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Category: Asia

  • MIL-OSI Economics: RBI imposes monetary penalty on Shree Warana Sahakari Bank Limited, Warananagar, Maharashtra

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated May 05, 2025, imposed a monetary penalty of ₹2.00 lakh (Rupees Two Lakh only) on Shree Warana Sahakari Bank Limited, Warananagar, Maharashtra (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.

    The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of contravention of statutory provisions 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 statutory provisions. After considering the bank’s reply to the notice, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

    The bank had failed to transfer eligible unclaimed amounts to the Depositor Education and Awareness Fund within the prescribed time.

    This action is based on deficiencies in statutory 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 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: 2025-2026/284

    MIL OSI Economics –

    May 9, 2025

  • MIL-OSI: Stack Capital Group Inc. Reports Q1-2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 08, 2025 (GLOBE NEWSWIRE) — Stack Capital Group Inc., (“Stack Capital” or the “Company”) (TSX:STCK; TSX:STCK.WT.A) today announced its financial results for the quarter ended March 31, 2025. Stack Capital reports all amounts in Canadian Dollars unless otherwise stated.

    Company Commentary:

    • As at March 31, 2025, Book Value per Share (BVpS) of the Company was $12.06, compared with $12.29 as at December 31, 2024.
    • Stack Capital had its first portfolio investment, CoreWeave (an AI hyper-scaler) go public on March 28, 2025, an exciting milestone for both the Company and CoreWeave. During the quarter, and prior to the IPO, Stack invested an additional US$2.2 million into CoreWeave.
    • As of March 31, 2025, the Company wrote down its investment in CoreWeave by US$2.4 million to reflect its closing price of US$37.08. Since then, however, CoreWeave’s share price has increased to US$53.60 (as of close on May 7, 2025), representing a 45% gain from March 31, 2025, equating to an estimated $0.45 increase to Stack Capital’s BVpS since quarter end. The Company believes that CoreWeave’s share price has the potential to increase over the next several months as it reports its initial quarterly results, announces potential new business deals, and general market sentiment improves with anticipated resolutions to global trade/tariffs and other geo-political issues.
    • During Q1, Shield AI raised US$240 million at a US$5.3 billion valuation, resulting in an increase to the position value within the portfolio. Shield AI also recently announced significant strategic partnerships with both Boeing (March 2025) and Airbus U.S. Space & Defense (April 2025). Shield AI’s Hivemind solution will be used to improve and expand unmanned capabilities across the aerial programs at both companies, serving to further validate Shield AI’s leadership position in AI pilot technology.
    • Following quarter-end, SpaceX received approval from the Federal Aviation Administration (FAA) to increase the number of its Starship launches to 25 times per year, up from 5 times per annum under its previous license. This increase in launch cadence for future Starship test flights is significant and will eventually benefit Starlink (SpaceX’ satellite communications business) through the faster deployment of its next generation satellites, once Starship becomes fully operational.
    • In March, Locus Robotics unveiled its brand new ‘Array’ autonomous mobile robot at LogiMat in Stuttgart, Germany, and at ProMat in Chicago. As the industry’s most advanced AI-powered, zero-touch fulfillment system, Array eliminates 90% of manual labour for picking, putaway, and returns of merchandise within warehouse and third-party logistics facilities. Leveraging the latest advances in AI vision technology, Array delivers ultra-efficient order picking, unmatched cost per pick, along with the unique ability to pick and consolidate multiple orders simultaneously.
    • Following quarter-end, Omio, a leading multi-modal travel booking platform, announced its expansion into Southeast Asia, unlocking over 14,000 bus routes from over 1,800 transportation providers across Singapore, Vietnam, Thailand, Malaysia, Indonesia, and Cambodia, adding to its existing flight options in the region. Omio also plans to add ferry and rail services over the coming months and is aiming to be a comprehensive multi-modal travel provider by Q4-2025, in time for peak season of Southeast Asian travel. Following the announcement, the Omio app now unifies transportation across 3 continents and 45 countries.
    • As at March 31, 2025, the Book Value of the Company was $129.7 million, and the Book Value per Share was $12.06. A detailed summary of Book Value per Share is as follows:
    Breakdown of Book Value per Share as at March 31, 2025:  
    SpaceXi(space exploration & satellite communications) $ 2.18  
    Locus Robotics, Inc. (autonomous robots)   1.32  
    Canva, Inc. (graphic design)   1.29  
    Omio, Inc.ii(travel & leisure)   1.11  
    Hopper, Inc. (travel & leisure)   1.07  
    Newfront Insurance, Inc. (insurance & benefits)   1.07  
    Prove Identity, Inc.iii(cyber-security)   1.02  
    CoreWeave, Inc. (AI hyper-scaler)   1.01  
    Bolt Financial, Inc. (e-commerce)   0.50  
    Shield AI, Inc.iv(military defence)   0.39  
    Varo Money, Inc. (neo-banking)   0.13  
    Cash   1.00  
    Net other assets   (0.03 )
    Book Value per Share $ 12.06  

    i the Company is invested in Space Exploration Technologies Corp. (“SpaceX”) through a Special Purpose Vehicle, Space LP.
    ii the Company invested in shares of GoEuro Corp. which carries on business as Omio.
    iii the fair value of Prove Identity Inc. includes an unrealized deferred gain of $1,021,025
    iv the Company is invested in Shield AI through a Special Purpose Vehicle, Defence AI LP

    About Stack Capital

    Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to a diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares & Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. acts as the Company’s administrator and is responsible to source and advise with respect to all investments for the Company.

    For more information, please visit our website at www.stackcapitalgroup.com or contact:
    Brian Viveiros
    VP, Corporate Development, and Investor Relations
    647.280.3307
    brian@stackcapitalgroup.com

    Non-IFRS Financial Measures

    This press release may make reference to the following financial measures which are not recognized under International Financial Reporting Standards (“IFRS”), and which do not have a standard meaning prescribed by IFRS:

    • Book Value – the aggregate fair value of the assets of the Company on the referenced date, less the aggregate carrying value of the liabilities, excluding any deferred taxes or unrealized deferred gains or losses if applicable, of the Company; and
    • Book Value per Share (BVpS) – the Book Value on the referenced day divided by the aggregate number of Common Shares that are outstanding on such day.

    The Company’s Book Value and Book Value per Share is a measure of the performance of the Company as a whole. The Company’s method of determining this financial measure may differ from other issuers’ methods and, accordingly, this amount may not be comparable to measures used by other issuers. This financial measure is not a performance measure as defined under IFRS and should not be considered either in isolation of, or as a substitute for, net earnings per share prepared in accordance with IFRS.

    Cautionary Note Regarding Forward-Looking Information

    This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as “proposed”, “expects”, “intends”, “may”, “will”, and similar expressions. Forward-looking information contained or referred to in this press release includes but may not be limited to the business of Stack Capital and the risks associated therewith, including those identified in the Annual Information Filing under the heading “Risk Factors”.

    Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although Stack Capital believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Stack Capital can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the ability to capitalize on investment opportunities. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of Stack Capital based on information currently available to Stack Capital.

    Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Stack Capital disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events, or results or otherwise. The forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

    The MIL Network –

    May 9, 2025

  • MIL-OSI Economics: India and Japan drive revenue growth among top 20 APAC banks as Chinese giants slow down, reveals GlobalData

    Source: GlobalData

    India and Japan drive revenue growth among top 20 APAC banks as Chinese giants slow down, reveals GlobalData

    Posted in Business Fundamentals

    The top 20 Asia-Pacific (APAC) banks saw a modest 6.5% increase in combined revenue from $1.6 trillion in 2023 to $1.75 trillion in 2024, driven by exceptional growth from Indian and Japanese banks. On the other hand, several Chinese banks faced stagnation or declines amid tighter regulations and slowing credit demand. This shift highlights evolving regional dynamics and signals changing leadership in APAC’s banking landscape, reveals GlobalData, a leading data and analytics company.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “APAC banking landscape witnessed a striking shift in momentum in 2024, as Indian and Japanese banks delivered powerful revenue growth, some of the China’s traditionally dominant institutions recorded either marginal gains or outright declines. It also reveals not just a reshuffling of leaders, but also deeper structural signals driven by macroeconomic realignments, domestic policy shifts, and evolving capital flows.”

    Only three banks achieved revenue growth exceeding 40% in 2024: India’s HDFC Bank led with an impressive 89.5% year-on-year (YoY) increase, while Japan’s Sumitomo Mitsui Financial and Mizuho Financial followed with growth rates of 42.8% and 41.6%, respectively

    Grandhi explains: “HDFC Bank’s rise can be attributed to its merger with HDFC Ltd., robust retail lending growth, and digital banking expansion. Likewise, State Bank of India recorded a 19.4% jump to $72 billion, fueled by rising credit demand in infrastructure, manufacturing, and rural segments.

    “Japanese banks staged a strong comeback after years of modest performance. This surge is underpinned by enhanced cross-border M&A advisory, corporate lending in Southeast Asia, and increased activity in the green finance space.”

    Japan-based Mitsubishi UFJ Financial posted an 11.7% increase to $81.7 billion, reflecting stronger domestic lending and strategic international acquisitions.

    Chinese banks continued to dominate the revenue leaderboard, securing 11 of the top 20 positions. ICBC led with $227.9 billion in revenue, though it posted a slight YoY contraction of -0.6%. Similarly, China Construction Bank ($198.1 billion, -2%), Postal Savings Bank of China ($81.7 billion, -0.7%), and Shanghai Pudong Development Bank ($49.2 billion, -4.4%) reflected a slowdown. The declines stem from reduced credit demand, property sector headwinds, and the cautious lending stance amid tighter regulatory controls.

    Nevertheless, Bank of China showed resilience with a 2.6% increase in revenue to $177.6 billion, supported by strong offshore financing operations and currency settlements, benefiting from the yuan’s expanding role in trade settlements.

    Grandhi concludes: “As the global financial system braces for a volatile 2025, APAC banks are navigating a complex matrix of geopolitical tensions, tariff escalations, and tightening liquidity. The US-China trade recalibration, semiconductor export restrictions, and ongoing regional disputes could dampen cross-border capital flows and increase regulatory compliance costs.

    “However, banks with strong domestic franchises, digital agility, and diversified international exposure, especially in India, Japan, and Australia, are better positioned to weather uncertainty and tap into structural growth trends, including fintech adoption, infrastructure financing, and ESG-related lending. The year ahead will test these institutions not just on balance sheet strength but on their ability to adapt strategically in an evolving global order.”

    MIL OSI Economics –

    May 9, 2025

  • MIL-OSI Asia-Pac: HKEX chairman reappointed

    Source: Hong Kong Information Services

    The Chief Executive has approved the reappointment of Carlson Tong as Chairman of the Hong Kong Exchanges & Clearing Limited (HKEX) with immediate effect.

    Mr Tong was re-elected HKEX Chairman by the directors at the board meeting on April 30. The Chief Executive granted approval under the Securities & Futures Ordinance.

    Financial Secretary Paul Chan said under the leadership of Mr Tong, HKEX took forward various reforms, including enhancing the listing vetting process, implementing the specialist technology listing channel, establishing the Technology Enterprises Channel, and launching the trading arrangement under severe weather.

    Mr Chan also expressed confidence that with Mr Tong’s leadership, HKEX will continuously strive to enhance the competitiveness of Hong Kong’s capital market and consolidate the city’s status as a global leading international financial centre.

    Mr Tong’s chairmanship will coincide with his term of appointment as an HKEX board member, due to conclude at the end of the 2027 HKEX annual general meeting.

    MIL OSI Asia Pacific News –

    May 9, 2025

  • MIL-OSI Asia-Pac: HK hosts 6G summit

    Source: Hong Kong Information Services

    The 6G Global Summit opened in Hong Kong today, marking the first time for the summit to be held in the Asia-Pacific region.

    The two-day summit is being hosted by the Communications Authority and has attracted hundreds of representatives of regulatory bodies, telecommunications operators and corporations from more than 80 countries to explore the potential of sixth-generation (6G) mobile communications technology in shaping the future.

    In his keynote speech, Secretary for Commerce & Economic Development Algernon Yau said that Hong Kong is uniquely positioned to play a leading role in 6G development, with the Government committed to fostering a conducive environment for technological advancement and preparing for the 6G era.

    He noted that major mobile network operators in the city have actively commenced testing and successfully validating the 5G-Advanced network in various applications such as large-scale drone shows, world class sports events and more.

    As regards the Government’s efforts in the relevant areas, Mr Yau said: “We are also proactively exploring further facilitation measures from a telecommunications perspective to support the development of a low-altitude economy.”

