NewzIntel.com

Category: Asia

  • MIL-OSI Europe: Missions – Mission to Kyrgyzstan, 25-27 February 2025 – 25-02-2025 – Subcommittee on Human Rights

    Source: European Parliament

    A five-member strong delegation visited Kyrgyzstan from 25 to 27 February 2025 with the aim at conducting a constructive dialogue with the Kyrgyz authorities and a series of international and local stakeholders ahead of the consent procedure of the EU-Kyrgyzstan European Enhanced Partnership and Cooperation Agreement, as the latter defines the respect for human rights, fundamental values, the rule of law and democratic standards as an essential element of this agreement.

    The DROI mission visited the country in a politically important year for Kyrgyzstan and the relations between the EU and Central Asian countries, given that the 1st EU-Central Asia Summit of Heads of State and government will take place in Samarkand on 4-5 April 2025.

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Strengthening age verification through app stores and operating system providers – E-001010/2025

    Source: European Parliament

    Question for written answer  E-001010/2025
    to the Commission
    Rule 144
    Miriam Lexmann (PPE)

    The Digital Services Act (DSA) sets out clear risk-based obligations to protect minors online. However, there is currently no clarity on when and where age verification (AV) should be used. App stores and operating systems are uniquely positioned to provide a unified, privacy-preserving, secure and efficient solution by verifying users’ ages at device or app store level and sharing an assured age signal with third-party apps. Such a system would prevent repetitive age checks, restrict underage users from accessing inappropriate content and better align with the requirements of the DSA and the Digital Markets Act.

    In this context:

    • 1.Has the Commission thought about supporting app store or device level AV solutions, such as those that exist in other jurisdictions such as Singapore and the US states of South Dakota and Utah?
    • 2.Will the Commission acknowledge in the upcoming guidelines on Article 28 of the DSA that app stores, as gateways to multiple services, pose a higher level of risk compared to the potential risks posed by individual apps, and that AV at this level might be necessary to mitigate that risk?
    • 3.Will the Commission acknowledge in the upcoming guidelines on Article 28 of the DSA that app stores, as very large online platforms and gatekeepers, have a special responsibility in the value chain to protect minors online?

    Submitted: 7.3.2025

    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Written question – Products from Chinese-flagged tuna vessels caught with North Korean labour and authorised for export to the European Union – E-000935/2025

    Source: European Parliament

    Question for written answer  E-000935/2025/rev.1
    to the Commission
    Rule 144
    César Luena (S&D)

    The North Korean regime exports labour, often forced and unpaid, from a large part of its population to prop up the country’s economy and generate income that supposedly helps finance its nuclear programme. A key destination for this labour is China.

    The use of North Korean labour outside the country is prohibited by the United Nations Security Council. The European Union has a legal framework in place to prevent goods produced by North Koreans from entering its supply chains. However, recent investigations[1] have identified 12 Chinese-flagged tuna vessels using North Korean labour on board. Four of these vessels are authorised to export to the EU. The findings also show that North Korean crew have suffered serious abuse, with frequent transfers between vessels and stints at sea lasting for up to a decade.

    What is the Commission doing to investigate, trace and monitor products from Chinese-flagged tuna vessels caught with North Korean labour and authorised for export to the European Union?

    Submitted: 5.3.2025

    • [1] Report: ‘Trapped At Sea’, published by the Environmental Justice Foundation, https://ejfoundation.org/reports/trapped-at-sea-exposing-north-korean-forced-labour-on-chinas-indian-ocean-tuna-fleet.
    Last updated: 18 March 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Team Europe provides nearly €60 million for digital connectivity in rural Central Asia

    Source: European Investment Bank

    EIB

    • A €34.4 million EU grant and a €25.45 million EIB Global loan will support access to broadband services through satellite connectivity in approximately 1 600 villages in Central Asia.
    • The financial package will enable the deployment of satellite terminal antennas connected to SES’ medium earth orbit satellite network.
    • This Team Europe initiative aims to empower approximately three million people in remote areas by providing fast and reliable internet access.

    EIB Global – the European Investment Bank’s global arm – and the European Commission have signed a financial package worth almost €60 million with SES, a Europe-based provider of satellite-enabled content and connectivity solutions.This initiative aims to deliver satellite connectivity to remote rural areas in Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan.

    Nearly half of the population in Central Asia does not have access to the internet. The project aims to reduce this figure by bringing broadband internet services to approximately 1 600 underserved villages across rural areas in the region. These communities currently have no access to broadband services, leaving millions without connection to the digital world. Through satellite technology, high-speed internet can be deployed in these remote areas, transforming the lives of an estimated three million people. This initiative will help to bridge the digital gap and also support Central Asia’s broader transition to a digital economy.

    “Beyond simply connecting people, connectivity infrastructures are pathways to education, healthcare and economic opportunities. This initiative is helping to address the digital divide and promoting global connectivity, which is a priority for EIB Global. This is an excellent example of cooperation under Team Europe for digital inclusion and human empowerment, and will also provide the European Union’s partners in Central Asia with know-how and expertise on secure and trusted digital connections,” said EIB Vice-President Kyriacos Kakouris, who oversees the Bank’s operations in Central Asia.

    This project is fully aligned with the European Union’s Global Gateway initiative, which promotes investment in secure and sustainable infrastructure to connect people and improve lives across the world. It serves as a key driver of the Team Europe initiative for digital connectivity in Central Asia.

    “The European Union and Central Asia are working together to improve the internet connection in the whole region. European technology and our Central Asian partners’ expertise can ensure that more people have access to fast and secure internet, supporting business growth, creating new jobs and improving living conditions in local communities. By investing in digital connectivity, we are bridging gaps, creating opportunities, and ensuring that Central Asia has the necessary resources to benefit fully from the digital economy,” said European Commissioner for International Partnerships Jozef Síkela.

    The project will leverage SES’s O3b mPOWER medium earth orbit satellite network expansion, which is partially financed by the EIB through a €125 million loan provided earlier this year. The satellite network expansion will facilitate the delivery of high-speed broadband services to these remote areas, ensuring reliable and scalable digital infrastructure.

    “Securing this combined EU grant and EIB Global loan demonstrates that SES’ financial foundation is solid and that it is trusted by European institutions to provide reliable satellite services. SES has already done great work on large-scale digital inclusion projects by investing in satellite systems that deliver seamless connectivity in the most remote parts of the world. We are looking forward to reaping the benefits of O3b mPOWER in Central Asia, accelerated by the European Investment Bank’s partial funding to expand our MEO satellites,” said Global Head of Enterprise and Cloud at SES Nadine Allen.

    Background information

    About EIB Global

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.

    EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027 — around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.

    About SES

    SES has a bold vision to deliver amazing experiences everywhere on Earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a provider of global content and connectivity solutions, SES owns and operates a geosynchronous orbit fleet and medium earth orbit (GEO-MEO) constellation of satellites, offering a combination of global coverage and high-performance services. Using its intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners around the world. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). 

    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
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    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
    Download original
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
    Download original
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    Team Europe provides nearly €60 million for digital connectivity in rural Central Asia
    ©EIB
    Download original

    MIL OSI Europe News –

  • MIL-OSI Security: U.S. Files Civil Forfeiture Complaint Against Aircraft Used by Nicolás Maduro Moros in Violation of U.S. Sanctions and Export Control Laws

    Source: United States Attorneys General

    Note: View the forfeiture complaint.

    The United States today filed a civil forfeiture complaint in the Southern District of Florida against a Dassault Falcon 900 EX aircraft, bearing tail number T7-ESPRT, which was smuggled from the United States under false pretenses and operated for the benefit of Nicolás Maduro Moros (Maduro) and his representatives in the Bolivarian Republic of Venezuela (the Maduro Regime) in violation of U.S. sanctions and export control laws. The aircraft was seized last year in the Dominican Republic at the request of the United States.

    Today’s filing alleges that the Dassault Falcon 900 EX aircraft was purchased and maintained in violation of U.S. sanctions against Maduro and the Maduro Regime. According to the complaint, the aircraft is forfeitable based on violations of U.S. law, including the International Emergency Economic Powers Act (IEEPA) and money laundering violations.

    Since 2014, the United States has imposed sanctions against targeted individuals, entities, and sectors in Venezuela to address the increasing political oppression and corruption in Venezuela by the Maduro Regime. On March 8, 2015, the President found that the situation in Venezuela constituted an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States and declared a national emergency pursuant to IEEPA to deal with that threat. See Executive Order (E.O.) 13692.

    In 2017, 2018, and 2019, President Trump took additional steps regarding the national emergency declared in E.O. 13692. On Aug. 5, 2019, the President issued E.O. 13884 “in light of the continued usurpation of power by Nicolás Maduro and persons affiliated with him, as well as human rights abuses, including arbitrary or unlawful arrest and detention of Venezuelan citizens, interference with freedom of expression, including for members of the media, and ongoing attempts to undermine Interim President Juan Guaidó and the Venezuelan National Assembly’s exercise of legitimate authority in Venezuela.”

    E.O. 13884 prohibits the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to the order, including the Government of Venezuela and the Maduro Regime; the receipt of any contribution or provision of funds, goods, or services from any such person; and, any transaction that evades or avoids, has the purpose of evading or avoiding, causes a violation of, or attempts to violate any of the prohibitions set forth in the order.

