Dan Niu, once confined to a cubicle crunching numbers at a Shanghai bank, now spends weekdays cycling through the city’s alleyways, leading foreign tourists past steamed bun stalls and hidden galleries tucked off the beaten path. “On our rides, we can stop anytime to chat with locals at breakfast spots or dance with retirees in public squares,” said Dan, whose cycling tours offer international travelers a half-day glimpse into everyday Shanghai, far from the usual tourist trail. Dan’s career shift reflects the boom in “China travel,” partly fueled by the continuous optimization of visa-free policies. To date, China has introduced unilateral visa-free policies for 38 countries, and implemented 240-hour transit visa-free arrangements for 54 countries. The impact has been striking. More than 20 million visa-free inbound trips were recorded in 2024, a 112.3 percent increase year-on-year, according to the National Immigration Administration. This inbound tourism boom has opened up opportunities for people with foreign language skills like Dan. GZL International Travel Service in Guangdong Province, south China, has expanded its multilingual guide team to around 30 people, including 14 new team members hired since late 2023, with English-speaking guides remaining the most sought-after. In an era of AI-powered instant translation, a tourist may travel to any foreign country without the need for a human translator. However, human connection remains highly valued. After all, while technology can translate, it cannot guide. The warmth of a smile and the bond forged in a shared moment still require a human touch. “What we’re seeing goes far beyond language assistance,” said Zhou Weihong, deputy general manager of Shanghai-based travel agency Spring Tour. Since the relaxation of visa policies, the agency has witnessed a growing influx of European and American tourists seeking immersive cultural experiences that standard itineraries often overlook. To meet this demand, the agency has included the 2025 Formula 1 Chinese Grand Prix in its tour packages, offering international visitors an exclusive combination of race event access and carefully curated Shanghai city experiences. Xu Junjie, a Japanese-speaking guide, has also observed a growing trend in demand for culturally distinctive experiences. “Alongside classic tours, visitors are increasingly drawn to quintessentially Chinese activities like tai chi and calligraphy,” Xu said. “Some even request tours of filming locations inspired by Chinese TV dramas.” Zhao Da, a Spanish-speaking guide, said Spanish tourist visitors tend to have different priorities. “Spanish tourists are captivated by China’s natural landscapes, with river cruises being their favorite,” Zhao told Xinhua. “Equally important is shopping for unique Chinese-style fashion items.” Even for the tourists from the same region, their interests can vary with their ages. Chen Junjun, an English-speaking guide in Shanghai, observed that elderly European tourists seek historical experience delivered with nostalgic warmth, while Gen Z travelers crave urban explorations, including the city’s hidden food gems and vibrant street culture. Therefore, Chen tailors itineraries to suit generational preferences. Xu Kai, another English-speaking tour guide, has seen a noticeable rise in visitors from South America. He also noticed that this year’s inbound tourism season started earlier than last year. Specializing in high-end travel, Xu curates personalized itineraries that offer visitors access to lesser-known, authentic experiences. “What surprises most guests is how different China is from what they expected,” Xu told Xinhua. “I often hear things like, ‘This isn’t what we imagined at all,’ or ‘seeing is believing.’” Though consulting tourist agencies remains a choice for many foreign travelers, popular Chinese social media platforms have become a thriving market where tourists discover potential tour guides. This is how Yami, a Russian-language graduate student, finds clients. Living in southwest China’s Sichuan Province, home of pandas and spicy hotpot, Yami obtained a tour guide certification in early 2024 and began offering services through Xiaohongshu, or rednote, a popular Chinese social media app. Yami receives a flood of inquiries through rednote. In the second half of 2024 alone, Yami led 16 Russian tour groups, and the schedule is already fully booked through June this year. For Yami, guiding is more than just a paycheck. “Through daily interactions, I learn about my guests’ lives back home. It feels like a study-abroad experience, with international visitors bringing the world to me,” Yami said.
AGOURA HILLS, CALIFORNIA, April 14, 2025 (GLOBE NEWSWIRE) — MultiCorp International, Inc. (OTC Markets PINK: MCIC) Multicorp International, Inc. is pleased to announce the execution of a Quadripartite Agreement on March 26, 2025 and the currently pending $2,000,000,000 credit transfer from a top 10 European Bank to Neoforma Inc.’s domestic bank to access immediate liquidity.
Multicorp International, Inc.’s alliance with 40 Brightwater LLC’s Global Financial Consortium inclusive of Neoforma Inc. and now Airavata Developers Corporation has expanded immediate access to greater liquidity, which will be added to the previously announced financings from Edwards Capital N.A. correspondent bank.
In turn, Neoforma Inc. will provide a line of credit to MultiCorp International, Inc. in an amount of up to $1,800,000,000 (one billion eight hundred million USD), to be utilized to execute all transactions previously announced with Global X Cryptocurrency Stablecoin Tokens (GBP-pegged), Bitcoin, and gold-backed Cryptocurrency Tokens, as well as to perfect the newly-targeted acquisition of a mineral property in Michigan and to cover all required corporate expenditures.
MultiCorp International, Inc., a diversified leader in health, energy, and agriculture, announces a series of strategic initiatives aimed at accelerating its growth and expanding its market presence. The company is actively pursuing joint ventures and acquisitions, is fortifying its organizational infrastructure, and is preparing for significant advancements in the stock market.
Neoforma Inc. is a Minnesota based privately held corporation and a global leader in Software & Technology. The company has now diversified into International finance including private equity and has operations globally, including India, the UAE, the UK, Mexico and the United States and serves clients globally. Its client base includes numerous global corporations as well as government entities.
Airavata Developers Corporation is a prominent international construction firm that has carved a niche for itself in the design and construction of commercial and industrial infrastructure. With a commitment to excellence, we specialize in a wide array of services that encompass every phase of the construction process, including comprehensive pre-construction planning, meticulous project management, and effective general contracting. Each of these services is tailored to meet the specific needs and demands of our diverse clientele, ensuring that we not only meet but exceed their expectations.
At the helm of our organization are the highly respected Principal Partners, Alan Khara, who serves as the Chief Executive Director and Chairman, and David D. Brannon, the Executive Financial Director. Together, they bring a wealth of experience and knowledge to the company. Their unwavering dedication extends beyond just business; they are passionately committed to fostering community excellence. This commitment is demonstrated through substantial efforts in promoting global economic development while simultaneously focusing on job creation within the communities we operate. Their leadership style emphasizes ethical practices, innovative thinking, and a deep responsibility toward societal well-being.
Airavata Developers Corporation has set forth an ambitious goal: to emerge as the global leader within this ever-evolving and dynamic construction industry. To achieve this vision, we place a strong emphasis on delivering exceptional service that stands out in a competitive marketplace. This is complemented by our proactive approach in integrating cutting-edge technology and state-of-the-art materials into our projects. By continually investing in the latest advancements in construction techniques and environmental sustainability, we ensure that our infrastructure not only meets current industry standards but also anticipates future demands.
Our commitment to quality, sustainability, and innovation drives every project we undertake, ensuring that we consistently remain at the forefront of industry trends and client expectations.
David Brannon Chief Financial Director/ Partner
About 40 Brightwater LLC:
40 Brightwater LLC is a private holding company focusing specifically on acquiring private entities and merging its holdings with public companies by leveraging its financial network and resources through its Managing Member, President & CEO Shannon Newby.
Disclaimer: This press release does not constitute an offer to sell or solicit an offer to buy, nor will there be any sale of these securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful before registration or qualification under applicable securities laws. Any offer will be made only through a prospectus supplement and accompanying base prospectus as part of an effective registration statement.
This press release is for informational purposes only and should not be considered investment advice or a solicitation to purchase securities. Forward-looking statements are not guarantees of future performance. These statements are based on current expectations and could differ materially from actual events
HONG KONG, April 14, 2025 (GLOBE NEWSWIRE) — Borqs Technologies, Inc. (U.S. OTC: BRQSF, “Borqs” or the “Company”) today announced that it has completed the sale of its core businesses to Sasken Technologies, Ltd. (India NSE: SASKEN, BSE: 532663, “Sasken”), a leading global product engineering and digital transformation services company based in India. Included in the sale were all of the Company’s embedded software design and customized hardware manufacturing of products for the Internet of Things (IoT) activities. Price for the sale totaled US$40 million, a portion will be reserved for employees, tax withholding and payments subject to an earnout arrangement linked to performance in the year 2025.
Along with customers’ contracts, technology licenses, IP, transferring of the employment agreements of key personnel and assets required for the Company’s operations, certain subsidiaries of the Company crucial for servicing the customers are included in the sale.
The acquisition will enable Sasken to support customers in designing, developing, and commercializing connected devices from concept to market. It includes ideation, IP development, software and product realization, and hardware supply chain management. Working closely with chipset partners, Sasken will create a range of connected devices, including mobile phones, tablets, smartwatches, and various IoT products.
Pat Chan, CEO of Borqs, “As we mark a significant milestone in our journey, I am proud of the exceptional achievements of our team at Borqs since our founding in 2007. Over the years, we have established ourselves as a global leader in Android and IoT technologies, delivering innovative solutions that have empowered our clients worldwide. I am confident that Sasken Technologies Limited will leverage our expertise to drive even greater success for our customers, ensuring the continued growth and prosperity of our business.”
Borqs will use the cash received from the transaction in investment activities focusing on emerging opportunities in AI and capital-related ventures, participate in shaping the future of these industries and capitalizing on the latest trends in technology.
Commenting on the acquisition, Mr. Rajiv C. Mody, Chairperson, Managing Director & CEO, Sasken Technologies Limited, said: “This acquisition reflects our commitment to expanding our technological footprint and delivering advanced solutions to meet the evolving demands of our customers. By integrating Borqs’ capabilities, we will strengthen our portfolio, improve our competitiveness, and drive future growth in high-demand markets like Automotive, SatCom, Consumer, Industrial, IoT and 5G.”
Hareesh Ramana, one of the founders of Borqs Technologies Inc and Managing Director of Borqs India will join the Sasken leadership as part of this acquisition and lead the efforts to integrate Borqs capabilities into the Sasken repertoire.
Founded in 2007, Borqs, a publicly traded company, has built a strong reputation in end-to-end wireless product solutions for mobile telecommunications and IoT. The company has strategic alliances with industry leaders like Qualcomm and works with key mobile network operators and OEMs. With about 300 employees and a presence across continents, Borqs is well-positioned to capitalize on the growing demand for IoT and 5G technologies, leveraging its software platform to offer customizable wireless product solutions across various industries, including utilities, automotive, and smart cities.
Sasken is a specialist in Product Engineering and Digital Transformation providing concept-to-market, chip-to-cognition R&D services to global leaders in Semiconductor, Automotive, Industrials, Consumer Electronics, Enterprise Devices, SatCom, Telecom, and Transportation industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than a billion devices through its services and IP. For more information, visit www.sasken.com
About Borqs Technologies, Inc.
Borqs Technologies is a global leader in software and products for the IoT, providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. Borqs has achieved leadership and customer recognition as an innovative end-to-end IoT solutions provider leveraging its strategic chipset partner relationships as well as its broad software and IP portfolio. Borqs’ unique strengths include its Android and Android Wear Licenses which enabled the Company to develop a software IP library covering chipset software, Android enhancements, domain specific usage and system performance optimization, suitable for large and low volume customized products. The Company is also currently in the development of 5G products for phones and hotspots.
Investor relations contact:
E: IR@borqs.com
Disclaimer on Forward Looking Statements: Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “predicts”, “seeks”, “may”, “might”, “plan”, “possible”, “should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect our management’s current beliefs. Many factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements, including the possibility that the transactions as described herein between Borqs and Sasken may not end up with positive benefits or at all. The reader is advised to refer to both companies’ filings with their respective securities and exchange authorities for additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Except as expressly required by applicable securities law and other regulatory requirements, the companies disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
“Wherever Palestinians have control is barbaric.” These were the words from New Zealand’s Chief Human Rights Commissioner Stephen Rainbow.
During a meeting with Philippa Yasbek from Jewish Voices for Peace, Dr Rainbow allegedly told her that information from the NZ Security Intelligence Services (NZSIS) threat assessment asserted that Muslims were the biggest threat to the Jewish community. More so than white supremacists.
But the NZSIS has not identified Muslims as the greatest threat to national security.
In the 2023 threat environment report, NZSIS stated that it: “Does not single out any community as a threat to our country, and to do so would be a misinterpretation of the analysis.
“White Identity-Motivated Violent Extremism (W-IMVE) continues to be the dominant IMVE ideology in New Zealand. Young people becoming involved in W-IMVE is a growing trend.”
Religiously motivated violent extremism (RMVE) did not come from the Muslim community, as Dr Rainbow has also misrepresented.
The more recent 2024 NZSIS report stated: “White identity-motivated violent extremism (W-IMVE) remains the dominant IMVE ideology in New Zealand. Terrorist attack-related material and propaganda, including the Christchurch terrorist’s manifesto and livestream footage, continue to be shared among IMVE adherents in New Zealand and abroad.”
To implicate Muslims as being the greatest threat may highlight Dr Rainbow’s own biases, racist beliefs, and political agenda. These false narratives, that have recently been strongly pushed by the US and Israel, undermine social cohesion and lead to a rise in Islamophobia and anti-Palestinian racism.
It is also deeply troubling that he has framed Muslim and Arab communities as potential sources of violent extremism while failing to acknowledge the very real and documented threats they have faced in Aotearoa.
The Christchurch Mosque attacks — the most horrific act of mass violence in New Zealand’s modern history — were perpetrated not by Muslims, but against them, by an individual radicalised by white supremacist ideology.
Chief Human Rights Commissioner Dr Stephen Rainbow . . . “It is also deeply troubling that he has framed Muslim and Arab communities as potential sources of violent extremism while failing to acknowledge the very real and documented threats they have faced in Aotearoa.” Image: HRC
Since that tragedy, there have been multiple threats made against mosques, Arab New Zealanders, and Palestinian communities, many of which have received insufficient public attention or institutional response.
For a Human Rights Commissioner to overlook this context and effectively invert the victim-aggressor dynamic is not only factually inaccurate, but it also risks reinforcing harmful stereotypes and undermining the safety and dignity of communities who are already vulnerable.
Such narratives are inconsistent with the Human Rights Commission’s mandate to protect all people in New Zealand from discrimination and hate.
The dehumanisation of Muslims and Palestinians As part of Israel’s propaganda, anti-Muslim and Palestinian tropes are used to justify violence against Palestinians by framing us as barbaric, aggressive, and as a threat. We are dehumanised in order to normalise the harm they inflict on our communities which includes genocide, land theft, ethnic cleansing, apartheid policies, dispossession, and occupation.
In October 2023, Dan Gillerman, a former Israeli Ambassador to the UN, described Palestinians as “horrible, inhuman animals” and was perplexed with the growing global concern for us.