    He also pointed out that the Government is conducting a study to streamline relevant licensing procedures for Low Earth Orbit satellites.

    For his part, Director-General of Communications Chaucer Leung noted at the summit’s opening ceremony that Hong Kong is the first economy in the world to have auctioned a radio spectrum in the upper six gigahertz band.

    The spectrum is suitable for the provision of 5G services now and 6G services in the future, he said, adding that the first set of technical standards for 6G is expected to be finalised in 2029 so that a commercial service can be introduced in the following year.

    The summit features discussions on 6G developments, including standardisation, technological innovations, sustainability and potential applications as well as the strategic role of the Asia-Pacific region and the opportunities presented by a more connected and intelligent global network.

    First held in 2022, this is the summit’s fourth edition. The previous two editions were held in Bahrain in 2023 and the UK in 2024.

    MIL OSI Asia Pacific News –

    May 9, 2025

  • MIL-OSI Russia: China, Cambodia to hold joint military exercises

    Translation. Region: Russian Federal

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

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

    BEIJING, May 8 (Xinhua) — The armed forces of China and Cambodia will hold joint exercises in Cambodia in the second and third ten days of May this year, Chinese Defense Ministry spokesman Zhang Xiaogang said Thursday.

    The joint military exercises of the two countries, codenamed “Golden Dragon 2025,” will focus on practicing joint anti-terrorist operations, as well as operations to provide humanitarian aid and eliminate the consequences of natural disasters, Zhang Xiaogang said at a departmental press conference.

    According to him, the maneuvers will be conducted on land, at sea and in the air. In addition, cultural and sports exchange events, as well as “Open Days” on ships, etc. are also planned.

    This joint exercise will be the seventh of its kind between the Chinese and Cambodian armed forces.

    “The exercise will play a positive role in strengthening practical cooperation between the two sides and advancing the building of an all-weather China-Cambodia community with a shared future in the new era,” the Chinese defense ministry spokesman said. -0-

    MIL OSI Russia News –

    May 9, 2025

  • MIL-OSI Russia: /Economic Review/ New Professions Fuel China’s Booming Cultural and Tourism Sector

    Translation. Region: Russian Federal

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

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

    CHANGCHUN, May 8 (Xinhua) — As dawn broke over Mount Taishan in east China’s Shandong Province, 26-year-old Wang Yang packed his backpack with essentials such as a first aid kit, trekking poles and sugar candies to replenish his energy.

    He is preparing to lead a family of five on a six-hour climb to the summit, his seventh tour group over the five-day May Day weekend that ended Monday.

    Wang Yang is part of a growing trend of “climbing guides” – people who keep company as they explore China’s scenic beauty spots. The new profession, which attracts students, mountaineering enthusiasts and guesthouse owners, offers personalized services such as route planning, photography and even “encouraging verbal therapy” to hikers along the way.

    Charging service fees ranging from 400 to 1,500 yuan (US$55 to US$208) depending on the difficulty of the route, some such guides manage to earn up to 30,000 yuan a month.

    The emergence of the new profession reflects a broader boom in tourism. For example, in the first quarter of 2025, Taishan was visited 1.27 million times, up 12.6 percent year-on-year. In 2023 and 2024, the mountain was visited more than 8 million times annually.

    “The move towards personalized and specialized services also reflects a significant increase in consumer demand,” said Wang Yang, who, thanks to his newfound knowledge of emergency medical care, was able to help revive a tourist suffering from hypoglycemia.

    About 1,000 kilometers away in northeast China’s Jilin Province, 50-year-old Yu Wei sat in a ski resort cabin, studying a thick stack of work notes. A technician by training, he played a key role in developing China’s first national standards for “ski patrol rescuers,” a newly recognized national profession.

    When Yu Wei entered the industry in 1995, China’s ski resorts relied on equipment donated by foreign countries and had few active holidaymakers. But that all changed after Beijing won the 2022 Winter Olympics in 2015, and ski visits to the country’s ski slopes increased to 234 million in 2024-25.

    “Now that 70 percent of skiers are snowboarding and trying difficult tricks, rescue work requires new skills,” said Yu Wei, whose team has developed protocols such as the “18-minute golden patrol cycle” to meet the changing demands of the sport.

    The emergence of new roles in the tourism industry, from food reviewers to sports technicians, reflects broader changes in society. Song Zhiqiang, a popular content creator from Yanbian Korean Autonomous Region (Jilin Province, northeast China), has turned food vlogging into a powerful marketing tool, increasing local sales and consumption by more than 10 million yuan. Industry data shows that social media influencers like Song Zhiqiang will help the country’s entrepreneurs earn 133.3 billion yuan in 2024.

    Since 2019, China has officially recognized 93 new occupations, with the total number of “new economy” workers reaching 84 million people, accounting for 21 percent of the country’s total workforce.

    “These occupations are not just jobs; they are indicators of rising consumption levels,” said Zhou Guangxu, an associate professor at the Institute of Labor Affairs at Renmin University of China. -0-

    MIL OSI Russia News –

    May 9, 2025

  • MIL-OSI Russia: China Coast Guard dislodges Japanese vessel that illegally entered Chinese territorial waters near Diaoyu Island /detailed version-1/

    Translation. Region: Russian Federal

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

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

    BEIJING, May 8 (Xinhua) — The China Coast Guard (CCG) has dislodged a Japanese vessel that illegally entered China’s territorial waters near Diaoyu Island, CCG spokesman Liu Dejun said Thursday.

    According to him, the BOC ships took necessary control measures in accordance with the law, issued warnings and forced the Japanese vessel to leave China’s territorial waters after it illegally entered the aforementioned waters between May 7 and 8.

    Stressing that the Diaoyu Islands and their adjacent islands are China’s original territory, Liu Dejun called on the Japanese side to immediately stop all illegal activities in these waters.

    “The BOC will continue to regularly conduct law enforcement activities in China’s territorial waters near Diaoyu Island to protect the country’s territorial sovereignty and maritime rights and interests,” Liu Dejun added. -0-

    MIL OSI Russia News –

    May 9, 2025

  • MIL-OSI USA: Neag School Class of 2025 Student Profile: Nathan Kim

    Source: US State of Connecticut

    Editor’s Note: As Commencement approaches, we are featuring some of our Neag School Class of 2025 graduating students over the coming days.


    Major:     BS, Sport Management
    Hometown: North Wales, Pennsylvania

    Q: Why did you choose UConn?

    A: Even though UConn is out-of-state for me, I felt drawn to it because of the strength of the program and the unique opportunities it offered. After touring the campus, I just couldn’t say no. It had that true college-town feel, which was exactly what I wanted. Unlike city schools, where you’re walking alongside people from all walks of life, UConn felt like a tight-knit community. Everywhere I went, I’d run into students just like me, and that sense of connection was enough for me.

    Q: What’s your major or field of study, and what drew you to it?

    A: I’m a sport management major, and I’ve known I have wanted to be in this field since high school. UConn, having one of the top programs in the country, made the decision easy. To me, sports are more than just games; they’re a powerful, universal language. They give people a way to express themselves without saying a word. My goal has always been to help others and combining that with my love and passion for sports gave me the perfect path forward: using sports as a tool to make a positive impact in the world.

    Q: Did you have a favorite professor or class?

    A: Man… choosing just one professor feels impossible. I’ve been lucky to have some amazing mentors. But if I had to shout someone out, it’s Dr. Chen. He is my professor and my advisor, and he went above and beyond by agreeing to supervise a club I started at UConn. He’s been consistently supportive, both academically and personally. We’ve had countless run-ins on campus, whether it’s at the gym or just walking around, and every time, it led to a funny or motivational chat I’ll always remember.

    Q: What activities were you involved in as a student?

    A: I was the president of KSA (Korean Student Association) and founded and served as president of GIFT (Guys in Fitness Training). On the job side, I worked briefly as a tour guide and was also part of the athletic operations team for UConn’s sports programs. Getting involved in all these different spaces gave me the chance to meet incredible people and build lasting relationships. Get involved everywhere as much as you can.

    Q: What’s one thing that surprised you about UConn?

    A: I was never bored. Not once. People love to say college towns don’t have much going on, but UConn proved them all wrong. If anything, there was too much to do. Even after four years, I feel like I barely scratched the surface of everything this place has to offer.

    Q: What are your plans after graduation/receiving your degree?

    A: I plan to continue working in the sports industry. I’ve been fortunate enough to intern with a few teams, and I’m excited to explore roles in sponsorships and partnerships. Long-term, I want to build something of my own. Something rooted in sports and driven by a bigger purpose. My dream is to make a difference while doing what I love.

    Q: How has UConn prepared you for the next chapter in life?

    A: UConn taught me how to be independent and thrive on my own. Sure, it’s fun to be surrounded by friends, go to games together, and eat at the dining halls. But there were also those moments when I had to stand on my own. Those moments helped me figure out who I am, what I value, and the kind of people I want around me. Thanks to the support of my professors, advisors, and friends, I’ve learned a lot about life and about myself.

    UConn taught me how to be independent and thrive on my own. &#8212 Nathan Kim

    Q: Any advice for incoming students?

    A: Come in knowing your “why” and be proud of it. Don’t feel like you need to fit into a mold. UConn has so many clubs, organizations, and communities that you will find your people. Your journey is your own, and that’s what makes it special. Be confident in your path, even if it looks different from everyone else’s.

    Q: What’s one thing everyone should do during their time at UConn?

    A: Okay, I know the default answer is “go to a sporting game,” yes, you should definitely do that, but I want to give you a different take: use the Rec Center. Whether it’s group fitness classes, pickup sports, or just hanging out, the Rec Center is a hub of energy and good vibes. Even if you’re not super into fitness, it’s a great way to meet people and stay active. Honestly, it’s one of the gems of campus life, and I definitely took this for granted. It’s honestly one of the things I will miss the most.

    Q: What will always make you think of UConn?

    A: A husky. No doubt. Every time I see one, I instantly think of UConn. It’s more than just a mascot here. It’s part of who we are. Honestly, I might even get a husky one day.

    MIL OSI USA News –

    May 9, 2025

  • MIL-OSI China: Xi says China, Russia to shoulder special responsibility as major countries

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

    MOSCOW, May 8 — China will work with Russia to shoulder the special responsibility as major countries of the world and permanent members of the UN Security Council, Chinese President Xi Jinping said here Thursday.

    Xi made the remarks while holding talks with Russian President Vladimir Putin during his state visit to Russia.

    At present, in the face of the countercurrent of unilateralism and the act of power politics and bullying in the world, the two sides should take a clear stand to jointly promote the correct historical perspective on World War II, safeguard the authority and status of the United Nations, resolutely defend the rights and interests of China, Russia and the vast number of developing countries, and promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, Xi said.

    Noting that he was glad to visit Russia again at the invitation of Putin and attend the celebrations marking the 80th anniversary of the Victory in the Soviet Union’s Great Patriotic War, Xi said that history and reality have fully proved that continuing to develop and deepen China-Russia relations is integral to carrying forward the friendship between the two peoples from generation to generation.

    It is an inevitable choice for both sides to achieve mutual success and promote their own development and revitalization, Xi said, adding that it is also the call of the times for safeguarding international fairness and justice and promoting the reform of the global governance system.

    Noting that this year marks the 80th anniversary of the victories of the Chinese People’s War of Resistance against Japanese Aggression, the Soviet Union’s Great Patriotic War and the World Anti-Fascist War, Xi said that 80 years ago, peoples of China and Russia made tremendous sacrifices and won great victories, making remarkable historic contributions to maintaining world peace and the cause of human progress.

    MIL OSI China News –

    May 8, 2025

  • MIL-OSI Global: ‘Everyone lives in fear’: trapped between two warring nuclear giants, the people of Kashmir continue to suffer

    Source: The Conversation – Global Perspectives – By Leoni Connah, Lecturer in International Relations, Flinders University

    Tensions between India and Pakistan escalated this week after India launched missile strikes on its long-time rival, killing more than 30 people.

    India was retaliating for a terror attack on tourists in Indian-controlled Kashmir on April 22, which killed 26 civilians, most of them Indian. New Delhi has blamed a Pakistan-based militant group for the incident.

    Pakistan has vowed revenge for the airstrikes, calling them an “act of war”.

    If a full-scale war does break out between the two nuclear powers, it wouldn’t be the first time they have fought over the disputed region of Kashmir. In fact, the two sides have been in conflict over Kashmir since 1947.

    The people of Kashmir, meanwhile, are stuck in the middle of this geopolitical rivalry, trapped in a security state with little hope for the future.

