Source: People’s Republic of China – State Council News
New International Land-Sea Trade Corridor boosts development of mechanical equipment industry
Category: Asia
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MIL-OSI China: New International Land-Sea Trade Corridor boosts development of mechanical equipment industry
A staff member conducts performance test on an excavator at an equipment manufacturing company in southwest China’s Chongqing Municipality, April 21, 2025. Launched in 2017, the New International Land-Sea Trade Corridor is a trade and logistics passage jointly built by provincial-level regions in western China and ASEAN members. In recent years, along with the development of the New International Land-Sea Trade Corridor, equipment manufacturing companies in China’s western regions have sped up digital and intelligent transformation, as a way to boost high-quality development of companies themselves as well as assist the building of the corridor with better mechanical equipment. According to statistics, as of early March, the New International Land-Sea Trade Corridor’s cargo services connect 158 locations across 73 domestic cities and reach 556 ports in 127 countries and regions. [Photo/Xinhua] Customs officers inspect loaders for export to Vietnam at the port of the Friendship Pass in Pingxiang, south China’s Guangxi Zhuang Autonomous Region, March 17, 2025. [Photo/Xinhua] An aerial drone photo taken on March 21, 2025 shows loaders for export to Vietnam in Guangxi Pingxiang Integrated Free Trade Zone in Pingxiang, south China’s Guangxi Zhuang Autonomous Region. [Photo/Xinhua] Staff members work on an assembly line of excavators for export to Laos and Myanmar at an equipment manufacturing company in southwest China’s Chongqing Municipality, April 21, 2025. [Photo/Xinhua] An aerial drone photo taken on March 21, 2025 shows trucks loaded with equipment for export to Vietnam in Guangxi Pingxiang Integrated Free Trade Zone in Pingxiang, south China’s Guangxi Zhuang Autonomous Region. [Photo/Xinhua] A staff member works on a production line of loaders at an equipment manufacturing company in Liuzhou, south China’s Guangxi Zhuang Autonomous Region, March 11, 2025. [Photo/Xinhua] A staff member conducts test at an equipment manufacturing company in Liuzhou, south China’s Guangxi Zhuang Autonomous Region, March 12, 2025. [Photo/Xinhua] A staff member verifies the information of machine parts for export to Qatar at a logistics center in Liuzhou, south China’s Guangxi Zhuang Autonomous Region, March 12, 2025. [Photo/Xinhua] -
MIL-OSI Security: Colbert County Man Arrested for Failure to Register in the State of Alabama as a Sex Offender
Source: Office of United States Attorneys
HUNTSVILLE, Ala. – A Colbert County man has been charged for violating the Sex Offender Registration and Notification Act, announced U.S. Attorney Prim F. Escalona and United States Marshal Martin Keely.
A one-count indictment filed in U.S. District Court charges Michael Shane McDaniel, 56, of Plainfield, Indiana, with failing to register or update his registration as required by the Sex Offender Registration and Notification Act (SORNA). McDaniel was convicted of child molestation in the Marion Superior Court in Indianapolis, Indiana, and required to register as a sex offender under SORNA. Following this conviction, McDaniel travelled across state lines from Indiana to Alabama and did not register as a sex offender. McDaniel was arrested on April 16, 2025, in Colbert County, Alabama. McDaniel will be detained and held in federal custody pending disposition of this case.
The Adam Walsh Child Protection and Safety Act of 2006 implemented SORNA and established a comprehensive national system for the registration of sex offenders. The Act requires anyone convicted of specified crimes to register with the national sex offender registry. It is a federal felony offense for sex offenders to travel to another state and fail to register. Federal violations of SORNA can result in imprisonment for up to 10 years.
The U.S. Marshals Service for the Northern District of Alabama investigated the case along with the U.S. Marshals Service for the Southern District of Indiana, the U.S. Marshals Service Gulf Coast Regional Fugitive Task Force, the Hendricks County, Indiana Sheriff’s Office, and the Colbert County, Alabama Sheriff’s Office. Assistant U.S. Attorney R. Leann White is prosecuting the case.
The case was brought as part of Project Safe Childhood, a nationwide initiative launched by the Department of Justice in May 2006 to combat the growing epidemic of child sexual exploitation and abuse. Led by U.S. Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section (CEOS), Project Safe Childhood marshals federal, state, and local resources to better locate, apprehend, and prosecute individuals who exploit children via the Internet, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.projectsafechildhood.gov.
An indictment contains only charges. A defendant is presumed innocent unless and until proven guilty.
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MIL-OSI: First Financial Corporation Reports First Quarter Results
Source: GlobeNewswire (MIL-OSI)
TERRE HAUTE, Ind., April 22, 2025 (GLOBE NEWSWIRE) — First Financial Corporation (NASDAQ:THFF) today announced results for the first quarter of 2025.
- Net income was $18.4 million compared to $10.9 million reported for the same period of 2024;
- Diluted net income per common share of $1.55 compared to $0.93 for the same period of 2024;
- Return on average assets was 1.34% compared to 0.91% for the three months ended March 31, 2024;
- Credit loss provision was $2.0 million compared to provision of $1.8 million for the first quarter 2024; and
- Pre-tax, pre-provision net income was $25.7 million compared to $14.9 million for the same period in 2024.1
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1Non-GAAP financial measure that Management believes is useful for investors and management to understand pre-tax profitability before giving effect to credit loss expense and to provide additional perspective on the Corporation’s performance over time as well as comparison to the Corporation’s peers and evaluating the financial results of the Corporation – please refer to the Non GAAP reconciliations contained in this release.Average Total Loans
Average total loans for the first quarter of 2025 were $3.84 billion versus $3.18 billion for the comparable period in 2024, an increase of $662 million or 20.80%. On a linked quarter basis, average loans increased $51 million or 1.35% from $3.79 billion as of December 31, 2024. Increases in average loans year-over-year were a combination of the acquisition of SimplyBank on July 1, 2024, and organic growth.
Total Loans Outstanding
Total loans outstanding as of March 31, 2025, were $3.85 billion compared to $3.19 billion as of March 31, 2024, an increase of $662 million or 20.74%. On a linked quarter basis, total loans increased $16.9 million or 0.44% from $3.84 billion as of December 31, 2024. The year-over-year increase was impacted by the $467 million in loans acquired in the SimplyBank acquisition in July 2024. Organic growth was primarily driven by increases in Commercial Construction and Development, Commercial Real Estate, and Consumer Auto loans.
Norman D. Lowery, President and Chief Executive Officer, commented “We have had six consecutive quarters of loan growth and have had another record quarter of net interest income. Our net interest margin has also continued to expand. We believe we are well positioned with our strong balance sheet, stable credit quality, and strong capital levels for continued growth.”
Average Total Deposits
Average total deposits for the quarter ended March 31, 2025, were $4.65 billion versus $4.05 billion as of March 31, 2024, an increase of $605 million, or 14.95%. Increases in average deposits year-over-year were mostly a result of the acquisition of SimplyBank.
Total Deposits
Total deposits were $4.64 billion as of March 31, 2025, compared to $4.11 billion as of March 31, 2024. $622 million in deposits were acquired in the SimplyBank acquisition in July 2024. Non-interest bearing deposits were $856 million, and time deposits were $726 million as of March 31, 2025, compared to $738 million and $581 million, respectively for the same period of 2024.
Shareholders’ Equity
Shareholders’ equity at March 31, 2025, was $571.9 million compared to $520.8 million on March 31, 2024. During the last twelve months, the Corporation has not repurchased any shares of its common stock. 518,860 shares remain available for repurchase under the current repurchase authorization. The Corporation paid a $0.51 per share quarterly dividend in January and declared a $0.51 quarterly dividend, which was paid on April 15, 2025.
Book Value Per Share
Book Value per share was $48.26 as of March 31, 2025, compared to $44.08 as of March 31, 2024, an increase of $4.18 per share, or 9.49%. Tangible Book Value per share was $38.13 as of March 31, 2025, compared to $36.26 as of March 31, 2024, an increase of $1.87 per share or 5.16%.
Tangible Common Equity to Tangible Asset Ratio
The Corporation’s tangible common equity to tangible asset ratio was 8.32% at March 31, 2025, compared to 9.00% at March 31, 2024.
Net Interest Income
Net interest income for the first quarter of 2025 was a record $52.0 million, compared to $38.9 million reported for the same period of 2024, an increase of $13.1 million, or 33.5%. Interest income increased $13.6 million and interest expense increased $574 thousand year over year.
Net Interest Margin
The net interest margin for the quarter ended March 31, 2025, was 4.11% compared to the 3.53% reported at March 31, 2024.
Nonperforming Loans
Nonperforming loans as of March 31, 2025, were $10.2 million versus $24.3 million as of March 31, 2024. The ratio of nonperforming loans to total loans and leases was 0.26% as of March 31, 2025, versus 0.76% as of March 31, 2024. On a linked quarter basis, nonperforming loans were $13.3 million, and the ratio of nonperforming loans to total loans and leases was 0.35% as of December 31, 2024.
Credit Loss Provision
The provision for credit losses for the three months ended March 31, 2025, was $2.0 million, compared to $1.8 million for the same period 2024.
Net Charge-Offs
In the first quarter of 2025 net charge-offs were $1.8 million compared to $1.5 million in the same period of 2024.
Allowance for Credit Losses
The Corporation’s allowance for credit losses as of March 31, 2025, was $46.8 million compared to $40.0 million as of March 31, 2024. The allowance for credit losses as a percent of total loans was 1.22% as of March 31, 2025, compared to 1.25% as of March 31, 2024. On a linked quarter basis, the allowance for credit losses as a percent of total loans was unchanged from December 31, 2024.
Non-Interest Income
Non-interest income for the three months ended March 31, 2025 and 2024 was $10.5 million and $9.4 million, respectively.
Non-Interest Expense
Non-interest expense for the three months ended March 31, 2025, was $36.8 million compared to $33.4 million in 2023.
Efficiency Ratio
The Corporation’s efficiency ratio was 57.54% for the quarter ending March 31, 2025, versus 67.21% for the same period in 2024.
Income Taxes
Income tax expense for the three months ended March 31, 2025, was $5.4 million versus $2.2 million for the same period in 2024. The effective tax rate for 2025 was 22.59% compared to 16.79% for 2024.
About First Financial Corporation
First Financial Corporation (NASDAQ:THFF) is the holding company for First Financial Bank N.A., which is the fifth oldest national bank in the United States, operating 83 banking centers in Illinois, Indiana, Kentucky, Tennessee, and Georgia. Additional information is available at www.first-online.bank.
Investor Contact:
Rodger A. McHargue
Chief Financial Officer
P: 812-238-6334
E: rmchargue@first-online.comThree Months Ended March 31, December 31, March 31, 2025 2024 2024 END OF PERIOD BALANCES Assets $ 5,549,094 $ 5,560,348 $ 4,852,615 Deposits $ 4,640,003 $ 4,718,914 $ 4,105,103 Loans, including net deferred loan costs $ 3,854,020 $ 3,837,141 $ 3,191,983 Allowance for Credit Losses $ 46,835 $ 46,732 $ 40,045 Total Equity $ 571,945 $ 549,041 $ 520,766 Tangible Common Equity (a) $ 451,874 $ 427,470 $ 428,430 AVERAGE BALANCES Total Assets $ 5,508,767 $ 5,516,036 $ 4,804,364 Earning Assets $ 5,194,478 $ 5,196,352 $ 4,566,461 Investments $ 1,266,300 $ 1,311,415 $ 1,308,322 Loans $ 3,841,752 $ 3,790,515 $ 3,180,147 Total Deposits $ 4,650,883 $ 4,757,438 $ 4,045,838 Interest-Bearing Deposits $ 3,837,679 $ 3,925,740 $ 3,326,090 Interest-Bearing Liabilities $ 261,174 $ 134,553 $ 221,425 Total Equity $ 564,742 $ 556,330 $ 522,720 INCOME STATEMENT DATA Net Interest Income $ 51,975 $ 49,602 $ 38,920 Net Interest Income Fully Tax Equivalent (b) $ 53,373 $ 50,985 $ 40,297 Provision for Credit Losses $ 1,950 $ 2,000 $ 1,800 Non-interest Income $ 10,511 $ 12,213 $ 9,431 Non-interest Expense $ 36,759 $ 39,801 $ 33,422 Net Income $ 18,406 $ 16,241 $ 10,924 PER SHARE DATA Basic and Diluted Net Income Per Common Share $ 1.55 $ 1.37 $ 0.93 Cash Dividends Declared Per Common Share $ 0.51 $ 0.51 $ 0.45 Book Value Per Common Share $ 48.26 $ 46.36 $ 44.08 Tangible Book Value Per Common Share (c) $ 38.13 $ 36.77 $ 36.26 Basic Weighted Average Common Shares Outstanding 11,842 11,824 11,803 ________________________
(a) Tangible common equity is a non-GAAP financial measure derived from GAAP-based amounts. We calculate tangible common equity by excluding goodwill and other intangible assets from shareholder’s equity.
(b) Net interest income fully tax equivalent is a non-GAAP financial measure derived from GAAP-based amounts. We calculate net interest income fully tax equivalent by adding back the tax equivalent factor of tax exempt income to net interest income. We calculate the tax equivalent factor of tax exempt income by dividing tax exempt income by the net of tax rate of 75%.
