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Trump unveils ‘Trump-class’ battleships, pressures defense contractors on overruns

REUTERS

PALM BEACH, Florida — US President Donald J. Trump on Monday announced plans for a new “Trump class” of battleships, marking the start of an expanded naval buildup and signaling increased scrutiny of defense contractors over production delays and cost overruns.

Mr. Trump said the new battleships would be larger, faster and “100 times more powerful” than any previously built, forming the centerpiece of what he called an expanded “Golden Fleet” aimed at cementing US naval dominance.

The program will begin with two vessels and is expected to grow to between 20 and 25 ships, Mr. Trump said. The first of the class will be christened the USS Defiant.

The announcement represents the latest example of the President rebranding an aspect of the federal government in his image. Mr. Trump, who has previously criticized the appearance of US warships, said he will be personally involved in the designs.

He said the ships will weigh more than 30,000 tons, larger than current destroyers, and be equipped with the latest technology, including artificial intelligence and directed energy lasers.

“We haven’t built a battleship since 1994. These cutting-edge vessels will be some of the most lethal surface warfare ships… other than our submarines,” Mr. Trump said.

In addition to carrying conventional naval guns, the new battleships will be equipped with nuclear-armed, sea-launched cruise missiles, US Navy Secretary John Phelan said, appearing with Mr. Trump in Florida for the announcement.

Some US officials have warned that a failure to build new battleships in recent years has handed an advantage to economic and military rival China. Mr. Trump downplayed China’s influence on the decision, saying the expansion was “a counter to everybody.”

DELAYS AND OVERRUNS
He said the naval expansion would be paired with renewed pressure on defense contractors to speed up production and rein in costs. He said he will meet with major defense firms next week to address delays and overruns, and to examine whether executive compensation, stock buybacks and dividends are contributing to missed production targets.

“We don’t want to have executives making $50 million a year, issuing big dividends to everybody, and also doing buybacks” while production of F35s and other jets languish, Mr. Trump said.

Reuters reported last week that the administration was planning an executive order to limit dividends, buybacks and executive pay for defense contractors whose projects are over budget and delayed.

Mr. Trump and the Pentagon have been complaining about the expensive, slow-moving and entrenched nature of the defense industry, promising dramatic changes that would make the production of war equipment more nimble.

Besides the new battleship class, the expanded fleet envisions increasing numbers of other war vessels, including introduction of a new, smaller class of frigates previously announced by the Navy, Mr. Trump said. — Reuters

Chinese envoy urges Thailand-Cambodia to resume ceasefire as soon as possible

CARLOS DE SOUZA-UNSPLASH

BEIJING — The top priority for Thailand and Cambodia is to agree to a ceasefire and stop fighting as soon as possible resume dialogue, and resolve their border disputes peacefully, a special Chinese envoy to the region said.

For three weeks, Thailand and Cambodia have engaged in daily exchanges of rockets and artillery along their 817 kilometer (508 miles) land border, after a truce first brokered by Malaysia as ASEAN chair and US President Donald Trump collapsed.

China has since joined the top diplomats of the 11-member Association of Southeast Asian Nations in urging both countries to exercise restraint and take steps to halt fighting.

China supports ASEAN’s mediation efforts and is willing to once again create conditions and provide a platform for dialogue and negotiations between the two sides, the Chinese foreign ministry said on Tuesday, citing its Special Envoy for Asian Affairs Deng Xijun.

Mr. Deng recently travelled to the two countries, meeting with their respective prime ministers and other senior government officials, as part of China’s shuttle diplomacy.

Thailand and Cambodia have agreed to hold a meeting on Wednesday of defense officials aimed at resuming the ceasefire, a move welcomed by ASEAN.

China, which calls itself a “friend” and “close neighbor” to both Cambodia and Thailand, has been seeking to facilitate mediation. It says it has been promoting a resolution to the conflict “in its own way”, without referring to the Mr. Trump ceasefire deal.

Mr. Trump claimed that the Thai-Cambodian conflict was one of the eight wars that he had stopped around the world, even as the fighting broke out again.

