Category: Asia Pacific

MIL-OSI Global: What ‘The White Lotus’ gets wrong about the meaning and goals of common Buddhist practices

Source: The Conversation – USA – By Brooke Schedneck, Associate Professor of Religious Studies, Rhodes College

Thai men can be ordained from a few days to the rest of their lives. Pakin Songmor/Moment via Getty Images

The new season of “The White Lotus” is set on a luxury resort on the Thai island of Koh Samui. This comedy-drama series, which critiques wealthy tourists, focuses one plotline on foreigners who arrive in Thailand with an interest in engaging with its Buddhist traditions.

It depicts a young American woman who is interested in joining a yearlong meditation program at a Buddhist temple, even though Thai temples do not offer such programs. It also portrays a temple environment with many foreigners staying there long term, not dressed in typical clothing for residents of a temple – unusual in Thailand – and inaccurately describes the Buddhist view of the afterlife.

I have studied Buddhism in Thailand for over a decade, including the diverse ways in which Thai Buddhists practice their religion. While the Thai Buddhism depicted in The White Lotus is not completely realistic, there are several authentic ways to engage deeply with Buddhism, ranging from offering donations to short meditation retreats to ordination as a monastic.

Generosity and Buddhist laity

Without donations, Buddhist temples and monastic institutions could not exist.

The lay community provides for monks and temples, in exchange for the spiritual currency of merit, which is believed to turn into good karma. This good karma is believed to produce favorable conditions in this life and the next life, such as attaining wealth or being reborn into a privileged family.

Some laypeople might give food to monks as they walk on their alms rounds every morning, while others may visit the temple only on most Buddhist holidays. The main intention behind interacting with a monk or visiting a temple is to make merit. Each temple has donation boxes for specific funds it needs, such as paying the electricity bill, completing renovation projects, providing education for young monks and funding the monastic community’s health care.

People can take home blessed objects such as a lucky candle or small amulet in exchange for a small donation. In some temples, a monk’s duty is to sit inside one of the main halls and wait until the laity comes to receive offerings and give blessings.

Meditation retreats

Temples with meditation centers generally offer meditation retreats for a short period of time. Many offer 10-day retreats; participants can also sign up for a 21-day program in the north of Thailand, where they will aim to spend their days in 10-15 hours of meditation and minimize any other activity, including sleep.

Participants in the 21-day program aim to reach the first of the four stages of enlightenment within Thai Theravada Buddhism. Buddhists believe that those who attain the first stage have “entered the stream” of enlightenment and are guaranteed to attain it within seven lifetimes.

Contrary to popular Western beliefs about Buddhist meditation, it is not viewed as a secular practice. Thai Buddhists believe that meditation is a meritorious activity, helping them not only to ultimately leave the cycle of rebirth but also to accumulate merit and good karma along the way – in this life and future ones.

At a meditation center, every moment is spent in mindfulness of every action, along with periods of formal walking or sitting meditation. All meditation centers have a structured program and schedule that practitioners, typically dressed in white pants and top, must follow individually or in group periods of meditation.

Ordination of men and women

Ordination is an important part of the Buddhist life course. Thai Buddhists often enter a monastery for a short period of time, temporarily being ordained as a monk or nun. Even for those who intended to enter for life but choose to leave the monastic life, the process is simple; it usually carries no shame or disappointment. However, if a monk was well known for his teaching, his followers would likely feel upset.

In Theravada Buddhism, the kind of Buddhism practiced in Thailand, there are two levels of ordination: novice and full “bhikkhu” – the term for a fully ordained male. Males under the age of 20 may pursue only novice ordination, while those over 20 can become fully ordained monks.

It is often considered a rite of passage, or at least a sign of discipline and maturity, for a male to have been ordained at some point in his life. Temporary ordination is seen as a way for men to make merit for their parents, especially their mothers, who sacrificed so much for their existence.

Women are generally not allowed to be ordained in Thai Buddhism, but some have received ordination in Sri Lanka, where they are allowed to be monks, and set up communities in Thailand, which are gaining in popularity. These female monastic practice centers have initiated temporary ordination programs for female monks, or “bhikkhuni.”

These centers host special programs once or twice a year, where up to 100 women, including international visitors, can ordain as novice female monks for a short period. During this time, they learn what it is like to wear the robes, receive offerings and study the Buddhist texts.

Many women find this opportunity meaningful because they can offer merit to their parents, which was previously only available to a male.

Thai women fighting to be ordained.

Women can also ordain temporarily or long term as a “mae chi” in Thailand, or a precept nun. They usually follow Eight Precepts, including celibacy, wearing white robes and shaving their head. Although more accepted today in Thailand as a role for Buddhist women than bhikkhuni, this category of ordination was not initiated by the Buddha. Precept nuns are believed to have existed for centuries, but without a clear origin.

These are some common ways in which Thai Buddhists practice Buddhism, often with the goal of achieving prosperity in this life and a better rebirth. Such practices, Buddhists believe, may also get them closer to the ultimate aspiration of enlightenment.

Brooke Schedneck 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.

– ref. What ‘The White Lotus’ gets wrong about the meaning and goals of common Buddhist practices – https://theconversation.com/what-the-white-lotus-gets-wrong-about-the-meaning-and-goals-of-common-buddhist-practices-251769

MIL OSI – Global Reports –

March 28, 2025
MIL-OSI Economics: Japan Airlines’ new AI app will make it easier for cabin attendants to report inflight events with Microsoft’s Phi‑4 small language model

Source: Microsoft

Headline: Japan Airlines’ new AI app will make it easier for cabin attendants to report inflight events with Microsoft’s Phi‑4 small language model

Read the story in Japanese

TOKYO, Japan – On a small percentage of flights, despite everyone’s best intentions, something unplanned happens. A passenger gets sick or a flight has a long delay.

After the cabin attendant attends to these kinds of situations, the senior cabin attendant writes up a report so ground staff can follow up – such as making sure there’s a wheelchair waiting at the gate or re-arranging onward travel.

Logging a single case, depending on complexity, can take an hour or more, taking time away from other inflight duties. Now Japan Airlines (JAL) is developing an AI app that can generate these handover reports by cabin attendants simply typing in a few keywords and phrases and checking a series of boxes – which can all be done while in the sky, even when connectivity isn’t dependable.

“The JAL-AI Report makes our cabin attendants’ jobs more productive,” said Keisuke Suzuki, a senior vice president of JAL’s Digital Technology Department. “They can spend more time on customer service instead of doing administrative work.”

Keisuke Suzuki, a senior vice president in charge of JAL’s Digital Technology Department, said the JAL-AI Report will generate reports faster, giving cabin attendants more time with passengers. Photo by Noriko Hayashi for Microsoft.

The JAL-AI Report is being developed using Microsoft’s Phi-4 small language model or SLM, which requires less computing power than the large language models or LLMs most generative AI tools run on, so it can be used offline on a device for specific tasks.

Cabin attendants who have tried it say it can slash the time for writing operation reports by up to two thirds, say, from one hour to 20 minutes, or from 30 minutes to 10 for simpler cases.

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The app also translates the reports with one tap from Japanese to English, a task needed on international flights.

Making an AI app work offline

Japan’s flagship carrier operates a fleet of 227 planes flying worldwide and serves 66 countries and regions including code sharing. Last year, it ranked sixth amongst the world’s best airlines for customer satisfaction according to Skytrax. Its current group chief executive Mitsuko Tottori is the first woman to lead the airline, having risen up the ranks from cabin attendant.

The JAL-AI Report is being developed with the help of Microsoft’s Azure AI Foundry and using Microsoft’s Phi-4 SLM.

While LLMs are good for tackling complex tasks that need advanced reasoning and analysis, SLMs can handle simpler tasks and run locally on a device rather than the cloud.

Japan Airlines is building an AI app, the JAL-AI Report, for cabin attendants to report situations on board for ground staff to act on. Photo by Noriko Hayashi for Microsoft.

They can also be fine-tuned with less data. The JAL-AI Report is fine-tuned on 100 previous reports, said Ryuto Ikeuchi, an AI engineer from Headwaters, which together with Fujitsu, are the system integrators for the project.

The goal is for these apps to be usable in environments with weak Wi-Fi, such as the outdoor ramp and inflight.

Manabu Yamawaki is leading JAL’s generative AI charge. Photo by Noriko Hayashi for Microsoft.

JAL chose the Phi-4 small language model because “even though there is Wi-Fi inflight, some areas have bad connection,” said Manabu Yamawaki, manager of security planning in the System Management Department of JAL, who is leading the airline’s generative AI charge.

Tech in flight

Takako Ukai joined JAL as a cabin attendant 35 years ago. She says she likes meeting and talking to people from around the world.

The business has changed over the years. With the advent of low-cost carriers, passengers now expect more from full-service carriers like JAL, she said, adding: “The challenge is how to serve better than expectations.”

“In the past [if something happened], we verbally conveyed information about connecting passengers to the crew of the next flight. Now we have to report it on a tablet, as an official report so [the cabin attendant on] the next flight knows and ground staff knows.”

Ukai is currently a member of the airline’s employee experience team, providing a cabin attendant’s point of view to JAL’s digital transformation team.

Right now, when there is an episode, the senior cabin attendant fills out a template on a tablet. This includes a section of free text where they type in chronological order what happened. To do this, the senior crew member may have to interview the cabin attendant involved and maybe also the passenger involved.

Takako Ukai, cabin attendant, at JAL’s training facility at Haneda Airport. Photo by Noriko Hayashi for Microsoft.

“There are frequent interruptions to serve passengers, so you can’t do it all at once. Sometimes, you have to rework many times,” Ukai said.

The JAL-AI Report app speeds it up by taking cabin attendants through a series of checkboxes – whether the category is medical, flight delay, etc. – and also what the situation was – stomachache, fever, maintenance and so on. The cabin attendant then types a series of keywords or phrases in bullet points briefly noting what happened, for example – “Fever.” “Seat 3H.” “Moved seat and lay down.” “Requesting to go clinic.”

The AI might have questions – such as whether a doctor was called, or whether the captain or ground staff were told, to prevent omissions in reporting.

Once that’s done, the cabin attendant taps on a button to generate the complete report. Another button translates from Japanese to English if needed.

The app can cut the time for reporting down to about 20 mins from an hour, Ukai said.

Better quality reports

Of the 1,000 flights JAL flies each day, a small percentage involves such report creation when an event requiring a handover occurs, said Yamawaki. These reports get sent to relevant departments – from security to customer service and other kinds of ground staff.

Yamawaki’s remit has grown over the years as the use of electronics has grown on board – from software security to inflight entertainment to Wi-Fi and now generative AI.

He thinks that in addition to saving time, the JAL-AI Report could help improve quality, as some cabin attendants currently write in more detail than necessary.

Chief cabin attendants Maya Tanaka and Takako Ukai at Haneda Airport in Tokyo. Noriko Hayashi for Microsoft.

Once the proof-of-concept period is over at the end of March, he said, the challenge is making sure the system works well offline.

In the future, he would like the JAL-AI Report to be able to receive verbal accounts from those involved – cabin attendants or passengers, transcribe and summarize the information and generate a report.

“Improved voice handling is high priority,” he said.

The JAL-AI Report app is part of a wider roll-out of generative AI across JAL that began in mid-2023. All of the group’s 36,500 employees now have access to AI tools grouped under JAL-AI Home on the Microsoft Azure OpenAI platform for administrative tasks like drafting emails, summarizing and translating documents and more.

JAL sees opportunities to “put generative AI at the center of the business and bring changes in operations and customer service,” Suzuki said. “We are excited to have the AI and humans work together.”

Top Image: Chief cabin attendant Maya Tanaka tests out the JAL-AI Report at Japan Airlines’ training facility in Haneda Airport. Photo by Noriko Hayashi for Microsoft.

MIL OSI Economics –

March 28, 2025
MIL-OSI: WRAP Bolsters Leadership with Top 1MDB Investigators and FBI Veteran Rob Heuchling to Drive Technology Commercialization for Transnational Crime Solutions
Source: GlobeNewswire (MIL-OSI)

WRAP Expands Capabilities: Leveraging Investigative Expertise in Financial Crimes, Crypto and Cybersecurity to Commercialize Managed Services Offering

MIAMI, March 27, 2025 (GLOBE NEWSWIRE) — Wrap Technologies, Inc, (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global leader in innovative public safety technologies and non-lethal tools, today announced the appointment of Robert Heuchling as Managing Director of the Company, bringing over 15 years of experience from the Federal Bureau of Investigation (“FBI”) and providing advisory services to the Company’s executive team.

Wrap plans to expand its managed service business lines, with Mr. Heuchling expected to play a key role in commercializing an offering that combines his investigative expertise with his deep familiarity with a wide range of investigative data sets, tools and technologies. Wrap also plans to develop unique technology solutions that integrate advanced investigative capabilities, empowering agencies to address complex financial crimes, cyber threats and transnational law enforcement challenges with greater efficiency and precision.

While at the FBI, Mr. Heuchling supervised a squad based in New York City responsible for foreign corruption, international money laundering and antitrust investigations. In that role, Mr. Heuchling forged relationships with law enforcement agencies across the globe and developed strategies to collaborate with foreign counterparts to solve complex transnational crime cases.

Mr. Heuchling will once again be working with his former FBI supervisor, Bill McMurry, Chief Executive Officer of Managed Services. Together, Mr. McMurry and Mr. Heuchling led the U.S. investigation into 1Malaysia Development Berhad, or 1MDB, a Malaysian sovereign wealth fund from which more than $4.5 billion was stolen through a complex fraud and corruption scheme involving individuals from multiple countries. The investigation resulted in the largest asset recovery in U.S. Department of Justice history and is considered a model for success in international investigations.

Jared Novick, President of Wrap, stated: “The addition of Rob Heuchling, joining his former colleague Bill McMurry at Wrap, provides our global clients and the agencies we support with a unique opportunity to leverage their unparalleled expertise alongside our advanced technologies. We believe their deep investigative experience in financial crimes, cyber threats and transnational law enforcement, combined with Wrap’s cutting-edge solutions, will allow us to deliver unmatched support for the most pressing challenges facing law enforcement and security professionals worldwide. We are thrilled to have them on board as we expand our managed services and drive innovation in public safety.”