(c) Tangible book value per common share is a non-GAAP financial measure derived from GAAP-based amounts. We calculate the factor by dividing average tangible common equity by average shares outstanding. We calculate average tangible common equity by excluding average intangible assets from average shareholder’s equity.Key Ratios Three Months Ended March 31, December 31, March 31, 2025 2024 2024 Return on average assets 1.34 % 1.18 % 0.91 % Return on average common shareholder’s equity 13.04 % 11.68 % 8.36 % Efficiency ratio 57.54 % 62.98 % 67.21 % Average equity to average assets 10.25 % 10.09 % 10.88 % Net interest margin (a) 4.11 % 3.94 % 3.53 % Net charge-offs to average loans and leases 0.19 % 0.15 % 0.19 % Credit loss reserve to loans and leases 1.22 % 1.22 % 1.25 % Credit loss reserve to nonperforming loans 460.57 % 351.37 % 165.12 % Nonperforming loans to loans and leases 0.26 % 0.35 % 0.76 % Tier 1 leverage 10.63 % 10.38 % 12.02 % Risk-based capital – Tier 1 12.70 % 12.43 % 14.69 % ________________________
(a) Net interest margin is calculated on a tax equivalent basis.Asset Quality Three Months Ended March 31, December 31, March 31, 2025 2024 2024 Accruing loans and leases past due 30-89 days $ 17,007 $ 22,486 $ 17,937 Accruing loans and leases past due 90 days or more $ 1,109 $ 1,821 $ 1,395 Nonaccrual loans and leases $ 9,060 $ 11,479 $ 22,857 Other real estate owned $ 560 $ 523 $ 167 Nonperforming loans and other real estate owned $ 10,729 $ 13,823 $ 24,419 Total nonperforming assets $ 13,631 $ 16,719 $ 27,307 Gross charge-offs $ 3,241 $ 3,070 $ 3,192 Recoveries $ 1,394 $ 1,633 $ 1,670 Net charge-offs/(recoveries) $ 1,847 $ 1,437 $ 1,522 Non-GAAP Reconciliations Three Months Ended March 31, 2025 2024 ($in thousands, except EPS) Income before Income Taxes $ 23,777 $ 13,129 Provision for credit losses 1,950 1,800 Provision for unfunded commitments — — Pre-tax, Pre-provision Income $ 25,727 $ 14,929 CONSOLIDATED BALANCE SHEETS
(Dollar amounts in thousands, except per share data)March 31, December 31, 2025 2024 (unaudited) ASSETS Cash and due from banks $ 86,211 $ 93,526 Federal funds sold 427 820 Securities available-for-sale 1,182,495 1,195,990 Loans: Commercial 2,208,426 2,196,351 Residential 966,521 967,386 Consumer 673,751 668,058 3,848,698 3,831,795 (Less) plus: Net deferred loan costs 5,322 5,346 Allowance for credit losses (46,835 ) (46,732 ) 3,807,185 3,790,409 Restricted stock 17,528 17,555 Accrued interest receivable 25,556 26,934 Premises and equipment, net 80,317 81,508 Bank-owned life insurance 129,410 128,766 Goodwill 100,026 100,026 Other intangible assets 20,045 21,545 Other real estate owned 560 523 Other assets 99,334 102,746 TOTAL ASSETS $ 5,549,094 $ 5,560,348 LIABILITIES AND SHAREHOLDERS’ EQUITY Deposits: Non-interest-bearing $ 856,063 $ 859,014 Interest-bearing: Certificates of deposit exceeding the FDIC insurance limits 145,609 144,982 Other interest-bearing deposits 3,638,331 3,714,918 4,640,003 4,718,914 Short-term borrowings 137,609 187,057 FHLB advances 124,898 28,120 Other liabilities 74,639 77,216 TOTAL LIABILITIES 4,977,149 5,011,307 Shareholders’ equity Common stock, $.125 stated value per share; Authorized shares-40,000,000 Issued shares-16,190,157 in 2025 and 16,165,023 in 2024 Outstanding shares-11,850,645 in 2025 and 11,842,539 in 2024 2,019 2,018 Additional paid-in capital 146,159 145,927 Retained earnings 699,729 687,366 Accumulated other comprehensive income/(loss) (121,182 ) (132,285 ) Less: Treasury shares at cost-4,339,512 in 2025 and 4,322,484 in 2024 (154,780 ) (153,985 ) TOTAL SHAREHOLDERS’ EQUITY 571,945 549,041 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 5,549,094 $ 5,560,348 CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Dollar amounts in thousands, except per share data)Three Months Ended March 31, 2025 2024 INTEREST INCOME: Loans, including related fees $ 63,612 $ 50,052 Securities: Taxable 6,002 5,931 Tax-exempt 2,604 2,603 Other 814 817 TOTAL INTEREST INCOME 73,032 59,403 INTEREST EXPENSE: Deposits 18,199 17,731 Short-term borrowings 1,693 976 Other borrowings 1,165 1,776 TOTAL INTEREST EXPENSE 21,057 20,483 NET INTEREST INCOME 51,975 38,920 Provision for credit losses 1,950 1,800 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 50,025 37,120 NON-INTEREST INCOME: Trust and financial services 1,393 1,333 Service charges and fees on deposit accounts 7,585 6,708 Other service charges and fees 316 223 Interchange income 214 179 Loan servicing fees 165 269 Gain on sales of mortgage loans 225 176 Other 613 543 TOTAL NON-INTEREST INCOME 10,511 9,431 NON-INTEREST EXPENSE: Salaries and employee benefits 19,248 17,330 Occupancy expense 2,676 2,359 Equipment expense 4,505 4,144 FDIC Expense 750 662 Other 9,580 8,927 TOTAL NON-INTEREST EXPENSE 36,759 33,422 INCOME BEFORE INCOME TAXES 23,777 13,129 Provision for income taxes 5,371 2,205 NET INCOME 18,406 10,924 OTHER COMPREHENSIVE INCOME (LOSS) Change in unrealized gains/(losses) on securities, net of reclassifications and taxes 11,100 (11,096 ) Change in funded status of post retirement benefits, net of taxes 3 73 COMPREHENSIVE INCOME (LOSS) $ 29,509 $ (99 ) PER SHARE DATA Basic and Diluted Earnings per Share $ 1.55 $ 0.93 Weighted average number of shares outstanding (in thousands) 11,842 11,803 -
MIL-OSI Global: AI is inherently ageist. That’s not just unethical – it can be costly for workers and businesses
Source: The Conversation – UK – By Sajia Ferdous, Lecturer in Organisational Behaviour, Queen’s Business School, Queen’s University Belfast
The world is facing a “silver tsunami” – an unprecedented ageing of the global workforce. By 2030, more than half of the labour force in many EU countries will be aged 50 or above. Similar trends are emerging across Australia, the US and other developed and developing economies.
Far from being a burden or representing a crisis, the ageing workforce is a valuable resource – offering a so-called “silver dividend”. Older workers often offer experience, stability and institutional memory. Yet, in the rush to embrace artificial intelligence (AI), older workers can be left behind.
One common misconception is that older people are reluctant to adopt technology or cannot catch up. But this is far from the truth. It oversimplifies the complexity of their abilities, participation and interests in the digital environments.
There are much deeper issues and structural barriers at play. These include access and opportunity – including a lack of targeted training. Right now, AI training tends to be targeted at early or mid-career workers.
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There are also confidence gaps among older people stemming from workplace cultures that can feel exclusionary. Data shows that older professionals are more hesitant to use AI – possibly due to fast-paced work environments that reward speed over judgment or experience.
There can also be issues with the design of tech systems. They are built primarily by and for younger users. Voice assistants often fail to recognise older voices, and fintech apps assume users are comfortable linking multiple accounts or navigating complex menus. This can alienate workers with legitimate security concerns or cognitive challenges.
And all these issues are exacerbated by socio-demographic factors. Older people living alone or in rural areas, with lower education levels or who are employed in manual labour, are significantly less likely to use AI.
Workers employed in manual professions can face bigger barriers when it comes to gaining AI skills.
Andrey_Popov/ShutterstockAgeism has long shaped hiring, promotion and career development. Although age has become a protected characteristic in UK law, ageist norms and practices persist in many not-so-subtle forms.
Ageism can affect both young and old, but when it comes to technology, the impact is overwhelmingly skewed against older people.
So-called algorithmic ageism in AI systems – exclusion based on automation rather than human decision-making – often exacerbates ageist biases.
Hiring algorithms often end up favouring younger employees. And digital interfaces that assume tech fluency are another example of exclusionary designs. Graduation dates, employment gaps, and even the language used in CVs can become proxies for age and filter out experienced candidates without any human review.
Tech industry workers are overwhelmingly young. Homogenous thinking breeds blind spots, so products work brilliantly for younger people. But they can end up alienating other age groups.
This creates an artificial “grey digital divide”, shaped less by ability and more by gaps in support, training and inclusion. If older workers are not integrated into the AI revolution, there is a risk of creating a divided workforce. One part will be confident with tech, data-driven and AI-enabled, while the other will remain isolated, underutilised and potentially displaced.
An ‘age-neutral’ approach
It’s vital to move beyond the idea of being “age-inclusive”, which frames older people as “others” who need special adjustments. Instead, the goal should be age-neutral designs.
AI designers should recognise that while age is relevant in specific contexts – such as restricted content like pornography – it should not be used as a proxy in training data, where it can lead to bias in the algorithm. In this way, design would be age-neutral rather than ageless.
Designers should also ensure that platforms are accessible for users of all ages.
The stakes are high. It is also not just about economics, but fairness, sustainability and wellbeing.
At the policy level in the UK, there is still a huge void. Last year, House of Commons research highlighted that workforce strategies rarely distinguish the specific digital and technological training needs of older workers. This underscores how ageing people are treated as an afterthought.
A few forward-thinking companies have backed mid- and late-career training programmes. In Singapore, the government’s Skillsfuture programme has adopted a more agile, age-flexible approach. However, these are still isolated examples.
Retraining cannot be generic. Beyond basic digital literacy courses, older people need targeted, job-specific advanced training. The psychological framing of retraining is also critical. Older people need to retrain or reskill not for just career or personal growth but also to be able to participate more fully in the workforce.
It’s also key for reducing pressure on social welfare systems and mitigating skill shortages. What’s more, involving older workers in this way supports the transfer of knowledge between generations, which should benefit everyone in the economy.
Yet, currently, the onus is on the older workers and not organisations and governments.
AI, particularly the generative models that can create text, images and other media, is known for producing outputs that appear plausible but are sometimes incorrect or misleading. The people best placed to identify these errors are those with deep domain knowledge – something that is built over decades of experience.
This is not a counterargument to digital transformation or adoption of AI. Rather, it highlights that integrating older people into digital designs, training and access should be a strategic imperative. AI cannot replace human judgment yet – it should be designed to augment it.
If companies, policies and societies exclude older workers from AI transformation processes, they are essentially removing the critical layer of human oversight that keeps AI outputs reliable, ethical and safe to use. An age-neutral approach will be key to addressing this.
Piecemeal efforts and slow responses could cause the irreversible loss of a generation of experience, talent and expertise. What workers and businesses need now are systems, policies and tools that are, from the outset, usable and accessible for people of all ages.
Sajia Ferdous 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. AI is inherently ageist. That’s not just unethical – it can be costly for workers and businesses – https://theconversation.com/ai-is-inherently-ageist-thats-not-just-unethical-it-can-be-costly-for-workers-and-businesses-254220
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MIL-OSI: WSO2 Launches Ambassador Program to Empower Tech Advocates
Source: GlobeNewswire (MIL-OSI)
Colombo, Sri Lanka, April 22, 2025 (GLOBE NEWSWIRE) — WSO2, the leader in enterprise digital infrastructure technology, today announced the launch of the WSO2 Ambassador Program, a global initiative that celebrates and supports the most passionate voices in its tech community, including developers and architects. This program is designed to recognize individuals who actively share knowledge, inspire innovation, and contribute to the growth of the open-source ecosystem powered by WSO2 technologies.
At the heart of the digital era are developers and architects—the problem-solvers and builders of the digital experiences we use every day. WSO2 recognizes that its success is deeply tied to the passion and ingenuity of its developer community. Developers are not only consumers of WSO2’s open-source platforms for API management, integration, identity and access management and WSO2’s internal developer platform, Choreo; they are also co-creators, pushing the boundaries of what’s possible, improving the products through feedback, and building impactful solutions that serve millions. Architects, on the other hand, play a critical role in shaping the bigger picture—designing scalable, secure, and future-ready digital architectures that bring developer innovations to life.
“Developers are the driving force behind innovation,” said Isabelle Mauny, Chief Developer Advocate at WSO2. “They are not merely users of our products—they are instrumental in shaping them. Architects help ensure that solutions built on WSO2’s platforms are robust, cohesive, and aligned with long-term business goals. The WSO2 Ambassador Program is our way of acknowledging their contributions and supporting their continued growth. Whether through leading community meetups, publishing technical tutorials, or contributing to our codebase, our ambassadors play a vital role in empowering others to succeed with WSO2.”
WSO2’s commitment to open source goes beyond code—it’s about people. The Ambassador Program is a natural extension of that commitment. By offering mentorship, visibility, and support, WSO2 aims to empower developers to become leaders in their communities and advance their personal and professional growth.