“In a region marked by complex historical sensitivities, few actors can claim to have the trust and willingness necessary to sustain mediation efforts as China, whose balanced and constructive approach provides a stable impetus for de-escalation of the tensions, as it did in helping broker reconciliation between Iran and Saudi Arabia last year,” state-run China Daily wrote in an editorial on Monday. — Reuters

North Korea’s Kim Jong Un tours hotels with daughter, lauds economic progress

KCNA VIA REUTERS

SEOUL — North Korean leader Kim Jong Un attended the opening ceremonies of hotels in a tourist zone of the country with his daughter Ju Ae, as he sought to highlight the country’s economic progress before a key party congress due to take place early next year.

Five hotels opened on Saturday and Sunday in North Korea’s Samjiyon tourist zone, in the northeast part of the Korean peninsula near the border with China, state media KCNA said on Tuesday.

Mr. Kim, who attended the ceremonies on Saturday, toured the upmarket hotels with Ju Ae, state media photographs showed.

Some analysts view Mr. Kim’s teenage daughter as the frontrunner to become the country’s next leader.

Mr. Kim said the hotels were “clear proof of the rising status of our people and the development potential of our country,” according to KCNA.

The North Korean leader has attended multiple opening ceremonies of facilities in the past month, including three regional factory openings last week alone.

North Korea is expected to hold its first party congress in five years in early 2026, where a new development plan for the next five years is expected to be unveiled. State media such as Rodong Sinmun, have been urging an all-out public effort to complete major projects ahead of the gathering. — Reuters

China’s second attempt at completing a reusable rocket test fails

REUTERS

BEIJING — The first stage of China’s reusable Long March 12A “was not successfully recovered” during the rocket’s inaugural flight on Monday, according to the state-run Xinhua news agency, as Beijing looks to close the gap with US giant SpaceX.

The second stage of the rocket did successfully enter its planned orbit, Xinhua reported. The Long March 12A’s maiden flight marked China’s second attempt at landing and recovering a rocket booster after launch.

China has in recent years launched dozens of rockets that deliver satellites into orbit but has yet to successfully complete a reusable rocket test, which requires the rocket’s large lower section, known as the first stage or booster, to be landed and recovered after launch.

With Elon Musk’s SpaceX having mastered this capability several years ago, Chinese private and state-owned rocket firms are rushing to test domestically developed reusable rockets.

Reusability is crucial to lowering the costs of rocket launches, which would make it cheaper to send satellites into space. SpaceX’s reusable rocket Falcon 9 has allowed its Starlink unit to achieve a near-monopoly on low-Earth orbit (LEO) satellites.

While Chinese firms have sent several hundred LEO satellites into orbit in recent years, Beijing will not be able to catch up to Starlink unless it develops its own version of the Falcon 9.

The race to become SpaceX’s primary Chinese challenger intensified earlier this month when private rocket firm Landspace became the first Chinese entity to attempt a full reusable rocket test with the launch of Zhuque-3, though it failed to stick the booster landing.

The developer of the Long March 12A, China Aerospace Science and Technology Corporation, is a state-owned conglomerate with more than 100,000 employees and is the main rocket contractor for the country’s space program.

In contrast, Landspace operates as a startup with less than 2,000 staff. — Reuters

GCash expands into cross-border payments with Virtual US Account

In alignment with Department of Information and Communications Technology’s (DICT) digital work and freelancer empowerment initiatives, GCash is rolling out its Virtual US Account, that will allow Filipinos to receive US Dollar (USD) payments and remittances directly into their GCash e-wallets without needing a US-based bank account. #GCashVirtualUSAccounts

 


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NTC orders ISPs to block unregistered online trading platforms on BSP request

The National Telecommunications Commission (NTC) has ordered internet service providers (ISPs) to immediately block access to dozens of unregistered online trading and virtual asset platforms, clarifying that the move was made at the request of the Bangko Sentral ng Pilipinas (BSP) and in line with existing financial regulations.

In a statement, the NTC said it issued a memorandum directing all ISPs to disable access to 50 online entities identified by the BSP as unlicensed or unregistered Virtual Asset Service Providers (VASPs) operating in the Philippines without proper authorization.

The directive was issued in response to concerns raised in a Bilyonaro.com article dated Dec. 21, 2025, titled “No warning: Filipino investors rage after telcos block access to global trading platform Interactive Brokers on National Telecommunications/SEC order.”

