NewzIntel.com

Category: Asia

  • MIL-OSI: BSN Finance Outperforms the Competition—Voted Best Australian Trading Company

    Source: GlobeNewswire (MIL-OSI)

    Singapore, March 19, 2025 (GLOBE NEWSWIRE) — In a defining moment for Australia’s financial sector, BSN Finance has been named the Best Australian Trading Company, solidifying its reputation as a market leader in cutting-edge trading solutions. This recognition comes as BSN Finance continues to outperform competitors, providing investors with powerful analytics, seamless execution, and data-driven market insights.

    As the demand for high-performance trading platforms grows, BSN Finance has emerged as the top choice for traders and investors across Australia, thanks to its advanced technology, real-time stock indicators, and institutional-grade execution speeds.

    A Market Leader in Trading Innovation

    Winning the title of Best Australian Trading Company is a testament to BSN Finance’s commitment to delivering cutting-edge solutions for stock market investors. The platform’s award-winning technology integrates:

    • Real-time stock analytics to help investors identify optimal trade opportunities.
    • High-speed execution capabilities, reducing slippage and maximizing returns.
    • Smart risk management tools for greater portfolio stability.
    • Customizable trading dashboards, tailored for Australian market conditions.

    By leveraging machine learning, advanced data analysis, and automated trading insights, BSN Finance ensures investors gain a competitive edge in stock trading.

    Why Australian Investors Prefer BSN Finance

    With a strong focus on the Australian Securities Exchange (ASX), BSN Finance provides localized insights and market-specific trading tools that help traders navigate the Australian stock market with precision.

    Unlike global platforms that cater to multiple regions, BSN Finance is uniquely designed to meet the needs of Australian investors, ensuring optimized trade execution, relevant stock data, and real-time analysis tailored for the ASX.

    This localized approach has driven a surge in user satisfaction, with traders praising the platform’s efficiency, accuracy, and ease of use.

    What Traders Are Saying About BSN Finance

    The impact of BSN Finance is best reflected in the experiences of its growing community of traders:

    Michael T., Sydney – “I’ve used multiple trading platforms, but BSN Finance is by far the best. The real-time stock indicators have helped me make smarter investment decisions, and the execution speed is unmatched!”

    Samantha L., Melbourne – “As a long-term investor, I rely on accurate market insights. BSN Finance gives me the data I need to analyze trends effectively, and their risk management tools have made my portfolio much more secure.”

    Daniel R., Brisbane – “I was skeptical about switching platforms, but BSN Finance has exceeded my expectations. The depth of market data and seamless interface make trading easier and more efficient than ever!”

    Emily K., Perth – “I love how BSN Finance is built for Australian traders. Their ASX-focused analytics are a game-changer, and I finally feel like I have the tools I need to trade with confidence.”

    Setting the Benchmark for Trading Technology

    As trading technology continues to evolve, BSN Finance remains committed to pushing the boundaries of market intelligence and execution performance. By focusing on data-driven trading solutions, the platform ensures that Australian investors have access to world-class tools and real-time insights to stay ahead of the market.

    The recognition as Best Australian Trading Company is a reflection of BSN Finance’s dedication to continuous improvement, innovation, and investor success.

    About BSN Finance

    BSN Finance is a premier financial technology company, providing advanced trading solutions for Australian investors. With a focus on market analytics, portfolio management tools, and cutting-edge execution technology, the platform is designed to help traders maximize their performance in the stock market.

    The MIL Network –

  • MIL-OSI USA: Senators Coons, colleagues introduce bipartisan bill to strengthen medical supply chains

    US Senate News:

    Source: United States Senator for Delaware Christopher Coons
    WASHINGTON – U.S. Senators Chris Coons (D-Del.), Thom Tillis (R-N.C.), John Cornyn (R-Texas), and Michael Bennet (D-Colo.) introduced the Medical Supply Chain Resiliency Act, bipartisan legislation to jump start trade negotiations to ensure that hospitals, doctors, and patients have access to critical medical goods. U.S. Representatives Brad Schneider (D-Ill.) and Nicole Malliotakis (R-N.Y.) introduced companion legislation in the House. 
    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die,” said Senator Coons. “Working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring that health care providers have access to essential medical products and patients have access to life-saving care.”
    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need,” said Senator Tillis. “By strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health.” 
    “America’s medical supply chains rely heavily on China, posing risks to U.S. national security and public health,” said Senator Bennet. “Our bipartisan bill will address this vulnerability by authorizing the president to deepen relationships with our trading partners.”
    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China,” said Senator Cornyn. “This legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises.”
    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies,” said Brad Wood, Senior Director for Trade and Innovation Policy, National Foreign Trade Council.“By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage.”
    “Premier commends Senators Thom Tillis, Chris Coons, John Cornyn and Michael Bennet and Representatives Brad Schneider and Nicole Malliotakis for their bipartisan leadership in reinforcing the resilience of our nation’s healthcare supply chain,” said Soumi Saha, Senior Vice President of Government Affairs, Premier Inc. “Building a stronger, more sustainable, and secure supply chain demands a balanced approach – expanding domestic manufacturing while fostering strategic trade partnerships. The Medical Supply Chain Resiliency Act is a critical step toward this goal by enabling the designation of trusted trade partners to diversify sourcing for medical devices and pharmaceuticals. Ensuring providers have reliable access to the essential supplies needed to deliver quality patient care is a paramount priority for our nation.”
    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners,” said John Murphy, Senior Vice President for International Policy, U.S. Chamber of Commerce. “Enhancing the resilience of medical supply chains is important to both our public health and our national security. The bill would direct the U.S. Trade Representative to negotiate trade agreements with trusted allies to eliminate tariffs and other trade barriers that weaken the U.S. medical goods manufacturing base and that of our allies. These agreements would also support intellectual property protection, regulatory cooperation, and collaboration on public and private R&D efforts. Only close allies and partners would qualify for such agreements. Close consultation with the legislative branch would be essential, and Congress would retain a right to disapprove any agreements. This is practical legislation that, if enacted, will apply lessons learned in the COVID-19 pandemic to strengthen America’s health preparedness. The Chamber urges Congress to pass it into law.”
    “Authorizing the administration to negotiate meaningful trade agreements with trusted partners, including the European Union, Japan, Switzerland, and the United Kingdom, would reduce trade barriers and strengthen medical supply chains. The biopharmaceutical industry, whose exports exceeded $101 billion in 2023, welcomes the Medical Supply Chain Resiliency Act and encourages the administration to embrace this pathway to expand trade with allies,” said PhRMA. 
    The COVID-19 pandemic presented significant challenges for supply chains around the world, disproportionately hampering health care providers’ access to medical devices, treatments, and equipment at a time when these products were desperately needed. By expanding U.S. engagement with our allies across the globe, this legislation would combat shortages of medical products and supplies by strengthening supply chain resiliency and safeguarding against future health crises. 
    You can read the full text of the bill here.

    MIL OSI USA News –

  • MIL-OSI USA: SPC Mar 19, 2025 1630 UTC Day 1 Convective Outlook

    Source: US National Oceanic and Atmospheric Administration

    SPC AC 191559

    Day 1 Convective Outlook
    NWS Storm Prediction Center Norman OK
    1059 AM CDT Wed Mar 19 2025

    Valid 191630Z – 201200Z

    …THERE IS AN ENHANCED RISK OF SEVERE THUNDERSTORMS THIS
    AFTERNOON/EVENING FOR PARTS OF CENTRAL/NORTHERN ILLINOIS AND WEST
    CENTRAL INDIANA…

    …SUMMARY…
    Scattered severe thunderstorms are possible this afternoon/evening
    from central/northern Illinois to western Indiana. A few tornadoes,
    large hail, and damaging wind gusts will be possible.

    …IL/IN vicinity into early tonight…

    A deep (990mb) surface low over northwest MO this morning will
    continue to shift east into northern IL through late afternoon, and
    into IN/MI and southern Ontario overnight. Meanwhile, the exit
    region of a 90-100+ kt 500 mb jet will overspread IL/IN this
    afternoon into early evening.

    Cloud cover and elevated convection this morning across IA and
    northern IL, along with lofted dust moving over the region may
    inhibit heating to some degree into the afternoon. Furthermore,
    boundary layer moisture is expected to remain modest, most likely in
    the 51-54 F range given 15z upstream observations in the low 50s F.
    If any stronger heating occurs, mixing may further limit dewpoints
    from climbing into the mid/upper 50s F as suggested by some forecast
    guidance. Nevertheless, cold temperatures aloft (-17 C on 12z RAOBs
    from DVN) will support steep midlevel lapse rates and modest
    destabilization into the early afternoon. A dryline is noted across
    central MO at 15z. This feature will continue to sweep east into the
    afternoon and become a focus for stronger thunderstorm development
    across IL by 18-19z.

    Vertical shear will be favorable for supercells given elongated
    hodographs with enlarged, looping low-level hodographs. These
    vertical wind profiles are already evident in VWP data from DVN and
    LOT where a west to east oriented surface warm front is roughly
    aligned across east-central IA/northern IL. Evolution of modest
    boundary layer moisture will be key for determining the tornado risk
    this afternoon across IL/IN. If dewpoints can reach 55-56 F, a
    localized area of enhanced tornado potential may develop. While some
    risk for tornadoes will still exist with lower dewpoints, the risk
    would be more muted and likely less intense. Given the conditional
    risk for a strong tornado or two, will maintain the 10 percent SIG
    tornado risk. Otherwise, somewhat low-topped supercells will also
    pose a risk for damaging gusts of 60-70 mph and isolated large hail
    up to 1-1.5 inches in diameter. Isolated convection may develop
    southward along the dryline/cold front into western/central KY by
    late afternoon before convection weakens after sunset.

    …TN/MS/AL vicinity this afternoon/evening…

    Dewpoints have gradually increased into the mid 50s late this
    morning. Continued warm advection ahead of a wind shift this
    afternoon should allow dewpoints to reach the upper 50s to low 60s
    F. While forcing for ascent will be weak compared to further north,
    it should be sufficient to erode capping in the persistent warm
    advection regime. Instability will remain modest, generally
    near/less than 500 J/kg MLCAPE. While vertical shear will be quite
    strong, this should limit updraft intensity/longevity. A broken band
    of storms may still pose a risk for a few strong gusts.

    ..Leitman/Bunting.. 03/19/2025

    CLICK TO GET WUUS01 PTSDY1 PRODUCT

    NOTE: THE NEXT DAY 1 OUTLOOK IS SCHEDULED BY 2000Z

    MIL OSI USA News –

  • MIL-OSI USA: SPC Mar 19, 2025 1300 UTC Day 1 Convective Outlook

    Source: US National Oceanic and Atmospheric Administration

     For best viewing experience, please enable browser JavaScript support.

    Mar 19, 2025 1300 UTC Day 1 Convective Outlook

    Updated: Wed Mar 19 12:45:23 UTC 2025 (Print Version |   |  )

    Probabilistic to Categorical Outlook Conversion Table

     Forecast Discussion

    SPC AC 191245

    Day 1 Convective Outlook
    NWS Storm Prediction Center Norman OK
    0745 AM CDT Wed Mar 19 2025

    Valid 191300Z – 201200Z

    …THERE IS AN ENHANCED RISK OF SEVERE THUNDERSTORMS THIS
    AFTERNOON/EVENING FOR PARTS OF CENTRAL/NORTHERN ILLINOIS AND WEST
    CENTRAL INDIANA…

    …SUMMARY…
    Scattered severe thunderstorms are possible this afternoon/evening
    from central/northern Illinois to western Indiana. A few tornadoes,
    large hail, and damaging wind gusts will be possible.

    …IL/IN this afternoon into early tonight…
    A deep (989 mb) cyclone near the northeast KS/northwest MO border
    will move northeastward to northern IL by this evening and Lower MI
    overnight, in conjunction with a deep midlevel trough and 100+ kt
    midlevel jet streak. Elevated convection is ongoing this morning in
    a zone of focused ascent with warm advection/frontogenesis across
    IA, where isolated large hail may occur with MUCAPE around 500 J/kg
    and steep midlevel lapse rates/cool midlevel temperatures. The warm
    sector of the cyclone is characterized by a narrow/modest corridor
    of returning moisture (low-mid 50s boundary-layer dewpoints) that
    will overspread MO/IL through the afternoon. Surface heating in
    cloud breaks, continued moisture advection and relatively cool
    midlevel temperatures will all contribute to warm sector
    destabilization (MLCAPE 500-750 J/kg) through the afternoon across
    IL.

    Surface-based thunderstorm development will become probable by
    early-mid afternoon in a broken band along and just ahead of a
    remnant dryline moving from MO into IL, and storms will subsequently
    move eastward/northeastward into IN by early tonight before
    weakening gradually. The deeper buoyancy profiles will be on the
    cyclonic side of the midlevel jet, where 500 mb temperatures will be
    < -20 C. Forecast wind profiles suggest supercell potential with long hodographs (effective bulk shear vectors >50 kt), and
    sufficient low-level hodograph curvature/shear for tornado
    potential. The primary uncertainty centers of the degree of
    low-level moistening/destabilization, and the current forecast
    represents a conditional/reasonable worst case scenario. Otherwise,
    occasional large hail (1-1.5 inches in diameter) will be possible in
    IL this afternoon/evening, and the threat for damaging gusts (60-70
    mph) and a couple of tornadoes will persist into IN through early
    tonight.

    …TN/MS/AL this afternoon/evening…
    Boundary-layer dewpoints will slowly increase to the upper 50s/lower
    60s ahead of the surface wind shift moving across AR/LA this
    afternoon. Forcing for ascent should be sufficient to remove the
    cap, allowing some deep convection in a broken band this
    afternoon/evening. Buoyancy will be relatively weak compared to the
    vertical shear, so it will be difficult to get sustained severe
    storms and isolated wind damage will be the most probable threat.

    ..Thompson/Dean.. 03/19/2025

    CLICK TO GET WUUS01 PTSDY1 PRODUCT

    .html”>Latest Day 2 Outlook/Today’s Outlooks/Forecast Products/Home

    MIL OSI USA News –

  • MIL-OSI USA: SPC Tornado Watch 57

    Source: US National Oceanic and Atmospheric Administration

    Note:  The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports.
    SEL7

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Tornado Watch Number 57
    NWS Storm Prediction Center Norman OK
    1215 PM CDT Wed Mar 19 2025

    The NWS Storm Prediction Center has issued a

    * Tornado Watch for portions of
    Far Eastern Iowa
    Northern and Central Illinois
    Western Indiana

    * Effective this Wednesday afternoon and evening from 1215 PM
    until 900 PM CDT.

    * Primary threats include…
    A few tornadoes and a couple intense tornadoes possible
    Scattered damaging wind gusts to 70 mph possible
    Scattered large hail events to 1.5 inches in diameter possible

    SUMMARY…Scattered supercell thunderstorms are expected to develop
    northeast through the early evening. These storms may produce a few
    tornadoes, damaging gusts, and hail.

    The tornado watch area is approximately along and 90 statute miles
    east and west of a line from 25 miles west northwest of Marseilles
    IL to 60 miles east of Salem IL. For a complete depiction of the
    watch see the associated watch outline update (WOUS64 KWNS WOU7).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Tornado Watch means conditions are favorable for
    tornadoes and severe thunderstorms in and close to the watch
    area. Persons in these areas should be on the lookout for
    threatening weather conditions and listen for later statements
    and possible warnings.

    &&

    AVIATION…Tornadoes and a few severe thunderstorms with hail
    surface and aloft to 1.5 inches. Extreme turbulence and surface wind
    gusts to 60 knots. A few cumulonimbi with maximum tops to 400. Mean
    storm motion vector 22035.

    …Leitman

    SEL7

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Tornado Watch Number 57
    NWS Storm Prediction Center Norman OK
    1215 PM CDT Wed Mar 19 2025

    The NWS Storm Prediction Center has issued a

    * Tornado Watch for portions of
    Far Eastern Iowa
    Northern and Central Illinois
    Western Indiana

    * Effective this Wednesday afternoon and evening from 1215 PM
    until 900 PM CDT.

    * Primary threats include…
    A few tornadoes and a couple intense tornadoes possible
    Scattered damaging wind gusts to 70 mph possible
    Scattered large hail events to 1.5 inches in diameter possible

    SUMMARY…Scattered supercell thunderstorms are expected to develop
    northeast through the early evening. These storms may produce a few
    tornadoes, damaging gusts, and hail.

    The tornado watch area is approximately along and 90 statute miles
    east and west of a line from 25 miles west northwest of Marseilles
    IL to 60 miles east of Salem IL. For a complete depiction of the
    watch see the associated watch outline update (WOUS64 KWNS WOU7).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Tornado Watch means conditions are favorable for
    tornadoes and severe thunderstorms in and close to the watch
    area. Persons in these areas should be on the lookout for
    threatening weather conditions and listen for later statements
    and possible warnings.

    &&

    AVIATION…Tornadoes and a few severe thunderstorms with hail
    surface and aloft to 1.5 inches. Extreme turbulence and surface wind
    gusts to 60 knots. A few cumulonimbi with maximum tops to 400. Mean
    storm motion vector 22035.

    …Leitman

    Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas.
    SAW7
    WW 57 TORNADO IA IL IN 191715Z – 200200Z
    AXIS..90 STATUTE MILES EAST AND WEST OF LINE..
    25WNW MMO/MARSEILLES IL/ – 60E SLO/SALEM IL/
    ..AVIATION COORDS.. 80NM E/W /30NE BDF – 43N PXV/
    HAIL SURFACE AND ALOFT..1.5 INCHES. WIND GUSTS..60 KNOTS.
    MAX TOPS TO 400. MEAN STORM MOTION VECTOR 22035.

    LAT…LON 41498739 38638619 38638953 41499087

    THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A
    COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS
    FOR WOU7.

    Watch 57 Status Report Message has not been issued yet.

    Note:  Click for Complete Product Text.Tornadoes

    Probability of 2 or more tornadoes

    Mod (50%)

    Probability of 1 or more strong (EF2-EF5) tornadoes

    Mod (30%)

    Wind

    Probability of 10 or more severe wind events

    Mod (50%)

    Probability of 1 or more wind events > 65 knots

    Low (20%)

    Hail

    Probability of 10 or more severe hail events

    Mod (40%)

    Probability of 1 or more hailstones > 2 inches

    Low (20%)

    Combined Severe Hail/Wind

    Probability of 6 or more combined severe hail/wind events

    High (80%)

    For each watch, probabilities for particular events inside the watch (listed above in each table) are determined by the issuing forecaster. The “Low” category contains probability values ranging from less than 2% to 20% (EF2-EF5 tornadoes), less than 5% to 20% (all other probabilities), “Moderate” from 30% to 60%, and “High” from 70% to greater than 95%. High values are bolded and lighter in color to provide awareness of an increased threat for a particular event.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Share your stories of Second World War Portsmouth with The D-Day Story

    Source: City of Portsmouth

    As 2025 marks 80 years since the end of the Second World War, The D-Day Story in Portsmouth is launching a new project to record the memories of those who lived and worked in the city during this pivotal time in history.

    With the 80th anniversaries of Victory in Europe (VE) Day on Thursday 8 May and Victory over Japan (VJ) Day on Friday 15 August, The D-Day Story is seeking to gather personal accounts from individuals who experienced life in wartime Portsmouth. These recollections will contribute to a valuable archive ensuring that future generations understand and appreciate the impact of the war on the city and its people.

    Councillor Steve Pitt, Leader of Portsmouth City Council with responsibility for culture, said:

    “The anniversary of the end of that conflict is an opportunity to reflect on the many impacts of the wartime years, which forever changed the city and the lives of its residents. This project is a chance for people to have their memories and experiences recorded for posterity, so these stories are not lost.”

    The D-Day Story, in collaboration with the University of Portsmouth and Portsmouth Libraries & Archive, will be filming interviews to preserve these narratives for future generations. The interviews will take place on selected dates in May at The D-Day Story at Clarence Esplanade, Southsea, and at Cosham Library.

    Do you have memories or stories of Portsmouth during the Second World War? Do you have any photographs you would be willing to share?