What Ambassadors can expect:
- Skill-building opportunities in community leadership, developer advocacy, and public speaking
- Sponsorship for local events, meetups, and conferences to grow regional communities
- Visibility and recognition through WSO2’s digital channels and media
- Access to exclusive WSO2 events, tools, and swag
- Direct collaboration with WSO2 teams, providing feedback and influence on product direction
The program is open to developers, architects, and technical leaders with experience using WSO2 technology and a passion for empowering others through content, events, and code. Ambassadors can contribute at their own pace, with flexible engagement levels.
“Being a WSO2 Ambassador is not about holding a title—it is about making a meaningful impact,” Mauny explained. “It recognizes those developers who dedicate their time to writing tutorials, answering questions in forums, and mentoring the next generation of technologists. Our goal is to support their efforts, elevate their contributions, and connect them with a global community of peers and innovators.”
Visit the WSO2 Ambassadors Page to learn more about the program, meet our 2025 ambassadors, and find out how you can get involved.
About WSO2
Founded in 2005, WSO2 is the largest independent software vendor providing open-source API management, integration, and identity and access management (IAM) to thousands of enterprises in over 90 countries. WSO2’s products and platforms—including our next-gen internal developer platform, Choreo—empower organizations to leverage the full potential of artificial intelligence and APIs for securely delivering the next generation of AI-enabled digital services and applications. Our open-source, AI-driven, API-first approach frees developers and architects from vendor lock-in and enables rapid digital product creation. Recognized as leaders by industry analysts, WSO2 has more than 800 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US, with over USD100M in annual recurring revenue. Visit https://wso2.com to learn more. Follow WSO2 on LinkedIn and X (Twitter).Trademarks and registered trademarks are the properties of their respective owners.
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MIL-OSI: Orion180 Teams Up with Jewelers Mutual® to Offer Homeowners Comprehensive Jewelry Insurance
Source: GlobeNewswire (MIL-OSI)
MELBOURNE, Fla., April 22, 2025 (GLOBE NEWSWIRE) — Orion180, a leading provider of innovative homeowners and flood insurance solutions, has announced a collaboration with Jewelers Mutual, the only insurer dedicated to jewelry and jewelry businesses with over a century of expertise, to provide homeowners with specialized jewelry insurance coverage beyond the typical limits of a standard homeowners policy.
Through a seamless integration with Orion180’s homeowner’s quoting process, customers can obtain comprehensive protection against risks specific to high-value items, including theft, loss, and accidental damage.
“By working with Jewelers Mutual, Orion180 is addressing an underserved need among clients who require comprehensive jewelry coverage that goes beyond standard offerings,” said Ken Gregg, CEO and founder of Orion180. “We believe this collaboration adds a valuable layer to our insureds’ insurance experience because they can protect both their home and adequately protect their high-value items all in one place.”
Jewelers Mutual provides customers with specialized expertise and options such as flexible deductibles and the ability to choose their own preferred jeweler for repairs or replacements, offering policyholders a level of coverage not typically included in standard homeowners insurance policies.
“This new relationship with Orion180 allows us to leverage technology in new ways to make insurance more accessible to more jewelry consumers,” said Mike Alexander, Chief Operating Officer. “We’re able to meet customers where they want to be met and give them the freedom to wear their jewelry confidently knowing each piece has the expert protection it deserves.”
This collaboration represents a milestone in Orion180’s mission to provide value-added, technology-driven insurance solutions that cater to specific client needs. Independent insurance agents and homeowners can learn more about this jewelry insurance option by visiting Orion180.com or contacting Orion180 directly.
About Orion180
Orion180 is a technology-driven and customer-centric insurance brand that combines proprietary technology, real-time data, and straightforward underwriting practices to provide a seamless and premier insurance experience. Orion180 operates through Orion180 Insurance Co., a surplus lines insurance company serving Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Texas, Colorado (Flood only), Tennessee (Flood only), Illinois (Flood only) and Arizona, and Orion180 Select Insurance Co., an admitted insurance company offering coverage in Alabama, Arizona, Georgia, Indiana, Mississippi, North Carolina, and Ohio. With its proprietary MY180 platform and third-party integrations, Orion180 offers unmatched efficiency and innovation, fulfilling its vision of becoming the global leader in insurance solutions while maintaining its mission to deliver superior customer experiences and a comprehensive suite of products. Connect with Orion180 on X, LinkedIn, Facebook, Instagram, TruthSocial, and YouTube. For more information, visit www.Orion180.com.Media Contacts
Ross Blume
Fusion Public Relations
orion180@fusionpr.comYiguang Qiu
Orion180
+1 321 222 6242
yqiu@orion180.comAbout Jewelers Mutual
Jewelers Mutual was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Later, consumers began putting their trust in Jewelers Mutual to protect their jewelry and the special memories each piece holds. Today, Jewelers Mutual continues to support and move the industry forward by listening to jewelers and consumers and offering products and services to meet their evolving needs. Beyond insurance, Jewelers Mutual’s powerful suite of innovative solutions and digital technology offerings help jewelers strengthen and grow their businesses, mitigate risk, and bring them closer to their customers. The Group insurers’ strong financial position is reflected in their 38 consecutive “A+ Superior” ratings from AM Best Company, as of November 2024. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. Jewelers Mutual is headquartered in Neenah, Wisconsin, with other Group offices in Dallas, Texas and Miami, Florida. To learn more, visit JewelersMutual.com.
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MIL-OSI: Parallels’ Survey Reveals Midsize Companies Lead EUC Market Shift: 63% Seek New VDI or DaaS Solutions, 94% Plan Implementation Within a Year
Source: GlobeNewswire (MIL-OSI)
AUSTIN, Texas, April 22, 2025 (GLOBE NEWSWIRE) — Parallels, a global leader in virtualization and end-user computing (EUC) solutions, today released findings from its 2025 State of Cloud Computing Survey, revealing a major shift in the EUC market driven by *midsize organizations. Faced with rising costs and the complexities of legacy virtual desktop infrastructure (VDI), 63% of midsize companies are actively exploring new VDI or Desktop-as-a-Service (DaaS) providers, and 94% plan to implement a new solution within the next 12 months.
“Mid-market companies are facing growing IT demands without enterprise-level budgets,” said Prashant Ketkar, Chief Technology & Product Officer at Parallels. “They’re under pressure to streamline operations, from application delivery and cloud management to VDI support—while also strengthening cybersecurity and enabling remote work. This is forcing organizations to reevaluate their application delivery infrastructure strategies in favor of more cost-effective, secure, and flexible solution.”
Top Challenges with Current VDI Solutions
The survey asked mid-market IT leaders to rank the most pressing challenges they face with their current VDI solutions. The results point to a clear trend: complexity, cost, and manageability remain major pain points. Respondents ranked the following issues as their top concerns, with 1 being the most critical:
- Requires too many IT resources
- Lack of centralized control
- Too expensive
- Too complex
- Unreliable/performance issues
As organizations seek to address these challenges, several key factors are influencing their decisions to change their IT strategies.
Key Drivers Behind Shifting IT Strategies
As the VDI market continues to experience disruption, mid-market organizations are reevaluating their IT strategies to better align with their current and future needs. When asked about the leading factors influencing potential change, survey respondents cited the following:
- Rising costs – 43%
- Concern over future support – 26%
- Lack of integration – 18%
- Uncertain product roadmaps – 13%
- Other – 1%
These insights point to a growing demand for solutions that reduce operational overhead while offering long-term stability and seamless integration. IT leaders are not only looking for ways to cut costs, but they’re also seeking trusted partners with clear product direction and the ability to support evolving infrastructure strategies.
According to Gartner®, “Vendors push for organizations to embrace 100% cloud deployment, but most MSEs continue to find benefits in a hybrid approach that balances both on-premises and cloud advantages. MSE CIOs or the most senior IT leaders report that, on average, 40% of their applications and infrastructure remain on-premises.” This underscores the importance of flexible solutions that can support both cloud and on-premises deployments, allowing businesses to modernize at their own pace, without sacrificing performance, control, or budget.
Cybersecurity Budgets on the Rise
With cybersecurity threats continuing to evolve, mid-market organizations are prioritizing stronger defenses in their IT strategies. According to the survey, an overwhelming majority – nine out of 10 – plan to boost their cybersecurity investments in 2025:
- 41% reported their cybersecurity budget is increasing significantly
- 48% said it’s increasing moderately
- Only 9% plan to maintain current spending levels, and just 1% anticipate a decrease
These results underscore how critical cybersecurity has become, not just as a protective measure, but as a foundational element of digital transformation and business resilience.
“What we’re hearing from IT leaders is a desire for choice, security & simplicity without compromise—solutions that are easy to deploy, run & manage,” said Ketkar. “At Parallels, we’re focused on delivering powerful, streamlined application delivery & infrastructure solutions that help midsize businesses stay agile, reduce costs, and modernize at their own pace.”
Survey Methodology
Parallels’ 2025 State of Cloud Computing Survey was conducted in December 2024 with data from 600 IT professionals across the United States, the United Kingdom, Canada, Japan, and the European Union about their cloud journeys to discover what’s working, what isn’t, and what’s next. To see the full results of the study, click here.
*Note: Mid-size companies are defined as those with 300 to 1,000 employees.
Gartner Attribution
Gartner, Midsize Enterprises Optimize Cloud and On-Premises Strategies, By Mike Cisek, Megha Bawa, 30 October 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
About Parallels
Parallels is a global leading brand in cross-platform solutions that make it simple for businesses and individuals to use and access the applications and files they need on any device or operating system. Parallels helps customers leverage the best technology out there, whether it’s Windows, Mac, Chrome OS, iOS, Android, or the cloud. Parallels solves complex engineering and user-experience problems by making it simple and cost-effective for businesses and individual customers to use applications anywhere, anytime. Parallels is part of the Alludo™ portfolio. For more information, please visit www.parallels.com.
© 2025 Parallels International GmbH. All rights reserved. Parallels is a trademark or registered trademark of Parallels International GmbH. in Canada, the United States and/or elsewhere. Mac is a trademark of Apple Inc. Android and ChromeOS are trademarks of Google LLC. All other company, product and service names, logos, brands and any registered or unregistered trademarks mentioned are used for identification purposes only and remain the exclusive property of their respective owners. For all notices and legal information please visit www.parallels.com/about/legal/.
Ashley Ruess
ashley.ruess@alludo.comPhotos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/35459dc5-1e10-4e50-9abc-ed2b7f7095c6
https://www.globenewswire.com/NewsRoom/AttachmentNg/2349b4ed-a6f7-4a0c-b396-738053f19f6c
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https://www.globenewswire.com/NewsRoom/AttachmentNg/47116ec4-5d36-49c0-8f76-c2f03f90f41e
https://www.globenewswire.com/NewsRoom/AttachmentNg/9776da51-f483-45e1-ad4a-f077bebd426c
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MIL-OSI: Primech AI Showcases HYTRON Cleaning Technology at Global Innovation Summit 2025 in Germany
Source: GlobeNewswire (MIL-OSI)
SINGAPORE, April 22, 2025 (GLOBE NEWSWIRE) — Primech AI Pte. Ltd. (“Primech AI” or the “Company”), a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), recently participated in the prestigious Global Innovation Summit (GIS) 2025 held at HANNOVER MESSE in Hannover, Germany on April 1-2, 2025. The Company was invited by Enterprise Singapore to join a select group of innovative Singaporean companies representing the nation’s technological capabilities on the global stage.
Picture 1: Charles Ng, Chief Operating Officer of Primech Ai presenting at the Global Innovation Summit
The Global Innovation Summit, one of the world’s premier platforms for industrial technology innovation, provided Primech AI with the opportunity to showcase its groundbreaking HYTRON, AI-powered autonomous bathroom cleaning robots to an international audience of industry leaders, potential partners, and investors.
“Our participation at the Global Innovation Summit represents a significant milestone in our international expansion strategy,” said Mr. Charles Ng, Chief Operating Officer of Primech AI. “Being invited by Enterprise Singapore to represent Singapore’s innovation ecosystem at such a prestigious global event validates our technological achievements and opens doors to potential collaborations across European markets.”
During the two-day summit, the Primech AI team presented its innovation pitch focused on the HYTRON, AI-powered autonomous bathroom cleaning robot technology, highlighting its advanced AI capabilities, 3D-cleaning functionality, and the use of electrolyzed water for enhanced sanitation. The presentation demonstrated how Primech AI’s solutions address critical challenges in the facility services industry, including labor shortages, increasing hygiene standards, and sustainability requirements.
A key enabler behind HYTRON’s performance is the NVIDIA Jetson Orin Nano Super, a cutting-edge System-on-Module (SoM) designed for robust edge AI and robotics applications. By integrating NVIDIA’s advanced hardware and software technologies—including CUDA, TensorRT, cuDNN, and the NVIDIA Driver—Primech AI has significantly boosted HYTRON’s real-time data processing capabilities, enabling greater autonomy, precision, and responsiveness in demanding cleaning environments.
The Company engaged with numerous potential partners and customers from various sectors, including commercial property management, healthcare, hospitality, and public transportation, exploring opportunities to implement its autonomous cleaning solutions across European markets.
The Global Innovation Summit served as a platform for Primech AI to connect with international technology partners, distributors, and end-users interested in next-generation cleaning solutions. These engagements have already resulted in several promising partnership discussions that could accelerate the Company’s European market entry strategy.