    The complaint alleges that on or about Jan. 23, 2023, a company purportedly based in the Caribbean island country of St. Vincent and the Grenadines (Foreign Company 1) entered into a contract to purchase the Dassault Falcon 900 EX aircraft from a company in Florida for $13,250,000. The complaint further alleges that the individual in charge of purchasing the aircraft purportedly on behalf of Foreign Company 1 was a Venezuelan national (Foreign Principal 1), who concealed the fact that he was representing or associated with the Maduro Regime.

    The complaint further alleges that Foreign Company 1 merely acted as a nominee owner of the Dassault Falcon 900 EX aircraft as it was formed shortly before the purchase, in June 2022, and was struck from the register of St. Vincent companies for failure to pay annual fees two years later, in May 2024.

    The complaint further alleges that funds used to purchase the Dassault Falcon 900EX aircraft were sent via multiple wire transfers from different countries, including Malaysia, using both U.S. dollars and euros, and that Foreign Company 1 used an email address with a “.ae” domain from the United Arab Emirates to correspond with the Florida-based seller even though Foreign Company 1’s representatives allegedly had Spanish names and some of the emails contained the phrase “Enviado desde mi iPhone,” or Spanish for “Sent from my iPhone.”

    The complaint further alleges that the Dassault Falcon 900 EX aircraft was flown from the United States to St. Vincent on or about April 3, 2023, and approximately five hours later, it departed for Caracas, Venezuela, piloted by two members of the Venezuelan Presidential Honor Guard, and accompanied by a second aircraft that operates out of a Venezuelan military base.

    The complaint further alleges that, since May 2023, the Dassault Falcon 900 EX aircraft has flown to and from Venezuela at least 21 times and Maduro has been seen traveling with the aircraft on official visits to other countries, including for a December 2023 prisoner exchange with the United States.

    As alleged, in March 2024, the Dassault Falcon 900 EX aircraft was flown to the Dominican Republic for service and maintenance where Foreign Company 1 held itself out to be the owner, concealing from the Dominican-based jet maintenance company that the aircraft had been purchased and operated for benefit of the Maduro Regime.

    The complaint further alleges that on at least two occasions in May 2024, Foreign Principal 1, purportedly acting on behalf of Foreign Company 1, and other Venezuelan individuals, including military personnel, attempted to retrieve the Dassault Falcon aircraft from the Dominican Republic.

    Following the attempts by the Venezuelan individuals to retrieve the Dassault Falcon 900 EX aircraft, the U.S. government obtained a seizure warrant and requested that the Dominican Republic seize, detain, and transfer the Dassault Falcon aircraft. Pursuant to U.S. request, the aircraft was transported back to the United States on Sept. 2, 2024. That same day, the Maduro Regime issued a statement admitting the Dassault Falcon aircraft “has been used by” Maduro.

    A second Dassault Falcon aircraft identified by the Treasury Department’s Office of Foreign Assets Control (OFAC) as blocked property of Petroleos de Venezuela, S.A. (PdVSA), the sanctioned Venezuelan state-owned oil and natural-gas company, and illegally serviced and maintained in violation of U.S. sanctions, also was seized in the Dominican Republic at the request of the United States government on Feb. 6, 2025.

    The Department of Commerce Bureau of Industry and Security Miami Field Office is investigating the case, along with the Department of Homeland Security, Homeland Security Investigations (HSI) Santo Domingo.

    Assistant U.S. Attorneys Joshua Paster and Jorge Delgado for the Southern District of Florida and Trial Attorney Ahmed Almudallal of the National Security Division’s Counterintelligence and Export Control Section are handling the matter.

    The Justice Department’s Office of International Affairs and HSI El Dorado Task Force Miami provided significant assistance in working with authorities in the Dominican Republic. The United States thanks the Dominican Republic for its assistance in this matter.

    MIL Security OSI –

  • MIL-OSI New Zealand: NZ food price inflation improving, but prices skyrocket for poor nations – WorldVision

    Source: World Vision

     

    • Food price inflation for ten basic food items has improved in New Zealand from a 56% rise in 2023 to an 18% drop in 2024
    • It takes 2.4 hours to pay for a basic food basket in NZ and 1.7 hours in Australia.  This compares with 47 days in Barundi and 20 days in Sudan.
    • There is growing global inequality in food access with food price inflation disproportionately affecting low-income nations.
    • Wealthier nations need to commit to funding emergency food aid and humanitarian aid.

     

     A new report on food price inflation shows basic food items are now more affordable in New Zealand, but reveals devastating increases for some of the world’s poorest countries, including Sudan, Burundi, and Timor Leste. 

     

    World Vision’s annual Price Shocks Report examines food price inflation in 77 countries for ten common food items, including rice, bananas, chicken, tomatoes, eggs, milk, and oil, and compares these with prices a year ago.

     

    The 2025 report finds that food prices dropped 18% in New Zealand in 2024, compared with a 56% increase for the same basic food items in 2023.  The average New Zealander would have to work for 2.4 hours to pay for the ten common food items.  This compares with three hours in 2023.

     

    However, while food price inflation has improved in more wealthy nations, such as New Zealand, Australia, France, Germany, Ireland and the United States, it has dramatically worsened for many of the world’s poorest countries, especially those in sub-Saharan Africa. 

     

    In 16 countries in this year’s study, it would take more than one week of work to earn enough money to pay for World Vision’s standard food basket.

     

    These countries, such as Sudan, Chad, Somalia, and Burundi are united in facing climate and environmental extremes, along with armed conflict, political instability and massive population displacement.

     

    World Vision Head of Advocacy and Justice, Rebekah Armstrong, says the report highlights the urgent need for adequate funding for emergency food aid.

     

    “This report is released in turbulent and uncertain times and the findings emphasise the need for urgent action to sustain global food systems and prevent the agonising impacts of hunger.

     

    “This requires interventions to address the root causes of hunger, but it also demands that we fund and deliver adequate emergency food aid. 

     

    “Sadly, we know that humanitarian funding for food security programming is expected to fall far short of the target to address predicted needs in 2025, and that means millions will go hungry due a deficit of political will and resources.  It doesn’t have to be this way,” she says. 

     

    World Vision is calling on the New Zealand government to make a strong commitment to support humanitarian food aid, climate adaptation, and global hunger responses — especially within the Asia-Pacific region, where communities are particularly vulnerable to climate and economic shocks. 

     

    Armstrong says in addition to saving millions of lives, emergency food aid and cash grants for food are one of the key ways to avoid greater political unrest around the world.

     

    “Food insecurity is an indicator of wider instability, but it also contributes to political unrest, conflict, economic stagnation and delays in development.  Addressing food security is a proven method to help create a safer and more secure world for everyone,” she says. 

     

    Armstrong says in 2024, only 47% of required humanitarian food assistance was funded leaving millions without support.

     

    She says the Rohingya crisis, the ongoing war in Sudan, prolonged droughts in the Horn of Africa and cyclones in the Pacific all contribute to conditions that exacerbate hunger.

     

    “We are at a breaking point.  Governments and the global community need to fulfil the commitments they have made and act now to scale up food aid, support smallholder farmers and invest in long-term solutions to prevent millions more from falling into famine.”

     

    New Zealanders who want to support emergency food aid can give here: wvnz.org.nz/wfp

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Members agree on topics for experience-sharing sessions on services trade

    Source: WTO

    Headline: Members agree on topics for experience-sharing sessions on services trade

    Members also explored the linkages between services trade and environmental sustainability at an event organized by the WTO Secretariat on 12 March.
    Giving effect to ministerial mandate
    The agreement to organize informal experience-sharing sessions on good regulatory practices and recognition of professional qualifications stems from the February 2024 ministerial mandate to  reinvigorate work on trade in services and to facilitate the increased participation of developing members in services trade. Members will also continue discussions on the possibility of organizing sessions on the green transition and digitalization.
    Several members reiterated their call for not duplicating the work carried out in the Council’s subsidiary bodies and for having balanced deliberations.
    Participation of least-developed countries (LDCs) in services trade
    Members responded favourably – pending final discussions on technical issues – to a request by the WTO LDC group to collect information through a survey hosted on the WTO website on how their service suppliers are engaging with consumers and enterprises in other economies. Particular attention will be paid to the 51 WTO members that have notified preferences for LDC services and service suppliers. Members reiterated their commitment to support the participation of LDCs in services trade.
    Members have notified preferences for LDC service suppliers in line with a ministerial mandate to operationalize the “LDC Services Waiver”, which was adopted at the 8th Ministerial Conference in 2011.
    A total of 37 WTO members are classified as LDCs. More information on the waiver can be found here.
    Services trade concerns
    Members discussed three previously addressed specific trade concerns involving cybersecurity measures and mobile applications, among other services-related topics.
    Japan and the United States, supported by several other members, reiterated concerns about the cybersecurity measures of China and Viet Nam. China repeated concerns with certain services measures of the United States. China also reiterated its concerns regarding India’s measures in relation to mobile applications.
    Trade in financial services
    Members continued discussing how to reinvigorate work on trade in services in the Committee on Trade in Financial Services. A new proposal, bringing together three earlier submissions from China, the Philippines and India, calls for information-sharing sessions on digital payments, interoperability of payment systems and cost of remittance services. The proposal also refers to crisis preparedness as advocated by Pakistan. Details of previous discussions can be found here.
    The Committee is one of the Services Council’s subsidiary bodies.
    Classification of environmental services
    At a meeting of the Committee on Specific Commitments held on 11 March, members heard from Costa Rica and Switzerland about how the Agreement on Climate Change, Trade and Sustainability is helping its parties define, classify and make commitments in environmental services.
    In the Agreement, Costa Rica, Iceland, New Zealand and Switzerland set out the commitments they have made on 114 services ranging from environmental protection to resource management and climate change adaptation and mitigation.
    Members welcomed the presentation and agreed to engage further on this topic.
    The Committee is one of the Services Council’s subsidiary bodies.
    Recent developments in services trade policy
    An event held on 12 March entitled “Nexus between Trade in Services and Environmental Sustainability:  Evidence from Recent Research” looked at the role of services trade in promoting environmental sustainability and the impact of environmental policy on services trade.
    Introducing a forthcoming research paper titled “Services Trade and Environmental Sustainability: Conceptual Linkages and Empirical Patterns”, the Organisation for Economic Co-operation and Development highlighted the important role that services trade can play in tackling environmental challenges. This is particularly important as services represent two-thirds of global output and are among the most dynamic sectors in international trade.
    The value that services trade adds to supply chains can support greener production functions and consumption patterns, the OECD noted. For example, engineering services can be used in the green hydrogen production supply chain and financial services can support carbon mitigation projects.
    The OECD paper makes the case for removing restrictions to services imports and for examining synergies with environmental policymaking. Countries at all levels of development stand to benefit from increased openness and participation in services trade as a result of increased domestic productivity, the OECD noted.
    This event was organized by the WTO’s Trade in Services and Investment Division as part of the “Simply Services” speaker series, an informal platform for sharing the latest information on trends in services trade. The webcast of the event can be watched here.