Background

Prior to joining the FBI, Mr. Heuchling served as an engineer and communications officer in the United States Navy. He is a graduate of the Medill School of Journalism at Northwestern University and has received numerous accolades from both the FBI and the military. His honors include:
- the Assistant Attorney General’s Exceptional Service Award;
- the Federal Law Enforcement Foundation’s “Investigator of the Year” Award;
- the FBI Medal of Excellence; and
- the Naval Commendation Medal.
About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap’s BolaWrap^® solution is a safer way to gain compliance—without pain.

This innovative, patented device deploys light, sound, and a Kevlar^® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap^® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

Wrap Reality™ VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

Wrap Intrensic is an advanced body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.

Trademark Information Wrap, the Wrap logo, BolaWrap^®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders. Cautionary Note on Forward-Looking Statements – Safe Harbor Statement This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations. Investor Relations Contact: (800) 583-2652 ir@wrap.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f9f323f-41be-4b9e-8c86-0cc26de2ab82

This press release was published by a CLEAR® Verified individual.

The MIL Network –
March 28, 2025
MIL-OSI Security: Milton — RCMP dismantles Cannabis network that had approximately 17,000 illegal plants
Source: Royal Canadian Mounted Police

Ontario RCMP have seized and destroyed cannabis grown at three large-scale illegal grow sites. The RCMP’s Greater Toronto Area Trans-National Serious & Organized Crime Section (GTA-TSOC) has charged six individuals for operating a complex illicit cannabis production and distribution network in Ontario.

This investigation began in the Summer of 2022, after the Ontario Provincial Police (OPP) referred the matter for investigation to the RCMP. During the investigation, approximately 17,000 cannabis plants were seized and destroyed. The RCMP estimate that these operations could have an annual production value of over $16 million dollars. Each of the sites were staffed with full-time live-in workers, none of whom have legal status to work and grow cannabis in Canada. The criminal network was also linked to the operation of two other illicit cannabis production sites in Ontario which were dismantled by the OPP and the Toronto Police Service. The criminal network exported the illicit cannabis to the United States and Hong Kong, with further plans to expand distribution into Europe.

The RCMP allege millions of dollars in profits from this operation were laundered through the Canadian banking system by a sophisticated identity fraud scheme. They applied for Health Canada authorizations to produce medicinal cannabis using the identity of individuals who were not aware of the applications. These authorizations were then used to obtain commercial leases and expand the group’s cannabis production.

As a result of the investigation, the following individuals were charged:

Shao Bo “Barry” Xie (age 45) of Toronto, Ontario
- Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act (x3);
- Unlawful possession of cannabis for the purpose of selling, contrary to Section 10 of the Cannabis Act;
- Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
- Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
- Conceal/convert proceeds of crime, contrary to Sec 462.31 of the Criminal Code;
- Identity Theft, contrary to Section 402.1 of the Criminal Code;
- Use forged document, contrary to Section 368 of the Criminal Code;
- Make false document, contrary to Section 366 of the Criminal Code;
- Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
- Conspiracy to use forged document, contrary to Section 368 and Section 465 of theCriminal Code.
Feng Gao (age 42) of Toronto, Ontario
- Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
- Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
- Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
- Conceal/convert proceeds of crime, contrary to Sec 462.31 of the Criminal Code;
- Identity Theft, contrary to Section 402.1 of the Criminal Code;
- Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
- Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code.
Shan “Sam” Gao (age 34) of Toronto, Ontario
- Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
- Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
- Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
- Use forged document, contrary to Section 368 of the Criminal Code;
- Make false document, contrary to Section 366 of the Criminal Code;
- Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
- Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code.
Xu Han (age 26) of Toronto, Ontario
- Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
- Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
- Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
- Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
- Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code.
Fang Han (age 30) of Toronto, Ontario
- Unlawful cultivation of cannabis, contrary to Section 12 of the Cannabis Act;
- Conspiracy to cultivate cannabis, contrary to Section 12 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to sell cannabis, contrary to Section 10 of the Cannabis Act and Section 465 of the Criminal Code;
- Conspiracy to export cannabis, contrary to Section 11 of the Cannabis Act and Section 465 of the Criminal Code;
- Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code; and
- Conceal/convert proceeds of crime, contrary to Sec 462.31 of the Criminal Code.
Zdena “Denise” Mesko (age 61) of Sarnia, Ontario
- Identity Theft, contrary to Section 402.1 of the Criminal Code;
- Use forged document, contrary to Section 368 of the Criminal Code;
- Possession of property/proceeds of crime, contrary to Section 354 of the Criminal Code;
- Conspiracy to impersonate for advantage, contrary to Section 403 and Section 465 of the Criminal Code; and
- Conspiracy to use forged document, contrary to Section 368 and Section 465 of the Criminal Code
All of the accused were arrested at the RCMP Toronto West Detachment and released on an undertaking. Their first court appearance is scheduled to be held on May 7th, 2025, at the Ontario Court of Justice located at 10 Armoury Street in Toronto, Courtroom 1001 at 09:00 a.m.

The RCMP would like to thank a number of law enforcement and partner agencies including the Ontario Provincial Police-led Provincial Joint Forces Cannabis Enforcement Team (OPP-PJFCET), Peel Regional Police Service (PRPS), Toronto Police Service (TPS), Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada Border Services Agency (CBSA), Health Canada, and the United States Homeland Security Investigations (HSI).

“The collaboration and teamwork between the RCMP Federal Police and our provincial and municipal law enforcement partners underscores our collective commitment to battling transnational organized crime at all levels in Ontario, Canada and abroad.”
Inspector Nicole Noonan, Officer in charge of Federal Policing – Transnational, Serious & Organized Crime, Toronto West Detachment, Royal Canadian Mounted Police

Law enforcement agencies work diligently to make our communities a safer place to live but your assistance in remaining vigilant and informing us of any suspicious activities will help us be even more effective. If you have any information in relation to illicit cannabis production, you can contact your local police, the Ontario RCMP at 1-800-387-0020 or anonymously through Crime Stoppers at 1-800-222-8477 (TIPS), at any time.

MIL Security OSI –
March 28, 2025

MIL-OSI Economics: WMA Limit for Government of India for April – September 2025

Source: Reserve Bank of India

It has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the first half of the financial year 2025-26 (April to September 2025) will be ₹1,50,000 crore.

The Reserve Bank of India may trigger fresh floatation of market loans when the Government of India utilises 75 per cent of the WMA limit.

The Reserve Bank of India, in consultation with the Government of India, retains the flexibility to revise the limit at any time taking into consideration the prevailing circumstances.

The interest rate on WMA/Overdraft will be as under:

WMA: Repo Rate
Overdraft: Two percent above the Repo Rate

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/2482

MIL OSI Economics –

March 28, 2025

MIL-OSI China: Vice premier calls for safeguarding free trade at Boao annual conference

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

BOAO, Hainan, March 27 — The Boao Forum for Asia (BFA) Annual Conference 2025 opened on Thursday in Boao, south China’s Hainan Province.

Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, attended the opening ceremony, calling for strengthening mutual trust, enhancing win-win cooperation, promoting economic globalization and safeguarding the free trade system.

Founded in 2001, the BFA is a non-governmental and non-profit international organization committed to promoting regional economic integration and bringing Asian countries closer to their development goals. Running from March 25 to 28, this year’s conference is themed “Asia in the Changing World: Towards a Shared Future.”

Addressing the opening ceremony, Ding said that significant progress has been made in building an Asian community with a shared future over the past decade.

“China and ASEAN have established a comprehensive strategic partnership, and the Regional Comprehensive Economic Partnership has entered into effect,” the vice premier said.

He added that regional economic integration has been strengthened, and Asia’s share in the global economy is steadily rising.

“Our world is experiencing far greater instability and uncertainty,” Ding noted, calling for joint efforts to address global challenges, build a shared Asian home and usher in a brighter future for Asia and beyond.

It is necessary to strengthen solidarity and cooperation through greater mutual trust, Ding said. Efforts should be made to champion the Asian values built around peace, cooperation, inclusiveness and integration, and respect each other’s core interests and major concerns, he added.

Ding stressed the importance of promoting economic globalization through openness and integration, urging efforts to jointly safeguard the free trade system, uphold open regionalism, and firmly oppose trade and investment protectionism.

To promote prosperity and development through mutual benefit and win-win cooperation, it is imperative to deliver on the Global Development Initiative and actively improve people’s livelihood, Ding noted.

He underscored the need of safeguarding tranquility and stability through peaceful coexistence. The vision of common, comprehensive, cooperative, and sustainable security in Asia should be upheld, while efforts should be made to ensure that Asia continues to be a land of peace and stability, Ding said.

On the Chinese economy, Ding said economic performance in the country has been running steadily with a stronger outlook.

The country will do its best to fulfill this year’s goals and tasks for economic and social development, he said. “China is confident of realizing these goals and will contribute to development in Asia and the world.”

China’s innovation-driven growth has gathered stronger momentum, presenting opportunities not only for the country itself but also for Asia and the world, Ding said.

Describing opening up as a distinct hallmark of Chinese modernization, the vice premier pledged that China will open wider to the world no matter how the external environment changes.

“We warmly welcome businesses from all countries to invest and operate in China, join in the process of Chinese modernization, and share in China’s development opportunities,” he said.

Thursday’s opening ceremony was attended by more than 1,500 representatives from over 60 countries and regions, including officials, business leaders and scholars.

MIL OSI China News –

March 28, 2025
MIL-OSI China: China, New Zealand hold first round of talks on services trade negative list

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

BEIJING, March 27 — China and New Zealand have held the first round of negotiations on a services trade negative list under their free trade agreement (FTA), China’s Ministry of Commerce said Thursday.

The talks, held in Beijing from March 25 to 26, made positive progress and focused on establishing the principles, scope and framework for the negative list negotiations, the ministry said in a statement.

The ministry added that the two countries will implement important consensus reached by their leaders while actively advancing the negotiation process to elevate bilateral trade and investment cooperation.

The FTA was signed in April 2008 and came into effect in October of the same year. In January 2021, the two sides signed an upgraded protocol to the FTA, further deepening practical cooperation across various sectors.

MIL OSI China News –

March 28, 2025
MIL-OSI China: Panel discussions held during Boao Forum for Asia

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

Panel discussions held during Boao Forum for Asia

Updated: March 27, 2025 21:07 Xinhua

A panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” is held during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Akylbek Zhaparov, former chairman of the Cabinet of Ministers of the Kyrgyz Republic, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Yasiru Bandara Ranaraja, founding director of the Belt and Road Initiative Sri Lanka, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Ai Yilun, general manager of Hainan State Farms Investment Holdings Group, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Ricardo Arroja, president of Portuguese Trade and Investment Agency, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Liu Qiao, dean of the Guanghua School of Management at Peking University, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Albert Park, chief economist of the Asian Development Bank, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Benjamin Simpfendorfer, partner of Oliver Wyman, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

MIL OSI China News –

March 28, 2025
MIL-OSI USA: The United States remained the world’s largest liquefied natural gas exporter in 2024

Source: US Energy Information Administration

In-brief analysis

March 27, 2025

The United States exported 11.9 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) in 2024, remaining the world’s largest LNG exporter. LNG exports from Australia and Qatar—the world’s two next-largest LNG exporters—have remained relatively stable over the last five years (2020–24); their exports have ranged from 10.2 Bcf/d to 10.7 Bcf/d annually, according to data from Cedigaz. Russia and Malaysia have been the fourth- and fifth-largest LNG exporters globally since 2019. In 2024, LNG exports from Russia averaged 4.4 Bcf/d, and exports from Malaysia averaged 3.7 Bcf/d.

U.S. LNG exports remained essentially flat compared with 2023 mainly because of several unplanned outages at existing LNG export facilities, lower natural gas consumption in Europe, and very limited new LNG export capacity additions since 2022. In December 2024, Plaquemines LNG Phase 1 shipped its first export cargo, becoming the eighth U.S. LNG export facility in service. We estimate that utilization of LNG export capacity across the other seven U.S. LNG terminals operating in 2024 averaged 104% of nominal capacity and 86% of peak capacity, unchanged from the previous year. While Europe (including Türkiye) remained the primary destination for U.S. LNG exports in 2024, accounting for 53% (6.3 Bcf/d) of the total exports, the share of U.S. LNG exports to Asia increased from 26% (3.1 Bcf/d) in 2023 to 33% (4.0 Bcf/d) in 2024. U.S. LNG exports to other regions, including the Middle East, North Africa, and Latin America, also increased last year and accounted for 14% (1.6 Bcf/d) of total exports, compared with 8% (0.9 Bcf/d) in 2023.

In 2024, U.S. natural gas exports to Europe decreased by 19% (1.5 Bcf/d), mostly to countries in the EU and the UK. U.S. LNG exports increased only to Türkiye and Greece in 2024—by 0.2 Bcf/d and 0.1 Bcf/d, respectively, compared with 2023. Türkiye imported more U.S. LNG compared with the prior year mainly to offset a decline in imports from other countries, such as Egypt and Russia. U.S. LNG exports to other EU countries and the UK decreased by 24% (1.7 Bcf/d) compared with 2023, primarily because of lower natural gas consumption and high storage inventories following the mild 2023–24 winter. At the same time, LNG import capacity in the EU and the UK expanded by more than 40% between 2021 and 2024 and will continue to grow in 2025 once new and expanded regasification facilities in Croatia, Cyprus, and Italy come online.

As in 2023, the Netherlands, France, and the UK imported the most U.S. LNG among countries in Europe, accounting for a combined 46% (2.9 Bcf/d) of the regional total. Since Germany started LNG imports in December 2022, U.S. LNG exports to Germany have grown and averaged 0.6 Bcf/d in both 2023 and 2024. However, in early 2025, Germany reduced its regasification capacity by terminating a charter for one of its floating storage and regasification units, citing high operational costs.

In 2024, countries in Asia imported 33% (4.0 Bcf/d) of total U.S. LNG exports. Among countries in Asia, Japan, South Korea, India, and China imported the most U.S. LNG—a combined 76% (3.0 Bcf/d). U.S. LNG imports increased the most in India—by 0.2 Bcf/d. Other countries in Asia imported 24% (1.0 Bcf/d) of U.S LNG.

In other regions, Egypt—a natural gas producer and LNG exporter—imported 0.3 Bcf/d of LNG from the United States, its first U.S. LNG imports since 2018. In recent years, Egypt’s domestic natural gas consumption, particularly in summer months, exceeded available supply and turned Egypt from an exporter to an importer of natural gas during several months of the year. In Brazil and Colombia, imports of U.S. LNG increased last year because drought reduced hydropower electricity generation and increased demand for generation from natural gas-fired power plants.