“The response to our technology at HANNOVER MESSE exceeded our expectations,” said Mr. Kin Wai Ho, Chief Executive Officer of Primech Holdings. “We identified significant interest from European facility management companies seeking to integrate autonomous cleaning solutions into their operations. The connections made at this event will be instrumental in our international growth plans.”
About the Global Innovation Summit 2025
The Global Innovation Summit is Eureka’s flagship event organised as part of HANNOVER MESSE, the world’s leading trade fair for industrial technology. The summit brings innovators, industry leaders, policymakers, and investors together to explore emerging technologies and foster international collaborations. The 2025 edition focused on sustainable industrial solutions, AI applications, and automation technologies transforming traditional industries.About Primech AI
Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.About Primech Holdings Limited
Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.Company Contact:
Email: ir@primech.com.sgInvestor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com -
MIL-OSI Global: To truly understand Pope Francis’ theology – and impact – you need to look to his life in Buenos Aires
Source: The Conversation – Global Perspectives – By Fernanda Peñaloza, Senior Lecturer in Latin American Studies, University of Sydney
Pope Francis’ journey from the streets of Flores, a neighbourhood in Buenos Aires, Argentina, to the Vatican, is a remarkable tale.
Born in 1936, Jorge Bergoglio was raised in a middle-class family of Italian Catholic immigrants.
Bergoglio defied his mother’s wish for him to become a medical doctor and chose instead to pursue priesthood, a calling he felt during confession. The young man joined the Jesuits in the 1950s, attracted to the order’s vow of poverty and its ethos of serving others and living simply.
He became a priest in 1969, Archbishop of Buenos Aires in 1998, and took on the papacy in 2013. As Pope Francis, his dedication to social justice was deeply rooted in the Latin American context.
The region’s history of inequality, poverty and political upheaval greatly influenced his perspective.
The young Argentinian priest
Bergoglio, a devoted supporter of the San Lorenzo soccer team, was also a confident tango dancer, mate drinker, and an unconditional admirer of his compatriot, Jorge Luis Borges, one of the most influential writers of the 20th century.
In 1965, the two men collaborated on the publication of short stories written by Bergoglio’s literature students. The students had been inspired by a seminar led by Borges, organised by the young priest.
Borges thought highly of Bergoglio, finding him charming and intelligent. For Borges, Bergoglio was a Jesuit through and through, noting the clerics of that order had been historically transgressive as well as possessors of a good sense of humour.
While Borges never saw him transformed into Pope Francis, his observations somehow fit with the respect Bergoglio earned as a global leader.
Theology of the people
As Archbishop of Buenos Aires, he lived modestly, often taking public transport and dedicating himself to the poor and disenfranchised. He personally attended the needs of underprivileged neighbourhoods known as villas miseria (literally “misery towns”) in Argentine Spanish.
He was a vocal opponent to economic inequality. During the 2001 Argentine economic crisis he advocated for the rights and dignity of impoverished citizens.
Pope Francis hails from a region deeply influenced by the progressive movements of Catholic priests and nuns, who were significantly inspired by liberation theology during the 1960s in Latin America.
Liberation theology developed in Latin America during the latter part of the 20th century, as a reaction to significant political and theological transformations in the area. It believed in political liberation for the oppressed, inspired by the Cuban Revolution and Second Vatican Council by Pope John XXIII, both in 1959.
While Francis did not fully subscribe to the tenets of liberation theology, much of his dedication to social justice aligns with its ideals. Pope Francis’ social awareness was deeply shaped by the “theology of the people”.
Distinct to Argentina, and emerging in the 1960s, the theology of the people shared liberation theology’s focus on social justice, but is devoid of Marxist ideology, and emphasises the dignity and agency of the marginalised and the impoverished.
During Argentina’s dictatorial regime from 1976–83, Bergoglio led the Jesuits. But he did not adopt the highly dangerous stance of full opposition typical among liberation theologians elsewhere in Argentina and other parts of Latin America.
Commenting on Latin American affairs
In his early years as the Pope, he resonated with progressive Catholics across Latin America, because of his grounding in Argentinian theology and his focus on social justice. But in recent years, his popularity in some Latin American countries declined.
In Argentina, this dip in enthusiasm is partly attributed to his decision not to visit, despite travelling to neighbouring nations.
More profoundly, the decline likely stems from his fixed stance against contentious issues such as same-sex marriage and abortion. To the disappointment of many Argentines and other Latin American citizens, he refused to compromise.
Throughout his papacy, Pope Francis received all Argentine presidents – even those who were previously critical of him, such as Cristina Fernández de Kirchner.
He maintained a strong connection to his Buenos Aires roots and remained engaged with Argentina’s social and political landscape, often commenting on situations that provoke strong reactions from politicians.
He was a critic of policies instituted by the current President of Argentina, Javier Milei, particularly Milei’s libertarian model of economy and the government’s brutal response to public dissent and opposition. In September 2024, the Pope famously said:
the government put its foot down: instead of paying for social justice, it paid for pepper spray.
An alternative model of leadership
By reflecting on how Pope Francis’ theology is rooted in the Argentina he grew up in, we can better understand his actions as Pope.
He made significant contributions in the Latin American region. He played a mediating role between the United States and Cuba, supported the peace process in Colombia, and highlighted the environmental devastation caused by mining companies in the Amazon.
He publicly apologised to Indigenous peoples of Latin America for the Church’s historical complicity with colonialism, and acknowledged his inaction allowed the Chilean clergy to overlook sexual abuse cases.
He appointed clergymen from non-European countries, enhancing representation from Asia, Africa and Latin America and increased the participation of women within the Church’s leadership structures.
His landmark encyclical, Laudato Si’, underscored the moral imperative to address climate change, inspiring accolades from global leaders. His critique of Israel and the conflict in Gaza underscored his consistent opposition to war and advocacy for peace.
Despite existing tensions and contradictions within his papacy – particularly regarding the Church’s stance on LGBTQIA+ issues and women’s rights – Pope Francis’s approach to global issues remained steadfast and aligned with his core values, and the Buenos Aires he came of age in.
Francis’s leadership is a product of his upbringing and a catalyst for regional and global dialogue on social justice.
The profound influence of the Latin American region on him is well captured by long time friend, Uruguayan lawyer and activist, Guzman Carriquiry who described the Pope as:
Priest, and profoundly priest; Jesuit and profoundly Jesuit; Latin American, and profoundly Latin American.
Fernanda Peñaloza 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. To truly understand Pope Francis’ theology – and impact – you need to look to his life in Buenos Aires – https://theconversation.com/to-truly-understand-pope-francis-theology-and-impact-you-need-to-look-to-his-life-in-buenos-aires-255003
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MIL-OSI: GCM Grosvenor Announces $1.3 Billion Final Close for Infrastructure Advantage Fund II, a Nearly 50% Increase Over its Predecessor Fund
Source: GlobeNewswire (MIL-OSI)
CHICAGO, April 22, 2025 (GLOBE NEWSWIRE) — GCM Grosvenor (Nasdaq: GCMG), a leading global alternative asset management solutions provider, announced the final close of its Infrastructure Advantage Fund II (“IAF II” or the “Fund”) was held on March 31, 2025, securing $1.3 billion in commitments, a substantial increase over its predecessor, “Fund I”, which closed in 2020 at $893 million.
GCM Grosvenor’s Infrastructure Advantage Strategy focuses on partnership with organized labor and other stakeholders to invest in infrastructure projects with long-term community and economic benefits. Similar to Fund I, IAF II will focus on building a diverse portfolio of assets across infrastructure sectors including transportation, energy transition, and digital infrastructure. The Fund attracted a broad group of 58 investors from across the U.S. and Canada.
“We are grateful for the continued confidence of our investors, who share our vision of effectively deploying infrastructure capital in the U.S. and Canada,” said Michael Sacks, Chairman and Chief Executive Officer at GCM Grosvenor. “We look forward to building on the success of Fund I and delivering value to our IAF II investors.”
Launched in 2018, GCM Grosvenor’s Infrastructure Advantage Strategy manages nearly $2.5 billion in assets, and through its investments, has generated more than $8 billion* of total economic impact across the United States and Canada.
*Source: IMPLAN 2022 Data Set.
About GCM Grosvenor
GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul, and Sydney. For more information, visit: www.gcmgrosvenor.com.
Media Contact
Tom Johnson and Abigail Ruck
H/Advisors Abernathy
tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global
212-371-5999 -
MIL-OSI Global: Habeas corpus: A thousand-year-old legal principle for defending rights that’s getting a workout under the Trump administration
Source: The Conversation – USA – By Andrea Seielstad, Professor of Law, University of Dayton
Two Latin words – ‘habeas corpus’ – protect any person, whether citizen or not, from being illegally confined. deepblue4you, iStock / Getty Images Plus In some parts of the world, a person may be secreted away or imprisoned by the government without any advanced notification of wrongdoing or chance to make a defense. This has not been lawful in the United States from its very inception, or in many other countries where the rule of law and respect for individual civil rights are paramount.
The legal doctrine of “habeas corpus,” a Latin phrase that has its American roots in English law as early as the 12th century, stands as a barrier to unlawful arrest.
In its essence, habeas corpus protects any person, whether citizen or not, from being illegally confined. Habeas corpus is Latin for “you shall have the body” and requires a judge literally to have the body of any incarcerated person brought physically forward so that the legality of their detention may be assessed.
That is why habeas, sometimes also called the “Great Writ”, is front and center right now in many of the lawsuits challenging the Trump administration’s arrest and deportation of noncitizen students, scholars, humanitarian refugees and others.
In an April 7, 2025, decision in a habeas corpus case brought by lawyers from the American Civil Liberties Union representing Venezuelans who faced deportation, the Supreme Court reaffirmed that the government must give those it aims to deport the opportunity to legally challenge their removal from the U.S. This chance for due process when deprived of liberty is what habeas corpus is and does.
Since then, several federal judges have issued habeas writs blocking certain deportations from the U.S. and even movement of potential deportees from one state to another.
The rapid deportation to El Salvador of noncitizens from the U.S. has sparked public concern about deportees’ ability to challenge the move.
Dominic Gwinn, Middle East Image / Middle East Images via AFPHabeas corpus’s deep roots
The idea that no person shall be deprived unjustly of liberty formally dates to the 39th Clause of the Magna Carta signed by England’s King John in 1215.
The Magna Carta itself was, as the U.K. parliament describes it, “the first document to put into writing the principle that the king and his government was not above the law.”
Although the writ originally was a means of enforcing the king’s power over his subjects, as noted by the Supreme Court in reviewing the writ’s long history, English judges over time issued habeas corpus “to enforce the King’s prerogative to inquire into the authority of a jailer to hold a prisoner.”
The idea crossed the ocean to play an important part in the formation of the U.S. constitutional form of democracy. As the Supreme Court emphasized in a 2008 case holding that the habeas corpus privilege existed even for “aliens” designated as enemy combatants and detained at Guantanamo Bay: “Protection for the privilege of habeas corpus was one of the few safeguards of liberty specified in a Constitution that, at the outset, had no Bill of Rights.”
In the Federal Judiciary Act of 1789, which created lower federal courts following the ratification of the Constitution, Congress gave immediate power to the federal courts to issue habeas corpus relief.
Congress expanded the right in 1867 to permit habeas corpus challenges to unlawful actions by state and local officials. This enabled people who were still held in slavery or indentured servitude, or otherwise detained in state jails, to seek release in federal court. This legislation also established the framework, still recognized today, for state prisoners to attack the constitutionality of their state convictions in federal court.
States and some tribes also have their own habeas corpus statutes. Congress also extended habeas to allow federal challenges to detention by tribal officials via the Indian Civil Rights Act of 1968, which made many of the constitutional rights held by individuals applicable to official action by federally recognized Native American tribes. In fact, habeas corpus is the sole remedy under the Indian Civil Rights Act for challenging any of the enumerated rights in that act.
When is habeas corpus used?
The principal use of habeas corpus, historically and in more modern times, has been “to seek release of persons held in actual, physical custody in prison or jail,” as Justice Hugo Black wrote in a 1962 Supreme Court opinion.
Its scope extends well beyond imprisonment, however. Habeas has been the vehicle for challenging interference with child custodial rights, involuntary commitment to inpatient treatment or psychiatric care, military induction, restrictive conditions of pretrial release, probation or parole, and banishment from tribal lands, to name a few examples.
Besides securing the physical release of imprisoned persons, habeas corpus may result in dismissal of criminal charges, new trials or appeals, the appointment of legal counsel, and court orders directing remediation of cruel or inhumane conditions of confinement.
The idea that no person shall be deprived unjustly of liberty formally dates back to the 39th Clause of this document, the Magna Carta, signed by England’s King John in 1215.
The National ArchivesCritical safeguard of liberty
Detained individuals have been blocked from using habeas corpus less than a handful of times in American history.
In the words of the Constitution’s Article I, which governs congressional power: “The Privilege of the Writ of Habeas Corpus shall not be suspended, unless when in Cases of Rebellion or Invasion the public Safety may require it.”
For example, it was suspended by President Abraham Lincoln during the Civil War; in Hawaii after the 1941 bombing of Pearl Harbor; during rebellions in 11 South Carolina counties overtaken by the Ku Klux Klan during Reconstruction in the years just after the Civil War; and in certain provinces of the U.S.-controlled Philippines in 1905.
Significantly, however, habeas relief has remained vital to challenges to presidential orders and congressional enactments even during times of war and other national security concerns.