    Share

    MIL OSI Economics –

  • MIL-OSI NGOs: Israel/OPT: Israeli air strikes kill over 400 Palestinians across Gaza in unilateral resumption of mass attacks

    Source: Amnesty International –

    ‘The world cannot stand by and allow Israel to continue inflicting staggering levels of death and suffering on Palestinians in Gaza’ – Agnes Callamard

    Responding to a series of Israeli strikes across the occupied Gaza Strip overnight which killed at least 414 Palestinians, including 174 children, and hospitalised over 550 more, signalling a unilateral end to the truce with Hamas, Amnesty International’s Secretary General Agnès Callamard said:

     

    “Today is a desperately dark day for humanity. Israel brazenly resumed its devastating bombing campaign in Gaza killing at least 414 people in their sleep, including at least 100 children, and again wiping out entire families in a matter of hours. Palestinians in Gaza – who have barely had a chance to start piecing together their lives and continue to grapple with the trauma of Israel’s past attacks – have woken up once more to the hellish nightmare of intense bombardment.

     

    “Israel’s genocide and its unlawful air strikes have already caused unprecedented humanitarian suffering in Gaza. Today, we are back to square one. Since 2 March, Israel has re-imposed a total siege on Gaza blocking the entry of all humanitarian aid, medicine, and commercial supplies, including fuel and food, in flagrant violation of international law. Israel has also cut off electricity to Gaza’s main operational desalination plant. And today the Israeli military has once again started issuing mass ‘evacuation’ orders displacing Palestinians.

     

    “Amnesty International’s researchers spoke to medical staff working at three hospitals in Gaza City and North Gaza governorate who described scenes of unspeakable horror beginning in the early hours of the morning. Al-Shifa, once the largest medical complex in Gaza, now largely destroyed by past Israeli military raids, had only three beds to receive the wounded.

     

    “Al-Ahli Arab Baptist hospital in Gaza City – the only hospital with a functioning intensive care unit – was forced to treat some of the 80 wounded it received in the corridors and in the hospital’s yard. The Indonesian hospital is the only hospital in North Gaza Governorate that is barely functioning. It is still in the process of being rebuilt, following Israel’s previous military campaign. 

     

    “The near-total decimation of the healthcare system in Gaza, particularly in the north, and the desperate shortages in medical equipment and supplies, exacerbated by Israel’s unlawful siege, effectively means a death sentence for many of those with serious injuries and illnesses, including those that in normal conditions would be easily curable. All the while, Israeli authorities continue to impose extremely tight restrictions on medical evacuations outside Gaza. 

     

    “The resumption of Israel’s attacks also puts the lives of 24 remaining Israeli hostages believed to be alive at risk. This is also a cruel blow for hostages and Palestinian detainees as well as for their families. We remind all parties that civilian hostages and arbitrarily detained Palestinians must be released.

     

    “The world cannot stand by and allow Israel to continue inflicting staggering levels of death and suffering on Palestinians in Gaza. We urge all states to uphold their obligations to prevent and punish genocide and to ensure respect for international humanitarian law, by pressing Israel to end its attacks and to facilitate the unconditional and unhindered entry of humanitarian aid.

     

    “States must come together and demand an immediate resumption of an enduring ceasefire, an end to Israel’s genocide against Palestinians in Gaza, and the dismantling of its system of apartheid and unlawful occupation of Palestinian territory.”

    MIL OSI NGO –

  • MIL-OSI NGOs: Georgia: Authorities freeze bank accounts of organisations supporting activists to ‘kill peaceful protest’

    Source: Amnesty International –

    Reacting to the freezing of bank accounts belonging to five Georgian NGOs that provide financial and legal assistance to detained protesters, Denis Krivosheev, Amnesty International’s Eastern Europe and Central Asia Deputy Director, said: 

    “The Georgian authorities’ decision to freeze the accounts of civil society organisations who have been providing crucial financial support to arbitrarily detained protesters, helping them with payments of fines and legal representation, is yet another blatant attack by the Georgian authorities on human rights.  

    “This measure seeks to further undermine the rights to peaceful assembly and association and violates Georgia’s international human rights obligations. 

    “The Georgian authorities must immediately end their relentless crackdown against civil society and peaceful protest. The arbitrary asset freezes must be lifted without delay.” 

    A chilling effect 

    On 17 March, three Georgian NGOs – Nanuka’s Fund, managed by journalist Nanuka Zhorzholiani, Prosperity Georgia, run by former prime minister and businessman Nika Gilauri, and the NGO Human Rights House Tbilisi – announced that they had been informed by their banks that the Tbilisi City Court had issued an urgent injunction to freeze their accounts. Two other NGOs, Fund for Each Other 24/7 and Shame Movement, have also had their assets frozen. 

    The frozen funds have been providing financial assistance to individuals fined for participating in the ongoing anti-government protests or dismissed from their jobs due to their civic activism. Local activists have warned that this latest assault could effectively “kill the entire protest movement.” 

    Nanuka Zhorzholiani of Nanuka’s Fund was the first to report the assets freeze, with the other four NGOs later confirming similar measures being taken against them. None were notified of any concerns of financial irregularities prior to the freezing. The Prosecutor’s Office later issued a statement saying the funds had been seized as part of an investigation into “sabotage’’. The prosecution statement claimed the funds bore responsibility for alleged violence and property damage linked to ongoing protests, though no official evidence or further details have been provided. 

    The Government of the ruling Georgian Dream party has recently intensified its crackdown on civil society and all dissent by weaponising the country’s criminal justice system and introducing a series of unduly restrictive legislative amendments targeting free expression and public assemblies. 

    Changes to the “Law on Assemblies and Demonstrations” have drastically increased fines, extended so-called administrative detention for violations of the law from 15 to 60 days, and banned actions like covering one’s face. 

    Additional legislative measures have targeted civil society organisations and independent media, including restrictions on foreign funding, expanded state control over grants, and introduced new offences such as insult of officials. 

    These amendments, coupled with the expansion of law enforcement agencies’ powers, have severely undermined the right to peaceful assembly, and placed a huge financial and legal burden on protesters. 

    MIL OSI NGO –

  • MIL-OSI NGOs: Israeli air strikes kill over 400 Palestinians across Gaza following unilateral resumption of mass attacks  

    Source: Amnesty International –

    Responding to a series of Israeli strikes across the occupied Gaza Strip overnight which killed at least 414 Palestinians, including 174 children, and hospitalized over 550 more, signalling a unilateral end to the truce with Hamas, Amnesty International’s Secretary General Agnès Callamard said:

    “Today is a desperately dark day for humanity. Israel brazenly resumed its devastating bombing campaign in Gaza killing at least 414 people in their sleep, including at least 100 children, and again wiping out entire families in a matter of hours. Palestinians in Gaza – who have barely had a chance to start piecing together their lives and continue to grapple with the trauma of Israel’s past attacks – have woken up once more to the hellish nightmare of intense bombardment.

    Palestinians in Gaza – who have barely had a chance to start piecing together their lives and continue to grapple with the trauma of Israel’s past attacks – have woken up once more to the hellish nightmare of intense bombardment.

    Amnesty International’s Secretary General Agnès Callamard

    “Israel’s genocide and its unlawful air strikes have already caused unprecedented humanitarian suffering in Gaza. Today, we are back to square one. Since 2 March, Israel has re-imposed a total siege on Gaza blocking the entry of all humanitarian aid, medicine, and commercial supplies, including fuel and food, in flagrant violation of international law. Israel has also cut off electricity to Gaza’s main operational desalination plant. And today the Israeli military has once again started issuing mass ‘evacuation’ orders displacing Palestinians.

    “Amnesty International’s researchers spoke to medical staff working at three hospitals in Gaza City and North Gaza governorate who described scenes of unspeakable horror beginning in the early hours of the morning. Al-Shifa, once the largest medical complex in Gaza, now largely destroyed by past Israeli military raids, had only three beds to receive the wounded.