That same month Yoav Gallant, then Israeli Defence Minister, referred to Palestinians as “human animals” when he announced Israel’s illegal and horrific siege on Gaza that included blocking water, food, medicine, and shelter to an entire population, the majority of which are children.
In making his own remarks about the Muslim community being a “threat” in New Zealand as a collective group, and labelling Palestinians being “barbaric”, Dr Stephen Rainbow has shattered the credibility of the Human Rights Commission. He has made it very clear that he is not impartial nor is he representing and protecting all communities.
Instead, Dr Rainbow is exacerbating divisions within society. This is a worrying trend that we are witnessing around the world; the de-humanising of groups to serve political agendas, retain power, or seek public support for war crimes and crimes against humanity.
Dr Rainbow’s appointment also points a spotlight onto this government’s commitment to neutrality and inclusiveness in its human rights policies. Allowing a high-ranking official to make discriminatory remarks undermines New Zealand’s commitment to the International Convention on the Elimination of All Forms of Racial Discrimination (ICERD) and the Universal Declaration of Human Rights.
A high-ranking official should not be allowed to engage in Islamic and Palestinian racist rhetoric without consequence. The public should be questioning the morals, principles, and inclusivity of those currently in power. Our trust is being eroded.
Dr Stephen Rainbow’s comments can also be seen as a breach of human rights principles, as he is supposed to uphold equality and non-discrimination. Yet his beliefs seem to be peppered with racism, often falsely based on religion, ethnicity, and race.
Foreign influence in New Zealand This incident also shines accountability and concerns for foreign influence and propaganda seeping into New Zealand. The Israel Institute of New Zealand (IINZ) has published articles that some perceive as dehumanising toward Palestinians.
“The Left has found a new underdog to replace the Jews — the Palestinians — in spite of the fact that the treatment of gay people, women, and political opponents wherever Palestinians have control is barbaric.”
By publicising these comments, The Israel Institute of New Zealand signalled its support of these offensive and racist serotypes. Such statements risk reinforcing a narrative that portrays Palestinians as inherently violent, uncivilised, and unworthy of basic rights and dignity.
This kind of rhetoric contributes to what many describe as anti-Arab and anti-Palestinian racism, and it warrants public scrutiny, especially when shared by organisations involved in shaping public discourse.
Importantly, the NZSIS 2024 threat report stated that “Inflammatory and violent language online can target anyone, although most appears directed towards those from already marginalised minority communities, or those affected by globally significant conflicts or events, such as the Israel-Gaza conflict.”
Other statements and reposts published online by the IINZ on their X account include:
“Muslims are getting killed, is Israel involved? No. How many casualties? Under 100,00, who cares? Why is this even on the news? Over 100,000. Oh, that’s too bad, what’s for dinner?” (12 February 2024)
“Fact. Gaza isn’t ‘ancestral Palestinian land’. We’ve been here long before them, and we’ll still be here long after the latest propaganda campaign.” (12 February 2024)
Palestinian society was also described as being “a violent, terror-supporting, Jew-hating society with genocidal aspirations.” (16 February 2025)
The “estimate of Hamas casualties, the civilian-to-combat death ratio could be as low as 1:1. This could be historically low for urban warfare.” (21 February 2025)
“There has never been a country called Palestine.” (25 February 2025)
Even showing a picture of Gaza before Israel’s bombing campaign with a caption saying, “Open air prison”. Next to it a picture of a completely destroyed Gaza with a caption that says “Victory.” (23 February 2025)
“Palestinian society in Gaza is in my eyes little more than a death loving cult of murderers and criminals of the lowest kind.” (28 February 2025)
Anti-Palestinian bias and racism Portraying Muslims and Palestinians as a threat and extremist reflects both Islamophobia and anti-Palestinian bias and potential racism. These statements risk dehumanising Palestinians and are typical of the settler colonial narrative used to erase indigenous populations by denying our history, identity and legal claim.
The IINZ has published content that many see as mocking the deaths of Palestinian Muslims and Christians, which is not only ethically questionable but can be seen as a complete lack of empathy.
And posting the horrific images of a completely destroyed Gaza, appears to revel in the suffering of others and contradicts basic ethical norms, such as decency and compassion.
There also appears to be a common theme among pro-Israeli organisations, not just the IINZ, that cast negative connotations on our national symbols including our Palestinian flag and keffiyeh.
In an article on the IINZ webpage, titled “A justified war”, they write “chorus of protesters wearing keffiyehs, waving their Palestinian and terrorist flags, and shouting about Israel’s alleged war crimes.”
It seemingly places the Palestinian flag — an internationally recognised national symbol– alongside so-called “terrorist flags,” suggesting an equivalence between Palestinian identity and terrorism. Many view this language as dehumanising and inflammatory, erasing the legitimate national and cultural characteristics of Palestinians and feeding into harmful stereotypes.
The Palestinian flag represents a people, their identity, and national aspirations.
There is nothing wrong with our keffiyeh, it is part of our national dress. The negative connotations of Palestinian cultural symbols have to stop, including vilifying other MPs or supporters who wear it in solidarity.
This is happening all too often in New Zealand and must be called out and addressed. Our keffiyeh is not just a scarf — it is a symbol of our Palestinian identity, our resistance, and our rich, historic and deeply rooted cultural heritage.
Pro-Israeli groups attack it because they aim to delegitimise Palestinian identity and resistance by associating it with violence, terrorism, or extremism.
In 2024, ISESCO and UNESCO both recognised the keffiyeh as an essential part of their Intangible Cultural Heritage lists as a way of safeguarding Palestinian cultural heritage and reinforcing its historical and symbolic importance.
As a safeguarded cultural artifact, much like indigenous dress and other traditional attire, attempts to ban or demonize it are acts of cultural erasure and need to be called out as such and dealt with accordingly.
In the same IINZ article titled “A Justified War”, the authors present arguments that appear to defend Israel’s military actions in Gaza, including the targeting of civilians.
Many within the community (most of us have been affected), including survivors and those with direct ties to the region, have found the article deeply distressing and feel that it lacks compassion for the victims of the ongoing violence, and the framing and tone of the piece have raised serious ethical concerns, especially as some statements are factually incorrect.
The New Zealand Palestinian communities affected by this unimaginable genocide are suffering. Our family members are being killed and are at threat daily from Israel’s aggression and illegal war.
Unfortunately, much rhetoric from this organisation aligns with Israeli state narratives and includes statements that some view as racist or immoral, warranting further scrutiny from the government.
There is growing public concern over the association of Human Rights Commissioner Dr Stephen Rainbow with the IINZ, which promotes itself as a research and advocacy body.
A Human Rights Commissioner requires neutrality and a commitment to protecting all communities from discrimination; aligning with Israel and publishing harmful rhetoric may lead to bias in policy decisions and discrimination.
It is also important to remember that we are not a monolithic group. Christian Palestinians exist (I am one) as well as Muslim and historically Jewish Palestinians. Christian communities have lived in Palestine for two thousand years.
This is also not a religious conflict, as many pro-Israeli groups wish the world to believe, and it is not complex. It is one of colonialism, dispossession, and human rights. A history that New Zealand is all too familiar with.
“A Human Rights Commissioner requires neutrality and a commitment to protecting all communities from discrimination; aligning with Israel and publishing harmful rhetoric may lead to bias in policy decisions and discrimination.” Image: HRC screenshot APR
The need for accountability Justice Minister Paul Goldsmith’s inaction and disrespectful response, claiming that a staunchly pro-Israeli supporter can be impartial and will be “very careful” from now on, hints that he may also support some forms of racism, in this case against Muslims and Palestinians.
Justice Minister Paul Goldsmith . . . “There needs to be accountability for Goldsmith. Why has he not removed Dr Rainbow from office and acted appropriately?” Image: NZ Parliament
You cannot address only some groups who are discriminated against but then ignore others, or accept excuses for racist, intolerable actions or statements. This is not justice.
This is the application of selective principles, enforced and underpinned by political agendas, foreign influence, and racism. Does Goldsmith understand that justice is as much about human rights, fairness and accountability as it is about laws?
Without accountability, there is no justice at all, or perhaps he too is confused or uncertain about his role, as much as Dr Rainbow seems oblivious to his?
There needs to be accountability for Goldsmith. Why has he not removed Dr Rainbow from office and acted appropriately? If Dr Rainbow had said that Jews were the biggest threat to Muslims or that Israelis were the biggest threat to Palestinians, would this government and Goldsmith have sat back and said, “he didn’t mean it, it was a mistake, and he has apologised”?
Questions New Zealanders should be asking are, what kind of Human Rights Commissioner speaks of entire peoples this way? What kind of minister, like Paul Goldsmith, looks at that and does very little?
What kind of Government claims to champion justice, while turning a blind eye to genocide? This is betraying the very idea of human rights itself.
Although we are a small country here in New Zealand, we have remained strong by upholding and standing by our principles. We said no to apartheid in South Africa. We said no to nuclear weapons in the Pacific. We said no to the invasion of Iraq in 2003.
And we must now say no to dehumanisation — anywhere. Are we a nation that upholds justice or do we sit on the sidelines while the darkest times in modern history envelopes us all?
The attacks against Palestinians, Arabs and Muslims must stop. We have already faced horrific acts of violence against us here in New Zealand and currently in Palestine. We need support and humanity, not dehumanisation, demonisation and cruelty. This is not what New Zealand is about, we must do better together.
There needs to be a formal enquiry and policy review to see if structural biases exist in New Zealand’s Human Rights institutions. This should also be done across some government bodies, including the Ministry of Education and Immigration NZ, to determine if there has been discrimination or inequality in the handling of humanitarian visas and how the Education Ministry has handled the complaints of anti-Palestinian discrimination at schools.
Communities have particular concern at how the curriculum in many schools deals with the creation of the state of Israel but is silent on Palestinian history.
Public figures should be held to a higher standard, with consequences for spreading racially charged rhetoric.
The Human Rights Commission needs to rebuild trust in our multicultural New Zealand society. The only way this can be done is through fair and just measures that include enforcement of anti-discrimination laws, true inclusivity and action when there is an absence of these.
We are living in a moment where silence is complicity. Where apathy is betrayal.
This is a test of whether New Zealand, Minister Goldsmith and this government truly uphold human rights for all, or only for some.
Source: The Conversation – USA – By Erin Baker, Distinguished Professor of Industrial Engineering and Faculty Director of The Energy Transition Institute, UMass Amherst
A turbine from the Roth Rock wind farm spins on the spine of Backbone Mountain behind the Mettiki Coal processing plant in Oakland, Md.Chip Somodevilla/Getty Images
The Trump administration is working to lift regulations on coal-fired power plants in the hopes of making its energy less expensive. But while cost is one important aspect, utilities have a lot more to consider when they choose their power sources.
Different technologies play different roles in the power system. Some sources, like nuclear energy, are reliable but inflexible. Other sources, like oil, are flexible but expensive and polluting.
How utilities choose which power source to invest in depends in large part on two key aspects: price and reliability.
Power prices
One way to compare power sources is by their levelized cost of electricity. This shows how much it costs to produce one unit of electricity on average over the life of the generator.
Coal is one of the more expensive technologies for utilities today, making it less competitive compared with solar, wind and natural gas, by Lazard’s calculations. Only nuclear, offshore wind and “peaker” plants, which are used only during periods of high electricity demand, are more expensive.
Land-based wind and solar power have the lowest estimated costs, far below what consumers are paying for electricity today. The National Renewable Energy Lab has found similar levelized costs for renewable energy, though its estimates for nuclear are lower than Lazard’s.
Upfront costs are also important and can make the difference for whether new power projects can be built, as the East Coast has seen lately.
But cost is not the whole story. Utilities must balance a number of criteria when investing in power sources.
Most important is matching supply and demand at every moment of the day. Due to the technical characteristics of electricity and how it flows, if the supply of electricity is even a little bit lower than the demand, that can trigger a blackout. This means power companies and consumers need generation that can ramp down when demand is low and ramp up when demand is high.
Since wind and solar generation depend on the wind blowing and the sun shining, these sources must be combined with other types of generation or with storage, such as batteries, to ensure the power grid has exactly as much power as it needs at all times.
Combining renewable energy and battery storage or both wind and solar can smooth out power supply dips and spikes. The Pine Tree Wind Farm and Solar Power Plant in the Tehachapi Mountains north of Los Angeles do both. Irfan Khan / Los Angeles Times via Getty Images
Nuclear and coal are predictable and run reliably, but they are inflexible – they take time to ramp up and down, and doing so is expensive. Steam turbines are simply not built for flexibility. The multiple days it took to shut down Japan’s Fukushima Daiichi Nuclear Power Plant after an earthquake and tsunami damaged its backup power sources in 2011 illustrated the challenges and safety issues related to ramping down nuclear plants.
That means coal and nuclear aren’t as helpful on those hot summer days when utilities need a quick power increase to keep air conditioners running. These peaks may only happen a few days a year, but keeping the power on is crucial for human health and the economy.
In today’s energy system, the most flexible generation sources are natural gas and hydro. They can quickly adjust to meet changing electricity demand without the safety and cost concerns of coal and nuclear. Hydro can ramp in minutes but can only be built where large dams are feasible. The most cost-effective natural gas technology can ramp up within hours.
The big picture, by power source
Over the past two decades, natural gas use has risen quickly to overtake coal as the most common fuel for generating electricity in the U.S. The boom was largely driven by the growing use of fracking technology, which allowed producers to extract gas from rock and lowered the price.
But natural gas has its challenges. Natural gas requires pipelines to carry it across the country, leading to disruptive construction. As Texas saw during its February 2021 blackouts, natural gas equipment can also fail in extreme cold. And like coal, natural gas is a fossil fuel that releases greenhouse gases during combustion, so it is also helping to cause climate change and contributes to air pollution that can harm human health.
Nuclear power has been gaining interest recently since it does not contribute to climate change or local air pollution. It also provides a steady baseload of power, which is useful for computing centers as their demand does not fluctuate as much as households.
Of course, nuclear has ongoing challenges around the storage of radioactive waste and security concerns, and construction of large nuclear plants takes many years.
Solar and wind have grown rapidly in recent years due to their falling costs and environmental benefits. According to Lazard, the cost of solar combined with batteries, which would be as flexible as hydropower, is well below the cost of coal with its limited flexibility.
However, wind and solar tend to take up a lot of space, which has led to challenges in local approvals for new sites and transmission lines. In addition, the sheer number of new projects is overwhelming power system operators’ ability to evaluate them, leading to increasing wait times for new generation to come online.
What’s ahead?
Utilities have another consideration: Federal, state and local governments can also influence and sometimes limit utilities’ choices. Tariffs, for example, can increase the cost of critical components for new construction. Permitting and regulations can slow down development. Subsidies can artificially lower costs.