The Supreme Court reaffirmed the validity of using habeas corpus in many efforts to suspend or limit the writ in cases stemming from the Sept. 11, 2001, attacks.
In November 2001, President George W. Bush issued a military order authorizing the indefinite detention of noncitizens suspected of being connected to terrorism. Under that order, Yaser Hamdi, who was an American citizen, was detained in U.S. military facilities without being charged, without legal counsel or the possibility of court hearings after being accused of fighting for the Taliban against the United States.
In a 2004 ruling on Hamdi’s case against the government, the Supreme Court upheld the right of every American citizen to use habeas corpus, even when declared to be an enemy combatant.
The court later ruled that Congress’ efforts to impose similar limits with respect to noncitizens being detained at Guantanamo Bay under the Military Commissions Act of 2006 were an unconstitutional abridgment of habeas corpus rights.
In the 2004 landmark case of Rasul v. Bush, the Supreme Court reaffirmed limits on when habeas corpus can be suspended – and when it cannot. The justices said that even foreign detainees captured in countries around the world and brought to Guantanamo Bay on suspected ties to terrorism had the right to challenge their detention in U.S. courts.
As these cases affirm, “Neither citizenship nor territoriality have been determined to be essential to the exercise of the writ.”
Habeas corpus is a critical safeguard of liberty. In the words of Chief Justice John Marshall in the seminal 1803 case, Marbury v. Madison, the “very essence” of civil liberty is “the right to claim the protection of the laws, whenever he receives an injury.”
Andrea Seielstad does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
– ref. Habeas corpus: A thousand-year-old legal principle for defending rights that’s getting a workout under the Trump administration – https://theconversation.com/habeas-corpus-a-thousand-year-old-legal-principle-for-defending-rights-thats-getting-a-workout-under-the-trump-administration-254525
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MIL-OSI Asia-Pac: CE begins Zhejiang visit
Source: Hong Kong Information Services
Chief Executive John Lee today arrived in Hangzhou, Zhejiang, to start a four-day visit programme, touring local innovation and technology facilities, and meeting Hong Kong people and representatives of Hong Kong enterprises in Zhejiang.
Upon arriving in Hangzhou in the afternoon, Mr Lee, along with a Hong Kong Special Administrative Region Government delegation he is leading, visited the ZJU-Hangzhou Global Scientific & Technological Innovation Center to learn more about the latest developments in innovation and technology collaboration between Hong Kong and Hangzhou.
The Chief Executive pointed out that Zhejiang University is one of the eligible Mainland universities under the Top Talent Pass Scheme, and over 4,000 of its graduates have been approved to pursue their careers in Hong Kong through the scheme.
He also highlighted that the centre serves as a major innovation and technology platform in Zhejiang, bringing together talent skilled in the collaborative development of industry, education and research sectors.
In the evening, Mr Lee attended a dinner, hosted by the Hong Kong Chamber of Commerce in Zhejiang, where he engaged with Hong Kong people and representatives of Hong Kong enterprises in Zhejiang to find out more about their daily lives and developments.
He encouraged them to leverage their strengths to serve Zhejiang enterprises in going global and attracting foreign investment, with a view to contributing to mutual benefits and the high-quality development of Hong Kong and Zhejiang.
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MIL-OSI: MoneyHero Offers End-to-End Car Insurance Purchase Journey in Hong Kong through Strategic Partnership with bolttech
Source: GlobeNewswire (MIL-OSI)
HONG KONG, April 22, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced the launch of its end-to-end car insurance purchasing journey in Hong Kong. In collaboration with global insurtech bolttech, this innovative enhancement enables customers to compare and receive real-time insurance quotes while seamlessly completing their entire car insurance purchase directly on MoneyHero’s platform—an industry milestone in Hong Kong.
Enhancing Car Insurance Experience with AI Capabilities
The enhanced platform allows customers to:
- Compare real-time quotes from leading insurers
- Customize coverage options based on their needs
- Purchase policies instantly without redirection to third-party sites
- Receive immediate confirmation and policy issuance
By integrating bolttech’s advanced insurance exchange technology, MoneyHero ensures accuracy, efficiency, and a fast, hassle-free experience for customers. This launch marks a major advancement for MoneyHero, building on its initial strategic partnership with bolttech previously announced on October 8, 2024, which introduced real-time car insurance pricing comparisons. With the introduction of a fully integrated purchasing experience, customers can now enjoy unparalleled convenience, a streamlined process, and expedited policy issuance.
Hong Kong’s motor vehicle business recorded gross written premiums of over HK$5 billion1, with insurance penetration in Hong Kong reaching 17.2% in 20232 — offering a compelling opportunity for transformation through data-driven, embedded distribution. For insurers, this enhancement translates to a higher volume of policies sold and improved customer acquisition, solidifying MoneyHero’s position as a valuable digital distribution partner in the evolving insurance landscape.
A Stronger Digital Insurance Offering
The introduction of this fully integrated car insurance journey aligns with MoneyHero’s strategic pillars of leading the insurance brokerage and enhancing its conversion expertise. MoneyHero’s platform has already demonstrated impressive results with travel insurance, achieving conversion rates up to two times higher due to its seamless end-to-end purchasing model. MoneyHero anticipates similar success with car insurance, which will drive increased sales for insurers and contribute to robust revenue growth.
Strong Insurance Growth and Market Expansion
MoneyHero’s insurance business has emerged as a significant growth driver, with revenues from this vertical increasing by 54% year-over-year in the first nine months of 2024. The Company expects full-year 2024 growth in its insurance business surpassing its Q3 level of 9.5% of its group revenue, driven by the expansion of end-to-end purchasing journeys across multiple insurance categories.
This enhancement builds on the success of MoneyHero’s travel insurance platform, which has experienced strong adoption and improved conversion rates due to its streamlined purchasing process. In the upcoming quarters, the Company plans to further enhance insurance purchasing experience across other markets and product lines, ensuring the Company remains at the forefront of innovation in the industry.
Rohith Murthy, CEO of MoneyHero, said: “Customers increasingly seek a seamless experience where they can compare, select, and purchase insurance all in one place. With this launch in Hong Kong, we are not only streamlining the car insurance shopping process—we are fully embracing the entire purchasing journey. Our data indicates that end-to-end insurance transactions yield significantly higher conversion rates, and we anticipate strong adoption in Hong Kong. This initiative represents a natural evolution of our partnership with bolttech3, and we believe we have found the perfect partner to enhance our offerings. Together, we are taking a pivotal step toward positioning MoneyHero as the go-to destination for digital insurance in the region. With bolttech’s technological expertise and commitment to innovation, we are confident in our ability to significantly improve the purchase experience for our customers.”
Philip Weiner, CEO for Asia and Middle East of bolttech added: “Following our partnership announcement late last year, we are excited to be heading into the next stage with MoneyHero. Our insurance exchange platform will enable them to deliver a more intuitive and transparent user experience, enhancing the overall car insurance purchasing journey for consumers in Hong Kong. Together with MoneyHero, we look forward to bringing more value-added services to consumers.”
About MoneyHero Group
MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 270 commercial partner relationships as at September 30, 2024, and had approximately 7.4 million Monthly Unique Users across its platform for the three months ended September 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving Greater Southeast Asia’s digital economy, please visit www.MoneyHeroGroup.com.
About bolttech
bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in more than 35 markets across Asia, Europe, North America, and Africa.
With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.
For more information, please visit www.bolttech.io.
Forward Looking Statements
This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.
For MoneyHero inquiries, please contact:
Investor Relations:
MoneyHero IR Team
IR@MoneyHeroGroup.comMedia Relations:
MoneyHero PR Team
Press@MoneyHeroGroup.comFor bolttech inquiries, please contact:
FTI Consulting on behalf of bolttech
bolttech@fticonsulting.com_______________________________
1 Insurance Authority, Market Overview, https://www.ia.org.hk/en/infocenter/statistics/files/GB_Market_Overview_2023_Eng_Final.pdf
2 Financial Services and the Treasury Bureau, https://www.fstb.gov.hk/en/financial_ser/insurance-industry.htm
3 An affiliate of the Company.
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MIL-OSI: Byrna Technologies Announces the Debut of the Byrna CL, the World’s Most Concealable Less-Lethal Launcher
Source: GlobeNewswire (MIL-OSI)
ANDOVER, Mass., April 22, 2025 (GLOBE NEWSWIRE) — Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced the official launch of its highly anticipated Byrna Compact Launcher (“CL”). The Company will begin accepting orders for this revolutionary new launcher on April 24, with product shipments beginning May 1.
Weighing just 0.76 pounds and measuring only 6.81 inches in length – smaller than a smartphone – the Byrna CL is the most concealable less-lethal launcher ever made. Along with its compact form, the CL delivers the same powerful energy density on impact as Byrna’s most advanced model to date, the Byrna LE. Engineered for everyday carry, the CL offers a sleek, no-snag design for quick unholstering and is red dot compatible for enhanced accuracy.
“The Byrna Compact Launcher is a major step forward in less-lethal innovation,” said Bryan Ganz, CEO of Byrna. “Our team set out to design a product that would appeal to both new and experienced users who want maximum stopping power in a smaller, more concealable form factor. We’re proud to bring to market a launcher that is 38% smaller than our flagship Byrna SD and yet delivers the same force per square inch as our LE model.”
Key Features and Technical Specifications:
- Size: 6.81″ L x 5.1″ H x 1.18″ W
- Weight: 0.76 lbs
- Projectile Speed: 400 feet per second
- Effective Range: 60 feet
- Caliber: Fires proprietary .61 caliber projectiles engineered to deliver the same energy density as .68 caliber rounds
- Shot Capacity: 15 rounds per 8g CO₂ cartridge
- Materials: Constructed from high-grade aluminum, steel, and brass
- Compatibility: Red dot ready, customizable with accessories
The CL’s new .61 caliber projectile will be exclusive to Byrna and produced at the Company’s new ammunition facility in Fort Wayne, Indiana. Conceived, designed and manufactured in America from 90% U.S. content, the Byrna CL is the Company’s first truly All-American launcher and highlights Byrna’s progress to onshore manufacturing.
Pricing and Availability: The Byrna Compact Launcher has a base MSRP of $549.99. Customers can join the waitlist starting today here. Launchers will be available for order beginning April 24 and the Company and its dealers will begin shipping on May 1.
To experience the CL in person, customers can visit select Byrna stores and Premier Dealers nationwide. Use the store locator to find the nearest in-store demo experience.
About Byrna Technologies Inc.
Byrna is a technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company’s investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a less-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company’s e-commerce store.Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “intends,” “will,” “anticipates,” and “believes” and statements that certain actions, events or results “may,” “could,” “would,” “should,” “might,” “occur,” “be achieved,” or “will continue to.” Forward-looking statements in this news release include, but are not limited to, statements relating to the expected timing of orders and shipments of the Byrna CL, expected performance, Byrna’s progress to onshore manufacturing, and pricing. Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, potential cancellations of existing or future orders including as a result of any fulfillment delays, product rollout issues, introduction of competing products, negative publicity, supply chain constraints, other factors, changes in the markets for security products and non-lethal defense technology could have a material adverse impact on our business, financial condition and results of operations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in our most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in our SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.
Investor Contact:
Tom Colton and Alec Wilson
Gateway Group, Inc.
949-574-3860
BYRN@gateway-grp.comA video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b56d0767-d8bb-4ce7-9121-c175536afc18
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c16cc8ad-1bd0-4580-a20e-a57be1071da6
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MIL-OSI Economics: Secretary-General of ASEAN receives the Thai Trade Representative
Source: ASEAN
Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received Thai Trade Representative Umesh Pandey at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, they discussed emerging issues on regional and global trade, including the new U.S. Tariff Policy and its effects on the trade and investment schemes in ASEAN.
The post Secretary-General of ASEAN receives the Thai Trade Representative appeared first on ASEAN Main Portal.
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MIL-OSI Economics: Secretary-General of ASEAN receives the Minister of Foreign Affairs of the Republic of Estonia
Source: ASEAN
Secretary-General of ASEAN, Dr. Kao Kim Hourn, this afternoon received H.E. Margus Tsahkna, Minister of Foreign Affairs of the Republic of Estonia, at the ASEAN Headquarters/ASEAN Secretariat. During the meeting, both sides shared insights on advancing ASEAN-Estonia relations in mutually beneficial areas, both bilaterally and within the ASEAN-EU framework.
The post Secretary-General of ASEAN receives the Minister of Foreign Affairs of the Republic of Estonia appeared first on ASEAN Main Portal.
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MIL-OSI: Admiral Group agrees to sell its U.S. motor business to JC Flowers
Source: GlobeNewswire (MIL-OSI)
Admiral Group agrees to sell its U.S. motor business to JC Flowers
Admiral Group plc announces that it has entered into an agreement to sell its U.S. motor insurance business, including Elephant Insurance Company and Elephant Insurance Services (“Elephant”), to J.C. Flowers & Co. (“J.C. Flowers”), a global private investment firm dedicated to investing in the financial services industry, for an undisclosed cash consideration (before customary adjustments and transaction and related expenses) representing approximately the net asset value of Elephant. The transaction is subject to regulatory approval and is expected to close in Q4 2025.
Headquartered in Richmond, Virginia, Elephant Insurance offers U.S. customers simple and affordable car insurance. The company’s tools allow customers to find the best protection for their needs and budget, with tools that are easy to use and understand.