    For an initial discussion, please call the museum on 023 9288 2555 and ask about the “Memories Project.” For more information on The D-Day Story, visit theddaystory.com.

    MIL OSI United Kingdom –

  • MIL-OSI Security: Indian National Found Guilty of Possession with Intent to Distribute More than 170 Pounds of MDMA in Eastern Washington

    Source: Office of United States Attorneys

    Spokane, Washington – Acting United States Attorney Richard R. Barker announced today that a jury returned a verdict in the federal trial of Jaskaran Singh, age 31, who is a native of Gujarat, India. Singh was found guilty of Possession with Intent to Distribute 3,4-Methylenedioxymethamphetamine (MDMA), which is more commonly known as “Ecstasy” or “Molly.” United States District Judge Thomas O. Rice presided over Singh’s trial, which began March 17, 2025. At sentencing, which is set for June 25, 2025, Singh faces a maximum term of imprisonment of twenty years. He may also face removal from the United States.

    The evidence presented at trial established that on April 29, 2023, at approximately 10:00 p.m., three unknown individuals tripped motion sensor cameras in a remote area just south of the U.S.-Canada border, approximately one-half-mile west of the Danville, Washington port of entry. U.S. Border Patrol officials at the Curlew Border Patrol Station saw images of these individuals, who had crossed into the United States from Canada and were carrying backpacks and a suitcase. From the U.S. side of the border, the only route to drive into or out of this area is an unestablished dead end, dirt road known as Fourth of July Creek Road.

    Minutes later, Border Patrol observed a 2014 Honda Odyssey traveling east on Fourth of July Creek Road. Border Patrol Agents responded to the area and stopped Singh, who was driving the rented Honda Odyssey away from the U.S. Canada border.

    From outside the van, Border Patrol agents observed backpacks and suitcase in the rear cargo area of the Odyssey. The backpacks and suitcase were same as those carried across the border by the three individuals, who tripped the motion sensor cameras just a few minutes earlier. Border Patrol Agents obtained authorization to search the van and seized 173.7 pounds of MDMA stored inside the backpacks and suitcase.  Investigators later located a map of the area on Singh’s phone and messages detailing where Singh should go, when he should arrive, and directing him to “leave the back hood open.”

    Testimony at trial established that the three men transported the MDMA from the Canadian side of the border by carrying the backpacks and suitcase through approximately 300 yards of remote wilderness to where Singh had parked the rented Odyssey van.  The three men then returned to the Canadian side of the border, escaping apprehension by law enforcement.

    Just one day before the massive seizure, Singh traveled from Northern California to Washington State. Singh had purchased his ticket just prior to the flight and then rented a car in Seattle, before driving to the remote area where the drugs were smuggled across the U.S.-Canada border.

    “Mr. Singh trafficked more than 170 pounds of illegal drugs across our northern border into the United States,” stated Acting United States Attorney Richard Barker. This seizure, which was one of the largest ever in Eastern Washington, had a street value exceeding $7.8 million. Today’s guilty verdict sends a clear message that those who seek to exploit our nation’s borders by flooding our communities with dangerous controlled substances will be held accountable for their crimes.”

    “The transnational drug trafficking organization for whom Singh worked had identified the ideal, isolated location in rural Washington to smuggle illegal drugs across the northern border,” continued Acting United States Attorney Barker. “Fortunately, our team of experienced Border Patrol agents were ready, and they intercepted this poison before it could harm communities in Eastern Washington.”

    “International drug traffickers like Mr. Singh profit by flooding our country with illicit, dangerous drugs that harm our citizens,” said David F. Reames, Special Agent in Charge, DEA Seattle Field Division. “I am gratified that we, at the Drug Enforcement Administration, can stand with our partners in the U.S. Border Patrol and the U.S. Attorney’s Office to hold people like Mr. Singh accountable for their crimes.”

    “Spokane Sector agents are vigilantly safeguarding our borders, swiftly detecting, and interdicting cross-border smuggling activities. This conviction highlights the Spokane Border Patrol Sector’s unwavering commitment to protecting communities from illicit drugs and those who attempt to smuggle them across our borders,” said Jason Liebe, Acting Chief Patrol Agent of the Spokane Sector for the U.S. Border Patrol.

    This case was investigated by the United States Border Patrol, the Drug Enforcement Administration, and Homeland Security Investigations. It is being prosecuted by Assistant United States Attorneys Alison L. Gregoire and Dan Fruchter.

    2:23-cr-00052-TOR

    MIL Security OSI –

  • MIL-OSI Global: Evolution: features that help finding a mate may lead to smaller brains

    Source: The Conversation – UK – By Benjamin Padilla-Morales, Postdoctoral Researcher of Bioinformatics, University of Bath

    Male southern elephant seals are much larger than females. Jeremy Richards/Shutterstock

    A longstanding question in evolutionary biology is how sexual selection influences how entire genomes develop. Sexual selection is where individuals with certain traits have higher reproductive success, leading to the spread of those traits throughout a species.

    A study by me and my colleagues at the Milner Centre for Evolution has uncovered a significant link between the difference in body size between males and females – known as sexual size dimorphism (SSD) – and genetic changes in mammals. These findings provide new insights into how sexual selection shapes the structure and function of the genome.

    Sexual selection is a powerful evolutionary force that influences reproductive traits. It typically acts through mate choice (intersexual selection) and competition among individuals of the same sex (intrasexual selection). Over time, these constant pressures shape genome architecture, driving rapid evolution in genes associated with reproductive success.

    This may affect the voice, body size, plumage or other feature of a species over time. In fact, such pressures may be behind a rise in height in male humans compared with females.

    Recent work highlights how sexual selection contributes to changes in the genetic blueprint (genome) and genes actively used (transcriptome).

    Many sexually dimorphic traits arise through sex-specific differences in gene expression. This allows a single shared genome to produce distinct male and female types.

    Males and females differing in body size is a common outcome of sexual selection. Some examples are the southern elephant seal (Mirounga leonina), domestic ferret (Mustela putorius furo) and northern fur seal (Callorhinus ursinus), where males are more than 250% heavier than females. In contrast, species such as the natal long-fingered bat (Miniopterus natalensis), humans and wombats (vombatus ursinus) show lower SSD, with males weighting less than 50% more than females.

    Male sumatran orangutans (left) are much larger than female ones (right).
    wikipedia, CC BY-SA

    A large difference often correlates with intense male-male competition, leading to the evolution of traits that enhance reproductive success, such as tall stature. However, while the impact of this difference on physical traits is well documented, its influence on genome evolution has remained largely unexplored.

    Sense of smell versus brain size

    We analysed groups of related genes called gene families across 124 mammalian species. Our study provides compelling evidence that SSD is associated with major shifts in the sizes of such families.

    Specifically, species with high SSD have an expansion of gene families linked to sense of smell. At the same time, their gene families related to brain development tend to contract.

    This suggests that in species with strong male competition, investment in traits that aid in reproductive success, such as olfactory cues for mate recognition, is prioritised over cognitive development.

    Conversely, species with low SSD show an expansion of brain-related gene families. This pattern suggests that in these mammals, natural selection may favour cognitive abilities and complex social behaviours rather than traits driven by sexual competition.

    Sexual conflict, where selection acts in opposing directions in males and females, plays an important role in genome evolution. This may involve males evolving brighter colours and outstanding features, as seen in peacocks (Pavo cristatus) and guppies (Poecilia reticulata). While these traits enhance male success by attracting females, they might also increase the risk of being spotted by predators.

    Many sex differences arise due to selection acting differently on shared genetic material, creating evolutionary tension. This can lead to sex-biased gene expression, allowing genes to function differently in males and females. This is the case for genes controlling bright colouration in guppies, for example.

    Studies have suggested that genes under strong sexual selection tend to evolve rapidly, particularly those associated with male reproductive traits, such as body size or colour. Additionally, genomic features, such as the duplication of genes, can help the evolution of sex-specific traits, helping to alleviate conflicts between the sexes.

    Our findings support these ideas by demonstrating that SSD influences gene family evolution, shaping molecular pathways critical for sexual and cognitive development.

    Evolutionary give and take

    Sexual selection does not act in isolation. It interacts with other evolutionary forces, such as natural selection and ecological pressures, to shape diversity. For example, larger body size in males may confer advantages in physical competition. But it can also increase metabolic demands and the risk of being caught by predators.

    Similarly, large brains and complex social structures may be favoured in species where cognitive abilities play a role in reproductive success, such as humans. But this comes at the cost of slower development and greater energy expenditure.

    This interplay between sexual selection and other evolutionary pressures highlights the complexity of genome evolution. Traits that provide reproductive advantages may not always align with those that enhance survival. This leads to give-and-take situations that shape species diversity over time.

    By examining the genetic underpinnings of SSD, our study provides new perspectives on how these situations play out at the molecular level. Our findings ultimately refine our understanding of how sexual selection influences genome evolution among mammals.

    Future research should explore in depth how these genomic changes influence behaviour and cognitive abilities in different species. These findings will open exciting new avenues for research, helping to answer fundamental questions about how evolution shapes biodiversity at the genetic level.

    Benjamin Padilla-Morales 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. Evolution: features that help finding a mate may lead to smaller brains – https://theconversation.com/evolution-features-that-help-finding-a-mate-may-lead-to-smaller-brains-252069

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: UN Human Rights Council 58: UK Statement for the Special Rapporteur on the DPRK

    Source: United Kingdom – Executive Government & Departments

    Speech

    UN Human Rights Council 58: UK Statement for the Special Rapporteur on the DPRK

    UK Statement for the Interactive Dialogue with Special Rapporteur on the Democratic People’s Republic of Korea. Delivered by the UK’s Human Rights Ambassador, Eleanor Sanders.

    Thank you, Mr Vice President.

    And thank you Special Rapporteur for your report and continued efforts to maintain international focus on the ongoing, systematic human rights violations in the DPRK.

    We are pleased that the DPRK engaged with the Universal Periodic Review in November and encourage them to implement recommendations and make lasting changes for the people of the DPRK.

    We share your serious concerns at the implementation of laws that further restrict the freedom of movement, work and expression in the DPRK.

    All governments have a responsibility to uphold their obligations in line with UN Conventions and international law.

    We also urge all Member States to respect the principle of non-refoulement and to not forcibly return those who have escaped the DPRK, where they face severe threats to their safety and human rights.

    The UK supports the Special Rapporteur’s recommendation that the DPRK incorporate all sustainable development goals, particularly those aimed at supporting individuals from vulnerable groups.

    Special Rapporteur,

    How do you propose to work with the DPRK to increase access to disaggregated data to better identify the needs of the most marginalised individuals?

    Thank you.

    Updates to this page

    Published 19 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Canada: Federal government invests in natural infrastructure enhancements across British Columbia

    Source: Government of Canada News

    West Vancouver, British Columbia, March 19, 2025 — Three communities across British Columbia will see improvements to natural infrastructure that will increase their resilience while protecting local environments, after an investment of more than $1.6 million from the federal government.

    North of Kamloops, along the North Thompson River, funding will help Whispering Pines/Clinton Indian Band protect reserve lands and community infrastructure that are situated on the floodplain. The construction of a bioengineered living revetment will include brush and hedge brush layering, which will utilize live cuttings and rooted plants to stabilize approximately 130 metres of shoreline. This will reduce loss of land due to erosion, protect critical habitat, and increase flood resiliency in the community.

    In Tsay Keh Dene Nation (TKDN) Territory, funding will restore a portion of an existing wetland and construct a wetland park, featuring an interpretive trail with signage in both English and Tsek’ene (Sekani) languages. The project will address the loss of wetland area in TKDN Territory, following flooding and blocked waterways caused by the construction of the W.A.C. Bennett Dam and resulting Williston Reservoir.

    Additionally, funding will support the District of West Vancouver in developing and implementing a tree planting program to enhance local tree canopy cover in the community. 500 trees of varying species will be planted in high density areas, on streets and on slopes where trees are needed to provide shading and to minimize runoff and erosion during heavy rain by absorbing excess water. The planting program will support the District’s target of 52% tree canopy cover.

    These projects will help the Whispering Pines/Clinton Indian Band, Tsay Keh Dene Nation, and West Vancouver adapt to and increase resiliency against the impacts of climate change and better protect their communities by leveraging natural infrastructure.

    MIL OSI Canada News –

  • MIL-OSI Asia-Pac: Hospital site usage explained

    Source: Hong Kong Information Services

    The Health Bureau today said at the present stage, the Government has no plan to use the King’s Park site for purposes other than for healthcare after the relocation of services at Queen Elizabeth Hospital (QEH) due to start from early 2026.

    It added that the Government will consider the site’s future healthcare use and development plan in the course of reviewing the Second Hospital Development Plan (HDP).

    In response to media enquiries on the QEH service relocation and the future use of the King’s Park site, the bureau said to dovetail with the implementation of the First HDP of the Hospital Authority (HA), the QEH services will be relocated to New Acute Hospital (NAH) at Kai Tak Development Area gradually from early 2026.

    By then, most of QEH’s clinical services, including the accident and emergency services, will be relocated to NAH; while the QEH Ambulatory Care Centre (Extension) will remain at the King’s Park site.

    Located in Central Kowloon, NAH will form a service network with a number of hospitals and the Ambulatory Care Centre (Extension) at QEH to provide comprehensive healthcare services to the residents in the community.

    The other hospitals involved in the new service network are: Our Lady of Maryknoll Hospital, Hong Kong Buddhist Hospital and Tung Wah Group of Hospitals Wong Tai Sin Hospital in Kowloon City District, and Kwong Wah Hospital, Kowloon Hospital and other hospitals in the Kowloon Central Cluster.

    The bureau noted that the HA has been maintaining close liaison with the Transport Department and other relevant departments about the various support to be provided for NAH.

    On public transport services, the TD will plan in advance the provision of appropriate public transport services taking into consideration the NAH project’s progress and anticipated completion date.

    The TD will also continue to closely monitor the area’s development, and adjust or strengthen the local public transport services based on actual circumstances, in order to further enhance the road traffic network in the NAH’s vicinity to meet passenger needs.

    Furthermore, the bureau is reviewing the Second HDP together with the HA, and there will be room for healthcare service development at the King’s Park site after the relocation of clinical services from QEH to NAH.

    Given the convenient geographical location, it will be a feasible option to consider the expansion of the ambulatory care services at the King’s Park site based on the demand of the population in Kowloon, it added.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Joint Statement on UK-Philippines JETCO

    Source: United Kingdom – Executive Government & Departments

    News story

    Joint Statement on UK-Philippines JETCO

    On Monday 17 March, the UK and the Philippines held the inaugural Joint Economic and Trade Committee (JETCO) meeting.

    Joint Statement on UK-Philippines Joint Economic and Trade Committee

    On Monday 17 March, the UK and the Philippines held the inaugural Joint Economic and Trade Committee (JETCO) meeting.

    The Ministerial JETCO reflects a commitment from both governments to upgrade the growing bilateral economic relationship between both countries, including by exploring ways to boost trade and investment, as well as addressing barriers to market access.

    The committee was hosted in London by UK Minister for Trade Policy and Economic Security, Douglas Alexander MP, and co-chaired by Undersecretary Allan B. Gepty of the Philippines Department of Trade and Industry.

    Minister Alexander and Undersecretary Gepty endorsed a programme of work to advance bilateral cooperation over the next 12-18 months, including government-to-government and government-to-business activity in agreed priority areas such as infrastructure, agriculture, energy, economic development, life sciences, and technology.

    Much of this work will be delivered through four Sectoral Working Groups, which will meet annually to facilitate technical policy exchange and project delivery.

    Infrastructure

    The UK and the Philippines committed to progressing a government-to-government Financing Framework Partnership to support the delivery of national priority infrastructure and development programmes and projects in the Philippines.

    The Framework aims to expand access to £5 billion of financing from UK Export Finance (UKEF) and other sources of cooperation, and provide the Philippines with new paths to UK expertise, technology, and comparative advantage.

    Both countries agreed to develop a project pipeline through the Infrastructure Sectoral Working Group in anticipation of the establishment of the Framework.

    Energy

    The UK and the Philippines reflected on the extensive cooperation in the last year between the Department for Business and Trade (DBT), the Philippines Department of Energy, and the UK Offshore Renewable Energy Catapult, supporting the offshore wind development of the Philippines.

    Both countries emphasised the importance of the sector, recognising its contribution to economic growth and an inclusive green transition and committed to continue working closely on policy and regulatory engagement in the coming year, driven by cooperation at the Energy Sectoral Working Group.

    Agriculture

    Minister Alexander and Undersecretary Gepty discussed the benefits of collaboration between the UK Department for Environment, Food and Rural Affairs (DEFRA) and the Philippines Department of Agriculture with a view to safeguarding and expanding market access for agri-food exporters.

    They agreed to continue collaboration across issues such as animal disease detection and antimicrobial resistance as well as new opportunities for collaboration on precision breeding and genetics.

    They endorsed the role of the Agriculture Sectoral Working Group to drive greater trade and investment in our respective agriculture sectors, including by promoting commercial agriculture opportunities in the Philippines and the UK.

    Economic Development

    Minister Alexander and Undersecretary Gepty recognised the important role of bilateral trade in furthering economic development in the Philippines and endorsed efforts to improve utilisation of the Developing Countries Trading Scheme, which offers Philippine exporters tariff-free access on 92% of products.

    They were pleased to note the upcoming launch of an export handbook that details key regulatory compliance requirements, including how to leverage the UK Developing Countries Trading Scheme to benefit from preferential tariff rates.

    They agreed on activities to further strengthen the business landscape in the Philippines and facilitate investment and digitalisation of trade.

    This covers continuing collaboration on regulatory reform initiatives, facilitating business linkages, and capacity building on AI policy frameworks and governance.

    Regional collaboration

    Minister Alexander and Undersecretary Gepty used the JETCO meeting to discuss the importance of cooperation between the UK and the Philippines in support of regional economic integration.

    The UK looks forward to deepening the UK-ASEAN Partnership and working with the Philippines towards its Chairship of ASEAN in 2026.

    Trade promotion and investment

    Minister Alexander and Undersecretary Gepty concluded discussions by acknowledging the potential for future economic growth and shared prosperity through deepening trade links.

    They acknowledged that in 2024, the UK was the largest single investor in the Philippines, driven by investments in renewables.

    The Philippines, being one of the fastest growing economies in Southeast Asia last year with around 6% growth, has the capacity to boost trade in sectors where the UK holds significant commercial expertise.

    Minister Alexander and Undersecretary Gepty emphasised the importance of delivering real impact from strengthened trade and economic discussions.

    They encouraged future trade promotion and investment activities to facilitate more business opportunities in sectors such as technology and infrastructure including energy.

    After the JETCO meeting, UK Trade Envoy to the Philippines, George Freeman MP, and Undersecretary Gepty, co-hosted a business briefing in partnership with the UK-ASEAN Business Council to share insights from discussions and seek industry views on priorities for growing the bilateral trade and investment relationship.

    Bilateral economic relationship

    The Philippines was the UK’s 60th largest trading partner in the end of Q3 2024 accounting for 0.2% of total UK trade.

    Total trade in goods and services between the UK and the Philippines in the same period was £2.8 billion.  

    The new UK-Philippines JETCO adds extra emphasis to the UK’s deepening relationships across the wider Asia Pacific region.

    As an ASEAN Dialogue Partner, the UK is committed to further enhancing engagement with the region, through both multilateral and bilateral forums, including those with the Philippines.

    The JETCO follows the launch of the UK-Philippines Joint Framework for the Enhanced Partnership – an enhancement of our bilateral relations across foreign policy, economic growth, security and defence cooperation amongst other areas.

    Updates to this page

    Published 19 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Sanjay Malhotra: Transforming grievance redress – the AI advantage

    Source: Bank for International Settlements

    I am delighted to participate in this year’s Annual Conference of the RBI Ombudsmen. The Reserve Bank has been organising this conference on or around the World Consumer Rights Day, that is, 15th March. World Consumer Rights Day is celebrated every year with the aim of raising global awareness about consumer rights and needs. We organise this conference to reflect on our achievements with regard to consumer services and to deliberate on how to improve services and reduce grievances. We need to improve consumer services, not only because it is our duty to do so, but because it is in our selfish interest to do so. In this age of competition, we would not survive long if we do not provide quality service to our consumers.

