets and business will develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov.

        For further information, please contact:

        Investors: Media:
        Jeff Palmer Paige Iven
        jeff.palmer@nxp.com  paige.iven@nxp.com
        +1 408 205 0687  +1 817 975 0602
           

        NXP-CORP

        NXP Semiconductors
        Table 1: Condensed consolidated statement of operations (unaudited)

        ($ in millions except share data) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
                   
        Revenue $ 2,926     $ 2,835     $ 3,127  
        Cost of revenue   (1,364 )     (1,275 )     (1,335 )
        Gross profit   1,562       1,560       1,792  
        Research and development   (573 )     (547 )     (594 )
        Selling, general and administrative   (278 )     (281 )     (270 )
        Amortization of acquisition-related intangible assets   (25 )     (27 )     (28 )
        Total operating expenses   (876 )     (855 )     (892 )
        Other income (expense)   1       18       (4 )
        Operating income (loss)   687       723       896  
        Financial income (expense):          
        Other financial income (expense)   (86 )     (92 )     (75 )
        Income (loss) before income taxes   601       631       821  
        Benefit (provision) for income taxes   (116 )     (130 )     (154 )
        Results relating to equity-accounted investees   (28 )     (4 )     (3 )
        Net income (loss)   457       497       664  
        Less: Net income (loss) attributable to non-controlling interests   12       7       6  
        Net income (loss) attributable to stockholders   445       490       658  
                   
        Earnings per share data:          
        Net income (loss) per common share attributable to stockholders in $
        Basic $ 1.76     $ 1.93     $ 2.58  
        Diluted $ 1.75     $ 1.92     $ 2.54  
                   
        Weighted average number of shares of common stock outstanding during the period (in thousands):
        Basic   252,418       253,709       255,478  
        Diluted   253,844       255,018       258,732  
                   

        NXP Semiconductors
        Table 2: Condensed consolidated balance sheet (unaudited)

        ($ in millions) As of
          June 29, 2025   March 30, 2025   June 30, 2024
        ASSETS          
        Current assets:          
        Cash and cash equivalents $ 3,170     $ 3,988     $ 2,859  
        Short-term deposits               400  
        Accounts receivable, net   1,071       1,060       927  
        Assets held for sale   294              
        Inventories, net   2,361       2,350       2,148  
        Other current assets   790       627       546  
        Total current assets   7,686       8,025       6,880  
                   
        Non-current assets:          
        Deferred tax assets   1,306       1,284       1,067  
        Other non-current assets   1,909       1,942       1,223  
        Property, plant and equipment, net   3,130       3,210       3,289  
        Identified intangible assets, net   1,121       777       796  
        Goodwill   10,098       9,942       9,941  
        Total non-current assets   17,564       17,155       16,316  
                   
        Total assets   25,250       25,180       23,196  
                   
        LIABILITIES AND EQUITY          
        Current liabilities:          
        Accounts payable   892       863       929  
        Restructuring liabilities-current   65       75       62  
        Other current liabilities   1,471       1,412       1,622  
        Short-term debt   1,999       1,499       499  
        Total current liabilities   4,427       3,849       3,112  
                   
        Non-current liabilities:          
        Long-term debt   9,479       10,226       9,681  
        Restructuring liabilities   60       4       7  
        Other non-current liabilities   1,348       1,424       1,051  
        Total non-current liabilities   10,887       11,654       10,739  
                   
        Non-controlling interests   367       355       327  
        Stockholders’ equity   9,569       9,322       9,018  
        Total equity   9,936       9,677       9,345  
                   
        Total liabilities and equity   25,250       25,180       23,196  
                   

        NXP Semiconductors
        Table 3: Condensed consolidated statement of cash flows (unaudited)

        ($ in millions) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
        Cash flows from operating activities:          
        Net income (loss) $ 457     $ 497     $ 664  
        Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:          
        Depreciation and amortization   207       209       213  
        Share-based compensation   117       127       114  
        Amortization of discount (premium) on debt, net         1       1  
        Amortization of debt issuance costs   2       1       1  
        Net (gain) loss on sale of assets   (6 )     (22 )      
        Results relating to equity-accounted investees   28       4       3  
        (Gain) loss on equity securities, net   (3 )     6       3  
        Deferred tax expense (benefit)   3       (27 )     (23 )
        Changes in operating assets and liabilities:          
        (Increase) decrease in receivables and other current assets   (106 )     (29 )     10  
        (Increase) decrease in inventories   (90 )     6       (46 )
        Increase (decrease) in accounts payable and other liabilities   33       (110 )     (220 )
        (Increase) decrease in other non-current assets   131       (106 )     40  
        Exchange differences   9       4       5  
        Other items   (3 )     4       (4 )
        Net cash provided by (used for) operating activities   779       565       761  
                   
        Cash flows from investing activities:          
        Purchase of identified intangible assets   (37 )     (25 )     (55 )
        Capital expenditures on property, plant and equipment   (83 )     (139 )     (185 )
        Proceeds from the disposals of property, plant and equipment         1       1  
        Purchase of interests in businesses, net of cash acquired   (679 )            
        Purchase of investments   (93 )     (53 )      
        Net cash provided by (used for) investing activities   (892 )     (216 )     (239 )
                   
        Cash flows from financing activities:          
        Repurchase of long-term debt   (500 )            
        Proceeds from the issuance of long-term debt         370        
        Proceeds from the issuance of commercial paper notes   1,565       646        
        Repayment of commercial paper notes   (1,315 )     (146 )      
        Dividends paid to common stockholders   (257 )     (258 )     (260 )
        Proceeds from issuance of common stock through stock plans   2       37       3  
        Purchase of treasury shares and restricted stock unit withholdings   (204 )     (303 )     (310 )
        Other, net         (1 )      
        Net cash provided by (used for) financing activities   (709 )     345       (567 )
                   
        Effect of changes in exchange rates on cash positions   4       2       (4 )
        Increase (decrease) in cash and cash equivalents   (818 )     696       (49 )
        Cash and cash equivalents at beginning of period   3,988       3,292       2,908  
        Cash and cash equivalents at end of period   3,170       3,988       2,859  
                   
        Net cash paid during the period for:          
        Interest   109       41       86  
        Income taxes, net of refunds   167       96       193  
        Net gain (loss) on sale of assets:          
        Cash proceeds from the sale of assets   6       31       1  
        Book value of these assets         (9 )     (1 )
        Non-cash investing activities:          
        Non-cash capital expenditures   103       108       166  
                   

        NXP Semiconductors
        Table 4: Financial Reconciliation of GAAP to non-GAAP Results (unaudited)

        ($ in millions except share data) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
        GAAP Gross Profit $ 1,562     $ 1,560     $ 1,792  
        PPA Effects   (7 )     (8 )     (12 )
        Restructuring   (61 )     (4 )     (4 )
        Share-based compensation   (14 )     (16 )     (15 )
        Other incidentals   (8 )     (3 )     (10 )
        Non-GAAP Gross Profit $ 1,652     $ 1,591     $ 1,833  
        GAAP Gross margin   53.4 %     55.0 %     57.3 %
        Non-GAAP Gross margin   56.5 %     56.1 %     58.6 %
        GAAP Research and development $ (573 )   $ (547 )   $ (594 )
        Restructuring   (3 )     (7 )     (4 )
        Share-based compensation   (58 )     (64 )     (58 )
        Other incidentals   (7 )     (1 )      
        Non-GAAP Research and development $ (505 )   $ (475 )   $ (532 )
        GAAP Selling, general and administrative $ (278 )   $ (281 )   $ (270 )
        PPA effects               (1 )
        Restructuring   (3 )     (3 )     2  
        Share-based compensation   (45 )     (47 )     (41 )
        Other incidentals   (15 )     (20 )     (2 )
        Non-GAAP Selling, general and administrative $ (215 )   $ (211 )   $ (228 )
        GAAP Operating income (loss) $ 687     $ 723     $ 896  
        PPA effects   (32 )     (40 )     (41 )
        Restructuring   (67 )     (14 )     (6 )
        Share-based compensation   (117 )     (127 )     (114 )
        Other incidentals   (32 )           (14 )
        Non-GAAP Operating income (loss) $ 935     $ 904     $ 1,071  
        GAAP Operating margin   23.5 %     25.5 %     28.7 %
        Non-GAAP Operating margin   32.0 %     31.9 %     34.3 %
        GAAP Income tax benefit (provision) $ (116 )   $ (130 )   $ (154 )
        Income tax effect   32       13       15  
        Non-GAAP Income tax benefit (provision) $ (148 )   $ (143 )   $ (169 )
        GAAP Net income (loss) attributable to stockholders $ 445     $ 490     $ 658  
        PPA Effects   (32 )     (40 )     (41 )
        Restructuring   (67 )     (14 )     (6 )
        Share-based compensation   (117 )     (127 )     (114 )
        Other incidentals   (32 )           (14 )
        Other adjustments:          
        Adjustments to financial income (expense)   (1 )     (12 )     (8 )
        Income tax effect   32       13       15  
        Results relating to equity-accounted investees, excluding Foundry investees1   (28 )     (3 )     (3 )
        Non-GAAP Net income (loss) attributable to stockholders $ 690     $ 673     $ 829  
                   