    Life before the April 22 terror attack

    Before the attack on the tourists last month, Indian Prime Minister Narendra Modi’s government had made repeated claims that “normalcy” was returning to the region.

    However, Kashmir remains one of the most heavily militarised zones in the world and the people have long suffered human rights abuses the Indian government has justified on the grounds of counter-terrorism.

    In 2019, the Modi government revoked Article 370 of the Indian constitution, which had granted a special status to the state of Jammu and Kashmir, along with a high degree of autonomy.

    The revocation of this article brought Jammu and Kashmir, now a “union territory”, under the full control of the Modi government in New Delhi.

    This decision was made on behalf of Kashmiris, not in consultation with them. Speaking with Kashmiris in 2020 as part of my ongoing research on the region, there was a huge sense of betrayal at the move.

    One of my interview subjects claimed Indian security forces were “instilling fear and psychological warfare” in Kashmir. Another said “it’s no exaggeration to say after every three kilometres, there’s a checkpoint” manned by Indian security forces. The situation worsened during the COVID pandemic, with increased lockdowns and curfews.

    Some hope did return last September when Kashmiris were able to vote in regional assembly elections for the first time in a decade.

    The election meant the new local assembly would have the power to make and amend laws, debate local issues and approve decisions for the territory, particularly in education and culture.

    However, this doesn’t mean “normalcy” had returned, nor was Kashmir peaceful and tranquil.

    In February of this year, there were reports that Indian security forces had conducted operations against suspected militants, resulting in a lockdown and 500 people being detained.

    A young Kashmiri man died by suicide after allegedly being tortured by police in February. The next day, another man was shot dead by the army.

    These are just two incidents that are part of a wider cycle of violence that has become a part of everyday life in Kashmir.

    Life after April 22

    After the April 22 tourist attack, the central government has doubled down on its heavy-handed approach to Kashmir under the guise of counter-terrorism.

    Kashmiris have been subjected to an increased security presence, new lockdowns, “cordon and search operations”, social media surveillance, house demolitions and other draconian measures.

    Police say some 1,900 Kashmiris have been detained and questioned since the attack. This number will no doubt continue to rise.

    It is no wonder Kashmiris were saying “everyone lives in fear”, even before India launched missile strikes on its neighbour.

    Possible retaliation from Pakistan – or a wider war – now looms, with Kashmiris again on the front lines.

    Calls for India to follow Israel’s lead

    There is a very big concern that right-wing Indian media outlets and social media posts are now encouraging the Indian government to respond to the terror attack in the same way Israel has retaliated against Hamas in Gaza.

    Some commentators are portraying the April 22 attack as India’s version of the October 7 Hamas attack on southern Israel, which could become a dangerous precedent for what the future holds for Kashmir.

    Israel also recently announced its support for India’s right to “self-defence”.

    In addition, the rise in right-wing rhetoric increases the likelihood of Islamophobic attacks taking place against Kashmiris, as well as Muslims in India more broadly.

    Pathways to peace?

    Each war fought between India and Pakistan over Kashmir has ended with negotiations and treaties.

    Bilateral relations have been attempted numerous times over the years and would be a preferable option to increased escalation in the current conflict.

    Ultimately, it is the Kashmiris who suffer the most whenever tensions boil over between the two nuclear powers. As one young man recently said:

    My parents don’t allow me to step outside. Every time I get a call, I feel a wave of anxiety, fearing it might be the police.

    Kashmir might be a wonderland, a mini-Switzerland or a paradise for others, but for us, it is an open prison. Everyone lives in fear. What future do we have?

    Leoni Connah 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. ‘Everyone lives in fear’: trapped between two warring nuclear giants, the people of Kashmir continue to suffer – https://theconversation.com/everyone-lives-in-fear-trapped-between-two-warring-nuclear-giants-the-people-of-kashmir-continue-to-suffer-256085

    MIL OSI – Global Reports –

    May 8, 2025

  • MIL-OSI Europe: Press release – Human rights breaches in Tanzania, Russia and Tibet

    Source: European Parliament

    On Thursday, Parliament adopted human rights resolutions on Tanzania, Russia and Tibet.

    Arrest and risk of execution of Tundu Lissu, leader of Chadema, Tanzania’s main opposition party

    In their resolution, MEPs condemn the arrest of the leader of Tanzania’s main opposition party Chadema, and express great concern regarding the politically motivated accusations that could lead to Tundu Lissu being sentenced to death.

    They urge the Tanzanian authorities to restore Chadema’s full participation in the October 2025 elections, engage in dialogue with all political parties on electoral reform, respect the political parties’ rights and guarantee free and fair elections.

    The resolution denounces the escalation of repression in Tanzania, with arbitrary arrests and the harassment of opposition politicians, human rights defenders, LGBTQI+ activists, journalists and civil society organisations.

    Tanzania must abolish the death penalty and commute all death sentences, say MEPs, and the EU must ensure its development cooperation with Tanzania, not least under the Global Gateway initiative, is compatible with the promotion of human rights, freedom of expression and fair trial standards.

    The resolution was adopted by show of hands.

    Return of Ukrainian children forcibly transferred and deported by Russia

    MEPs strongly condemn the “genocidal strategy” carried out by Russia, with the support of Belarus, designed to erase Ukrainian identity. The forced transfer and deportation of Ukrainian children, their illegal adoption, their assassination, and the forced Russification and militarisation must stop.

    Russia must report the identities and whereabouts of all deported Ukrainian children and ensure their well-being and safe and unconditional return. The Russian authorities must also allow international organisations, such as the International Committee of the Red Cross, the Office of the UN High Commissioner for Human Rights and UNICEF, access to all deported Ukrainian children, argue MEPs.

    The EU must continue to support the Ukrainian authorities and international and non‑governmental organisations in their efforts to document the deported children. . MEPs also call on the EU and the member states to join the International Coalition for the Return of Ukrainian Children. The international community must meanwhile hold Russia accountable by reinforcing coordination through the International Criminal Court, the International Court of Justice, and the Special tribunal for the crime of aggression against Ukraine. “Any genuine peace deal must include the repatriation of these children and accountability for forcible transfers and deportations, ” MEPs conclude.

    The resolution was adopted by 516 votes in favour, 3 votes against and 34 abstentions.

    Violations of religious freedom in Tibet

    MEPs strongly condemn China’s repressive assimilation policies and violations of human rights, which seek to eliminate Tibet’s religious and cultural traditions and heritage. They express deep concern regarding the death in suspicious circumstances of Tulku Hungkar Dorje in March 2025 in Vietnam and call for an immediate, independent and transparent investigation, with international oversight, access to evidence and witnesses, and the immediate return of his remains.

    China’s authorities must put an end to discrimination against religious and ethnic minorities, allow peaceful religious practice, and release all religious and political prisoners, including the rightful Panchen Lama and Ilham Tohti.

    Parliament also condemns the transnational repression practices of the Chinese authorities and their interference in the selection of Tibetan Buddhist spiritual leaders, including the Dalai Lama. It calls on the EU to impose sanctions on officials and entities responsible for human rights violations in Tibet.

    The resolution was adopted by 478 votes in favour, 30 votes against and 41 abstentions.

    MIL OSI Europe News –

    May 8, 2025

  • MIL-OSI Europe: Written question – Need for European support for the Israel-Cyprus-Greece electricity interconnection (EuroAsia Interconnector) – E-001777/2025

    Source: European Parliament

    Question for written answer  E-001777/2025
    to the Commission
    Rule 144
    Loucas Fourlas (PPE)

    The EuroAsia Interconnector electricity interconnection project, between Israel, Cyprus and Greece, is a strategically important energy project for the EU’s security, resilience and green transition.

    In view of the above:

    • 1.Does the Commission intend to further promote this project through additional funding, technical support and its designation as a European model of strategic partnership in the Eastern Mediterranean?
    • 2.What measures is the Commission putting in place to contain Turkish threats regarding the project?

    Submitted: 2.5.2025

    Last updated: 8 May 2025

    MIL OSI Europe News –

    May 8, 2025

  • MIL-OSI: OTC Markets Group Welcomes Zoomcar Holdings, Inc. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Zoomcar Holdings, Inc. (OTCQX: ZCAR) (“Zoomcar”), leading marketplace for self-drive car sharing in India, has qualified to trade on the OTCQX® Best Market. Zoomcar previously traded on NASDAQ.

    Zoomcar begins trading today on OTCQX under the symbol “ZCAR.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

    About Zoomcar
    Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for self-drive car sharing focused in India. The Zoomcar community connects Hosts with Guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in India.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

    May 8, 2025

  • MIL-OSI: Biz2Credit’s Annual Top 25 Cities for Small Business Report Identifies Worcester, MA as #1

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) — The 2025 Biz2Credit Top Cities for Small Business Study has identified Worcester, MA, as the top city for small businesses in its annual financial analysis. According to Biz2Credit’s analysis, the other cities in the top five are: Ventura, CA, Stamford, CT, Portland, OR, and San Jose, CA.  

    The study examined financial indicators, including annual revenue, credit score, age of business, and the proprietary BizAnalyzer® scores of businesses that applied for funding with Biz2Credit during 2024. The analysis found that small businesses’ average revenue increased while credit scores dipped slightly. 

    Key Findings:  

    • The top 25 study saw moderate changes compared to 2024, with the most notable being California’s tech-heavy bay area losing its top two spots. 
    • The leading industries among the top cities are retail trade, construction, healthcare & social assistance, and accommodation and food services. 
    • Average credit scores decreased by 5 points, from 652 to 647.  
    • Seven cities are new to the list this year: Worcester, MA (1), Buffalo, NY (11), Fresno, CA (15), Richmond, VA (17), Myrtle Beach, SC (23), New Haven, CT (24), Indianapolis, IN (25) 
    • Eight cities fell off the 2024 list: Pittsburgh, PA, Sacramento, CA, Minneapolis, MN, Port St. Lucie, FL, Philadelphia, PA, Hartford, CT, Riverside, CA, and Phoenix, AZ all fell outside the top 25 from last year’s list. This is the same number that fell off in Biz2Credit’s 2024 study. 

    The Top 25 Cities for Small Business for this year (with 2024 ranking in parenthesis) are:  

    1. Worcester, MA (unranked)
    2. Ventura/Oxnard, CA (13) 
    3. Greater Bridgeport, CT (5) 
    4. Portland, OR (7) 
    5. San Jose, CA (1) 
    6. Seattle, WA (4) 
    7. Salt Lake City, UT (11) 
    8. Colorado Springs, CO (3) 
    9. Nashville, TN (22) 
    10. Denver, CO (15) 
    11. Buffalo, NY (unranked) 
    12. Providence, RI (9) 
    13. San Diego, CA (6) 
    14. San Francisco, CA (2) 
    15. Fresno, CA (unranked) 
    16. Boston, MA (12) 
    17. Richmond, VA (unranked) 
    18. New York City, NY (8) 
    19. Los Angeles, CA (17) 
    20. Washington, D.C. (16) 
    21. Baltimore, MD (10) 
    22. Hartford, CT (23) 
    23. Myrtle Beach, SC (unranked) 
    24. New Haven, CT (unranked) 
    25. Indianapolis, IN (unranked) 

    “Small businesses in Ventura County (Ventura and Oxnard) had high average annual revenues ($1,075,489), strong average credit score (679), and are mature businesses,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance. “This year’s top 5 continues to show the strength of our nation’s coastal states as hubs for small and medium size businesses.” 

    Methodology  

    The data included in this study was collected from submitted cases between Jan. 1, 2024, and Dec. 31, 2024. The study encompassed more than 75,000 applications. Biz2Credit set a threshold of 150 applications for an MSA (Metropolitan Statistical Area) to be included in the 2024 study. As a result, the MSA level analysis was based on 49,940 cases above the threshold. Data pertaining to state name, MSA, and ZIP code is from the U.S. Census.  

    The 2025 Top 25 Cities Study is based on actual verified cash flows of merchants on the Biz2Credit platform during 2024. Submitted cases with an annual revenue exceeding $5 million were excluded from the revenue analysis. The ranking of cities in the study was established using BizAnalyzer Score (BA Score), a proprietary score developed by Biz2Credit. To determine the BA Score, Biz2Credit examined several key factors, including Credit Score, Annual Revenue, Age of Business, Debt-to-Income Ratio, and Cash Flow Analytics powered by Bank Statement Analyzer. 