    We have made tremendous strides in improving consumer services over the years. We have enabled internet banking and mobile banking. Most of the banking services, be it opening a deposit account, or taking a small loan have been digitised, adding to the convenience and speed. We are making record number of digital transactions through UPI and other means of digital payments. Many among the younger generation may have never visited a bank branch. We have even enabled opening of accounts using video KYC.

    While we have enhanced customer experience over the years, the high number of customer grievances continues to be a matter of serious concern. I am told that last year (2023-24), the 95 Scheduled Commercial Banks alone received over 10 million complaints from their customers. If we take into account the complaints received at other RBI-regulated entities (REs), the number would be even higher. One may argue that this amounts to only four complaints per thousand accounts per year as there are about 2.5 billion bank accounts. But, for us, even one complaint is a cause of concern. We have 10 million complaints and with the rapidly growing customer base and expanding suite of products, this may grow, if we do not get our act together.

    Customer satisfaction – a cornerstone for banking and other financial services

    Excellent customer service, in fact excellent customer experience is a sine qua non in any service industry. Our effort should be to enhance the total customer experience. The experience should be such that there is no cause for a grievance that requires a redress. Let me state a fundamental truth: every complaint is a test of trust. When a consumer files a grievance – whether for a disputed transaction, a lapse in service, inappropriate pricing or charges or an unfair practice – it is a signal that our system has fallen short. Left unresolved, such issues can erode consumer confidence and tarnish the entire ecosystem.

    I am reminded of a real story about customer service. Some of you, especially the management graduates, may have heard it but it is so appropriate for today’s theme that it is worth being retold. In the winter of 1975, in a town in Alaska, a man walked into a store and complained to the salesman present that the snow tyres that he bought some time ago were not holding. The salesman was a little puzzled. He said that he could not replace them but will check what he could do and went to the back of the store. Those of you, who have visited departmental stores in the USA, would know that refunds are processed at the back of the store. The salesman came back after some time and handed over some cash as refund and the customer left satisfied. Can anyone guess why this was unique, as no questions asked policy for refunds is fairly common in the USA? It is because the company in question is Nordstrom which does not even sell tyres. It sells apparel and shoes. But, for Nordstrom, customer comes first. Trusting him and winning his trust is more important than anything else.

    Some say that this is not a true story. How is this possible? How could a company offer refund for a product which it never sold? Nordstrom, however, insists that this incident did take place. Nordstrom had acquired three stores from another company that sold miscellaneous articles including tyres. The customer did not realise that the store had changed and walked in with his complaint. The key message is that Nordstrom saw itself being in the business of customer service, and not just selling goods. We too need to realise that we are in the business of providing unalloyed customer service and not just selling banking and other financial services.

    Top management to accord priority to customer service

    I am sure you will all agree that we are indeed in the business of customer service. However, I suspect that we are not spending enough time on customer service and grievance redressal as a result of which not only are there a large number of complaints being received by banks and NBFCs but in the absence of satisfactory resolution, a large number of them are getting escalated to RBI Ombudsmen.

    Let me give you some perspective. The number of complaints received under RBI’s Integrated Ombudsman Scheme increased at a compounded average growth rate of almost 50 per cent per year over last two years to 9.34 lakh in 2023-24. The number of complaints processed at the Office of RBI Ombudsman increased by 25 per cent from about 2,35,000 in 2022-23 to almost 2,94,000 in 2023-24. Not only are large number of complaints getting escalated, a large proportion of them – nearly 57 per cent of the maintainable complaints last year – required mediation or formal intervention by the RBI Ombudsmen. You would all agree that this is a highly unsatisfactory situation and needs our urgent attention.

    I would, therefore, strongly urge all the MD&CEOs, Zonal and Regional Managers and the Branch Managers to spend some time every week, if not every day on grievance redressal. This is a must. All great CEOs find time to do it. We too must keep some time in our diary for improving customer service and grievance redressal.

    Improving customer service systems

    Customer complaints aren’t a nuisance – they are in fact opportunities to improve, innovate, and build trust. Handling them well can define your success. Each unresolved grievance is a missed opportunity for regulated entities to reaffirm customer trust and loyalty. It is also a warning signal as repeat complaints are often signs of systemic flaws. Today, complaints often surface on social media even before reaching official channels, highlighting the need for proactive measures.

    The effort thus should be to not only resolve the complaints but also to ensure that the same type of complaint does not arise again. Many of the complaints like digital transaction disputes, unauthorized charges, or miscommunication frequently recur. These are clearcut symptoms of underlying issues in the overall customer service framework of the regulated entities. A thorough root cause analysis should be performed for each complaint so as to enable remedial action and avoid repetition of same type of complaint.

    In fact, I would go a step further. Best service is not one in which there is no occasion for grievance redressal but one in which there is no occasion for the customer service department to step in. Systems should work seamlessly and conveniently so that customers do not have to call the branch or the customer service centre or talk to anyone in the Bank or NBFC. Systems have to be so user-friendly that customers can rely on self-service rather than being dependent on anyone else.

    Improving internal grievance redressal systems

    While improving systems to reduce grievances is important, setting up a robust grievance redressal system is equally important for all regulated entities. I would urge you all to review the same. While the regulations do not make any prescription for the organisational structure for grievance redressal, my experience suggests that there should be at least two levels for grievance redressal in large REs, with unresolved grievances getting escalated from the lower to the higher level. The highest level should be at a fairly high rank. This to ensure that requests do not get rejected without having been examined by a senior functionary who is empowered to take decisions in consumer interest. This will help reduce grievances getting escalated to the Ombudsman. It must also be ensured that there are sufficient number of grievance redress officers at all levels including in the Internal Ombudsman office.

    I would also like to draw your attention to the misclassification of complaints as requests, queries, and disputes by the regulated entities. This results in the complainants’ grievances remaining unaddressed. Moreover, this is also a gross regulatory violation.

    Major areas of service improvement

    Let me now briefly allude to some of the major areas where we need to improve. These relate to KYC, digital frauds, mis-selling, and aggressive recovery practices.

    As for KYC, we need to ensure that once a customer has submitted documents to a financial institution, we do not insist on obtaining the same documents again. Once the customer has updated his details, for example, his residential address, with one regulated entity of any financial sector regulator, it gets updated in CKYCR and other REs are notified of the updation. PML Rules made by the Department of Revenue in the Ministry of Finance and RBI’s Master Directions on KYC mandate regulated entities to check the CKYCR system before seeking KYC documents for opening an account. However, most banks and NBFCs have not enabled the same in their branches/business outlets, causing avoidable inconvenience to customers. This may be facilitated early. This will be in the interest of all.

    Another important issue connected to customer protection is rising digital frauds. It is a matter of great concern that innocent customers continue to fall prey to scamsters. While this could be attributed to rise in digital transactions and innovative methods adopted by fraudsters, lack of customer awareness is also a major reason for the same. To mitigate this menace, REs not only need to put in place robust internal controls but also enhance digital financial literacy.

    The issues of mis-selling and aggressive recovery practices have been highlighted earlier too. In this context too, I would request you to keep consumer interest supreme.

    Embracing technology – the AI way

    Let me now come to the theme of this year’s conference: AI’s potential to revolutionize grievance redressal. We are entering an exciting era where technology, particularly artificial intelligence (AI), can drive remarkable improvements in speed, accuracy, and fairness of complaint resolution.

    AI can help categorize incoming complaints by urgency, complexity, or subject area, ensuring minimal delay in reaching the right people or the right team. AI can also help in optimising complaint routing. Further, it can assist in decision-making and reducing processing time.

    Secondly, AI can be used to pinpoint systemic gaps by analysing both structured and unstructured data such as emails, chat logs, and call transcripts. This will aid in identifying training needs and guiding necessary process reforms. Using data from millions of consumer branch visits, call centre logs, mobile apps, and social media, a unified, AI-driven view of all these interactions can help identify common pain points more efficiently. Leveraging data analytics, sentiment analysis, and predictive models, AI can be used to analyse large volumes of data to detect spikes in issues – such as ATM failures or erroneous charges – and alert REs pre-emptively.

    Lastly, in a linguistically diverse country like India, AI-driven chatbots and voice recognition tools can eliminate language barriers by operating in local languages. Moreover, the implementation of conversational AI in chatbots, voicebots, and advanced IVR systems can handle routine queries round the clock, thereby freeing people to focus on cases that require empathy and complex problem-solving.

    In short, integrating AI at every stage – from complaint lodging to closure – can result in a seamless, efficient, and data-driven grievance redressal system. Such a framework not only reduces processing times and addresses repetitive complaints but also fosters equitable outcomes by mitigating human biases. It is time that the banking industry explores and pioneers the integration of technology – including AI – to strengthen the grievance resolution mechanisms and make it best in class across the globe.

    Challenges and guardrails in AI driven grievance redressal system

    While AI presents unparalleled opportunities, we need to be cognizant of the challenges and risks that its adoption poses. There are concerns on data privacy, algorithmic bias and complexity in AI-driven models. As we embrace AI in grievance redressal or any other process, we must also remain mindful of ethical considerations. Human oversight, bias mitigation and data privacy must be integrated into the AI Systems to ensure transparent and consistent outcomes.

    Investing in human resources

    While technology in all its forms is a powerful enabler, I would like to emphasise that it is no substitute for integrity, empathy, and human judgment. In a world increasingly driven by data, algorithms, and automation, it is all too easy to lose sight of the human element. Every transaction represents not just a number in a ledger, but the hard-earned savings of a family, the dreams of a small entrepreneur, or the lifelong savings of a senior citizen. It is, therefore, critical that REs continue to invest in human resources dedicated for customer service and grievance redressal. It is essential to invest in training of staff, especially in behavioural aspects of customer service. Moreover, the staff needs to be empowered to take decisions based on their judgement to redress consumer grievances, enhance customer satisfaction and win consumer trust.

    RBI as a facilitator

    In the end, I would like to assure you that, while we exhort you to provide services efficiently to customers, we in the Reserve Bank shall also provide various services, approvals, clarifications, etc. to the regulated entities in a timely manner. We already have a citizen’s charter. We are in the process of reviewing the charter. We will make the charter comprehensive to include all services that we offer either to the REs or directly to citizens. Moreover, we are reviewing the timelines for each service. It will be our endeavour to provide all approvals, etc. within the timelines. We are also making mandatory the use of PRAVAAH, which is RBI’s secure and centralised web-based portal for any individual or entity to seek authorisation, license or regulatory approval on any reference made to the Reserve Bank in a timely manner. This will help us in expediting the disposal of applications received by the Reserve Bank.

    Conclusion

    We stand at a pivotal juncture as India looks to realise its dream of a more resilient and inclusive Viksit Bharat. With the financial sector touching the lives of almost the entire population, we have a critical role. To succeed in this role, we must continue to enhance customer service and customer protection.

    Thank you !

    MIL OSI Economics –

  • MIL-OSI Economics: Luke Forau: Launch of the new $1 coin

    Source: Bank for International Settlements

    Minister of Finance & Treasury Hon Manase D Sogavare, Ministry of Finance and Treasury
    CBSI Board of Directors
    Heads and Representatives of the Financial Institutions
    Members of the Press – both radio and print
    Our business partner from Royal Australia Mint (Not present here today)
    CBSI Executives, managers and staff
    CBSI Currency Taskforce
    Good people of Solomon Islands
    Friends, Ladies & Gentlemen

    Gud Fala Morning Lo Iufala Evriwan who are here today, including those who are turning in today from SIBC.

    It gives me great pleasure to welcome you all this morning, a special welcome to the Minister of Finance and Treasury, to witness yet another milestone in the Central Bank’s history – the launch of the New SI $1 circulation coin with the new effigy of His Majesty, “King Charles III” which the Minister is going to declare it later on, and will be released into circulation as of today, 13th March 2025.

    Let me briefly take you back to our currency history that we journey before SI Independence in July 1978.

    Before Solomon Islands gained Independence on 7th July 1978, the British Solomon Islands Protectorate has had its own currency notes and coins, which were first issued on 24th October 1977, using Her Majesty Queen Elizabeth’s Effigy. I suppose this is one of the prerequisites for a nationhood. And FYI, the Central Bank was established in 1976, then it was called Solomon Islands Monetary Authority (SIMA).

     In November 2011, for strategic reasons CBSI ceased all its currency coins agreement with the British Royal Mint and signed a new Agreement with the Royal Australia Mint Ltd (RAM) for the minting of all SI Circulation Coins & Numismatic Programs

    In June 2012, the Central Bank issued its first Circulation coins minted by the Royal Australian Mint Ltd, totalling SBD$25.7m.

    Today, this currency development continues as we come to witness yet another new circulation bank coin that marks a new reign in the line of Thrown replacing the obverse of the coin which features the effigy of Her Majesty Queen Elizabeth II to a new Effigy of His Majesty King Charles III 2025.

    Let me turn to the new effigy of His Majesty King Charles III on the $1 SI circulation coin

    As you may have already probably aware, the CBSI had recently pre-launched and unveiled the new King Charles effigy on the $1 coin to international media at the Royal Australia Mint Ltd in Canberra, in October 2024, via a Bank Industry News Media Release.

    The coin, now set to be launched today (13th March 2025), represents a historic milestone in the journey of Solomon Islands’ modern currency development and a continuation of our ongoing relationship between Great Britain and Solomon Islands and between CBSI and its supplier, the Royal Australian Mint Ltd

    The new $1 coin will retain the same dimension (size and shape) with the beloved Nguzu Nguzu motif on its reverse, symbolizing good luck and protection, while the obverse will feature the new effigy of King Charles III designed by Daniel Thorne (DT). The inclusion of the effigy marks the first Solomon Islands coin to commemorate His Majesty’s reign, combining traditional elements with this fresh design to celebrate the nation’s heritage and monarchy.

    The new coin is more than a currency; it is a symbol of the Solomon Islands’ history, culture, and its ties to the Commonwealth. This design honors both our traditions and a shared value that the nations of the Commonwealth uphold in recognition of the monarchy.

    The coin will be officially launched and will become available through the commercial banks and its branches as of this afternoon and the coming days. CBSI will also conduct special promotional events and educational campaign to familiarize the public with the new effigy. It is important to differentiate the significance of the New King’s Effigy as compared to the Queen Effigy. The New King Charles’ III Effigy when looking at the coin obverse, will be facing to the Left while the Queen’s Effigy will be facing to your Right

    This latest collaboration with the Royal Australian Mint continues our long-standing partnership between the Solomon Islands and Australia, showcasing the shared values and excellent business relationship of both nations.

    What to look for on the new bank coin:

    Front Design:

    As alluded earlier, this new $1 coin will retain the same dimension (size, shape and aluminum bronze color) with the obverse featuring the new effigy of King Charles III designed by Daniel Thorne (DT).

    On the Back Design:

    The new $1 coin also retain the same design with the famous Nguzu Nguzu motif on its reverse, that symbolizes good luck and protection, so there is no change to the reverse side of the coin at all.

     As a market currency, this bank coin will be highly used in daily transactions because of its fitting face value for smaller payments for all retailers both in rural and urban areas.

    The new and colourful bank coin will join more than $46.8 million worth of coins already in circulation as at end of December, 2024.

    Cost of Printing Banknotes

    Allow me to now remind all our good people of Solomon Islands that the Central Bank spends a lot of money each time it prints or mints new currencies.  It costs the Central Bank around SBD3.4 million to get the new $1 coin with the new effigy from our supplier. The average life of the $1 coin is estimated at over 20 to 25 years before they become worn out to be used anymore.

    So, I believe the current $1 coins circulating in your pockets and wallets right now is around 13 years old and are still in very good or good conditions.  Our current stock of the new $1 coins should last more than 3 years.

    Statistics however show that the frequency of coins being issued to public through our commercial banks are excessively high due to coins being seen on a very high ONE-WAY Traffic for reasons that are not quite clear to us at the Central Bank. But we believe individuals and business houses could be keeping those coins in their small piggy banks and were not allowed to circulate.

    The more you hold to the coin and not circulating it through transactions, it reduces the multiplier effect that should have occurred. This causes shortage in coins, triggering CBSI to reorder coins more frequently from the supplier to ensure we have sufficient supply of quality coins to meet business and public demand. This further depletes our foreign reserves just to procure new currency notes or coins. We obviously do not want that to happen but it is happening.

    Hence, I appeal to the people of Solomon Islands that you USE your new coins with extra care and pride but we would also advice you all to ensure that you do circulate the coins once it comes around your way to facilitate small changes in the trades of goods and services.

    Again, our advice is: Do not store them away in containers, piggy banks or hide them under mattresses.

    Finally, I would like to thank the technical team from the Royal Australia Mint Ltd, for assisting CBSI in the design, formalities and production of our bank coins. Our partnership relationship with RAM, Australia had been now well around 13 years so this is indeed a unique occasion for both CBSI and RAM.

    We would also like to thank the CBSI Board of directors, Minister of Finance and Solomon Island Government and other stakeholders in ensuring the legislative procedures and arrangements are fully in compliance and to the success of this project milestone. Thank you too to all the Heads of Financial Institutions witnessing the launch for this morning as the main channel of our currency distributions.

    Final acknowledgement goes to my team the Currency Launch Taskforce, Currency & Banking Services Department and the CBSI Management team for their coordinated job well done in  making this a success.

    Official Launch

    Now, ladies and gentlemen, I now have the pleasure to invite the Hon Minister of Finance and Treasury (Hon Manasseh D Sogavare) to unveil the new $1 coin with the new effigy of His Majesty King Charles III 2025.

    MIL OSI Economics –

  • MIL-OSI Global: Cutting welfare goes against Labour’s core values – that’s the point

    Source: The Conversation – UK – By Tim Bale, Professor of Politics, Queen Mary University of London

    House of Commons/Flickr, CC BY-ND

    “It’s one thing to say the economy is not doing well and we’ve got a fiscal challenge … but cutting the benefits of the most vulnerable in our society who can’t work, to pay for that, is not going to work. And it’s not a Labour thing to do.”

    So says former Labour big beast turned centrist-dad podcaster Ed Balls about the government’s welfare reform proposals. Cue furious nods from all those who were hoping and expecting better – or at least not this – from Keir Starmer and Rachel Reeves.

    Reactions like these are wholly understandable. After all, the Labour party has long viewed support for the welfare state as both a flag around which the party can rally, and a stick with which to beat the Conservatives.

    But while that may have been the case in opposition, in office things have been a little more complicated.

    Going all the way back to the MacDonald and Attlee governments, through the Wilson era, and into the Blair and Brown years, Labour governments have often seen fit to talk and act tough to prove to voters, the media and the markets that they have a head as well as a heart. And if that means upsetting some of their MPs, their grassroots members and their core supporters in the electorate, then so be it.

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    Welfare encompasses a raft of policies that are as much symbolic as they are substantive. Choosing between them has tangible implications for those directly affected. But those choices also say something – and are intended to say something – about those politicians and parties making that choice.

    For Labour governments – and in particular Labour chancellors – cuts in provision, even (indeed perhaps especially) if they involve backtracking on previous commitments, have always been a means of communicating their determination to deal with the world as it supposedly is, not as some of their more radical colleagues would like it to be.

    Think of Philip Snowden insisting on cuts to unemployment benefits in 1931 in an eventually vain attempt to retain the gold standard. Or Hugh Gaitskell insisting on charges for NHS “teeth and specs” to pay for the Korean war in 1951. Or Roy Jenkins reimposing NHS prescription charges in 1968 to calm the markets after devaluation. Or Dennis Healey committing to spending cuts to secure a loan from the IMF (and to save sterling again) in 1976. Or Gordon Brown insisting on cutting single parent benefits in 1997.

    On every occasion, those decisions have provoked outrage: a full-scale split in the 1930s, the resignation of three ministers (including Harold Wilson and leftwing titan Nye Bevan) in the 50s, parliamentary rebellions and membership resignations in the 60s, more generalised despair in Labour and trade union ranks the 70s, and yet another Commons rebellion in the 90s.