                   
        Additional Information:          
        1. Refer to Table 7 below for further information regarding the results relating to equity-accounted investees.
                   
        GAAP net income (loss) per common share attributable to stockholders – diluted $ 1.75     $ 1.92     $ 2.54  
        PPA Effects   (0.12 )     (0.16 )     (0.16 )
        Restructuring   (0.27 )     (0.05 )     (0.02 )
        Share-based compensation   (0.46 )     (0.50 )     (0.44 )
        Other incidentals   (0.13 )           (0.06 )
        Other adjustments:          
        Adjustments to financial income (expense)         (0.05 )     (0.03 )
        Income tax effect   0.12       0.05       0.06  
        Results relating to equity-accounted investees, excluding Foundry investees1   (0.11 )     (0.01 )     (0.01 )
        Non-GAAP net income (loss) per common share attributable to stockholders – diluted $ 2.72     $ 2.64     $ 3.20  
                   
                   
        Additional Information:          
        1. Refer to Table 7 below for further information regarding the results relating to equity-accounted investees.

        NXP Semiconductors
        Table 5: Financial Reconciliation of GAAP to non-GAAP Financial income (expense) (unaudited)

        ($ in millions) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
        GAAP Financial income (expense) $ (86 )   $ (92 )   $ (75 )
        Foreign exchange loss   (7 )     (3 )     (2 )
        Other financial expense   6       (9 )     (6 )
        Non-GAAP Financial income (expense) $ (85 )   $ (80 )   $ (67 )
                   
         

        NXP Semiconductors
        Table 6: Financial Reconciliation of GAAP to non-GAAP Other income (expense) (unaudited)

        ($ in millions) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
        GAAP Other income (expense) $ 1     $ 18     $ (4 )
        PPA effects         (5 )      
        Other incidentals   (2 )     24       (2 )
        Non-GAAP Other income (expense) $ 3     $ (1 )   $ (2 )
                   

        NXP Semiconductors
        Table 7: Financial Reconciliation of GAAP to non-GAAP Results relating to equity-accounted investees (unaudited)

        ($ in millions) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
        GAAP Results relating to equity-accounted investees $ (28 )   $ (4 )   $ (3 )
        Results of equity-accounted investees, excluding Foundry investees1   (28 )     (3 )     (3 )
        Non-GAAP Results relating to equity-accounted investees $     $ (1 )   $  
                   
        Additional Information:
        1. We adjust our results relating to equity-accounted investees for those results from investments over which NXP has significant influence, but not control, and whose business activities are not related to the core operating performance of NXP. Our equity-investments in foundry partners are part of our long-term core operating performance and accordingly those results comprise the Non-GAAP Results relating to equity-accounted investees.

        NXP Semiconductors
        Table 8: Adjusted EBITDA and Free Cash Flow (unaudited)

        ($ in millions) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
        GAAP Net income (loss) $ 457     $ 497     $ 664  
        Reconciling items to EBITDA (Non-GAAP)          
        Financial (income) expense   86       92       75  
        (Benefit) provision for income taxes   116       130       154  
        Depreciation and impairment   143       143       146  
        Amortization   64       66       67  
        EBITDA (Non-GAAP) $ 866     $ 928     $ 1,106  
        Reconciling items to adjusted EBITDA (Non-GAAP)          
        Results of equity-accounted investees, excluding Foundry investees1   28       3       3  
        Purchase accounting effect on asset sale         5        
        Restructuring   67       14       6  
        Share-based compensation   117       127       114  
        Other incidental items2   25       (4 )     14  
        Adjusted EBITDA (Non-GAAP) $ 1,103     $ 1,073     $ 1,243  
        Trailing twelve month adjusted EBITDA (Non-GAAP) $ 4,745     $ 4,885     $ 5,297  
                   
        Additional Information:          
        1. Refer to Table 7 above for further information regarding the results relating to equity-accounted investees.
        2. Excluding from total other incidental items, charges included in depreciation, amortization or impairment reconciling items:
        • other incidental items
          7       4        
                   
                   
                   
        ($ in millions) Three months ended
          June 29, 2025   March 30, 2025   June 30, 2024
        Net cash provided by (used for) operating activities $ 779     $ 565     $ 761  
        Net capital expenditures on property, plant and equipment   (83 )     (138 )     (184 )
        Non-GAAP free cash flow $ 696     $ 427     $ 577  
        Trailing twelve month non-GAAP free cash flow $ 2,008     $ 1,889     $ 2,954  
        Trailing twelve month non-GAAP free cash flow as percent of Revenue   17 %     15 %     23 %
                   

      The MIL Network

  • MIL-OSI: Skillful Application of Fundamental Principles Yields Standout Results: TrustCo Announces Net Income Up 19.8%; Net Interest Income up 10.5%

    Source: GlobeNewswire (MIL-OSI)

    Executive Snapshot:

    • Bank-wide financial results:
      • Key metrics for the second quarter 2025:
        • Net income of $15.0 million, or $0.79 diluted earnings per share, increased 19.8% compared to $12.6 million, or $0.66 diluted earnings per share for the second quarter 2024
        • Net interest income of $41.7 million, up 10.5% from $37.8 million for the second quarter 2024
        • Net interest margin of 2.71%, up 18 basis points from 2.53% in second quarter of 2024
        • Average loans were up $115.6 million for the second quarter 2025 compared to the second quarter 2024
        • Average deposits were up $173.4 million for the second quarter 2025 compared to the second quarter 2024
    • Capital position and key ratios:
      • Consolidated equity to assets increased to 10.91% as of June 30, 2025 from 10.73% as of June 30, 2024
      • Book value per share as of June 30, 2025 was $36.75, up from $34.46 as of June 30, 2024
      • 169 thousand shares of TrustCo common stock were purchased under the stock repurchase program during the second quarter 2025
    • Trustco Financial Services and Wealth Management income:
      • Fees increased to $1.8 million, or by 13.0%, compared to second quarter 2024
      • Assets under management increased to $1.19 billion, or by 8.2%, compared to second quarter 2024

    GLENVILLE, N.Y., July 21, 2025 (GLOBE NEWSWIRE) — TrustCo Bank Corp NY (TrustCo, NASDAQ: TRST) today announced strong financial results for the second quarter of 2025 underscored by rising net interest income, continued margin expansion, and accelerated loan growth across key portfolios. Net interest income increased 10.5% year over year to $41.7 million, driven by the ongoing repricing of the loan portfolio at higher yields and disciplined management of deposit costs, which remained well-controlled despite sustained competitive pressures. Net interest margin expanded to 2.71% from 2.53% in the prior year period, reflecting improved asset yields and prudent deposit pricing strategies. This resulted in second quarter 2025 net income of $15.0 million or $0.79 diluted earnings per share, compared to net income of $12.6 million or $0.66 diluted earnings per share for the second quarter 2024. Loan growth gained momentum during the quarter, with total average loans increasing $115.6 million or 2.3% for the second quarter 2025 over the same period in 2024. This growth signals increasing borrower confidence and supports the Bank’s strategic focus on high quality relationship lending.        