The NTC stressed that the takedown order was not arbitrary but was carried out in support of the BSP’s supervisory and enforcement mandate.

According to the NTC, the BSP formally requested the removal of the listed platforms from the Philippine digital space after determining that they were engaging in prohibited activities under Section 902-N of the Manual of Regulations for Non-Bank Financial Institutions. The provision was amended by BSP Circular No. 1206, Series of 2024, which lays down updated guidelines governing VASPs.

The NTC said its authority to issue the takedown directive is exercised in aid of relevant government regulatory and enforcement agencies to prevent the continued operation of unregistered entities and to protect the public from unauthorized virtual asset activities.

The BSP, for its part, exercises regulatory and supervisory powers under Section 3 of Republic Act No. 7653, or the New Central Bank Act, as amended by Republic Act No. 11211. The law grants the central bank authority over money service businesses, including VASPs, and empowers it to authorize entities or individuals seeking to operate such services in the country.

Regulators reiterated that only BSP-authorized platforms are allowed to offer virtual asset and related financial services in the Philippines, warning investors to exercise caution when dealing with online trading platforms that lack proper registration and approval.

 


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President Marcos extends his Christmas greetings and well wishes to the Filipinos

I extend my heartfelt Christmas greetings to the entire Filipino nation as we solemnly and festively celebrate Christmas this year.

‎Once again, the season has arrived when streets come alive with Christmas songs, twinkling lights, holiday delicacies, and the joyful excitement of finding and sharing gifts for the people that we love.

This time of the year reminds us of the warmth of family, the laughter that we share with friends, and the blessings we extend to others, especially to those who need it most.

Let us commemorate the birth of Christ with compassion and kindness — by helping one another and standing together in recovery and in renewal.

‎Just like the Child in the Manger, may we always spark happiness and bring hope to every person that we meet along the way, as we move forward to a Bagong Pilipinas.

‎Once again, Merry Christmas and may this Yuletide reflect the generosity of the Filipino spirit — always giving, always loving, and always putting others’ welfare before our own.

Maligayang Pasko po sa ating lahat!

 


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Nvidia aims to begin H200 chip shipments to China by mid-February, sources say

NVIDIANEWS.NVIDIA.COM

NVIDIA has told Chinese clients it aims to start shipping its second-most powerful AI chips to China before the Lunar New Year holiday in mid-February, three people familiar with the matter told Reuters.

The US chipmaker plans to fulfil initial orders from existing stock, with shipments expected to total 5,000 to 10,000 chip modules – equivalent to about 40,000 to 80,000 H200 AI chips, the first and second sources said.

Nvidia has also told Chinese clients that it plans to add new production capacity for the chips, with orders for that capacity opening in the second quarter of 2026, the third source said.

Significant uncertainty remains, as Beijing has yet to approve any H200 purchases and the timeline could shift depending on government decisions, the sources said.

MAJOR POLICY SHIFT

“The whole plan is contingent on government approval,” the third source said. “Nothing is certain until we get the official go-ahead.”

The sources declined to be identified as the discussions are private.

Nvidia said in a statement to Reuters “we continuously manage our supply chain. Licensed sales of the H200 to authorized customers in China will have no impact on our ability to supply customers in the United States.”

China’s Ministry of Industry and Information Technology did not immediately respond to a request for comment.

The planned shipments would mark the first deliveries of H200 chips to China after US President Donald Trump said this month that Washington would allow such sales with a 25% fee.

Reuters reported last week that the Trump administration had launched an inter-agency review of license applications for H200 chip sales to China, making good on his pledge to allow the sales.

The move represents a major policy shift from the Biden administration, which banned advanced AI chip sales to China citing national security concerns.

The H200, part of Nvidia’s previous-generation Hopper line, remains widely used in AI despite being superseded by the firm’s newer Blackwell chips. Nvidia has focused production on Blackwell and its upcoming Rubin line, making H200 supply scarce.

Mr. Trump’s decision comes as China pushes to develop its domestic AI chip industry. Local firms have yet to match the H200’s performance, raising concerns that allowing imports could slow domestic progress.