In our view, policies that are done right can help utilities move toward more reliable and cost-effective choices which are also cleaner. Done wrong, they can be costly to the economy and the environment.
Erin Baker receives funding from NSF, DOE, and Sloan Foundation
Paola Pimentel Furlanetto receives funding from NSF and Sloan Foundation
Vatican City (Agenzia Fides) – “Faced with the appalling injustice of evil, we never carry the cross of Christ in vain; on the contrary, it is the most tangible way for us to share in his redemptive love.” Under a gray sky, in St. Peter’s Square filled with pilgrims, Cardinal Leonardo Sandri, Vice Dean of the College of Cardinals, gave voice to the Pope by reading Pope Francis’ homily for Palm Sunday, the day that marks the beginning of Holy Week.The Pope, who is entering his fourth week of convalescence after being hospitalized for bilateral pneumonia, was absent from the ceremony, which began, as is tradition, with the blessing of olive and palm branches at the foot of the ancient obelisk in the center of St. Peter’s Square. From there, the procession continued to the square, decorated with olive trees.As last Sunday, at the end of the celebration, the Pope appeared unexpectedly on the square, greeted by long applause. “Happy Palm Sunday! Happy Holy Week!” These were the words spoken by the Pope, who, before returning to Casa Santa Marta, stopped to greet the Cardinals present and the authorities who had participated in the rite.[embedded content]In his commentary on today’s Gospel, that of the Passion according to Luke, Pope Francis, in the homily read by Cardinal Sandri, focused on the figure of Simon of Cyrene, the man who “while coming in from the countryside” was seized by the soldiers who then “laid the cross on him, and made him carry it behind Jesus.”The Pope described this action of carrying the cross as “ambivalent” because the man from Cyrene “was forced to carry the cross: he did not help Jesus out of conviction, but out of coercion.”On the other hand, “he then becomes personally involved in the Lord’s passion,” so that “Jesus’ cross becomes Simon’s cross. He was not the Simon, called Peter, who had promised to follow the Master at all times.That Simon disappeared on the night of betrayal, even after he had exclaimed: “Lord, I am ready to go with you to prison and to death”. Yet the Master had clearly taught: “If any want to become my followers, let them deny themselves and take up their cross daily and follow me”. Simon of Galilee spoke but did not act. Simon of Cyrene acts but does not speak. Between him and Jesus, there is no dialogue; not a single word is spoken. Between him and Jesus, there is only the wood of the cross.””The cross of wood that Simon of Cyrene bore is the cross of Christ, who himself bore the sins of all humanity,” the Pope emphasized, recalling that Christ carries the cross “for love of us, in obedience to the Father, he suffered with us and for us. It is precisely in this unexpected and astonishing way, Simon of Cyrene becomes part of the history of salvation, in which no one is a stranger, no one a foreigner.”And when “we see the great crowds of men and women whom hatred and violence are compelling to walk the road to Calvary, let us remember that God has made this road a place of redemption, for he walked it himself, giving his life for us. How many Simons of Cyrene are there in our own day, bearing the cross of Christ on their shoulders! Can we recognize them? Can we see the Lord in their faces, marred by the burden of war and deprivation?Faced with the appalling injustice of evil, we never carry the cross of Christ in vain; on the contrary, it is the most tangible way for us to share in his redemptive love.” Jesus’ passion “becomes compassion whenever we hold out our hand to those who feel they cannot go on, when we lift up those who have fallen, when we embrace those who are discouraged.””In order to experience this great miracle of mercy, let us decide how we are meant to carry our own cross during this Holy Week: if not on our shoulders, in our hearts. And not only our cross, but also the cross of those who suffer all around us; perhaps even the cross of some unknown person whom chance — but is it really chance? — has placed on our way. Let us prepare for the Lord’s paschal mystery by becoming each of us, for one another, a Simon of Cyrene,” the Pope concluded.In the text of the reflection prepared for the recitation of the Angelus, released for the ninth consecutive Sunday only in written form, the Pontiff thanks all the faithful for their prayers on his behalf: “At this time of physical weakness, they help me to feel God’s closeness, compassion and tenderness even more. I too am praying for you, and I ask you to entrust all those who suffer to the Lord together with me, especially those affected by war, poverty or natural disasters.”The Bishop of Rome then turned his thoughts to Santo Domingo: “May God receive in His peace the victims of the collapse of a building in Santo Domingo, and comfort their families.” Then the appeal for peace, beginning with Africa: “The 15th of April will mark the second sad anniversary of the beginning of the conflict in Sudan, in which thousands have been killed and millions of families have been forced to flee their homes. The suffering of children, women and vulnerable people cries out to heaven and begs us to act. I renew my appeal to the parties involved, that they may end the violence and embark on paths of dialogue, and to the international community, so that the help needed may be provided to the populations.And let us also remember Lebanon, where the tragic civil war began fifty years ago: with God’s help, may it live in peace and prosperity.””May peace come at last to martyred Ukraine, Palestine, Israel, the Democratic Republic of Congo, to Myanmar, to South Sudan. May Mary, Mother of Sorrows, obtain this grace for us and help us to live this Holy Week with faith,” is the plea at the end of Pope Francis’s text. (F.B.) (Agenzia Fides, 13/4/2026)
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Source: Organization for Security and Co-operation in Europe – OSCE
Headline: Experts and policymakers work to strengthen women’s role in cybersecurity at OSCE workshop in Astana
Participants in an OSCE workshop on strengthening the role of women in cybersecurity, Astana, 9 April 2025. (OSCE/Assylbek Assylkhanov) Photo details
Cybersecurity experts and policymakers from Central Asia, South Caucasus and Mongolia explored ways to strengthen the role of women in cybersecurity at a workshop in Astana organized by the OSCE Transnational Threats Department with the support of the OSCE Programme Office in Astana from 9 to 10 April.
The 25 workshop participants discussed practical approaches for developing inclusive policies and strategies in cybersecurity and cyber diplomacy. They shared good practices from policy and academia, showcasing regional and international efforts to enhance women’s involvement. Through a practical exercise, participants considered ways to implement the OSCE’s 16 cyber/ICT security confidence-building measures in a gender-responsive way.
“We want to make our societies wealthier and give our people more opportunities — this is where cybersecurity comes into play. We want cyberspace to be a safe space for everyone to develop. By ensuring that women can also participate in the ICT sector, we are tapping into a huge potential,” said Nico Schermers, Ambassador of the Kingdom of the Netherlands in Kazakhstan and to Central Asia, during his opening remarks on behalf of the Netherlands, one of the workshop’s financial supporters.
The workshop is the second of two workshops on women’s empowerment in cybersecurity, with the first taking place in Sarajevo in March 2025. They were held as part of the OSCE extrabudgetary project “Activities and customized support for the implementation of OSCE cyber/ICT security confidence-building measures”.
Source: United Kingdom – Executive Government & Departments
Press release
UK Government statement on denial of UK MP to enter Hong Kong
The UK Government has issued a response after a UK MP was refused entry to Hong Kong.
A Government spokesperson said:
During his visit to mainland China and Hong Kong Minister for Trade Policy and Economic Security the Rt Hon Douglas Alexander relayed our immediate and deep concern regarding MP Wera Hobhouse denial of entry into Hong Kong. Minister Alexander raised our concerns and demanded an explanation with senior Chinese and Hong Kong interlocutors including Hong Kong’s Chief Secretary for Administration, to understand why the Hong Kong authorities refused access to a British MP.
It is deeply concerning that a UK MP was refused permission to enter Hong Kong last week. Unjustified restrictions on the freedom of movement for UK citizens into Hong Kong only serves to further undermine Hong Kong’s international reputation and the important people-people connections between the UK and Hong Kong.
As the Foreign Secretary has made clear, and Minister Alexander relayed in person, it would be unacceptable for any MP to be denied entry for simply expressing their views.
Source: United Kingdom – Executive Government & Departments
Scientists comment on the British Steel factory situation.
Dr Julian Steer, a Research Fellow from Cardiff University’s School of Engineering, said:
How hot do the blast furnaces get? How do the blast furnaces work? And why do we need these certain ores/materials to keep them running?
“The hottest part of the furnace can get to temperatures of up to 2200°C; the blast furnace converts Iron Oxide, supplied as Iron ore, to Iron by a counter current chemical reduction reaction where raw materials descend through the furnace as hot gases rise up through the furnace. The blast furnace is a very well optimized process that requires the reactions to occur at an even rate throughout the process. To do this, raw materials are selected based on the properties needed to produce iron continuously and efficiently.”
Why are the blast furnaces so difficult to switch back on if they turn off?
“The size, dimensions, and complex reactions in the blast furnace mean that heat distribution and heat transfer through the furnace are absolutely critical to stable iron production. Raw materials are continuously added to the top of the furnace as hot molten iron is continuously tapped from the bottom, the shear scale of this process means that the distribution of the heat through the furnace is critical at all times.”
Why is it crucial that they need to mobilise these supplies of fuel etc.?
“The production efficiency and stability of the whole process of iron production requires careful raw material selection to maintain consistent, and uniform reactions through the furnace and process.”
What can the government do if these blast furnace turn cold?
“If the furnace goes cold, the molten materials inside become solid, blocking the furnace and making any form of restart very difficult, costly and potentially terminally damaging to the furnace.”
Dr Abigail K Ackerman, Royal Academy of Engineering Research Fellow, Department of Materials, Imperial College London, said:
Blast Furnace Operation:
“A blast furnace is used to convert iron ore (hematite, Fe2O3) to pig iron (Fe) by mixing it with coke (carbon), limestone and hot air.
“Limestone is used to remove impurities, forming slag which is a waste material. The slag collects impurities, primarily silica, and is removed and used in construction materials like cement.
“The coke, which is a derivative of coal, reacts with the hot air, which is blown in at the bottom of the furnace at around 1000degC, and forms carbon monoxide (CO). The carbon monoxide reacts with the iron ore to produce molten iron and CO2, which is released as gas.
“The resultant molten liquid iron ore is tapped out at the bottom of the furnace, and is referred to as pig iron.”
Blast Furnace Temperatures:
“Blast furnaces have ‘heat zones’ in order to drive the different chemical reactions which occur within the furnaces. They are set up in a large chimney like structure and have 3 main zones:
“Top (throat) – 200degC to 600degC – Raw materials are poured in
“Middle (Stack) – 600degC to 1200degC – Iron ore starts to reduce forming gases (mainly CO) and the initial reduction of iron ore occurs. The initial reaction has the iron ore (Fe2O3) eventually reducing to FeO.
“Middle (Bosh) – 1200degC to 1600degC – The main chemical reaction occurs, where FeO reduced to Fe. The slag forms here, where limestone reacts with impurities.
“Bottom (Hearth) – up to 2000degC – Hot air (1000degC to 1200degC) is blown in at the bottom of the furnace, which causes the coke to combust and release heat and CO2.
“The molten iron and slag are collected. The slag is lighter that the molten iron so is floats on top of it and can be collected by tapping, or drilling a hole, above the molten iron and allowing the slag to flow out..
“The molten pig iron is removed by tapping, or drilling, a hole in the bottom of the furnace, and flows through guide channels to be collected and transferred to a basic oxygen furnace (BOF) to mix with carbon and make steel.
“Tap holes are made roughly every couple of hours, and then plugged back up with a clay mixture to contain the heat and molten materials in the furnace.
Essential Materials:
“Coking coal, iron ore and limestone are essential to keep the blast furnaces in Scunthorpe running, and these are the critical raw materials that are being sourced. Without these materials in the correct amounts, the chemical reaction will be disrupted and the furnace will cool as the chemical reaction absorbs heat, which is provided by the burning of coke.”
Why can’t you let it go cold?
“The high temperature of the blast furnace means the iron and slag are molten at the bottom, they are in liquid form at around 1500degC. If the furnace is allowed to cool, these materials solidify and can stick to the interior of the furnace. When the metal cools it contracts, which can cause the lining of the furnace to become damaged resulting in expensive repairs to the furnace interior before it can be heated up again.
“Additionally, blast furnaces have various inlets and outlets for pumping in hot air and extracting the molten material. When this solidifies, these can become blocked and are extremely difficult and costly to fix.
“The chemical reaction is disrupted when the furnace goes cold, and restarting this reaction can be complicated due to the heat required to melt the solicited materials, and the balance of gas and materials needed to obtain the correct chemical reaction.
“Finally, a large amount of fuel is required to restart a furnace, which is costly, and it can take anything from days to weeks to get the furnace back up to temperature and getting the correct chemical reaction to occur. It takes much more energy to melt the materials back down than to keep them at temperature. And, of course, there’s a loss of production which costs money.”
Why is it crucial to keep the Scunthorpe furnaces running?
“The Scunthorpe blast furnaces are the last remaining blast furnaces operating in the UK, and therefore the only method for the UK to produce ‘virgin’ steel, which is steel that has not been used in any other process. Other steel producers in the UK, such as TATA, have moved to using recycled steel and electric arc furnaces (EAF). Without the Scunthorpe plant, there will be an impact of the supply chain of steel to essential services such as construction, rail and defence. There will also be an impact on the Scunthorpe community, with a loss of work for the many steelworkers.”
What can the Government do if they turn cold?
“If the furnaces go cold, the options are to restart the furnaces, which will be more costly that obtaining the raw materials required to continue steel production due to the damage that will occur within the furnace from the solidification of the iron and slag, and the large amount of energy required to restart the furnaces.
“The government can choose to change the type of steel production to, for example, recycled steel using EAFs, like Port Talbot, however this will most likely result in job losses, economic impact on the people of Scunthorpe and the UK economy, and significant disruption to the UK supply chain. There is also not enough scrap steel to supply EAFs, so primary virgin steel will need to be sourced from elsewhere. The National Grid is also not set up to supply the energy required to fuel EAFs at this scale so it would be a timely and costly option.
“There is also the option to start producing green steel, which uses hydrogen as a reduction agent rather than coal based coke. However, this requires a large amount of hydrogen and the UK hydrogen economy is not set up for this scale of production currently. Nevertheless, this is the best option for long term CO2 goals.
“Finally, there is the option to close British Steel. This would again have a significant impact on the UK economy, supply chain and the local area. The loss of steel sovereignty could impact the supply chain in the long run as there would be an increased dependence on external steel suppliers, which is impacted by geopolitics.”
Prof Barbara Rossi, Associate Professor of Engineering Science, University of Oxford, said:
“Steel is the most commonly used metal in the world. Blast furnaces and electric arc furnaces are present everywhere, all over the world. There is worldwide 1.9 billion tonnes of crude steel produced per annum. UK in 2020 (then still a EU member state) was the 8th largest steel producer in the European union, which produced in total >150 million tonnes of steel in 2019, only 8% of the world total. Japan alone produced roughly 100 million tonnes, while the biggest steel producing country is currently China, which accounted for above 50% of world steel production in 2020. Globally, the steel industry emits 25% of all industrial greenhouse gases, which is more than any other industrial sector.