    About Biz2Credit  

    Founded in 2007, Biz2Credit has helped thousands of companies access more than in small business financing. Biz2Credit is headquartered in New York City, employs over 800 people with over half in product, data science, and engineering roles. Using data analytics and predictive modeling, Biz2Credit seeks to enhance the accuracy and transparency of business credit decisions, fueling long-term economic development. Visit www.biz2credit.com, or follow the company on LinkedIn, Instagram, Facebook, and X (formerly Twitter).

    Media Contact: Brett Holzhauer, (818) 326-1109, brett.holzhauer@biz2credit.com 

    The MIL Network –

    May 8, 2025

  • MIL-OSI: Himax Technologies, Inc. Reports First Quarter 2025 Financial Results; Provides Second Quarter Guidance

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 Revenues At the High End of Projected Range, Gross Margin In-Line, EPS Exceeded Guidance Range Issued on February 13, 2025
    Company Q2 2025 Guidance: Revenues to Decrease 5.0% to Increase 3.0% QoQ, Gross Margin is Expected to be Around 31.0%. Profit per Diluted ADS to be 8.5 Cents to 11.5 Cents

    • Q1 2025 revenues were $215.1M, a decrease of 9.3% QoQ, reaching the high end of the guidance range of 8.5% to 12.5% decrease QoQ
    • Q1 GM reached 30.5%, in line with guidance of around 30.5%, flat from last quarter but up from 29.3% the same period last year, mainly a result of favorable product mix and continued cost optimization
    • Q1 2025 after-tax profit was $20.0M, or 11.4 cents per diluted ADS, exceeding the guidance range of 9.0 cents to 11.0 cents
    • Himax Q2 2025 revenues to decline 5.0% to increase 3.0% QoQ. GM to be around 31.0%, up from 30.5% in the prior quarter. Profit per diluted ADS to be in the range of 8.5 cents to 11.5 cents
    • Currently, tariffs have not had a significant direct impact on Himax’s business
    • Conservative Q2 revenue guidance reflects customers’ overall caution toward the global economic outlook and end market demand. Low 2H25 market visibility as tariff negotiations continues
    • As the tariff-driven supply chain restructuring gains momentum, Himax is deepening its well-established Taiwan supply chain and strengthening into CN, KR, SG to enhance production flexibility, cost competitiveness and mitigate geopolitical risks
    • Despite near-term headwinds, Himax continues to lead the global automotive display market, holding a 40% share in DDIC, over 50% in TDDI, and an even higher share in cutting-edge local dimming Tcon technologies
    • Sample shipments of first-gen silicon photonics packaging solution for engineering validation and trial production are proceeding as planned. Himax continues to advance technology roadmap in close collaboration with FOCI, top-tier AI companies, and foundry partner through joint development of future-gen CPO solutions to meet the escalating bandwidth requirements driven by AI and HPC
    • Despite the volatile geopolitical environment, Himax continues to actively explore high-growth markets to expand global footprint while developing long-term competitive advantages. Established a three-party strategic alliance with Powerchip and Tata Electronics. The collaboration echoes the “Make in India” strategy of the Indian government for high-tech areas while exploring India’s vast market demand

    TAINAN, Taiwan, May 08, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, announced its financial results for the first quarter 2025 ended March 31, 2025.

    “The recent abrupt and significant NT dollar appreciation against the US dollar, its impact on our Q2 financial results is limited and has been accounted for in Q2 financial guidance. Currently, tariffs have not had a significant direct impact on Himax’s business, as our IC products are not directly exported to the U.S. Amid the volatile macro environment, most panel customers have adopted a make-to-order model and are keeping inventories lean. In response, we are carefully monitoring wafer-starts, maintaining low inventory levels, and rigorously controlling operating expenses,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax.

    “Automotive IC business currently accounts for half of Himax’s revenue. Having served the automotive display market for almost two decades, Himax has maintained a balanced global market share across major regions while demonstrating technological leadership and offering the industry’s most comprehensive suite of panel ICs, spanning LCD to OLED. Combined with over a decade of loyal relationships with global Tier 1 suppliers and automotive brands, these strengths help mitigate potential risks from tariffs and reinforce the long-term stability of our automotive business. In addition, Himax remains committed to a number of innovative fields, namely ultralow power AI, AR glasses, and co-packaged optics. These innovative fields are relatively less affected by macroeconomic fluctuations, and customer development efforts have not slowed due to tariff uncertainties. We expect these businesses to contribute meaningfully to both revenue and gross margin in the years ahead,” concluded Mr. Jordan Wu.

    First Quarter 2025 Financial Results

    Himax net revenues registered $215.1 million, a decrease of 9.3% sequentially, reaching the high end of guidance range of a decline of 8.5% to 12.5%, but representing a 3.7% increase year over year. Gross margin was 30.5%, in line with guidance of around 30.5%, flat from last quarter and up from 29.3% in the same period last year. The year-over-year increase was driven by a favorable product mix and continued cost optimization. Q1 profit per diluted ADS was 11.4 cents, exceeding the guidance range of 9.0 to 11.0 cents, primarily due to lower operating expenses.

    Revenue from large display drivers came in at $25.0 million, flat from last quarter despite the seasonal downturn. This was primarily driven by demand spurred by Chinese government subsidies aimed at reviving domestic consumption. Notebook and monitor IC sales both recorded solid double-digit growth in Q1. In contrast, TV IC sales declined as expected, due to customers pulling forward their inventory purchases in the prior quarter. Sales of large panel driver ICs accounted for 11.6% of total revenues for the quarter, compared to 10.5% last quarter and 15.1% a year ago.

    Revenue from the small and medium-sized display driver segment totaled $150.5 million, reflecting a sequential decline of 9.8% amid a typical low season. However, Q1 automotive driver sales, including both traditional DDIC and TDDI, outperformed guidance of a low-teens sequential decline, declining just single digit from the last quarter. The sequential decline reflected the waning effect of the Chinese government’s renewed trade-in stimulus, announced in mid-August 2024, while demand in other major markets remained stable. Q1 auto IC sales rose nearly 20% year over year, reflecting ongoing customer reliance on Himax’s technology and the strength of Company’s competitive moat. Himax’s automotive business, comprising DDIC, TDDI, Tcon, and OLED IC sales, remained the largest revenue contributor in the first quarter, representing more than 50% of total revenues. Meanwhile, both smartphone and tablet driver sales declined as expected amid a subdued festival season. The small and medium-sized driver IC segment accounted for 70.0% of total sales for the quarter, compared to 70.3% in the previous quarter and 69.5% a year ago.

    Q1 non-driver sales reached $39.6 million, a 12.8% decrease from the previous quarter. The sequential decline was primarily attributable to the absence of a one-time ASIC Tcon shipment to a leading projector customer in the prior quarter, coupled with a moderation in automotive Tcon shipments after several quarters of robust growth. That being said, Himax’s position in local dimming Tcon for automotive remains unrivaled, supported by increasing validation and adoption from leading panel makers, Tier 1 suppliers, and automotive manufacturers around the world. Himax also has a robust pipeline of over two hundred design-win projects that are set to gradually enter mass production in the coming years. Non-driver products accounted for 18.4% of total revenues, as compared to 19.2% in the previous quarter and 15.4% a year ago.

    First quarter operating expenses were $45.7 million, a decrease of 7.0% from the previous quarter and a decline of 9.8% from a year ago. Amid ongoing macroeconomic challenges, Himax is strictly enforcing budget and expense controls.

    First quarter operating income was $19.8 million or 9.2% of sales, compared to 9.7% of sales last quarter and 4.8% of sales for the same period last year. The sequential decrease was mainly the result of lower sales, offset by lower operating expenses. The year-over-year increase resulted primarily from higher sales, improved gross margins, and lower operating expenses. First-quarter after-tax profit was $20.0 million, or 11.4 cents per diluted ADS, compared to $24.6 million, or 14.0 cents per diluted ADS last quarter, and up from $12.5 million, or 7.1 cents in the same period last year.

    Balance Sheet and Cash Flow

    Himax had $281.0 million of cash, cash equivalents and other financial assets as of March 31, 2025. This compares to $277.4 million at the same time last year and $224.6 million a quarter ago. Himax achieved a strong positive operating cash flow of $56.0 million for the first quarter. As of March 31, 2025, Himax had $33.0 million in long-term unsecured loans, with $6.0 million being the current portion.

    Himax’s quarter-end inventories as of March 31, 2025 were $129.9 million, lower than $158.7 million last quarter and $201.9 million same period last year. Himax’s inventory levels have steadily declined for ten consecutive quarters since peaking during the Covid 19 pandemic when the industry was undergoing a supply shortage. As macroeconomic uncertainty impairs visibility across the ecosystem, Himax will continue to manage its inventory conservatively. Accounts receivable at the end of March 2025 was $217.5 million, down from $236.8 million last quarter but slightly up from $212.3 million a year ago. DSO was 91 days at the quarter end, as compared to 96 days last quarter and 93 days a year ago. First quarter capital expenditures were $5.2 million, versus $3.2 million last quarter and $2.7 million a year ago. First quarter capex was mainly for R&D related equipment for Company’s IC design business and ongoing construction of a new preschool near Himax’s Tainan headquarters for children of employees. The preschool is scheduled to open in 2026, reinforcing Company’s commitment to a family‑friendly workplace.

    Prior to today’s call, Himax announced an annual cash dividend of 37.0 cents per ADS, totaling $64.5 million and payable on July 11, 2025, with a payout ratio of 81.1% of the previous year’s profit. Himax will continue to focus on maintaining a healthy balance sheet while driving sustainable long-term growth to deliver value for its shareholders through high dividends and share repurchases.

    Outstanding Share

    As of March 31, 2025, Himax had 174.9 million ADS outstanding, unchanged from last quarter. On a fully diluted basis, the total number of ADS outstanding for the first quarter was 175.1 million. 

    Q2 2025 Outlook

    On the recent abrupt and significant NT dollar appreciation against the US dollar, its impact on Himax’s Q2 financial results is limited and has been accounted for in the financial guidance for the quarter. All of Himax’s revenues and nearly all of its cost of sales are US dollar denominated, providing a natural hedge for its buying and selling activities. In addition, the bulk of our R&D expenses, save for employee salaries, are also US dollar based. For employee compensation, a major item of Himax’s operating expenses, while its employees are paid in the local currency of their location for their salaries, their bonuses are all US dollar based. Other major non-US dollar expenses, mostly NT dollar-denominated, include utilities and income tax expenses. While Company don’t hedge for currency risk of our non-US dollar based operational expenses as the cost of such hedging would usually outweigh the benefit, Himax does purchase NTD in advance to cover the income tax payable, thereby minimizing the currency risk of a major expense item.

    The recently announced U.S. tariff measures have intensified global trade tensions, triggered volatility in capital markets, and heightened macroeconomic and market demand uncertainty. Currently, tariffs have not had a significant direct impact on Himax’s business, as Company’s IC products are not directly exported to the U.S. Instead, they are assembled into panels or modules by customers outside the United States and then sold into global markets, including the United States. Just a negligible portion — about 2%—of Himax’s products are shipped directly to the United States. Only customers for these products are subject to U.S. tariffs. Almost all of these products are manufactured in Taiwan. While some customers have requested early shipments to avoid tariff duties, many others have opted to defer their orders amid ongoing tariff-related uncertainties. The company’s conservative Q2 revenue guidance reflects the highly cautious stance of its customers in general toward the global economic outlook and end market demand amid ongoing tariff development. Looking into the second half of the year, overall market visibility remains low with the world continuing to closely monitor the development of tariff negotiations. As the tariff-driven supply chain restructuring gains momentum, Himax is deepening its well-established supply chain in Taiwan while further strengthening its supply chain presence in China, Korea, Singapore, and other regions to ensure production flexibility and cost competitiveness, and to better mitigate geopolitical risks.   

    Amid the volatile macro environment, most panel customers have adopted a make-to-order model and are keeping inventories lean. In response, Himax is carefully monitoring wafer-starts, maintaining low inventory levels, and rigorously controlling operating expenses. Concurrently, Company is further optimizing costs by diversifying both foundry and backend packaging and testing, while mitigating risks and enhancing manufacturing flexibility. This approach is exemplified by the major milestone recently achieved in automotive display IC collaboration with Nexchip in China, with products now in mass production and adopted by leading automakers. This not only validates Himax’s diversified supply chain strategy but also underscores its steadfast commitment to scaling capacity and cost optimization.

    Automotive IC business currently accounts for half of Himax’s revenue. Having served the automotive display market for almost two decades, Himax has maintained a balanced global market share across major regions while demonstrating technological leadership and offering the industry’s most comprehensive suite of panel ICs, spanning LCD to OLED. Combined with over a decade of loyal relationships with global Tier 1 suppliers and automotive brands, these strengths help mitigate potential risks from tariffs and reinforce the long-term stability of Himax’s automotive business.