    Overview

    Chairman, President, and CEO, Robert J. McCormick said “Part of our long-term strategy is having the right mix of products available so that we can sell the right thing, to the right customer, at the right time. It is our ability to do this with agility and skill that has produced the standout results announced today. We saw double digit growth in our return metrics year over year, as return on average assets improved 17%, and return on average equity grew 12.5%. Our margin improved 7% year over year, in tandem with a 12% year over year improvement in adjusted efficiency ratio. Our ability to sell home equity products at a time of high market demand for the flexibility they offer has been key to this success. Home equity credit lines are up 18% year over year. Likewise, we strategically grew commercial loans 11% year over year – which we have done without exposure to risky multi-family loans or other industry-specific concentrations. We lowered non-performing loans to total loans by 7% year over year, and booked a second consecutive quarter of net recoveries. These exceptional results in the first half of 2025 provide a foundation for positive momentum moving into 2026.”

    Details

    As the year continues to progress, we are seeing increased opportunities to deploy our resources effectively. Some efforts include loan originations, targeted investments in technology and digital banking infrastructure, and strategic growth in key markets. Average loans were up $115.6 million, or 2.3%, in the second quarter 2025 over the same period in 2024. Average residential loans and HECLs, our primary lending focus, were up $27.9 million, or 0.6%, and $64.7 million, or 17.8%, respectively, in the second quarter 2025 over the same period in 2024. Average commercial loans also increased $25.8 million, or 9.2%, in the second quarter 2025 over the same period in 2024. We believe that this upward trend reflects improving economic confidence among borrowers, strong credit quality, and the Bank’s focus on relationship lending. The sustained growth in the loan portfolio will likely enhance net interest income in the quarters ahead. Average deposits were up $173.4 million, or 3.3%, for the second quarter 2025 over the same period in 2024, primarily as a result of an increase in time deposits, interest bearing checking accounts, and demand deposits. The Bank’s continued emphasis on relationship banking, combined with competitive product offerings and digital capabilities, has contributed to a stable deposit base that supports ongoing loan growth and expansion.

    During the second quarter of 2025, we remained committed to returning value to shareholders through a disciplined share repurchase program, which reflects our confidence in the long-term strength of the franchise and our focus on capital optimization. TrustCo purchased 169 thousand, or 0.9%, of total shares outstanding of TrustCo common stock under the previously announced stock repurchase program during the second quarter of 2025. Our approach ensures every dollar of capital is working to generate solid returns, strengthen customer relationships, and enhance shareholder value. As of June 30, 2025, our equity to asset ratio was 10.91%, compared to 10.73% as of June 30, 2024. Book value per share as of June 30, 2025 was $36.75, up 6.6% compared to $34.46 a year earlier.

    Net interest income was $41.7 million for the second quarter 2025, an increase of $4.0 million, or 10.5%, compared to the second quarter of 2024, driven by loan growth at higher interest rates, increase in interest on federal funds sold and other short-term investments, and less interest expense on deposit products, partially offset by lower investment interest income. The net interest margin for the second quarter 2025 was 2.71%, up 18 basis points from 2.53% in the second quarter of 2024. The yield on interest earnings assets increased to 4.19% in the second quarter of 2025, up 13 basis points from 4.06% in the second quarter of 2024. The cost of interest bearing liabilities decreased to 1.91% in the second quarter 2025, down from 1.97% in the second quarter 2024. The Bank is well positioned to continue delivering strong net interest income performance even as the Federal Reserve signals a potential easing cycle in the months ahead. Our balance sheet is built for resilience and flexibility, with a favorable asset mix and a stable deposit base that we believe positions us to thrive across interest rate environments. In addition to new loan originations, we are seeing ongoing opportunities to reprice portions of our existing loan book as higher-rate loans replace paydowns and early payoffs, helping us maintain attractive yields. With loan demand accelerating and funding costs stabilizing, we believe there is meaningful upside to net interest income in the coming quarters. Our proactive asset-liability management strategy gives us confidence in sustaining margin strength and driving consistent profitable growth.

    Non-interest income, net of net gains on equity securities, increased to $4.9 million as compared to $4.3 million for the second quarter of 2024. This increase was primarily attributable to wealth management and financial services fees, which increased by 13.0% to $1.8 million, driven by strong client demand and higher assets under management. These revenues represent 37.5% of non-interest income for the second quarter of 2025. The majority of this fee income is recurring, supported by long-term advisory relationships and a growing base of managed assets. Non-interest expense increased $236 thousand over the second quarter of 2024.

    Asset quality remains strong and has been consistent over the past twelve months. The Company recorded a provision for credit losses on loans of $650 thousand in the second quarter of 2025. The ratio of allowance for credit losses on loans to total loans was 0.99% as of both June 30, 2025 and 2024. The allowance for credit losses on loans was $51.3 million as of June 30, 2025, compared to $49.8 million as of June 30, 2024. Nonperforming loans (NPLs) were $17.9 million as of June 30, 2025, compared to $19.2 million as of June 30, 2024. NPLs were 0.35% and 0.38% of total loans as of June 30, 2025 and 2024, respectively. The coverage ratio, or allowance for credit losses on loans to NPLs, was 286.2% as of June 30, 2025, compared to 259.4% as of June 30, 2024. Nonperforming assets (NPAs) were $19.0 million as of June 30, 2025, compared to $21.5 million as of June 30, 2024.  

    A conference call to discuss second quarter 2025 results will be held at 9:00 a.m. Eastern Time on July 22, 2025. Those wishing to participate in the call may dial toll-free for the United States at 1-833-470-1428, and for Canada at 1-833-950-0062, Access code 258501. A replay of the call will be available for thirty days by dialing toll-free for the United States at 1-866-813-9403, Access code 410483.   The call will also be audio webcast at  https://events.q4inc.com/attendee/979003710, and will be available for one year.

    About TrustCo Bank Corp NY

    TrustCo Bank Corp NY is a $6.3 billion savings and loan holding company and through its subsidiary, Trustco Bank, operated 136 offices in New York, New Jersey, Vermont, Massachusetts, and Florida as of June 30, 2025.

    In addition, the Bank’s Wealth Management Department offers a full range of investment services, retirement planning and trust and estate administration services. The common shares of TrustCo are traded on the NASDAQ Global Select Market under the symbol TRST.