Principal contributor: Victoria Zaretskaya

MIL OSI USA News –

March 28, 2025
MIL-OSI Europe: ASIA/PHILIPPINES – In a nation divided over Duterte’s judicial affair, the Church preaches and works for unity

Source: Agenzia Fides – MIL OSI

Manila (Agenzia Fides) – In a country torn apart by the trial of former President Rodrigo Duterte, indicted by the International Criminal Court (ICC) for crimes against humanity committed during the “war on drugs” he waged (see Fides 11/03/2025), the Catholic Church in the Philippines is trying to restore national unity, while society – which is preparing, among other things, for the midterm elections next May – appears increasingly divided into pro-Duterte and anti-Duterte groups.One of the first measures adopted by Catholic communities is prayer: in a period considered extremely critical, the Archbishop of Manila, Cardinal José Advincula, invites the faithful to “overcome differences and be open to a constant conversion towards truth, justice and peace.” For this reason, the Cardinal issued a public appeal for an “oratio imperata,” a “compulsory prayer” for the nation, to be recited daily during Mass in all parishes of the archdiocese starting on the third Sunday of Lent.For the Catholic community, this time – which coincides with Lent -should be an opportunity for conversion: The imprisonment of former President Rodrigo Duterte in The Hague could be a “special grace,” “a spiritual opportunity,” according to Msgr. Patricio Buzon, Bishop of Bacolod, who urged Rodrigo Duterte’s supporters to “change their perspective.” The time in prison is like a spiritual retreat, said Bishop Buzon, adding: “After all, Duterte is his son. God wants him to be saved, because ‘God takes no pleasure in the death of the wicked, but rather that he turns from his ways and lives’ (Ez 18:23).” The bishop stigmatized “the blind fanaticism that is tearing us apart as a people”: “It is time to put our love for our country above any political loyalty,” he said.Among the countermeasures devised by Duterte’s supporters is the so-called “No Remittances Week”: As a form of protest, large groups of Filipinos abroad -more than 10 million people -plan, especially in Europe, to block remittances, the economic contributions sent home that are a vital support to the national economy. This measure would negatively impact thousands of Filipino families. Bishop Ruperto Santos of Antipolo said: “Freezing remittances, even if only temporarily, could devastate the lives of these families and leave them vulnerable, as they will struggle to make ends meet,” and there are fears of a “domino effect” on businesses and communities that depend on this flow of money. “As a bishop, I call for unity and dialogue. Let us seek peaceful and constructive ways to address problems without harming our families and our nation” in order to “promote healing and support the common good.” Archbishop Monsignor Jose Cabantan of Cagayan de Oro on the island of Mindanao – the region where Duterte had the most supporters – rejected claims that a daily Mass was being celebrated in the cathedral “for the return of former President Rodrigo Duterte to the Philippines.” The Eucharist, like all Masses, was “not dedicated to any particular person, group, or political cause,” he wrote. The archbishop emphasized the Church’s commitment to neutrality and to ensuring that “places of worship remain spaces of faith, reflection, and unity,” and urged the faithful to work for “peace, unity, and justice.”Meanwhile, the office of Philippine President Ferdinand Marcos Jr. reiterated that it would not cooperate with the International Criminal Court regarding the charges of crimes against humanity filed against former President Rodrigo Duterte, “since the Philippines does not recognize the jurisdiction of the ICC.” The government rejected claims that the transfer of former President Rodrigo Duterte to the ICC was due to a dispute between Marcos and Duterte, stressing that “there is nothing personal about the arrest.” Other politicians emphasized that “beyond political advantages, the country’s sovereignty and the interest in true justice for every Filipino must remain a priority”. (PA) (Agenzia Fides, 27/3/2025)
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MIL OSI Europe News –

March 28, 2025
MIL-OSI: Haivision Unveils Falkon X2: Pushing the Boundaries of 5G Video Transmission for Live Broadcasting
Source: GlobeNewswire (MIL-OSI)

MONTREAL, March 27, 2025 (GLOBE NEWSWIRE) — Haivision (TSX:HAI), a leading global provider of mission-critical, real-time video networking and visual collaboration solutions, proudly introduces Falkon X2, the game-changing 5G mobile video transmitter that pushes the boundaries of live broadcast contribution with pristine 4K UHD video, ultra-low latency, and maximum portability.

Designed for broadcasters who thrive on delivering the highest-quality live coverage of sports, breaking news, and events from even the most remote corners of the globe, Falkon X2 sets a new standard for reliability, versatility, and innovation in live production. Dual-modem, quad-antenna 5G technology with state-of-the-art 2×2 MIMO support ensures seamless connectivity, long range, and maximum efficiency, even under challenging conditions.

From its sleek, lightweight design to its intuitive touchscreen interface, Falkon X2 is engineered with field teams in mind—making live streaming easier, faster, and incredibly dynamic. Whether camera-mounted or carried in a backpack, this cutting-edge transmitter liberates storytellers to focus on the action with full freedom of movement, while its integrated rechargeable battery supports hours of uninterrupted transmission.

Beyond portability, Falkon X2 redefines operational efficiency with remote management, enabling master control teams to take the reins from anywhere, while on-site broadcasters focus on capturing the moments that matter most. And with capabilities like 4:2:2 10-bit HDR video and both SDI and HDMI inputs, Falkon X2 is set to empower visual storytelling in its most vivid and engaging form.

“We are thrilled to introduce the Falkon X2, which sets a new standard in live video transmission over bonded cellular,” said Jean-Marc Racine, Chief Product Officer at Haivision. “With the Falkon X2, broadcasters now have a highly efficient solution to deliver pristine live video over any network while maximizing the benefits of the latest 5G infrastructure. These products embody our commitment to innovation and excellence for live video contribution over any network.”

The key advantages of Haivision Falkon X2:
- Ultra-low latency live transmission: Send live video over cellular networks, including public and private 5G.
- Pristine quality video: Up to 4K/UHD resolutions and 4:2:2 10-bit color precision.
- Easy to use: Built-in touchscreen user interface and responsive, browser UI for computer or mobile device.
- Built for mobility: Lightweight design supporting HEVC and H.264 encoding. Portable and camera-mountable with internal battery.
- Advanced feature-rich, capabilities: Recording and file forwarding for when live streaming is not possible. Intercom, video returns, and data bridge to facilitate communications with field teams.
- Total production freedom: Remote cloud controls and built-in user-friendly interfaces.
Come see Haivision and Falkon X2 at the 2025 NAB Show and experience how you can take your live broadcasts to another level. See the Haivision website for more information or book a one-on-one meeting with a Haivision video expert at NAB here: haivision.com/events/nab-2025/.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video networking and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision-making. We provide high-quality, low-latency, secure, and reliable live video at a global scale. Haivision open-sourced its award-winning SRT low-latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys^® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. To learn more, visit Haivision at www.haivision.com .

Jennifer Gazin
514.334.5445 ext 8309
jgazin@haivision.com

The MIL Network –
March 28, 2025
MIL-OSI: GCM Grosvenor Hires Martin Laguerre as Co-Head of Global Diversified Private Equity

Source: GlobeNewswire (MIL-OSI)

CHICAGO, March 27, 2025 (GLOBE NEWSWIRE) — GCM Grosvenor, a global alternative asset management solutions provider, today announced the hiring of Martin Laguerre as Co-Head of Global Diversified Private Equity. Mr. Laguerre brings 25 years of investment experience spanning private equity, capital solutions, and infrastructure, with a strong track record of direct deal execution, portfolio management, and capital allocation across global markets. In his new role, he will serve as co-head alongside Bernard Yancovich, who also leads the firm’s diversified private equity practice.

Mr. Laguerre most recently served as a Senior Advisor at Warburg Pincus. Prior to Warburg Pincus, he was Global Head of Private Equity and Capital Solutions at Caisse de dépôt et placement du Québec (CDPQ), where he led a global team overseeing a C$55 billion portfolio of private markets investments.

Mr. Laguerre also held investment and leadership roles at CPP Investments and General Electric. He began his career in investment banking roles with DLJ/Credit Suisse and Lehman Brothers.

“We are thrilled to welcome Martin to the firm and our investments leadership team,” said Fred Pollock, Chief Investment Officer at GCM Grosvenor. “His deep global alternative investment expertise and understanding of institutional investor priorities will strengthen our private equity platform. Martin’s leadership will play a key role in enhancing our ability to deliver solutions for our clients.”

At GCM Grosvenor, Mr. Laguerre will focus on enhancing the firm’s three-decade legacy of private equity investing, leveraging the firm’s deep sourcing network. The firm currently has $30 billion of assets under management in private equity.

“I am eager to join GCM Grosvenor and collaborate with its talented investment team,” said Martin Laguerre. “The firm’s deep expertise in private markets and its commitment to delivering strong investment outcomes for clients make this an exciting opportunity. I look forward to contributing to its continued success.”

Mr. Laguerre holds a Bachelor of Commerce in Finance and Management Science from McGill University, the Chartered Financial Analyst© designation from the CFA Institute and an MBA in Finance and International Business from the Booth School of Business at the University of Chicago.

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.

Media Contact
Tom Johnson and Abigail Ruck
H/Advisors Abernathy
tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global
212-371-5999

The MIL Network –

March 28, 2025
MIL-OSI: Altus Group Releases Its 2025 Canadian Cost Guide

Source: GlobeNewswire (MIL-OSI)

TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), today released its 2025 Canadian Cost Guide, an annual assessment of real estate development and infrastructure construction hard costs across all asset classes in major Canadian cities.

For decades, industry professionals have relied on Altus Group’s Cost Guide to enhance the accuracy and predictability of construction cost estimates and evaluate project risks. Leveraging Altus’ insights from over 6,200 development projects spanning over 1.5 million square feet with a collective value exceeding C$521 billion, the Cost Guide covers hard costs of real estate development and infrastructure projects, delivering detailed insights by asset class, city, and on a per-square-foot or per-unit basis. Construction costs are influenced by both global and local economic conditions, market trends and advancements in building materials, practices and methods. The Cost Guide takes these factors into account to provide a resource for initial budgeting or as a benchmark for estimating costs across various regions and building types.

“The 2025 Canadian Cost Guide shows that cost increases have been leveling off over the past year and are now more in line with general inflation,” said Colin Doran, Head of Development Advisory, Americas at Altus Group. “The big question is whether that stability will hold. With shifting trade policies, upcoming building code changes, and labour negotiations on the horizon, developers are facing a new wave of complexity—and that’s on top of already high construction costs. Staying agile and tapping into real-time data will be key to navigating what’s ahead.”

“The threat of new tariffs could throw a wrench into the 2025 cost outlook,” added Peter Norman, Vice President and Economic Strategist at Altus Group. “Even if the immediate impact is muted, it’s still a wild card. It really depends on what goods are affected, how long tariffs stick around, and whether there’s any retaliation—all of which could drive costs even higher.”

A copy of Altus Group’s 2025 Canadian Cost Guide can be downloaded here. To read an article with commentary on the 2025 Cost Guide from our experts, click here.

The Cost Guide is for informational purposes only; readers are advised to consult with a qualified professional for advice on specific projects.

About Altus Group

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 1,900 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit altusgroup.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Elizabeth Lambe
Director, Global Communications, Altus Group
(416) 641-9787
elizabeth.lambe@altusgroup.com

The MIL Network –

March 28, 2025
MIL-OSI: CURRENC’s SEAMLESS AI Lab Unveils “AI Staff for Hire” Platform

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, March 27, 2025 (GLOBE NEWSWIRE) — CURRENC Group Inc. (Nasdaq: CURR) (“CURRENC” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced the launch of “AI Staff for Hire,” an AI solution developed by the Company’s SEAMLESS AI Lab, offering pre-built, AI-powered Agents tailored to specific business scenarios. With AI-driven automation poised to reshape industries globally, this innovative product positions CURRENC at the forefront of a rapidly expanding market for AI-powered workforce solutions.

Designed to meet the needs of enterprises across the finance industry, “AI Staff for Hire” automates critical functions such as customer support, debt collection, KYC, compliance, and HR management, empowering businesses to expand their operations without expanding their workforce. Platform users can select from a range of specialized AI Agents for specific tasks, including Internal Trainers, General Managers, KYC Officers, and Customer-Facing Sales Representatives. This flexibility, combined with cost-effective pricing models, allows businesses to scale operations, streamline workflows, and enhance service quality, while also benefiting from 24/7, multi-lingual support to improve global competitiveness.

Equipped with advanced material digestion, system integration, and key information extraction functionalities, “AI Staff for Hire” Agents provide real-time insights into customer interactions, boosting engagement and enabling more effective lead generation and marketing strategies. They can also improve data accuracy, generate detailed reports, and monitor for critical issues, offering businesses proactive relationship management tools. Internally, CURRENC’s AI Agents can be customized to train staff in customer service, operations, compliance, finance, and IT, and deliver comprehensive reporting, performance scoring and improvement suggestions.

“‘AI Staff for Hire’ represents a major step forward in CURRENC’s mission to transform global financial services with AI,” said Alex Kong, Founder and Executive Chairman of CURRENC. “Our innovative, cost-effective AI Agents integrate seamlessly into business environments worldwide, enabling enterprises of all sizes and budgets to quickly and efficiently scale their operations while adapting to the demands of the digital economy. Building on the success of our SEAMLESS AI Call Centre Solutions, “AI Staff for Hire” will expand the boundaries of AI application across banking, insurance, human resources, and other sectors. As the market for AI-powered solutions grows, CURRENC remains committed to propelling AI development that will redefine the future of the global financial industry.”

“AI Staff for Hire” is a key element in CURRENC’s comprehensive AI offering. Other key functions of our AI offering include app development, AI call centre capabilities, AI HR modules, and trading platforms specifically designed for smaller or newly established financial institutions such as eWallets, and banks. With CURRENC’s AI-powered tools, these organizations, often operating in regions with limited technological support, can rapidly launch sophisticated financial services without incurring heavy capex. As its AI offerings gain traction, CURRENC anticipates onboarding new clients in markets such as Oman, Pakistan, Egypt, Indonesia, India, and South America, bridging the digital divide and empowering local fintech ecosystems. Moreover, as CURRENC recruits new clients, there is a great opportunity for cross selling CURRENC’s digital remittance services and global airtime transfer services to the new clients, which could generate significant business synergy between the AI offerings and CURRENC’s existing businesses.