    In addition, Himax remains committed to a number of innovative fields, namely ultralow power AI, AR glasses, and co-packaged optics (CPO). Technologies in these areas are approaching maturity and offer substantial growth potential. As a pioneer and leader in key technologies enabling these novel areas, Himax is working closely with supply chain partners, from technology development through to mass production, to actively expand new business opportunities. These innovative fields are relatively less affected by macroeconomic fluctuations, and customer development efforts have not slowed due to tariff uncertainties. Himax expects these businesses to contribute meaningfully to both revenue and gross margin in the years ahead.

    Despite the volatile geopolitical environment, Himax continues to actively explore high-growth markets, establish close partnerships with industry-leading companies, and continue to expand its global footprint while developing long-term competitive advantages. In Himax’s latest cross-border cooperation the Company established a three-party strategic alliance with Powerchip and Tata Electronics, a subsidiary of Tata Group, India’s largest and most influential conglomerate. This collaboration combines Tata Electronics’ deep manufacturing and local supply chain integration strengths, Powerchip’s mature wafer manufacturing capabilities, and Himax’s leading display IC and WiseEye ultralow power AI sensing technologies to jointly create a powerful ecosystem. The collaboration echoes the “Make in India” strategy of the Indian government for high-tech areas while exploring the huge potential demand of the Indian market.

    Display Driver IC Businesses

    LDDIC

    In Q2 2025, Himax anticipates large display driver IC sales to decline by a single digit sequentially, driven by customers’ pull forward orders placed in prior quarters, against the backdrop of Chinese government subsidies boosting domestic consumption. Monitor and notebook IC sales are expected to decrease in Q2, whereas TV IC sales are set to increase sequentially, driven by higher shipments to key end customers.

    Looking ahead in the notebook sector, Himax is observing a growing trend for premium notebooks to adopt OLED displays and advanced touch features, partially fueled by the rise of AI PC. Himax is well-positioned to capitalize on this trend, offering a comprehensive range of ICs for both LCD and OLED notebooks, including DDIC, Tcon, touch controllers, and TDDI. In addition, Himax is expanding its high-speed interface product portfolio to support faster data transfer rates, lower latency, and improved power efficiency, features that are critical for next-generation displays. Himax has made progress on the next-generation eDP 1.5 display interface for Tcon for both LCD and OLED panels. This high-speed interface supports high frame rates, low power consumption, adaptive sync, and high resolution, key features essential for next-generation AI PCs. Through ongoing portfolio expansion and continuous technology innovation, Himax is well-positioned to lead in the rapidly evolving landscape of AI PCs and premium notebooks.

    SMDDIC

    Q2 small and medium-sized display driver IC business is expected to decline single-digit from the last quarter. Himax expects Q2 automotive driver IC sales, including both TDDI and traditional DDIC, to decline mid-teens sequentially, reflecting the combined impact of tariffs and the waning effect of China’s automotive subsidy program. Despite these near-term headwinds, automotive TDDI adoption continues to expand across the globe, driven by growing demand for more intuitive, interactive, and cost-effective touch panel features essential in modern vehicles. Himax’s cumulative shipments of automotive TDDI have outpaced competitors, with nearly 500 design-in projects secured to date, the majority of which have yet to enter mass production. On top of a continuous influx of new pipelines and design wins across the board, Himax is well-positioned for continued growth, further reinforcing Himax’s leadership in this space. For automotive DDIC, Himax continues to see solid shipment volume for automotive DDICs for non-touch applications including cluster displays, HUDs, and rear- and side-view mirrors. Company’s confidence is further strengthened by the growing proliferation of advanced technologies, such as LTDI (Large Touch and Display Driver Integration) in large-display car models. Himax is a pioneer in LTDI technology, which supports seamless, integrated large touch display panels, typically larger than 30 inches or spanning pillar-to-pillar across the entire width of the cockpit. LTDI also features high-density touch functionality for responsive performance, making it ideal for next-generation smart cabin designs that emphasize large displays and intuitive touch interaction. Additionally, Himax is seeing an increasing number of customers choosing to adopt its integrated LTDI and Tcon solution as the standard platform for their ultra large automotive display development. Such panels typically require four or more LTDI chips and at least one local dimming Tcon per panel. This growing platform adoption of more of Himax’s automotive IC offerings not only reflects strong customer loyalty to its technologies but also signifies an increase in content value for Himax on a per-panel basis. Multiple projects with global leading car brands are set to begin mass production starting the end of 2025. Himax continues to lead the global automotive display market, holding a 40% share in DDIC, over 50% in TDDI, and an even higher share in cutting-edge local dimming Tcon technologies.

    Himax expects Q2 smartphone IC revenues to decline mid-teens from last quarter, while tablet IC sales are poised to grow by high teens sequentially, driven by renewed demand from leading customers following several quiet quarters.

    On OLED business update. In the automotive OLED market, Himax has forged strategic alliances with leading panel makers in Korea, China, and Japan. As OLED technology expands beyond premium car models, Himax is well positioned to become the partner of choice and accelerate OLED adoption in vehicles by capitalizing on its strong presence and proven track record in automotive LCD displays. Leveraging Himax’s first mover advantage, Company offers a comprehensive suite of solutions, including DDIC, Tcon, and on-cell touch controllers. It’s worth noting that Himax’s advanced OLED on-cell touch-control technology boasts an industry-leading signal-to-noise ratio exceeding 45 dB, delivering reliable performance even under challenging operational conditions such as glove wearing or wet-finger. The solution entered mass production in 2024, and an increasing number of leading global brands are rapidly adopting it for their premium car models. Himax expects to be a key beneficiary of the shift to OLED displays for the automotive industry over the next few years, unlocking a new growth driver for Himax that further reinforces its market leadership.

    In addition, Himax has expanded its comprehensive OLED portfolio into the tablet and notebook markets, covering DDIC, Tcon, and touch controllers, through partnerships with leading OLED panel makers in Korea and China. Several new projects are slated to enter mass production with top-tier brands later this year. Meanwhile, Himax is developing value-added features, such as active stylus and gaming models to further enhance its product differentiation and competitive edge. In the smartphone OLED market, Himax is making solid progress in its collaborations with customers in Korea and China and expects mass production to start later this year.

    Non-Driver Product Categories

    Q2 non-driver IC revenues are expected to increase low teens sequentially.

    Timing Controller (Tcon)

    Himax anticipates Q2 2025 Tcon sales to increase high teens sequentially, primarily due to increased shipment of Tcon for notebook and automotive products. Automotive Tcon sales are set to increase by double digit in Q2, fueled by a strong pipeline of over two hundred design-win projects gradually entering mass production. With a steady influx of new projects, coupled with growing validation and widespread adoption of Himax’s local dimming Tcon in both premium and mainstream car models worldwide, Himax continues to maintain an unchallenged leadership position with a dominant market share. In the second quarter, Himax expects Tcon business to account for over 12% of total sales, with notable contributions from automotive Tcon. Meanwhile, head-up-display (HUD) is emerging as a major growth area within automotive displays, where local dimming Tcon adoption is accelerating. Himax’s industry-leading local dimming Tcon eliminates the “postcard effect” often seen in HUDs, caused by backlight leakage typical of conventional TFT LCD panels, delivering crisp, high‑fidelity images on the windshield. Additionally, it features advanced transparency detection to prevent the display from obstructing the driver’s view, thereby ensuring driving safety. With several HUD projects already underway and increasing inquiries, Himax is excited about the potential opportunity ahead. Himax’s automotive Tcon business is well positioned for growth over the next few years.

    WiseEye™ Ultralow Power AI Sensing

    On the update of WiseEye™ ultralow power AI sensing solution, a cutting-edge endpoint AI integration featuring industry-leading ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm. In the rapidly evolving AI landscape, WiseEye AI technology stands out for its expertise in on‑device AI, characterized by remarkably low power consumption, operating at just single‑digit milliwatts, and enabling AI functionality in battery‑powered endpoint devices. Additionally, WiseEye AI significantly extends battery life and improves overall data processing efficiency by offloading tasks from the main processor. These attributes unlock new opportunities across a wide range of everyday battery‑powered endpoint applications, evidenced by broad adoption of WiseEye AI across diverse applications, including notebooks, tablet, smart door locks, surveillance systems, access control, smart retail and many others.

    On notebook, building on the success with Dell notebooks, WiseEye AI is expanding into additional use cases across other leading notebook brands, with some entering production later this year and expanding further into 2026. The growing adoption is further fueled by the rise of AI PCs, as WiseEye’s ultralow power, on-device inference capabilities align seamlessly with the industry’s shift toward more intelligent, context-aware, and energy-efficient computing. WiseEye’s advanced local inferencing technology enables real-time, high-precision user engagement detection by analyzing presence and motion, supporting a broad set of intelligent features, such as head pose estimation, gaze tracking, facial expression recognition, voice command, adaptive screen dimming, secure identity authentication and many others. These features enhance interactivity and user comfort without compromising battery life or system performance, making it fit for the demands of high performance and energy efficient next-generation AI PCs.

    WiseEye also continues to achieve significant market success across various sectors such as smart door lock where Himax introduced the world’s first smart door lock with 24/7 sentry monitoring and real-time event recording. Himax is now expanding globally by collaborating with a number of leading door lock makers worldwide to integrate a suite of innovative AI features, including palm vein biometric access, parcel recognition, and anti-pinch protection. Several of these value-added solutions are slated for mass production later this year. WiseEye also powers smart retail, exemplified by Himax’s collaboration with E Ink on e‑Signage. Its always‑on AI detects viewer attributes, such as gender, appearance, and age, followed by real-time personalized ads and nearby product recommendations, creating immersive engagement that elevates the in‑store shopping experience.

    For an update on Himax’s WiseEye module business. Equipped with pre-trained no-code or low-code AI, WiseEye modules simplify AI integration and support diverse use cases, including human presence detection, gender and age recognition, gesture recognition, face mesh, voice commands, thermal image sensing, palm vein authentication, and people flow management. Among them, the Himax PalmVein module has generated strong engagement across several industries. Multiple design wins have been secured, with mass production underway by global customers for smart access, workforce management and smart door lock, as Himax continues to explore additional application opportunities. Meanwhile, to meet growing demand for flexible access control in varied settings, the upgraded WiseEye PalmVein suite now combines palm‑vein recognition and facial recognition with peephole‑camera input, underpinned by an advanced liveness check for high‑precision, multi‑modal authentication. This upgraded PalmVein module not only enhances security by offering multiple layers of biometric verification but also ensures adaptability across a wide range of environments. These attributes make it particularly appealing to global brands looking to differentiate their products with enhanced security, greater user convenience, and flexible customization. Himax  anticipates increasing sales contribution from WiseEye PalmVein across a diverse array of applications starting next year and are excited about its long-term growth potential. Looking ahead, WiseEye is poised to scale rapidly across the broader AIoT market and emerge as a key growth driver for Himax in the years ahead.

    Separately, Himax is bringing intelligent, ultralow power, always‑on AI sensing to AR glasses. Powered by real‑time, context‑aware AI running at single‑digit‑milliwatt, WiseEye uniquely delivers the two essentials for AR devices: instant responsiveness and all‑day battery life. These advantages have already led to WiseEye AI being adopted by a leading AR glasses platform, with ongoing engineering engagements involving several other prominent global AR tech names for their upcoming AR glasses. WiseEye supports always-on outward sensing, enabling AR glasses to detect and analyze the surrounding environment in real time. This empowers instant response and key functionality such as object recognition, navigation assistance, translation, and environmental mapping, greatly enhancing the overall AR experience. WiseEye also enables precise inward sensing, detecting subtle eye movements, gaze direction, pupil size, and blinking, providing critical data for more intuitive and natural user interactions in AR applications.

    Wafer Level Optics (WLO)

    In June 2024, Himax, in partnership with FOCI, a world leader in silicon photonics connectors, unveiled a state-of-the-art silicon photonics packaging technology, a critical technology to enable co-packaged optics (CPO) technology. This innovation of CPO integrates silicon photonic chips and optical connectors within multi-chip modules (MCM), replacing traditional metal wire transmission with high-speed optical communication. The technology significantly enhances bandwidth, boosts data transmission rates, reduces signal loss and latency, lowers power consumption, and significantly minimizes the size and cost of MCM.