    Forward-Looking Statements

    All statements in this news release and the related earnings call that are not historical are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future development, results or periods. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our future performance, including our expectations regarding the impact of our loan portfolio’s growth, loan demand and funding cost on net interest income, and the anticipated effects of our capital management strategy, including our stock repurchase program. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Such forward-looking statements are subject to factors and uncertainties that could cause actual results to differ materially for TrustCo from the views, beliefs and projections expressed in such statements, and many of the risks and uncertainties are heightened by or may, in the future, be heightened by volatility in financial markets and macroeconomic or geopolitical concerns related to inflation, changes in United States and foreign trade policy, continued elevated interest rates and ongoing armed conflicts (including the Russia/Ukraine conflict and the conflict in Israel and surrounding areas). TrustCo wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect TrustCo’s actual results and could cause TrustCo’s actual financial performance to differ materially from that expressed in any forward-looking statement: future changes in interest rates; external economic factors, such as changes in monetary policy, ongoing inflationary pressures and continued elevated prices; exposure to credit risk in our lending activities; the risk of weakness in residential real estate markets; our increasing commercial loan portfolio; the sufficiency of our allowance for credit losses on loans to cover actual loan losses; our ability to meet the cash flow requirements of our depositors or borrowers or meet our operating cash needs to fund corporate expansion and other activities; claims and litigation pertaining to fiduciary responsibility and lender liability; the enforcement of federal cannabis laws and regulations and its impact on our ability to provide services in the cannabis industry; our dependency upon the services of the management team; our disclosure controls and procedures’ ability to prevent or detect errors or acts of fraud; the adequacy of our business continuity and disaster recovery plans; the effectiveness of our risk management framework; the impact of any expansion by us into new lines of business or new products and services; an increase in the prevalence of fraud and other financial crimes; the impact of severe weather events and climate change on us and the communities we serve, including societal responses to climate change; environmental, social and governance risks, as well as diversity, equity, and inclusion-related risks, and their impact on our reputation and relationships; the chance of a prolonged economic downturn, especially one affecting our geographic market area; instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; the soundness of other financial institutions; U.S. government shutdowns, credit rating downgrades, or failure to increase the debt ceiling; fluctuations in the trust wealth management fees we receive as a result of investment performance; the impact of regulatory capital rules on our growth; changes in laws and regulations, including changes in cybersecurity or privacy regulations; restrictions on data collection and use; our compliance with the USA PATRIOT Act, Bank Secrecy Act, and other laws and regulations that could result in material fines or sanctions; changes in tax laws; limitations on our ability to pay dividends; TrustCo Realty Corp.’s ability to qualify as a real estate investment trust; changes in accounting standards; competition within our market areas; consumers and businesses’ use of non-banks to complete financial transactions; our reliance on third-party service providers; the impact of data breaches and cyber-attacks; the development and use of artificial intelligence; the impact of a failure in or breach of our operational or security systems or infrastructure, or those of third parties; the impact of an unauthorized disclosure of sensitive or confidential client or customer information; the impact of interruptions in the effective operation of our computer systems; the impact of anti-takeover provisions in our organizational documents; the impact of the manner in which we allocate capital; and other risks and uncertainties set forth in our public filings made with the Securities and Exchange Commission (the “SEC”), including our most recent Annual Report on Form 10-K for the year ended December 31, 2024, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, and our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 to be filed with the SEC. The forward-looking statements contained in this news release represent TrustCo management’s judgment as of the date of this news release. TrustCo disclaims, however, any intent or obligation to update forward-looking statements, either as a result of future developments, new information or otherwise, except as may be required by law.

    TRUSTCO BANK CORP NY
    GLENVILLE, NY
     
    FINANCIAL HIGHLIGHTS
     
    (dollars in thousands, except per share data)
    (Unaudited)
      Three months ended
      6/30/2025
      3/31/2025
      6/30/2024
    Summary of operations          
    Net interest income $ 41,746     $ 40,373     $ 37,788  
    Provision for credit losses   650       300       500  
    Net gains on equity securities               1,360  
    Noninterest income, excluding net gains on equity securities   4,852       4,974       4,291  
    Noninterest expense   26,223       26,329       26,459  
    Net income   15,039       14,275       12,551  
               
    Per share          
    Net income per share:          
    – Basic $ 0.79     $ 0.75     $ 0.66  
    – Diluted   0.79       0.75       0.66  
    Cash dividends   0.36       0.36       0.36  
    Book value at period end   36.75       36.16       34.46  
    Market price at period end   33.42       30.48       28.77  
               
    At period end          
    Full time equivalent employees   733       740       753  
    Full service banking offices   136       136       138  
               
    Performance ratios          
    Return on average assets   0.96 %     0.93 %     0.82 %
    Return on average equity   8.73       8.49       7.76  
    Efficiency ratio (GAAP)   56.27       58.06       60.91  
    Adjusted Efficiency ratio (1)   55.15       58.00       62.84  
    Net interest spread   2.28       2.21       2.09  
    Net interest margin   2.71       2.64       2.53  
    Dividend payout ratio   45.27       47.97       54.57  
               
    Capital ratios at period end          
    Consolidated equity to assets   10.91 %     10.85 %     10.73 %
    Consolidated tangible equity to tangible assets (1)   10.91 %     10.84 %     10.72 %
               
    Asset quality analysis at period end          
    Nonperforming loans to total loans   0.35 %     0.37 %     0.38 %
    Nonperforming assets to total assets   0.30       0.33       0.35  
    Allowance for credit losses on loans to total loans   0.99       0.99       0.99  
    Coverage ratio (2)   2.9x       2.7x       2.6x  
               
               
    (1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation.
    (2) Calculated as allowance for credit losses on loans divided by total nonperforming loans.          
    FINANCIAL HIGHLIGHTS, Continued      
     
    (dollars in thousands, except per share data)      
    (Unaudited)      
      Six Months Ended
      06/30/25
      06/30/24
    Summary of operations      
    Net interest income $ 82,119       74,366  
    Provision for credit losses   950       1,100  
    Net gains on equity securities         1,360  
    Noninterest income, excluding net gains on equity securities   9,826       9,134  
    Noninterest expense   52,552       51,362  
    Net income   29,314       24,677  
           
    Per share      
    Net income per share:      
    – Basic $ 1.54       1.30  
    – Diluted   1.54       1.30  
    Cash dividends   0.72       0.72  
    Book value at period end   36.75       34.46  
    Market price at period end   33.42       28.77  
           
    Performance ratios      
    Return on average assets   0.94 %     0.81  
    Return on average equity   8.61       7.65  
    Efficiency ratio (GAAP)   57.16       60.53  
    Adjusted Efficiency ratio (1)   56.56       61.40  
    Net interest spread   2.24       2.05  
    Net interest margin   2.68       2.48  
    Dividend payout ratio   46.58       55.51  
           
    (1) Non-GAAP Financial Measure, see Non-GAAP Financial Measures Reconciliation.      
    CONSOLIDATED STATEMENTS OF INCOME
                       
    (dollars in thousands, except per share data)                  
    (Unaudited)                  
      Three months ended
      6/30/2025   3/31/2025   12/31/2024   9/30/2024     6/30/2024  
    Interest and dividend income:                  
    Interest and fees on loans $ 54,557     $ 53,450     $ 53,024     $ 52,112     $ 50,660  
    Interest and dividends on securities available for sale:                  
    U. S. government sponsored enterprises   614       596       680       718       909  
    State and political subdivisions                           1  
    Mortgage-backed securities and collateralized mortgage                  
    obligations – residential   1,613       1,483       1,418       1,397       1,451  
    Corporate bonds   210       260       358       361       362  
    Small Business Administration – guaranteed                  
    participation securities   75       81       84       90       94  
    Other securities   8       7       6       2       2  
    Total interest and dividends on securities available for sale   2,520       2,427       2,546       2,568       2,819  
                       
    Interest on held to maturity securities:                  
    obligations – residential   54       57       59       62       65  
    Total interest on held to maturity securities   54       57       59       62       65  
                       
    Federal Home Loan Bank stock   129       151       152       153       147  
                       
    Interest on federal funds sold and other short-term investments   7,212       6,732       6,128       6,174       6,894  
    Total interest income   64,472       62,817       61,909       61,069       60,585  
                       
    Interest expense:                  
    Interest on deposits:                  
    Interest-bearing checking   536       558       397       311       288  
    Savings   733       734       719       770       675  
    Money market deposit accounts   2,086       1,989       2,024       2,154       2,228  
    Time deposits   19,195       18,983       19,680       18,969       19,400  
    Interest on short-term borrowings   176       180       187       194       206  
    Total interest expense   22,726       22,444       23,007       22,398       22,797  
                       
    Net interest income   41,746       40,373       38,902       38,671       37,788  
                       
    Less: Provision for credit losses   650       300       400       500       500  
    Net interest income after provision for credit losses   41,096       40,073       38,502       38,171       37,288  
                       
    Noninterest income:                  
    Trustco Financial Services income   1,818       2,120       1,778       2,044       1,609  
    Fees for services to customers   2,266       2,645       2,226       2,482       2,399  
    Net gains on equity securities                     23       1,360  
    Other   768       209       405       382       283  
    Total noninterest income   4,852       4,974       4,409       4,931       5,651  
                       