Chinese officials held emergency meetings earlier this month to discuss the matter and are weighing whether to allow shipments, Reuters reported this month. One proposal would require each H200 purchase to be bundled with a set ratio of domestic chips, according to the report.

For Chinese technology giants such as Alibaba Group and ByteDance, which have expressed interest in buying H200 chips, the potential shipments would provide access to processors roughly six times more powerful than the H20, a downgraded chip Nvidia designed for China. — Reuters

Trump pulls 30 envoys in ‘America First’ push, critics say it weakens US abroad

REUTERS

WASHINGTON — The Trump administration is recalling nearly 30 ambassadors and other senior career diplomats to ensure embassies reflect its “America First” priorities, a move critics said would weaken US credibility abroad.

The State Department declined to provide a list of the diplomats being recalled. A senior department official said on Monday the move was “a standard process in any administration” but critics said that was not so.

“An ambassador is a personal representative of the president, and it is the president’s right to ensure that he has individuals in these countries who advance the America First agenda,” said the official, who spoke on condition of anonymity.

Nearly 30 senior diplomats were among those ordered back to Washington, people familiar with the matter said.

They were posted to smaller countries where the top US representative has traditionally been from the Foreign Service, which is made up of career officials not aligned with a political party, the people said.

The recalled diplomats were encouraged to find new roles in the State Department, a second US official said.

The American Foreign Service Association representing foreign service officers said it was working to confirm which members were recalled after some reported being notified by phone with no explanation – a process its spokesperson called “highly irregular.”

“Abrupt, unexplained recalls reflect the same pattern of institutional sabotage and politicization our survey data shows is already harming morale, effectiveness, and US credibility abroad,” spokesperson Nikki Gamer said in an email.

The State Department declined to respond to Ms. Gamer’s comments.

Politico reported on Friday that two dozen ambassadors were being told to leave their posts, citing a State Department official.

Mr. Trump has sought to place loyalists in senior roles since starting his second term after encountering resistance during his first term advancing his foreign policy priorities within the US national security establishment.

Jeanne Shaheen, ranking Democrat on the US Senate Committee on Foreign Relations, assailed the Republican administration’s removal of the diplomats while about 80 ambassadorial posts remain vacant.

“President Trump is giving away US leadership to China and Russia by removing qualified career Ambassadors who serve faithfully no matter who’s in power,” Ms. Shaheen posted on X. “This makes America less safe, less strong and less prosperous.” — Reuters

Cambodia, Thailand to hold talks on resuming Trump’s truce as fighting enters third week

A girl eats a meal at Chong Kal refugee camp on Dec. 11, 2025 after evacuation amid deadly clashes between Thailand and Cambodia along a disputed border area in Chong Kal, Oddar Meanchey Province, Cambodia. — REUTERS

KUALA LUMPUR — Thailand and Cambodia agreed on Monday to hold a December 24 meeting of defense officials towards resuming a months-old ceasefire, as fierce border fighting between them entered a third week with at least 80 people killed so far.

The decision was taken on Monday during a special meeting in Kuala Lumpur of Southeast Asian foreign ministers, who were trying to salvage a truce first brokered by ASEAN chair Malaysia and US President Donald Trump after a previous round of deadly clashes in July.

Thailand and Cambodia have engaged in daily exchanges of rockets and artillery along their 817 kilometer (508 mile) land border following the collapse of the truce, with fighting at multiple points stretching from forested regions near Laos to the coastal provinces of the Gulf of Thailand.

The top diplomats of the 11-member Association of Southeast Asian Nations urged both countries to exercise maximum restraint and take immediate steps to halt fighting, while welcoming the planned meeting on Wednesday of the General Border Committee, a long-established mechanism for bilateral talks.

“The ASEAN foreign ministers expressed hope for de-escalation of hostilities as soon as possible,” said a statement from ASEAN chair Malaysia, adding discussions would include ceasefire implementation and verification.

Speaking to reporters at his Mar-a-Lago estate in Florida, Mr. Trump referred again to the Thailand-Cambodia conflict as one of the eight wars he had stopped around the world, and added: “Thailand is starting to shape up. You know, they started with Cambodia, they started up again. But I think … we have that in pretty good shape…”

SIGNIFICANT STEP

The decision to hold talks is the most significant step since fighting re-erupted, with neither Malaysian Prime Minister Anwar Ibrahim nor Mr. Trump able to bring the two countries to the table this time after various calls to their leaders.