    “Al-Ahli Arab Baptist hospital in Gaza City – the only hospital with a functioning intensive care unit – was forced to treat some of the 80 wounded it received in the corridors and in the hospital’s yard. The Indonesian hospital is the only hospital in north Gaza Governorate that is barely functioning. It is still in the process of being rebuilt, following Israel’s previous military campaign.  

    “The near-total decimation of the healthcare system in Gaza, particularly in the north, and the desperate shortages in medical equipment and supplies, exacerbated by Israel’s unlawful siege, effectively means a death sentence for many of those with serious injuries and illnesses, including those that in normal conditions would be easily curable. All the while, Israeli authorities continue to impose extremely tight restrictions on medical evacuations outside Gaza.  

    “The resumption of Israel’s attacks also puts the lives of 24 remaining Israeli hostages believed to be alive at risk. This is also a cruel blow for hostages and Palestinian detainees as well as for their families. We remind all parties that civilian hostages and arbitrarily detained Palestinians must be released.

    “The world cannot stand by and allow Israel to continue inflicting staggering levels of death and suffering on Palestinians in Gaza. We urge all states to uphold their obligations to prevent and punish genocide and to ensure respect for international humanitarian law, by pressing Israel to end its attacks and to facilitate the unconditional and unhindered entry of humanitarian aid. “States must come together and demand an immediate resumption of an enduring ceasefire, an end to Israel’s genocide against Palestinians in Gaza, and the dismantling of its system of apartheid and unlawful occupation of Palestinian territory.”

    MIL OSI NGO –

  • MIL-OSI NGOs: Georgia: Authorities freeze accounts of organizations supporting protesters, to “kill the peaceful protests”

    Source: Amnesty International –

    Reacting to the freezing of bank accounts belonging to five Georgian NGOs that provide financial and legal assistance to detained protesters, Denis Krivosheev, Amnesty International’s Eastern Europe and Central Asia Deputy Director, said:

    “The Georgian authorities’ decision to freeze the accounts of civil society organizations who have been providing crucial financial support to arbitrarily detained protesters, helping them with payments of fines and legal representation, is yet another blatant attack by the Georgian authorities on human rights. This measure seeks to further undermine the rights to peaceful assembly and association and violates Georgia’s international human rights obligations.”

    “The Georgian authorities must immediately end their relentless crackdown against civil society and peaceful protest. The arbitrary asset freezes must be lifted without delay.”

    The Georgian authorities’ decision to freeze the accounts of civil society organizations who have been providing crucial financial support to arbitrarily detained protesters, helping them with payments of fines and legal representation, is yet another blatant attack by the Georgian authorities on human rights

    Denis Krivosheev, Amnesty International’s Eastern Europe and Central Asia Deputy Director

    Background

    On 17 March, three Georgian NGOs – Nanuka’s Fund, managed by journalist Nanuka Zhorzholiani, Prosperity Georgia, run by former prime minister and businessman Nika Gilauri, and the NGO Human Rights House Tbilisi – announced that they had been informed by their banks that the Tbilisi City Court had issued an urgent injunction to freeze their accounts. Two other NGOs, Fund for Each Other 24/7 and Shame Movement, have also had their assets frozen.

    The frozen funds have been providing financial assistance to individuals fined for participating in the ongoing anti-government protests or dismissed from their jobs due to their civic activism. Local activists have warned that this latest assault could effectively “kill the entire protest movement.”

    Nanuka Zhorzholiani of Nanuka’s Fund was the first to report the assets freeze, with the other four NGOs later confirming similar measures being taken against them. None were notified of any concerns of financial irregularities prior to the freezing. The Prosecutor’s Office later issued a statement saying the funds had been seized as part of an investigation into “sabotage’’. The prosecution statement claimed the funds bore responsibility for alleged violence and property damage linked to ongoing protests, though no official evidence or further details have been provided.

    The government of the ruling Georgian Dream party has recently intensified its crackdown on civil society and all dissent by weaponizing the country’s criminal justice system and introducing a series of unduly restrictive legislative amendments targeting free expression and public assemblies.

    Changes to the “Law on Assemblies and Demonstrations” have drastically increased fines, extended so-called administrative detention for violations of the law from 15 to 60 days, and banned actions like covering one’s face.

    Additional legislative measures have targeted civil society organizations and independent media, including restrictions on foreign funding, expanded state control over grants, and introduced new offences such as insult of officials.

    These amendments, coupled with the expansion of law enforcement agencies’ powers, have severely undermined the right to peaceful assembly, and placed a huge financial and legal burden on protesters.

    MIL OSI NGO –

  • MIL-OSI USA: Cortez Masto, Cornyn Introduce Outbound Investment Legislation to Counter China

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    Washington, D.C. – U.S. Senators Catherine Cortez Masto (D-Nev.) and John Cornyn (R-Texas) introduced the Foreign Investment Guardrails to Help Thwart (FIGHT) China Act, which would safeguard the United States’ national security against the growing threat posed by the communist People’s Republic of China (PRC) by prohibiting and requiring notification of U.S. investment in certain technologies in China.
    “When it comes to cutting-edge technologies – such as AI and semiconductors – the United States must remain ahead of China,” said Senator Cortez Masto. “I’m proud to stand with my colleagues across the aisle to introduce this bill that is critical for our national security. We can and must make sure no American investments are giving the Chinese Communist Party a leg up in developing these vitally important technologies.”
    The Foreign Investment Guardrails to Help Thwart (FIGHT) China Act would permit the Secretary of the Treasury to prohibit U.S. investments in certain technologies in the People’s Republic of China (PRC), including certain Artificial Intelligence (AI) models, quantum computers, materials used in hypersonic systems, and other military technologies. It would also require U.S. entities to notify the U.S. Department of the Treasury of investments in certain AI models in the PRC. Lastly, the legislation would permit the Secretary of the Treasury to impose sanctions under the International Emergency Economic Powers Act (IEEPA) against PRC entities that engage with the PRC military and intelligence sectors.
    Senator Cortez Masto has led efforts in Congress to strengthen our national security and supply chains.Senators Cortez Masto and Rounds (R-S.D.) introduced the PASS Act to ban individuals and entities controlled by China, Russia, Iran, and North Korea from purchasing agricultural land and businesses located near U.S. military installations or sensitive sites and the Strengthening Exports Against China Act,which would incentivize economic growth by eliminating barriers for American businesses competing directly with China in emerging industries like artificial intelligence and semiconductors. She’s also introduced bipartisan legislation to strengthen the domestic supply chain for rare-earth magnets, which are critical components of cell phones, computers, defense systems, and electric vehicles, but are almost exclusively made in China.

    MIL OSI USA News –

  • MIL-OSI: J’JO’s findings shed light on need and value for more crypto index investing

    Source: GlobeNewswire (MIL-OSI)

    The J’JO35 crypto index offers a seamless onboarding process for new and retail investors, as well as institutional players, by enabling them to invest in the top 35 tokens by market capitalization

    SINGAPORE, March 18, 2025 (GLOBE NEWSWIRE) — J’JO Finance, a crypto index solution that prioritizes risk mitigation and is available to everyone with only a few clicks, reveals several key insights from an internal document highlighting how index investing can help retail crypto investors. The document also includes the benefits its solution offers, and its competitive advantage. As a platform prioritizing user satisfaction, J’JO shares its insights to promote transparency and awareness around the value crypto indexing provides, including its own J’JO35 index of the top 35 cryptocurrencies.

    In traditional finance, index investing has proven its effectiveness over the past decades while being widely recognized by economists as the most accessible and efficient investing tool. In fact, according to The Economist, these funds have grown around six times faster than those handled by fund managers. However, the crypto ecosystem hasn’t seen that level of income generation nor the same degree of interest from digital asset investors. This is largely due to the industry not prioritizing the importance of risk management, diversified portfolios, and user experience.

    Despite at least three-quarters of users losing on their long-term investments, the overall market has grown by over 27,000 percent between January 2014 and December 2024. And since its launch in 2020, J’JO’s J’JO35 index has returned more than 1,100 percent earnings. The following is a summary of some of J’JO’s key findings on why crypto indexes are a valuable resource for retail investors:

    • Simplicity: Index investing is incredibly simple and requires no specialized knowledge, company (or project) analysis, expert involvement, or investor actions.
    • Accessibility: In theory, crypto indexes are available for everyone because they remove many of the industry’s investing barriers such as middlemen and a minimum deposit. This also frees investors from following the news, monitoring the market, or worrying about their positions. Whatever happens, one’s investments always remain in top-performing projects or currencies, regardless of the amount invested.
    • Reliability: In traditional finance, indexes have consistently demonstrated proven long-term effectiveness with the S&P 500 index, for example, nearly quadrupling the ROI of five top funds.
    • Risk management: Indexes provide portfolio diversification which helps mitigate risk by spreading it across several assets. This reduces volatility and insulates investors from unsystematic risks.