The future of work is rapidly shifting toward AI Agents and digital clones. McKinsey analysts predict that AI-driven staff could handle up to 70% of white-collar tasks by 2030. Entrepreneurs and small enterprises may evolve into “One-Person Unicorn Companies,” leveraging AI staff to manage entire operations. As the AI-powered agents market is estimated to exceed $4.71 billion in value by 2030, according to MarketsandMarkets, businesses adopting AI workforce solutions today will gain critical competitive advantages.

About CURRENC Group Inc.
CURRENC Group Inc. (Nasdaq: CURR) is a fintech pioneer dedicated to transforming global financial services through artificial intelligence (AI). The Company empowers financial institutions worldwide with comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered Agents designed to reduce costs, increase efficiency and boost customer satisfaction for banks, insurance, telecommunications companies, government agencies and other financial institutions. The Company’s digital remittance platform also enables e-wallets, remittance companies, and corporations to provide real-time, 24/7 global payment services, advancing financial access across underserved communities.

Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor & Media Contact
CURRENC Group Investor Relations
Email: investors@currencgroup.com

The MIL Network –

March 28, 2025
MIL-OSI: Global Radiotherapy Market Expected to Reach $9.62 Billion By 2030 Realizing Growth Due to Technological Advancements

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., March 27, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Industry experts see the global radiotherapy market continuing to grow in the years to come. A recent report from MarketsAndMarkets said that the global radiotherapy market, which was valued at US$6.23 billion in 2022, grew at a robust CAGR of 4.9%, and reached US$7.21 billion in 2024 and is expected to reach an impressive US$9.62 billion by 2030. It said: “During the forecast years, the growth of the market is attributed to the focus on advancements in radiotherapy treatment technology growing patient population, increasing initiatives to promote radiotherapy awareness. Increasing use of particle therapy for cancer treatment among market players are also expected to support the growth of this market during the forecast period.” The report continued: “Technological advancements in radiotherapy methods, increasing cases of cancers, and the growing demand for radiotherapy services are areas of opportunity in this market. Market growth in North America is attributed to the favorable reimbursement scenario and the presence of key market players in the region. Emerging markets such as China, India are offering high growth opportunities for players operating in this market. Radiotherapy is a complex process that involves understanding the principles of medical physics, dosimetry, radiotherapy planning radiobiology, delivery and interaction of radiation therapy with other treatment modalities and the radiation safety.” Active biotech and pharma companies in the markets this week include Actinium Pharmaceuticals, Inc. (NYSE AMERICAN: ATNM), Bristol Myers Squibb (NYSE: BMY), Eli Lilly and Company’s (NYSE: LLY), Novartis AG (NYSE: NVS), AstraZeneca PLC (NASDAQ: AZN).

MarketsAndMarkets continued: “The development of advanced radiotherapy technologies has, in turn, resulted in an increased complexity of operations. Also, a high level of accuracy is needed at every step of the process to achieve maximum tumor control with minimal risk to normal tissue. The ecosystem market map of the overall radiotherapy market comprises the elements present in this market and defines these elements with a demonstration of the bodies involved. Ecosystem analysis elucidates the interdependencies among various components in the radiotherapy market. At the forefront, product, technology, and the application of radiotherapy analyzers serve as the cornerstones, facilitating consumables used in analysis.”

Actinium Pharmaceuticals, Inc. (NYSE AMERICAN: ATNM) Announces Supply Agreement with Eckert & Ziegler for Ac-225 Radioisotope to Support Comprehensive Development Activities – Actinium Pharmaceuticals, Inc. (Actinium or the Company), a pioneer in the development of targeted radiotherapies, recently announced it has entered into an agreement for the supply of Actinium-225 (Ac-225) with Eckert & Ziegler. Under this agreement, Actinium Pharmaceuticals will have access to Eckert & Ziegler’s high-quality Actinium-225 to further develop its lead product Actimab-A as well as additional early and late-stage development candidates for both U.S. and international clinical trials.

Targeted radiotherapies using Ac-225 have shown great promise in the treatment of cancer. The radioisotope releases powerful alpha particles with high energy and low penetration depth, enabling precise targeting of tumor cells, including hard-to-reach micrometastases, while minimizing effects on surrounding healthy tissue. Actimab-A is an Ac-225 based radiotherapy agent, directed against CD33, a receptor overexpressed in patients with acute myeloid leukemia (AML) and other myeloid indications.

Sandesh Seth, Chairman and CEO at Actium Pharmaceuticals, Inc. commented: “We believe that targeted radiation therapy with Actinium-225 is one of the most promising approaches for treating patients with myeloid malignancies and solid tumors. As we have highlighted recently, we are advancing our lead targeted radiotherapy Actimab-A into a pivotal Phase 2/3 trial for patients with relapsed or refractory acute myeloid leukemia and in the frontline setting in a Phase 1 trial under our CRADA with the NCI. Additionally, we have launched our Actimab-A solid tumor program to combine with PD-1 checkpoint inhibitors KEYTRUDA and OPDIVO for patients with head and neck squamous carcinoma and non-small cell lung cancer in multiple trials. As a pioneer in the development of target radiotherapies, we have aggressive plans to expand our clinical pipeline to address indications with high unmet needs. With this supply agreement with Eckert & Ziegler, we will have access to reliable and constant supply of Ac-225 to advance our product development both in the U.S. as well as internationally.”

“We are happy to contribute to the continuous expansion of indications for Actinium-225, which is significantly being advanced by Actinium Pharmaceuticals,” explained Dr. Harald Hasselmann, CEO of Eckert & Ziegler SE. “The progress we have made in our Ac-225 project over the past year marks only the start of our program to address the global shortage of this vital radionuclide.”

Eckert & Ziegler reliably supplies high-quality Gallium-68, Lutetium-177, Yttrium-90, and Actinium-225 to leading pharmaceutical companies, and research institutions worldwide. With expertise in radioisotope production and global logistics, the company is committed to continuously support the development and delivery of innovative radiopharmaceuticals. CONTINUED… Read this full press release and more news for Actinium Pharmaceuticals at: https://ir.actiniumpharma.com/press-releases

Other recent developments in the biotech industry of note include:

Bristol Myers Squibb (NYSE: BMY) recently announced that the European Commission (EC) has granted approval to Breyanzi^® (lisocabtagene maraleucel; liso-cel), a CD19-directed chimeric antigen receptor (CAR) T cell therapy, for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL) after two or more lines of systemic therapy.

“This additional approval for Breyanzi in FL represents a critical step forward in our mission to deliver on the transformational promise of cell therapy for more patients across Europe,” said Emma Charles, senior vice president, Europe Region, Bristol Myers Squibb. “While significant advancements have been made in the last two decades, there still remains unmet need for patients. Newer treatments for FL, like Breyanzi, have shown impactful results in clinical trials, with the opportunity to deliver lasting results in the routine care setting.”

New results show Eli Lilly and Company’s (NYSE: LLY) EBGLYSS achieved deep and sustained response for patients with moderate-to-severe atopic dermatitis (eczema) at three years. These findings from the ADjoin long-term extension study will be presented at the American Academy of Dermatology (AAD) Annual Meeting, taking place March 7-11 in Orlando.

EBGLYSS is an interleukin-13 (IL-13) inhibitor that selectively blocks IL-13 signaling with high binding affinity. The cytokine IL-13 is a primary cytokine in atopic dermatitis, driving the type-2 inflammatory cycle in the skin, leading to skin barrier dysfunction, itch, skin thickening and infection.

Novartis AG (NYSE: NVS) recently announced that oral Fabhalta^® (iptacopan) has received U.S. Food and Drug Administration (FDA) approval for the treatment of adults with C3 glomerulopathy (C3G), to reduce proteinuria, making it the first and only treatment approved for this condition.

“C3G is a debilitating disease often affecting young people, impacting many aspects of their physical and emotional health, and our previous treatment options came with significant challenges,” said Carla Nester, M.D., M.S.A., F.A.S.N., Professor of Pediatrics-Nephrology at the University of Iowa and Fabhalta APPEAR-C3G Study Co-Investigator. “This approval of Fabhalta is historic for the entire C3G community as now, for the first time, we have a therapy that is believed to treat the underlying cause of the disease, providing the potential for a new standard of care for patients.”

AstraZeneca PLC (NASDAQ: AZN) – New study results presented at the European Lung Cancer Congress (ELCC) 2025, March 26 to 29, demonstrate the role of AstraZeneca’s TAGRISSO^® (osimertinib), as monotherapy and as the backbone for novel combinations, across stages and settings of epidermal growth factor receptor-mutated (EGFRm) non-small cell lung cancer (NSCLC). Highlights include:

Myung-Ju Ahn, MD, PhD, Professor of Hemato-Oncology at the Department of Medicine, Samsung Medical Center, Sungkyunkwan University School of Medicine, Seoul, South Korea, said: “A critical goal in treating every patient with lung cancer is to not only extend a patient’s life but also maintain quality of life while on treatment. The continued overall survival trend seen here at ELCC in the unresectable Stage III setting and the promising data for combinations that can address progression in the advanced setting, together reinforce osimertinib as an effective, safe and convenient treatment for patients with EGFR-mutated lung cancer across stages and lines of treatment.”

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The MIL Network –

March 28, 2025
MIL-OSI United Kingdom: Celebrate VE Day 80 in Plymouth
Source: City of Plymouth

Whether you host your own street party, or join us for the festivities on The Hoe, get ready for an unforgettable celebration, as Plymouth marks 80 years since the end of the Second World War in Europe.

Join us on Thursday 8 May, on Plymouth Hoe for a day packed with excitement, entertainment, and heartfelt remembrance. Funded by Plymouth City Council, with support from defence company Babcock International Group (Babcock), which owns and operates Devonport Royal Dockyard, VE Day 80 will start at 10.30am with a flag-raising ceremony and a full parade of Standards at the Belvedere, featuring the Royal Navy Guard and ships in the Sound.

The festivities will then continue throughout the day with live music on The Hoe, an evening concert, vibrant street party, stalls, and vintage vehicles. With the evening concluding with a Sunset Guard lighting the Plymouth beacon at 8.40pm.

Across the country, millions will be dancing, singing, and partying in the streets on Monday 5 May, to celebrate the end of the war. Plymouth City Council is making it easier for local people to join in by suspending road closure fees for street parties. This will hopefully encourage local people to come together with their neighbours to have their own community celebrations. The deadline to apply for a road closure is 11 April.

Councillor Sally Haydon, Cabinet Member with responsibility for Events, says: “This will be a fantastic community event to celebrate VE Day 80. It’s a chance for us all to give thanks and remember those who lost their lives during the war, and to reflect on the past.

“Plymouth City Council is proud to be organising a day of celebration on The Hoe. And, whilst residents and communities will need to buy their own Victoria sponges, we are happy to wave the cost of road closures, to enable communities to come together to organise their own celebrations.”

John Gane, Managing Director of Babcock’s Devonport facility said: “As part of Plymouth’s proud history and an important part of the fabric of the city today, we are pleased to be supporting such a significant event, which provides an excellent opportunity for the local community to come together and mark 80 years since Victory in Europe Day. Our Armed Forces play an essential role in the defence of our nation and we are proud to continue supporting them as we aim to create a safe and secure world, together.

At the event on The Hoe, The Box will also be bringing history to life with amazing archive film clips showing Plymouth during the war years. Watch these fascinating glimpses into the city’s past on the Big Screen, including the King’s secret visit in 1941 and the bomb damage from the Blitz.

Brigadier Mike Tanner OBE ADC – Devonport Naval Base Commander, says: “From a military perspective, I am always in awe of the enormous courage and sacrifice required to achieve that outcome of “Victory in Europe”. Both those fighting directly and those back here in Plymouth – who kept the Naval Base running, whilst their houses and city were bombed.

“Like every service person, I am always proud of my connection to Plymouth. But as I think of this 80th anniversary I am massively reminded that today we stand on the shoulders of the giants who led before us.”

And let’s not forget, the war in the Far East didn’t end until 15 August 1945, when Japan surrendered. On Friday 15 August, the Royal British Legion will lead the nation in honouring and remembering those who fought and died during the War in the Far East with a service marking 80 years since VJ Day (Victory over Japan) at the National Memorial Arboretum. Plymouth will also commemorate this anniversary with a special church service.

Dates for the diary

Thursday 5 May: Hold your own street party – with the cost of road closures suspended.  Apply here.

Thursday 8 May: Celebration on Plymouth Hoe
- 10.30am: flag raising, standards and ships in the Sound
- 11am: live music on The Hoe, street party, stalls, and vintage vehicles
- 5.30pm: evening concert
- 8.40pm: Sunset Guard lighting the Plymouth beacon
Friday 15 August: Special church service to commemorate VJ Day at St Andrews Church. Further details will follow nearer the time.

For more information about VE Day 80 in Plymouth, go to: VE Day 80 – Visit Plymouth
MIL OSI United Kingdom –
March 28, 2025

MIL-OSI Economics: Lending and Deposit Rates of Scheduled Commercial Banks – March 2025

Source: Reserve Bank of India

Data on lending and deposit rates of scheduled commercial banks (SCBs) (excluding regional rural banks and small finance banks) received during the month of March 2025 are set out in Tables 1 to 7.

Highlights:

Lending Rates:

The weighted average lending rate (WALR) on fresh rupee loans of SCBs stood at 9.40 per cent in February 2025 (9.32 per cent in January 2025).
The WALR on outstanding rupee loans of SCBs declined to 9.80 per cent in February 2025 from 9.87 per cent in January 2025.¹
1-Year median Marginal Cost of Funds based Lending Rate (MCLR) of SCBs declined to 9.00 per cent in March 2025 from 9.05 per cent in February 2025.
The share of External Benchmark based Lending Rate (EBLR) linked loans in total outstanding floating rate rupee loans of SCBs was 60.6 per cent at end-December 2024 (59.4 per cent at end-September 2024), while that of MCLR linked loans was 35.9 per cent (36.9 per cent at end-September 2024)¹.

Deposit Rates:

The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of SCBs stood at 6.48 per cent in February 2025 as compared to 6.56 per cent in January 2025.
The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term deposits of SCBs remained unchanged at 7.02 per cent in February 2025.¹

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/2477

MIL OSI Economics –

March 28, 2025

MIL-OSI Economics: RBI imposes monetary penalty on The Co-operative Urban Bank Ltd., Paralakhemundi, Odisha

Source: Reserve Bank of India

The Reserve Bank of India (RBI) has, by an order dated March 13, 2025, imposed a monetary penalty of ₹2.70 lakh (Rupees Two Lakh Seventy Thousand only) on The Co-operative Urban Bank Ltd., Paralakhemundi, Odisha (the bank) for non-compliance with the certain directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions- UCBs’ and ‘Membership of Credit Information Companies (CICs) by Co-operative Banks’.This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949 and Section 25 of the Credit Information Companies (Regulation) Act, 2005.