    But what we need to appreciate is that the fallout is never merely accidental. Rather, it is a vital part of the drama. For the measures to have any chance of convincing sceptical markets and media outlets (as well as, perhaps, ordinary voters) their authors have to be seen to be committing symbolic violence against their party’s own cherished principles.

    The proof that sacred cows really are being sacrificed is the anger (ideally impotent anger) of those who cherish them most – Labour’s left wingers. Their reaction is not merely predictable (and expect, by the way, to see Labour’s right wingers employ that term pejoratively in the coming days), it is also functional.

    The cruelty is the point

    Away from the Labour party itself, both those directly affected by the changes to sickness and disability benefits and those who campaign on their behalf, are – rightly or wrongly – already labelling those changes as cruel. But, likewise (and to put it at its most extreme) the cruelty, to coin a phrase, is the point.

    The government will naturally be hoping that, in reality, as few people as possible will be significantly hurt by what it is doing. But the impression that it is prepared to run that risk in pursuit of its wider aim is, in many ways, vital to its success.

    As to what that wider aim is? Labour’s essential problem is that, for all its social democratic values, it understandably aspires to become the natural party of government in what is an overwhelmingly liberal capitalist political economy.

    It has all too often sought to achieve that, not so much by creating expectations among certain key groups and then rewarding them, as it has by aiming to demonstrate a world-as-it-is governing competence. That, in the view of its leaders (if not necessarily its followers), is the master key to the prolonged success experienced by the Conservative party – a party which has traditionally enjoyed the additional advantage of being culturally attuned to the market and media environment in which governing in the UK has to be done.

    So, no, Ed Balls, you’re wrong: for good or ill, this week’s announcement is very much “a Labour thing to do”.

    Tim Bale received funding from the ESRC for the PhD upon which the book, “Sacred Cows and Common Sense: The Symbolic Statecraft and Political Culture of the British Labour Party” is based.

    – ref. Cutting welfare goes against Labour’s core values – that’s the point – https://theconversation.com/cutting-welfare-goes-against-labours-core-values-thats-the-point-252660

    MIL OSI – Global Reports –

  • MIL-OSI Global: Only 15 countries have met the latest Paris agreement deadline. Is any nation serious about tackling climate change?

    Source: The Conversation – UK – By Doug Specht, Reader in Cultural Geography and Communication, University of Westminster

    Svet Foto/Shutterstock

    The latest deadline for countries to submit plans for slashing the greenhouse gas emissions fuelling climate change has passed. Only 15 countries met it – less than 8% of the 194 parties currently signed up to the Paris agreement, which obliges countries to submit new proposals for eliminating emissions every five years.

    Known as nationally determined contributions, or NDCs, these plans outline how each country intends to help limit average global temperature rise to 1.5°C above pre-industrial levels, or at most 2°C. This might include cutting emissions by generating more energy from wind and solar, or adapting to a heating world by restoring wetlands as protection against more severe floods and wildfires.

    Each new NDC should outline more stringent emissions cuts than the last. It should also show how each country seeks to mitigate climate change over the following ten years. This system is designed to progressively strengthen (or “ratchet up”) global efforts to combat climate change.

    The February 2025 deadline for submitting NDCs was set nine months before the next UN climate change conference, Cop30 in Belém, Brazil.

    Without a comprehensive set of NDCs for countries to compare themselves against, there will be less pressure on negotiators to raise national ambitions. Assessing how much money certain countries need to decarbonise and adapt to climate change, and how much is available, will also be more difficult.

    While countries can (and some will) continue to submit NDCs, the poor compliance rate so far suggests a lack of urgency that bodes ill for avoiding the worst climate outcomes this century.

    Who submitted?

    The 15 countries that submitted NDCs on time include the United Arab Emirates, the UK, Switzerland, Ecuador and a number of small states, such as Andorra and the Marshall Islands.

    Cop30 host Brazil submitted a pledge to reduce greenhouse gas emissions by 59-67% by 2035, compared to 2005 levels. This is up from its previous commitment, a 37% reduction by 2025 and 43% by 2030. Unfortunately, Brazil is not on track to meet its 2025 target and has set a more recent emissions baseline that will make any reductions more modest than they’d otherwise be.

    Japan aims to reduce greenhouse gas emissions by 60% in 2035 and 73% in 2040, compared to 2013 levels. Japan’s previous target was for a 46% reduction by 2030. This demonstrates how the ratchet system is supposed to work.

    The UK’s NDC, which pledges to reduce all greenhouse gas emissions by at least 81% by 2035, compared to 1990 levels, was described by independent scientists as “compatible” with limiting global heating to 1.5°C.

    The US submitted a plan to reduce net greenhouse gas emissions by 61-66% below 2005 levels by 2035. However, this was before Donald Trump pulled the US out of the Paris agreement (for the second time), so the commitment of one of the world’s largest polluters is in doubt.

    Who didn’t submit?

    Some of the world’s largest emitters failed to submit new NDCs, including China, India and Russia.

    India pledged to reduce its emissions by 35% below 2005 levels by 2030 at the signing of the Paris agreement. All of the country’s subsequent NDCs have been rated as “insufficient” by independent scientists. India’s recent national budget announcement offered scant additional funding for climate mitigation and adaptation measures.

    China also made big promises in 2015 with its aim to lower its CO₂ emissions by 65% by 2030, from a 2005 baseline. However, China has been responsible for over 90% of global CO₂ emissions growth since the Paris agreement was signed. China and the US also suspended formal discussions on climate change in 2022. Increased economic competition between these two nations has resulted in export control restrictions and tariffs which have made green technologies like electric vehicles more expensive, which is certain to slow down the shift from fossil fuels.

    Russia joined the Paris agreement in 2019. Its first NDC was labelled “critically insufficient” by scientists, and its follow-up in 2020 did not include increased targets. Russia is maximising the extraction of resources such as oil, gas and minerals and its 2035 strategy for the Arctic included plans to sink several oil wells on the continental shelf.

    With the USA’s 2025 NDC in limbo, President Trump is eyeing mineral reserves in Ukraine and Greenland, further ramping up oil production and cutting international climate research funding.

    The European Union could have positioned itself as a leader of global climate action, in lieu of US involvement. But the EU, which submits NDCs as a bloc alongside individual country submissions, also failed to submit on time.

    Global shifts

    The failure of most nations to submit new emission plans suggests that the era of cooperation on climate change is over. The largest and most powerful of these nations are growing their military and diplomatic presence around the world, particularly in countries with large reserves of critical minerals for electric vehicles and other technology relevant to decarbonisation. The lack of NDCs from these nations may be less a matter of middling green ambitions, more an attempt to disguise their planned exploitation of other countries’ resources.

    If countries keep failing to submit enhanced NDCs, or even withdraw from their commitments entirely, scientists warn that global heating could reach a catastrophic 4.4°C by 2100. This scenario assumes the continued, unabated use of fossil fuels, with little regard for the climate.

    In a more optimistic scenario, countries could limit warming to around 1.8°C by 2100. This will require global cooperation and significant investment in green technology, and entail a transition to net zero emissions by mid-century. This is a process that must include everyone. Simply having the most powerful nations decarbonise by exploiting and hoarding resources will imperil this critical target.

    The actual outcome will probably fall somewhere between these two scenarios, depending on forthcoming NDCs and how quickly and thoroughly they are implemented. All of the scenarios envisaged by climate scientists will involve warming continuing for decades.

    The effects of this warming will vary, however, based on the path we choose today.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

    Doug Specht 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. Only 15 countries have met the latest Paris agreement deadline. Is any nation serious about tackling climate change? – https://theconversation.com/only-15-countries-have-met-the-latest-paris-agreement-deadline-is-any-nation-serious-about-tackling-climate-change-250847

    MIL OSI – Global Reports –

  • MIL-OSI Global: Assassin’s Creed Shadows introduces a black samurai – that’s not as unprecedented as critics claim

    Source: The Conversation – UK – By Fynn Holm, Junior Professor of Japanese Studies, University of Tübingen

    Fans of the video game franchise Assasin’s Creed have been pining for a game set in feudal Japan for decades. In theory, it looked like a match made in heaven.

    The series (which started in 2007 and has sold over 200 million copies) uses historical settings, such as ancient Greece, the Italian Renaissance or the American Revolution, to tell its fictional epic story of a battle between the Order of Assassins and the Knights Templar. What better scenario, then, than the Japanese civil war (1477-1600), where samurai and ninjas (known as shinobi) were fighting each other?

    Yet when the premiere trailer for Assassin’s Creed Shadows dropped on May 15 last year, it unleashed a torrent of criticism from fans around the world. By June, a Japanese-language petition had gathered over 100,000 signatures, claiming the game “insults Japanese culture and history” and “could be tied to anti-Asian racism”.

    The publisher of the franchise Ubisoft issued a public apology, delaying the game’s release multiple times. With other Ubisoft titles under-performing, Shadows rescheduled release on March 20 has become a high-stakes endeavour.

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    So what exactly had fans so enraged? Online, amateur historians highlighted what they saw as copious historical inaccuracies in the promotional material.

    However, none was deemed as damaging as the fact that one of the two playable characters in the game was based on the historical figure of Yasuke. Yasuke was a formerly enslaved black man from Mozambique who became a retainer of the Japanese warlord Oda Nobunaga (1534-1582).

    While the historical existence of Yasuke stands without question, some gamers took offence at the notion that Yasuke was being portrayed as a “black samurai”. That’s because the historical sources are not clear on whether Yasuke was considered a “samurai” by his contemporaries.

    The trailer for Assassin’s Creed Shadows.

    Some gamers argue that focusing on Yasuke, rather than a more typical Japanese-born warrior, represents a misguided attempt at diversity, equity and inclusion. Especially since the second playable character is a fictional female ninja named Naoe.

    To critics, highlighting these two characters allegedly overwrites the history of male Japanese samurai, injecting a “foreignness” they believe distorts the setting.

    White samurai in popular media

    Despite the uproar over Assassin’s Creed: Shadows, it’s not the first piece of media to depict a non-Japanese samurai.

    In James Clavell’s 1975 novel Shōgun, English navigator John Blackthorne (based on the real-life William Adams) becomes a samurai in the rank of hatamoto of the warlord Toranaga (based on Tokugawa Ieyasu).

    Historians also debate whether the real Adams was a true samurai, yet his “white samurai” image endures in adaptations like the 2024 FX series Shōgun, which garnered praise from critics across the ideological spectrum.

    Another famous instance is Nathan Algren (played by Tom Cruise) who in the movie The Last Samurai (2003) joins the Satsuma Rebellion of 1877 led by the charismatic Katsumoto (played by Ken Watanabe and based on Saigō Takamori).

    Katsumoto represents in the movie the “true” samurai spirit of male honour, duty, loyalty and principles. In the end, he dies in a final showdown against modern weaponry, but Tom Cruise’s character survives and reminds the emperor that Japan needs to honour its past despite the modernisation.

    The movie follows the formula of films like Dances with Wolves (1990), and later the first James Cameron Avatar movie (2009), in which a white character joins a minority population to “save” said people from their doom. This is also known as the “white savior complex”.

    Accuracy v authenticity

    Why, then, is Yasuke’s portrayal as a black samurai so contentious when white foreigners in similar roles have been widely accepted?

    Racism is one answer, but audience expectations about historical authenticity also play a key role. It’s critics claim that Shadows teems with historical inaccuracies, yet other celebrated titles, such as Ghost of Tsushima (2020) are just as historically inaccurate.

    Ghost of Tsushima is set during the 13th-century Mongol invasion. Yet the game developers decided to base their protagonists on the heavily idealised and romanticised samurai of 1950s Akira Kurosawa movies, which have little in common with their historical 13th-century counterparts.

    However, since these samurai conform to audience expectations of Japanese warriors with two swords that follow the largely fictional honour code of bushido, the game feels authentic even though it is historically inaccurate. By contrast, Yasuke’s presence in Shadows challenges a deeply ingrained notion of a xenophobic or sealed-off Japan – an anachronistic concept that overlooks evidence of foreign influence in the 16th century.

    While Ubisoft has taken creative liberties and introduced historical inaccuracies, this is consistent with what has been done in other Assassin’s Creed titles and historically inspired games in general. Yet while predominantly white (and even Japanese) cultures seem quick to forgive depictions of white samurai figures, the same leniency does not seem to extend to a black character.

    Fynn Holm receives funding from the German Research Foundation (Deutsche Forschungsgemeinschaft).

    – ref. Assassin’s Creed Shadows introduces a black samurai – that’s not as unprecedented as critics claim – https://theconversation.com/assassins-creed-shadows-introduces-a-black-samurai-thats-not-as-unprecedented-as-critics-claim-251293

    MIL OSI – Global Reports –

  • MIL-OSI Global: Fossil face discovery highlights challenges faced by Europe’s earliest settlers

    Source: The Conversation – UK – By Suzy White, Post-Doctoral Research Assistant, Ecology and Evolutionary Biology, University of Reading

    Piecing together the story of Europe’s earliest settlers is a challenge, largely
    because relevant human fossils are scarce. On March 12, researchers announced the
    discovery of a new fossil from the excavation site of Sime del Elefante, near Burgos in Spain.

    Known as ATE7-1, the new fossil consists of a partial face belonging to an ancient hominin, a biological classification that includes living humans and our closest extinct relatives, such as Neanderthals and Homo erectus. Nicknamed “Rosa” after one of her discoverers, the fossil includes part of the upper jaw, cheek and eye from an adult, and dates to between 1.1 and 1.4 million years ago. As such, she represents the oldest known partial face of a hominin from western Europe.

    Rosa is also a crucial piece of the puzzle explaining how and when humans first entered western Europe – and which species of hominin made those pioneering journeys.

    Hominins evolved in Africa. The first species to occupy multiple continents was Homo erectus, and the first fossil evidence we have of them beyond Africa comes from Dmanisi in Georgia. These fossils are around 1.8 million years old. However, stone tools from Grăunceanu (Romania) indicate that hominins had expanded further north even earlier than the Dmanisi finds – 1.95 million years ago.

    However, fossils from western Europe remain conspicuously absent until 1.4 million
    years ago. By contrast, we have more evidence of hominins moving into Asia during
    this time. They had reached Indonesia by 1.6 million years and descendants of these populations seem to have survived there until relatively recently. Early fossils from Asia are also more numerous and more complete, while their European counterparts are limited to an isolated tooth, a fragment of jaw and a partial skull cap.

    Despite being just a small part of the face, Rosa provides key insights into these
    elusive early European populations. The researchers compared Rosa’s facial
    features to Homo erectus fossils from Africa, Indonesia and Dmanisi. They also
    examined Rosa’s similarities to Homo antecessor, a later European species from Gran
    Dolina, a site close to Sima del Elefante.

    The evidence of settlement at Gran Dolina has been dated to about 860,000 years ago. While Rosa shares her delicate build with Homo antecessor, overall she has more affinities with the Homo erectus fossils – although not enough to confidently place her within this group.

    Rosa may therefore provide support for a hypothesis that the occupation of Europe
    by hominins was discontinuous, at least for the first million or so years. This means that hominins settled there, then went locally extinct and were replaced by other groups of hominins later on.

    Our closest relatives were not able to survive in Europe over long periods of time until much later. But why might that be? What made Europe harder to successfully inhabit than Asia? To begin to answer such questions, we have to combine the evidence from Rosa with what we already know about early human forays beyond their ancestral home continent of Africa.

    Smaller brains, longer legs

    The Dmanisi hominins are notable for their relatively small brains and basic tools.
    This challenged the idea that advanced tools and large brains were necessary for
    expansion beyond Africa. The tools from Grăunceanu are also relatively basic,
    despite the temperate and seasonal climate their makers would have experienced.

    The Dmanisi hominins also have relatively long legs, which would have allowed them
    to move more efficiently over long distances. Perhaps, then, efficient movement,
    rather than brain size or technology, was the driving factor allowing the initial
    expansion. But did the basic stone technology used by early Europeans prevent their long term occupation of the continent?

    It is likely that we will, in time, find even earlier fossils from western Europe. Further fossils from Sima del Elefante could reveal how variable Rosa’s group was, and enable us to either place her within an existing species, or create a new one.

    But, given the sparse information we have for now, the differences between Rosa, the Dmanisi hominins, and Homo antecessor fit within a model of short-term expansions into western Europe. These expansions were probably followed by a retreat of hominin populations into so-called refugia (locations where the environment and climate were more stable), as well as extinctions of local populations. This would have been driven by changing climatic conditions. For now, which and how many species ventured west into Europe is still unknown.

    Much else also remains unknown. Did early western Europeans survive long enough
    to give rise to later species such as Homo antecessor? And how was Homo
    antecessor     related to later European species? The European fossil record becomes
    more continuous from around 600,000 years ago, first with the appearance of
    a hominin species called Homo heidelbergensis, and then with the appearance of early Neanderthals (Homo neanderthalensis). In fact, these two species appear to have coexisted in Europe for some time.

    Later Europeans were also able to venture further north, with evidence of footprints of a mystery hominin at Happisburgh in the UK by 900,000 years ago. Nevertheless, as with Rosa’s species and Homo antecessor, the Neanderthals and Homo heidelbergensis eventually went extinct – along with all other species of humans globally, except our own.

    The changing climate and northern latitudes of western Europe presented a clear challenge for earlier hominins. As Europe’s climate continues to change, will Homo sapiens be the first hominin capable of long term survival here?

    Suzy White receives funding from the Leverhulme Trust, and has previously received funding from the Arts and Humanities Research Council.

    – ref. Fossil face discovery highlights challenges faced by Europe’s earliest settlers – https://theconversation.com/fossil-face-discovery-highlights-challenges-faced-by-europes-earliest-settlers-252413

    MIL OSI – Global Reports –

  • MIL-OSI Security: Former Real Estate CEO Sentenced to Five Years in Prison for Manipulating WeWork Stock with Fraudulent Tender Offer Scheme

    Source: Federal Bureau of Investigation FBI Crime News (b)

    Matthew Podolsky, the Acting United States Attorney for the Southern District of New York, announced that JONATHAN MOYNAHAN LARMORE was sentenced today to five years in prison for manipulating the stock price of WeWork, Inc. (“WeWork”) with a fake tender offer designed to fraudulently inflate the value of LARMORE’s own WeWork securities. LARMORE’s sentence was imposed by U.S. District Judge Paul A. Engelmayer, who also presided over a one-week trial after which LARMORE was convicted of one count of tender offer fraud and one count of securities fraud.

    Acting U.S. Attorney Matthew Podolsky said: “Jonathan Larmore treated the stock market like a game he could rig to obtain instant riches at the expense of innocent investors. As today’s sentence shows, this Office will continue to advocate for significant penalties against those who manipulate our markets and defraud investors.”

    According to the evidence presented in court during the trial:

    LARMORE is the former CEO of Arciterra Companies LLC, a real estate investment and management firm. In the fall of 2023, LARMORE perpetrated a scheme to use a false and fraudulent tender offer to manipulate the stock price of WeWork, a co-working space company that was publicly traded on the New York Stock Exchange.

    To execute his scheme, LARMORE created a sham real estate investment firm called Cole Capital Funds LLC (“Cole Capital”). LARMORE then spent more than $775,000 buying tens of thousands of cheap, short-dated, out-of-the-money WeWork call options and hundreds of thousands of shares of WeWork common stock. On November 3, 2023, LARMORE published a fake press release announcing that Cole Capital proposed to acquire 51% of all outstanding shares owned by minority shareholders of WeWork at a more-than-700% premium in an all-cash offer worth more than $77 million. At the time, WeWork was on the verge of bankruptcy. The press release itself contained a number of false and misleading claims about LARMORE and Cole Capital, and their ability to carry through with the purported tender offer.

    In fact, neither LARMORE nor Cole Capital had the intent or ability to execute the announced tender offer. Instead, LARMORE intended for news of the tender offer to fraudulently inflate WeWork’s share price and, thereby, to increase the value of LARMORE’s newly acquired WeWork call options and shares.