    J’JO’s report also outlines the customer benefits and competitive advantages of its index. A few of these advantages include:

    • Purchasing real assets: J’JO doesn’t offer synthetic products or tokens that “include” or “reflect” other assets, wrapped coins, or altered tokens. The company’s clients own real coins that are part of the index and can easily access them in their exchange accounts.
    • J’JO doesn’t handle users’ funds: Users aren’t required to transfer their funds to J’JO as all investments and assets remain secure on their personal exchange accounts. Investors’ money stays with them, yet it is fully invested in the index, allowing for capital growth without transferring funds.
    • Low entry threshold: J’JO doesn’t impose a minimum investment amount, making the solution accessible to everyone, even those without significant capital.
    • Compatibility with all major exchanges: Users can choose their preferred exchange and even connect multiple exchanges simultaneously, allowing for seamless management of their crypto investment portfolio from a single platform.
    • No Commissions: J’JO operates on a fixed subscription model, costing $140 per year, with no additional fees, meaning no commissions on the invested amount or income generated. The platform is free for investments up to $500.

    “Despite the slight instability in the current economic climate, today’s investor sees crypto as a worthy asset but doesn’t have the time to deal with blockchain’s complex and confusing technical aspects,” says Andrei Ponomarev, co-founder and CEO of J’JO. “Both traditional investors and crypto natives have seen the consistent growth of the digital asset market over the last decade and are starting to wonder if there is a straightforward mechanism to gain exposure within a safe and diversified framework. This is where J’JO steps in to provide convenient access to a risk-managed basket of digital assets that account for 80 percent of the sector’s market capitalization.”

    About J’JO:
    Founded in 2020 and based in Singapore, J’JO offers the J’JO35, an index of the top 35 cryptocurrencies in the market. The service connects users to their exchange of choice and balances their portfolios according to the index. As the S&P 500 of the decentralized economy, J’JO is a service for investing in a market index of cryptocurrencies that allows users to maintain full control over their assets. Since 2020, J’JO35 has outperformed Bitcoin and Ethereum and has an APY of 67 percent. For more information, visit: https://jjo.finance/en

    Contact:
    Ari Karp
    pr@jjoapp.io

    Disclaimer: This press release is provided by J’JO.The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/338fd359-aa12-4c5c-9321-6285fab4509d

    The MIL Network –

  • MIL-OSI Asia-Pac: Various measures have been taken by the government to strengthen cyber security in the financial sector

    Source: Government of India (2)

    Various measures have been taken by the government to strengthen  cyber security in the financial sector

    Artificial Intelligence (AI) based tool ‘MuleHunter’ for identification of money mule has been launched by RBI

    Posted On: 18 MAR 2025 4:55PM by PIB Delhi

    The Government has been constantly engaging with the financial sector regulators and other concerned stakeholders to strengthen the cyber security. The Ministry of Home Affairs (MHA) has established the Indian Cyber Crime Coordination Centre (l4C) as an attached office to provide a framework and eco-system for Law Enforcement Agencies (LEAs) to deal with cybercrimes in a comprehensive and coordinated manner. The MHA has also launched the National Cyber Crime Reporting portal(https://cybercrime.gov.in) to enable the public to report all types of cyber crimes. Cyber crime incidents reported on this portal are routed automatically to the respective State/UT LEAs for further handling as per the provisions of law. The ‘Citizen Financial Cyber Fraud Reporting and Management System’ has been launched for immediate reporting of financial frauds and to stop siphoning off fund by the fraudsters. So far, an amount of Rs. 4386 Crore (approx..) has been saved involving 13.36 lakh complaints. Further suspect registry of identifiers of cyber criminals has been launched by MHA in collaboration with Banks/Financial institutions.

    In order to reinforce the security of digital transactions, various initiatives have been taken by the Government, Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) from time to time. RBI has issued Master Directions on Digital Payment Security Controls in February, 2021 to combat web and mobile app threats. These guidelines mandate the banks to implement a common minimum standards of security controls for various payment channels like internet, mobile banking, card payment etc. RBI has also launched an Artificial Intelligence (AI) based tool ‘MuleHunter’ for identification of money mule and advised the banks and financial institutions for its uses.

    Similarly, NPCI has also implemented device binding between customer mobile number and the device, two factor authentication through PIN, daily transaction limit, limits and curbs on use cases etc to secure UPI transactions. NPCI also provides a fraud monitoring solution to all the banks to generate alerts and decline transactions by using AI/ML based models. RBI and Banks have also been taking up awareness campaigns through short SMS, radio campaign, publicity on prevention of ‘cyber-crime’ etc.

    This information was given by Minister of State For Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha  today.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Mutual Credit Guarantee Scheme for MSMEs (MCGS- MSME) provides 60% guarantee for credit facility up to Rs.100 crore

    Source: Government of India (2)

    Mutual Credit Guarantee Scheme for MSMEs (MCGS- MSME) provides 60% guarantee for credit facility up to Rs.100 crore

    Measures pertaining to direct taxes taken by the government for reducing the compliance burden for smaller businesses and individual tax payers

    Posted On: 18 MAR 2025 4:54PM by PIB Delhi

    The Mutual Credit Guarantee Scheme for MSMEs (MCGS- MSME) has been launched for providing 60% guarantee coverage by National Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending Institutions (MLIs) for credit facility up to Rs.100 crore sanctioned to eligible MSMEs under MCGS-MSME for purchase of equipment/ machinery.

    The eligibility criteria for borrowers under Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME) is as below:

    i. It should be an MSME with valid Udyam Registration Number;

    ii. It should not be an NPA with any lender;

    iii. Minimum cost of equipment /machinery is 75% of project cost;

    The Scheme is being implemented by National Credit Guarantee Trustee Company Limited (NCGTC), a wholly owned company of Department of Financial Services, Ministry of Finance, Government of India. The MLI shall sanction loans to eligible borrowers and then submit details of the loan account on the portal of NCGTC along with payment of fees, whereupon the MLI shall get a confirmation of loan being guaranteed under the Scheme.

    The Scheduled Commercial Banks (SCBs) / All India Financial Institutions (AIFIs) and Non-Banking Finance Companies (NBFCs), shall be the eligible MLIs under the Scheme, subject to execution of an agreement by them with NCGTC.

    Further, various measures pertaining to direct taxes have been undertaken recently by the government for reducing the compliance burden for smaller businesses and individual tax payers: –

    i. Provisions for presumptive taxation for businesses under Section 44 AD and Section 44 AE of the Income-tax Act, 1961 (the Act).

    ii. Provisions for tax audit for businesses under Section 44 AB of the Act.

    iii. Provision for reduction in compliance burden by omission of TCS on sale of specified goods under Section 206C of the Act.

    iv. Rationalization of tax deducted at source (TDS) rates under various provisions of the Act.

    v. Simplification of the Income-tax Act is proposed.

    The new Income-tax Bill 2025 proposes to make the direct tax provisions concise, lucid, easy to read and understand. Redundant provisions have been eliminated and the drafting style of the new Bill is straightforward and clear.

    This information was given by Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Rajya Sabha MP Thiru Ilaiyaraaja meets Prime Minister

    Source: Government of India (2)

    Posted On: 18 MAR 2025 4:54PM by PIB Delhi

    Rajya Sabha MP Thiru Ilaiyaraaja met Prime Minister, Shri Narendra Modi in New Delhi today.

    Shri Modi lauded Ilaiyaraaja’s first-ever Western classical symphony, Valiant, which was recently performed in London with the prestigious Royal Philharmonic Orchestra. Recognizing the maestro’s monumental impact on Indian and global music, Prime Minister, Shri Narendra Modi hailed Ilaiyaraaja as a “musical titan and a trailblazer,” whose work continues to redefine excellence on a global scale.

    Shri Modi said in a X post;

    “Delighted to meet Rajya Sabha MP Thiru Ilaiyaraaja Ji, a musical titan whose genius has a monumental impact on our music and culture. 

    He is a trailblazer in every sense and he made history yet again by presenting his first-ever Western classical symphony, Valiant, in London a few days ago. This performance was accompanied by the world-renowned Royal Philharmonic Orchestra. This momentous feat marks yet another chapter in his unparalleled musical journey—one that continues to redefine excellence on a global scale.

    @ilaiyaraaja”

     

     

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: A total of 55.02 crore Jan-Dhan accounts have been opened till 7th March 2025, out of which 36.63 crore accounts are in rural and semi-urban areas

    Source: Government of India (2)

    A total of 55.02 crore Jan-Dhan accounts have been opened till 7th March 2025, out of which 36.63 crore accounts are in rural and semi-urban areas

    Cumulative enrolment under Pradhan Mantri Suraksha Bima Yojana (PMSBY) is 50.30 crore till 7th March 2025

    Atal Pension Yojana, Pradhan Mantri Mudra Yojana, Stand Up India Scheme and other financial inclusion schemes have also witnessed remarkable progress

    Posted On: 18 MAR 2025 4:52PM by PIB Delhi

    The Government initiated the National Mission for Financial Inclusion (NMFI), namely the Pradhan Mantri Jan Dhan Yojana (PMJDY) in August, 2014 to provide universal banking services for every unbanked adult based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded and serving unserved and underserved areas. A total of 55.02 crore Jan-Dhan accounts have been opened till 07.03.2025, out of which, 36.63 crore accounts are in rural and semi-urban areas.

    In addition to the PMJDY, the following schemes have also been launched to provide affordable financial services for all, especially marginalized and underserved populations:

    i. Pradhan Mantri Suraksha Bima Yojana (PMSBY): The Scheme is a one-year personal accident insurance scheme, renewable from year to year, offering coverage of Rs. 2 lakh for death or permanent total disability and Rs. 1 lakh for permanent partial disability due to an accident at a premium of Rs. 20/- per annum. It is available to people in the age group of 18 to 70 years having a bank account who give their consent to join the scheme.