“The construction sector is the largest steel using sector and that is not likely to change. It accounts for more than 50% of the world steel demand, with the other major uses being the manufacture of vehicles, industrial equipment and final goods. The global population is forecast to increase to more than 9 billion people over the next 40 years. The population growth rate in Europe (and the UK) is only expected to start decreasing slightly by 2050. And, by then, about 75% will live in cities (~50% today). We still have to build the buildings and infrastructures for these cities and replace those that are damaged. When our country needs more and more new homes, new buildings, new infrastructure, we will have to go higher, more slender and leaner in dense populated areas and the need for ultra-strong and highly ductile materials like steel will become increasingly pressing.
“Steel is indefinitely recyclable, and, while it is recycled, it does not lose its performance which is an extraordinary ability inexplicably often ignored. It isn’t the case of most construction materials: other than steel, aluminium or stainless steel, you can only recycle glass indefinitely provided that you sort the type of glass appropriately. Steel is not just downcycled into a less noble material, just like an old jewel can be turned into a new one, steel can be melted over and over again.
“Recycled steel is one of the industry’s most important raw materials. We have accumulated almost 1 billion tonnes of steel only in the UK, all of which must be recycled, and, today, we generate about 10 million tonnes of scrap a year. Studies show that in the next 10-15 years, that availability of steel scrap will rise from 10 million to 20 million tonnes (global flow of steel scrap are likely to treble in the next 30 years) because all the steel made in the past will be recycled. In 2018, in Europe, this exceeded 110 million tonnes, showing that there is no scrap shortage. Despite its weak position in the scene of steel production, this is one of the advantages by which the UK could profit in the current global change of steel production.
“We have already produced the steel that we will need tomorrow. With increased availability of scrap and under our nation’s commitment to cut its domestic emissions by 2050, we can anticipate a global shift from blast furnace to electric arc furnace production. Roughly 2/3 of today’s liquid steel is made from iron ore, with the rest made from scrap, but at present >50% of the scrap originates from the manufacturing process, rather than from end-of-life recuperation. This is even though (1) on average, steel products have an approximate life horizon of 35-40 years, before being scrapped, and (2), apart from ~10% of steel that is buried (e.g., oil pipes or in building foundations), most end-of-life steel can be easily collected for recycling. Even if the total demand for steel production will increase, one can demonstrate that if most old steel is recycled, future requirements could be met entirely through increased production from scrap via electric arc furnaces. In America today, >50% of all domestic steel demand is already made by recycling domestic scrap. And since steel recycling causes significantly less greenhouse gas emissions than blast furnaces (topped by the fact that the UK already produces low emissions electricity grid, with high potential for further improvement, so recycling steel in the UK today leads to a reduction in emissions of > 2/3 compared to global average primary steel), UK need for steel recycling can be expected to grow significantly and rapidly. This will increase with more renewable generation capacity and will grow strategically important as global pressure to alleviate climate change increases.
“UK’s commitment to decarbonization need to address the emissions which are released from within UK borders. Although closing steel plants in the UK would lead to a reduction in the emissions, our future demand for steel may lead to higher global emissions if the emissions intensity in other countries is greater than that in the UK. Rather than providing extensive efforts in technologies allowing reduced emissions in primary production which require major capital investment, a more effective contribution to global mitigation would be to produce our domestic steel through electric arc furnaces combined with a massive decrease of their emissions which are directly linked to the emissions intensity of local electricity generation.
“There is nonetheless a technical limitation on the extent to which scrap can be substituted for iron ore: contaminants. Scrap composed of large pieces such as that from construction, have well controlled composition while scrap collecting from mixed waste streams have higher levels of contamination. The latter is usually sourced when scrap prices are high. As a consequence of contamination, the degree to which recycled steel can replace primary steel is capped by the inability of (a) imperfect control of metal composition in scrap steel collection and (b) today’s technologies to adjust the chemical composition of liquid steel produced with electric arc furnaces. Therefore, steel scrap supplies have to date been mostly absorbed by the lowest grade products (such as reinforcement bars).
“It is possible to vaporise unwanted metal contaminants from liquid steel by vacuum arc re-melting. This is already a commercial strength in the UK and used for making some of the highest quality steels for e.g., aerospace components. The innovation opportunity is to replicate this success at higher speed and lower cost. Other processes than vacuum arc re-melting have been tested in research laboratories but were abandoned due to lack of economic incentive. The UK, with its high volumes of scrap and its commitment to act on climate mitigation is well placed to lead the development of these technologies.
“We cannot replace steel, it’s ridiculously cheap, ultra-strong and highly ductile, and completely recyclable, fitting into any story about a circular economy. Not a single construction material taken alone can compete with steel today. But we can produce low carbon steel and build better structures, lasting longer, not harming our environment. If UK would recycle its own scrap to deliver high-quality steel satisfying its domestic demand in a closed loop it would lead to massive decrease of UK Iron and Steel emissions. This necessitates to (a) establish low-carbon steelmaking plants based on electric arc furnace, (b) develop technologies to make high quality steel from recycled scrap, i.e., examine and mitigate the causes of scrap contamination and develop the opportunities to control the chemical composition of liquid steel made via electric arc furnace, and (c) develop innovative business models to allow UK downstream steel supply-chains to prosper.”
Declared interests
Dr Julian Steer: in receipt of funding from British Steel to measure, and optimise, the performance and selection of their injection coals.
For all other experts, no reply to our request for DOIs was received.
Source: United Kingdom – Executive Government & Departments
Press release
Government steps in to back British business in changing world
The Chancellor announces a multi-billion-pound increase in government-backed financing.
British businesses across the country have today been given further stability and certainty with access to new support through a multi-billion-pound increase in government-backed financing as the world enters a new era of global trade.
The new package will give UK Export Finance (UKEF) the power to expand financing support for British businesses by £20 billion, with small businesses also able to access loans of up to £2 million through the British Business Bank’s Growth Guarantee Scheme.
Thousands of companies are expected to benefit from the move, including those directly affected by tariffs – with iconic British brands like Rolls Royce through to local businesses like Alicat Workboats previously benefitting from similar programmes.
Today’s boost reaffirms government’s commitment to free and open trade, and means an £80 billion boost for businesses, meaning they can access government-backed finance and support to grow their presence both domestically and overseas, create new jobs and drive economic growth as part of the Plan for Change.
New measures come as prime minister goes further and faster to boost growth, working in partnership with business to deliver it.
This week alone has seen swift and decisive action from the government to protect UK businesses and workers by:
Taking action to keep British Steel operating, saving thousands of jobs
Increasing flexibility on the zero-emission vehicle (ZEV) mandate to help British carmakers
Cutting the red tape that slows down clinical trials in the life sciences sector
Investing up to £600 million in a new Health Data Research Service
Backing a £30 million package to support the reopening of Doncaster Sheffield Airport which is expected to support 5,000 jobs and boost the economy by £5 billion
Chancellor of the Exchequer, Rachel Reeves said:
The world is changing, which is why it is more important than ever to back our world-leading businesses and support them to navigate the challenges ahead.
Today’s announcement will do that just, with thousands of businesses right across the country set to benefit.
We are going further and faster to boost growth, but we cannot do it alone. Only by working with businesses will we achieve our Plan for Change and put more money into people’s pockets.
Business and Trade Secretary, Jonathan Reynolds said:
Our message to British business is clear – we’ve got your back. This package, backed by the British Business Bank and UKEF, will be a crucial shot in the arm to exporters and small firms looking to trade around the world.
Within a changing world, we need to adapt, and as part of our Plan for Change, this Government is responding. These changes will help to boost growth support jobs and supercharge thousands of businesses across all four corners of the country.
UKEF will also offer businesses partial loan guarantees through more flexible uses of its Export Development Guarantee, helping to mitigate the impact of new tariffs and associated economic uncertainty. Of the £80 billion, up to £10 billion will be allocated to ensure that businesses significantly impacted in the short term by the current situation have access to the finance they need to grow.
The British Business Bank will also expand its Growth Guarantee Scheme by £500 million, which will provide vital finance for smaller businesses as they look to invest and grow. This scheme provides the lender with a 70% government-backed guarantee against loans or other types of finance, enabling lenders to support smaller businesses that would struggle to obtain financing through traditional means – and has so far enabled more than £2.1 billion of lending.
This comes on top of £1 billion of funding for British Business Bank programmes for this financial year, confirmed at Autumn Budget 2024. This includes additional support for smaller housebuilders through the ENABLE Build programme, funding for Start Up Loans and additional funding for three equity programmes supporting innovative high growth businesses
This week, the Chancellor and Business and Trade Secretary also took part in the 13th UK-India Economic and Financial Dialogue (EFD) in order to strengthen ties between the two countries. In addition to India, the UK is negotiating trade deals with partners including the Gulf Cooperation Council, South Korea and Switzerland, which will give businesses more opportunities than ever before to expand into new markets.
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Denis Manturov took part in the plenary session of the Russian-Indonesian business forum “Russia-Indonesia: Partnership Strategy”.
First Deputy Prime Minister of Russia, Chairman of the Russian-Indonesian Joint Commission on Trade, Economic and Technical Cooperation Denis Manturov arrived at the head of the Russian delegation to Indonesia (Jakarta). The working visit is taking place in the year of the 75th anniversary of the establishment of diplomatic relations between Russia and Indonesia and will last two days.
On the first day of the visit, Denis Manturov took part in the plenary session of the Russian-Indonesian business forum “Russia – Indonesia: Partnership Strategy”. The forum participants discussed key issues of bilateral cooperation in trade and investment, industry, agriculture, energy, transport, tourism and creative industries. The forum was organized by the Roscongress Foundation jointly with the Indonesian Chamber of Commerce and Industry.
Despite the difficult geopolitical situation, cooperation between Russia and Indonesia has continued to strengthen in recent years. “Work between our countries in all areas has not stopped. During this time, our trade turnover has increased significantly, to $4.3 billion last year,” Denis Manturov noted.
The First Deputy Prime Minister noted that today Russia is implementing the tasks of ensuring technological sovereignty. First of all, in high-tech industries: transport engineering, shipbuilding, pharmaceuticals, space and other areas. At the same time, Russia is open to cooperation with reliable foreign partners, in particular with Indonesia. This concerns cooperation both in the trade and economic sphere, including energy, and in humanitarian areas.
“I believe that today we have a favorable moment amidst global uncertainty – this moment has arrived, and it is especially felt in today’s business forum and discussions. The next step is to strengthen our trade. Yes, the volume of trade between our countries has increased by 30%, but this is not enough, we need more. And as President Prabowo instructed me, it is necessary to finalize the free trade agreement with the EAEU so that through it, it will facilitate the trade that both Indonesia and Russia need,” said Airlangga Hartarto, Coordinating Minister for Economic Affairs of the Republic of Indonesia.
“Negotiations on a free trade agreement are underway, and I hope that the agreement will be signed by the end of the year. You know about the initiative of the United States of America to significantly increase foreign trade tariffs, this could give additional impetus to speed up the signing of the agreement,” Denis Manturov said, answering a question from Indonesian media after the session.
“The Russia-Indonesia Business Forum, which brought together more than 500 entrepreneurs and government officials, became a platform for open and trusting dialogue between the government, business, and society of the two countries,” noted Alexander Stuglev, Chairman of the Board and Director of the Roscongress Foundation.
At the end of the plenary session of the forum, the First Deputy Prime Minister invited his Indonesian colleagues to take part in the St. Petersburg International Economic Forum, the Eastern Economic Forum and the Innoprom International Industrial Exhibition.
In the afternoon, Denis Manturov visited the Indonesian Badminton Association. Badminton is a national sport in Indonesia, and special attention is paid to its development here. Representatives of the Russian and Indonesian badminton associations told Denis Manturov about their plans for cooperation. Also during the visit, the best athletes of the Indonesian team demonstrated their skills during exhibition performances and held several friendly matches with members of the Russian delegation.
Denis Manturov also attended a gala concert dedicated to the 75th anniversary of the establishment of diplomatic relations between Russia and Indonesia. Russian and Indonesian artists and creative groups took part in it.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Hong Kong teams participating in the 50th International Exhibition of Inventions of Geneva won about 300 prizes, including two Grand Awards, seven Special Awards, about 55 Gold Medals with Congratulations of Jury and about 80 Gold Medals.
In particular, the Prize of the Republic & Canton of Geneva, one of the Grand Awards, went to the “Two-Phase Immersion Cooling System for High Performance Computer Workstation” jointly developed by the Civil Aviation Department (CAD) and the Electrical & Mechanical Services Department (EMSD). This prize represents a governmental level of honour and recognition, marking the first time for departments of the Hong Kong Special Administrative Region Government to receive this prestigious award.
The CAD-EMSD innovation provides a highly efficient heat dissipation capability for the CAD’s high-performance air traffic control tower simulator by immersing heat-generating computer components into a sealed container filled with a non-conductive cooling liquid. Heat dissipation is achieved through the vaporisation of the cooling liquid, providing a more efficient energy saving system with an extended equipment life time compared with traditional air cooling.
Meanwhile, the Hong Kong Police Force’s “Scameter Series” won another Gold Award named the International Press Prize.
The Tracking Solution for Outdoor Activity Safety, also jointly developed by CAD and EMSD, won the Gold Medal with Congratulations of Jury prize at the exhibition.
Furthermore, local public research and development (R&D) institutes, including the Productivity Council, the Nano & Advanced Materials Institute as well as the Logistics & Supply Chain MultiTech R&D Centre, also achieved outstanding results at the Edison Awards 2025, winning a total of four Gold Awards and three Silver Awards.
Secretary for Innovation, Technology & Industry Prof Sun Dong congratulated the Hong Kong teams on their remarkable achievements.
He said: “I am proud of the number of international awards received by Hong Kong teams. This is not only a significant recognition of Hong Kong’s achievements in scientific research, but also highlights Hong Kong’s strong innovation and technology (I&T) capabilities as well as our rich pool of talent.
“The achievements of the Hong Kong teams on the global stage further solidify our position in the I&T landscape in the world. The Hong Kong SAR Government will continue to invest resources and strive to build Hong Kong into an international I&T centre.”
(Joshua Quek and Edmund Tan, Operations Managers of Primech A & P)
SINGAPORE, April 14, 2025 (GLOBE NEWSWIRE) — Primech Holdings Limited (the “Company”) (Nasdaq: PMEC), an established technology-driven facility services provider in the public and private sectors operating mainly in Singapore, today announced its strategic transformation initiatives that are revolutionizing the industry through cutting-edge innovation, operational excellence, and sustainable growth strategies.
“We’re not just adapting to the future of facility services—we’re actively creating it,” said Mr. Kin Wai Ho, Chief Executive Officer of Primech Holdings. “Through our comprehensive integration of AI, robotics, and digital solutions, Primech A & P is establishing new benchmarks for efficiency, quality, and sustainability in the facility services sector.”