    Noninterest expenses:                  
    Salaries and employee benefits   11,876       11,894       12,068       12,134       12,520  
    Net occupancy expense   4,518       4,554       4,563       4,271       4,375  
    Equipment expense   1,918       1,944       2,404       1,757       1,990  
    Professional services   1,886       1,726       1,782       1,863       1,570  
    Outsourced services   2,460       2,700       3,051       2,551       2,755  
    Advertising expense   304       361       590       339       466  
    FDIC and other insurance   1,136       1,188       1,113       1,112       797  
    Other real estate expense, net   522       28       476       204       16  
    Other   1,603       1,934       2,118       1,969       1,970  
    Total noninterest expenses   26,223       26,329       28,165       26,200       26,459  
                       
    Income before taxes   19,725       18,718       14,746       16,902       16,480  
    Income taxes   4,686       4,443       3,465       4,027       3,929  
                       
    Net income $ 15,039     $ 14,275     $ 11,281     $ 12,875     $ 12,551  
                       
    Net income per common share:                  
    – Basic $ 0.79     $ 0.75     $ 0.59     $ 0.68     $ 0.66  
                       
    – Diluted   0.79       0.75       0.59       0.68       0.66  
                       
    Average basic shares (in thousands)   18,965       19,020       19,015       19,010       19,022  
    Average diluted shares (in thousands)   18,994       19,044       19,045       19,036       19,033  
    CONSOLIDATED STATEMENTS OF INCOME, Continued
     
    (dollars in thousands, except per share data)
    (Unaudited)
      Six Months Ended
      06/30/25   06/30/24
    Interest and dividend income:      
    Interest and fees on loans $ 108,007       100,464  
    Interest and dividends on securities available for sale:      
    U. S. government sponsored enterprises   1,210       1,815  
    State and political subdivisions         1  
    Mortgage-backed securities and collateralized mortgage      
    obligations – residential   3,096       2,945  
    Corporate bonds   470       838  
    Small Business Administration – guaranteed      
    participation securities   156       194  
    Other securities   15       5  
    Total interest and dividends on securities available for sale   4,947       5,798  
           
    Interest on held to maturity securities:      
    Mortgage-backed securities-residential   111       133  
    Total interest on held to maturity securities   111       133  
           
    Federal Home Loan Bank stock   280       299  
           
    Interest on federal funds sold and other short-term investments   13,944       13,644  
    Total interest income   127,289       120,338  
           
    Interest expense:      
    Interest on deposits:      
    Interest-bearing checking   1,094       528  
    Savings   1,467       1,387  
    Money market deposit accounts   4,075       4,570  
    Time deposits   38,178       39,077  
    Interest on short-term borrowings   356       410  
    Total interest expense   45,170       45,972  
           
    Net interest income   82,119       74,366  
           
    Less: Provision for credit losses   950       1,100  
    Net interest income after provision for credit losses   81,169       73,266  
           
    Noninterest income:      
    Trustco Financial Services income   3,938       3,425  
    Fees for services to customers   4,911       5,144  
    Net gains on equity securities         1,360  
    Other   977       565  
    Total noninterest income   9,826       10,494  
           
    Noninterest expenses:      
    Salaries and employee benefits   23,770       23,947  
    Net occupancy expense   9,072       8,986  
    Equipment expense   3,862       3,728  
    Professional services   3,612       3,030  
    Outsourced services   5,160       5,256  
    Advertising expense   665       874  
    FDIC and other insurance   2,324       1,891  
    Other real estate expense, net   550       90  
    Other   3,537       3,560  
    Total noninterest expenses   52,552       51,362  
           
    Income before taxes   38,443       32,398  
    Income taxes   9,129       7,721  
           
    Net income $ 29,314       24,677  
           
    Net income per common share:      
    – Basic $ 1.54       1.30  
           
    – Diluted   1.54       1.30  
           
    Average basic shares (in thousands)   18,992       19,023  
    Average diluted shares (in thousands)   19,019       19,033  
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
     
    (dollars in thousands)
    (Unaudited)
      6/30/2025
      3/31/2025
      12/31/2024
      9/30/2024
      6/30/2024
    ASSETS:                  
                       
    Cash and due from banks $ 45,218     $ 48,782     $ 47,364     $ 49,659     $ 42,193  
    Federal funds sold and other short term investments   668,373       707,355       594,448       473,306       493,920  
    Total cash and cash equivalents   713,591       756,137       641,812       522,965       536,113  
                       
    Securities available for sale:                  
    U. S. government sponsored enterprises   71,241       65,942       85,617       90,588       106,796  
    States and political subdivisions   18       18       18       26       26  
    Mortgage-backed securities and collateralized mortgage                  
    obligations – residential   221,721       219,333       213,128       222,841       218,311  
    Small Business Administration – guaranteed                  
    participation securities   12,945       13,683       14,141       15,171       15,592  
    Corporate bonds   29,943       24,779       44,581       54,327       53,764  
    Other securities   698       698       700       701       688  
    Total securities available for sale   336,566       324,453       358,185       383,654       395,177  
                       
    Held to maturity securities:                  
    Mortgage-backed securities and collateralized mortgage                  
    obligations-residential   4,836       5,090       5,365       5,636       5,921  
    Total held to maturity securities   4,836       5,090       5,365       5,636       5,921  
                       
    Federal Reserve Bank and Federal Home Loan Bank stock   6,601       6,507       6,507       6,507       6,507  
                       
    Loans:                  
    Commercial   314,273       302,753       286,857       280,261       282,441  
    Residential mortgage loans   4,394,317       4,380,561       4,388,302       4,382,674       4,370,640  
    Home equity line of credit   435,433       419,806       409,261       393,418       370,063  
    Installment loans   12,678       13,017       13,638       14,503       15,168  
    Loans, net of deferred net costs   5,156,701       5,116,137       5,098,058       5,070,856       5,038,312  
                       
    Less: Allowance for credit losses on loans   51,265       50,606       50,248       49,950       49,772  
    Net loans   5,105,436       5,065,531       5,047,810       5,020,906       4,988,540  
                       
    Bank premises and equipment, net   38,129       37,178       33,782       33,324       33,466  
    Operating lease right-of-use assets   36,322       34,968       36,627       37,958       38,376  
    Other assets   106,894       108,681       108,656       98,730       102,544  
                       
    Total assets $ 6,348,375     $ 6,338,545     $ 6,238,744 $ 6,109,680     $ 6,106,644  
                       
    LIABILITIES:                  
    Deposits:                  
    Demand $ 784,351     $ 793,306     $ 762,101     $ 753,878     $ 745,227  
    Interest-bearing checking   1,045,043       1,067,948       1,027,540       988,527       1,029,606  
    Savings accounts   1,082,489       1,094,968       1,086,534       1,092,038       1,144,427  
    Money market deposit accounts   467,087       478,872       465,049       477,113       517,445  
    Time deposits   2,111,344       2,061,576       2,049,759       1,952,635       1,840,262  
    Total deposits   5,490,314       5,496,670       5,390,983       5,264,191       5,276,967  
                       
    Short-term borrowings   82,370       82,275       84,781       91,450       89,720  
    Operating lease liabilities   39,350       38,324       40,159       41,469       42,026  
    Accrued expenses and other liabilities   43,536       33,468       46,478       43,549       42,763  
                       
    Total liabilities   5,655,570       5,650,737       5,562,401       5,440,659       5,451,476  
                       
    SHAREHOLDERS’ EQUITY:                  
    Capital stock   20,097       20,097       20,097       20,058       20,058  
    Surplus   259,490       259,182       258,874       257,644       257,490  
    Undivided profits   462,158       453,931       446,503       442,079       436,048  
    Accumulated other comprehensive income (loss), net of tax   1,663       (132 )     (3,861 )     (6,600 )     (14,268 )
    Treasury stock at cost   (50,603 )     (45,270 )     (45,270 )     (44,160 )     (44,160 )
                       