Costantino Moretti, Head of International Insurance, Admiral Group said:
“In Elephant, we have built a business with a great foundation, and selling the company to J.C. Flowers is the right decision to ensure its future success. J.C. Flowers and Elephant have a shared ambition for generating growth and value. This partnership will allow the business to continue to deliver the high-quality insurance products and services that US motorists need.”“This is a good outcome not only for Elephant and its employees, but also the Group and our shareholders. This transaction will enable us to focus on the opportunities we see for delivering long-term sustainable growth in our businesses in the UK and Mainland Europe.”
Eric Rahe, Managing Director and Co-President, J.C. Flowers said:
“J.C. Flowers has a long, distinguished history of investing in the insurance industry, and we will leverage our experience to help Elephant Insurance generate new opportunities as a standalone company. We are excited to partner with the Elephant team as the business enters this new stage of development.”Alberto Schiavon, CEO of Elephant Insurance said: “We are very excited to be joining forces with J.C. Flowers. This partnership will enable us to benefit from their extensive expertise which will play a critical role for the next phase of our growth strategy and add value for our customers, whilst maintaining our distinctive culture.”
ENDS
Notes to Editors
Admiral’s corporate broker, BofA Securities, is acting as exclusive financial advisor and Sidley Austin LLP as legal advisor to Admiral Group in connection with this transaction. Keefe, Bruyette & Woods, A Stifel Company, is acting as exclusive financial advisor and Debevoise & Plimpton LLP as legal advisor to J.C. Flowers in connection with this transaction.Enquiries
Media:
For Admiral:
Addy Frederick
addy.frederick@admiralgroup.co.uk
+44 (0) 7500 171 810Analysts and investors:
Diane Michelberger
diane.michelberger@admiralgroup.co.uk
+44 (0) 7881 305 063For J.C. Flowers:
Jennifer Hurson
Lambert by LLYC
jhurson@lambert.comAbout Admiral Group
Admiral Group plc is a leading FTSE 100 Financial Services company offering motor, household, travel and pet insurance as well as personal lending products. Established in 1993 in the UK, the Group now has offices in Canada, France, Gibraltar, India, Italy, Spain, and the US.About J.C. Flowers & Co
J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $18 billion of capital, including co-investment, in 67 portfolio companies in 18 countries across a range of industry subsectors including banking, insurance and reinsurance, specialty finance, business and insurance services, wealth management and capital markets, payments and software. With approximately $4 billion of assets under management, J.C. Flowers has offices in New York, London and Palm Beach. For more information, please visit www.jcfco.com. -
MIL-OSI Video: Vice President JD Vance Delivers Remarks on the U.S. and India’s Shared Priorities
Source: United States of America – The White House (video statements)
Jaipur, India
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MIL-OSI Submissions: Australia – MCEC welcomes the sweetest Good Friday Appeal yet
Source: Melbourne Convention and Exhibition Centre (MCEC)22 April 2025 – Melbourne Convention and Exhibition Centre (MCEC) and The Good Friday Appeal have joined forces for the 11th consecutive year, raising a record $23.8 million to support life-saving care for children across Victoria.
“We love opening our doors every year to welcome thousands of families to enjoy a day of fun and celebration, while raising much-needed funds for sick children across Victoria,” Chief Executive, Natalie O’Brien AM said.
“It’s a truly rewarding experience and you can see how much joy this event brings to the local community and the MCEC team,” Ms O’Brien added.
MCEC’s talented chefs played a crucial role in this year’s success, baking an astonishing 20 metres of hot cross buns, made up of nearly 3,000 buns.
Alessandro Bartesaghi, MCEC’s award-winning pastry chef said, “The Good Friday Appeal event is really close to my heart and I love creating something special for the children every year.”
“This year I really wanted to push the boundaries and try something we’ve never done before. And what a better way than baking the longest table of hot cross buns you’ve ever seen! I was inspired by Japanese baking techniques to create a very soft, delicious bun that everyone can enjoy,” he added.
In addition, MCEC’s interactive Ice Cream-o-Rama served 1,200 house-made ice creams. All profits from the sale of the hot cross buns and ice creams were generously donated to the Good Friday Appeal, further contributing to the remarkable total raised this year.
All funds raised from the event will contribute to groundbreaking research, family care programs and state of the art equipment at The Royal Children’s Hospital in Melbourne.
This year’s appeal also extended its impact across the state, providing a significant boost to regional paediatric health services at Barwon Health, Bendigo Health, Grampians Health, Goulburn Valley Health, Albury Wodonga Health and Latrobe Regional Health.
“For over 10 years MCEC has generously supported the Good Friday Appeal, providing the venue and services for our family fun event, Kids Day Out, the all important Phone Room and Money Counting Room”, Rebecca Cowan, Executive Director of the Good Friday Appeal, said.
“Thank you to Natalie O’Brien and the team at MCEC who worked tirelessly to ensure the smooth delivery of this huge event, which allows the community to make a difference to the lives of sick children and their families”.
The collaboration between MCEC and the Good Friday Appeal continues to demonstrate the power of community spirit.
ABOUT MCEC
At Melbourne Convention and Exhibition Centre (MCEC), visionary ideas come to life, and the world’s thought leaders gather. The iconic venue hosts dynamic exhibitions, conferences, galas, and concerts—everyone who visits leaves inspired and excited.MCEC loves all communities and interests, creating a space where everyone feels welcome. Blending trendy eats, sustainability, and cutting-edge tech, it creates mind-blowing, globally recognised events.
Thanks to its progressive sustainability practices, choosing MCEC means making a positive environmental impact. Feel Melbourne’s vibe, discover the next big thing, and be part of the conversation that shapes the future.
Acknowledgement of Country
Built on the banks of the Birrarung (Yarra River), Melbourne Convention and Exhibition Centre (MCEC) Acknowledges the Traditional Owners of Narrm, the Wurundjeri Woi Wurrung people of the Kulin Nation. We pay our respects to their Elders past and present, and to Elders of all First Nations communities that visit MCEC. We recognise the ongoing significance of the Birrarung to Traditional Owners as a life source and a meeting place for millennia and seek to honour this long-standing tradition of building community and exchanging ideas on these lands.
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MIL-OSI: Athene Survey Finds Sandwich Generation’s Retirement Plans Affected by Intergenerational Caregiving
Source: GlobeNewswire (MIL-OSI)
WEST DES MOINES, Iowa , April 22, 2025 (GLOBE NEWSWIRE) — A new survey conducted by Athene of the Sandwich Generation, defined as people aged 40-59 who provide financial or caregiving support to both adult children and elderly relatives, found that nearly three quarters (73%) of respondents have adjusted their retirement goals to support their adult children or aging relatives, including:1
- Delaying retirement (34%)
- Using retirement assets to support their family (22%)
- Not planning to retire at all (9%)
“As the retirement age population in the U.S. grows, the Sandwich Generation represents the next wave in America’s retirement crisis, with potential long-term implications for individuals, families and the economy,” said Mike Downing, Athene Chief Operating Officer.
Although the Sandwich Generation’s average age of expected retirement is 65, only 24% of respondents have a written retirement plan and 30% indicate they are concerned about having to rely on their children for financial support in retirement.
“Many retirees don’t have the luxury of assuming that the traditional ‘three legs’ of the retirement stool – social security, savings and investments, and workplace pensions – will fully secure their retirement,” said Downing. “Early preparation has never been more important.”
Among respondents who support older family members who have an income source, 83% say those family members depend on Social Security, which often doesn’t provide sufficient retirement income to cover a retiree’s full expenses. Only 14% have an annuity, which provides guaranteed income in retirement.
Guaranteed Income Can Support Financial Confidence
Among respondents who say they are not completely confident in their ability to provide support to family, approximately two-thirds (66%) say that increased income would improve their confidence, outweighing other factors including:
- Increased savings and investments (43%)
- Support from other family members (42%)
- Lower debt (38%)
Guaranteed income is one tool available through a financial professional that can help the Sandwich Generation manage the financial aspects of caregiving and plan for retirement. Importantly, respondents who had already incorporated guaranteed income into their financial strategies tended to have higher incomes, and reported more confidence, less stress and greater preparedness for retirement.
“As Americans face the financial responsibility of supporting their families, strategies to diversify their sources of income in retirement are more critical than ever,” said Downing. “Understanding your options and creating a plan are the most effective steps to balance the dual responsibilities of supporting family and securing your retirement.”
Significant Caregiving Impact on Women
Athene’s survey found that caregiving for adult children and elderly relatives affected women in the Sandwich Generation disproportionately, with women surveyed reporting higher levels of financial strain than men (53% vs. 40%). Women were also less likely than men to proactively plan their finances across a number of measures, putting them at an additional disadvantage when preparing for retirement:
- Seek advice from a financial professional (36% vs. 57%)
- Have a written retirement plan (19% vs. 30%)
- Discuss financial planning with elderly relatives (57% vs. 68%)
Financial Professional Support Critical
A trusted financial professional can help devise solutions. An overwhelming majority (90%) of respondents already working with a financial professional say that their relationship had a positive impact on their financial future.
Although the majority of respondents (53%) say they are concerned about maintaining their standard of living in retirement, those respondents not currently working with a financial professional were more likely to be worried about not having enough assets to retire (47% vs. 30%).
About Athene
Athene is the leading retirement services company, with over $360 billion of total assets as of December 31, 2024, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit www.athene.com.Contact:
Alyssa Castelli
Director, External Relations
+1 (646) 768-7304
Alyssa.castelli@athene.com
1 Athene contracted Harris Poll to survey 1,024 adults aged 40-59 who provide financial support to at least one adult child (aged 18 and out of high school) living in their home without significantly contributing to household expenses, and who provide financial or caregiving support to at least one elderly relative. The survey was conducted between January 2, 2025 and January 19, 2025.
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MIL-OSI: Ragnarok M: Classic (Chinese title: RO仙境傳說：守護永恆的愛 Classic) Ranked First in Taiwan, Second in Macau and Fourth in Hong Kong in Top Grossing of Apple App Store
Source: GlobeNewswire (MIL-OSI)
Seoul, South Korea , April 22, 2025 (GLOBE NEWSWIRE) — GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games, announced that GRAVITY Interactive, Inc., Gravity’s wholly-owned subsidiary, has officially launched Ragnarok M: Classic (Chinese title: RO仙境傳說：守護永恆的愛 Classic) (“Ragnarok M: Classic”), an MMORPG Mobile game, in Taiwan, Hong Kong and Macau on April 16, 2025 and the early success has been made, ranking among the top in launching markets.
Ragnarok M: Classic was officially launched in Taiwan, Hong Kong and Macau on April 16, 2025, available for download on both Mobile and PC. It has made remarkable performance after its launch by ranking second in free download of Google Play in Taiwan and Macau, first in free download of Apple App Store in Taiwan and second in Hong Kong and Macau. It also ranked first in top grossing of Apple App Store in Taiwan, second in Macau and fourth in Hong Kong. Ragnarok M: Classic received explosive response from local users, recording over 100,000 downloads, prominently featured on both major app stores and ranked second in mobile game rankings on Bahamut, a well-known gaming community, generating significant buzz on its first day of launch.
Gravity stated “We are pleased that Ragnarok M: Classic is achieving meaningful results in Taiwan, Hong Kong and Macau following its successful launch in Southeast Asia. To celebrate the official launch, we are hosting a variety of events and we look forward to continued interest and participation from users.”.
[Gravity Official Website]
http://www.gravity.co.kr[Ragnarok M: Classic (Chinese title: RO仙境傳說：守護永恆的愛 Classic) Google Play Download Page]
https://play.google.com/store/apps/details?id=com.gravityus.romzeny.aos[Ragnarok M: Classic (Chinese title: RO仙境傳說：守護永恆的愛 Classic) Apple App Store Download Page]
https://apps.apple.com/us/app/ragnarok-m-classic/id6602882281[Ragnarok M: Classic (Chinese title: RO仙境傳說：守護永恆的愛 Classic) Official Website]
https://classic.ragnaroketernallove.com/[Ragnarok M: Classic (Chinese title: RO仙境傳說：守護永恆的愛 Classic) Official Facebook Page]
https://www.facebook.com/RagnarokMClassic/[Ragnarok M: Classic (Chinese title: RO仙境傳說：守護永恆的愛 Classic) Official Discord Community]
About GRAVITY Co., Ltd. —————————————————
Gravity is a developer and publisher of online and mobile games. Gravity’s principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 regions. For more information about Gravity, please visit http://www.gravity.co.kr.
Contact:
Mr. Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: kheung@gravity.co.krMs. Jin Lee
Ms. Yujin Oh
IR Unit
Gravity Co., Ltd.
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7801 -
MIL-OSI China: ‘Ne Zha 2’ signals turning point for Chinese cinema, industry leaders say
Source: China State Council Information Office 3
Filmmakers and distributors gathered at an industry forum during the 15th Beijing International Film Festival on April 19 to discuss the global success of “Ne Zha 2” and its implications for China’s growing influence in the worldwide box office.
Catherine Ying, vice president of CMC Inc. and president of CMC Pictures, speaks at a forum during the 15th Beijing International Film Festival, April 19, 2025. [Photo courtesy of the BJIFF Organizing Committee]
“Ne Zha 2” represents a breakthrough moment not only for China’s domestic film industry but for global cinema as well, according to Catherine Ying, president of CMC Pictures, which distributed the animated blockbuster in North America, Australia and New Zealand.