The statutory inspection of the bank was conducted by Reserve Bank of India with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty:

The bank had:

breached prudential inter-bank (gross) and counterparty exposure limits; and
failed to obtain membership of two CICs.

This action is based on deficiency in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/2478

MIL OSI Economics –

March 28, 2025

MIL-OSI Economics: RBI imposes monetary penalty on The Jalna People’s Cooperative Bank Ltd., Jalna, Maharashtra

Source: Reserve Bank of India

The Reserve Bank of India (RBl) has, by an order dated March 25, 2025, imposed a monetary penalty of ₹0.75 lakh (Rupees Seventy Five Thousand only) on The Jalna People’s Cooperative Bank Ltd., Jalna, Maharashtra (the bank) for non-compliance with the RBI Directions on ‘Gold Loan – Bullet Repayment – Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

The bank had sanctioned gold loans under bullet repayment scheme beyond the prescribed regulatory limit.

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/2479

MIL OSI Economics –

March 28, 2025

MIL-Evening Report: Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election

Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

Oops. Anthony Albanese’s own department pre-empted its boss on Thursday. Some unfortunate official, pressing the wrong button, posted on X that the government was in “caretaker” mode, although the prime minister had not yet called the election.

There was a grovelling apology from the department, saying it was trying to find out why the error occurred.

No matter. The department was only a day early. Albanese goes to government house on Friday for an election on May 3.

Indeed, most players and observers had expected, before cyclone Alfred, that the campaign, with its “caretaker” period, would be well under way by now.

Instead, we’ve had this budget week that’s seen an auction of handouts.

First, the budget announced the tax cuts, which are more than a year away, and will be delivered in two stages, They are, to use Treasurer Jim Chalmers’ description, “modest”.

Then came Peter Duttlon’s counter hit – a halving of the excise on petrol and diesel, briefed out ahead of his budget reply. The benefit would come more quickly – but would only last a year. This is a recycled, extended version of the Morrison government’s 2022 excise cut. Labor supported the 2022 move, but rejects Dutton’s proposal.

The budget we nearly didn’t have gave Chalmers the stage to strut his stuff. Budget weeks traditionally belong to treasurers who, among other things, do a walkabout through the ranks of the journalists who are “locked up” and ploughing through the embargoed budget documents. So some old hands were surprised when the PM appeared with a senior staffer to do his own walkabout. Precedents didn’t come to mind.

Labor sought to wedge the Coalition by pushing through legislation to enshrine the tax cuts. The Coalition voted against them in parliament, then declared if elected, it would repeal them. Dutton has confirmed he won’t be announcing any policy for tax cuts closer to the election.

For the Liberals, to be seen opposing an income tax cut is unusual and risky. It’s made for campaign slogans. “The only thing they don’t want to cut is people’s taxes,” Albanese declared. “Labor is the party of lower taxes.” Both sides will be watching their polling carefully in coming days to see whether this stand rebounds against the Liberals.

The opposition believes its excise reduction will hit the mark, especially in the seats it is most targeting – those in the outer suburbs where people drive a lot.

But Kos Samaras, from the Redbridge political consultancy, predicts people will see this “arms race” of hand outs as providing just band-aids, with the measures likely to cancel each other out.

Apart from the excise measure the other big initiative in Dutton’s reply was his plan for a gas reservation scheme.

This is designed to fill what has been an apparent big hole in the opposition’s energy policy. It has its ambitious (many would say unrealistic) nuclear plan for the long term. But if it is arguing it would be able to bring down energy bills any time soon, it needs a here-and-now policy to do so.

Its answer is to turn to gas. That requires ensuring a reliable and adequate supply for the local market, to drive down the price.

“Gas sold on the domestic market will be de-coupled from overseas markets to protect Australia from international price shocks,” Dutton said in his Thursday speech. “And this will drive down new wholesale domestic gas prices from over $14 per gigajoule to under 10 per gigajoule.”

Dutton told the ABC after his address that the price fall could be achieved by the end of this calendar year.

That estimate sounds like a hostage to fortune. Precision can be dangerous when it comes to energy promises. Who can forget that number Labor put out so confidently before the last election – a $275 fall in household power bills?

Critics will find all sorts of issues with Dutton’s east coast reservation scheme, including that it would be heavily interventionist and there’s no guarantee it would work. Labor says Dutton is reheating one of its old plans, and that the government has the gas situation under control anyway.

The opposition says its plan is in line with warnings on gas supply released by the Australian Competition and Consumer Commission on Thursday.

The potential effectiveness of Dutton’s gas plan will be highly contested. What is not in dispute is that the partisan divide over the energy transition will be one of the central issues of the campaign.

This week the prime minister has had a spring in his step. The polls have improved somewhat, and the “vibe” seems to be with him. Responding to a challenge from a couple of podcasters, he playfully put the phrase, “delulu with no solulu” into a speech to describe his opponents. Never mind that middle-aged politicians sound slightly absurd when they try to be hip. Albanese is a confidence player and at the moment his confidence is up.

The tactical games aren’t just around the tax cuts. Calling the election first thing Friday carpet bombs Dutton’s budget reply.

And once the election is called, parliament will be prorogued and that will scrap the Friday sitting of estimates committees, denying the opposition an opportunity to quiz officials about the budget and other matters. (On Thursday, the “caretaker” fiasco became public during an estimates hearing, surprising officials from the PM’s department who happened to be appearing at the time.)

For his part, Dutton understands the odds against him.

Political scientist Rodney Tiffen, in an analysis of federal campaigns from 1972 to 2022, found no example where an opposition had started the campaign roughly equal in the polls and won, and three where it had lost (1980, 1987, and 2004). “All winning oppositions started the campaign already ahead,” Tiffen writes in a chapter in The Art of Opposition.

In his budget reply, Dutton delivered one revealing line: “This election is as much about leadership as it’s about policy”.

Dutton casts himself as the leader who would make the tough decisions. “I will lead with conviction – not walk both sides of the street,” he said.

“I will be a strong leader and a steady hand – just as John Howard was.”

Dutton might see Howard as his role model, but it will be a big leap of faith for many voters to see the opposition as a contemporary Howard.

Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election – https://theconversation.com/grattan-on-friday-an-arms-race-of-promises-as-prime-minister-set-to-call-election-251257

MIL OSI Analysis – EveningReport.nz –

March 28, 2025

MIL-OSI: BIO-key Trims 2024 Net Loss 49% to $4.3M, Reflecting Higher Gross Margin and Lower Operating Costs, Offsetting 11% Revenue Decrease Due to Business Transition; Hosts Investor Call Today at 10am ET

Source: GlobeNewswire (MIL-OSI)

HOLMDEL, N.J., March 27, 2025 (GLOBE NEWSWIRE) — BIO-key^® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) solutions featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication, announced results for its fourth quarter (Q4’24) and year ended December 31, 2024 (2024). BIO-key’s 2023 results, which were restated and filed with the Company’s 2023 Form 10-K, are reflected in this release for comparison purposes. BIO-key will host an investor call today, Thursday, March 27th at 10:00am ET (details below).

BIO-key CEO, Mike DePasquale commented, “From a strategic standpoint, we substantially strengthened our business in 2024, growing our high-margin software license fee revenue by 20% while exiting our low margin services relationship with Swivel Secure to focus on BIO-key solutions such as PortalGuard IAM and our Identity-Bound Biometrics. This transition away from Swivel Secure licensed solutions resulted in an 11% decline in 2024 revenue, but enabled us to substantially improve overall profitability despite lower revenue.

“We also reduced operating expenses by 6% in 2024 and reduced cash used in operations by 23% to $2.91M in 2024 from $3.79M in 2023. With this transition behind us, we are in a much stronger position to grow and convert top-line revenue into bottom-line contribution.”

Recent Highlights

Mr. DePasquale, continued, “Moving forward, we are seeing very encouraging order demand for our solutions in national defense, financial services and education applications and particular strength in EMEA countries. We are seeing growing interest in our unique capabilities in passwordless, phoneless and tokenless authentication solutions which are best positioned to meet the most pressing security and usability challenges. Our biometric solutions are gaining solid traction in international markets across government, financial services and civil defense applications.

“For example, in Q4’24 we secured a $910K contract with a long-time financial services client to implement our biometric identification technology across its branches. The customer has already enrolled fingerprint biometrics for over 25M end-users and is now upgrading to BIO-key’s “fingerprint-only,” one-to-many identification system. Our solution is expected to trim approximately 30 seconds from each customer interaction, resulting in both an improved customer experience and substantial long-term savings.

“Our longstanding relationship with one of the world’s most esteemed defense ministries saw expanded deployment of our biometric solutions in 2024, a trend we expect to continue in 2025 and beyond. We currently provide authentication and digital security services for over 80,000 ministry personnel and believe that deployment could double or triple in coming years. To date, the ministry has generated $3.3M in total hardware and license revenue, and we are now working under a new long term procurement agreement initiated in Q3 2024.

“This past January, we forged a partnership with the National Bank of Egypt, which is integrating BIO-key’s PortalGuard IAM platform and an industry-leading Identity Governance solution. This project, led by our partner, Raya Information Technology, leverages PortalGuard’s advanced IAM, MFA, and SSO capabilities to secure the digital identities of the bank’s 30,000 employees, and we believe there is potential down the road for this solution to be utilized with its customers.

“BIO-key has also built an established and growing presence in education across over 100 institutions serving over 4M end users. In January, three additional colleges and universities migrated to PortalGuard IDaaS and the Wyoming Department of Education deployed PortalGuard IDaaS, adding a total of over 50,000 IDaaS end users. Building on this momentum, after an extensive RFP and review process, we executed a strategic partnership and Joint Purchase Agreement (JPA) with California’s Education Technology Joint Powers Authority (Ed Tech JPA). The agreement makes PortalGuard an approved IAM solution for the alliance’s 195 K-12 schools and districts, collectively serving over 2.6M students, uniquely positioning our offerings to comply solve Ed Tech JPA member IAM requirements, including compliance with emerging restrictions on the use of personal mobile devices in schools.

“In an effort to seed future market opportunities, in December we announced a strategic collaboration with Fiber Food Systems to explore IAM use cases across the food industry. As part of this agreement, we also acquired shares of Boumarang, Inc. from Fiber in exchange for BIO-key stock. Boumarang is a pioneering force in sustainable, AI-driven, hydrogen-powered, long-range drone technology, a developing market with a clear need for a state-of-the-art IAM solutions. The equity exchange strengthened our balance sheet and paved the way to a strategic collaboration with Guinn Partners to integrate our biometric technology with Guinn’s expertise in IoT and autonomous systems, targeting applications across aerospace, defense, healthcare, logistics and smart cities. These initiatives will take time to develop, but we believe that each of them has the potential to create attractive new commercial opportunities for BIO-key.

“We are off to a strong start in 2025 and believe we are well positioned to deliver improved top- and bottom-line performance. However, given the timing of large customer orders, our financial performance has the potential to fluctuate significantly on a quarter-to-quarter basis. Given increasing interest in our biometric solutions, growing adoption of passwordless, phoneless and tokenless IAM solutions, and the transition we executed in 2024 to a focus on higher-margin BIO-key solutions, we are very optimistic regarding our prospects this year. We remain focused on reducing costs to lower our breakeven level as we continue to explore new markets and strategic partnerships that could advance our path to sustained profitability and positive operating cash flow.”

Financial Results
Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change.

2024 revenues decreased approximately 11% to $6.9M from $7.8M in 2023, largely due to BIO-key’s exit from a Swivel Secure Limited (SSL) distribution agreement and transition to selling BIO-key branded solutions in the EMEA region. The impact of this strategic decision contributed to more high-margin software license fee revenue and a reduction in services revenue from third-party products which carry a much lower gross margin. As a result, 2024 license fee revenue increased 20% to $5.2M in 2024 vs. $4.3M in 2023; service fees declined 50% to $1.1M in 2024 from $2.2 million in 2023; and hardware revenue declined 47% to $0.6M in 2024 from $1.2M in 2023.

In Q4’24 license fee revenue increased 77% to $1.0M; services revenue decreased 28% to $0.3M and hardware revenue declined 88% to $0.1M, also reflecting the impacts of the strategic transition from SSL products and services toward BIO-key solutions.

Gross profit grew to $5.6M in 2024 from $1.4M in 2023, due to a $3.6M hardware reserve taken in 2023 and the impact of growth in higher-margin license sales and a reduction in lower-margin services and hardware revenue. Exiting the SSL agreement contributed to lower costs to support deployments, including software license fees included in sales of Swivel Secure offerings vs. BIO-key’s internally developed software solutions. This resulted in gross profit increasing to $1.2M in Q4’24 vs. negative $95,496 in Q4’23, which included a $1.1M hardware reserve. Both Q4’24 and 2024 gross profit benefited from the sale of $213,005 of fully reserved hardware inventory.

BIO-key reduced its operating expenses by $606,409 to $9.7M in 2024 from $10.3M in 2023, due to a reduction of SG&A costs by $722,563, partially offset by a $116,154 increase in research, development and engineering expense to support new product development. Proactive cost reductions included lower headquarters expenses, sales personnel costs, and marketing show expenses, partially offset by an increase in professional services, principally related to financing activities. BIO-key’s Q4’24 operating expenses were flat year-over-year at $2.6M.

Reflecting greater gross profit and lower operating expenses, BIO-key’s 2024 net loss improved to $4.3M, or ($2.10) per share, from a net loss of $8.7M, or ($15.21) per share, in 2023. Similarly, BIO-key’s Q4’24 net loss improved to $1.6M, or ($0.53) per share, vs. $2.4M, or ($3.99) per share, in Q4’23. 2023 Results included hardware reserves of $3.6M and $1.086M in 2023 and Q4’23, respectively. 2024 results included a positive hardware reserve adjustment of $213,005 in Q4 for the sale of hardware that was previously reserved.

Balance Sheet
As of December 31, 2024, BIO-key had $1.9M of current assets, including $438,000 of cash and cash equivalents, $0.8M of net accounts receivable and due from factor, and $378,000 of inventory. This compares to current assets of $2.6M at December 31, 2023, including approximately $511,000 of cash and cash equivalents, $1.3M of net accounts receivable and due from factor, and $446,000 of inventory.