    Approximately one minute after LARMORE’s press release about his fraudulent tender offer was published, WeWork’s share price quickly increased during after-hours trading by more than 70% and continued to rise to a high of more than 150% over the stock price prior to the publication of the press release. The WeWork call options LARMORE purchased could have made him tens of millions of dollars with a big enough spike to WeWork’s stock price, but the vast majority of the options expired before LARMORE could publish his manipulative press release. The following Monday, November 6, 2023, WeWork filed for Chapter 11 bankruptcy protection. LARMORE never followed through on his fraudulent tender offer.

    *               *                *

    In addition to the prison term, LARMORE, 51, of Syracuse, Indiana, was sentenced to three years of supervised release during which the defendant must perform 500 hours of community service.

    Mr. Podolsky praised the outstanding work of the Federal Bureau of Investigation. Mr. Podolsky also thanked the U.S. Securities and Exchange Commission, which filed a civil action against LARMORE, for its assistance and cooperation in the investigation.

    This case is being handled by the Office’s Securities and Commodities Fraud Task Force.  Assistant U.S. Attorneys Adam S. Hobson, Sarah Mortazavi, and Justin V. Rodriguez are in charge of the prosecution. 

    MIL Security OSI –

  • MIL-OSI: Next Layer Capital Joins Bitcoin for Corporations Amid Growing Institutional Adoption

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, March 19, 2025 (GLOBE NEWSWIRE) — Next Layer Capital has officially become a member of Bitcoin for Corporations (BFC), an initiative led by BTC Inc to accelerate corporate Bitcoin adoption. This strategic move aligns the firm with a corporate network of teams integrating and advancing Bitcoin initiatives. 

    Next Layer Capital’s Role in the Digital Asset Ecosystem 
    Headquartered in Miami and New York City, Next Layer Capital brings together a team of Digital Asset and traditional finance experts in one entity.

    Their diversified expertise enables the firm to offer comprehensive services that assist both corporations and family offices with their Digital Asset goals. Their proficiency has led them to the development of turn-key digital asset allocation strategies. Additionally, Next Layer Capital provides institutional-grade financing solutions, crafting alternative capital structures that incorporate Bitcoin, thereby enhancing financial flexibility. The firm also optimizes deal structuring using ai-agent workflows in its backend to ensure efficient transaction processes. This multifaceted approach positions Next Layer Capital as a pivotal player in facilitating corporate, and ultra-high net worth, Bitcoin adoption.

    Bitcoin for Corporations: An Organization Dedicated to Advancing Institutional Adoption
    Bitcoin for Corporations serves as a key organization for businesses seeking to incorporate Bitcoin into their balance sheets and treasury strategies. The initiative connects corporate leaders with industry experts, offering education, financial models, and execution frameworks to facilitate large-scale adoption. By joining BFC, Next Layer Capital strengthens its role in expanding the Bitcoin ecosystem, offering advisory services that support corporate adoption.

    Strategy’s Aggressive Bitcoin Accumulation
    The announcement of Next Layer Capital’s membership in BFC coincides with significant developments in the institutional Bitcoin landscape. Notably, Strategy (formerly MicroStrategy) has continued its aggressive Bitcoin accumulation strategy. As of Mar 18, 2025, Strategy holds approximately 499,096 bitcoins, acquired at an average price of $66,473 per bitcoin, totaling nearly $27.95 billion in investment. To further bolster its Bitcoin holdings, Strategy unveiled plans to raise up to $21 billion through a stock-sale initiative, underscoring the company’s commitment to Bitcoin as a primary treasury reserve asset.

    Other Public Companies Embracing Bitcoin
    The following public companies are actively incorporating Bitcoin into their corporate treasury strategies:

    • MicroStrategy: The largest corporate holder of Bitcoin, with 499,096 BTC, valued at approximately $40.96 billion as of March 2025.
    • Metaplanet: A Japan-based hotel business that has integrated Bitcoin into its corporate treasury, holding 3,200 BTC, valued at approximately $262.84 million as of March 2025.
    • Semler Scientific: A medical technology company that develops healthcare diagnostic solutions, holding 3,192 BTC, valued at approximately $261.98 million as of March 2025.

    Notable companies with Bitcoin on their balance sheet:

    • Tesla, Inc: The electric vehicle manufacturer currently holds 11,509 BTC, valued at approximately $944.59 million as of March 2025.
    • Marathon Digital Holdings Inc.: One of the world’s largest Bitcoin mining companies, holding approximately 40,435 BTC, valued at $3.32 billion as of March 2025.
    • Coinbase Global Inc.: A leading cryptocurrency exchange and custodian, holding 9,000 BTC, valued at approximately $738.67 million as of March 2025.

    These developments indicate a broader acceptance of Bitcoin as a legitimate corporate asset class.

    Advancing the Institutional Bitcoin Narrative
    “Digital assets, like Bitcoin and Stablecoins more specifically, are reshaping financial strategies at both the corporate and sovereign levels,” said Brandon Turp, Co-Founder at Next Layer Capital. “Joining Bitcoin for Corporations is a step toward providing the expertise necessary for corporations and family offices to integrate Bitcoin effectively.”

    As macroeconomic pressures drive increased demand for non-sovereign financial assets, Next Layer Capital’s participation in Bitcoin for Corporations marks a significant milestone in the evolution of corporate Bitcoin adoption. Corporations and family offices interested in exploring Digital Asset Strategies, like Bitcoin and Stablecoin integration, are encouraged to consider Next Layer Capital’s advisory services. 

    This development highlights the growing institutional acceptance of Bitcoin and reflects a broader shift toward digital asset integration in corporate finance.

    About Next Layer
    Next Layer Capital is a digital asset advisory firm that provides institutional-grade capital markets solutions to corporations, family offices, and nation-states looking to gain exposure to the digital asset ecosystem. Founded in 2024, the firm is dedicated to accelerating the global adoption of Bitcoin and digital assets. 

    Contact

    Co-Founder
    Brandon Turp
    Next Layer Capital
    turp@nextlayer.capital

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6918b242-b1ae-440c-95c3-dc8dbadd5ce1

    The MIL Network –

  • MIL-OSI Economics: APAC deal activity faces challenges in early 2025, but some pockets of growth exist, finds GlobalData

    Source: GlobalData

    APAC deal activity faces challenges in early 2025, but some pockets of growth exist, finds GlobalData

    Posted in Business Fundamentals

    The Asia-Pacific (APAC) deal landscape has experienced a notable shift in early 2025, reflecting a complex interplay of market dynamics and economic conditions. In the first two months of 2025, the total deal volume* in the APAC region has seen a decline of approximately 8% compared to the same period in 2024. However, few countries in the region witnessed an increase in deal volume, reflecting that some pockets of growth still exist for funding activity, according to GlobalData, a leading data and analytics company.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Analyzing the trend across various deal types and key markets reveals both challenges and opportunities that stakeholders must navigate.”

    An analysis of GlobalData’s Deals Database revealed that the overall downturn is majorly driven by a significant reduction in venture financing activity, which contracted by around 13% during January-February 2025 compared to January-February 2024, reflecting a cautious approach from investors in the current economic climate.

    The impact was pronounced in mergers and acquisitions (M&A) activity, which contracted by 5%. M&A transactions, traditionally a barometer of corporate confidence and strategic growth, appear to be under pressure as companies reassess their expansion strategies.

    Conversely, private equity deals have shown resilience, with deal volume mostly remaining at the same level during the review period.

    Bose adds: “Meanwhile, a closer examination of the deal volume across select top markets within the APAC region reveals a mixed picture.”

    China, historically a powerhouse in deal-making, experienced a substantial decline of more than 20% in deal volume. This drop can be attributed to regulatory challenges and economic slowdown. In contrast, India emerged as a bright spot, with a growth of more than 10% in deal volume. This growth underscores India’s potential as a burgeoning market for deal-making.

    Japan has also demonstrated remarkable resilience with a growth rate of around 35%. Meanwhile, Australia and South Korea have both seen significant declines. These declines highlight the challenges faced by these markets, including economic uncertainties and geopolitical tensions that may be impacting investor sentiment.

    Other markets such as Singapore and Malaysia have also reported declines. This trend suggests that even established financial hubs are not immune to the broader market pressures affecting the region.

    Bose concludes: “Although the APAC deal landscape in early 2025 is characterized by a decline, pockets of growth, particularly in India and Japan, suggest that opportunities still exist for savvy investors.”

    *Coverage includes mergers & acquisitions (M&A), private equity and venture financing deals

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain

    MIL OSI Economics –

  • MIL-OSI Economics: NHS approval of endometriosis therapy Ryeqo enhances patient care, eases healthcare strain, says GlobalData

    Source: GlobalData

    NHS approval of endometriosis therapy Ryeqo enhances patient care, eases healthcare strain, says GlobalData

    Posted in Pharma

    The National Health Service (NHS) in England has approved Gedeon Richter’s Ryeqo, the first long-term pill available for endometriosis for patients who have exhausted all other treatment options. The approval addresses the long-standing gap in long-term treatment options for endometriosis, improving overall disease management while easing the burden on healthcare resources, says GlobalData, a leading data and analytics company.

    GlobalData’s report, “Endometriosis Market Size and Trend Report,” reveals that the endometriosis market size across the seven major markets* (7MM) is expected to achieve a compound annual growth rate of more than 9% during 2020-2030.

    A few of the major endometriosis market growth drivers across the 7MM include improvements in non-invasive diagnostic methods, such as the utilization of biomarkers, which should further increase the number of early diagnoses.

    Ryeqo is a combination medication containing relugolix (a GnRH antagonist), estradiol (a form of estrogen), and norethisterone (a synthetic progestin). Together, these three components help regulate estrogen and progesterone levels—key hormones involved in endometriosis—effectively reducing symptoms and improving overall disease management.

    According to the key opinion leaders (KOLs) interviewed by GlobalData, injectable treatments for endometriosis often present challenges in patient adherence and comfort. The approval of relugolix-estradiol-norethisterone as a standard NHS treatment improves accessibility, reduces the need for invasive procedures, and gives patients more control in managing their condition.

    By eliminating the need for multiple medications and frequent clinic visits for injections, this oral treatment offers a more convenient alternative. Unlike injections, which may initially worsen symptoms, the pill is taken at home and combines all necessary hormones into one convenient tablet.

    Dr Shireen Mohammad, Senior Cardiovascular and Metabolic Disorders Analyst at GlobalData, comments: “By eliminating the need for multiple medications and frequent clinic visits for injections, this oral treatment offers a more convenient alternative. Unlike injections, which may initially worsen symptoms, the pill is taken at home and combines all necessary hormones into one convenient tablet. The oral route of administration offers greater clinical control over treatment, as dosages can be adjusted, and the medication can be quickly discontinued if necessary. This flexibility provides a significant advantage over long-acting injectable medications, allowing for easier management of side effects and treatment interruptions when needed.”

    Additionally, KOLs highlighted the lack of long-term treatment options for endometriosis, as most available medications are only approved for short-term use. Ryeqo helps address this gap by offering a sustained, long-term therapy, providing continuous symptom relief through hormonal regulation. This makes Ryeqo a valuable, non-invasive alternative for patients seeing effective, ongoing management of their condition, ultimately improving their quality of life.

    Dr Mohammad concludes: “The UK joins other nations in expanding access to endometriosis treatment, offering hope for continued progress in patient care. This approval enhances patients’ quality of life while also reducing strain on the NHS by decreasing hospital visits and the need for surgical procedures. Additionally, Ryeqo’s approval brings the UK in line with global advancements in endometriosis treatment, ensuring women have access to a more effective and convenient option.”

    7MM: The US, France, Germany, Italy, Spain, the UK and Japan.

    MIL OSI Economics –

  • MIL-OSI Global: Can animals make art?

    Source: The Conversation – USA – By Shawn Simpson, Visiting Lecturer in Philosophy, University of Pittsburgh

    A male satin bowerbird stands before his creation. Ken Griffiths/iStock via Getty Images

    In the forests of eastern Australia, satin bowerbirds create structures known as “bowers.”

    The males gather twigs and place them upright, in two bundles, with a gap in the middle, resulting in what looks like a miniature archway. All around the bower the bird scatters small objects – shells, pieces of plastic, flower petals – which all possess the same property: the color blue.

    Studies suggest that the purpose of the bowers is to impress and attract females. But their beauty and intricacy has left some researchers wondering whether they shouldn’t be considered art.

    Of course, figuring out whether something is a work of art requires answering some tricky philosophical questions. Are animals even capable of creating art? And how can we tell whether something is a work of art rather than just a coincidentally beautiful object? As a philosopher and artist who’s interested in aesthetics and biology, I recently wrote about the evolution of behaviors in animals that could be seen as art.

    A contested concept

    First, it’s important to outline various theories of what makes something a work of art.

    There’s a general agreement that art must have some sort of producer and some possible or intended audience. In this way, it’s similar to other forms of communication.

    But the rest of the picture is unclear, and there’s no universally agreed-upon definition of art. In fact, art has proven so difficult to define that Scottish philosopher W.B. Gallie once suggested it might be an “essentially contested concept” – an idea for which there is no correct definition.

    That being said, some popular views have emerged.

    Leo Tolstoy famously suggested art is a conduit for emotion, writing in 1897 that “one man consciously, by means of certain external signs, hands on to others feelings he has lived through, and that other people are infected by these feelings and also experience them.”

    Plato and Aristotle emphasized the representational role of art: the idea that a work of art must in some way mimic, depict or “stand in” as a sort of sign for something else.

    Some philosophers believe that creating art requires intention – for example, a sculptor will mold clay with the intention of having it look like Abraham Lincoln. And nonhuman animals, they’ll argue, simply don’t have the right kind of intentions for art-making.

    Art, beauty and sex

    And yet, it’s not clear how much intention really does matter for art.

    Philosopher Brian Skyrms has pointed out that communication arises even in animals that plausibly do not have sophisticated intentions like our own. For example, fireflies signal to mates with flashes, and this seems to be largely an evolved behavior. Communication can even emerge via simple reinforcement learning, as when a dog learns to associate a certain call with dinner.

    These aren’t instances of art. But they reveal how meaningful signs or representations can operate without the need for complex intentions. Given that much art also serves a communicative role, I argue that there’s reason to think that art might be able to come about in less intention-demanding ways too.

    Ornithologist Richard Prum also takes a communicative view of art, but one where art is meant to be evaluated for its beauty. The beauty of a work functions as an indicator of the artist’s reproductive fitness, or their having “good genes” – and this can apply to both humans and animals.

    Charles Darwin, musing about birds in “The Descent of Man,” also thought at least some animals appreciate beauty:

    “When we behold a male bird elaborately displaying his graceful plumes or splendid colours before the female, whilst other birds, not thus decorated, make no such display, it is impossible to doubt that she admires the beauty of her male partner.”

    Some might not like an account like Prum’s, since it seems to allow creations like bowers to count as art. And yet, as philosopher Denis Dutton points out in his 2009 book “The Art Instinct,” mate attraction and fitness broadcasting can be the primary motivation behind many human works of art too: just consider the stereotype of the sex-hungry rock musician.

    Whale ballads and pig paintings

    I think it’s safe to say some animal creations don’t count as art. The webs of most spiders, though intricate and carefully designed, appear to exist for utilitarian purposes and serve no evaluative or communicative function. The same goes for most anthills.

    But what about animal songs?

    The structures of the songs of humpback whales are complex, featuring parts and repeated patterns that researchers often describe as “themes” and “verses.” The songs are long – sometimes up to 30 minutes. Because males perform these songs primarily during mating season, it’s plausible that female whales assess them for their beauty, which serves as a way to gauge the singer’s genetic fitness. Details of songs even vary from whale population to population, often changing over the course of a mating season.

    Then there are animals that have been trained to make art. Pigcasso was a pig in South Africa whose trainer taught her to paint on canvas via reinforcement learning. The trainer would pick out the colors for Pigcasso, and Pigcasso would do the brushing. Was Pigcasso really an artist? Were her paintings works of art?

    Pigcasso was taught to paint by her trainer.
    Kristin Palitza/Picture Alliance via Getty Images

    Pigcasso was plausibly making these paintings for reasons other than her own desire to communicate or make something beautiful; she was motivated, at least in part, by “piggy treats.” The trainer chose the colors. But Pigcasso did, in the end, have some aesthetic freedom: She had control over her brushstrokes.

    Off the coasts of Japan, male white-spotted puffer fish create impressive nests to attract females. The male puffer fish uses his mouth to remove rocks from the sand and his body to wiggle out long, strategically placed grooves. The finished product is a multi-ringed sand mandala about 6 feet in diameter.

    Like the bowers, the nests of the puffer fish are beautiful and involve mate attraction. Yet some researchers argue that since these sorts of works all look roughly the same – have the same shape, use the same materials and so on – they’re more likely the result of evolved, inflexible dispositions than more creative processes.

    Male white-spotted puffer fish create elaborate designs in the sand to attract mates.

    But it’s worth noting that many human works of art bear core similarities as well. Many paintings use flat surfaces, oils or acrylics. Many songs follow the same chord patterns. And would we still consider human sculptures art if we discovered much about the motivation to build them could be explained by evolution? I wager we would.

    Birds bust a move

    Many human cases of art involve more than one person, sometimes even a large group. Think of all the people it takes to make a modern film. Does anything like that happen in animals?

    Consider the blue manakin bird of South America. Male blues will form groups, often of three or more, which then practice an elaborate song-and-dance routine to later perform in front of females. The practice is detailed and dutiful. The groups hone their moves. This involves learning and memorization, not just genetics. Flaws in the performance are challenged and corrected. Sometimes during practices, a juvenile male will even fill in as a mock female.

    Some blue manakins spend years honing their dance moves.

    It’s not The Beatles. But the similarity to music groups seem hard to deny.

    At the same time, it’s worth wondering whether, beyond conveying their eagerness to mate, the birds are trying to “say” or “express” anything more with their performance. And do they know it’s beautiful?

    All this leaves room for doubt about whether animals really make art.

    To me, a key question is whether there’s any animal art that doesn’t have to do with mating, and instead expresses something more complex or sentimental. Without being able to get into the heads of animals, it’s hard to say. But it’s plausible that humans aren’t alone in their artistic pursuits.

    Shawn Simpson 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. Can animals make art? – https://theconversation.com/can-animals-make-art-248503

    MIL OSI – Global Reports –

  • MIL-OSI Global: Fires, wars and bureaucracy: The tumultuous journey to establish the US National Archives

    Source: The Conversation – USA – By Elizabeth Call, University Archivist, RIT Libraries and Archives, Rochester Institute of Technology

    The 1952 procession to deliver the Declaration of Independence and Constitution from the Library of Congress to the National Archives included military guards and a tank. National Archives

    Some of the United States’ most important historical documents, including the Declaration of Independence, the Constitution, the Bill of Rights and the Emancipation Proclamation, are housed in the U.S. National Archives. Beyond these high-profile items, it also preserves lesser-known but no less vital records, such as national park master plans, polar exploration documents and the records of all U.S. veterans. Together, these materials stand as a testament to the country’s commitment to preserving its history.

    While these crucial documents in U.S. history now have a home in the National Archives, the road to establishing this institution was paved with catastrophic losses and bureaucratic inertia.

    Creating the National Archives required decades of advocacy by historians, politicians and government officials. The National Archives was not simply an administrative convenience – it was a necessity born from repeated disasters that underscored the fragility of government records. And with President Donald Trump’s firing of the head archivist in February 2025, as well as the loss of several high-level archives staff members, the organization faces a new era of uncertainty.

    Documentary heritage – the recorded memory of a nation that preserves its cultural, historical and legal legacy – is essential for a country as it safeguards its identity, informs its governance and ensures that future generations can understand and learn from the past.

    I am a university archivist with two decades of experience in the library and archives field. I oversee the preservation and accessibility of historical records at Rochester Institute of Technology, advocate for inclusivity, and engage in national conversations on the evolving role of archives in the digital age.