Five days into the conflict, Mr. Trump said the premiers of Thailand and Cambodia had both agreed to “cease all shooting,” but the clashes continued the following day, with Bangkok launching more air strikes and vowing to keep on fighting.

China has also pressed both sides to step back, with its special envoy for Asian affairs Deng Xijun holding talks in Bangkok and Phnom Penh in recent days.

Thai Foreign Minister Sihasak Phuangketkeow said his country wanted a “true ceasefire” with a detailed implementation plan and firm commitment from Cambodia.

He said neither the US nor China had been involved in the decision on bilateral talks, adding it was about Thailand and Cambodia “working things out”.

“A ceasefire cannot just be declared, it needs a discussion,” Mr. Sihasak told a briefing in Kuala Lumpur.

“The Cambodians want a ceasefire, let’s have a discussion on a ceasefire. We proposed that our two militaries should meet as soon as possible.”

The location of the meeting was not immediately clear, but Mr. Sihasak said Thailand proposed the borderline in the Thai province of Chanthaburi. Cambodia’s defense ministry did not immediately respond to a request for comment.

THAI OUTRAGE OVER LANDMINES

Bangkok and Phnom Penh each accuse the other of aggression and violations of an enhanced ceasefire reached in October in Malaysia in Mr. Trump’s presence, during which they committed to demining and withdrawing troops and heavy weapons from areas over which sovereignty has been contested bitterly for decades.

Thailand has vented its fury over what it says are landmines being newly laid by Cambodia, among the world’s most landmine-plagued countries. Phnom Penh rejects the accusation.

Cambodia’s defense ministry said Thailand had violated its sovereignty on Monday with more “armed aggression” and vowed to defend its territory “at any cost”.

Thailand’s army said Cambodia had carried out intermittent artillery attacks and used drones to drop bombs, adding Thai forces had responded with air strikes and artillery on military positions.

Monday’s ASEAN gathering was the first face-to-face meeting involving the two governments since the fighting resumed on December 8, in rare conflict between member states that has tested the bloc’s resolve.

Opening the meeting, Malaysia’s foreign minister urged the bloc to play a more forceful role.

“Our goal goes beyond de-escalating the tension. We must intensify trust-building among the conflicting parties and provide the horizons for dialogue despite the prevailing differences,” Mohamad Hasan said. — Reuters

France rushes emergency budget law to avert shutdown after talks collapse

Members of Parliament during a discussion before the final vote on the Social Security Financing Bill (PLFSS) for 2026 at the National Assembly in Paris, France, December 16, 2025. — REUTERS

PARIS — France’s government will push lawmakers to approve emergency legislation to keep the state running into January after they failed to agree on a 2026 budget, a stopgap measure to avert a shutdown as pressure mounts from investors and ratings agencies.

Government spokesperson Maud Bregeon said on Monday the special law aimed to give final negotiations a chance.

A joint committee of lawmakers from both chambers failed on Friday to hammer out a full 2026 budget bill, forcing French Prime Minister Sebastien Lecornu to seek this stopgap measure to extend spending, tax collection and borrowing into January.

“This special law is not a budget … we must, as quickly as possible, in January, come up with a budget for the country,” Mr. Bregeon added, quoting French President Emmanuel Macron.

Parliament was likely to approve the measure on Tuesday.

Investors and ratings agencies are scrutinizing France’s finances, with the country running the euro zone’s highest budget deficit.

LECORNU WANTS TO AVOID CONFIDENCE VOTE

Conservative lawmaker Philippe Juvin, who has been steering the 2026 budget through the lower house, said he expected a full text to be passed in early January.

Mr. Juvin told BFM TV he hoped Mr. Lecornu would use special constitutional powers to force through a compromise text that could be amenable to Socialist lawmakers.

Mr. Lecornu had pledged not to use such powers and to do so would likely trigger a vote of no confidence from the far right or hard left, though such a motion would fail without Socialist support.

Mr. Lecornu’s minority government has little room for maneuver in France’s fractious parliament, where budget battles have already toppled three governments since Mr. Macron lost his majority in a 2024 snap election.