Ying reported enthusiastic receptions in all markets where the film was released, with positive responses from both international filmmakers and audiences.
“This phenomenon demonstrated how a single film’s monumental success in one market could reaffirm cinema’s enduring power – proving films will never die but live on eternally in spirit,” she noted.
Since debuting during this year’s Spring Festival, “Ne Zha 2” has earned more than $2.16 billion globally, with $2.1 billion from China and $20.93 million from North America. The film stands as 2025’s top-grossing release, the highest-earning Chinese film ever and the highest-grossing animated film of all time. It currently ranks fifth on the all-time worldwide box office chart.
The executive said the release demonstrated that Chinese films require more robust promotion and distribution strategies to maximize success. Her team is now producing an English-dubbed version of “Ne Zha 2” for re-release, aiming to reach broader international viewers beyond Chinese diaspora communities.
“The film’s universal themes and emotional resonance connect with global audiences while showcasing China’s highest standards of animation production,” Ying said. She added that her company would apply lessons from this distribution experience to develop more targeted promotion strategies for upcoming Chinese blockbusters like “Ne Zha 3” and “The Wandering Earth 3.”
Filmmakers and distributors join a forum for exchanges at the 15th Beijing International Film Festival, April 19, 2025. [Photo courtesy of the BJIFF Organizing Committee]
Cedric Behrel, managing director of Trinity CineAsia, which distributed “Ne Zha 2” in Europe, said the film became the highest-grossing Chinese release in the region in two decades. He noted this milestone inspires both Chinese cinema and the global film industry, as the animated feature resonates deeply with international audiences, especially younger viewers. Behrel praised Chinese filmmakers for creating distinctive stories that transcend cultural barriers.
Veteran filmmaker Huang Jianxin expressed his belief that “Ne Zha 2” is inherently a film made for the world rather than a Chinese movie adapted for international audiences. He explained that director Jiaozi utilized a universal coming-of-age story about Nezha to create a film with innate worldwide appeal.
“This intrinsic global quality is why it succeeded internationally, not because we modified it to be understood across cultures,” Huang added.
He acknowledged competitive pressures from video games, short-form videos and other entertainment alternatives that cater to fragmented leisure time, questioning whether traditional film runtimes can still deliver value that justifies audiences’ time investment.
“This year marks 130 years of world cinema and 120 years of Chinese cinema,” Huang said. “Compared to art forms like music, dance, theater and painting with millennia of history, film is still an energetic child — one that will undoubtedly forge exciting new paths.”
He noted that while the North American box office has plateaued at around $10 billion annually, representing its industrial scale, the extraordinary performance of “Ne Zha 2” demonstrates how a single film can “break the ceiling.”
“But we can’t expect the ceiling to replace total scale,” Huang advised, urging peers to stay confident despite inevitable fluctuations. “China’s film industry will keep climbing.”
Director Andrew Lau, whose new film “The Dumpling Queen” releases April 30, strongly agreed. He reflected on Hong Kong cinema’s cyclical ups and downs: “Through peaks and valleys, filmmakers persist. The market may shift, but we stand united in our craft. We must keep striving to find great stories worth bringing to the screen and trying something new.”
IMAX China CEO Daniel Manwaring speaks at a forum during the 15th Beijing International Film Festival, April 19, 2025. [Photo courtesy of BJIFF Organizing Committee]
IMAX China CEO Daniel Manwaring presented research showing that while only 32-38% of Western audiences prefer theaters, China leads globally at 78%. “Last year was slow, but this Spring Festival proved Chinese audiences still love the big screen,” he said, emphasizing filmmakers’ responsibility to keep drawing audiences to theaters.
Manwaring said that IMAX will expand offerings like esports broadcasts to reach new demographics this year. Last year’s “League of Legends” World Championship screenings across 200 IMAX theaters in China attracted audiences who had largely abandoned cinemas, with data showing 80% hadn’t visited a cinema in five years. However, 90% said they planned to return.
Lau noted that cinema continually elevates the viewing experience through technological advancements. “Many audiences still don’t fully understand formats like Dolby or IMAX,” he said. “We need to better promote these tech things — to show people that watching films on phones can’t compare to the theatrical experience.”
Manwaring acknowledged the importance of theater technology but stressed that even the best marketing and presentation cannot save films with poor storytelling.
“Years ago, people rushed projects out to make quick money or recoup costs quickly — I understood that but felt most directors and screenwriters lacked time to develop good stories,” he said.
“Now the industry is changing, slowing down to prioritize quality, especially after seeing what patiently developed projects like “Ne Zha 2″ can achieve,” he said.
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MIL-OSI Asia-Pac: Unemployment rate stays at 3.2%
Source: Hong Kong Information Services
The seasonally adjusted unemployment rate stood at 3.2% in the January to March period, same as that in December 2024 to February 2025, the Census & Statistics Department announced today.
The underemployment rate remained at 1.1%.
Total employment was 3,692,700, down 16,800 from December 2024 to February 2025, while the labour force also dropped 5,800 to 3,815,500.
The number of unemployed people increased from 111,700 to 122,800. Meanwhile, the number of underemployed people increased from 40,700 to 42,700.
Secretary for Labour & Welfare Chris Sun said the increasingly uncertain external environment due to escalated trade conflicts may weigh on hiring sentiment in some sectors.
Nonetheless, the continued growth of the Mainland economy, supported by the central government’s boosting policies, alongside the Hong Kong Special Administrative Region Government’s various policy measures to continuously promote economic growth and support enterprises, are expected to provide support to labour demand, he added.
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MIL-OSI Asia-Pac: Welfare cases drop 0.1% in March
Source: Hong Kong Information Services
The overall Comprehensive Social Security Assistance caseload dropped by 194 cases to 195,581 in March, down 0.1% from February, the Social Welfare Department announced today.
Ill-health cases fell by 0.3% month on month to 27,689. Permanent disability cases and single parent cases both decreased 0.2%, to 16,667 and 18,993 cases respectively.
Old age cases and unemployment cases both dropped 0.1%, to 110,846 and 16,057 cases respectively.
Meanwhile, low-earnings cases registered an increase of 0.1%, to reach 1,356 cases.
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MIL-OSI Economics: RBI cancels the licence of Ajantha Urban Co-operative Bank Maryadit, Aurangabad
Source: Reserve Bank of India
The Reserve Bank of India (RBI), vide order dated April 21, 2025, has cancelled the licence of “Ajantha Urban Co-operative Bank Maryadit, Aurangabad”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 22, 2025. The Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank cancelled the licence of the bank as:
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The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22(3)(d) read with Section 56 of the Banking Regulation Act, 1949;
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The bank has failed to comply with the requirements of Sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
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The continuance of the bank is prejudicial to the interests of its depositors;
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The bank with its present financial position would be unable to pay its present depositors in full; and
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Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, “Ajantha Urban Co-operative Bank Maryadit, Aurangabad” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees Five Lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 91.55% of the depositors are entitled to receive full amount of their deposits from DICGC. As on April 03, 2025, DICGC has already paid ₹275.22 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Puneet Pancholy)
Chief General ManagerPress Release: 2025-2026/151
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MIL-Evening Report: To truly understand Pope Francis’ theology – and impact – you need to look to his life in Buenos Aires
Source: The Conversation (Au and NZ) – By Fernanda Peñaloza, Senior Lecturer in Latin American Studies, University of Sydney
Pope Francis’ journey from the streets of Flores, a neighbourhood in Buenos Aires, Argentina, to the Vatican, is a remarkable tale.
Born in 1936, Jorge Bergoglio was raised in a middle-class family of Italian Catholic immigrants.
Bergoglio defied his mother’s wish for him to become a medical doctor and chose instead to pursue priesthood, a calling he felt during confession. The young man joined the Jesuits in the 1950s, attracted to the order’s vow of poverty and its ethos of serving others and living simply.
He became a priest in 1969, Archbishop of Buenos Aires in 1998, and took on the papacy in 2013. As Pope Francis, his dedication to social justice was deeply rooted in the Latin American context.
The region’s history of inequality, poverty and political upheaval greatly influenced his perspective.
The young Argentinian priest
Bergoglio, a devoted supporter of the San Lorenzo soccer team, was also a confident tango dancer, mate drinker, and an unconditional admirer of his compatriot, Jorge Luis Borges, one of the most influential writers of the 20th century.
In 1965, the two men collaborated on the publication of short stories written by Bergoglio’s literature students. The students had been inspired by a seminar led by Borges, organised by the young priest.
Borges thought highly of Bergoglio, finding him charming and intelligent. For Borges, Bergoglio was a Jesuit through and through, noting the clerics of that order had been historically transgressive as well as possessors of a good sense of humour.
While Borges never saw him transformed into Pope Francis, his observations somehow fit with the respect Bergoglio earned as a global leader.
Theology of the people
As Archbishop of Buenos Aires, he lived modestly, often taking public transport and dedicating himself to the poor and disenfranchised. He personally attended the needs of underprivileged neighbourhoods known as villas miseria (literally “misery towns”) in Argentine Spanish.
He was a vocal opponent to economic inequality. During the 2001 Argentine economic crisis he advocated for the rights and dignity of impoverished citizens.
Pope Francis hails from a region deeply influenced by the progressive movements of Catholic priests and nuns, who were significantly inspired by liberation theology during the 1960s in Latin America.
Liberation theology developed in Latin America during the latter part of the 20th century, as a reaction to significant political and theological transformations in the area. It believed in political liberation for the oppressed, inspired by the Cuban Revolution and Second Vatican Council by Pope John XXIII, both in 1959.
While Francis did not fully subscribe to the tenets of liberation theology, much of his dedication to social justice aligns with its ideals. Pope Francis’ social awareness was deeply shaped by the “theology of the people”.
Distinct to Argentina, and emerging in the 1960s, the theology of the people shared liberation theology’s focus on social justice, but is devoid of Marxist ideology, and emphasises the dignity and agency of the marginalised and the impoverished.
During Argentina’s dictatorial regime from 1976–83, Bergoglio led the Jesuits. But he did not adopt the highly dangerous stance of full opposition typical among liberation theologians elsewhere in Argentina and other parts of Latin America.
Commenting on Latin American affairs
In his early years as the Pope, he resonated with progressive Catholics across Latin America, because of his grounding in Argentinian theology and his focus on social justice. But in recent years, his popularity in some Latin American countries declined.
In Argentina, this dip in enthusiasm is partly attributed to his decision not to visit, despite travelling to neighbouring nations.
More profoundly, the decline likely stems from his fixed stance against contentious issues such as same-sex marriage and abortion. To the disappointment of many Argentines and other Latin American citizens, he refused to compromise.
Throughout his papacy, Pope Francis received all Argentine presidents – even those who were previously critical of him, such as Cristina Fernández de Kirchner.
He maintained a strong connection to his Buenos Aires roots and remained engaged with Argentina’s social and political landscape, often commenting on situations that provoke strong reactions from politicians.
He was a critic of policies instituted by the current President of Argentina, Javier Milei, particularly Milei’s libertarian model of economy and the government’s brutal response to public dissent and opposition. In September 2024, the Pope famously said:
the government put its foot down: instead of paying for social justice, it paid for pepper spray.
An alternative model of leadership
By reflecting on how Pope Francis’ theology is rooted in the Argentina he grew up in, we can better understand his actions as Pope.
He made significant contributions in the Latin American region. He played a mediating role between the United States and Cuba, supported the peace process in Colombia, and highlighted the environmental devastation caused by mining companies in the Amazon.
He publicly apologised to Indigenous peoples of Latin America for the Church’s historical complicity with colonialism, and acknowledged his inaction allowed the Chilean clergy to overlook sexual abuse cases.
He appointed clergymen from non-European countries, enhancing representation from Asia, Africa and Latin America and increased the participation of women within the Church’s leadership structures.
His landmark encyclical, Laudato Si’, underscored the moral imperative to address climate change, inspiring accolades from global leaders. His critique of Israel and the conflict in Gaza underscored his consistent opposition to war and advocacy for peace.
Despite existing tensions and contradictions within his papacy – particularly regarding the Church’s stance on LGBTQIA+ issues and women’s rights – Pope Francis’s approach to global issues remained steadfast and aligned with his core values, and the Buenos Aires he came of age in.
Francis’s leadership is a product of his upbringing and a catalyst for regional and global dialogue on social justice.
The profound influence of the Latin American region on him is well captured by long time friend, Uruguayan lawyer and activist, Guzman Carriquiry who described the Pope as:
Priest, and profoundly priest; Jesuit and profoundly Jesuit; Latin American, and profoundly Latin American.
Fernanda Peñaloza 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. To truly understand Pope Francis’ theology – and impact – you need to look to his life in Buenos Aires – https://theconversation.com/to-truly-understand-pope-francis-theology-and-impact-you-need-to-look-to-his-life-in-buenos-aires-255003
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MIL-OSI Asia-Pac: “The Hong Kong Jockey Club Series: Cézanne and Renoir Looking at the World – Masterpieces from the Musée de l’Orangerie and the Musée d’Orsay” exhibition at HKMoA extended to May 14 (with photos)
Source: Hong Kong Government special administrative region
“The Hong Kong Jockey Club Series: Cézanne and Renoir Looking at the World – Masterpieces from the Musée de l’Orangerie and the Musée d’Orsay” exhibition at HKMoA extended to May 14
Renoir’s use of colour, light and shadow in his works played a pivotal role in the development of Impressionism. Cézanne’s art theory, meanwhile, laid the groundwork for the development of various art styles in the 20th century, unveiling a new era in modern art. Hong Kong is the first stop on the Asia tour of the exhibition, featuring 52 iconic works from the renowned Musée de l’Orangerie and the Musée d’Orsay, 51 of which are debuting in Hong Kong, including still life paintings with fruits and flowers, landscapes, portraits, and paintings of bathers. The exhibits serve as a testament to the remarkable artistic achievements of Cézanne and Renoir, highlighting the intersections in their careers.