    As on 07.03.2025, cumulative enrolment under PMSBY is 50.30 crore.

     ii. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): The Scheme is a one-year life insurance scheme, renewable from year to year, offering coverage of Rs. Two lakh for death due to any reason at a premium of Rs. 436/- per annum and is available to people in the age group of 18 to 50 years having a bank account who give their consent to join the scheme.

    As on 07.03.2025, cumulative enrolment under PMJJBY is 23.21 crore.

    iii. Atal Pension Yojana: The Scheme aims to provide monthly pension to eligible subscribers with age limit of 18 to 40 years not covered under any organized pension Scheme. Under this scheme, the subscribers would receive the fixed minimum pension of Rs. 1000, Rs. 2000, Rs. 3000, Rs. 4000 and Rs. 5000 per month, at the age of 60 years, depending on the contributions.

    As on 07.03.2025, enrolments under this scheme are 7.49 crore.

    iv. Pradhan Mantri Mudra Yojana (PMMY): The Scheme provides access to institutional finance to micro/small business units up to Rs.20 lakh for income generating activities such as manufacturing, trading, services, activities allied to agriculture.

    As on 28.02.2025, 52.07 crore loans amounting to Rs. 33.19 lakh crore have been sanctioned since inception of the Scheme.

    v. Stand Up India Scheme (SUPI): The Scheme aims to promote entrepreneurship among people from Schedule caste/Schedule tribe and woman. The Scheme facilitates bank loans between Rs.10 lakh and Rs.1 crore to one Scheduled Caste/ Scheduled Tribe borrower and one-woman borrower per bank branch of Scheduled Commercial Banks for setting up greenfield enterprises in trading, manufacturing and services sector.

    As on 07.03.2025, 2.67 lakh loans amounting to Rs. 60,504 crores have been sanctioned since inception of the Scheme.

    vi. PM Vishwakarma Scheme: The Scheme, launched on 17.09.2023, is being administered jointly by Ministry of Small & Medium Enterprises (MSME) and Ministry of Skill Development & Enterprises and Department of Financial Services. It aims to provide end-to end holistic support to traditional artists and craftspeople engaged in 18 identified trades through access to skill training, collateral-free credit, modern tools, market linkage support and incentive for digital transactions.

    vii. Prime Minister Street Vendor’s Atma Nirbhar Nidhi (PMSVANidhi): The Scheme is being administered by Ministry of Housing & Urban Affairs (MoHUA). It was launched on June 01, 2020 with the main objective of providing relief to street vendors affected by Covid-19 lockdown. The Scheme envisages empowering street vendors by not only extending loans to them but also for their holistic economic development.

    Further, from time to time, camps are conducted at village level to promote awareness about various financial inclusion schemes and to enrol more people under these schemes.

    This information was given by Minister of State in the Ministry of Finance Shri Pankaj Chaudhary in a written reply to a question in Rajya Sabha today.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Under the Nutrient Based Subsidy (NBS) scheme, a fixed amount of subsidy is provided on subsidized P&K fertilizers depending on their nutrient content

    Source: Government of India

    Under the Nutrient Based Subsidy (NBS) scheme, a fixed amount of subsidy is provided on subsidized P&K fertilizers depending on their nutrient content

    The Government has provided special packages on Di-Ammonium Phosphate (DAP) over and above the NBS subsidy rates on need basis to ensure smooth availability of DAP at affordable prices to farmers

    Urea is provided to the farmers at a statutorily notified Maximum Retail Price; MRP of 45 kg bag of urea is Rs. 242 per bag (exclusive of charges towards neem coating and taxes as applicable) which  has remained unchanged since 01.03.2018 to till date

    Posted On: 18 MAR 2025 4:34PM by PIB Delhi

    The Government has implemented Nutrient Based Subsidy (NBS) scheme w.e.f. 01.04.2010 for Phosphatic & Potassic (P&K) fertilizers. Under the NBS scheme, a fixed amount of subsidy, decided on an annual/bi-annual basis, is provided on subsidized P&K fertilizers depending on their nutrient content including Di-Ammonium Phosphate (DAP). Under NBS scheme, The P&K sector is decontrolled, fertilizer companies are allowed to fix MRP at reasonable levels which is monitored by the Government. The fertilizer companies manufacture/import fertilizers as per the market dynamics.

    Further, in order to ensure smooth availability of DAP at affordable prices to farmers, the Government has provided special packages on DAP over and above the NBS subsidy rates on need basis. Recently, in 2024-25, due to geo-political situation, adversely affecting the viability of procurement of DAP by the fertilizer companies, the Government has approved One-time special package on DAP beyond the NBS rates on actual PoS (Point of Sale) sale of DAP for the period from 01.04.2024 till 31.12.2024 @ ₹ 3500 per MT which has now been extended till 31.03.2025 to ensure sustainable availability of DAP at affordable price to the farmers. Further, the guidelines on evaluation of reasonableness of MRPs fixed by the P&K Fertilizer companies also ensure availability of fertilizers at affordable prices to farmers across the country including Odisha.

    Urea, is provided to the farmers at a statutorily notified Maximum Retail Price (MRP). The MRP of 45 kg bag of urea is Rs.242 per bag (exclusive of charges towards neem coating and taxes as applicable) and the MRP has remained unchanged since 01.03.2018 to till date. The difference between the delivered cost of urea at farm gate and net market realization by the urea units is given as a subsidy to the urea manufacturer/importer by the Government of India. Accordingly, all farmers are being supplied urea at subsidized rates.

    The Indian Council of Agricultural Research(ICAR) under the All India Coordinated Research Project on  ‘Long-term Fertilizer Experiments’ has assessed the impact of long-term use of chemical fertilizers in different soil types (fixed locations) under dominant cropping systems. Investigations carried out over five decades at fixed sites have indicated that there is no harmful effect of chemical fertilizers on soil fertility with balanced and judicious use. However, imbalanced use of chemical fertilizers coupled with low addition of organic matter over years may cause multi nutrient deficiencies vis-à-vis decline in soil health. Continuous use of nitrogenous fertilizer alone had deleterious effects on soil health and crop productivity showing deficiencies of other nutrients. The investigation over the last few decades indicated that even in the NPK fertilized system, nutritional disorders in terms of deficiency of micro and secondary nutrients surfaced after a few years affecting soil health and crop productivity. Highest decline in crop yield was observed in plots receiving only urea. In case of drip irrigation (fertigation), comparable crop yield can be obtained with less amount of water and fertilizers due to higher water and nutrient use efficiencies.

    ICAR recommends soil test based balanced and integrated nutrient management through conjunctive use of both inorganic and organic sources (manure, bio-fertilizers etc.) of plant nutrients for judicious use of chemical fertilizers and to improve soil health. The ICAR also imparts training, organizes FLDs etc. to educate farmers on all these aspects. All these measures reduce chemical fertilizer use in the country.

    Further, the Government has approved the Market Development Assistance (MDA) @ Rs. 1500/MT to promote organic fertilizers, i.e. manure produced at plants under GOBARdhan initiative covering different Biogas/CBG support schemes/programmes of stakeholder Ministries/Departments such as Sustainable Alternative Towards Affordable Transportation (SATAT) scheme of Ministry of Petroleum and Natural Gas (MoPNG), ‘Waste to Energy’ programme of Ministry of New & Renewable Energy (MNRE), Swachh Bharat Mission (Rural) of Department of Drinking Water & Sanitation (DDWS), etc. with total outlay of Rs. 1451.84 crore (FY 2023-24 to 2025-26), which includes a corpus of Rs. 360 crore for research gap funding, etc.

    This information was given by the Union Minister of State for Chemicals and Fertilizers Smt Anupriya Patel in Rajya Sabha in written reply to a question today.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Customs seizes suspected dangerous drugs worth over $2.8 million (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs seizes suspected dangerous drugs worth over $2.8 million  
    Through risk assessment, Customs on March 11 inspected two air parcels, declared as bottle openers and arriving in Hong Kong from Italy. Upon inspection, Customs officers found that the batch of suspected ketamine was concealed inside 24 packaging boxes of bottle openers.
     
    After a follow-up investigation, Customs officers conducted a controlled delivery operation yesterday in Kwai Chung and arrested a male consignee, aged 31, who was suspected to be connected with the case. Later, Customs further seized about 34g of suspected ketamine and about 8g of suspected methamphetamine from his vehicle and in his possession respectively. 
     
    The arrested person has been charged with two counts of trafficking in a dangerous drug and one count of possession of dangerous drug. He will appear at the West Kowloon Magistrates’ Courts tomorrow (March 19).
     
    Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people, nor to release their personal data or home address to others for receiving parcels or goods.
     
    Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
     
    Customs reminds people to pay attention to the fact that drug trafficking is a serious criminal offence. Criminal conviction will result in grave repercussions for their future and they should not take risks in the hope that they may not be caught.
     
    Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime reporting email account (crimereport@customs.gov.hkIssued at HKT 18:52

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    MIL OSI Asia Pacific News –

  • MIL-OSI: Magnite Successfully Completes Second Term Loan Repricing

    Source: GlobeNewswire (MIL-OSI)

    Reduces Interest Rate by an Additional 75 Basis Points

    Over $2.7 Million in Yearly Interest Payment Savings

    NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) — Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company, today announced the second successful repricing of its $363 million senior secured term loan facility (Term Loan) due February 2031.