    Currently, sample shipments of Company’s first-generation silicon photonics packaging solution for engineering validation and trial production are proceeding as planned, with volumes set to increase in the coming quarters. In addition, Himax continues to advance its technology roadmap in close collaboration with FOCI, top-tier AI companies, and foundry partner through the joint development of future-generation CPO solutions to meet the escalating bandwidth requirements driven by AI and HPC applications.

    Himax is pleased to see its partner, FOCI, achieving significant advancements in silicon photonics packaging, with notable improvements in automated production and testing. Together, Himax and FOCI are actively progressing in process validation and yield optimization to enable full-scale production for leading AI customers. Himax is exceptionally positioned to capitalize on future growth opportunities in high-performance computing, AI inference, and data center markets.

    Alongside the CPO progress, certain global technology leaders are now engaging Himax’s WLO expertise to develop next‑generation waveguides for AR glasses, a testament to the market’s growing confidence in Company’s WLO technology.

    With strong growth opportunities from CPO and AR glasses in the making, Himax is as optimistic as ever that its WLO business can emerge as a significant revenue and profit engine in the years ahead.

    LCoS

    On Himax’s latest advancement in LCoS microdisplay technology. At Display Week 2025 next week in San Jose, Himax will debut its ultra-luminous, miniature Dual-Edge Front-lit LCoS microdisplay. This industry-leading solution integrates both the illumination optics and LCoS panel into an exceptionally compact form factor, as small as 0.09 c.c., and weighing only 0.2 grams, while targeting up to 350,000 nits brightness and 1 lumen output at just 250mW maximum total power consumption, demonstrating unparalleled optical efficiency. The luminance breakthrough ensures excellent eye-level visibility even in bright ambient conditions, while its compact form factor enables the development of sleek, everyday AR glasses. With industry-leading compact form factor, superior brightness and power efficiency, it is ideally suited for next-generation AR glasses and head-mounted displays where space, weight, and thermal constraints are critical. Growing collaborations with leading global tech companies are underway. Himax is confident that its technological advancements will help revitalize the AR glasses market, drive its expansion, and unlock new possibilities for immersive visual experiences.

    Second Quarter 2025 Guidance  
    Net Revenue: Decline 5.0% to Increase 3.0% QoQ
    Gross Margin: Around 31.0%, depending on final product mix
    Profit: 8.5 cents to 11.5 cents per diluted ADS
       

     

    HIMAX TECHNOLOGIES FIRST QUARTER 2025 EARNINGS CONFERENCE CALL 
    DATE: Thursday, May 8, 2025
    TIME: U.S.       8:00 a.m. EDT
      Taiwan  8:00 p.m.
       
    Live Webcast (Video and Audio): http://www.zucast.com/webcast/tUOBrqcV
    Toll Free Dial-in Number (Audio Only): Hong Kong 2112-1444
      Taiwan 0080-119-6666
      Australia 1-800-015-763
      Canada 1-877-252-8508
      China (1) 4008-423-888
      China (2) 4006-786-286
      Singapore 800-492-2072
      UK 0800-068-8186
      United States (1) 1-800-811-0860
      United States (2) 1-866-212-5567
    Dial-in Number (Audio Only):  
      Taiwan Domestic Access 02-3396-1191
      International Access +886-2-3396-1191
    Participant PIN Code: 3300508 #  

    If you choose to attend the call by dialing in via phone, please enter the Participant PIN Code 3300508 # after the call is connected. A replay of the webcast will be available beginning two hours after the call on www.himax.com.tw. This webcast can be accessed by clicking on this link or Himax’s website, where it will remain available until May 8, 2026.

    About Himax Technologies, Inc.
    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements
    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Company Contacts:
      
    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    -Financial Tables-

    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Profit or Loss
    (These interim financials do not fully comply with IFRS because they omit all interim disclosure required by IFRS)
    (Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)
     
      Three Months
    Ended March 31,    		   3 Months
    Ended
    December 31,
       2025    2024   2024
               
    Revenues          
    Revenues from third parties, net $ 215,095     $         207,544     $ 237,182  
    Revenues from related parties, net           38               6               41  
                215,133               207,550               237,223  
               
    Costs and expenses:          
    Cost of revenues           149,581               146,805               164,963  
    Research and development           34,987               39,664               37,584  
    General and administrative           5,557               5,890               5,711  
    Sales and marketing           5,202               5,162               5,886  
    Total costs and expenses           195,327               197,521               214,144  
               
    Operating income           19,806               10,029               23,079  
               
    Non operating income (loss):          
    Interest income           2,312               2,524               2,042  
    Changes in fair value of financial assets at fair value through profit or loss           (17 )             (7 )             1,245  
    Foreign currency exchange gains, net           345               941               690  
    Finance costs           (903 )             (1,018 )             (964 )
    Share of losses of associates           (742 )             (221 )             (360 )
    Other gains           3,205               –               –  
    Other income           17               29               60  
                4,217               2,248               2,713  
    Profit before income taxes           24,023               12,277               25,792  
    Income tax expense           3,841               –               761  
    Profit for the period           20,182               12,277               25,031  
    Loss (profit) attributable to noncontrolling interests           (195 )             221               (423 )
    Profit attributable to Himax Technologies, Inc. stockholders $         19,987     $         12,498     $         24,608  
               
    Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders $         0.114     $         0.072     $         0.141  
    Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders $         0.114     $         0.071     $         0.140  
               
    Basic Weighted Average Outstanding ADS           174,913               174,724               175,008  
    Diluted Weighted Average Outstanding ADS           175,072               175,026               175,146  
                           
    Himax Technologies, Inc.
    IFRS Unaudited Condensed Consolidated Statements of Financial Position
    (Amounts in Thousands of U.S. Dollars)
     
      March 31,
    2025    		   March 31,
    2024    		   December 31,
    2024
    Assets          
    Current assets:          
    Cash and cash equivalents $         275,445     $         261,702     $         218,148  
    Financial assets at amortized cost           2,286               14,334               4,286  
    Financial assets at fair value through profit or loss           3,253               1,380               2,140  
    Accounts receivable, net (including related parties)           217,549               212,326               236,813  
    Inventories           129,867               201,872               158,746  
    Income taxes receivable           717               1,003               726  
    Restricted deposit           503,700               453,000               503,700  
    Other receivable from related parties           11               136               13  
    Other current assets           37,760               60,051               43,471  
    Total current assets           1,170,588               1,205,804               1,168,043  
    Financial assets at fair value through profit or loss           23,524               21,635               23,554  
    Financial assets at fair value through other
    comprehensive income    		           29,985               1,889               28,226  
    Equity method investments           8,061               3,173               8,571  
    Property, plant and equipment, net           120,538               128,938               121,280  
    Deferred tax assets           20,872               10,440               21,193  
    Goodwill           28,138               28,138               28,138  
    Other intangible assets, net           619               851               636  
    Restricted deposit           30               31               31  
    Refundable deposits           215,271               221,886               221,824  
    Other non-current assets           17,854               20,728               18,025  
                464,892               437,709               471,478  
    Total assets $         1,635,480     $ 1,643,513     $         1,639,521  
    Liabilities and Equity          
    Current liabilities:          
    Short-term unsecured borrowings $         602     $         –     $         –  
    Current portion of long-term unsecured borrowings           6,000               6,000               6,000  
    Short-term secured borrowings           503,700               453,000               503,700  
    Accounts payable (including related parties)           105,610               117,234               113,203  
    Income taxes payable           12,785               11,071               9,514  
    Other payable to related parties           –               92               –  
    Contract liabilities-current           5,176               14,739               10,622  
    Other current liabilities           50,443               116,558               63,595  
    Total current liabilities           684,316               718,694               706,634  
    Long-term unsecured borrowings           27,000               33,000               28,500  
    Deferred tax liabilities           557               499               564  
    Other non-current liabilities           7,489               14,823               7,496  
                35,046               48,322               36,560  
    Total liabilities           719,362               767,016               743,194  
    Equity          
    Ordinary shares           107,010               107,010               107,010  
    Additional paid-in capital           115,722               114,982               115,376  
    Treasury shares           (5,546 )             (5,157 )             (5,546 )
    Accumulated other comprehensive income           7,874               (94 )             8,621  
    Retained earnings           684,587               653,007               664,600  
    Equity attributable to owners of Himax Technologies, Inc.           909,647               869,748               890,061  
    Noncontrolling interests           6,471               6,749               6,266  
    Total equity           916,118               876,497               896,327  
    Total liabilities and equity $         1,635,480     $ 1,643,513     $         1,639,521  
                           
    Himax Technologies, Inc.
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in Thousands of U.S. Dollars)
        Three Months
    Ended March 31,    		   Three Months Ended
    December 31,
         2025     2024     2024
                 
    Cash flows from operating activities:            
    Profit for the period   $         20,182     $         12,277     $         25,031  
    Adjustments for:            
    Depreciation and amortization             5,156               5,471               5,564  
    Share-based compensation expenses             100               358               103  
    Losses (gains) on disposals of property, plant and equipment, net             (3,205 )             –               4  
    Changes in fair value of financial assets at fair value through profit or loss             17               7               (1,245 )
    Interest income             (2,312 )             (2,524 )             (2,042 )
    Finance costs             903               1,018               964  
    Income tax expense             3,841               –               761  
    Share of losses of associates             742               221               360  
    Inventories write downs             4,444               4,353               4,037  
    Unrealized foreign currency exchange losses (gains)             441               (868 )             (159 )
                  30,309               20,313               33,378  
    Changes in:            
    Accounts receivable (including related parties)             13,083               15,704               (27,302 )
    Inventories             24,435               11,083               29,675  
    Other receivable from related parties             2               (67 )             9  
    Other current assets             (978 )             2,298               2,502  
    Accounts payable (including related parties)             (7,250 )             13,202               (7,706 )
    Other payable to related parties             –               (20 )             1  
    Contract liabilities             735               1,192               6  
    Other current liabilities             (3,763 )             (7,780 )             2,508  
    Other non-current liabilities             71               514               71  
    Cash generated from operating activities             56,644               56,439               33,142  
    Interest received             438               854               3,513  
    Interest paid             (835 )             (936 )             (1,047 )
    Income tax paid             (200 )             391               (191 )
    Net cash provided by operating activities             56,047               56,748               35,417  
                 
    Cash flows from investing activities:            
    Acquisitions of property, plant and equipment             (5,221 )             (2,699 )             (3,222 )
    Acquisitions of intangible assets             (52 )             (118 )             –  
    Acquisitions of financial assets at amortized cost             –               (2,439 )             (2,286 )
    Proceeds from disposal of financial assets at amortized cost             2,000               500               10,289  
    Acquisitions of financial assets at fair value through profit or loss             (6,160 )             (7,488 )             (6,807 )
    Proceeds from disposal of financial assets at fair value through profit or loss             5,017               8,163               3,722  
    Acquisitions of financial assets at fair value through other comprehensive income             (2,500 )             –               –  
    Acquisition of a subsidiary, net of cash paid             –               –               (5,416 )
    Proceeds from capital reduction of investment             –               –               338  
    Acquisitions of equity method investment             –               –               (1,236 )
    Decrease (increase) in refundable deposits             10,283               22,217               (8 )
    Net cash provided by (used in) investing activities             3,367               18,136               (4,626 )
                 
    Cash flows from financing activities:            
    Purchase of treasury shares             –               –               (832 )
    Prepayments for purchase of treasury shares             –               –               (2,168 )
    Proceeds from issuance of new shares by subsidiaries             –               71               –  
    Proceeds from short-term unsecured borrowings             612               –               –  
    Repayments of long-term unsecured borrowings             (1,500 )             (1,500 )             (1,500 )
    Proceeds from short-term secured borrowings             484,300               447,100               461,400  
    Repayments of short-term secured borrowings             (484,300 )             (447,100 )             (461,400 )
    Payment of lease liabilities             (1,448 )             (1,148 )             (1,340 )
    Guarantee deposits received (refunded)             –               (1,868 )             219  
    Net cash used in financing activities             (2,336 )             (4,445 )             (5,621 )
    Effect of foreign currency exchange rate changes on cash and cash equivalents             219               (486 )             (1,161 )
    Net increase in cash and cash equivalents             57,297               69,953               24,009  
    Cash and cash equivalents at beginning of period             218,148               191,749               194,139  
    Cash and cash equivalents at end of period   $         275,445     $         261,702     $         218,148  
                 

    The MIL Network –

    May 8, 2025

  • MIL-OSI: Bridge Specialty Group acquires the assets of Tim Parkman, Inc.