    Understanding the precarious nature of historical records, it’s clear to me that maintaining, staffing and funding the National Archives is a necessary safeguard against the destruction of the nation’s documentary heritage.

    People line up to view the original Emancipation Proclamation on Martin Luther King Jr. Day, Jan. 19, 2004, at the National Archives building in Washington, D.C.
    Tim Sloan/AFP-Getty Images

    Destroyed by fire

    The idea of preserving the government’s records dates back to the country’s founding. Charles Thomson, secretary of the Continental Congress during the American Revolution and then secretary of Congress under the Articles of Confederation, recognized the need for proper storage of the Congress’ records.

    But the young nation lacked the money and infrastructure to act. Many of the Continental Congress’ records were kept by Thomson himself for years, and while some were later transferred to the Department of State, others were lost.

    Throughout the 19th and early 20th centuries, fires repeatedly ravaged federal records. Fires were very common in the 19th century due to a combination of highly flammable building materials, open frames used for lighting and heating, and the lack of modern fire safety measures such as sprinklers and fire-resistant construction.

    In 1800, a blaze destroyed the War Department’s archives, a loss that severely hampered government operations. In 1810, Congress authorized better housing for government records, but the law was never fully executed. Instead, different parts of the government, from the Department of State to the Department of Treasury, continued maintaining their own records.

    The Treasury Department suffered fires in 1801 and again in 1833, further erasing crucial financial records. The Patent Office, home to invaluable documentation of American innovation, burned in 1877, having already been damaged by an 1836 fire.

    Storage at the federal Office of Indian Affairs in 1935.
    National Archives Foundation

    One of the most devastating losses occurred in 1921 when a fire at the Department of Commerce destroyed nearly all records from the 1890 federal census. This loss had far-reaching consequences, particularly for genealogical and demographic research.

    Fires weren’t the only threat to the government’s records.

    “It is a matter of common report that during the civil war, great quantities of documents stored in the Capitol were thrown away to make quarters for soldiers,” Historian and founding member of the American Historical Association J. Franklin Jameson noted in a 1911 Washington Post article.

    “At a later date,” he added, “the archives of the House of Representatives were systematically looted for papers having a market value because of their autographs.”

    Jameson spent decades lobbying Congress for a centralized repository. His persistence, coupled with the advocacy of key officials, laid the groundwork for future action.

    A bound copy of George Washington’s account of expenses while commander in chief of the Continental Army.
    National Archives and Records Administration

    These repeated disasters illuminated a glaring issue: The federal government lacked a centralized, protected repository to safeguard its records.

    Finding a home

    Momentum for a dedicated archives building gained traction in the late 19th century. In 1903, a bipartisan bill passed Congress giving the OK to purchase land in Washington, D.C., for a Hall of Records.

    But the legislation didn’t lead to any action. Government records remained scattered, vulnerable and neglected. That same year, Congress authorized that any records not needed for daily business be transferred to the Library of Congress.

    In 1912, President William H. Taft issued executive order 1499, aptly named Disposal of Useless Papers, requiring agencies to consult the librarian of Congress before disposing of documents.

    This established a formal review process for government document disposal, but agencies still discarded records, often haphazardly, until stricter records management laws were enacted.

    In 1926, Congress passed the Public Buildings Act, authorizing construction of an archives facility in Washington, D.C. Departing president Herbert Hoover laid the cornerstone of the new building on Feb. 20, 1933. He then deposited facsimiles of the Declaration of Independence and the Constitution, an American flag and daily newspapers from that day underneath the cornerstone.

    Growth and standardization

    President Franklin D. Roosevelt, who took office two weeks later, was himself a meticulous record-keeper. He understood the importance of historical preservation. Roosevelt kept all of his personal and presidential records and books in a fire-safe space he built on his Hyde Park, New York, property, which he donated to the government after he died. This building and the materials inside became part of the National Archives as the first U.S. presidential library.

    The National Archives, an independent agency, was officially established under Roosevelt in the 1934 National Archives Act. The head archivist was to be appointed by the president. The first archivist, Robert D.W. Connor, took office that year with a mandate to organize, preserve and make accessible the nation’s records.

    Initially, the National Archives was simply a building – an impressive neoclassical structure in Washington, D.C., that opened in 1935. The very first records deposited there came from three World War I-era regulatory agencies – the U.S. Food Administration, the Sugar Equalization Board and the U.S. Grain Corporation.

    Initially, the Archives lacked a formalized records management program. There were no clear guidelines on what to keep and what to discard, so agencies made their own decisions. This led to inconsistent preservation.

    The creation of the first federal records administration program in 1941, together with the 1943 Records Disposal Act, codified things. These policies granted the National Archives authority to establish a structured approach to determining which records held historical value and should be preserved, while allowing for the responsible disposal of other documents.

    A 1950 law gave the National Archives more power to decide what should be kept and what could be discarded, creating a more organized and accountable system for preserving the nation’s history.

    As the volume of records increased and their formats changed, the archives adapted. By 2014, amendments to the Federal Records Act explicitly included electronic records, recognizing the shift toward digital documentation.

    Stacks at the National Archives in Washington in 1950, where rare photographs and national records are ordered and stored.
    Three Lions/Getty Images

    Ensuring accountability

    Beyond mere storage, the National Archives plays a vital role in upholding democracy.

    It ensures transparency by preserving government accountability, preventing manipulation or loss of records that could distort historical truth. The National Archives also provides public access to documents that shape civic awareness and historical knowledge, from the Declaration of Independence to declassified government files.

    In an era of digital misinformation and contested narratives, the National Archives stands as a guardian of primary sources. Its existence reminds the nation that history is not a matter of convenience, but a cornerstone of informed governance.

    Elizabeth Call is a member of the Society of American Archivists.

    – ref. Fires, wars and bureaucracy: The tumultuous journey to establish the US National Archives – https://theconversation.com/fires-wars-and-bureaucracy-the-tumultuous-journey-to-establish-the-us-national-archives-250857

    MIL OSI – Global Reports –

  • MIL-OSI Russia: School of International Cooperation Opens at HSE

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Higher School of Economics

    School of International Cooperation created in the structure Faculty of World Economy and World Politics (FMEiMP) Vyshki. The school launches, promotes and implements programs of additional education and professional retraining, corporate education programs and international intensive trainings for working specialists and managers interacting with foreign government officials and businessmen, as well as foreign entrepreneurs, students and scientists.

    Dean of the Faculty of World Economy and International Relations Anastasia Likhacheva, opening the presentation, emphasized that the main task of the school is to implement projects in the interests of the country, to promote Russian interests in the international arena. “There is no single formula for what key opens the hearts of partners. We are glad that our faculty is creating a platform that will unite enthusiasts of international cooperation,” said Anastasia Likhacheva.

    Senior Director of the National Research University Higher School of Economics Andrey Lavrov noted that last year, during the elections of the Academic Council, a formula was developed that reflects the essence of the current HSE: a university for the development of all of Russia, open to the world. He called international cooperation a priority for HSE and the Faculty of World Economy and International Relations. Andrey Lavrov is confident that the opening of the School of International Cooperation will help to realize the most ambitious goals of developing additional professional education at the National Research University Higher School of Economics. “The development of adult education is an area where we can achieve great success. I am very glad that you have become pioneers in the new wave of development of additional professional education at HSE, congratulations,” Andrey Lavrov said, addressing the heads of the faculty.

    “It’s nice to be pioneers,” Anastasia Likhacheva responded. She recalled that HSE began its turn to the East many years ago (700 students currently study Chinese at HSE) and expressed hope that the school will contribute to the development of Russian-Chinese cooperation.

    Minister-Counselor of the Chinese Embassy in Russia Zhao Wei read out a greeting from the Ambassador Extraordinary and Plenipotentiary of China Zhang Hanhui, in which he congratulated HSE on the opening of the School of International Cooperation. HSE was described as a leader in the field of innovation development and a university that makes an invaluable contribution to the formation of the international agenda. In her congratulatory letter, the Ambassador emphasized the role of the Academic Director of the Faculty of World Economy and International Relations Sergey Karaganov in strengthening HSE ties with leading universities in China and developing bilateral cooperation.

    Zhang Hanhui noted in his congratulatory letter: China and Russia have common positions in solving international problems and forming a fair world order. “I am convinced that the school will become the foundation for training new types of specialists with cross-cultural competence and skills in solving international problems. I hope that the establishment of the school will contribute to deepening Chinese-Russian cooperation in personnel training and strengthening cooperation with the countries of the Global South,” he emphasized.

    According to FMEiMP research professor Fyodor Lukyanov, the university and faculty do not move at the mercy of the winds, but strive to create and strengthen these winds themselves. Now, he added, the world is in an amazing state, when what was impossible yesterday is obvious today, and tomorrow will be completely different from what we imagine. The professor noted: international cooperation is necessary in any situation in the world, it should be strengthened and supported. Now it is important to create new connections, while maintaining the old ones. “Support for the implementation of international cooperation projects, learning it throughout life – this is what we need to exist in, this is such an environment,” said Fyodor Lukyanov.

    Now, he believes, the quality of expertise is extremely important, since no high-level manager operates in a vacuum, but operates in an environment with a large volume of events and trends, where when making decisions, not only knowledge is important, but also intuition, which develops, among other things, thanks to knowledge.

    The head of the School of International Cooperation, Deputy Dean of the Faculty of World Economy and International Relations for Continuing Education Yulia Belous noted: the school offers a wide range of continuing education programs, winter and summer schools for different categories of students.

    The training programs are divided into four levels. The first one is “Starting a Career — Key to a Career” — for students and young professionals with 1 to 3 years of work experience. Next comes the “New Facets” stage — training in new skills for professionals with 3 to 5 years of experience, then “Time to Act” — for foreign professionals and those who need to enter a foreign market. And finally, the fourth level is strategic sessions for managers with leading experts in international relations, global economics, orientalists and regional experts who create a vision of the principles of work in eastern markets, the foundation for effective operations and competition with existing players. They are aimed at obtaining practice-oriented knowledge for work in different countries and regions.

    Head of the professional retraining program of the Faculty of World Economy and International Relations “Eastern Perspective: Strategy and Tactics for Building a Business» Natalia Guseva noted that the program is aimed at developing an effective strategy for working in the East, understanding the specifics of business and entrepreneurship in these countries, as well as the practice of doing business in India, China, Japan and South Korea. This is a three-week program that involves developing one’s own projects.

    A 10-day intensive programme has also already been formed. program for foreign entrepreneurs who want to work in Russia. They will learn about the peculiarities of the Russian financial and tax system, the specifics of business cooperation with Russia, and will gain an understanding of the cultural characteristics and values of Russia and its peoples. This is a program in which leading speakers and experts will speak.

    Deputy Executive Director – Director of Strategic Partnerships at Innopraktika Anastasia Pavlenko spoke about the program for transferring competencies in the field of digitalization of public administration to African countries – an important international initiative that is being implemented Center for African Studies HSE University with the support of Innopraktika. She emphasized that Russia is currently one of the world leaders in the field of digitalization of the public sector, and the experience of overcoming sanctions pressure and repelling a large number of cyberattacks seems valuable for friendly countries, with which Russia is ready to exchange knowledge in this area.

    Also in her speech, Anastasia Pavlenko mentioned the direction of Innopraktika’s activities to support the entry of private high-tech companies – “national champions” – into the foreign market and the promotion of their solutions in friendly countries. In conclusion, she drew attention to the high potential of international cooperation in the development of education, science and culture.

    Deputy Director of the HSE Center for African Studies Polina Slyusarchuk added: the center held a series of workshops with experts and scientists from different African countries. One of the programs is dedicated to food security of countries and regions, within its framework, participants are invited not only to study the problem, but also to propose ways to solve it. The center also created a program of additional professional education on running a practical business on the continent.

    Director General of the Russian International Affairs Council Ivan Timofeev noted: the concept of international cooperation is very broad and includes economic, scientific, military-technical and cultural interaction, each of which has its own characteristics. It is important to understand how different aspects of interaction, from chess to sensitive technologies, can be used as a country’s soft power, how to integrate their various elements into foreign policy.

    “Your project is not an adventure, it is an initiative based on the ecosystem and human capital of HSE. Your programs will be in great demand,” Ivan Timofeev is confident.

    Head of the Center for Educational Solutions and Work with Universities of the TMH Corporate University (TMH Group) Alexander Belyashin congratulated the faculty on the opening of the school. He said that in the modern world, educational partnership is an integral part of international cooperation and the opening of such an institute as the HSE School of International Cooperation is an excellent and timely decision. In turn, TMH JSC has been preparing and developing the company’s engineering potential for several years and this year, together with the Tashkent State Transport University, it created a scientific and educational center in Uzbekistan, on the basis of which it is planned to train design engineers and process engineers in joint master’s programs and additional professional education programs. He noted the high potential of the School of International Cooperation, where not only general problems will be studied, but also specific cases of bilateral and multilateral interaction.

    Vice President of the Vyzov Foundation Elena Eremenko spoke about the Vyzov Foundation Prize, the international track “SCIENCE. DIALOGUE. TRUST”, within the framework of which an international assembly, seminars and scientific breakfasts on “scientific diplomacy” are held. Elena Eremenko also emphasized the desire to continue intellectual cooperation with the FMEIP on the “scientific diplomacy” track and in the line of interaction with students.

    Roscongress Foundation Supervisory Board Member Dimitrios Velanis recalled that even during the most difficult periods of international relations, for example in the early 1980s, during the period of sanctions imposed on the USSR after the introduction of troops into Afghanistan, businesses, including those from Western countries, found opportunities to work in the Soviet Union.

    Head of Corporate Programs for Universities at SberUniversity Natalia Konshina spoke about the case of training advanced engineering schools of Russian universities. Together with the head of the School of International Cooperation, they presented possible areas of cooperation on the international track – risks and barriers in international scientific and technical cooperation.

    Anna Bessmertnaya, Chairperson of the Commission on Foreign Economic Cooperation with Partners from China of the Moscow Chamber of Commerce and Industry, spoke about trends in training personnel for Russian-Chinese cooperation and the “Start Your Business with Moscow” project for young specialists.

    The presentation of the School of International Cooperation was also attended by the head of the program “International cooperation in the context of global reassembly» HSE University, Deputy Head of the Department of International Relations of the Faculty of World Economy and World Politics of HSE University Dmitry Novikov. He spoke about the relevance and features of the program, its advantages.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Passage of air quality bill welcomed

    Source: Hong Kong Information Services

    The Government welcomed the Legislative Council’s passage of the Air Pollution Control (Amendment) Bill 2024 today.

    To more effectively combat unlicensed specified processes operations that may cause serious air pollution, the bill introduces a statutory closure notice mechanism.

    At the same time, the amendment exercise optimises the scope of “cement works” and the definition of “premises” under specified processes to avoid misinterpretation or control circumvention, such that the trade could enjoy a clearer and fairer business environment.

    The amendment exercise also tightens five existing Air Quality Objectives (AQOs) and adds three parameters newly introduced by the World Health Organization to its Global Air Quality Guidelines.

    Among the 15 updated AQOs, seven are set at the most stringent levels of the guidelines, which are on par with those of other advanced economies.

    The bill will come into effect on April 11.

    The Government said Hong Kong’s air quality has continued to improve through the implementation of local control measures and close collaboration with the Guangdong Provincial Government.

    Over the past two years, the city has recorded a 40%-80% decrease in the concentrations of major air pollutants, attaining the best air quality level since its return to the motherland, it added.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Defense News: Navy Culinary Specialists Showcase their skills at the 49th Joint Culinary Training Exercise

    Source: United States Navy

    FORT GREGG-ADAMS, Va. – Culinary Specialists (CS) from across the fleet competed at the 49th annual Joint Culinary Training Exercise (JCTE), which ran from Feb. 28 until March 7, 2025, at Fort Gregg-Adams, Virginia. This year’s training event attracted over 150 U.S. military personnel from installations and activities worldwide, alongside allied forces teams from the Republic of Korea, Germany, the U.K., and France.

    MIL Security OSI –

  • MIL-OSI: Regula Blog Wins 2025 Cybersecurity Excellence Awards

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., March 19, 2025 (GLOBE NEWSWIRE) — Regula, a global developer of forensic devices and identity verification solutions, is proud to announce that its blog has been accoladed as the Best Cybersecurity Blog in the 2025 Cybersecurity Excellence Awards. Providing diverse expert content such as how-to guides, original analytics, and detailed visuals, the Regula Blog serves as a valuable resource for the general public and niche professionals.

    The Regula Blog has been named the Best Cybersecurity Blog by the 2025 Cybersecurity Excellence Awards

    For more than a decade, the Cybersecurity Excellence Awards have honored individuals, teams, and companies that demonstrate exceptional performance and innovation in cybersecurity.

    The Regula Blog received the award for its expert insights, authoritative opinions, real-world fraud case analyses, practical guides, and forward-looking discussions on evolving security challenges.

    With over 18,000 unique readers per month, the Regula Blog is a fast-growing knowledge hub for professionals in cybersecurity, forensic science, and identity verification. The blog provides in-depth content on deepfake detection, facial recognition, document authentication, forensic examination, and more, to ensure that businesses and professionals get the timely and relevant knowledge they need.

    “In today’s rapidly evolving digital landscape, trust and security are more critical than ever. Our blog is more than just industry news—it’s a true knowledge hub designed to educate and empower professionals tackling identity fraud, document forgery, and cybersecurity risks. Winning this award is an honor and a testament to our team’s effort in providing actionable content that helps businesses navigate today’s complex security challenges,” says Ihar Kliashchou, Chief Technology Officer at Regula.

    These are the current top 10 most-read Regula Blog articles:

    For more insights and expert analysis, visit the award-winning Regula Blog.

    About Regula

    Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

    Learn more at www.regulaforensics.com.

    Contact:
    Kristina – ks@regulaforensics.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b43b713b-6760-4e89-8a88-6a6561fad951

    The MIL Network –

  • MIL-OSI: Kingsoft Cloud Announces Unaudited Fourth Quarter and Fiscal Year 2024 Financial Results; First Time Operating Margin Profitable with Accelerated Growing Revenue of AI Cloud

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, March 19, 2025 (GLOBE NEWSWIRE) — Kingsoft Cloud Holdings Limited (“Kingsoft Cloud” or the “Company”) (NASDAQ: KC and HKEX: 3896), a leading cloud service provider in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024.

    Fourth Quarter Financial Highlights

    • Total Revenues reached RMB2,232.1 million (US$305.8 million)1, increased by 29.6% year-over-year from RMB1,722.5 million in the same quarter of 2023. Our business has experienced accelerated and high-quality growth and our revenue structure is well-balanced.
    • Gross profit was RMB426.0 million (US$58.4 million), representing a significant increase of 68.3% from RMB253.1 million in the same quarter of 2023. Our profitability has been fundamentally improved.
    • Non–GAAP EBITDA2 was RMB359.7 million (US$49.3 million), compared with RMB-27.7 million in the same quarter of 2023. Non–GAAP EBITDA margin was 16. 1%, compared with -1.6% in the same quarter of 2023.
    • Operating loss was RMB43.5 million (US$6.0 million), compared with operating loss of RMB342.7 million in the same quarter of 2023.
    • Non–GAAP Operating profit (loss) turned profit for the first time, achieving RMB24.4 million (US$3.3 million), compared with RMB-187.6 million in the same quarter of 2023. Non–GAAP Operating profit (loss) margin was 1. 1%, compare with -10.9% in the same quarter of 2023.

    Mr. Tao Zou, Chief Executive Officer of Kingsoft Cloud, commented, “We are very pleased to close Fiscal Year 2024 with historically strong financial performance. This quarter, we recorded positive non–GAAP operating profit (loss)for the first time, demonstrating our unwavering execution of the ‘High- quality, Sustainable Development Strategy’. Driven by the growing popularity of AI applications, we firmly believe that AI will continue to penetrate into various verticals, improving the efficiency of daily life. This quarter the gross billing of AI business increased by triple-digit year-over-year to RMB474 million. Both our public cloud and enterprise cloud businesses are harnessing the vast potential of AI cloud computing. Meanwhile, we have seen strong growth in demand from our ecosystem. Revenue from Xiaomi and Kingsoft Group increased by 76% year-over-year. We are well on track to build cutting- edge cloud infrastructure and technology to support our ecosystem and expand into the broader AI industry.”