    The repricing reduces the interest rate by 75 basis points to Term SOFR + 3.00% from the previous rate of Term SOFR + 3.75% and will result in yearly interest savings of over $2.7 million. The interest rate improvement represents a cumulative reduction of 200 basis points compared to the rate prior to the refinancing of the Term Loan in February of 2024. There are no changes to the maturity of the Term Loan following this repricing, and all other terms are substantially unchanged.

    About Magnite

    We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

    Investor Relations Contact
    Nick Kormeluk
    (949) 500-0003
    nkormeluk@magnite.com

    The MIL Network –

  • MIL-OSI: ACM Research Appoints Charlie Pappis to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., March 18, 2025 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced packaging applications, today announced the appointment of Charlie Pappis to its Board of Directors, effective March 15, 2025. With the addition of Mr. Pappis, ACM’s Board of Directors now comprises five members, further strengthening its leadership and expertise as the company executes its long-term growth strategy.

    “We are thrilled to welcome Mr. Pappis to our Board of Directors,” said Dr. David Wang, President and Chief Executive Officer of ACM. “His deep industry knowledge, proven leadership in scaling global operations, and commitment to customer-driven innovation align perfectly with ACM’s mission to become a key supplier of capital equipment to major global semiconductor companies. His insights will be invaluable as we increase our investments and business expansion in the U.S. to support our growth initiatives to new markets beyond mainland China.”

    Charlie Pappis is a semiconductor industry veteran with more than 40 years of leadership experience in global operations, customer engagement, and business growth. He currently serves as President of Pappis Consulting, advising semiconductor equipment and supply chain companies. Previously, he spent more than 30 years at a major global U.S.-based semiconductor equipment company, where he held key executive level leadership roles. Mr. Pappis holds a Bachelor of Science in Materials Science from Worcester Polytechnic Institute and an Executive MBA from Stanford University.

    About ACM Research, Inc.

    ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.

    © ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.

    For investor and media inquiries, please contact:

    In the United States: The Blueshirt Group
    Steven C. Pelayo, CFA
    +1 (360) 808-5154
    steven@blueshirtgroup.co
       
    In China: The Blueshirt Group Asia
    Gary Dvorchak, CFA
    gary@blueshirtgroup.co

    The MIL Network –

  • MIL-OSI: Waldencast Reports Q4 2024 and Fiscal Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    Q4 Net Revenue of $72.1 million, 29.4% Comparable Net Revenue Growth and $11.2 million of Adjusted EBITDA, doubling from Q4 2023

    FY 2024 Net Revenue of $273.9 million, 27.5% Comparable Net Revenue Growth and $40.3 million of Adjusted EBITDA

    Obagi Medical is the fastest growing professional skincare brand1 in the US in 2024

    Milk Makeup expands its distribution to Ulta Beauty

    Waldencast secures a new $205 million credit facility, replacing the current one, enhancing flexibility and extending debt maturity

    LONDON, March 18, 2025 (GLOBE NEWSWIRE) — Waldencast plc (NASDAQ: WALD) (“Waldencast” or the “Company”), a global multi-brand beauty and wellness platform, today reported operating results for the three months ended December 31, 2024 (“Q4 2024”) and the year ended December 31, 2024 (the “Year Ended 2024”) on Form 6-K to the U.S. Securities and Exchange Commission (the “SEC”), which are also available on our investor relations site at http://ir.waldencast.com/.

    Michel Brousset, Waldencast Founder and CEO, said: “We closed a transformative year for the Group, achieving outstanding growth, expanding our brands’ communities, and making significant progress on our strategic priorities. Our business model is driven by a powerful flywheel effect of growth and profitability. This begins with the unique strength of our brands, which is amplified by our ability to enhance operational efficiency. As a result, we can effectively increase investments in sales and marketing to drive profitable growth. In 2024, we achieved a 27.5% increase in Comparable Net Revenue and a 65.1% rise in Adjusted EBITDA, demonstrating our proven ability to expand gross margins and optimize our cost base as we grow.”

    “Our proven ability to innovate significantly contributed to our brands’ growth. This year, Milk Makeup introduced several exciting new products, including the viral and award-winning Cooling Water Jelly Tint Blush + Lip Stain. Obagi Medical also launched a range of successful innovations aimed at both consumers and the professional skincare medical community, most notably the ELASTIderm Lift Up & Sculpt Facial Moisturizer and Elastiderm Advanced Filler Concentrate.”

    “Building on our momentum, we are excited to announce that Milk Makeup will launch in over 600 Ulta Beauty locations this spring, further highlighting the growing demand for our cult-favorite brand. Additionally, Obagi Medical expanded the Suzan Obagi MD® collection with groundbreaking new products, including the Super Antioxidant Serum and the Moisture Restore Hydration Replenishing Cream.”

    ____________________________________

    1 Among the top 10 brands. Kline & Company. (2024). 2024 Kline Professional Skincare: United States market analysis and opportunities.

    “Overall, we are excited about the year ahead and expect another year of significant milestones toward achieving our ambition to build a global best-in-class beauty and wellness multi-brand platform by creating, acquiring, accelerating, and scaling the next generation of high-growth, purpose-driven brands,” concluded Mr. Brousset.

    Q4 2024 Results Overview

    Please refer to the definitions and reconciliations set out further in this release with respect to certain adjusted non-GAAP measures discussed below which are included to provide an easier understanding of the underlying performance of the business, but should not be seen as a substitute for the U.S. GAAP numbers presented in this release.

    For the three months ended December 31, 2024 compared to the three months ended December 31, 2023:

    Net Revenue increased 30.8% to $72.1 million, a 29.4% increase in Comparable Net Revenue Growth that was attributable to Milk Makeup channel expansion, Obagi Medical accelerated growth in the Physician Dispense channel, and continued success in Obagi Medical e-commerce channels.

    Gross Profit was $49.4 million. Adjusted Gross Profit was $52.6 million, or 73.0% of net revenue, compared to $40.3 million in Q4 2023.

    Net Loss improved from $32.7 million in Q4 2023 to $22.6 million in Q4 2024, driven by operational growth and a reduction in non-recurring costs associated with the restatement and SEC investigation.

    Adjusted EBITDA doubled to $11.2 million (15.5% of net revenue), reflecting a 530 basis point expansion from Q4 2023. This growth was driven by strong top-line performance and operational leverage, as both Obagi Medical and Milk Makeup continued to scale and reinvest in business drivers while maintaining G&A discipline.

    Liquidity: The business maintained strong cash conversion in Q4 2024, driven by effective working capital management and minimal capital expenditure thanks to our asset-light business model. While the Company continues to incur significant non-recurring legal and advisory costs, the level of expenditures has been gradually reducing. As of December 31, 2024, the Company had $14.8 million in cash and cash equivalents and $154.2 million of Net Debt.

    New Credit Facility: Waldencast has entered into a new $205 million five-year credit facility, comprising a $175 million Term Loan and a $30 million RCF, that replaces its existing facility. This agreement supports the Company’s strategic priorities by enhancing financial flexibility and extending its debt maturity profile well ahead of the current facilities expiration in July 2026.

    Outstanding Shares: As of February 28, 2025, we had 122,720,911 ordinary shares outstanding, consisting of 112,054,383 Class A shares and 10,666,528 Class B shares. As of December 31, 2024, we had 122,692,968 ordinary shares outstanding, consisting of 112,026,440 Class A shares and 10,666,528 Class B shares.

    (In $ millions, except for percentages)   Q4 2024   % Sales   % Growth   % Comparable
    Net Revenue
    Growth    		     Q4 2023   % Sales
    Waldencast                          
    Net Revenue   72.1   100.0%   30.8%   29.4%     55.1   100.0%
    Adjusted Gross Profit   52.6   73.0%   30.7%         40.3   73.1%
    Adjusted EBITDA   11.2   15.5%   99.3%         5.6   10.2%
                               
    Obagi Medical                          
    Net Revenue   42.2   100.0%   30.0%   27.7%     32.5   100.0%
    Adjusted Gross Profit   33.2   78.7%   28.0%         26.0   80.0%
    Adjusted EBITDA   9.8   23.3%   23.7%         8.0   24.5%
                               
    Milk Makeup                          
    Net Revenue   29.9   100.0%   31.9%         22.6   100.0%
    Adjusted Gross Profit   19.4   64.9%   35.6%         14.3   63.1%
    Adjusted EBITDA   4.8   16.1%   248.0%         1.4   6.1%
     

    Fourth Quarter 2024 Brand Highlights:

    Obagi Medical:

    • Net Revenue reached $42.2 million, from $32.5 million in Q4 2023 with Comparable Net Revenue Growth of 27.7%.
    • Obagi Medical’s strong net revenue growth continued to be driven by increased brand awareness, stronger selling and marketing investments, and continued innovation. The brand continued expanding its international footprint and growing e-commerce sales through its direct website and the move to a first party model with its main e-commerce distributor, implemented in late 2023, with benefits tapering off by Q1 2025.
    • Notably, Obagi Medical was the fastest-growing professional skin care brand among the top 10 in the US in 20241. This historic achievement underscores the strength of our enhanced go-to-market strategy which successfully balances growth in the Physician Dispense channel, our historic stronghold, with the acceleration of our digital channels.
    • Adjusted Gross Margin of 78.7% contracted 130 basis points from Q4 2023 due to a higher weight of inventory liquidations.
    • Adjusted EBITDA was $9.8 million, an increase of 23.7% from Q4 2023 with an Adjusted EBITDA margin of 23.3%, a decline of 120 basis points from Q4 2023 reflecting the brands continued strategic investment in marketing to drive top-line growth and improved leverage of fixed costs.