Pioneering Smart Cleaning Through Technology Primech A & P has invested significantly in AI-powered cleaning robots and IoT-enabled monitoring systems operating across high-traffic commercial spaces. These autonomous solutions ensure consistent hygiene standards while effectively addressing labor shortages in the industry.
The Company’s technological ecosystem includes:
Cloud-based workforce management systems for real-time operations tracking
Equipment health monitoring via software API to minimize downtime
Resource allocation optimization through performance metrics analysis
This digital transformation has enhanced service delivery while optimizing operational costs, directly benefiting customers through higher quality and more reliable facility services.
Excellence Through People and Performance Primech A & P’s market leadership is built on a foundation of workforce development and superior service standards. The Company has implemented comprehensive training and upskilling programs that equip employees with cutting-edge industry knowledge and technological expertise.
The Company currently maintains facilities at several of Singapore’s most prestigious locations, including:
Singapore’s internationally acclaimed airport
Premium commercial office buildings
Essential public spaces, including food courts
Private residential condominiums
Government housing developments
Strategic Expansion into High-Value Sectors As part of its growth strategy, Primech A & P is actively expanding into specialized sectors requiring advanced cleaning solutions:
Healthcare and Hospitals: Providing hygiene-critical cleaning for medical facilities, laboratories, and pharmaceutical environments
Road Sweeping Innovation: Conducting in-depth assessments to drive technological advancements in public infrastructure maintenance
High-Tech Environments: Delivering precision cleaning for semiconductor cleanrooms and cloud data centers
Luxury Residential and Commercial: Increasing market share in premium property segments
Environmental Leadership Primech A & P has integrated substantial eco-friendly practices into its operations, including:
Deployment of an electric vehicle fleet to reduce carbon emissions
Installation of solar panels at company headquarters
Development of sustainable cleaning methodologies
With a strong market presence, a commitment to AI-driven innovation, and a roadmap for expansion, Primech A & P presents an exciting investment opportunity. The Company’s leadership team continues to drive operational excellence, digital transformation, and sustainable growth—paving the way for the next era of smart cleaning and automation.
Primech A & P is not just shaping the future of facility services—it is revolutionizing the industry through technology, excellence, and forward-thinking solutions.
About Primech Holdings Limited Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.
Forward-Looking Statements Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
Australia’s breast cancer screening landscape is evolving, with innovation in imaging and complementary diagnostics driving a shift toward more personalized care. While mammography remains the cornerstone, new technologies such as lipid-based blood tests are improving detection in patients with dense breast tissue. This progress is expected to fuel steady growth in the mammography equipment market, which is forecast to grow at a compound annual growth rate (CAGR) of 7% through 2034, according to GlobalData, a leading data and analytics company
Aditi Dakshesh Parikh, Medical Devices Analyst at GlobalData, comments, “Traditional imaging systems are evolving with enhancements in resolution and diagnostic throughput. However, the next leap in screening outcomes is being driven by tests that complement imaging by adding a layer of precision, especially in patients where standard mammography has suboptimal effectiveness.”
Reflecting this paradigm shift, BCAL Diagnostics, an Australian and US-based biotechnology company, has introduced BREASTEST plus, a first-in-class blood test that utilizes liquid chromatography mass spectrometry to measure a defined panel of lipids indicative of a breast cancer-specific signature. Developed as a rule-out tool, BREASTEST plus is tailored for use in women with dense breast tissue—a group for whom mammography can sometimes yield inconclusive or false-negative results.
The test offers clinicians a new option to enhance diagnostic confidence alongside mammographic screening. By identifying patients unlikely to have breast cancer, it helps prioritize imaging resources and reduce unnecessary follow-ups.
Parikh concludes: “The fusion of lipidomic profiling with radiographic tools signifies a modification toward layered diagnostics. As the landscape of breast cancer screening continues to evolve, it enables earlier interventions and better patient outcomes through tailored approaches. This synergy is key to elevating the efficiency of breast cancer detection.”
At the recently held 2025 American Academy of Neurology (AAN) meeting, Remegen presented positive Phase III results for telitacicept in patients with AChR+ or MuSK+ generalized myasthenia gravis (gMG). The B cell-targeting therapy demonstrated a favorable efficacy and safety profile over 24 weeks, showing clinically meaningful improvement. These findings position telitacicept as a potential challenger to the existing disease-modifying therapies (DMTs), says GlobalData, a leading data and analytics company.
Telitacicept, given once weekly, demonstrated significant improvements in myasthenia gravis activities of daily living (MG-ADL) and quantitative myasthenia gravis (QMG) scores after just four weeks of treatment compared to placebo. The improvements were sustained through to week 24 of the trial. These data demonstrated that patients treated with telitacicept achieved clinically meaningful reductions in disease severity.
Telitacicept was also shown to be well-tolerated, with an overall adverse event (AE) incidence like that of the placebo group and an incidence of infection-related AEs that was lower than that of the placebo group.
Jos Opdenakker, Pharma Analyst at GlobalData, comments: “Displaying improvements in disease control, as measured by MG-ADL and QMG scores across a broad population that is seropositive for AChR or MuSK autoantibodies, is essential as most marketed therapies are indicated for AChR+ patients with gMG. As a DMT, telitacicept will be entering a highly competitive space in the market.”
According to GlobalData’s Drugs database, there are six DMTs currently marketed across the seven major pharmaceutical markets (7MM: The US, France, Germany, Italy, Spain, the UK, and Japan) for AChR+ patients. These include complement inhibitors and neonatal Fc receptor (FcRn) inhibitors, both of which are treatment pathways that are well-established in the MG treatment paradigm.
Opdenakker continues: “The late-stage pipeline (Phase IIb–III) is also crowded, with five other late-stage pipeline agents targeting both AChR+ and MuSK+ patients. Furthermore, there are also highly effective treatments for MuSK+ patients that are currently used off-label. Remegen will have to make an astute decision as to where it positions telitacicept in the MG treatment landscape.”
The key opinion leaders (KOLs) previously interviewed by GlobalData have noted that rituximab is a first-line treatment for patients who are MuSK+ and can induce complete remission in MG patients. If Remegen wants to position telitacicept as a first-line DMT for MuSK+ MG patients, it will be competing against the well-established rituximab, which is also available as a cheap biosimilar.
Opdenakker concludes: “With clinically meaningful improvements in MG-ADL and QMG scores, telitacicept offers hope for both AChR+ and MuSK+ patients. However, Remegen faces challenges as it enters a highly competitive market with established DMTs and several late-stage pipeline agents. Conducting head-to-head trials against these treatments can help telitacicept differentiate itself further. Telitacicept has the potential to become a valuable addition to the gMG treatment paradigm, offering new possibilities for disease management. Its success, however, depends on Remegen successfully navigating the complexities of market competition.”
The atopic dermatitis (AD) treatment landscape is witnessing intensified competition with several novel therapies nearing market entry. While biologics like dupilumab have already transformed care, emerging drug classes such as OX40 inhibitors are showing promise in clinical trials. Their potential for long-lasting efficacy and favorable safety profiles may significantly advance treatment options for moderate-to-severe AD patients, says GlobalData, a leading data and analytics company.
GlobalData’s report, “Atopic Dermatitis (AD) Epidemiology Analysis and Forecast to 2033,” reveals that the diagnosed prevalent cases of AD will register an annual growth rate of less than 1% during 2023-2033 across the seven major markets (7MM: The US, France, Germany, Italy, Spain, the UK, and Japan).
Following the introduction of Sanofi/Regeneron’s Dupixent (dupilumab), biologics have had a dramatic impact on the AD space, offering targeted treatments with minimal side effects to patients with AD, who have previously exhibited inadequate responses to topical or immunomodulatory treatments.
Although oral treatments such as Janus kinase (JAK) inhibitors have entered the market and are paving the way for other oral therapies, they have demonstrated a strong side-effect profile that may not allow them to have a similar impact to Dupixent. A new drug class that is currently being investigated is OX40 inhibitors, which target OX40 receptors and ligands, providing an anti-inflammatory effect.
Filippos Maniatis, Healthcare Analyst at GlobalData, comments: “OX40 inhibitors may be promising as AD treatments, as the key opinion leaders interviewed by GlobalData have shared their excitement about the effects that these drugs may bring to patients with AD. At the moment, Amgen/Kyowa Kirin’s rocatinlimab is at the forefront of OX40 inhibitors for AD, followed by Astria Therapeutics’ telazorlimab, and Sanofi’s amlitelimab, the readouts of which are highly anticipated by the community.”
Rocatinlimab has previously demonstrated significant improvement in disease severity, with a durable long-lasting effect, as seen in the Phase IIb, results. In addition, the recent topline results of one of the six Phase III clinical trials that have further reinforced rocatinlimab’s position, showing that 42.3% of patients who received a high dose met the improvement criteria of ≥75% improvement from baseline based on the Eczema Area and Severity Index (EASI-75), brings rocatinlimab closer to a potential approval for AD.
Maniatis adds: “Rocatinlimab is currently ahead of the other OX40s being investigated in AD, showing very promising results. Nevertheless, as Sanofi’s OX40 inhibitor amlitelimab is also in Phase III with a primary completion date in October 2025, it will be interesting to see what the outcomes reported for amlitelimab will be and how they compare to rocatinlimab’s studies.”
Telazorlimab, which is another OX40 inhibitor in the pipeline within AD developed by Astria Therapeutics, is currently behind on development, as its Phase IIb trial has been completed and the results have demonstrated a well-tolerated and clinically significant profile. Nevertheless, the excitement around this new drug remains, with the experts in the field awaiting further results to understand their potential positioning in the AD market.
Maniatis concludes: “OX40 inhibitors offer a new mechanism of action to a crowded market, with the potential of resulting in a shift in clinical practice. The potential long-lasting effects of these pipeline agents, as seen with rocatinlimab, and their good clinical profiles may offer a significant advancement in AD management, addressing current unmet needs and increasing the anticipation for these potential therapies in the AD market.”
TOKYO and CHICAGO, April 14, 2025 (GLOBE NEWSWIRE) — Tokyo-based Sumitomo Mitsui Trust Bank (“SuMi TRUST”), a leading trust bank, and Chicago-based GCM Grosvenor Inc. (“GCM Grosvenor”) (Nasdaq: GCMG), a leading global alternative asset management solutions provider, have announced a strategic partnership to offer clients best-in-class alternative investment products to capitalize on the attractive Japanese market demand for alternative investment solutions that add value to investment portfolios.
The strategic partnership further strengthens a long-term collaboration between the firms. The partnership will significantly expand both firms’ presence in global markets by leveraging SuMi TRUST’s strong presence in Japan and GCM Grosvenor’s decades of private markets expertise. SuMi TRUST Group collectively has one of the largest asset bases in Asia, with a particularly diverse client base in the Japanese market. The partnership aims to expand SuMi TRUST’s initiatives in private markets assets, expand the distribution of GCM Grosvenor’s private market investment products to investors in Japan, and jointly develop private markets investment products focused on Japanese markets for distribution to SuMi TRUST clients in Japan as well as to GCM Grosvenor clients globally. The two firms are targeting at least $1.5 billion of additional assets under management from the partnership by 2030.
“Our strategic plan envisions significant growth in private markets strategies through 2030,” said Futoshi Itani, Representative Director and Deputy President of SuMi TRUST. “We have a strong, long-standing relationship with GCM Grosvenor, built on trust, cultural alignment and a successful track record. They are a perfect partner to help us deliver opportunities to invest in private assets as market conditions and regulatory environments evolve. We will provide these private assets solutions to investors, through our strong and various channels.”
“We are thrilled to deepen our strong relationship with SuMi TRUST,” said Michael Sacks, Chairman and CEO of GCM Grosvenor. “Japan is a key growth market for GCM Grosvenor, with strong and growing demand for alternative investment solutions that match our firms’ investment capabilities, and SuMi TRUST is an ideal partner to capture the growth in this market together. This partnership aligns well with both firms’ strategic plans, and we are honored to be working with SuMi TRUST on this important initiative. The combination of our extensive private markets manufacturing experience and SuMi TRUST’s installed client base and distribution capabilities should enhance both of our firms’ growth rates.”
The two companies have collaborated since 2016 across private equity, credit, and infrastructure strategies. As part of this partnership, SuMi TRUST has agreed to purchase $50 million in newly issued shares of GCM Grosvenor Class A common stock and committed $100 million in the fourth quarter of 2024 to Elevate, GCM Grosvenor’s private equity seeding strategy.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Sumitomo Mitsui Trust Bank Sumitomo Mitsui Trust Bank, Limited forms the core of SuMi TRUST Group, a listed trust bank group in Japan, which excels in numerous trust-related business areas, such as asset management and wealth management. SuMi TRUST Group collectively has one of the largest asset bases in Asia, including both assets under custody and assets under management. With a diverse client base ranging from pension funds and other financial institutions to individuals, SuMi Trust offers a wide range of investment products, including alternative investment solutions.
About GCM Grosvenor GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.
Forward Looking Statements This press release contains forward-looking statements with respect to GCM Grosvenor under federal securities laws. All statements other than statements of historical facts contained herein, including without limitation statements regarding the expected closing of the sale of stock by GCM Grosvenor to SuMi TRUST and the strategic partnership between the parties are forward-looking statements reflecting the current beliefs and expectations of GCM Grosvenor management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements, including those included in GCM Grosvenor’s Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release, and GCM Grosvenor does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law.
TORONTO, April 14, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company“) (TSX Venture: PTK; NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks, today announced significant new customer engagement in response to live demonstrations of the POET Teralight™ line of 1.6T transmit and receive optical engines that broke performance expectations at the 2025 Optical Fiber Communications (OFC) Conference at the Moscone Center in San Francisco, California.
POET also debuted POET Blazar™, a groundbreaking external light source (ELS) that promises to shrink costs by an order of magnitude with the potential to disrupt the AI connectivity ecosystem at a time when the industry is in need of viable new solutions.
“Blazar represents a new class of laser and is designed to drive AI connectivity to the next level. It can transform the economics of AI connectivity with an architecture that reduces costs and increases scale and manufacturing efficiency,” said Dr. Suresh Venkatesan, the Company’s Chairman & CEO. “With the massive amount of compute power that AI demands, we believe that Blazar offers an economically superior solution for co-packaged optics (CPO) applications and, more importantly, for chip-to-chip, light-based connectivity in AI clusters.”
“The period immediately following OFC is a crucial one for POET and we are seeing robust engagement with existing and new customers alike,” commented Raju Kankipati, POET’s Chief Revenue Officer. “We are laser focused on driving revenue this year and preparing for substantial revenue growth in 2026.”
About POET Technologies Inc. POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.