    Mr. Henry He, Chief Financial Officer of Kingsoft Cloud, added, “We are very pleased to highlight several significant achievements. First, we achieved profitability in non-GAAP operating profit for the first time since our inception in 2012, demonstrating our strong execution of our high-quality and sustainable development strategy in the past two years. Second, our revenue has been growing for three consecutive quarters year-over-year, and this quarter we achieved a high-speed growth rate of 30% in total revenue, reaching RMB2,232.1 million. Third, gross billing of our Al cloud business increased by around 500% year-over-year to RMB474 million, accounting for as high as 34% of our public cloud revenue. This marks a three-digit year-on-year growth or six consecutive quarters. Fourth, last December, our shareholders approved revenue from connected-party of Xiaomi and Kingsoft Group for next three years of RMB11.3 billion, around 10 times over the revenue of 2023, providing solid support for Company’s revenue and profit growth. We believe we are well on track to meet the ecosystem’s fast-growing demands and build a solid cloud infrastructure to support its AI development. Notably, in this quarter, we are thrilled to report that revenue from Xiaomi and Kingsoft Group increased by 76% year-over-year, validating the effectiveness of our ecosystem strategy.”

    Fourth Quarter 2024 Financial Results

    Total Revenues reached RMB2,232.1 million (US$305.8 million), increased by 29.6% year-over-year from RMB1,722.5 million in the same quarter of 2023 and increased by 18.4% quarter-over-quarter from RMB1,885.6 million in the third quarter of 2024. The year-over-year increase was mainly due to the expanded revenue from Xiaomi and Kingsoft Ecosystem and AI related customers, incremental demands and more projects delivered from enterprise cloud approaching year-end.

    • Revenues from public cloud services were RMB1,409.8 million (US$193.1 million), increased by 34.0% from RMB1,052.0 million in the same quarter of 2023 and increased by 19.9% from RMB1, 175.5 million last quarter. The year-over-year increase was mainly due to the growth of AI demands.

    ______________________
    1 This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.

    2 Non-GAAP EBITDA is defined as non-GAAP net loss excluding interest income, interest expense, income tax expense (benefit) and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

    • Revenues from enterprise cloud services were RMB822.3 million (US$112.7 million), representing an increase of 22.7% from RMB670.3 million in the same quarter of 2023 and an increase of 15.8% from RMB710.0 million last quarter. We keep focusing in selected verticals such as public services cloud, state-owned assets cloud, healthcare, financial services and private enterprise services, enhance our solutions with AI capabilities and take profitability and sustainability of the enterprise cloud projects as our priorities.
    • Other revenues were nil this quarter.

    Cost of revenues was RMB1,806.2 million (US$247.4 million), representing an increase of 22.9% from RMB1,469.3 million in the same quarter of 2023, which was in-line with our revenue expansion. IDC costs decreased by 2.6% year-over-year from RMB740.4 million to RMB721.5 million (US$98.8 million) this quarter. The decrease was in line with the scale down of our CDN services and our strict control over procurement costs. Depreciation and amortization costs increased from RMB146.9 million in the same quarter of 2023 to RMB343.1 million (US$47.0 million) this quarter. The increase was mainly due to the depreciation of newly acquired servers which were related to AI business. Solution development and services costs increased by 10.8% year-over-year from RMB502.9 million in the same quarter of 2023 to RMB557.0 million (US$76.3 million) this quarter. The increase was mainly due to the solution personnel expansion of Camelot. Fulfillment costs and other costs were RMB102.4 million (US$14.0 million) and RMB82.2 million (US$11.3 million) this quarter.

    Gross profit was RMB426.0 million (US$58.4 million), representing a significant increase of 68.3% from RMB253.1 million in the same quarter of 2023, demonstrating our improvements in revenue quality and structure, as well as strict cost control. Gross margin was 19. 1%, compared with 14.7% in the same period in 2023. Non–GAAP gross profit3 was RMB427.7 million (US$58.6 million), compared with RMB262.5 million in the same period in 2023. Non–GAAP gross margin3 was 19.2%, compared with 15.2% in the same period in 2023. The significant improvement of our gross profit and margin was mainly due to our strategic adjustment of revenue mix, expansion of AI revenues, optimized enterprise cloud project selection and efficient cost control measures.

    Total operating expenses were RMB469.5 million (US$64.3 million), decreased by 21.2% from RMB595.9 million in the same quarter last year and decreased by 67.6% from RBM1,447.1 million last quarter. Among which:

    Selling and marketing expenses were RMB115.8 million (US$15.9 million), decreased by 8.4% from RMB126.5 million in the same period in 2023 and decreased by 4.4% from RMB121.1 million last quarter, the decrease was due to the decrease of share-based compensation.

    General and administrative expenses were RMB179.5 million (US$24.6 million), decreased by 39.0% from RMB294.2 million in the same period in 2023 and slightly increased by 5.4% from RMB170.4 million last quarter. The year-over-year decrease was mainly due to the decrease of credit loss expense.

    Research and development expenses were RMB174.2 million (US$23.9 million), decreased by 0.6% from RMB175.2 million in the same period in 2023 and 26.2% from RMB235.9 million last quarter. The decrease was mainly due to the decrease of share-based compensation.

    Operating loss was RMB43.5 million (US$6.0 million), compared with operating loss of RMB342.7 million in the same quarter of 2023 and RMB1,143.8 million last quarter. The improvement was mainly due to the increase of gross profit and our strict expenses control. Non–GAAP operating profit (loss)4 was RMB24.4 million (US$3.3 million), compared with operating loss of RMB187.6 million in the same quarter last year and RMB140.2 million last quarter. Our non-GAAP operating profit (loss) turned breakeven for the first time and verified our high quality and sustainable development strategy.

    Net loss was RMB200.6 million (US$27.5 million), compared with net loss of RMB286.8 million in the same quarter of 2023 and RMB1,061.1 million last quarter. Non–GAAP net loss5 was RMB70.3 million (US$9.6 million), narrowed down compared with RMB250.4 million in the same quarter of 2023 and RMB236.7 million last quarter. The improvement was mainly due to the revenue quality increase, revenue mix adjustment, strict costs control and expenses control.
    ______________________
    3 Non-GAAP gross profit is defined as gross profit excluding share-based compensation allocated in the cost of revenues and we define Non-GAAP gross margin as Non-GAAP gross profit as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

    4 Non-GAAP operating loss is defined as operating loss excluding share-based compensation, impairment of long-lived assets and amortization of intangible assets and we define Non-GAAP operating loss margin as Non-GAAP operating loss as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

    5 Non-GAAP net loss is defined as net loss excluding share-based compensation, impairment of long-lived assets and foreign exchange (gain) loss, and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

    Non–GAAP EBITDA6 was RMB359.7 million (US$49.3 million), compared with RMB-27.7 million in the same quarter of 2023 and RMB185.4 million last quarter. Non–GAAP EBITDA margin was 16. 1%, compared with -1.6% in the same quarter of 2023 and 9.8% last quarter. The increase was mainly due to the expansion in gross profit and our strict control over costs and expenses.

    Basic and diluted net loss per share was RMB0.05 (US$0.01), compared with RMB0.08 in the same quarter of 2023 and RMB0.29 last quarter.

    Cash and cash equivalents were RMB2,648.8 million (US$362.9 million) as of December 31, 2024, compared with RMB1,617.9 million as of September 30, 2024. The increase was mainly due to the increased cash receipts from operating activities and the increase in bank loan drawdowns.

    Fiscal Year 2024 Financial Results

    Total Revenues reached RMB7,785.2 million (US$1,066.6 million), representing an increase of 10.5% from RMB7,047.5 million in 2023. The increase was due to the strong demands from AI business and enterprise cloud projects increase, while partially offset by our proactive scale-down of CDN services within public cloud services.

    • Revenues from public cloud services were RMB5,007.3 million (US$686.0 million), representing an increase of 14.3% from RMB4,381.7 million in 2023.
    • Revenues from enterprise cloud services were RMB2,777.8 million (US$380.6 million), representing an increase of 4.3% from RMB2,664.0 million in 2023.
    • Other revenues were RMB0.1 million (US$0.02 million).

    ______________________
    6     Non-GAAP EBITDA is defined as Non-GAAP net loss excluding interest income, interest expense, income tax expense (benefit) and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. See “Use of Non-GAAP Financial Measures” set forth at the end of this press release.

    Cost of revenues was RMB6,444.3 million (US$882.9 million), representing a slight increase of 4.0% from RMB6, 197.3 million in 2023. Among which:

    IDC costs decreased by 9.9% to RMB2,892.1 million (US$396.2 million) from RMB3,211.2 million in 2023. The decrease was in line with our cost control measures adjustment of CDN services. Depreciation and amortization costs were RMB1,090.1 million (US$149.3 million), compared with RMB774.0 million in 2023, mainly due to the depreciation of new acquired servers related to AI business. Fulfillment costs were RMB235.7 million (US$32.3 million), representing an increase of 2.7% from RMB229.5 million in 2023. The increase was in line with enterprise cloud projects increase. Solution development and services costs were RMB1,993.1 million (US$273.1 million) in 2024, compared with RMB1,804.8 million in 2023. The increase was mainly due to the revenue expansion of Camelot business.

    Gross profit increased by 57.7% to RMB1,340.9 million (US$183.7 million) in 2024, from RMB850.2 million in 2023. Gross margin increased to 17.2%, from 12. 1% in 2023. Non–GAAP gross profit increased to RMB1,357.8 million (US$186.0 million) in 2024, from RMB859.9 million in 2023. Non–GAAP gross margin increased to 17.4% in 2024 from 12.2% in 2023. Such increases were primarily because of the optimization of revenue mix and our effective cost controls.

    Selling and marketing expenses were RMB479.4 million (US$65.7 million), compared with RMB460.2 million in 2023. The increase was mainly due to the increase of share-based compensation.

    General and administrative expenses were RMB834.9 million (US$114.4 million), compared with RMB1,060.0 million in 2023. The decrease was mainly due to the decrease of credit loss expense.

    Research and development expenses were RMB846.0 million (US$115.9 million), compared with RMB784.8 million in 2023. The increase was mainly due to the rise in personnel-related expenses.

    Impairment of long–lived assets was RMB919.7 million (US$126.0 million), mainly attributable to impairment of long-lived assets dedicated to assets of low-margin services.

    Operating loss was RMB1,739.0 million (US$238.2 million), compared with RMB2, 108.6 million in 2023. Non–GAAP operating loss was RMB431.3 million (US$59.1 million), significantly narrowed compared with RMB1,092.8 million in 2023. Non–GAAP operating loss margin was 5.5%, significantly improved from 15.5% in 2023.

    Net loss was RMB1,979.0 million (US$271.1 million), significantly narrowed from net loss of RMB2, 183.6 million in 2023.

    Non–GAAP net loss was RMB825.3 million (US$113.1 million), compared with Non-GAAP net loss of RMB1,291.1 million in 2023.

    Non–GAAP EBITDA was RMB638.9 million (US$87.5 million), compared with RMB-265.1 million in 2023. Non–GAAP EBITDA margin was 8.2%, compared with -3.8% in 2023.

    Basic and diluted net loss per share was RMB0.54 (US$0.07), compared with RMB0.61 in 2023.

    Outstanding ordinary shares were 3,687,690,772 as of December 31, 2024, equivalent to about 245,846,051 ADSs.

    Conference Call Information

    Kingsoft Cloud’s management will host an earnings conference call on Wednesday, March 19, 2025 at 8:15 am, U.S. Eastern Time (8:15 pm, Beijing/Hong Kong Time on the same day).

    Participants can register for the conference call by navigating to https://register-conf.media-server.com/register/BIc315136cafe94825b98dca6b37795790. Once preregistration has been completed, participants will receive dial-in numbers, direct event passcode, and a unique access PIN.

    To join the conference, simply dial the number in the calendar invite you receive after preregistering, enter the passcode followed by your PIN, and you will join the conference instantly.

    Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.ksyun.com.

    Use of Non–GAAP Financial Measures

    The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In evaluating our business, we consider and use certain non-GAAP measures, Non-GAAP gross profit, Non-GAAP gross margin, Non-GAAP operating loss, Non-GAAP operating loss margin, Non-GAAP EBITDA, Non-GAAP EBITDA margin, Non-GAAP net loss and Non-GAAP net loss margin, as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define Non- GAAP gross profit as gross profit excluding share-based compensation allocated in the cost of revenues, and we define Non-GAAP gross margin as Non-
    GAAP gross profit as a percentage of revenues. We define Non-GAAP operating loss as operating loss excluding share-based compensation, impairment of long-lived assets and amortization of intangible assets, and we define Non-GAAP operating loss margin as Non-GAAP operating loss as a percentage of revenues. We define Non-GAAP net loss as net loss excluding share-based compensation, foreign exchange (gain) loss and impairment of long-lived assets, and we define Non-GAAP net loss margin as Non-GAAP net loss as a percentage of revenues. We define Non-GAAP EBITDA as Non-GAAP net loss excluding interest income, interest expense, income tax expense (benefit) and depreciation and amortization, and we define Non-GAAP EBITDA margin as Non-GAAP EBITDA as a percentage of revenues. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of these non-GAAP measures facilitates investors’ assessment of our operating performance.

    These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

    We compensate for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

    Exchange Rate Information

    This press release contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from RMB to U.S. dollars, in this press release, were made at a rate ofRMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024 as certified for customs purposes by the Federal Reserve Bank of New York.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the Business Outlook, and quotations from management in this announcement, as well as Kingsoft Cloud’s strategic and operational plans, contain forward-looking statements. Kingsoft Cloud may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Kingsoft Cloud’s goals and strategies; Kingsoft Cloud’s future business development, results of operations and financial condition; relevant government policies and regulations relating to Kingsoft Cloud’s business and industry; the expected growth of the cloud service market in China; the expectation regarding the rate at which to gain customers, especially Premium Customers; Kingsoft Cloud’s ability to monetize the customer base; fluctuations in general economic and business conditions in China; and the economy in China and elsewhere generally; China’s political or social conditions and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Kingsoft Cloud’s filings with the SEC. All information provided in this press release and in the attachments is as ofthe date of this press release, and Kingsoft Cloud does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    About Kingsoft Cloud Holdings Limited

    Kingsoft Cloud Holdings Limited (NASDAQ: KC and HKEX:3896) is a leading cloud service provider in China. With extensive cloud infrastructure, cutting-edge cloud-native products based on vigorous cloud technology research and development capabilities, well-architected industry-specific solutions and end-to-end fulfillment and deployment, Kingsoft Cloud offers comprehensive, reliable and trusted cloud service to customers in strategically selected verticals.

    For more information, please visit: http://ir.ksyun.com.

    For investor and media inquiries, please contact:
    Kingsoft Cloud Holdings Limited
    Nicole Shan
    Tel: +86 (10) 6292-7777 Ext. 6300
    Email: ksc–ir@kingsoft.com

    KINGSOFT CLOUD HOLDINGS LIMITED
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (All amounts in thousands)
      Dec 31,
    2023    		 Dec 31,
    2024    		 Dec 31,
    2024
      RMB RMB US$
    ASSETS      
    Current assets:      
    Cash and cash equivalents 2,255,287   2,648,764   362,879  
    Restricted cash 234,194   81,337   11,143  
    Accounts receivable, net 1,529,915   1,468,663   201,206  
    Short-term investments —   90,422   12,388  
    Prepayments and other assets 1,812,692   2,233,074   305,930  
    Amounts due from related parties 266,036   318,526   43,638  
    Total current assets 6,098,124   6,840,786   937,184  
    Non-current assets:      
    Property and equipment, net 2,186,145   4,630,052   634,315  
    Intangible assets, net 834,478   694,880   95,198  
    Goodwill 4,605,724   4,605,724   630,982  
    Prepayments and other assets 870,781   449,983   61,647  
    Equity investments 259,930   234,182   32,083  
    Amounts due from related parties 56,264   —   —  
    Operating lease right-of-use assets 158,832   137,047   18,775  
    Total non-current assets 8,972,154   10,751,868   1,473,000  
    Total assets 15,070,278   17,592,654   2,410,184  
           
    LIABILITIES, NON-CONTROLLING INTERESTS AND SHAREHOLDERS’ EQUITY      
    Current liabilities:      
    Accounts payable 1,805,083   1,877,004   257,149  
    Accrued expenses and other current liabilities 2,838,085   3,341,990   457,851  
    Short-term borrowings 1,110,896   2,225,765   304,928  
    Income tax payable 63,961   69,219   9,483  
    Amounts due to related parties 931,906   1,584,199   217,034  
    Current operating lease liabilities 78,659   61,258   8,392  
    Total current liabilities 6,828,590   9,159,435   1,254,837  
    Non-current liabilities:      
    Long-term borrowings 100,000   1,660,584   227,499  
    Amounts due to related parties 40,069   309,612   42,417  
    Deferred tax liabilities 142,565   101,677   13,930  
    Other liabilities 634,803   790,271   108,267  
    Non-current operating lease liabilities 78,347   65,755   9,008  
    Total non-current liabilities 995,784   2,927,899   401,121  
    Total liabilities 7,824,374   12,087,334   1,655,958  
    Shareholders’ equity:      
    Ordinary shares 25,443   25,689   3,519  
    Treasury stock (208,385 ) (105,478 ) (14,450 )
    Additional paid-in capital 18,811,028   18,940,885   2,594,891  
    Statutory reserves funds 21,765   32,001   4,384  
    Accumulated deficit (12,315,041 ) (14,291,957 ) (1,957,990 )
    Accumulated other comprehensive income 555,342   566,900   77,665  
    Total Kingsoft Cloud Holdings Limited shareholders’ equity 6,890,152   5,168,040   708,019  
    Non-controlling interests 355,752   337,280   46,207  
    Total equity 7,245,904   5,505,320   754,226  
    Total liabilities, non-controlling interests and shareholders’ equity 15,070,278   17,592,654   2,410,184  
           
    KINGSOFT CLOUD HOLDINGS LIMITED
    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
    (All amounts in thousands, except for share and per share data)
      Three Months Ended Twelve Months Ended
      Dec 31,
    2023    		 Mar 31,
    2024    		 Jun 30,
    2024    		 Sep 30,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Dec 31,
    2024    		 Dec 31,
    2024
      RMB RMB RMB RMB RMB US$ RMB RMB US$
    Revenues:                  
    Public cloud services 1,051,966   1,187,370   1,234,542   1,175,535   1,409,804   193,142   4,381,741   5,007,251   685,991  
    Enterprise cloud services 670,331   588,162   657,238   710,039   822,338   112,660   2,663,993   2,777,777   380,554  
    Others 153   152   –   –   –   –   1,727   152   21  
    Total revenues 1,722,450   1,775,684   1,891,780   1,885,574   2,232,142   305,802   7,047,461   7,785,180   1,066,566  
    Cost of revenues (1,469,312 ) (1,482,431 ) (1,573,433 ) (1,582,220 ) (1,806,170 ) (247,444 ) (6,197,292 ) (6,444,254 ) (882,859 )
    Gross profit 253,138   293,253   318,347   303,354   425,972   58,358   850,169   1,340,926   183,707  
    Operating expenses:                  
    Selling and marketing expenses (126,477 ) (116,752 ) (125,708 ) (121,117 ) (115,792 ) (15,863 ) (460,221 ) (479,369 ) (65,673 )
    General and administrative expenses (294,240 ) (218,695 ) (266,249 ) (170,374 ) (179,536 ) (24,596 ) (1,060,022 ) (834,854 ) (114,375 )
    Research and development expenses (175,155 ) (231,963 ) (203,959 ) (235,912 ) (174,155 ) (23,859 ) (784,807 ) (845,989 ) (115,900 )
    Impairment of long-lived assets –   –   –   (919,724 ) –   –   (653,670 ) (919,724 ) (126,002 )
    Total operating expenses (595,872 ) (567,410 ) (595,916 ) (1,447,127 ) (469,483 ) (64,318 ) (2,958,720 ) (3,079,936 ) (421,950 )
    Operating loss (342,734 ) (274,157 ) (277,569 ) (1,143,773 ) (43,511 ) (5,960 ) (2,108,551 ) (1,739,010 ) (238,243 )
    Interest income 12,442   8,370   9,945   4,517   4,176   572   78,410   27,008   3,700  
    Interest expense (46,992 ) (51,066 ) (59,414 ) (57,404 ) (61,821 ) (8,469 ) (146,026 ) (229,705 ) (31,469 )
    Foreign exchange gain (loss) 74,011   (42,737 ) (6,999 ) 135,777   (105,572 ) (14,463 ) (57,211 ) (19,531 ) (2,676 )
    Other (loss) gain, net (16,741 ) (8,207 ) (7,829 ) 6,046   (2,956 ) (405 ) (32,673 ) (12,946 ) (1,774 )
    Other income (expense), net 33,776   (11,190 ) (4,961 ) 4,433   5,336   731   100,363   (6,382 ) (874 )
    Loss before income taxes (286,238 ) (378,987 ) (346,827 ) (1,050,404 ) (204,348 ) (27,994 ) (2,165,688 ) (1,980,566 ) (271,336 )
    Income tax (expense) benefit (598 ) 15,371   (6,891 ) (10,662 ) 3,706   508   (17,959 ) 1,524   209  
    Net loss (286,836 ) (363,616 ) (353,718 ) (1,061,066 ) (200,642 ) (27,486 ) (2,183,647 ) (1,979,042 ) (271,127 )
    Less: net loss attributable to non-controlling interests (2,688 ) (4,206 ) (542 ) (3,931 ) (3,683 ) (505 ) (7,307 ) (12,362 ) (1,694 )
    Net loss attributable to Kingsoft Cloud Holdings Limited (284,148 ) (359,410 ) (353,176 ) (1,057,135 ) (196,959 ) (26,981 ) (2,176,340 ) (1,966,680 ) (269,433 )
                       