Highlight exhibits include Cézanne’s “Apples and Biscuits”, “Still Life with Soup Tureen” and “Landscape with Red Roof (The Pine at l’Estaque)” and Renoir’s “Claude Renoir in Clown Costume”, “Nude in a Landscape” and “Bouquet in a Theatre Box”. The exhibition also showcases two invaluable artworks, “Large Still Life” and “Large Nude with Drapery”, from Spanish artist Pablo Picasso to demonstrate how the innovations of the two Impressionists inspired the next generation of great masters.
The HKMoA has created an education corner that mimics a French train platform, inviting visitors to board a time-travel train and immerse themselves in the creative worlds of Cézanne and Renoir. The Hong Kong version of this exhibition also features specially designed simulated conversations between the two masters, footprint maps, and more. These elements highlight the fascinating lives and enduring friendship of these two iconic artists.
The HKMoA has also invited two Hong Kong artists, Trevor Yeung and Lai Kwan-ting, to draw inspiration from the works of the two art masters and create their own new art. In “Garden Cruising: Bathers and Watchers”, an art installation with photographic works and large soft sculptures, Yeung explores the idea of the gaze associated with the depiction of nudity in the bathers painting series by Cézanne. Inspired by the still life works and portraits of the two French masters, Lai Kwan-ting’s installation work, “Everyday Whispers”, creates figure and landscape paintings with contemporary Chinese ink painting that capture fleeting moments in daily life, reinterpreting the styles of the two masters from a 21st-century perspective.
The exhibition is being staged at the Special Gallery on the second floor of the HKMoA (10 Salisbury Road, Tsim Sha Tsui, Kowloon). The admission fees for this exhibition are $50 for standard tickets, $35 for group tickets (groups of 20 persons or more) and $25 for full-time students, people with disabilities (and one accompanying minder), senior citizens aged 60 or above and Comprehensive Social Security Assistance recipients. Tickets for the exhibition are available up to seven days in advance at all URBTIX outlets and self-service ticketing kiosks at the HKMoA or other designated locations (www.urbtix.hk/kiosk
The exhibition is solely sponsored by the Hong Kong Jockey Club Charities Trust, presented by the LCSD, and jointly organised by the HKMoA, the Musée de l’Orangerie and the Musée d’Orsay. For details of the exhibition, please visit the website at hk.art.museum/en/web/ma/exhibitions-and-events/cezanne-and-renoir-looking-at-the-world.html
Issued at HKT 15:30NNNN
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MIL-OSI Asia-Pac: Bureau of Indian Standards announces 500 internships for students from MoU partner institutions
Source: Government of India
Bureau of Indian Standards announces 500 internships for students from MoU partner institutions
Internship programme to promote standardisation awareness and practical engagement in industriesConvention marks renewed commitment to embed quality and standards culture in Indian academia
Posted On: 22 APR 2025 12:51PM by PIB Delhi
The Bureau of Indian Standards (BIS), the National Standards Body under the Government of India, announced internship opportunities for 500 students from its partner institutions in the field of standardisation. The announcement was made at the Annual Convention of BIS Standardisation Chairs and Nodal Faculty of MoU Partner Institutions, held recently.
The internships will be offered to students enrolled in 4-year degree courses, 5-year integrated degree courses, postgraduate degrees, and diploma programmes. The 8-week internship will include pre-standardisation work in two key industries, QCO (Quality Control Order) compliance surveys in collaboration with BIS offices, and site visits to large-scale units, MSMEs and laboratories. Students will undertake detailed studies on manufacturing and testing processes, raw materials, in-process controls, and other aspects of product quality and conformity assessment.
Key achievements of the BIS-Academia interface include:
- Standardisation modules have been incorporated into the curriculum of 15 institutes.
- More than 130 research and development projects have been commissioned.
- Over 50 institutions have established BIS Corners and Academic Dashboards.
- A total of 198 Standards Clubs have been formed across 52 institutes.
- More than 3,400 students from 74 institutes participated in national quizzes.
- 500 student internships are planned for the 2025-26 academic year.
Director General, BIS, Shri Pramod Kumar Tiwari in his inaugural address, said, that this partnership is a shared national mission to embed a culture of quality and standardisation across academia. Deputy Director General (Standardisation), BIS, Shri Rajeev Sharma encouraged institutions to foster action-oriented collaborations and contribute actively to the country’s quality ecosystem.
The convention hosted technical sessions on curriculum integration, standards formulation, student engagement through Standards Clubs, and other promotional activities. In an open house discussion, partner institutions shared best practices and innovative models for academic collaboration.
The event concluded with a collective resolve to strengthen the culture of standardisation across Indian academia, empowering students and faculty to meaningfully engage with national and global quality systems.
Representatives from 58 partner institutes participated in the convention. Five institutions— IIT Roorkee, SSEC Chennai, NIT Jalandhar, SVCE Chennai, and PSNACET Dindigul—were felicitated for their exceptional performance in BIS-related activities as per the MoU.
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Abhishekh Dayal/ Nihi Sharma/ Ishita Biswas
(Release ID: 2123394) Visitor Counter : 68
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MIL-OSI Asia-Pac: Chinese Culture Festival 2025 to hold free Chinese opera talks and exhibition
Source: Hong Kong Government special administrative region
To promote the culture and artistic features of Chinese opera among members of the public, the Chinese Opera Festival (COF), as a core part of the Chinese Culture Festival (CCF) 2025, will organise a number of free talks, masterclasses and an exhibition from May to August to introduce various theatrical genres, performance styles, repertoire appreciation and more from various perspectives.
Talks on the Three Kingdoms Opera
——————————————————————-Veteran Cantonese opera performing artist Yuen Siu-fai will host four talks to discuss the classic plays from the “Three Kingdoms” story that will be staged in this year’s COF from the perspectives of character portrayal, the art of adaptation, strategic plots in the storylines and genre variations.
Topic: Character Portrayal in Staging “Three Kingdoms” Stories: Zhuge Liang and Jiang Wei
Date: May 17 (Saturday)
Topic: On the Adaptation of Stories from the “Three Kingdoms” for the Stage – With Examples from Excerpts and Full-length Plays
Date: May 24 (Saturday)
Topic: On the Strategic Plots: “Invoking the East Wind” and “Returning to Jingzhou”
Date: May 31 (Saturday)
Topic: Stories from the “Three Kingdoms”: From History and Literature to Traditional Theatre
Date: June 7 (Saturday)
Talks on the Art of Kunqu Opera
——————————————————————-This year’s COF features three Kunqu opera performances. Three talks will be given by seasoned Kunqu art researcher Cheung Lai-chun, who will guide audiences through the culture and stories behind the plays as well as their exquisite stage interpretations.
Topic: Appreciation of “Fifteen Strings of Cash”
Date: May 18 (Sunday)
Topic: Appreciation of “Kneeling by the Pond” from “The Lioness Roars” and “Rendezvous at the Pavilion” from “Red Pear Blossom”
Date: May 25 (Sunday)
Topic: Appreciation of “Entrusting His Son” from “The Beauty Washing Silk by the River” and “Cancelling the Birthday Celebrations” from “The Pavilion of Chanting in the Wind”
Date: June 1 (Sunday)
Talks on the Culture of Chinese Opera
——————————————————————-This year’s COF features regional operatic genres that are rarely seen by Hong Kong audiences – Yuediao opera of Henan and Qinqiang opera of Shaanxi, along with selected Chinese operas based on the “Romance of the Three Kingdoms”. Scholar of Chinese opera Lum Man-yee will deliver two talks, covering the evolution of “Three Kingdom” operas and the characteristics of female performers playing “xusheng” (bearded male) role in Yuediao and Qinqiang traditions respectively.
Topic: Staging “Three Kingdoms” stories: from Southern Operas of the Song and Yuan Periods to Regional Operas of Today
Date: June 8 (Sunday)
Topic: Heroine Women Playing Middle-aged Men: the “Bearded Male” Cross-dressing Roles in Yuediao Opera of Henan and Qinqiang Opera of Shaanxi
Date: June 15 (Sunday)
The Talks on “Three Kingdoms” Opera, Talks on the Art of Kunqu Opera and Talks on the Culture of Chinese Opera will be conducted in Cantonese and will be held at 2.30pm at AC2, Level 4, Administration Building, Hong Kong Cultural Centre. Admission is free, and online registration is required (www.lcsd.gov.hk/CE/CulturalService/Programme/en/chinese_opera/programs_1839.html#tab_13_0). Limited seats are available on a first-come, first-served basis.
Masterclasses and Demonstration Talk of Kunqu Opera
——————————————————————-Main cast members of the Zhejiang Jingkun Art Center (Kun Opera Troupe) will host masterclasses and a demonstration talk delving into the techniques of sheng (male) and dan (female) role performances as well as the art of music and singing of Kunqu opera respectively.
Masterclasses of Kunqu Opera:
Venue: AC2, Level 4, Administration Building, Hong Kong Cultural Centre
Moderator: Chan Chun-miu
Topic: The Crafting of Dan (Female) Roles in Kunqu
Date and time: August 14 (Thursday), 2pm
Master: Hu Ping
Topic: The Crafting of Sheng (Male) Roles in Kunqu
Date and time: August 14 (Thursday), 4pm
Master: Zeng Jie
Demonstration Talk of Kunqu Opera:
Venue: Theatre, Block I, Jao Tsung-I Academy
Moderator: Cheung Lai-chun
Topic: Kunqu Classics as a Living Tradition
Date and time: August 18 (Monday), 5pm
Speakers: Wu Xinyi, Wang Hengtao
Masterclasses and Demonstration Talk of Kunqu Opera will be conducted in Putonghua. Admission is free, and online registration is required (www.lcsd.gov.hk/CE/CulturalService/Programme/en/chinese_opera/programs_1839.html#tab_13_0). Limited seats are available on a first-come, first-served basis.
Exhibition
——————————————————————-A “Three Kingdoms in Chinese Opera” Exhibition will be held at Hong Kong Cultural Centre and Yuen Long Theatre from May to August. The exhibition will illuminate the make-up, costumes and stage artistry of key characters in Chinese opera “Three Kingdoms” repertoires, showcasing the arts across opera genres. Admission is free.
Period: May 27 (Tuesday) to June 7 (Saturday)
Venue: Foyer Exhibition Area, Hong Kong Cultural Centre
Period: July 16 (Wednesday) to August 1 (Friday)
Venue: Exhibition Corner, Yuen Long Theatre
In addition to the above-mentioned talks, masterclasses and exhibition, extended activities including meet-the-artists sessions, a backstage tour and a demonstration performance of Peking opera will be held during the CCF period to promote the artistry and culture of Chinese traditional opera. For more information about the events, please call 2268 7325 or visit www.lcsd.gov.hk/CE/CulturalService/Programme/en/chinese_opera/programs_1839.html.
The CCF, presented by the Culture, Sports and Tourism Bureau and organised by the Chinese Culture Promotion Office under the Leisure and Cultural Services Department, aims to promote Chinese culture and enhance the public’s national identity and cultural confidence. It also aims to attract top-notch artists and arts groups from both the Mainland and other parts of the world for exchanges in Chinese arts and culture. The CCF 2025 will be held from June to September. Through different performing arts programmes in various forms and related extension activities, including selected programmes of the COF, “Tan Dun WE-Festival”, film screenings, exhibitions, as well as community and school activities and more, the festival provides members of the public and visitors with more opportunities to enjoy distinctive programmes that showcase fine traditional Chinese culture, thereby facilitating patriotic education and contributing to the inheritance, transformation and development of traditional Chinese culture in Hong Kong. For more information about programmes and activities of the CCF 2025, please visit www.ccf.gov.hk. -
MIL-OSI Asia-Pac: PM’s Departure Statement on the eve of his visit to the Kingdom of Saudi Arabia
Source: Government of India
Posted On: 22 APR 2025 8:30AM by PIB Delhi
Today, I embark on a two-day State visit to the Kingdom of Saudi at the invitation of Crown Prince and Prime Minister, His Royal Highness Prince Mohammed bin Salman.
India deeply values its long and historic ties with Saudi Arabia that have acquired strategic depth and momentum in recent years. Together, we have developed a mutually beneficial and substantive partnership including in the domains of defence, trade, investment, energy and people to people ties. We have shared interest and commitment to promote regional peace, prosperity, security and stability.
This will be my third visit to Saudi Arabia over the past decade and a first one to the historic city of Jeddah. I look forward to participating in the 2ndMeeting of the Strategic Partnership Council and build upon the highly successful State visit of my brother His Royal Highness Prince Mohammed bin Salman to India in 2023.
I am also eager to connect with the vibrant Indian community in Saudi Arabia that continues to serve as the living bridge between our nations and making immense contribution to strengthening the cultural and human ties.
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MJPS
(Release ID: 2123341) Visitor Counter : 21