Forward-Looking Statements This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to the success of the Company’s product development efforts, the performance of its products, including its Teralight and Blazar product lines, operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products and expectations regarding its successful development of high speed transceiver solutions and its penetration of the Artificial Intelligence hardware markets.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, the completion of its development efforts with its customers, the ability to build working prototypes to the customer’s specifications, and the size, future growth and needs of Artificial Intelligence network suppliers. Actual results could differ materially due to a number of factors, including, without limitation, the failure of its technology to meet performance requirements, the failure to produce optical engines on time and within budget, the failure of Artificial Intelligence networks to continue to grow as expected, the failure of the Company’s products to be included in products aimed at AI and datacom networks, operational risks in the completion of the Company’s projects, the ability of the Company to generate sales for its products, and the ability of its customers to deploy systems that incorporate the Company’s products. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Are twins allergic to the same things? – Ella, age 7, Philadelphia
Allergies, whether spring sneezes due to pollen or trouble breathing triggered by a certain food, are caused by a combination of someone’s genes and the environment they live in.
The more things two people share, the higher their chances of being allergic to the same things. Twins are more likely to share allergies because of everything they have in common, but the story doesn’t end there.
I’m an allergist and immunologist, and part of my job is treating patients who have environmental, food or drug allergies. Allergies are really complex, and a lot of factors play a role in who gets them and who doesn’t.
What is an allergy?
Your immune system makes defense proteins called antibodies. Their job is to keep watch and attack any invading germs or other dangerous substances that get inside your body before they can make you sick.
An allergy happens when your body mistakes some usually harmless substance for a harmful intruder. These trigger molecules are called allergens.
Y-shaped antibodies are meant to grab onto any harmful germs, but sometimes they make a mistake and grab something that isn’t actually a threat: an allergen. ttsz/iStock via Getty Images Plus
The antibodies stick like suction cups to the allergens, setting off an immune system reaction. That process leads to common allergy symptoms: sneezing, a runny or stuffy nose, itchy, watery eyes, a cough. These symptoms can be annoying but minor.
Allergies can also cause a life-threatening reaction called anaphylaxis that requires immediate medical attention. For example, if someone ate a food they were allergic to, and then had throat swelling and a rash, that would be considered anaphylaxis.
The traditional treatment for anaphylaxis is a shot of the hormone epinephrine into the leg muscle. Allergy sufferers can also carry an auto-injector to give themselves an emergency shot in case of a life-threatening case of anaphylaxis. An epinephrine nasal spray is now available, too, which also works very quickly.
A person can be allergic to things outdoors, like grass or tree pollen and bee stings, or indoors, like pets and tiny bugs called dust mites that hang out in carpets and mattresses.
A person can also be allergic to foods. Food allergies affect 4% to 5% of the population. The most common are to cow’s milk, eggs, wheat, soy, peanuts, tree nuts, fish, shellfish and sesame. Sometimes people grow out of allergies, and sometimes they are lifelong.
Who gets allergies?
Each antibody has a specific target, which is why some people may only be allergic to one thing.
The antibodies responsible for allergies also take care of cleaning up any parasites that your body encounters. Thanks to modern medicine, people in the United States rarely deal with parasites. Those antibodies are still ready to fight, though, and sometimes they misfire at silly things, like pollen or food.
Kids are less likely to develop food allergies if they try foods early in life rather than waiting until they are older. Sometimes a certain job can contribute to an adult developing environmental allergies. For example, hairdressers, bakers and car mechanics can develop allergies due to chemicals they work with.
Genetics can also play a huge role in why some people develop allergies. If a mom or dad has environmental or food allergies, their child is more likely to have allergies. Specifically for peanut allergies, if your parent or sibling is allergic to peanuts, you are seven times more likely to be allergic to peanuts!
Back to the idea of twins: Yes, they can be allergic to the same things, but not always.
Researchers in Australia found that 60% to 70% of twins in one study both had environmental allergies, and identical twins were more likely to share allergies than fraternal (nonidentical) twins. Identical twins share 100% of their genes, while fraternal twins only share about 50% of their genes, the same as any pair of siblings.
A lot more research has been done on the genetics of food allergies. One peanut allergy study found that identical twins were more likely to both be allergic to peanuts than fraternal twins were.
So, twins can be allergic to the same things, and it’s more likely that they will be, based on their shared genetics and growing up together. But twins aren’t automatically allergic to the exact same things.
Imagine if two twins are separated at birth and raised in different homes: one on a farm with pets and one in the inner city. What if one’s parents smoke, and the others don’t? What if one lives with a lot of siblings and the other is an only child? They certainly could develop different allergies, or maybe not develop allergies at all.
Scientists like me are continuing to research allergies, and we hope to have more answers in the future.
Hello, curious kids! Do you have a question you’d like an expert to answer? Ask an adult to send your question to CuriousKidsUS@theconversation.com. Please tell us your name, age and the city where you live.
And since curiosity has no age limit – adults, let us know what you’re wondering, too. We won’t be able to answer every question, but we will do our best.
Breanne Hayes Haney does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: People’s Republic of China – State Council News
HAIKOU, April 14 — The fifth China International Consumer Products Expo (CICPE), held on the tropical island province of Hainan, has reaffirmed the country’s position as a vital marketplace for global enterprises.
This year’s expo has drawn record participation from over 4,100 brands across 71 countries and regions, reflecting the expanding international appetite for engagement with China’s vast consumer market and its evolving landscape.
The UK, this year’s guest country of honor, brought 27 companies spanning fashion, beauty, and other fields. Flagship brands like Burberry and Bentley showcased their latest offerings, with a strong emphasis on green technology and sustainable development.
“I have seen the tremendous innovation and growth taking place within China’s economy in recent years, not least in digital technologies, life sciences and green energy,” said Douglas Alexander, minister of state of the UK’s Department for Business and Trade.
These areas present significant opportunities for both economies, he said, emphasizing the UK’s commitment to deepening economic ties with China.
Burberry Greater China President Josie Zhang noted the value of the expo in facilitating foreign firms to engage with local partners. “By deepening cooperation with various stakeholders, we aim to explore new market opportunities and achieve mutual growth,” she said in a written interview with Xinhua.
Slovakia also made a notable debut with its first-ever national pavilion. Andrea Jancekova, CEO of Slovak brand Truscada, praised the expo’s global reach. “You can have a good connection also with people from all over the world.”
Slovak Deputy Prime Minister Denisa Saková highlighted the expanding trade ties between the two countries. “China is one of our most important trading partners outside the European Union,” she said. “The growing volume of trade is a testament to the strength and dynamism of our economic relationship.”
Among the newcomers was Japan’s Eda Livestock Co., Ltd., known for its premium Wagyu beef. “We plan to establish a foreign trade company in Hainan as our strategic entry point into the Chinese market,” said Rei Tanaka, the firm’s chief operating officer, who participated in the CICPE for the first time.
This year’s expo also gathered an array of top-tier global luxury brands. Richemont’s TimeVallée debuted as an independent exhibitor, while LVMH and Kering Group brands made notable appearances, reflecting confidence in China’s premium consumption growth.
“Luxury consumers in China are significantly younger than those in many overseas markets, and that presents a major opportunity for us,” said Nancy Liu, president of luxury travel retailer DFS China. The company has introduced tailored services to cater to the expectations of these emerging consumer groups.
Beyond luxury, sectors like automotive and technology are repositioning China from being a mere sales destination to a research and innovation hub.
Amid China’s technological innovation momentum, this year’s expo for the first time introduced dedicated zones for artificial intelligence and the low-altitude economy, showcasing cutting-edge technologies and products from leading tech companies around the world.
“Since 2020, Volkswagen has invested over 10 billion euros in China. In particular, we have established a research and development center in China in 2023, the largest outside Germany,” said Su Bahong, vice president of Volkswagen Group China. “This shows the trend where China is becoming the global technological innovation hub.”
SINGAPORE, April 14, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced an expanded collaboration with TransUnion, a global information and insights company, to launch the innovative Credit Hero Club in Hong Kong in Q2 2025.
This joint effort builds on the success of its pilot program in 2023, during which MoneyHero launched a free credit score-checking mobile app in collaboration with TransUnion. The expanded collaboration aims to empower consumers to understand, manage, and improve their credit health more effectively, serving as a significant growth strategy and revenue driver for MoneyHero’s core credit products in Hong Kong.
Empowering Consumers with Financial Clarity
Hong Kong’s consumer credit market surpassed HK$160 billion in outstanding balance between September 2024 and November 20241. However, access to real-time credit insights remains fragmented. Credit Hero Club aims to bridge this gap, positioning MoneyHero as the leading gateway for smarter, data-driven financial decisions. Through Credit Hero Club, consumers in Hong Kong will receive the following from the MoneyHero platform:
Obtain unlimited free access to their personal credit scores, updated monthly.
Get personalized, actionable tips to enhance their creditworthiness and financial profiles.
Benefit from tailored recommendations for credit cards, loans, mortgages, and other financial products.
In the future, consumers may be able to utilize tool, which would provide an estimated probability of acceptance for various financial products in the market for their reference.
Credit Hero Club enables consumers to make informed decisions and achieve better financial outcomes, thereby strengthening MoneyHero’s relationships with customers and financial institutions alike.
Stronger Financial Outcomes for Consumers and Institutions
“We’re excited to deepen our partnership with TransUnion following our successful pilot,” said Rohith Murthy, CEO of MoneyHero. “Credit Hero Club will significantly enhance transparency and simplicity in the consumer credit journey, driving higher user engagement and conversion rates. By empowering our customers to better manage their financial health, we are simultaneously unlocking value for financial institutions, which benefit from increased access to informed, creditworthy consumers.”
“At TransUnion, we are dedicated to empowering consumers with credit literacy to pursue important life goals,” said Terri Yang, Head of Consumer Interactive Business for Asia Pacific at TransUnion. “We are excited to expand our successful collaboration with MoneyHero, which shares our vision of enabling more consumers to take control of their credit health through financial inclusion. Together, we aim to create more opportunities for consumers by facilitating proactive credit management, ultimately helping them to gain better access to financial services and achieve more in life.”
Accelerating MoneyHero’s Growth Strategy
The launch of Credit Hero Club marks a strategic milestone for MoneyHero, reinforcing its position as a leading provider of innovative digital financial services. By delivering superior customer experiences and comprehensive credit insights, MoneyHero anticipates accelerated user acquisition, increased customer lifetime value, and stronger revenue performance across its credit product portfolio in Hong Kong.
MoneyHero Limited (NASDAQ: MNY) is a market leader in the online personal finance and digital insurance aggregation and comparison sector in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 270 commercial partner relationships as at September 30, 2024, and had approximately 7.4 million Monthly Unique Users across its platform for the three months ended September 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.
DALIAN, China, April 14, 2025 (GLOBE NEWSWIRE) — CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy,” or the “Company”) a leading lithium-ion battery manufacturer and electric energy solution provider in China, jointly with Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi”), a global leader in new energy innovation, today announced a strategic partnership to establish two lithium battery production facilities in the United States. Both companies are currently evaluating potential locations for the facilities. The first facility, dedicated to battery pack assembly, is scheduled for near-term development. The second, focused on battery cell manufacturing, is envisioned as a longer-term initiative that Kandi and CBAK will pursue when market conditions are conducive. Each facility will be established as a separate joint venture, with distinct ownership structures designed to align with the unique objectives and scale of each project.
This partnership underscores CBAK’s long-term commitment to its global expansion strategy. As part of this vision, CBAK is actively evaluating locations outside of China to establish new battery manufacturing capabilities. In the near term, the Company, most likely, plans to launch small-scale battery cell production in a Southeast Asian country, while jointly pursuing the development of a battery cell manufacturing facility in the U.S. with Kandi as a longer-term initiative.
By building localized production capacity for both battery cells and battery packs, CBAK and Kandi aim to address the surging demand in North America’s growing off-road and recreational vehicle markets. This collaboration not only enhances supply chain resilience, but also aligns with the clean energy incentives outlined in the U.S. Inflation Reduction Act (IRA). Collectively, these efforts position both companies to navigate evolving global trade conditions, embrace localization trends, and drive sustainable long-term growth.
As part of the collaboration, two distinct joint ventures will be established. Kandi will lead the development of the battery pack assembly facilities and hold a 90% equity stake in that joint venture. In parallel, CBAK will take the lead on the battery cell manufacturing facilities, holding a 90% equity stake in the corresponding joint venture. Leveraging their respective expertise, the two companies will jointly develop advanced, high energy density battery systems tailored to meet the specific performance demands of off-road and powersports vehicles.
To ensure a seamless production ramp-up at Kandi’s battery pack facility, CBAK will supply battery cells at market rates—initially from its planned overseas production capacity in the near term, and later from its anticipated U.S.-based facility. This approach supports the creation of an integrated, end-to-end supply chain from battery cells to complete systems.
According to market reports1, the North American market for UTVs, golf carts, and other off-road vehicles was valued at $16.7 billion in 2024 and is projected to reach approximately $25.0 billion by 2030. The partnership is well-positioned to capture a meaningful share of the battery needs of this expanding market.
Zhiguang Hu, CEO of CBAK Energy, commented, “This collaboration with Kandi reflects our shared vision to globalize advanced battery manufacturing while adapting to the evolving U.S. market. Our expertise in cell design and production will be key to establishing a reliable local supply for emerging off-road and recreational vehicle platforms.”
Feng Chen, CEO of Kandi Technologies, commented, “This partnership with CBAK marks a strategic milestone in our North American expansion. By localizing battery cell and pack production, we’re enhancing supply chain agility and aligning with U.S. clean energy policy incentives. We are positioned to meet fast-rising demand in the off-road and recreational vehicle category, creating sustainable value for our shareholders.”
Final terms are subject to definitive agreements, and project locations and timelines may change. For more information, please refer to the official filings.
About CBAK Energy CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a leading high-tech enterprise in China engaged in the development, manufacturing, and sales of new energy high power lithium and sodium batteries, as well as the production of raw materials for use in manufacturing high power lithium batteries. The applications of the Company’s products and solutions include electric vehicles, light electric vehicles, energy storage and other high-power applications. In January 2006, CBAK Energy became the first lithium battery manufacturer in China listed on the Nasdaq Stock Market. CBAK Energy has multiple operating subsidiaries in Dalian, Nanjing, Shaoxing and Shangqiu, as well as a large-scale R&D and production base in Dalian.
For more information, please visit ir.cbak.com.cn
About Kandi Technologies Group, Inc. Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua New Energy Vehicle Town，Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Technologies Group Co., Ltd. (“Zhejiang Kandi Technologies”), formerly, Zhejiang Kandi Vehicles Co., Ltd. and its subsidiaries including Kandi Electric Vehicles (Hainan) Co., Ltd. and SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States, and its wholly-owned subsidiary, Kandi America Investment, LLC. Zhejiang Kandi Technologies has established itself as one of China’s leading manufacturers of pure electric vehicle parts and off-road vehicles.