    Net loss per share:                  
    Basic and diluted (0.08 ) (0.10 ) (0.10 ) (0.29 ) (0.05 ) (0.01 ) (0.61 ) (0.54 ) (0.07 )
    Shares used in the net loss per share computation:                  
    Basic and diluted 3,570,915,939   3,614,662,846   3,649,307,331   3,655,882,906   3,710,632,202   3,710,632,202   3,558,354,940   3,658,088,876   3,658,088,876  
    Other comprehensive (loss) income, net of tax of nil:                  
    Foreign currency translation adjustments (67,636 ) 20,704   (530 ) (112,296 ) 103,658   14,201   102,241   11,536   1,580  
    Comprehensive loss (354,472 ) (342,912 ) (354,248 ) (1,173,362 ) (96,984 ) (13,285 ) (2,081,406 ) (1,967,506 ) (269,547 )
    Less: Comprehensive loss attributable to non-controlling interests (2,662 ) (4,247 ) (570 ) (3,900 ) (3,667 ) (502 ) (7,334 ) (12,384 ) (1,697 )
    Comprehensive loss attributable to Kingsoft Cloud Holdings Limited shareholders (351,810 ) (338,665 ) (353,678 ) (1,169,462 ) (93,317 ) (12,783 ) (2,074,072 ) (1,955,122 ) (267,850 )
                       
    KINGSOFT CLOUD HOLDINGS LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (All amounts in thousands, except for percentage)
      Three Months Ended Twelve Months Ended
      Dec 31,
    2023    		 Mar 31,
    2024    		 Jun 30,
    2024    		 Sep 30,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Dec 31,
    2024    		 Dec 31,
    2024
      RMB RMB RMB RMB RMB US$ RMB RMB US$
    Gross profit 253,138 293,253 318,347 303,354 425,972 58,358 850,169 1,340,926 183,707
    Adjustments:                  
    – Share-based compensation expenses (allocated in cost of revenues) 9,330 5,814 5,076 4,252 1,726 236 9,757 16,868 2,311
    Adjusted gross profit (Non-GAAP Financial Measure) 262,468 299,067 323,423 307,606 427,698 58,594 859,926 1,357,794 186,018
                       
    KINGSOFT CLOUD HOLDINGS LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (All amounts in thousands, except for percentage)
      Three Months Ended Twelve Months Ended
      Dec 31,
    2023    		 Mar 31,
    2024    		 Jun 30,
    2024    		 Sep 30,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Dec 31,
    2024
    Gross margin 14.7 % 16.5 % 16.8 % 16.1 % 19.1 % 12.1 % 17.2 %
    Adjusted gross margin (Non-GAAP Financial Measure) 15.2 % 16.8 % 17.1 % 16.3 % 19.2 % 12.2 % 17.4 %
                   
    KINGSOFT CLOUD HOLDINGS LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (All amounts in thousands, except for percentage)
      Three Months Ended Twelve Months Ended
      Dec 31,
    2023    		 Mar 31,
    2024    		 Jun 30,
    2024    		 Sep 30,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Dec 31,
    2024    		 Dec 31,
    2024
      RMB RMB RMB RMB RMB US$ RMB RMB US$
    Net Loss (286,836 ) (363,616 ) (353,718 ) (1,061,066 ) (200,642 ) (27,486 ) (2,183,647 ) (1,979,042 ) (271,127 )
    Adjustments:                  
    – Share-based compensation expenses 110,437   103,595   45,649   40,423   24,774   3,394   181,645   214,441   29,378  
    – Foreign exchange (gain) loss (74,011 ) 42,737   6,999   (135,777 ) 105,572   14,463   57,211   19,531   2,676  
    – Impairment of long-lived assets –   –   –   919,724   –   –   653,670   919,724   126,002  
    Adjusted net loss (Non-GAAP Financial Measure) (250,410 ) (217,284 ) (301,070 ) (236,696 ) (70,296 ) (9,629 ) (1,291,121 ) (825,346 ) (113,071 )
    Adjustments:                  
    – Interest income (12,442 ) (8,370 ) (9,945 ) (4,517 ) (4,176 ) (572 ) (78,410 ) (27,008 ) (3,700 )
    – Interest expense 46,992   51,066   59,414   57,404   61,821   8,469   146,026   229,705   31,469  
    – Income tax expense (benefit) 598   (15,371 ) 6,891   10,662   (3,706 ) (508 ) 17,959   (1,524 ) (209 )
    – Depreciation and amortization 187,542   223,146   305,304   358,540   376,100   51,525   940,482   1,263,090   173,043  
    Adjusted EBITDA (Non-GAAP Financial Measure) (27,720 ) 33,187   60,594   185,393   359,743   49,285   (265,064 ) 638,917   87,532  
    – (Gain) loss on disposal of property and equipment –   (23,821 ) –   (10,667 ) (10,137 ) (1,389 ) 22,996   (44,625 ) (6,114 )
    Excluding loss or gain on disposal of property and equipment, normalized Adjusted EBITDA (27,720 ) 9,366   60,594   174,726   349,606   47,896   (242,068 ) 594,292   81,418  
                       
    KINGSOFT CLOUD HOLDINGS LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (All amounts in thousands, except for percentage)
      Three Months Ended Twelve Months Ended
      Dec 31,
    2023    		 Mar 31,
    2024    		 Jun 30,
    2024    		 Sep 30,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Dec 31,
    2024    		 Dec 31,
    2024
      RMB RMB RMB RMB RMB US$ RMB RMB US$
    Operating loss (342,734 ) (274,157 ) (277,569 ) (1,143,773 ) (43,511 ) (5,960 ) (2,108,551 ) (1,739,010 ) (238,243 )
    Adjustments:                  
    – Share-based compensation expenses 110,437   103,595   45,649   40,423   24,774   3,394   181,645   214,441   29,378  
    – Impairment of long-lived assets –   –   –   919,724   –   –   653,670   919,724   126,002  
    – Amortization of intangible assets 44,656   43,517   43,415   43,460   43,104   5,905   180,459   173,496   23,769  
    Adjusted operating (loss) profit (Non-GAAP Financial Measure) (187,641 ) (127,045 ) (188,505 ) (140,166 ) 24,367   3,339   (1,092,777 ) (431,349 ) (59,094 )
    – (Gain) loss on disposal of property and equipment –   (23,821 ) –   (10,667 ) (10,137 ) (1,389 ) 22,996   (44,625 ) (6,114 )
    Excluding loss or gain on disposal of property and equipment, normalized Adjusted operating (loss) profit (187,641 ) (150,866 ) (188,505 ) (150,833 ) 14,230   1,950   (1,069,781 ) (475,974 ) (65,208 )
                       
    KINGSOFT CLOUD HOLDINGS LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (All amounts in thousands, except for percentage)
      Three Months Ended Twelve Months Ended
      Dec 31,
    2023    		 Mar 31,
    2024    		 Jun 30,
    2024    		 Sep 30,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Dec 31,
    2024
    Net loss margin -16.7 % -20.5 % -18.7 % -56.3 % -9.0 % -31.0 % -25.4 %
    Adjusted net loss margin (Non-GAAP Financial Measure) -14.5 % -12.2 % -15.9 % -12.6 % -3.1 % -18.3 % -10.6 %
    Adjusted EBITDA margin (Non-GAAP Financial Measure) -1.6 % 1.9 % 3.2 % 9.8 % 16.1 % -3.8 % 8.2 %
    Normalized Adjusted EBITDA margin -1.6 % 0.5 % 3.2 % 9.3 % 15.7 % -3.4 % 7.6 %
    Adjusted operating (loss) profit margin (Non-GAAP Financial Measure) -10.9 % -7.2 % -10.0 % -7.4 % 1.1 % -15.5 % -5.5 %
    Normalized Adjusted operating (loss) profit margin -10.9 % -8.5 % -10.0 % -8.0 % 0.6 % -15.2 % -6.1 %
                   
    KINGSOFT CLOUD HOLDINGS LIMITED
    UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
    (All amounts in thousands)
      Three Months Ended Twelve Months Ended
      Dec 31,
    2023    		 Dec 31,
    2024    		 Dec 31,
    2024    		 Dec 31,
    2023    		 Dec 31,
    2024    		 Dec 31,
    2024
      RMB RMB US$ RMB RMB US$
    Net cash generated from (used in) operating activities 16,787   570,222   78,120   (169,070 ) 628,419   86,093  
    Net cash used in investing activities (1,414,761 ) (1,337,978 ) (183,302 ) (673,186 ) (3,620,445 ) (495,999 )
    Net cash generated from (used in) financing activities 1,154,815   1,802,762   246,977   (227,852 ) 3,255,418   445,990  
    Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,013   (15,294 ) (2,095 ) 25,863   (22,772 ) (3,119 )
    Net (decrease) increase in cash, cash equivalents and restricted cash (242,146 ) 1,019,712   139,700   (1,044,245 ) 240,620   32,965  
    Cash, cash equivalents and restricted cash at beginning of period 2,731,627   1,710,389   234,322   3,533,726   2,489,481   341,057  
    Cash, cash equivalents and restricted cash at end of period 2,489,481   2,730,101   374,022   2,489,481   2,730,101   374,022  
                 

    The MIL Network –

  • MIL-OSI: Expansion in Nickel Mining Market Thriving from Heightened Demand Around the Globe

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., March 19, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – According to a report from Grand View Research, the nickel mining industry worldwide is expected to reach a projected revenue of US$83.813 Billion by 2030. A compound annual growth rate of 6.6% is expected of the worldwide nickel mining industry from 2023 to 2030.Growth in end-use industries such as construction, consumer durables, and machinery & equipment are propelling the growth of the stainless steel industry. Nickel is one of the key raw materials of stainless steel. Hence, development in the stainless steel industry is contributing to the growth of the market. According to the Nickel Institute, over two-thirds of the world’s nickel is utilized in the production of stainless steel. It acts as an alloying agent, enhancing essential properties such as formability, ductility, and weldability while also increasing corrosion resistance for specific applications. Another Grand View Research report said: “The nickel mining industry is highly competitive and to gain an edge, major players are acquiring their competitors. The batteries segment is anticipated to register the fastest CAGR of 7.2% in terms of revenue, over the forecast period (2030). Nickel batteries offer a cost-effective solution for achieving higher energy density and storage capabilities.” Active Companies in the market today include: First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN), Ballard Power Systems (NASDAQ: BLDP), First Hydrogen Corp. (OTCPK: FHYDF) (TSX-V: FHYD), Bloom Energy Corporation (NYSE: BE), FuelCell Energy, Inc. (NASDAQ: FCEL).

    Grand View Research continued: “Based on region, Asia Pacific held the largest revenue share of over 57.0% in 2022. The growth in various industries, such as battery manufacturing, automotive & defense, and petrochemicals, is increasing the demand for nickel, which is positively influencing its mining activity. The Russia-Ukraine war has benefitted the Philippines’ nickel industry, as Russia’s output has been declining in the past few years coupled with the aversion it is receiving in trade. Europe is anticipated to register a CAGR of 7.8% in terms of revenue over the forecast period (2030). The EU has recognized the importance of nickel in the energy transition and has added it to the list of critical minerals. To ensure a diversified supply chain, the EU has set benchmarks for the extraction of at least 10% of the annual consumption of nickel within the boundary of Europe. This move is expected to have a positive impact on the mining activity in the region. North America is anticipated to register the fastest CAGR of 8.1% over the forecast period (2030). The increasing demand for nickel-based products in aerospace and defense industries has raised its significance as a critical mineral. In addition, the growing emphasis on accomplishing a domestic supply chain for the EV battery segment is anticipated to boost production in the region.”

    First Atlantic Nickel Corp. (OTCQB: FANCF) (TSX-V: FAN) AND COLORADO SCHOOL OF MINES LAUNCH RESEARCH PARTNERSHIP TO EXPLORE GEOLOGIC HYDROGEN POTENTIAL IN NEWFOUNDLAND OPHIOLITES – First Atlantic Nickel Corp. (FSE: P21) (“First Atlantic” or the “Company”) is pleased to announce a strategic research partnership with Colorado School of Mines to explore geologic hydrogen as an energy source. This collaboration will focus on two significant ophiolite complexes in Newfoundland, Canada: the St. Anthony Ophiolite Complex (Atlantis Project, 103 km²) and the Pipestone Ophiolite Complex (Atlantic Nickel Project, 71 km²). Both projects are 100% owned by First Atlantic and encompass extensive ultramafic rock formations, characterized by awaruite-bearing serpentinized peridotites, which are key indicators of geologic hydrogen.

    First Atlantic Nickel is primarily focused on exploring awaruite nickel-iron alloy mineralization. Additionally, it is partnering with Colorado School of Mines to conduct secondary research on geological hydrogen produced during serpentinization. This collaborative research will leverage data collected by First Atlantic during its ongoing exploration for awaruite nickel deposits. Notably, awaruite serves as an indicator mineral of geologic hydrogen within serpentinized peridotites found in ophiolites. Colorado School of Mines will carry out this hydrogen research component, enhancing the overall exploration program while leveraging First Atlantic’s extensive geological assets and expertise.

    Geologic Hydrogen: Ophiolites and Peridotite

    Ophiolites—sections of oceanic crust and upper mantle thrust onto continental crust—are globally recognized as prime sources of geologic hydrogen, often referred to as “white hydrogen” or “gold hydrogen.” These formations are dominated by ultramafic rocks, notably peridotite, which consists primarily of olivine and pyroxene minerals rich in nickel, chromium, magnesium, and iron. When peridotite interacts with water, it triggers serpentinization—a hydrothermal reaction in which iron oxidizes and water is reduced, releasing molecular hydrogen gas (H₂). This natural process can be represented by the equation:

    3FeO (in olivine) + H₂O → Fe₃O₄ (magnetite) + H₂ – During serpentinization, awaruite (Ni₃Fe) forms as a secondary mineral when liberated nickel (Ni2+) and iron (Fe2+) from the olivine, pyroxene, and chromite minerals react with the abundant hydrogen (H2) present. This natural process can be represented by the equation:

    3(Ni²⁺) + (Fe²⁺) + 4(H₂) → (Ni₃Fe) + 8(H⁺) – The formation of awaruite could not happen without the presence of hydrogen. This process occurs readily in ophiolitic peridotites at depth, where water saturated rocks in oxygen-poor, reducing conditions produce this exothermic reaction, generating heat that sustains further reactions. According to the Geological Survey of Finland, “In Europe and in regions outside the crystal shield, only ophiolites are often referred to as a source of geological hydrogen.” Within these ophiolite settings, serpentinized peridotites are the most promising targets, with peridotites producing significantly more hydrogen than other rocks, up to 4 kg per cubic meter. Ophiolites represent large potential sources of geologic hydrogen, with some of the most significant global geologic hydrogen discoveries occurring in ophiolites.

    “Geologic hydrogen systems are a combination of mineral systems and natural gas systems. In our group, we have the unique combination of expertise from both the mining industry and oil and gas industry to advance geologic hydrogen exploration and stimulated hydrogen monitoring,” said Dr. Yaoguo Li from Colorado School of Mines. CONTINUED… Read this and more news for First Atlantic Nickel at: https://www.fanickel.com/archive

    In other market news of interest:

    Ballard Power Systems (NASDAQ: BLDP) recently announced a multi-year supply agreement from Manufacturing Commercial Vehicles (‘MCV’, www.mcv-eg.com), a leading commercial vehicle manufacturer based in Egypt, for fuel cell engines totaling approximately 5 MW.

    The supply agreement for 50 FCmove®-HD+ engines, and initial order of 35 units, represents the continued growth of the relationship with MCV which started in 2022 with fuel cell engine integration support and the first fuel cell engine order placed in 2023. Deliveries of the 50 engines are expected between 2025 and 2026 and will initially support projects in the EU.

    First Hydrogen Corp. (TSXV: FHYD) (OTCPK: FHYDF) recently announced the launch of its subsidiary, First Nuclear Corp., an initiative dedicated to advancing clean energy through the innovative use of Small Modular Reactors (SMRs). First Nuclear Corp. (“First Nuclear”) aims to revolutionize green hydrogen production, supporting global decarbonization efforts and paving the way for a sustainable, zero-emission future.

    Harnessing the Power of SMRs for Green Hydrogen – First Nuclear seeks to integrate advanced nuclear technology with green hydrogen production. SMRs, known for their compact design, scalability, and ability to provide a continuous, weather-independent power supply, are the cornerstone of this initiative. By leveraging SMRs, First Nuclear ensures a stable, cost-effective, and efficient process for producing green hydrogen, addressing the growing demand for clean energy solutions worldwide. IDTechEx anticipates the installation rate of SMRs to grow significantly addressing the climate crisis. They project the global market for SMRs to reach US$72.4 billion by 2033 and US$295 billion by 2043, reflecting a compound annual growth rate (CAGR) of 30%.

    Bloom Energy Corporation (NYSE: BE), a global leader in power solutions, announced recently an expansion of its longstanding relationship with Equinix, the world’s digital infrastructure company®. The collaboration now exceeds 100MW of electricity capacity to support Equinix’s International Business Exchange™ (IBX®) data centers across the United States.

    With approximately 75MW already operational and another 30MW under construction, this latest expansion marks a significant milestone in the companies’ decade-long collaboration. What began as a pilot program in 2015 with just 1MW of fuel cells at a single IBX data center in Silicon Valley has scaled one hundredfold, supporting the critical digital infrastructure needed to meet increasing energy needs of AI-driven computing.

    FuelCell Energy, Inc. (NASDAQ: FCEL) and Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), a wholly owned subsidiary of Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), have announced the signing of a Joint Development Agreement (JDA) to co-develop large-scale hydrogen production systems and technologies across Asia, New Zealand, and Australia.

    Building on a memorandum of understanding signed in February 2023, the JDA represents a pivotal step for the two companies, driven by a shared vision to make clean hydrogen production easily accessible and viable. The collaboration underscores FuelCell Energy and MHB’s commitment to advancing green energy solutions and supporting global decarbonization and energy transition goals.

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated thirty four hundred dollars for news coverage of the current press releases issued by First Atlantic Nickel Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    The MIL Network –