    Total shareholders’ equity   692,805       687,808       676,343       669,021       655,168  
                       
    Total liabilities and shareholders’ equity $ 6,348,375     $ 6,338,545     $ 6,238,744 $ 6,109,680     $ 6,106,644  
                       
    Outstanding shares (in thousands)   18,851       19,020       19,020       19,010       19,010  
    NONPERFORMING ASSETS
               
    (dollars in thousands)
    (Unaudited)
      6/30/2025
      3/31/2025
      12/31/2024
      9/30/2024
      6/30/2024
    Nonperforming Assets                                      
                                           
    New York and other states*                                      
    Loans in nonaccrual status:                                      
    Commercial $ 684     $ 688     $ 343     $ 466     $ 741  
    Real estate mortgage – 1 to 4 family   14,048       14,795       14,671       15,320       14,992  
    Installment   34       139       108       163       131  
    Total nonperforming loans   14,766       15,622       15,122       15,949       15,864  
    Other real estate owned   1,136       2,107       2,175       2,503       2,334  
    Total nonperforming assets $ 15,902     $ 17,729     $ 17,297     $ 18,452     $ 18,198  
               
    Florida          
    Loans in nonaccrual status:          
    Commercial $     $     $     $ 314     $ 314  
    Real estate mortgage – 1 to 4 family   3,132       3,135       3,656       3,176       2,985  
    Installment   12       3       22       5       22  
    Total nonperforming loans   3,144       3,138       3,678       3,495       3,321  
    Other real estate owned                            
    Total nonperforming assets $ 3,144     $ 3,138     $ 3,678     $ 3,495     $ 3,321  
               
    Total          
    Loans in nonaccrual status:          
    Commercial $ 684     $ 688     $ 343     $ 780     $ 1,055  
    Real estate mortgage – 1 to 4 family   17,180       17,930       18,327       18,496       17,977  
    Installment   46       142       130       168       153  
    Total nonperforming loans   17,910       18,760       18,800       19,444       19,185  
    Other real estate owned   1,136       2,107       2,175       2,503       2,334  
    Total nonperforming assets $ 19,046     $ 20,867     $ 20,975     $ 21,947     $ 21,519  
               
               
    Quarterly Net (Recoveries) Chargeoffs          
               
    New York and other states*          
    Commercial $     $ (3 )   $ 62     $ 65     $  
    Real estate mortgage – 1 to 4 family   (121 )     41       (316 )     104       (74 )
    Installment   18       4       41       11       (2 )
    Total net chargeoffs (recoveries) $ (103 )   $ 42     $ (213 )   $ 180     $ (76 )
               
    Florida          
    Commercial $     $ (315 )   $ 314     $     $  
    Real estate mortgage – 1 to 4 family                           17  
    Installment   94       15       1       42       7  
    Total net (recoveries) chargeoffs $ 94     $ (300 )   $ 315     $ 42     $ 24  
               
    Total          
    Commercial $     $ (318 )   $ 376     $ 65     $  
    Real estate mortgage – 1 to 4 family   (121 )     41       (316 )     104       (57 )
    Installment   112       19       42       53       5  
    Total net (recoveries) chargeoffs $ (9 )   $ (258 )   $ 102     $ 222     $ (52 )
               
               
    Asset Quality Ratios          
               
    Total nonperforming loans (1) $ 17,910     $ 18,760     $ 18,800     $ 19,444     $ 19,185  
    Total nonperforming assets (1)   19,046       20,867       20,975       21,947       21,519  
    Total net (recoveries) chargeoffs (2)   (9 )     (258 )     102       222       (52 )
               
    Allowance for credit losses on loans (1)   51,265       50,606       50,248       49,950       49,772  
               
    Nonperforming loans to total loans   0.35 %     0.37 %     0.37 %     0.38 %     0.38 %
    Nonperforming assets to total assets   0.30 %     0.33 %     0.34 %     0.36 %     0.35 %
    Allowance for credit losses on loans to total loans   0.99 %     0.99 %     0.99 %     0.99 %     0.99 %
    Coverage ratio (1)   286.2 %     269.8 %     267.3 %     256.9 %     259.4 %
    Annualized net (recoveries) chargeoffs to average loans (2)   0.00 %     -0.02 %     0.01 %     0.02 %     0.00 %
    Allowance for credit losses on loans to annualized net chargeoffs (2) N/A N/A 123.2x 56.3x N/A
     
    * Includes New York, New Jersey, Vermont and Massachusetts.
    (1) At period-end
    (2) For the three-month period ended
    DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
    INTEREST RATES AND INTEREST DIFFERENTIAL
     
    (dollars in thousands)                              
    (Unaudited) Three months ended   Three months ended
      June 30, 2025   June 30, 2024
      Average   Interest     Average     Average   Interest     Average  
      Balance         Rate     Balance         Rate  
    Assets                              
                                   
    Securities available for sale:                              
    U. S. government sponsored enterprises $ 73,468     $ 614       3.34 %   $ 113,844     $ 909       3.20 %  
    Mortgage backed securities and collateralized mortgage                              
    obligations – residential   244,628       1,613       2.62       250,517       1,451       2.30  
    State and political subdivisions   18       0       6.77       26       1       6.75  
    Corporate bonds   25,707       210       3.26       55,065       362       2.63  
    Small Business Administration – guaranteed                              
    participation securities   14,083       75       2.14       17,436       94       2.15  
    Other   697       8       4.59       694       2       1.15  
                                   
    Total securities available for sale   358,601       2,520       2.81       437,582       2,819       2.58  
                                   
    Federal funds sold and other short-term Investments   648,457       7,212       4.46       506,493       6,894       5.48  
                                   
    Held to maturity securities:                              
    Mortgage backed securities and collateralized mortgage                              
    obligations – residential   4,970       54       4.37       6,054       65       4.28  
                                   
    Total held to maturity securities   4,970       54       4.37       6,054       65       4.28  
                                   
    Federal Home Loan Bank stock   6,591       129       7.83       6,340       147       9.27  
                                   
    Commercial loans   306,373       4,261       5.56       280,559       3,765       5.37  
    Residential mortgage loans   4,387,181       43,236       3.94       4,359,232       40,819       3.75  
    Home equity lines of credit   428,933       6,830       6.39       364,210       5,814       6.42  
    Installment loans   12,523       230       7.35       15,395       262       6.86  
                                   
    Loans, net of unearned income   5,135,010       54,557       4.25       5,019,396       50,660       4.04  
                                   
    Total interest earning assets   6,153,629     $ 64,472       4.19       5,975,865     $ 60,585       4.06  
                                   
    Allowance for credit losses on loans   (50,777 )                 (49,454 )            
    Cash & non-interest earning assets   204,006                   181,688              
                                   
                                   
    Total assets $ 6,306,858                 $ 6,108,099              
                                   
                                   
    Liabilities and shareholders’ equity                              
                                   
    Deposits:                              
    Interest bearing checking accounts $ 1,039,242     $ 536       0.21 %   $ 1,009,048     $ 288       0.11 %  
    Money market accounts   470,824       2,086       1.78       524,068       2,228       1.71  
    Savings   1,087,467       733       0.27       1,145,922       675       0.24  
    Time deposits   2,085,329       19,195       3.69       1,873,139       19,400       4.17  
                                   
    Total interest bearing deposits   4,682,862       22,550       1.93       4,552,177       22,591       2.00  
    Short-term borrowings   81,055       176       0.87       93,703       206       0.89  
                                   
    Total interest bearing liabilities   4,763,917     $ 22,726       1.91       4,645,880     $ 22,797       1.97  
                                   
    Demand deposits   777,956                   735,262              
    Other liabilities   73,903                   76,258              
    Shareholders’ equity   691,082                   650,699              
                                   
    Total liabilities and shareholders’ equity $ 6,306,858                 $ 6,108,099              
                                   