For further inquiries, please contact:
In China:
CBAK Energy Technology, Inc. Investor Relations Department Email: ir@cbak.com.cn
________________________________
1 Sources: Global Market Insights, NextMSC, and Market Research Future.
CA Shri Charanjot Singh Nanda, President, Institute of Chartered Accountants of India; Chairpersons of the Audit Committee of the Boards, MDs & CEOs of NBFCs, and Statutory Auditors of NBFCs, Executive Directors from RBI and my colleagues from the Reserve Bank of India, Ladies and Gentlemen. A very good morning to all of you.
It is an honour to address this esteemed gathering representing the key pillars of the NBFC ecosystem -CEOs entrusted with driving business responsibly, Chairpersons of Audit Committees overseeing assurance, Statutory Auditors who ensure transparency and integrity, along with regulators and supervisors committed to maintaining financial stability and fostering a sound regulatory environment. The theme of our engagement today – “Shared Vision, Shared Responsibility – Strengthening the NBFCs” – could not be more timely or relevant.
The evolution of the NBFC sector is indeed a story of entrepreneurial energy, innovation and social impact. However, as the sector grows in scale and systemic importance, so too must our efforts to reinforce its foundations. A resilient, customer-centric, and well-governed NBFC sector is a shared aspiration – and delivering on it our shared responsibility.
NBFCs have emerged as powerful engines of credit. By complementing the traditional banking system, they have significantly expanded access to credit, particularly for segments that have historically been underserved or excluded. Through innovative credit delivery models that harness technology and local insights, NBFCs have been able to design customised financial products tailored to diverse borrower needs. Their agility and close connect with customers have enabled them to play a role that is not only complementary to the role traditionally played by banks but, in many instances, catalytic in building a financial ecosystem characterised by deeper intermediation and wider opportunity.
The importance of NBFCs has only grown with time. In fact, over the past decade, their growth has consistently outpaced that of banks – a trend that has become even more pronounced in the last few years. This rapid growth is a testament to the sector’s relevance and resilience – but it also raises the stakes. As NBFCs become more systemically important, the standards of governance, risk management, and customer treatment must rise accordingly.
Understanding the Risks- Need for Responsible Innovation
The business model of NBFCs – while effective – comes with its own set of structural risks. Their funding is short-term as compared to the maturity of their lending or is directed towards higher-risk customer segments.
This maturity and credit transformation is at the heart of the NBFC model – but it also demands a heightened focus on risk management. If not carefully managed, it can create vulnerabilities, especially during periods of market stress or liquidity shocks.
Risk-taking must be intelligent and well planned, and never beyond the risk absorption capacity of the entity concerned. Liquidity and credit risks must be rigorously assessed and managed. Asset-liability mismatches, nature and tenor of the funding sources, and concentration risks all need board-level oversight which should be ably supported by robust internal controls.
Growth with Fairness: Customer-Centricity is Non-Negotiable
Most importantly, even as we pursue scale, speed, and profits, we must not lose sight of fairness to the customer – that is the cornerstone of a sustainable business model. The NBFC sector must live up to its promise of inclusion by treating customers with dignity, transparency, and care. This entails ensuring transparent and easy-to-understand pricing, free from hidden charges or usurious interest rates. In instances of default, recovery practices must be conducted in an empathetic and respectful manner.
Unfortunately, some NBFCs think they can pursue a business model where it is par for the course to resort to weak underwriting in pursuit of quick growth, coupled with excessive and unsustainable interest rates – at times masked as upfront charges or processing fees – which is followed by aggressive recovery practices upon default. Let me state unequivocally: this is not an acceptable model. Financial inclusion cannot be used as a pretext for financial exploitation. I urge each one of you to commit your institutions to upholding fairness in all your dealings.
This responsibility for fair conduct is shared commitment by the CEO, the Board, and assurance functions in any entity. A customer-centric culture must be driven from the top and embedded at all levels.
How do we ensure that our shared vision is realised, and our collective responsibilities are fulfilled? One of the most effective ways is by strengthening both internal and external assurance mechanisms.
Strengthening Oversight: the Role of Audit Committee
Let me begin with the Audit Committee of the Board (ACB). Far from being a routine compliance requirement, the ACB is the lynchpin of institutional oversight and long-term financial health. It plays a critical role in reinforcing governance, guiding management on assurance, and ensuring the integrity of internal control systems. When functioning effectively, it becomes a proactive forum for identifying vulnerabilities and initiating timely corrective actions.
The role of the Audit Committee Chairperson is particularly significant in setting the tone for effective governance. It is essential that committee meetings are held regularly, conducted with clear purpose, and thoroughly documented to ensure accountability and follow-through.
The effectiveness of the Committee is in the substance of its deliberations. The ACB must actively monitor the adequacy and functioning of internal control systems – not merely to confirm their presence, but to ensure they are operating effectively in practice. Similarly, audit observations should not remain confined to meeting minutes; they must translate into timely and meaningful corrective actions. A strong ACB also tracks audit findings and ensures that corrective measures are implemented without delay.
Equally important is the establishment of an effective whistleblower mechanism overseen by the Board or the ACB which empowers employees and grants them anonymity, to report unethical or non-compliant behaviour, without fear of reprisal.
CEOs too have a crucial role in upholding the integrity of financial reporting. They must actively deter any attempts-whether deliberate or cleverly disguised-to misapply accounting standards or regulatory provisions. It is equally important to foster an environment where the Chief Financial Officer and Head of Internal Audit feel empowered to engage in open, honest, and transparent dialogue with the Audit Committee of the Board.
The Crucial Role of Statutory Auditors
Now let me come to the role of Statutory Auditors, who are an indispensable part of the assurance ecosystem. In fact, the role of auditors has never been more critical – not merely in checking compliance, but in upholding trust. And trust, once lost, is hard to rebuild.
Auditors are expected to provide an independent, professional opinion on whether the financial statements present a true and fair view of the NBFC’s financial position and comply with regulatory and accounting standards. However, in today’s complex and dynamic environment, this is no longer enough.
Recent incidents – both in India and abroad – have shown that traditional financial audits must evolve. Auditors must bring technical expertise, forensic insight, and an ethical lens to their work. Red flags must not be ignored. Complex structures, derivatives, off-balance sheet items, related party transactions, and provisioning policies must be closely examined.
Facilitative Role of Regulators and Supervisors
As regulators and supervisors, we shoulder a dual responsibility – to safeguard stability and discipline, while also fostering an environment that encourages innovation, inclusion, and sustainable growth. Contrary to perception in certain quarters, our approach actively seeks to strike the right balance. At the Reserve Bank of India, we are acutely aware that regulation is not merely about control; it is about enabling responsible financial intermediation within a well-defined and transparent framework. Several initiatives in recent years reflect this facilitative and proportionate approach to regulation. In my previous role as a commercial banker, I had the fortuitous opportunity to be closely associated with one such initiative -the Regulations Review Authority 2.0 – which reinforced the RBI’s strong commitment to easing the regulatory burden and streamlining compliance without compromising regulatory objectives.
The regulatory framework for NBFCs has evolved in the recent years with this understanding – gradually moving toward greater harmonisation with banks where warranted, while still preserving operational flexibility suited to the unique role NBFCs play in the financial system. The introduction of the scale-based regulatory framework explicitly recognises that the intensity of regulation and supervision must be proportionate to systemic importance. At the same time, the regulatory architecture encourages the development of responsible innovation and healthy competition in the sector.
Similarly, the role of the supervisor has also become more interactive and forward-looking. It is not just about identifying compliance breaches after the fact, but about engaging with entities to strengthen internal systems, enhance governance, and build resilience against emerging risks. Through onsite inspections, offsite surveillance, thematic reviews, and structured engagements, the supervisory process aims to be a partner in the financial sector’s long-term soundness – not an impediment to its progress.
Conclusion
Our shared vision is clear: a dynamic, inclusive, and trusted NBFC sector that complements the banking system and serves the evolving needs of the Indian economy. And the way to achieve it is through shared responsibility – in governance, in customer protection, in financial prudence, and in ethical conduct.
We in the regulatory community stand committed to supporting this journey. Our intent is not to stifle innovation but to ensure that growth is sustainable, risks are well-managed, and customer trust is never compromised. On behalf of the RBI, I can assure you that as regulators and supervisors we will remain committed to playing our part, not just as watchdogs, but as enablers of a robust, inclusive, and future-ready financial ecosystem.
This conference gives us an opportunity to reflect on how we can contribute to this shared agenda. Whether making strategic decisions, chairing audit committees, or signing off on financials, drafting regulations or conducting supervision – we are shaping the sector’s future.
Therefore, let us work together – with clarity of purpose and unity of action – to build a stronger, fairer, and more resilient NBFC ecosystem. Wealth creation should not just be for personal or institutional gain but to support the community, reflecting a sense of shared responsibility amongst all of us, in our pursuit to achieve an inclusive growth for all and realise the vision of Viksit Bharat 2047.
With this I wish you all fruitful and enriching deliberations over the course of this conference and look forward to the ideas and insights that will emerge in pursuit of our shared vision. Thank you for this opportunity and wish you all good luck, Jai Hind!
A leaked “working paper” on New Caledonia’s future political status is causing concern on the local stage and has prompted a “clarification” from the French government’s Minister for Overseas Manuel Valls.
Details of the document, which was supposed to remain confidential, have been widely circulated online over the past few days.
Valls said earlier the confidentiality of the document was supposed to ensure expected results of ongoing talks would not be jeopardised.
However, following the leak, Valls said in a release on Friday that, for the time being, it was nothing more than a “working paper”.
The document results from earlier rounds of talks when Valls was in Nouméa during his previous trips in February and March 2025.
Valls is due to return to New Caledonia on April 29 for another round of talks and possibly “negotiations” and more political talks are ongoing behind closed doors.
French Minister of Overseas Manuel Valls (front left) greets the New Caledonian territorial President Alcide Ponga (right) as Senator Georges Naturel looks on during his arrival for a military honours ceremony in Nouméa in February. Image: AFP/RNZ Pacific
He has denied that it can be regarded as a “unilateral proposal” from Paris.
The latest roundtable session was on Friday, April 11, held remotely via a video conference between Valls in Paris and all political stakeholders (both pro-France and pro-independence parties) in Nouméa.
All tendencies across the political spectrum have reaffirmed their strong and sometimes “non-negotiable” respective stances.
Parties opposed to independence, who regard New Caledonia as being part of France, have consistently maintained that the results of the latest three referendums on self-determination — held in 2018, 2020 and 2021 — should be respected. They reject the notion of independence.
The last referendum in December 2021 was, however, largely boycotted by the pro-independence movement and indigenous Kanak voters.
On the pro-independence side, the Kanak and Socialist National Liberation Front (FLNKS, dominated by the Union Calédonienne) is announcing a “convention” on April 26 — just three days before Valls’s return — to decide on whether it should now fully engage in negotiations proper.
In a news conference last week, the FLNKS was critical of the French-suggested approach, saying it would only commit if they “see the benefits” and that the document was “patronising”.
Two other pro-independence parties — the PALIKA (Kanak Liberation Party) and the UPM (Union Progressiste en Mélanésie) — have distanced themselves from the FLNKS, which they see as too radical under Union Calédonienne’s influence and dominance) and hold a more moderate view.
PALIKA held a general meeting late last week to reaffirm that, while they too were regarding the path to sovereignty as their paramount goal, they were already committed to participating in future “negotiations” since “all topics have been taken into account” (in the working document).
They are favour an “independence association” pathway.
Carefully chosen words In his release on Friday, Valls said the main pillars of future negotiations were articulated around the themes of:
“democracy and the rule of law”, a “decolonisation process”, the right to self-determination, a future “fundamental law” that would seal New Caledonia’s future status (and would then, if locally approved, be ratified by French Parliament and later included in the French Constitution);
the powers of New Caledonia’s three provinces (including on tax and revenue collection matters); and
a future New Caledonia citizenship (and its conditions of eligibility) with the associated definition of who meets the requirements to vote at local elections.
Citizenship On acquiring New Caledonia citizenship, a consensus seems to emerge on the minimum time of residence: it would be “10 to 15” years with other criteria such as an “exam” to ascertain the candidate’s knowledge and respect of cultural “values and specificities”.
Every person born in New Caledonia, children and spouses of qualified citizens, would also automatically qualify for New Caledonia’s citizenship.
Power-sharing On power-sharing, the draft also touches on the “sovereign” powers (international relations, defence, law and order, justice, currency) which would remain within the French realm, but in a stronger association for New Caledonia.
All other powers, regarded as “non-sovereign”, would remain under direct control of New Caledonia as they have already been transferred, gradually, to New Caledonia, over the past 27 years, under the Nouméa Accord.
New Caledonia would also be consulted on all negotiations related to the Pacific islands region and would get representation at European Union level.
Local diplomats would also be trained under France’s Ministry of Europe and Foreign Affairs.
Under the Nouméa Accord, the training process was already initiated more than 10 years ago with New Caledonian representatives appointed and hosted at French embassies in the region — Fiji, New Zealand, Australia.
A local “strategic committee” would also be set up on defence matters.
However, despite long-time FLNKS demands, this would not allow for a seat at the United Nations.
In terms of currency, the present French Pacific Francs (CFP, XPF) would be abolished for a new currency that would remain pegged to the Euro, provided France’s other two Pacific territories (French Polynesia, Wallis-and-Futuna — which are also using the CFP) agree.
Reinforced provincial powers A new proposal, in terms of reinforced provincial powers, would be to grant each of New Caledonia’s three provinces (North, South and Loyalty Islands) the capacity — currently held by New Caledonia’s government — to generate and collect its own taxes.
Each province would then re-distribute their collected tax revenues to the central government and municipalities.
This is also reported to be a sensitive point during the talks, since about 80 percent of New Caledonia’s wealth is located in the Southern Province, which also generates more than 90 percent of all of New Caledonia’s tax revenues.
This is perceived as a concession to pro-France parties, which are calling for an “internal federation” model for New Caledonia, a prospect strongly opposed by pro-independence parties who are denouncing what they liken to some kind of “partition” for the French Pacific dependency.
In the currently discussed project, the representation at the Congress (Parliament) of New Caledonia would be revised among the three provinces to better reflect their respective weight according to demographic changes.
The representation would be re-assessed and possibly modified after each population census.
Under the proposed text, New Caledonia’s government would remain based on the notion of “collegiality”.
Future referendum — no more just ‘yes’ or ‘no’ to independence The current working paper, on the right to self-determination, suggests that any future referendum on self-determination no longer has a specified deadline, but should take place after a “stabilisation and reconstruction” phase.
It would no longer ask the binary question of “yes” or “no” to independence and full sovereignty, but rather seek the approval of a “comprehensive project”.