    Source: GlobeNewswire (MIL-OSI)

    DAYTONA BEACH, Fla., May 08, 2025 (GLOBE NEWSWIRE) — J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE:BRO), and Timothy Parkman, owner of Tim Parkman, Inc. (“TPI”), today announced that a Bridge Specialty Group company and subsidiary of Brown & Brown, Inc. has acquired the assets of TPI.

    Established in 2002, TPI is a full-service wholesale insurance brokerage located in Clinton, Mississippi. TPI was founded with a mission to provide all customers with consistently superior service while sustaining positive underwriting results. Initially focused on personal lines, TPI has expanded into commercial lines and leverages its proprietary state-of-the-art technology platform to deliver premier service to its network of over 5,000 retail agents. TPI will continue to operate from Clinton, Mississippi, under the leadership of President Mike Leach. Tim Parkman will continue with the business, providing oversight and support. Mike Leach will report to Jason Haupt, regional president of Bridge Specialty Group’s Mid-Atlantic and Delta region.

    Steve Boyd, president of Bridge Specialty Group, stated, “We are excited to welcome the TPI team to Bridge Specialty Group. TPI’s specialized product suite and broad distribution footprint in Mississippi and the Gulf States are a great complement to Bridge Specialty Group’s offerings today.”

    Tim Parkman said, “TPI has always been about people — our agents, carriers and team members. With Bridge Specialty, we’re joining an organization that shares our vision and brings added resources to help us achieve even more together. We’re incredibly excited for what lies ahead.”

    About Bridge Specialty Group, LLC

    Bridge Specialty Group is a leading global insurance wholesaler with access to over 230 admitted, excess and surplus lines and Lloyd’s markets that support over $7 billion premium book. With more than 50 locations and 2,000 teammates throughout the United States, United Kingdom, Europe and Asia, Bridge Specialty Group holds market recognition that enables us to connect retail partners with tailored insurance solutions through our specific practice groups, including property, casualty, executive risk, personal lines, public entity,
    transportation, workers’ compensation, Farm and Ranch and Environmental.

    About Brown & Brown, Inc.

    Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm providing enhanced customer-centric risk management solutions since 1939. With a global presence spanning 500+ locations and a team of more than 17,000 professionals, we are dedicated to delivering scalable, innovative strategies for our customers at every step of their growth journey. Learn more at BBrown.com.

    This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.

    For more information:

    R. Andrew Watts
    Chief financial officer
    (386) 239-5770

    The MIL Network –

    May 8, 2025

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Ireland: Kara Owen

    Source: United Kingdom – Executive Government & Departments 3

    Press release

    Change of His Majesty’s Ambassador to Ireland: Kara Owen

    Ms Kara Owen has been appointed His Majesty’s Ambassador to Ireland.

    Ms Kara Owen CMG CVO has been appointed His Majesty’s Ambassador to Ireland in succession to Mr Paul Johnston.  Ms Owen will take up her appointment during September 2025.

    Curriculum vitae

    Full name: Kara Justine Owen

    Year Role
    July 2024 to present Projects/ pre-posting preparation with FCDO  
    2019 to 2024 Singapore, British High Commissioner  
    2016 to 2019 FCO, Director, Americas  
    2012 to 2016 Paris, Deputy Head of Mission  
    2011 to 2012 FCO, Head of Strategy and Network Department, Consular  
    2009 to 2011 FCO, Director for Diversity and Equality  
    2005 to 2009 Hanoi, Deputy Head of Mission  
    2003 to 2005 FCO, Private Secretary to the Foreign Secretary  
    2001 to 2003 FCO, Assistant Private Secretary to Junior Ministers  
    2000 to 2001 FCO, EU Policy Officer  
    1996 to 2000 Hong Kong, Vice Consul and later Vice Consul political  
    1995 to 1996 FCO, Cantonese language training  
    1993 to 1995 FCO, Joint Assistance Unit (Know How Fund)  
    1993 Joined FCO  

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

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    Published 8 May 2025

    MIL OSI United Kingdom –

    May 8, 2025

  • MIL-OSI United Nations: Lessons in service and humanity from the Red Cross and Red Crescent Movement

    Source: UNISDR Disaster Risk Reduction

    World Red Cross and Red Crescent Day – 8 May – is a fitting moment to reflect on the immense service given by Red Cross and Red Crescent societies around the world, and by their global umbrella organization, the International Federation of Red Cross and Red Crescent Societies – IFRC).

    The Red Cross and Red Crescent is arguably the most iconic socially-oriented global brand. Instantly recognizable, it represents first aid, medical and humanitarian support, community service, and unassuming, practical action in the face of crisis.

    Like so many others, I grew with this venerable Red Cross brand as part of the fabric of my community, my city and my country. But when I entered the world of disaster risk reduction, my relationship with the Red Cross and Red Crescent deepened as I engaged professionally with the people who make up the movement, working tirelessly for their National Societies all around the world.

    In my present role , I have the privilege to work closely with the IFRC and its inspirational Secretary-General, Jagan Chapagain, in steering the UN Secretary-General’s Early Warnings for All Initiative. It is a true privilege to be a partner in this vital undertaking. Fittingly, the IFRC leads the preparedness and response capabilities pillar – drawing on the deep community reach of all the National Societies (UNDRR leads the pillar for disaster risk knowledge; the World Meteorological Organization leads on detection, observation, monitoring, analysis, and forecasting; and the International Telecommunication Union on warning dissemination and communication).

    But this is far from my first experience with the Red Cross and Red Crescent Movement. Over the past three decades, I have worked side by side with Red Cross colleagues in more than two dozen countries, and with every interaction I’ve learnt something new.

    As I reflect on these experiences, a flood of memories returns:

    • Meeting Red Crescent Society of the Islamic Republic of Iran colleagues immediately after landing in Bam after the 2003 earthquake, and jointly launching IFRC and UN Flash Appeals.
    • Collaborating with IFRC colleagues (particularly Madeleen Helmer) during the establishment of the Red Cross Red Crescent Climate Centre.
    • Witnessing the birth of the Maldivian Red Crescent Society in the wake of the Indian Ocean Tsunami.
    • Supporting colleagues and friends from the Nepal Red Cross Society in developing their DP-Net (Disaster Preparedness Net) – a disaster-preparedness network that paid rich dividends in the aftermath of the 2105 Gorkha earthquake.
    • Learning from the volunteers of the Bangladesh Red Crescent Society (BDRCS), who form the bed rock of the country’s Cyclone Preparedness Programme.
    • More recently, engaging with the Vanuatu Red Cross Society, on their leading work on post-earthquake school safety in the country’s recovery.
    • And just this week, exchanging insights with the President of the Spanish Red Cross, who told me how they mobilized the response to Valencia floods. 
    Inspiring recent encounters: With Spanish Red Cross President, Maria del Mar Pageo, and with Vanuatu Red Cross President, Moses Stevens, and Vanuatu Red Cross Secretary General, Dickinson Tevi; and with IFRC Pacific Office Head, Finau Leveni. 

    My experiences are too many to recount them all. But as I reflect on their essence, three core lessons stand out:

    1. First, each interaction with the Red Cross is a humbling experience. It is a gentle invitation to step out of policy wonkishness, reminding us what this work is ultimately about: serving communities – and especially the most vulnerable. We must keep returning to this core question: ‘Are we meeting the needs of those we serve?’
    2. Second, each interaction is always the same yet different! All National Societies are guided by the same humanitarian principles, yet each is deeply rooted in its own social, cultural, and political context. Their organizers and volunteers come from the communities they serve –giving them a superpower of local engagement and impact.
    3. And finally, the Red Cross and Red Crescent Movement shows that voices for societal change don’t always have to be shrill. As auxiliary institutions that work alongside governments – but on their own principled terms – Red Cross and Red Crescent Societies are unique. They get a lot done quietly and unassumingly, and as a result can often operate in contexts where most other assistance providers struggle to gain access.

    On this World Red Cross and Red Crescent Day, I offer my heartfelt congratulations – and thanks – to all my colleagues and friends in the Movement. I’m deeply grateful for the chance to work alongside you.

    MIL OSI United Nations News –

    May 8, 2025

  • MIL-OSI Asia-Pac: Tender of one-year HONIA-indexed Floating Rate Notes to be held on May 14

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

    ​The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (May 8) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Infrastructure Bond Programme will be held on Wednesday, May 14, 2025, for settlement on Thursday, May 15, 2025.

    A total of HK$1.5 billion 1-year HKD Notes will be tendered. The Notes will mature on May 15, 2026 and will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly in arrear.

    Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Notes on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof. 

    Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK ) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.

    HKSAR Institutional Government Bonds tender information

    Tender information of 1-year HONIA-indexed Floating Rate Notes:
     

    Issue Number : 01GH2605001
    Stock Code : 4292 (HKGB FRN 2605)
    Tender Date and Time : Wednesday, May 14, 2025
    9.30am to 10.30am
    Issue and Settlement Date : Thursday, May 15, 2025
    Amount on Offer : HK$1.5 billion
    Issue Price : At par
    Maturity : 1 year
    Maturity Date : Friday, May 15, 2026
    Interest Rate : Indexed to the sum of the annualised compounded average of daily HONIA in each interest period and the highest accepted spread at tender, subject to a minimum of 0 per cent per interest period. Details on calculation of interest rate are available at the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website.
    Interest Period End Dates : August 15, 2025
    November 17, 2025
    February 16, 2026
    May 15, 2026
    Interest Payment Dates : August 19, 2025
    November 19, 2025
    February 18, 2026
    May 19, 2026
    Method of Tender : Competitive tender
    Tender Amount : Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Notes must be submitted through a Primary Dealer on the latest published list.
    Other Details : Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers.
    Expected commencement date of dealing on
    the Stock Exchange
    of Hong Kong Limited    		 : Friday, May 16, 2025
    Use of Proceeds : The Notes will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website.

    MIL OSI Asia Pacific News –

    May 8, 2025

  • MIL-OSI Asia-Pac: Tender of 5-year HKD HKSAR Institutional Government Bonds to be held on May 14

    Source: Hong Kong Government special administrative region

    Tender of 5-year HKD HKSAR Institutional Government Bonds to be held on May 14 

    CategoriesMIL-OSI

    Post navigation

    Issue Number9.30 am to 10.30 amthe Stock Exchange
    of Hong Kong Limited 
     Issued at HKT 18:51

    NNNN

    MIL OSI Asia Pacific News –

    May 8, 2025

  • MIL-OSI Asia-Pac: Tender for re-opening of 15-year HKD HKSAR Institutional Government Bonds to be held on May 14

    Source: Hong Kong Government special administrative region

    Tender for re-opening of 15-year HKD HKSAR Institutional Government Bonds to be held on May 14 
    An additional amount of HK$0.5 billion of the outstanding 15-year Bonds (issue no. 15GB3912001) will be on offer. The Bonds will mature on December 5, 2039 and will carry interest at the rate of 3.75 per cent per annum payable semi-annually in arrear. The Indicative Pricings of the Bonds on May 8, 2025 are 104.23 with an annualised yield of 3.409 per cent.
     
    Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk 
    Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK ) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
     
    HKSAR Institutional Government Bonds Tender Information 

    Categories

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    Issue Number9.30am to 10.30amThe accrued interest to be paid by successful bidders on the issue date (May 15, 2025) for the tender amount is 827.05 per minimum denomination of HK$50,000.
    (The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding).
     the Stock Exchange
    of Hong Kong LimitedIssued at HKT 18:50

    NNNN

    MIL OSI Asia Pacific News –

    May 8, 2025

  • MIL-OSI China: Philippines should stop offending China’s core interests in any form: Defense Spokesperson 2025-05-08 17:58:59 “We sternly warn the Philippine side to cease its infringements and provocations, and stop offending China’s core interests in any form,” said Chinese defense spokesperson Zhang Xiaogang at a press brief on Thursday.

    Source: People’s Republic of China – Ministry of National Defense

      BEIJING, May 8 –“We sternly warn the Philippine side to cease its infringements and provocations,  and stop offending China’s core interests in any form,” said Chinese defense spokesperson Zhang Xiaogang at a press brief on Thursday.

      It is reported that during the Philippines-US “Balikatan” exercise, the Chinese aircraft carrier Shandong appeared in the waters to the north of the Philippines. Some analysts believe this might be a response to the Philippines-US military exercise, or to the Philippine patrol vessel’s entering into the waters near Huangyan Dao. Furthermore, the Philippine Navy spokesperson claimed that the Philippine military and the troops in Taiwan are only one step away from holding joint exercise.