    Net interest income     $ 41,746                 $ 37,788          
                                   
    Net interest spread           2.28 %             2.09 %  
                                   
                                   
    Net interest margin (net interest income to                              
    total interest earning assets)           2.71 %             2.53 %  
    DISTRIBUTION OF ASSETS, LIABILITIES AND SHAREHOLDERS’ EQUITY –
    INTEREST RATES AND INTEREST DIFFERENTIAL, Continued
                                     
    (dollars in thousands)                                
    (Unaudited) Six Months Ended     Six Months Ended  
      June 30, 2025     June 30, 2024  
      Average   Interest       Average     Average   Interest     Average  
      Balance           Rate     Balance         Rate  
    Assets                                
                                     
    Securities available for sale:                                
    U. S. government sponsored enterprises $ 74,071       1,210       3.27 %   $ 119,908       1,815       3.03 %
    Mortgage backed securities and collateralized mortgage                                
    obligations – residential   242,083       3,096       2.56       254,665       2,945       2.31  
    State and political subdivisions   18             6.77       26       1       6.82  
    Corporate bonds   32,823       470       2.86       64,345       838       2.60  
    Small Business Administration – guaranteed                                
    participation securities   14,540       156       2.15       17,830       194       2.18  
    Mortgage backed securities and collateralized mortgage                                
    obligations – commercial                                    
    Other   698       15       4.30       695       5       1.44  
                                     
    Total securities available for sale   364,233       4,947       2.72       457,469       5,798       2.53  
                                     
    Federal funds sold and other short-term Investments   631,148       13,944       4.46       502,072       13,644       5.47  
                                     
    Held to maturity securities:                                
    Mortgage backed securities and collateralized mortgage                                
    obligations – residential   5,101       111       4.35       6,192       133       4.29  
                                     
    Total held to maturity securities   5,101       111       4.35       6,192       133       4.29  
                                     
    Federal Home Loan Bank stock   6,549       280       8.55       6,271       299       9.54  
                                     
    Commercial loans   302,173       8,426       5.58       278,871       7,425       5.33  
    Residential mortgage loans   4,386,418       85,851       3.92       4,359,351       81,236       3.73  
    Home equity lines of credit   421,498       13,265       6.35       358,607       11,277       6.32  
    Installment loans   12,744       465       7.36       15,761       526       6.72  
                                     
    Loans, net of unearned income   5,122,833       108,007       4.22       5,012,590       100,464       4.01  
                                     
    Total interest earning assets   6,129,864       127,289       4.16       5,984,594       120,338       4.03  
                                     
    Allowance for credit losses on loans   (50,627 )                   (49,139 )            
    Cash & non-interest earning assets   202,590                     188,364              
                                     
                                     
    Total assets $ 6,281,827                   $ 6,123,819              
                                     
                                     
    Liabilities and shareholders’ equity                                
                                     
    Deposits:                                
    Interest bearing checking accounts $ 1,038,733       1,094       0.21 %   $ 999,589       528       0.11 %
    Money market accounts   469,952       4,075       1.75       534,378       4,570       1.72  
    Savings   1,088,408       1,467       0.27       1,152,241       1,387       0.24  
    Time deposits   2,069,998       38,178       3.72       1,881,535       39,077       4.18  
                                     
    Total interest bearing deposits   4,667,091       44,814       1.94       4,567,743       45,562       2.01  
    Short-term borrowings   82,125       356       0.87       93,510       410       0.88  
                                     
    Total interest bearing liabilities   4,749,216       45,170       1.92       4,661,253       45,972       1.98  
                                     
    Demand deposits   769,923                     730,781              
    Other liabilities   76,308                     83,105              
    Shareholders’ equity   686,380                     648,680              
                                     
    Total liabilities and shareholders’ equity $ 6,281,827                   $ 6,123,819              
                                     
    Net interest income       82,119                   74,366          
                                     
    Net interest spread             2.24 %             2.05 %
                                     
                                     
    Net interest margin (net interest income to                                
    total interest earning assets)             2.68 %             2.48 %

    Non-GAAP Financial Measures Reconciliation

    Tangible book value per share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible book value by excluding the balance of intangible assets from total shareholders’ equity divided by shares outstanding. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity exclusive of changes in intangible assets.

    Tangible equity as a percentage of tangible assets at period end is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from total shareholders’ equity and total assets, respectively. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Additionally, we believe that this measure is important to many investors in the marketplace who are interested in relative changes from period to period in equity and total assets, each exclusive of changes in intangible assets.

    Adjusted efficiency ratio is a non-GAAP measures of expense control relative to revenue from net interest income and non-interest fee income. We calculate the efficiency ratio by dividing total non-interest expense by the sum of net interest income and total non-interest income. We calculate the adjusted efficiency ratio by dividing total noninterest expenses as determined under GAAP, excluding other real estate expense, net, by net interest income and total noninterest income as determined under GAAP, excluding net gains on equity securities. We believe that this provides a reasonable measure of primary banking expenses relative to primary banking revenue. Additionally, we believe this measure is important to investors looking for a measure of efficiency in our productivity measured by the amount of revenue generated for each dollar spent.

    We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial results. Our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible book value to shares outstanding, tangible equity as a percentage of tangible assets, and efficiency ratio to the most directly comparable GAAP measures is set forth below.  

    NON-GAAP FINANCIAL MEASURES RECONCILIATION              
                   
    (dollars in thousands)              
    (Unaudited)              
        6/30/2025   3/31/2025   6/30/2024      
    Tangible Book Value Per Share              
                   
    Equity (GAAP)   $ 692,805     $ 687,808     $ 655,168        
    Less: Intangible assets     553       553       553        
    Tangible equity (Non-GAAP)   $ 692,252     $ 687,255     $ 654,615        
                   
    Shares outstanding     18,851       19,020       19,010        
    Tangible book value per share     36.72       36.13       34.44        
    Book value per share     36.75       36.16       34.46        
                   
    Tangible Equity to Tangible Assets              
    Total Assets (GAAP)   $ 6,348,375     $ 6,338,545     $ 6,106,644        
    Less: Intangible assets     553       553       553        
    Tangible assets (Non-GAAP)   $ 6,347,822     $ 6,337,992     $ 6,106,091        
                   
    Consolidated Equity to Assets (GAAP)     10.91 %     10.85 %     10.73 %      
    Consolidated Tangible Equity to Tangible Assets (Non-GAAP)     10.91 %     10.84 %     10.72 %      
                   
        Three months ended   Six Months Ended
    Efficiency and Adjusted Efficiency Ratios   6/30/2025 3/31/2025 6/30/2024   6/30/2025     6/30/2024  
    Net interest income (GAAP) A $ 41,746     $ 40,373     $ 37,788     $ 82,119     $ 74,366  
    Non-interest income (GAAP) B   4,852       4,974       5,651       9,826       10,494  
    Less: Net gains on equity securities                 1,360             1,360  
    Revenue used for efficiency ratio (Non-GAAP) C $ 46,598     $ 45,347     $ 42,079     $ 91,945     $ 83,500  
                   
    Total noninterest expense (GAAP) D $ 26,223     $ 26,329     $ 26,459     $ 52,552     $ 51,362  
    Less: Other real estate expense, net E   522       28       16       550       90  
    Expense used for efficiency ratio (Non-GAAP) F $ 25,701     $ 26,301     $ 26,443     $ 52,002     $ 51,272  
                   
    Efficiency Ratio (GAAP) D/(A+B)   56.27 %     58.06 %     60.91 %     57.16 %     60.53 %
    Adjusted Efficiency Ratio (Non-GAAP) F/C   55.15 %     58.00 %     62.84 %     56.56 %     61.40 %

    Subsidiary: Trustco Bank

    Contact: Robert Leonard
      Executive Vice President
      (518) 381-3693

    The MIL Network

  • MIL-OSI United Nations: Readout of the Secretary-General’s meeting with H.E. Mr. Petteri Orpo, Prime Minister of the Republic of Finland

    Source: United Nations secretary general

    The Secretary-General met with H.E. Mr. Petteri Orpo, Prime Minister of the Republic of Finland. The Secretary-General and the Prime Minister discussed the global geopolitical situation, including Ukraine and the Middle East, along with the role of the United Nations.