Conference Call Details

Date / Time:	Thursday, March 27th at 10 a.m. ET
Call Dial In #:	1-877-418-5460 U.S. or 1-412-717-9594 Int’l
Live Webcast / Replay:	Webcast & Replay Link – Available for 3 months.
Audio Replay:	1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 6114035

About BIO-key International, Inc. (www.BIO-key.com)

BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital to satisfy working capital needs; our ability to continue as a going concern; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to convert sales opportunities to customer contracts; our ability to expand into Asia and other foreign markets; our ability to migrate Swivel Secure customers to BIO-key and Portal Guard offerings; fluctuations in foreign currency exchange rates; delays in the development of products, the commercial, reputational and regulatory risks to our business that may arise as a consequence of the restatement of our financial statements, including any consequences of non-compliance with Securities and Exchange Commission and Nasdaq periodic reporting requirements; our temporary loss of the use of a Registration Statement on Form S-3 to register securities in the future;, any disruption to our business that may occur on a longer-term basis should we be unable to continue to maintain effective internal controls over financial reporting, and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.

Engage with BIO-key

Investor Contacts

William Jones, David Collins
Catalyst IR
BKYI@catalyst-ir.com or 212-924-9800


BIO-key International, Inc. and Subsidiaries CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2024			2023			2024			2023
Revenues
Services	$	344,444		$	478,005		$	1,108,506		$	2,218,885
License fees		1,023,701			577,669			5,189,370			4,342,010
Hardware		94,133			769,427			631,695			1,194,010
Total revenues		1,462,278			1,825,101			6,929,571			7,754,905
Costs and other expenses
Cost of services		73,317			221,940			396,274			861,936
Cost of license fees		146,122			152,000			589,505			1,174,919
Cost of hardware		255,927			460,157			516,611			700,231
Cost of hardware – reserve		(213,005	)		1,086,500			(213,005	)		3,586,500
Total costs and other expenses		262,361			1,920,597			1,289,385			6,323,586
Gross profit		1,199,917			(95,496	)		5,640,186			1,431,319

Operating Expenses
Selling, general and administrative		1,815,155			2,040,438			7,140,147			7,862,710
Research, development and engineering		812,072			587,900			2,511,080			2,394,926
Total Operating Expenses		2,627,227			2,628,338			9,651,227			10,257,636
Operating loss		(1,427,310	)		(2,723,834	)		(4,011,041	)		(8,826,317	)
Other income (expense)
Interest income		57			5,589			110			11,533
Gain from sale of asset					20,000						20,000
Loss on foreign currency transactions		(13,004	)		(24,000	)		(13,004	)		(39,000	)
Loan fee amortization		(60,000	)		–			(124,000	)		–
Change in fair value of convertible note		–			131,497			–			396,203
Interest expense		(66,932	)		(58,890	)		(175,755	)		(218,270	)
Total other income (expense), net		(139,879	)		74,196			(312,649	)		170,466

Loss before provision for income tax		(1,567,189	)		(2,649,638	)		(4,323,690	)		(8,655,851	)

Provision for (income tax) tax benefit		–			276,825			–			134,014

Net loss	$	(1,567,189	)	$	(2,372,813	)	$	(4,323,690	)	$	(8,521,837	)

Comprehensive loss:
Net loss	$	(1,567,189	)	$	(2,372,813	)	$	(4,323,690	)	$	(8,521,837	)
Other comprehensive income (loss) – Foreign currency translation adjustment		(25,409	)		138,029			26,469			265,423
Comprehensive loss	$	(1,592,598	)	$	(2,234,784	)	$	(4,297,221	)	$	(8,256,414	)

Basic and Diluted Loss per Common Share*	$	(0.53	)	$	(3.99	)	$	(2.10	)	$	(15.21	)

Weighted Average Common Shares Outstanding*
Basic and diluted		3,032,240			560,278			2,059,884			560,278

*Periods reflect impact of BIO-key’s 1-for-18 reverse stock split effective December 21, 2023.

Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change.


BIO-key International, Inc. and Subsidiaries CONSOLIDATED BALANCE SHEETS

	December 31,
	2024			2023
ASSETS
Cash and cash equivalents	$	437,604		$	511,400
Accounts receivable, net		718,229			1,201,526
Due from factor		74,170			99,320
Inventory, net of reserve		378,307			445,740
Prepaid expenses and other		278,648			364,171
Total current assets		1,886,958			2,622,157
Equipment and leasehold improvements, net		140,198			220,177
Capitalized contract costs, net		409,426			229,806
Deposits and other assets		7,976			–
Operating lease right-of-use assets		73,372			36,905
Other assets		5,000,000			–
Intangible assets, net		1,097,630			1,407,990
Total non-current assets		6,728,602			1,894,878
TOTAL ASSETS	$	8,615,560		$	4,517,035

LIABILITIES
Accounts payable	$	818,187		$	1,316,014
Accrued liabilities		1,278,732			1,305,848
Note payable		1,525,977			–
Government loan – BBVA Bank, current portion		132,731			138,730
Deferred revenue – current		773,267			414,968
Operating lease liabilities, current portion		24,642			37,829
Total current liabilities		4,553,536			3,213,389
Deferred revenue, net of current portion		196,237			28,296
Deferred tax liability		22,998			22,998
Government loan – BBVA Bank, net of current portion		44,762			188,787
Operating lease liabilities, net of current portion		48,994			–
Total non-current liabilities		312,991			240,081
TOTAL LIABILITIES		4,866,527			3,453,470

Commitments

STOCKHOLDERS’ EQUITY
Common stock — authorized, 170,000,000 shares; issued and outstanding; 3,715,483 and 1,032,777 of $.0001 par value at December 31, 2024 and December 31, 2023, respectively		372			103
Additional paid-in capital		133,030,271			126,047,851
Accumulated other comprehensive loss		49,290			22,821
Accumulated deficit		(129,330,900	)		(125,007,210	)
TOTAL STOCKHOLDERS’ EQUITY		3,749,033			1,063,565
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	8,615,560		$	4,517,035

All BIO-key shares issued and outstanding for all periods reflect BIO-key’s 1-for-18 reverse stock split, which was effective December 21, 2023.

Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change.


BIO-key International, Inc. and Subsidiaries CONSOLIDATED STATEMENTS OF CASH FLOWS

	Years ended December 31,
	2024			2023

CASH FLOW FROM OPERATING ACTIVITIES:
Net loss	$	(4,323,690	)	$	(8,521,837	)
Adjustments to reconcile net loss to cash used for operating activities:
Depreciation		93,026			75,136
Amortization of intangible assets and write-off		304,983			354,558
Interest payable on Note		164,589			–
Loss on foreign currency		13,004			39,000
Reserve for inventory		(213,005	)		3,586,500
Allowance for doubtful account		(372,532	)		750,000
Amortization of debt discount		124,000			–
Amortization of capitalized contract costs		175,900			171,291
Share based and warrant compensation for employees and consultants		225,245			226,725
Stock based fees to directors		18,006			39,007
Bad debt expense		100,000			100,000
Change in fair value of convertible note		–			(396,203	)
Deferred income tax benefit		–			(134,014	)
Amortization of operating lease right-of-use assets		79,521			–
Change in operating assets and liabilities:
Accounts receivable		855,829			(428,742	)
Due from factor		25,150			(49,820	)
Capitalized contract costs		(355,520	)		(118,028	)
Deposits		(7,976	)		–
Right of use asset		(115,988	)		160,449
Inventory		280,438			402,129
Prepaid expenses and other		85,523			(21,465	)
Accounts payable		(502,987	)		57,725
Income tax payable		–			(121,764	)
Accrued liabilities		(27,116	)		275,561
Deferred revenue		526,240			(71,288	)
Operating lease liabilities		(66,712	)		(168,376	)
Net cash used for operating activities		(2,914,072	)		(3,793,456	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		(13,047	)		(1,000	)
Net cash used for investing activities		(13,047	)		(1,000	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from public offerings					4,296,260
Repayment of convertible notes					(2,200,000	)
Proceeds from the exercise of warrants		1,908,099			320
Costs incurred for issuance of common stock		(172,350	)		(561,367	)
Proceeds from issuance of note payable		2,000,000			–
Repayment of note payable		(762,611	)		–
Repayment of government loan		(150,024	)		(119,251	)
Proceeds from Employee Stock Purchase Plan		3,740			17,478
Net cash (used in) provided by financing activities		2,826,854			1,433,440
Effect of exchange rate changes		26,469			236,894
NET DECREASE IN CASH AND CASH EQUIVALENTS		(73,796	)		(2,124,122	)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR		511,400			2,635,522
CASH AND CASH EQUIVALENTS, END OF YEAR	$	437,604		$	511,400

All BIO-key shares issued and outstanding for all periods reflect BIO-key’s 1-for-18 reverse stock split, which was effective December 21, 2023.

Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change.

The MIL Network –

March 28, 2025

MIL-OSI: TransUnion Study Finds U.S. Data Breach Severity Reaches New High

Source: GlobeNewswire (MIL-OSI)

CHICAGO, March 27, 2025 (GLOBE NEWSWIRE) — Despite the volume of U.S. data breaches declining in 2024 from highs reached a year prior, data breach severity reached levels never seen since TransUnion’s measurement began in 2020. These findings were revealed as part of the newly-released TransUnion® (NYSE: TRU) H1 2025 Update to the State of Omnichannel Fraud Report.

In 2024, the number of primary data breaches dipped to 2,577 from 2,842 the year prior, while third-party data breaches fell precipitously to 515 from 2,731 in 2023. However, the severity of those data breaches increased by 34% from one year earlier, with the primary US Breach Risk Score (BRS)¹ rising from 4.1 to 5.6 and third party rising from 4.2 to 5.2. Breach Risk Score is measured on a 1–10 scale, where 1 represents the least severe and 10 most.

A primary data breach represents a direct attack on an organization. A third-party data breach, also known as a supply-chain attack, value-chain attack, or backdoor breach, is when an attacker accesses an entity’s network via third-party vendors or suppliers — payroll processing or medical billing, for instance.

The study found that the 2024 U.S. data breaches targeted more high-quality credentials, and consumers reported being targeted by data harvesting scams in every channel, including email, text, phone and online. Exposed identity data enables cybercriminals to power automated, identity-based attacks on organizations and individuals more readily.

“The reversal of the multi-year U.S. data breach growth is certainly a step in the right direction. However, the significant jump in data breach severity is a cause for concern,” said Steve Yin, global head of fraud at TransUnion. “Breach severity is a leading indicator of future fraud. This year’s growth in severity means organizations must be even more diligent moving forward and work even harder to defend against the oncoming identity fraud attacks such as those in account creations, social engineering scams, and account takeovers.”

_______________
¹ The BRS is based on the quantity and severity of the particular identity credentials the affected entity determined to have been exposed.

While U.S. Data Breach Volume Ticked Down in 2024, Data Breach Severity Reached Record Levels

	2020	2021	2022	2023	2024
Volume
Primary data Breaches	1,248	1,841	1,834	2,842	2,577
Third-party data breaches	689	567	1,757	2,731	515
Average Breach Risk Score
Primary data Breaches	3.9	4.0	4.0	4.1	5.6
Third-party data breaches	2.8	3.1	3.4	4.2	5.2
Source: TransUnion TruEmpower™

These data breaches played a key role in significant financial losses faced by consumers due to fraud. Among consumers TransUnion surveyed in 18 countries and regions in November and December 2024, 29% said they lost money due to online, email, phone or text message fraud in the last year. The newly-released TransUnion (NYSE: TRU) H1 2025 Update to the State of Omnichannel Fraud Report found that the median amount those consumers said they lost due to fraud in the past year was $1,747.

Communities and Video Gaming Among Top Industries Targeted by Suspected Digital Fraud Globally
Communities, which include venues such as online dating and forums, had the highest rate of suspected digital fraud² attempts globally in 2024. Nearly 12% of all attempted communities transactions were suspected to be digital fraud last year. This is closely followed by video gaming (11%), with gaming (including online betting, poker, etc.) at 8% and retail (8%) rounding out the top four.

The logistics industry, which has seen growth in shipping fraud (often perpetrated by organized crime rings), saw the greatest suspected digital fraud volume growth globally in 2024, up more than 100% over 2023. That being said, the fraud rate remains at a relatively modest 3%. Gaming also saw a significant year-over-year (YoY) volume change, up 20%. Telecommunications (-79%), insurance (-29%) and video gaming (-23%) saw the greatest decreases in suspected digital fraud volume YoY.

“Digital fraud on community platforms is by no means a new phenomenon. However, in 2024, it appears that fraudsters targeted these areas with a renewed vigor,” said Richard Tsai, senior director of global fraud solutions at TransUnion. “Cybercriminals, taking advantage of the trust inherent on community-based platforms, targeted members with a wide range of scammer solicitations, the most reported type of digital fraud in communities.”

For transactions where the consumer or fraudster was located in the U.S., gaming continues to see the highest suspected digital fraud rate. About 14% of attempted transactions were suspected to be digital fraud, roughly the same as 2023. This marks the fifth consecutive year since TransUnion began research on this metric five years ago, where 13% or more of attempted gaming transactions in the U.S. were suspected to be digital fraud.

_______________
² The rate or percentage of suspected digital fraud attempts reflects those which TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) fraudulent upon customer investigation, or 4) a corporate policy violation upon customer investigation — compared to all transactions assessed. The country and regional analyses examined transactions in which the consumer or suspected fraudster was located in a select country or region when conducting a transaction. Global statistics represents every country worldwide and not just the select countries and regions.

Communities Saw the Highest Suspected Digital Fraud Rates in 2024 Globally, While Logistics Saw the Greatest Volume Increase

Industry	Suspected digital fraud attempt rate 2024	Change in volume of suspected digital fraud attempts from 2023 to 2024
Communities (online dating, forums, etc.)	11.6%	+9%
Video gaming	10.8%	-23%
Gaming (online sports betting, poker, etc.)	7.8%	+20%
Retail	7.6%	-45%
Financial services	4.9%	+3%
Telecommunications	3.0%	-79%
Logistics	2.6%	+101%
Insurance	2.0%	-29%
Government	1.7%	+6%
Travel & leisure	0.9%	-38%
Source: TransUnion TruValidate™

As part of the same aforementioned consumer survey, 11% of U.S. respondents indicated that they were targeted by online, email, phone call or text messaging fraud from August to December 2024 and fell victim to it. Four in 10 respondents (41%) indicated that they were aware of being targeted, but did not fall victim. Among those able to identify being targeted, the most commonly reported fraud scheme in the U.S. was smishing. Smishing is a type of phishing that uses text messages to mislead people into giving away personal information. The term combines “SMS” and “phishing”.