      In response to a related query, Snr. Col. Zhang Xiaogang said that the Shandong aircraft carrier task group was conducting its annual training mission in relevant waters to further test and enhance the integrated combat capabilities of the carrier task group. It is in accordance with international law and common practice, and is not directed at any specific country or target.

      The spokesperson pointed out that certain individuals in the Philippines are colluding with external forces, such as the US, to “stir up the sea” for selfish gains, undermining peace and stability in the South China Sea region. They even attempt to play with fire on the Taiwan question.

      “We sternly warn the Philippine side to cease its infringements and provocations, and stop offending China’s core interests in any form. China will continue to take resolute and forceful measures to defend its territorial sovereignty and maritime rights and interests,” said Snr. Col. Zhang Xiaogang.

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    MIL OSI China News –

    May 8, 2025

  • MIL-OSI China: Xi says China, Russia to shoulder special responsibility as major countries 2025-05-08 18:37:20 China will work with Russia to shoulder the special responsibility as major countries of the world and permanent members of the UN Security Council, Chinese President Xi Jinping said here Thursday.

    Source: People’s Republic of China – Ministry of National Defense

      MOSCOW, May 8 (Xinhua) — China will work with Russia to shoulder the special responsibility as major countries of the world and permanent members of the UN Security Council, Chinese President Xi Jinping said here Thursday.

      Xi made the remarks while holding talks with Russian President Vladimir Putin during his state visit to Russia.

      At present, in the face of the countercurrent of unilateralism and the act of power politics and bullying in the world, the two sides should take a clear stand to jointly promote the correct historical perspective on World War II, safeguard the authority and status of the United Nations, resolutely defend the rights and interests of China, Russia and the vast number of developing countries, and promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, Xi said.

      Noting that he was glad to visit Russia again at the invitation of Putin and attend the celebrations marking the 80th anniversary of the Victory in the Soviet Union’s Great Patriotic War, Xi said that history and reality have fully proved that continuing to develop and deepen China-Russia relations is integral to carrying forward the friendship between the two peoples from generation to generation.

      It is an inevitable choice for both sides to achieve mutual success and promote their own development and revitalization, Xi said, adding that it is also the call of the times for safeguarding international fairness and justice and promoting the reform of the global governance system.

      Noting that this year marks the 80th anniversary of the victories of the Chinese People’s War of Resistance against Japanese Aggression, the Soviet Union’s Great Patriotic War and the World Anti-Fascist War, Xi said that 80 years ago, peoples of China and Russia made tremendous sacrifices and won great victories, making remarkable historic contributions to maintaining world peace and the cause of human progress. 

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    MIL OSI China News –

    May 8, 2025

  • MIL-OSI Economics: RBI imposes monetary penalty on The Jammu Central Co-operative Bank Ltd., Jammu and Kashmir

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated May 06, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Jammu Central Co-operative Bank Ltd., Jammu and Kashmir (the bank) for non-compliance with specific directions issued by RBI under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). 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 BR Act.

    The statutory inspection of the bank was conducted by National Bank for Agriculture and Rural Development (NABARD) 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 and 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 accepted fresh deposits in savings bank accounts in violation of specific directions issued by RBI.

    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: 2025-2026/282

    MIL OSI Economics –

    May 8, 2025

  • MIL-OSI Asia-Pac: Fraudulent website and internet banking login screen related to DBS Bank (Hong Kong) Limited

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

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

    MIL OSI Asia Pacific News –

    May 8, 2025

  • MIL-OSI Asia-Pac: Speech by SCED at 6G Global Summit 2025 (English only)

    Source: Hong Kong Government special administrative region

    Speech by SCED at 6G Global Summit 2025 (English only) 
    Mr Kondo (Secretary General of the Asia-Pacific Telecommunity, Mr Masanori Kondo), Mr Macfarlane (Chief Executive Officer of Forum Global, Mr Bruce Macfarlane), distinguished guests, our friends and partners from the global telecommunications community, ladies and gentlemen,
     
         Good morning. It is a great pleasure to welcome you all today at the 6G Global Summit 2025, hosted for the very first time here in the Asia-Pacific region.
     
    The 6G Global Summit
     
         This Summit marks a pivotal moment for the global telecommunications industry. While 5G has been a progressive step in the history of telecommunications development, delivering faster data speeds, lower latency, and wider coverage, the rapid pace of technological advancements compels us to think ahead and look beyond 5G, to prepare for the next transformative leap to 6G.
     
         This is why we are all here today, thinking ahead of what 6G exactly is – the technology and standardisation; what 6G will bring about – the potentials and benefits, and how it will transform or even reform our industry and society; and when will it happen; as well as what we need to prepare for the underlying challenges, such as the sustainability and accessibility of the technology. In the next two days, with hundreds of experts and top industry leaders here, in person and online, I am sure that we would be able to come up with brilliant ideas through fruitful discussions and exchanges in this Summit, which will shape the future of connectivity for the years to come.
     
    Hong Kong, a pioneer in telecommunications technology
     
         Being able to host the 6G Global Summit for the first time ever in Hong Kong not only reflects our city’s long-standing stature as a global and regional telecommunications hub, it also underscores our commitment to driving innovation and fostering collaboration in this transformative field. Hong Kong is uniquely positioned to play a leading role in the development of 6G.
     
         Our city’s telecommunications market is one of the most advanced and dynamic in the world, with a proven track record of embracing innovation and driving connectivity. Allow me to share some highlights that showcase Hong Kong’s readiness to contribute to the global 6G journey. Since the full liberalisation of our telecommunications market in 2003, we have successfully created a level playing field that encourages competition, growth and innovation, enabling our citizens to enjoy a wide range of world-class telecommunications infrastructure and services. Hong Kong has already achieved territory-wide 5G coverage with about 8 million users, representing over 105 per cent of the population last year. Our 5G availability ranks first in the Asia-Pacific region. With our extensive network infrastructure, our fibre-to-the-home or building penetration rate is around 90 per cent, placing us in the top five globally according to a report issued by the Fibre to the Home Council Europe in March 2025. This robust infrastructure serves as a strong foundation for 6G deployment and reflects our ability to support cutting-edge applications and services. We also lead the world in mobile voice affordability, rank second globally in mobile broadband affordability and seventh in fixed broadband affordability, ensuring our telecommunications services are affordable and accessible to all. These achievements are not just about numbers; they also reflect our readiness to embrace the future of telecommunications.
     
    HKSARG’s commitment to innovation and 6G development
     
         Notwithstanding the above accomplishments, we will not be complacent or stop there. The Government of the Hong Kong Special Administrative Region (HKSARG) is fully committed to fostering a conducive environment that drives technological advancement and prepares us for the 6G era. In this regard, we are already planning ahead and taking concrete action to embrace 6G development. To name a few, we became the first city in the world to auction radio spectrum in the 6/7 GHz band last November, which is a critical step in preparing for the deployment of 6G mobile communications services, demonstrating our proactive approach to adopt and enable the next-generation technologies.
     
         Our major mobile network operators in Hong Kong have already actively commenced testing and successfully validating 5G-Advanced, commonly known as 5.5G, network in various applications, for example, in large-scale drone shows, world class sport events, etc. Such technology allows us to create a smarter connected network, facilitate businesses in monitoring operations in real-time, share data more efficiently, and analyse collected images and information through advanced platforms.
     
         We also see great potential in developing low-altitude economy, with its wide applicability in different areas and various industries, thereby injecting new impetus into Hong Kong’s economy. The success of this initiative requires sound infrastructure, particularly a comprehensive, stable and efficient communications network. As Hong Kong is well covered by 5G network and progressing into 5.5G as mentioned just now, the city is well-positioned to support this development. We are also proactively exploring further facilitation measures from a telecommunications perspective to support the development of low-altitude economy.
     
         Beyond terrestrial networks, we see Low Earth Orbit (LEO) satellites as a game-changer in telecommunications. With their low latency, high transmission rates and cost efficiency, LEO satellites are transforming industries worldwide. To strengthen Hong Kong’s competitiveness in this field, the Government is conducting a study to streamline relevant licensing procedures for LEO satellites, with a view to attracting global operators, talent and investment to establish Hong Kong as a hub for satellite innovation. Recently, we have also seen exciting collaboration between LEO satellite operators and our mobile network operators on satellite-mobile connectivity. This is all happening in Hong Kong, and we welcome our partners from the Mainland and other parts of the world to join us in transforming new telecommunications technology into promising innovative applications that enhance the quality of life, thereby benefitting the general public as a whole.
     
         We will spare no effort in continuing our betterment to create an ideal environment to embrace the 6G era. To turn excellence into perfection, achieving this vision will require collaboration on a global scale. Platforms like the 6G Global Summit are essential for uniting brilliant minds from around the world, fostering innovation, and collectively shaping the future of telecommunications.
     
    Closing remarks
     
         Today’s Summit is a testament to the critical role that collaboration plays in driving the future of telecommunications. As we gather here today, let us not forget the importance of collaboration. The development of 6G will require unprecedented partnerships, including governments, industries, academia, and organisations like those present here today must work hand in hand to ensure that 6G networks are inclusive, sustainable and transformative.
     
         Hong Kong is proud to play a pivotal role in this transformative journey. Hosting this inaugural 6G Global Summit in the Asia-Pacific region reflects our city’s commitment to innovation and collaboration. It is through gatherings like this that we can spark bold ideas and partnerships to shape the future of connectivity for generations to come.
     
         Today, we are honoured to welcome over 600 guests from around the globe. Your presence is the key to the success of the Summit. I hope you could also take a moment to enjoy what Hong Kong has to offer. Wishing you all a pleasant stay in Hong Kong. Thank you.
    Issued at HKT 10:27

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    May 8, 2025

  • MIL-OSI Asia-Pac: Appeal for information on missing man in Lantau North (with photo)

    Source: Hong Kong Government special administrative region

    Appeal for information on missing man in Lantau North (with photo) 
    LAW Siu-hang, aged 70, went missing after he left his residence in Yat Tung Estate on May 2 morning. His family made a report to Police yesterday (May 7).
     
    He is about 1.5 metres tall, 60 kilograms in weight and of thin build. He has a pointed face with yellow complexion and long white hair, and with tattoos on his abdomen and arms. He was last seen wearing a blue vest jacket, apricot trousers and white flip flops.
     
    Anyone who knows the whereabouts of the missing man or may have seen him is urged to contact the Regional Missing Persons Unit of New Territories South on 3661 1176 or 9689 6212 or email to rmpu-nts-2@police.gov.hk, or contact any police station.
    Issued at HKT 16:15

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    May 8, 2025

  • MIL-OSI Asia-Pac: Chief Executive approves chairmanship of HKEX

    Source: Hong Kong Government special administrative region

    Chief Executive approves chairmanship of HKEX 
         The approval was made under the Securities and Futures Ordinance (SFO) (Cap. 571). The conclusion of Mr Tong’s chairmanship will coincide with the completion of his term of appointment as a member of the Board of Directors of the HKEX at the end of the 2027 Annual General Meeting of the HKEX.
     
         The Financial Secretary, Mr Paul Chan, said, “Under the leadership of Mr Tong, the HKEX took forward various reforms, including enhancing the listing vetting process, implementing the specialist technology listing channel, establishing the Technology Enterprises Channel, and launching the trading arrangement under severe weather. I am confident that with Mr Tong’s leadership, the HKEX will continuously  
         Mr Tong was re-elected as Chairman of the HKEX by the directors at the board meeting on April 30, 2025. The HKEX is a recognised exchange controller under the SFO. Section 69(1) of the SFO provides that no person shall be the chairman of a company which is a recognised exchange controller unless he has the approval in writing of the Chief Executive.
    Issued at HKT 18:18

    NNNN

    CategoriesMIL-OSI

    MIL OSI Asia Pacific News –

    May 8, 2025

  • MIL-OSI Asia-Pac: Government posts notice of land acquisition for public housing development near Chai Wan Swimming Pool, Chai Wan

    Source: Hong Kong Government special administrative region

         The Lands Department today (May 8) posted a notice in accordance with section 4 of the Land Acquisition (Possessory Title) Ordinance (Chapter 130) for the acquisition of land for a public housing development near Chai Wan Swimming Pool, Chai Wan.

         The land with an area of about 23 square metres will be acquired. The said land will vest in the Government upon the expiry of a period of three months from the date of affixing the notice (i.e. August 9).

         The Government will closely liaise with the affected parties and handle compensation matters.

         The public housing development near Chai Wan Swimming Pool, Chai Wan, will provide about 2 700 public housing units with the earliest population intake anticipated in 2034.

    MIL OSI Asia Pacific News –

    May 8, 2025
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