    The 2030 Agenda and the UN80 initiative were also discussed. The Secretary-General commended Finland’s leadership in advancing multilateralism, and its steadfast contributions to the UN system.
     

    MIL OSI United Nations News

  • MIL-OSI Security: Alleged perpetrator of sending thousands of threatening emails to schools in Czech Republic, Slovakia and Latvia apprehended

    Source: Eurojust

    Eurojust has assisted the authorities in the Czech Republic, Slovakia and Latvia with the apprehension of the alleged perpetrator who was responsible for sending thousands of emails in September last year threatening schools with explosions. The mass threats, which were also sent to other educational institutions and leisure centres, caused major public concern and led to the suspension of classes at the beginning of the school year.

    Eurojust supported the national authorities involved by setting up a joint investigation team (JIT) dedicated to the case, as well as providing additional cross-border judicial support.

    The alleged perpetrator also used the social network Telegram to spread his threats. He was apprehended in the Ukrainian city of Dnipro last week but was released pending potential further steps to be taken by the authorities.

    © Dnipropetrovsk Regional Prosecutor’s Office

    Given the mass scale of the threats at the same time across three countries, the police authorities involved coordinated their investigations, assisted by the setting up of the JIT. The joint investigative efforts, using the cybercrime expertise of the police, led to the identification of an alleged perpetrator, operating from the Ukrainian city of Dnipro.

    With the participation of Czech and Slovak police officers, a joint action took place in Dnipro last week, during which the alleged perpetrator was apprehended and one individual was questioned. Furthermore, two locations were searched, which led to the seizure of computer equipment.

    Thanks to the good and close cooperation of all the authorities concerned, the operation was successfully carried out under extremely difficult circumstances, very close to the frontline of the war in Ukraine, with Ukrainian, Czech and Slovak officers exposed to heavy risks.

    Eurojust offered support not only through the establishment of the JIT but also by organising a coordination meeting to prepare for the joint action day in Ukraine. The operation was carried out at the request of and by the following authorities:

    • Czech Republic: High Public Prosecutor’s Office in Prague; National Counterterrorism, Extremism and Cybercrime Agency (NCTEKK)
    • Latvia: Rīga Pārdaugava Prosecution Office; 1st Unit of Cybercrime Enforcement Department of the Central Criminal Police Department of the State Police
    • Slovakia: General Prosecutor´s Office of the Slovak Republic; Police Department West, Anti-Crime Unit, Bureau for Combating Organized Crime of the Presidium of the Police Corps (Police ACU); Counter Terrorism Centre, Presidium of the Police Corps
    • Ukraine: Dnipropetrovsk regional Prosecutor’s Office; Main Department of National Police in Dnipropetrovsk region; Division for Combating Cybercrime in Dnipropetrovsk region of the Cyber Police Department of National Police of Ukraine

    MIL Security OSI

  • MIL-OSI Economics: Arbitrators issue award in EU-China intellectual property dispute

    Source: WTO

    Headline: Arbitrators issue award in EU-China intellectual property dispute

    This is the second appeal arbitration conducted under the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) to which both China and the European Union are participants.
    Summary of key findings 

    Download:

    In pdf format:

    What is the MPIA?
    The MPIA was agreed upon among its original 18 participating members in April 2020 to provide the possibility of resorting to arbitration under Article 25 of the DSU in case of an appeal in disputes between any two or more participating members. Currently the following WTO members are parties to the MPIA: Australia; Benin; Brazil; Canada; Chile; China; Colombia; Costa Rica; Ecuador; the European Union; Guatemala; Hong Kong, China; Iceland; Japan; Macao, China; Malaysia; Mexico; Montenegro; New Zealand; Nicaragua; Norway; Pakistan; Paraguay; Peru; the Philippines; Singapore; Switzerland; Ukraine; the United Kingdom; and Uruguay.

    Share

    MIL OSI Economics

  • MIL-OSI Economics: Arbitrators issue award in EU-China intellectual property dispute

    Source: WTO

    Headline: Arbitrators issue award in EU-China intellectual property dispute

    This is the second appeal arbitration conducted under the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) to which both China and the European Union are participants.
    Summary of key findings 

    Download:

    In pdf format:

    What is the MPIA?
    The MPIA was agreed upon among its original 18 participating members in April 2020 to provide the possibility of resorting to arbitration under Article 25 of the DSU in case of an appeal in disputes between any two or more participating members. Currently the following WTO members are parties to the MPIA: Australia; Benin; Brazil; Canada; Chile; China; Colombia; Costa Rica; Ecuador; the European Union; Guatemala; Hong Kong, China; Iceland; Japan; Macao, China; Malaysia; Mexico; Montenegro; New Zealand; Nicaragua; Norway; Pakistan; Paraguay; Peru; the Philippines; Singapore; Switzerland; Ukraine; the United Kingdom; and Uruguay.

    Share

    MIL OSI Economics

  • MIL-OSI Russia: The Chinese Foreign Ministry spoke about the Chinese side’s expectations from the 25th meeting of the leaders of China and the EU

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 21 (Xinhua) — China and the European Union will hold the 25th China-EU leaders’ meeting in Beijing, Chinese Foreign Ministry spokesman Guo Jiakun said at a daily briefing on Monday, during which he also outlined China’s expectations for the upcoming summit and current China-EU relations.

    Guo Jiakun pointed out that this year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union, as well as the 80th anniversary of the founding of the United Nations.

    As the diplomat noted, the world is currently undergoing changes at an accelerated pace that have not been seen in a century, the international situation is chaotically transforming, manifestations of unilateralism and bullying are dealing serious blows to international rules and international order, as a result of which humanity once again finds itself at a decisive crossroads.

    The official stressed that it is at this moment that China and the EU, as two major forces promoting multipolarity, two major markets supporting globalization, and two major civilizations advocating diversity, are holding the 25th leaders’ meeting, which will be of great significance and will attract wide attention from the international community.

    “Over the past half century, China-EU relations have gone through many tests and are now steadily moving towards maturity and stability, becoming one of the most influential bilateral relations in the world,” Guo Jiakun said.

    China-EU cooperation, he continued, has yielded fruitful results, provided strong support for the development of both sides, brought tangible benefits to the nearly 2 billion people of China and the EU countries, made an important contribution to world peace and development, and set a model for mutually beneficial cooperation in the era of economic globalization.

    Guo Jiakun noted that over the past 50 years, annual trade turnover between China and the EU has grown from $2.4 billion to $785.8 billion, while mutual investment has increased from near zero to nearly $260 billion. The Chinese diplomat added that bilateral humanitarian exchanges have become increasingly close, and the two sides have established effective cooperation on climate change and other issues.

    “At the same time, China-EU relations are also facing challenges,” Guo Jiakun noted. According to him, some EU officials persistently characterize bilateral relations in terms of “partner-competitor-rival”, inflate private trade and economic issues, and make groundless accusations against China over the Ukraine issue, which creates unnecessary obstacles for China-EU relations.

    The Chinese side believes that over its 50-year history, relations between China and the EU have accumulated sufficient experience and positive energy to withstand any “winds and storms”, difficulties and challenges, the official representative emphasized.

    With the 25th China-EU leaders’ meeting coming up, China-EU relations are at an important stage where they inherit the traditions of the past and open a new path to the future, he said.

    “The Chinese side expects the EU to meet China halfway, view its relations with China from a comprehensive, dialectical and long-term perspective, summarize the experience and lessons of the past 50 years of bilateral relations, follow the trend of the times, live up to the aspirations of the people of both sides and the international community, build consensus, overcome differences and jointly plan cooperation for the next 50 years, so as to jointly create an even better future for the China-EU comprehensive strategic partnership,” Guo Jiakun concluded. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News