To activate a referendum, the approval of at least three fifths of New Caledonia’s 54-seat Congress would be needed.
The Congress’s current makeup, almost equally split in two between pro-France and pro-independence parties, this 3/5th threshold could only be found if there is a consensual vote beyond party lines.
Some of the FLNKS’s earlier demands, like having its president Christian Téin (elected in absentia in August 2024 ) part of the talks, now seem to have been dropped.
Téin was arrested in June 2024 for alleged involvement in the May 2024 insurrectional riots that caused 14 dead (including two French gendarmes), hundreds of injured, thousands of jobless and the destruction of several hundred businesses for a total estimated damage of 2.2 billion euros (NZ$4.3 billion).
Four days after his arrest, Téin was transferred from New Caledonia to mainland France.
Although he is still remanded in custody pending his trial (for alleged involvement in organised criminal-related acts), his case was recently transferred from the jurisdiction of judges in Nouméa to mainland France magistrates.
Union Calédonienne president and pro-independence front man Emmanuel Tjibaou told public broadcaster NC la 1ère yesterday he was in regular contact with Téin from his jail in Mulhouse (northeastern France).
Another recent development that could also be perceived as a concession to the FLNKS is that last week, France announced the replacement of French High commissioner Louis Le Franc, France’s representative and man in charge in Nouméa during last year’s riots.
‘We are facing a decisive moment’, says Valls Valls said he remained hopeful that despite “all positions remaining at present still far from each other . . . evolutions are still possible”.
“I reaffirm the (French) State’s full commitment to pursue this approach, in the spirit of the Matignon and Nouméa Accords (signed respectively in 1988 and 1998) to build together a united, appeased and prosperous New Caledonia,” Valls concluded.
“We are facing a decisive moment for the future of New Caledonia, which is confronted with a particularly grave economic and social situation. Civil peace remains fragile.”
The much sought-after agreement, which has been at the centre of political talks since they resumed in early 2025 after a three-year hiatus, is supposed to replace the Nouméa Accord from 1998.
The 1998 pact, which outlines the notion of gradual transfer of sovereign powers from France to new Caledonia, but also the notion of “common destiny”, stipulates that after three referendums on self-determination resulting in a majority of “no”, then the political partners are to meet and “discuss the situation thus created”.
Determination, anxiety and hope On all sides of the political landscape, ahead of any outcome for the crucial talks, the current atmosphere is a mix of determination, anxiety and hope, with a touch of disillusionment.
The pro-independence movement’s Emmanuel Tjibaou has to manage a sometimes radical base.
He told NC la 1ère that the main objective remained “the path to sovereignty”.
Within the pro-France camp, there is also defiance towards Vall’s approach and expected results.
Among their ranks, one lingering angst, founded or not, is to see an agreement being concluded that would not respond to their expectations of New Caledonia remaining part of France.
This worst-case scenario, in their view, would bring back sad memories of Algeria’s pre-independence process decades ago.
On 4 June 1958, in the midst of its war against Algeria’s National Liberation Front (FLN), French President General De Gaulle, while on a visit to Algiers, shouted a resounding “Je vous ai compris!” (“I have understood you”) to a crowd of cheering pro-France and French Algerians who were convinced at the time that their voice had been heard in favour of French Algeria.
On 19 March 1962, after years of a bloody war, the Evian Accords were signed, paving the way for Algeria’s independence on July 3.
“I had to take precautions, I had to proceed progressively and this is how we made it”, De Gaulle explained to the French daily Le Monde in 1966.
In the meantime, in an atmosphere of fear and violence, an estimated 700,000 French citizens from Algeria were “repatriated” by boat to mainland France.
As an alternative posed to French nationals at the time, FLN’s slogan was “la valise ou le cercueil” (“the suitcase or the coffin”).
This article is republished under a community partnership agreement with RNZ.
Source: People’s Republic of China – State Council News
HANOI, April 14 — Xi Jinping, general secretary of the Communist Party of China Central Committee and Chinese president, attended here on Monday a welcome ceremony held by To Lam, general secretary of the Communist Party of Vietnam Central Committee.
Secretary-General of ASEAN, Dr. Kao Kim Hourn, this afternoon delivered a special lecture on ‘ASEAN-Japan Comprehensive Strategic Partnership: Peace, Prosperity, and People’ at the Kansai University.
In his speech, Dr. Kao outlined the deep and dynamic partnership between ASEAN and Japan which has grown over the past 50 years. He also reinforced the importance of youth engagement in addressing future challenges, encouraging young people to engage in cultural exchanges and collaborative initiatives.
Ultimately, Dr. Kao encouraged the next generation to take an active role in enhancing this partnership and to leverage their potentials as changemakers in shaping a more inclusive, sustainable future for both ASEAN and Japan.
Download the full remarks here.
The post Secretary-General of ASEAN delivers special lecture at Kansai University in Japan appeared first on ASEAN Main Portal.
Posted on Apr 12, 2025 in Latest Department News, Newsroom
STATE OF HAWAIʻI
KA MOKU ʻĀINA O HAWAIʻI
DEPARTMENT OF LAW ENFORCEMENT
KA ʻOIHANA HOʻOKŌ KĀNĀWAI
JOSH GREEN, M.D.
GOVERNOR
KE KIAʻĀINA
MIKE LAMBERT
DIRECTOR
KA LUNA HOʻOKELE
OʻAHUCOMMUNITY GUN BUYBACK PROGRAM NETS 367 FIREARMS
Residents Received $37,900 in Grocery Gift Cards
FOR IMMEDIATE RELEASE
April 12, 2025
HONOLULU – O‘ahu residents today turned in an estimated 367 firearms of all types in exchange for $37,900 in Foodland gift cards distributed by the Hawai‘i Department of Law Enforcement (DLE), as part of efforts by the administration of Governor Josh Green, M.D., to protect Hawai‘i residents from gun violence. The Department of the Attorney General, Honolulu Police Department and the Aloha Stadium Authority are partnering in this initiative.
“I want to thank everyone who turned in an unwanted firearm today, because in doing so, you have helped to make our community that much safer,” said Governor Green. “Keeping ourselves and each other safe and healthy is a personal choice that also benefits our neighbors. We thank DLE Director Mike Lambert for continuing this effort and for our partners’ help in this ongoing gun buyback program.”
“We are working to make our community safer in many ways, including initiatives like this gun buyback program. These unwanted guns will never again be used. They will never again pose any type of threat to a loved one or have an opportunity to be used in a crime,” said Department of Law Enforcement Director Mike Lambert.
Individuals who turned in the following firearms were thanked with Foodland gift cards given in exchange:
$200 Foodland gift card for automatic firearms of any type, semi-automatic rifles, ghost guns.
$100 Foodland gift card for handguns, rifles, shotguns, bump stocks, Glock switches
There was no limit on the number of firearms turned in, but individuals were limited to receiving a maximum of three gift cards total. DLE personnel accepted both working and non-working firearms and also offered gun locks for anyone who didn’t wish to turn in a gun, but still wanted to make their firearms safe. Licensed gun dealers, as well as active and retired law enforcement officers, were not eligible to participate.
DLE continues to plan for gun buyback events on the neighbor islands. “Neighbor island police officers attended today’s event and were also present during previous events,” said DLE Deputy Director Jared Redulla. “The neighbor island officers are observing to learn the various tasks associated with the gun buyback program so that events can be run on the neighbor islands in the future.” Plans for future gun buyback events will be announced as scheduled.
DLE thanks the 2024 Legislature for appropriating funding in the fiscal year 2025 budget for the April 12 event.
This is an amnesty program, in which no questions were asked about the person dropping off any firearms. No identification was required. On-site officials reserved the right to refuse acceptance of firearms or issuing of gift cards.
News Release – DOH Reports Sixth Travel-Related Dengue Virus Case of 2025
Posted on Apr 11, 2025 in Latest Department News, Newsroom
STATE OFHAWAIʻI
KA MOKU ʻĀINA OHAWAIʻI
DEPARTMENT OFHEALTH
KA ʻOIHANAOLAKINO
JOSH GREEN, M.D. GOVERNOR
KE KIA‘ĀINA
KENNETH S. FINK, M.D., MGA,MPH DIRECTOR
KA LUNAHO‘OKELE
DOH REPORTS SIXTH TRAVEL-RELATED DENGUE VIRUS CASE OF 2025
FOR IMMEDIATERELEASE
April 11, 2025 25-035
HONOLULU — The Hawai‘i Department of Health (DOH) has confirmed a new travel-related case of dengue virus on Oʻahu, bringing the total number of dengue cases to six in the state in 2025 (one on Maui, five on Oʻahu). The affected individual in this current case was exposed to the virus while traveling in a region where dengue is common. This case is unrelated to the dengue case previously reported on April 10, 2025.
DOH teams have been deployed to conduct inspections and implement mosquito control measures in the affected area. The public is encouraged to follow best practices to help prevent local transmission, as outlined below.
Dengue virus is transmitted from an infected person to a mosquito, and then to another person. While Hawai‘i is home to the mosquitoes that can carry dengue, the disease is not endemic (established) in the state, and cases are currently limited to travelers. Several regions worldwide are experiencing higher-than-usual dengue activity.
Dengue outbreaks occur in many parts of the world, including Central and South America, Asia (including the Republic of the Philippines), the Middle East, Africa, and several Pacific Islands, such as U.S. territories like American Samoa, the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau. Many popular tourist destinations in the Caribbean, including Puerto Rico, are also affected.
In 2024, there were 16 travel-related cases of dengue reported in the state of Hawaiʻi. Cases reported travel to the following countries prior to symptoms onset: Brazil, Argentina, Costa Rica, El Salvador, Guatemala, Mexico, Puerto Rico, Honduras, Indonesia, Thailand, Japan, Philippines and India. All destinations listed are areas where dengue is known to be endemic.
Anyone who plans to travel to or has recently visited an area with dengue risk is vulnerable to infection. The Centers for Disease Control and Prevention (CDC) advises travelers to take standard precautions when visiting such areas. This includes using an Environmental Protection Agency (EPA)-registered insect repellent, wearing long-sleeved shirts and long pants outdoors, and sleeping in air-conditioned rooms, rooms with window screens, or under insecticide-treated bed nets. Some countries are reporting increased dengue cases, so travelers should review up-to-date country-specific travel information for guidance on dengue risk and prevention measures at least four to six weeks before traveling.
Travelers returning from dengue-endemic areas should take precautions to prevent mosquito bites for three weeks. If dengue symptoms develop within two weeks of return, travelers should seek medical evaluation.
Symptoms of dengue can range from mild to severe and include fever, nausea, vomiting, rash and body aches. Symptoms typically last two to seven days, and while severe illness can occur, most people recover within a week. Individuals who have recently traveled and are experiencing these symptoms should contact their healthcare provider.
In areas with suspected or confirmed dengue cases, DOH personnel from the Vector Control Branch (VCB) are conducting inspections and mosquito-reduction activities. Reducing mosquito populations lowers the risk of dengue transmission to others. In areas without reported dengue cases, eliminating mosquito breeding sites around the home is a helpful preventive measure.
Mosquitoes need only small amounts of standing water to breed. Common breeding sites include buckets, water-catching plants (such as bromeliads), small containers, planters, rain barrels and even cups left outside. Pouring out containers of standing water can significantly reduce the potential for mosquito breeding.
For more information, visit the Disease Outbreak Control Division (DOCD) and Vector Control Branch (VCB) websites.
VICTORIA, Seychelles, April 14, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, Bitget ended the first quarter of 2025 with $2.08 trillion in total trading volume, driven by a sharp 159% increase in spot trading, which reached $387 billion. The spike came amid heightened market participation and sustained momentum across new listings and core product lines.
User growth remained strong. Bitget added 4.89 million users on its CEX platform and 15 million users on Bitget Wallet in Q1 alone, bringing the platform’s global user base to over 120 million—a nearly 20% rise. Bitget’s native token, BGB, had a volatile but net-positive quarter. The period also saw the introduction of a refreshed roadmap for BGB, outlining expanded utility in staking, Launchpad participation, and integrations with new DeFi ecosystems. A quarterly burn schedule remains in place to manage supply-side pressures.
Security stayed front and center, especially after a record-breaking $2.1 billion was lost to crypto hacks industry-wide. Bitget transferred nearly $100 million in ETH to Bybit after its breach, a move that signaled a rare but critical exchange-to-exchange alignment in times of crisis. Meanwhile, Bitget’s Proof-of-Reserves consistently exceeded the 130% mark through Q1. Its Protection Fund grew from $495 million in January to $514 million by March, tracking a cautious yet upward trend in asset reserves.
“This quarter’s performance shows the value of staying agile in a volatile environment. In the next quarter, we will continue to focus on institutional-grade infrastructure and double down on expanding its Web3 presence through our ecosystem. Compliance remains a key pillar as the exchange navigates tighter global oversight while staying anchored to its core ethos: helping users trade smarter,” said Gracy Chen, CEO at Bitget.
Beyond product performance, Bitget broadened its global footprint through on-ground events and targeted initiatives. It entered motorsports by sponsoring Brazilian driver Flávio Sampaio in the 2025 Porsche Carrera Cup and hosted Ramadan-focused gatherings across MENA and Asia. Over 60,000 meals were distributed during the holy month through donations from local partners.
The Blockchain4Her initiative, launched in 2024 with $10 million earmarked for long-term deployment, marked its first anniversary. The program welcomed three new ambassadors and ran activations in Southeast Asia and Eastern Europe aimed at onboarding more women into Web3.
Bitget also advanced its infrastructure and integrations. AI-backed trading tool Bitget Seed was introduced to identify and list early-stage tokens with strong on-chain signals. Integrations with Zen and Callpay improved fiat onramps across Europe and South Africa. BGB’s liquidity expanded further through Morph Chain and Bulbaswap.
Bitget continues to scale its infrastructure, onboard new users, and optimize for resilience. With a robust user pipeline, rising token activity, and new partnerships in motion, the platform is set for another strong quarter.
For the full Q1 2025 full report, please visit here.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.
Risk Warning:Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
Source: Hong Kong Government special administrative region
Analytical Accounts of Exchange Fund Foreign assets, representing the external assets of the Exchange Fund, decreased during the month by HK$24.0 billion to HK$3,415.9 billion.
The Monetary Base, comprising Certificates of Indebtedness, Government-issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$1,977.1 billion.
Claims on the private sector in Hong Kong amounted to HK$342.3 billion.
Foreign liabilities amounted to HK$30.7 billion.
The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).
At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s SDDS. The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of April 2025, the scheduled dates for issuing the press releases are as follows:
April 7 (Issued)(Hong Kong’s Latest Foreign Currency Reserve Assets Figures) (Analytical Accounts of the Exchange Fund) Foreign Currency Liquidity Currency Board Account Issued at HKT 16:30