“While cybercriminals will attack at any time using any channel, they appear to focus on channels most popular in the regions they are targeting,” said Yin. “Text messaging remains incredibly popular in the U.S. and, among many demographic groups, is a far more ubiquitous way to communicate with mobile devices than phone calls. As such, it would stand to reason that smishing would be such a common fraud tactic among fraudsters targeting this region.”

In contrast, nearly half of respondents (48%) indicated that they were not targeted by these types of fraud at all. This raises questions as to whether these respondents were in fact targeted, yet simply unaware.

India and South Africa Saw the Greatest Percentage of Respondents Falling Victim to Digital Fraud in H2 2024

Country	Targeted and fell victim	Targeted but didn’t fall victim	Not targeted	Most reported fraud scheme
India	13%	41%	46%	Identity theft
South Africa	13%	55%	31%	Phishing
Dominican Republic	12%	24%	64%	Vishing
Kenya	11%	71%	19%	Smishing
Mexico	11%	31%	58%	Stolen credit card
Namibia	11%	52%	37%	Vishing
Philippines	11%	63%	26%	Phishing
Puerto Rico	11%	25%	63%	Stolen credit card
United States	11%	41%	48%	Smishing
Brazil	10%	30%	60%	Vishing
Rwanda	10%	57%	33%	Money mule
Spain	10%	25%	65%	Phishing
Canada	9%	47%	44%	Phishing
Chile	9%	30%	61%	Vishing
Colombia	9%	33%	58%	Vishing
Zambia	9%	70%	21%	Smishing
Hong Kong	6%	45%	48%	Phishing
United Kingdom	6%	44%	50%	Phishing
Source: TransUnion consumer survey

TransUnion came to its conclusions about digital fraud and data breaches based on intelligence from TransUnion TruValidate and TruEmpower respectively.

Specific country and regional data in the report include the United States, Botswana, Brazil, Canada, Chile, Colombia, the Dominican Republic, Guatemala, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom and Zambia. Download the TransUnion H1 2025 Update to the State of Omnichannel Fraud Report for more information and insights about the global fraud trends.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

http://www.transunion.com/business

Contact		Dave Blumberg TransUnion

E-mail		david.blumberg@transunion.com

Telephone		312-972-6646

The MIL Network –

March 28, 2025

MIL-OSI: Element and Arval Celebrate 30 Year Alliance with Release of New Insights Focused on the Future of Fleet and Mobility
Source: GlobeNewswire (MIL-OSI)
- Fleet and mobility stakeholders continue their fleet electrification strategies, with 85 per cent of them now shifting their focus to charging solutions and strategies.
- 91 per cent of companies anticipate their fleet will either remain stable or grow in the next three years.
- Nearly half of the companies recognize that mobility policies and solutions are important levers for talent acquisition and employee retention.
TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Element Fleet Management Corp. (TSX:EFN) (“Element” or the “Company”), the largest publicly traded, pure-play automotive fleet manager in the world, together with global alliance partner, Arval, a major player in vehicle leasing and specialist in mobility solutions, are marking the 30^th anniversary of the Element-Arval Global Alliance (“EAGA” or the “Alliance”) with new insights published in the 2025 Fleet and Mobility Barometer.

“Our global alliance uniquely offers our fleet and mobility customers the expertise and relationship management needed to deploy strategies across 55 different countries, ensuring solutions meet local needs and maintain very high quality standards,” says Bart Beckers, Chief Commercial Officer of Arval. “The Element-Arval Global Alliance purpose is to support and assist our international clients to successfully build and run their global fleet strategy.“

For 30 years the EAGA has been a global leader within fleet and mobility management. To expand its presence in additional geographies, notably in Asia, the Alliance welcomed Sumitomo Mitsui Auto Service (SMAS) in 2023 and now counts eight members. With presence in 55 countries and the Alliance Members managing 4.5 million vehicles, the Alliance delivers comprehensive expertise and resources to empower their international clients across the globe, helping them to manage their fleets at a strategic, tactical, and operational level.

“We greatly value the extensive relationship we’ve built with Arval and are proud that our global Alliance remains the longest standing across fleet and mobility,” says David Madrigal, Executive Vice President and Chief Commercial Officer. “The insights captured within the annual Fleet and Mobility Barometer we’ve produced together represent one of the many ways we leverage our partnership, shared expertise, and extensive global presence to deliver comprehensive, scalable, and tailored solutions to meet our clients’ needs across the globe.”

The Fleet and Mobility Barometer (the “Barometer”) is an industry-leading annual publication of the Arval Mobility Observatory and Element-Arval Global Alliance, offering a robust and detailed look into evolving industry trends, and providing country-specific insights, deep-dive policy considerations, as well as industry-leading benchmarking. This year’s report addresses three main areas of fleet and mobility transformation: environmental sustainability, cost efficiency, and employee satisfaction.

Key insights from the Barometer include:
1. Companies are overwhelmingly prioritizing environmental sustainability through fleet electrification, with 85 per cent of the companies interviewed having a charging policy or planning to have one in the future. The report also highlights the varying rates of electrification between passenger cars and Light Commercial Vehicles (LCVs), with Europe leading the trend.
2. Cost efficiency is being observed through innovative methods such as full-service leasing. Despite persistent economic and geopolitical challenges, 91 per cent of companies anticipate their fleet will either remain stable or grow in the next three years.
3. Employee satisfaction is now at the centre of mobility and fleet transformation, with 45 per cent of companies mentioning human resource needs as the main reason for developing employee mobility policies and solutions. The report emphasizes the key role of telematics and connected vehicle technologies for promoting responsible driving, improving driver behavior, and reducing accidents.
Initiated by the Arval Mobility Observatory nearly 20 years ago, Element joined the global Barometer in 2023 to expand benchmarking capabilities to include trends across the United States, Canada, Mexico, Australia, and New Zealand. This year’s benchmarking survey involves more than 8,000 interviews with corporate fleet decision-makers across 28 countries and provides a forward-looking perspective on the next three years.

To read more about the Element-Arval Global Alliance and the 2025 Fleet and Mobility Barometer, visit Global Fleet Management Solutions | Element-Arval Global Alliance – Element Arval.

About Element Fleet Management
Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world. As a Purpose-driven company, we provide a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for our clients across North America, Australia, and New Zealand. Our services address every aspect of our clients’ fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management, and remarketing, to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. At Element, we maximize our clients’ fleet so they can focus on growing their business. For more information, please visit: www.elementfleet.com

About Arval:
Arval is a major actor in full-service vehicle leasing and a specialist in mobility solutions founded in 1989. Arval is fully owned by BNP Paribas and positioned within the Group’s Commercial, Personal Banking & Services division. Arval was leasing nearly 1.8 million vehicles as of the end of 2024. Every day, nearly 8,600 Arval employees in 29 countries offer flexible solutions to make journeys seamless and sustainable for its customers, ranging from large international corporate groups to smaller companies and private customers.

Arval is a founding member of the Element-Arval Global Alliance. The fleets of all the Alliance members represent more than 4.5 million vehicles in 55 countries.

Arval has been rewarded with the highest level of the EcoVadis medal, the platinum level, placing its CSR strategy in the Top 1% of the companies assessed.
www.arval.com

About BNP Paribas:
Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
https://group.bnpparibas/en/

This press release contains certain forward-looking statements and forward-looking information regarding Element, its business and the fleet industry, which are based upon Element’s current expectations, estimates, projections, assumptions and beliefs. In some cases, words such as “plan”, “expect”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “could”, “predict”, “project”, “model”, “forecast”, “will”, “potential”, “target, “by”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements and forward-looking information. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements or information. Forward-looking statements and information in this news release may include, but are not limited to, statements with respect to, among other things, the Company’s expectations regarding new product offerings, including the benefits of the products, client demand and profitability, the Company’s ability to execute on its product plans, and the Company’s expectations regarding the risk and insurance industries. By their nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties that may be general or specific, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct. External factors outside of Element’s reasonable control may impact our ability to achieve our goals and expectations, including industry dynamics, legislation and regulatory actions, the failure of third parties to comply with their obligations to us and our affiliates or associates, client decisions and preferences. These and other factors may cause actual results to differ materially from the expectations expressed in the forward-looking statements and may require Element to adjust its initiatives and activities. The forward-looking statements in this news release speak only as of the date hereof and are presented for the purpose of assisting our stakeholders and others in understanding our objectives and strategic priorities and may not be appropriate for other purposes. We do not undertake to update any forward-looking statement except as required by law. In addition, a discussion of some of the material risks affecting Element and its business appears under the heading “Risk Management & Risk Factors” in Element’s Management Discussion and Analysis for the twelve-month period ended December 31, 2023 and the three and nine-month period ended September 30, 2024, and under the heading “Risk Factors” in Element’s Annual Information Form for the year ended December 31, 2023, as well as Element’s other filings with the Canadian securities regulatory authorities, which have been filed on SEDAR+ and can be accessed on Element’s profile on www.sedarplus.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fa484c54-9cb4-4c81-835c-d59ab8841d95

The MIL Network –
March 28, 2025
MIL-OSI: Primech Holdings Limited Provides Financial Updates and Corporate Highlights For the Six Months Ended September 30, 2024
Source: GlobeNewswire (MIL-OSI)

SINGAPORE, March 27, 2025 (GLOBE NEWSWIRE) — Primech Holdings Limited (the “Company”) (Nasdaq: PMEC), an established technology-driven facilities services provider in the public and private sectors operating mainly in Singapore, provides a financial and corporate update coincident with the filing of the Company’s financial results for the six months ended September 30, 2024.

Financial Highlights:
- Revenue was approximately $36.9 million for the six months ended September 30, 2024, representing a 5.1% increase from the same period in 2023;
- Gross Profit Margin increased from 16.4% for the six months ended September 30, 2023, to 22.5% for the six months ended September 30, 2024;
- Sales and marketing expenses increased from approximately $11,000 for the six months ended September 30, 2023 to approximately $1.4 million for the six months ended September 30, 2024.
- Loss from operations was approximately $0.9 million for the six months ended September 30, 2024, while profit from operations was approximately $0.3 million for the six months ended September 30, 2023.
- Net loss was approximately $1.3 million for the six months ended September 30, 2024, while net income was approximately $0.2 million for the six months ended September 30, 2023.
Operational and Corporate Highlights:
- Primech launched Primech AI as an operating subsidiary focused on creating robotic-based solutions to meet the growing demand for efficient and autonomous cleaning technology. With patents pending, Primech AI is developing HYTRON, a fully autonomous AI-powered toilet cleaning robot featuring 3D-cleaning and electrolyzed water for enhanced efficiency. Primech AI showcased its HYTRON robot at the 2024 CleanEnviro Summit Singapore (CESG) in June, generating significant industry interest.
- Primech’s subsidiary, Primech A & P Pte. Ltd., was nominated as a finalist for The Singapore Apex Corporate Sustainability Awards in the “LowCarbonSG” category. This recognition acknowledges the Company’s achievement of at least 5% improvement in Scope 1 and 2 carbon emissions over 24 months through strategic initiatives.
Management Commentary:

Kin Wai Ho, CEO of Primech Holdings Limited, commented, “While our financial results for this period reflect the significant investments we are making in technology and market development, we believe these strategic initiatives position us for substantial long-term growth and enhanced shareholder value. The increased marketing expenses reflect our commitment to expanding our market presence and promoting our innovative solutions, particularly our AI-powered cleaning technologies.”

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.

About Primech AI
Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

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.

Company Contact:
Email: ir@primech.com.sg

Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

The MIL Network –
March 28, 2025
MIL-OSI Economics: Media release: Coalition misfires in east coast gas market fix – Australian Energy Producers

Source: Australian Petroleum Production & Exploration Association

Headline: Media release: Coalition misfires in east coast gas market fix – Australian Energy Producers

The Coalition’s plan to force an oversupply of gas into the east coast market in an attempt to artificially reduce prices is yet another damaging market intervention that will drive away investment and exacerbate the supply challenges in the longer term.

Australian Energy Producers Chief Executive Samantha McCulloch said industry agreed that addressing projected gas supply shortfalls on the east coast of Australia and ensuring reliable and affordable gas for Australian households and businesses was a national priority.

“Industry welcomes the Coalition’s commitment to fast-track new gas supply and streamline approvals, but the benefits of these reforms risk being undermined by deliberately oversupplying the market,” Ms McCulloch said.

“AEMO’s latest Gas Statement of Opportunities highlights that the east coast market will face gas supply shortfalls from 2028. There is an urgent need to develop new supply, particularly in the southern states, but the projected shortfalls are a fraction of what the Coalition is aiming to force into the market.”

“This glut of gas will deter investment in new supply and undermine our trading relationships.”

Ms McCulloch said the plan also ignored the reality that the pipelines from Queensland to Victoria already operate at capacity during peak periods, and even if it could be physically moved south there is currently nowhere to store it.

“Industry stands willing to engage constructively with government on considered policies that deliver more gas for Australians and attract continued investment in new gas projects to ensure Australians have reliable and affordable gas to 2050 and beyond,” she said.

“We urge all parties to work with industry on sustainable solutions that provide certainty and stability for investment in the new gas exploration and development that is needed for Australia’s long-term energy security.”

Ms McCulloch said industry was not looking for handouts but needed policy certainty and a return to normal market conditions to support continued investment in gas supply.

“Australia needs long-term solutions that do not further distort the gas market,” she said.

Media Contact: 0434 631 511

MIL OSI Economics –

March 28, 2025
MIL-Evening Report: Researcher warns over West Papuan deforestation impact on traditional noken weaving

Asia Pacific Report

A West Papuan doctoral candidate has warned that indigenous noken-weaving practices back in her homeland are under threat with the world’s biggest deforestation project.

About 60 people turned up for the opening of her “Noken/Men: String Bags of the Muyu Tribe of Southern West Papua” exhibition by Veronika T Kanem at Auckland University today and were treated to traditional songs and dances by a group of West Papuan students from Auckland and Hamilton.

The three-month exhibition focuses on the noken — known as “men” — of the Muyu tribe from southern West Papua and their weaving cultural practices.