France used emergency rollover legislation last year until a proper 2025 budget could be passed in February, which the government says cost 12 billion euros ($14 billion). — Reuters

Go: Economy back on track by Q1

Poinsettia lanterns decorate a street inside Araneta City in Cubao, Quezon City, Nov. 28. — PHILIPPINE STAR/MIGUEL DE GUZMAN

FINANCE Secretary Frederick D. Go is confident the economy will be back on track by the first quarter, once individuals linked to the flood control scandal are swiftly prosecuted.   

In a Dec. 18 briefing with reporters, Mr. Go said government revenues may rebound in early 2026, depending on the swift resolution of cases related to the corruption mess.

“If we’re able to successfully prosecute certain personalities, then the faster the effect will be on economic growth in the first quarter. But to me, I’m confident that we will get back on track in the first quarter,” he said.

In the third quarter, the country’s economic growth slumped to 4%, the slowest expansion seen in over four years. In the nine-month period, gross domestic product growth averaged 5%, below the government’s 5.5-6.5% target.   

A wide-scale controversy linking Public Works officials, lawmakers and private contractors to multibillion-peso corruption in anomalous flood control projects dragged government spending and consumption.

“The whole key to all of this is for us to get over the hump of this public works investigation. The sooner people move on from it, the better for the economy and the better, therefore, for revenue collection,” Mr. Go said.

“So, if all goes according to plan, then we should be looking at a much brighter 2026 in the first quarter.”

A decline in infrastructure spending dented government revenue collections.

Mr. Go said the Bureau of Customs (BoC) and the Bureau of Internal Revenue (BIR) saw “softer” revenue collection this year due to the corruption probe, as well as the four-month ban on rice imports.

“Growth is growth. (Collections were) softer versus the DBCC (Development Budget Coordination Committee) targets,” he said.

Total revenue collection during the January-to-October period slipped by 1.13% to P3.81 trillion, which is only 84.25% of the P4.52-trillion revised full-year program. The target is 2.23% higher than the P4.42-trillion actual collection in 2024.

“For Customs, we banned, for example, the importation of rice for practically four months out of 12 months of the year. It definitely affected Customs collections,” he said.

He also attributed the lower Customs revenue to the adverse weather conditions that trimmed working days.

BoC Commissioner Ariel F. Nepomuceno last week said revenue collection may fall short of its full‑year goal.

BoC’s emerging revenue forecast for 2025 is P939.4 billion, 2% below the P958.7-billion full-year goal.

“Every time the peso depreciates, it usually results in higher Customs collections because imports are dollar-based. Maybe December should be a good month for collections,” Mr. Go said.

The peso has breached the P59-a-dollar mark several times since November and sank to a record low of P59.22 on Dec. 9.

Meanwhile, Mr. Go said the BIR’s collections for the month of December seem “encouraging.”

“For BIR, I think it was doing very well for the first half of the year and then slowly softened as time went on. But fortunately, it still records an increase in collections every month,” Mr. Go said.

In the first 10 months, BIR collections rose by 9.55% to P2.65 trillion, accounting for 82.35% of the P3.22-trillion full-year target.

Mr. Go said it is unlikely that there will be any adjustments to the revenue targets.

Economic managers met this month to review the macroeconomic assumptions and targets but have yet to release a statement.

Analysts say the economic recovery and stronger revenue collections by early 2026 remain doable if catch‑up government spending is paired with credible anti‑corruption and governance reforms.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the economic rebound next year is possible.

“(Government spending) is an important driver of faster economic growth. This was the drag in the third quarter due to political noise related to anomalous flood control projects,” he said.

Governance reforms, alongside fiscal measures, could also help narrow the budget deficit and reduce reliance on borrowing, Mr. Ricafort said.

“The revenue collection may continue to improve, given the large increases in activity during the holiday season and possibly next year as well,” Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc., said in a Viber message.

However, he flagged the loss of confidence in the government due to the corruption scandal as a potential downside risk, which could lead to lower investments.

“Households, especially those earning through the informal sector, may find it bothersome to file taxes given the damaged reputation on the public budget,” he said. — Aubrey Rose A. Inosante

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