It is based on Kanem’s research, which explores the socio-cultural significance of the noken/men among the Muyu people, her father’s tribe.

“Indigenous communities in southern Papua are facing the world’s biggest deforestation project underway in West Papua as Indonesia looks to establish 2 million hectares of sugarcane and palm oil plantations in the Papua region,” she said.

West Papua has the third-largest intact rainforest on earth and indigenous communities are being forced off their land by this project and by military.

The ancient traditions of noken-weaving are under threat.

Natural fibres, tree bark
Noken — called bilum in neighbouring Papua New Guinea — are finely woven or knotted string bags made from various natural fibres of plants and tree bark.

“Noken contains social and cultural significance for West Papuans because this string bag is often used in cultural ceremonies, bride wealth payments, child initiation into adulthood, and gifts,” Kanem said.

West Papua student dancers performed traditional songs and dances at the noken exhibition. Image: APR

“This string bag has different names depending on the region, language and dialect of local tribes. For the Muyu — my father’s tribe — in Southern West Papua, they call it ‘men’.

In West Papua, noken symbolises a woman’s womb or a source of life because this string bag is often used to load tubers, garden harvests, piglets, and babies.

Noken string bag as a fashion item. Image: APR

“My research examines the Muyu people’s connection to their land, forest, and noken weaving,” said Kanem.

“Muyu women harvest the genemo (Gnetum gnemon) tree’s inner fibres to make noken, and gift-giving noken is a way to establish and maintain relationships from the Muyu to their family members, relatives and outsiders.

“Drawing on the Melanesian and Indigenous research approaches, this research formed noken weaving as a methodology, a research method, and a metaphor based on the Muyu tribe’s knowledge and ways of doing things.”

Hosting pride
Welcoming the guests, Associate Professor Gordon Nanau, head of Pacific Studies, congratulated Kanem on the exhibition and said the university was proud to be hosting such excellent Melanesian research.

Part of the scores of noken on display at the exhibition. Image: APR

Professor Yvonne Underhill-Sem, Kanem’s primary supervisor, was also among the many speakers, including Kolokesa Māhina-Tuai of Lagi Maama, and Daren Kamali of Creative New

The exhibition provides insights into the refined artistry, craft and making of noken/men string bags, personal stories, and their functions.

An 11 minute documentary on the weaving process and examples of noken from Waropko, Upkim, Merauke, Asmat, Wamena, Nabire and Paniai was also screened, and a booklet is expected to be launched soon.

The crowd at the noken exhibition at Auckland University today. Image: APR

MIL OSI Analysis – EveningReport.nz –

March 28, 2025
MIL-OSI China: Chinese vice premier meets guests from Bangladesh, Russia

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

BOAO, Hainan, March 27 — Chinese Vice Premier Ding Xuexiang on Thursday met separately with Bangladeshi interim government’s Chief Adviser Muhammad Yunus and Russian Deputy Prime Minister Alexey Overchuk, who are in Boao, south China’s Hainan Province, for the Boao Forum for Asia Annual Conference 2025.

During his meeting with Yunus, Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said that China and Bangladesh are good neighbors, good friends and good partners, and the two countries are celebrating the 50th anniversary of the establishment of their diplomatic relations this year.

Ding said China is willing to work together with Bangladesh to implement the important consensus reached by the leaders of both countries, enhance political mutual trust, strengthen practical cooperation, and foster closer cultural and people-to-people exchanges to deepen and consolidate the China-Bangladesh comprehensive strategic cooperative partnership.

Yunus said that Bangladesh firmly adheres to the one-China principle and is willing to take the 50th anniversary of diplomatic ties as an opportunity to continuously strengthen bilateral relations with China and deepen cooperation in various fields within the framework of the Belt and Road Initiative.

When meeting with Overchuk, Ding said that since the beginning of this year, the two heads of state have had two rounds of communication, setting the direction for the development of China-Russia relations.

Ding noted that both sides should follow the strategic guidance of head-of-state diplomacy, continuously deepen strategic coordination and practical cooperation, and provide strong certainty to global peace and stability.

Overchuk said that Russia is willing to work together with China to implement the important consensus reached by the two heads of state and push the Russia-China comprehensive strategic partnership of coordination for a new era to new heights.

MIL OSI China News –

March 28, 2025

MIL-OSI Banking: RBI imposes monetary penalty on NKGSB Co-operative Bank Limited, Mumbai

Source: Reserve Bank of India

The Reserve Bank of India (RBI) has, by an order dated March 25, 2025, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on NKGSB Co-operative Bank Limited, Mumbai (the bank), for non-compliance with certain directions issued by RBI on ‘Management of Advances – UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

The bank had sanctioned/granted certain loans for purchase of gold.

(Puneet Pancholy)
Chief General Manager

Press Release: 2024-2025/2476

MIL OSI Global Banks –

March 28, 2025

MIL-Evening Report: Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election on Friday

Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

Oops. Anthony Albanese’s own department pre-empted its boss on Thursday. Some unfortunate official, pressing the wrong button, posted on X that the government was in “caretaker” mode, although the prime minister had not yet called the election.

There was a grovelling apology from the department, saying it was trying to find out why the error occurred.

No matter. The department was only a day early. Albanese goes to government house on Friday for an election on May 3.

Indeed, most players and observers had expected, before cyclone Alfred, that the campaign, with its “caretaker” period, would be well under way by now.

Instead, we’ve had this budget week that’s seen an auction of handouts.

First, the budget announced the tax cuts, which are more than a year away, and will be delivered in two stages, They are, to use Treasurer Jim Chalmers’ description, “modest”.

Then came Peter Duttlon’s counter hit – a halving of the excise on petrol and diesel, briefed out ahead of his budget reply. The benefit would come more quickly – but would only last a year. This is a recycled, extended version of the Morrison government’s 2022 excise cut. Labor supported the 2022 move, but rejects Dutton’s proposal.

The budget we nearly didn’t have gave Chalmers the stage to strut his stuff. Budget weeks traditionally belong to treasurers who, among other things, do a walkabout through the ranks of the journalists who are “locked up” and ploughing through the embargoed budget documents. So some old hands were surprised when the PM appeared with a senior staffer to do his own walkabout. Precedents didn’t come to mind.

Labor sought to wedge the Coalition by pushing through legislation to enshrine the tax cuts. The Coalition voted against them in parliament, then declared if elected, it would repeal them. Dutton has confirmed he won’t be announcing any policy for tax cuts closer to the election.

For the Liberals, to be seen opposing an income tax cut is unusual and risky. It’s made for campaign slogans. “The only thing they don’t want to cut is people’s taxes,” Albanese declared. “Labor is the party of lower taxes.” Both sides will be watching their polling carefully in coming days to see whether this stand rebounds against the Liberals.

The opposition believes its excise reduction will hit the mark, especially in the seats it is most targeting – those in the outer suburbs where people drive a lot.

But Kos Samaras, from the Redbridge political consultancy, predicts people will see this “arms race” of hand outs as providing just band-aids, with the measures likely to cancel each other out.

Apart from the excise measure the other big initiative in Dutton’s reply was his plan for a gas reservation scheme.

This is designed to fill what has been an apparent big hole in the opposition’s energy policy. It has its ambitious (many would say unrealistic) nuclear plan for the long term. But if it is arguing it would be able to bring down energy bills any time soon, it needs a here-and-now policy to do so.

Its answer is to turn to gas. That requires ensuring a reliable and adequate supply for the local market, to drive down the price.

“Gas sold on the domestic market will be de-coupled from overseas markets to protect Australia from international price shocks,” Dutton said in his Thursday speech. “And this will drive down new wholesale domestic gas prices from over $14 per gigajoule to under 10 per gigajoule.”

Dutton told the ABC after his address that the price fall could be achieved by the end of this calendar year.

That estimate sounds like a hostage to fortune. Precision can be dangerous when it comes to energy promises. Who can forget that number Labor put out so confidently before the last election – a $275 fall in household power bills?

Critics will find all sorts of issues with Dutton’s east coast reservation scheme, including that it would be heavily interventionist and there’s no guarantee it would work. Labor says Dutton is reheating one of its old plans, and that the government has the gas situation under control anyway.

The opposition says its plan is in line with warnings on gas supply released by the Australian Competition and Consumer Commission on Thursday.

The potential effectiveness of Dutton’s gas plan will be highly contested. What is not in dispute is that the partisan divide over the energy transition will be one of the central issues of the campaign.

This week the prime minister has had a spring in his step. The polls have improved somewhat, and the “vibe” seems to be with him. Responding to a challenge from a couple of podcasters, he playfully put the phrase, “delulu with no solulu” into a speech to describe his opponents. Never mind that middle-aged politicians sound slightly absurd when they try to be hip. Albanese is a confidence player and at the moment his confidence is up.

The tactical games aren’t just around the tax cuts. Calling the election first thing Friday carpet bombs Dutton’s budget reply.

And once the election is called, parliament will be prorogued and that will scrap the Friday sitting of estimates committees, denying the opposition an opportunity to quiz officials about the budget and other matters. (On Thursday, the “caretaker” fiasco became public during an estimates hearing, surprising officials from the PM’s department who happening to be appearing at the time.)

For his part, Dutton understands the odds against him.

Political scientist Rodney Tiffen, in an analysis of federal campaigns from 1972 to 2022, found no example where an opposition had started the campaign roughly equal in the polls and won, and three where it had lost (1980, 1987, and 2004). “All winning oppositions started the campaign already ahead,” Tiffen writes in a chapter in The Art of Opposition.

In his budget reply, Dutton delivered one revealing line: “This election is as much about leadership as it’s about policy”.

Dutton casts himself as the leader who would take the tough decisions. “I will lead with conviction – not walk both sides of the street,” he said.

“I will be a strong leader and a steady hand – just as John Howard was.”

Dutton might see Howard as his role model, but it will be a big leap of faith for many voters to see the opposition as a contemporary Howard.

Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election on Friday – https://theconversation.com/grattan-on-friday-an-arms-race-of-promises-as-prime-minister-set-to-call-election-on-friday-251257

MIL OSI Analysis – EveningReport.nz –

March 28, 2025
MIL-OSI United Kingdom: Imported dengue cases reach record high
Source: United Kingdom – Executive Government & Departments

News story

Imported dengue cases reach record high

In 2024, 904 dengue cases were reported in returning travellers across England, Wales and Northern Ireland, up from 631 in 2023.
New data from UK Health Security Agency show imported dengue cases in England, Wales and Northern Ireland (EWNI) have reached their highest level since dengue surveillance began in 2009. All cases are linked to travel abroad.

In 2024, 904 dengue cases were reported in returning travellers across EWNI, up from 631 in 2023. Most cases were linked to travel to Southern and South-Eastern Asia. UKHSA is developing enhanced surveillance of dengue cases to better understand where people are acquiring infections and what mosquito bite precautions they were using, in order to help inform public health interventions in future.

Dengue cases have been increasing globally since 2010 with historic highs reported in 2019. In 2023, The World Health Organization (WHO) reported a post-pandemic global increase in both dengue cases and deaths, including in regions previously considered dengue-free, with significant increases particularly noted in Asia and the Americas. A range of factors, including climate change, changing distributions of the mosquito vector, and periodic weather events leading to rising temperatures, heavy rainfall and humidity are driving this increase globally.

The Joint Committee on Vaccination and Immunisation (JCVI) has recently recommended dengue vaccination for some travellers.

Imported cases of Chikungunya, another mosquito-borne infection, have also risen in EWNI. In 2024, 112 cases were reported, more than double the 45 cases in 2023, with most linked to travel in Southern Asia. These changing patterns may reflect several factors including differences in testing practices, disease burden, global epidemiology, clinician awareness and travel trends.

Zika virus disease cases increased to 16 in England, Wales and Northern Ireland during 2024, compared to 8 cases in 2023, with most travellers returning from South-Eastern Asia. Although Zika virus cases are rarely reported and don’t often cause serious illness, the infection poses a significant risk to pregnant women, as it can be passed to the foetus. There is no drug or vaccine to prevent Zika virus infection, and the most effective way of preventing infection is minimising mosquito bites.

Mosquito-borne infections like dengue, chikungunya and Zika can cause symptoms including fever, severe headache, pain behind the eyes, muscle and joint pain, abdominal pain, loss of appetite, nausea and vomiting. These are not always present, and some people will experience no symptoms.

Dr Philip Veal, Consultant in Public Health at the UK Health Security Agency, said:

It is essential to take precautions against mosquito-borne infections such as dengue while travelling abroad. Simple steps, such as using insect repellent, covering exposed skin, and sleeping under insecticide-treated bed nets, can effectively reduce the risk of mosquito-borne infections. Before you travel, check the TravelHealthPro website for the latest health advice on your destination, including any recommended vaccinations. Even if you’ve been to a country before, remember that you don’t have the same level of protection against infections as permanent residents and are still at risk.

The Travel Health Pro website, supported by the UK Health Security Agency, has information on health risks in countries across the world and is a one-stop-shop for information to help people plan their trip abroad. Ideally travellers should consult their GP, practice nurse, pharmacist, or travel clinic 4 to 6 weeks before their trip for individual advice, travel vaccines and malaria prevention tablets, if relevant for their destination.

In countries with insects that spread diseases like dengue, malaria or Zika, travellers can protect themselves by using insect repellent, covering exposed skin, and sleeping under a treated bed net where air conditioning is not available.

It is also important for travellers to:

ensure your routine childhood vaccines are up to date

have any recommended travel related vaccines

Follow the ABCD of malaria prevention- ‘Awareness of risk, Bite prevention, Chemoprophylaxis and Diagnose promptly and treat without delay’

Carry sufficient medications to cover the whole trip

get valid travel insurance to cover your entire trip and planned activities

As well as mosquito borne infections, UKHSA is reminding travellers that there is an ongoing outbreak of mpox in some countries in Africa. Currently, the risk to most travellers is low and vaccination against mpox infection is not recommended for the majority of people.

Those travelling to areas affected by the ongoing outbreak should take sensible precautions to protect themselves from the risk of infection by reducing touch or sexual contact, especially with individuals with a rash.

You can see a list of countries where cases of mpox clade I have been reported on the Travel Health Pro website. We recommend that anyone planning to travel to affected countries check the latest guidance.

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Published 27 March 2025
MIL OSI United Kingdom –
March 28, 2025

Category: Asia Pacific

Generosity and Buddhist laity

Meditation retreats

Ordination of men and women

Making an AI app work offline

Tech in flight

Better quality reports

Imported dengue cases reach record high

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