    Milk Makeup:

    • Net Revenue reached $29.9 million, up 31.9% from $22.6 million in Q4 2023.
    • Milk Makeup’s Q4 2024 growth reflected the initial shipments to Ulta Beauty in support of the brand’s spring 2025 launch along with increased demand driven by our growing awareness, the continued delivery of sought-after innovation, and international expansion.
    • Adjusted Gross Margin increased by 180 basis points versus Q4 2023, primarily reflecting the positive impact of channel and product mix, as well as margin accretive innovation.
    • Adjusted EBITDA was $4.8 million an increase of $3.4 million from Adjusted EBITDA of $1.4 million in Q4 2023. Adjusted EBITDA Margin improved 1,000 basis points to 16.1% versus 6.1% in Q4 2023 as robust sales growth and gross margin expansion drove significant operational leverage despite increased brand investment.

    Year Ended 2024 Results Overview

    For the year ended December 31, 2024 compared to the year ended December 31, 2023:

    Net Revenue was $273.9 million, a 27.5% increase in Comparable Net Revenue Growth.

    Gross Profit was $191.7 million. Adjusted Gross Profit was $203.6 million, or 74.3% of net revenue, a margin improvement of 530 basis points versus 2023.

    Net Loss was $48.6 million, down from $106.0 million in the Year Ended 2023. The improvement was primarily driven by strong operational growth in the business, a fair value adjustment of the warrants, and reduced non-recurring costs.

    Adjusted EBITDA was $40.3 million, an Adjusted EBITDA Margin of 14.7%, compared to 11.2% in the Year Ended 2023.

    Fiscal 2025 Outlook:

    We expect to deliver mid-teens Net Revenue growth and further expansion of Adjusted EBITDA Margin into the mid-to-high teens.

    Net revenue growth is expected to accelerate throughout the year, starting with relatively flat growth in Q1 due to the anniversary of the highly successful Milk Makeup “Jellies” launch from Q1 2024, as well as inventory adjustment in some of our retail partners.

    Growth is expected to accelerate progressively in the following quarters, driven by our innovation pipeline and the continued expansion of our distribution footprint in the U.S. and internationally, including the launch of Milk Makeup at Ulta Beauty in March 2025.

    Year Ended 2024 Highlights

    (In $ millions, except for percentages)   Year
    Ended
    2024    		   % Sales   % Growth   % Comparable
    Net Revenue
    Growth    		     Year
    Ended
    2023    		   % Sales
    Waldencast                          
    Net Revenue   273.9   100.0%   25.5%   27.5%     218.1   100.0%
    Adjusted Gross Profit   203.6   74.3%   35.3%         150.4   69.0%
    Adjusted EBITDA   40.3   14.7%   65.1%         24.4   11.2%
                               
    Obagi Medical                          
    Net Revenue   149.3   100.0%   26.9%   30.7%     117.7   100.0%
    Adjusted Gross Profit   118.6   79.4%   41.6%         83.7   71.2%
    Adjusted EBITDA   30.5   20.4%   46.4%         20.8   17.7%
                               
    Milk Makeup                          
    Net Revenue   124.6   100.0%   24.0%         100.5   100.0%
    Adjusted Gross Profit   85.0   68.2%   27.4%         66.7   66.4%
    Adjusted EBITDA   29.1   23.3%   58.0%         18.4   18.3%
     

    Conference Call and Webcast Information

    Waldencast will host a conference call to discuss its year-end and fourth quarter results on Wednesday, March 19, 2025, at 8:30 AM EDT for the period ended December 31, 2024. Those interested in participating in the conference call are invited to dial (877) 704-4453. International callers may dial (201) 389-0920. A live webcast of the conference call will include a slide presentation and will be available online at https://ir.waldencast.com/. A replay of the webcast will remain available on the website until our next conference call. The information accessible on, or through, our website is not incorporated by reference into this release.

    Non-GAAP Financial Measures

    In addition to the financial measures presented in this release in accordance with U.S. GAAP, Waldencast separately reports financial results on the basis of the measures set out and defined below which are non-GAAP financial measures. Waldencast believes the non-GAAP measures used in this release provide useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations. Waldencast believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures also provide perspective on how Waldencast’s management evaluates and monitors the performance of the business.

    There are limitations to non-GAAP financial measures because they exclude charges and credits that are required to be included in GAAP financial presentation. The items excluded from GAAP financial measures such as net income/loss to arrive at non-GAAP financial measures are significant components for understanding and assessing our financial performance. Non-GAAP financial measures should be considered together with, and not alternatives to, financial measures prepared in accordance with GAAP.

    Please refer to definitions set out in the release and the tables included in this release for a reconciliation of these metrics to the most directly comparable GAAP financial measures.

    Comparable Net Revenue is defined as Net Revenue excluding sales related to the former Obagi Medical China business (the “Obagi Medical China Business”), which was not acquired by Waldencast at the time of the business combination with Obagi Medical and Milk Makeup (the “Business Combination”) as was presented in previous earnings releases. The sales to the Obagi Medical China Business have a below market sales price for a defined period of time after the acquisition of Obagi Medical pursuant to the Business Combination. As a result of the Business Combination, a below market contract liability was recognized and is amortized based on sales. This adjustment is shown in the Adjusted EBITDA and Adjusted Gross Profit reconciliations. Management of the Company believes that this non-GAAP measure provides perspective on how Waldencast’s management evaluates and monitors the performance of the business. See reconciliation to U.S. GAAP Net Revenue in the Appendix.

    Comparable Net Revenue Growth is defined as the growth in Comparable Net Revenue period over period expressed as a percentage.

    Adjusted Gross Profit is defined as GAAP gross profit excluding the impact of inventory fair value adjustments, amortization of the supply agreement and formulation intangible assets, discontinued product write-off, and the amortization of the fair value of the related party liability from the Obagi Medical China Business. The Adjusted Gross Profit reconciliation by Segment for each period is included in the Appendix.

    Adjusted Gross Margin is defined as Adjusted Gross Profit divided by GAAP Net Revenue.

    Adjusted EBITDA is defined as GAAP net income (loss) before interest income or expense, income tax (benefit) expense, depreciation and amortization, and further adjusted for the items as described in the reconciliation below. We believe this information will be useful for investors to facilitate comparisons of our operating performance and better identify trends in our business. Adjusted EBITDA excludes certain expenses that are required to be presented in accordance with GAAP because management believes they are non-core to our regular business. These include non-cash expenses, such as depreciation and amortization, stock-based compensation, inventory fair value adjustments, the amortization and release of fair value of the related party liability to the Obagi Medical China Business, change in fair value of financial instruments, loss on impairment of goodwill and leases, and foreign currency translation loss (gain). In addition, adjustments include expenses that are not related to our underlying business performance including (1) legal, advisory and consultant fees related to the financial restatement of previously issued financial statements and associated regulatory investigation, and the Business Combination; (2) costs to recover and the value of the inventory recovered from the acquisition of the SA distributor, and the associated discontinued products; and (3) other non-recurring costs, primarily legal settlement costs and restructuring costs. The Adjusted EBITDA by Segment for each period is included in the Appendix.

    Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of net revenue. The Adjusted EBITDA Margin reconciliation by Segment for each period is included in the Appendix.

    (In thousands, except for percentages)   Three
    Months
    Ended
    December 31,
    2024    		   Three
    Months
    Ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Loss   $ (22,597 )   $ (32,731 )   $ (48,648 )   $ (105,968 )
    Adjusted For:                
    Depreciation and amortization     15,013       14,863       60,015       60,498  
    Interest expense, net     4,088       4,276       17,155       18,888  
    Income tax expense (benefit)     4,113       (976 )     110       (6,975 )
    Stock-based compensation expense     2,993       1,677       9,392       9,235  
    Legal and advisory non-recurring costs(1)     3,029       12,949       21,493       32,783  
    Change in fair value of warrants and interest rate collar     443       2,473       (23,679 )     10,443  
    Amortization and release of related party liability(2)     (4,169 )     —       (5,678 )     (4,058 )
    Loss on impairment of goodwill     5,031       —       5,031       —  
    Other costs(3)     3,241       3,083       5,093       9,549  
    Adjusted EBITDA   $ 11,185     $ 5,613     $ 40,284     $ 24,395  
    Net Revenue   $ 72,083     $ 55,117     $ 273,868     $ 218,138  
    Net Loss % of Net Revenue     (31.3 )%     (59.4 )%     (17.8 )%     (48.6 )%
    Adjusted EBITDA Margin     15.5 %     10.2 %     14.7 %     11.2 %
     
    (1) Includes mainly legal, advisory and consultant fees related to the financial restatement 2020-2022 periods and associated regulatory investigation, and the Business Combination.
    (2) Relates to the fair value of the related party liability for the unfavorable discount to the Obagi Medical China Business as part of the Business Combination.
    (3) Other costs include legal settlements, foreign currency translation losses, product discontinuation costs related to advanced purchases for the SA Distributor, the write-down and subsequent recovery of inventory from the SA Distributor, restructuring costs, amortization of the fair value step-up as a result of the business combination, lease impairments, restructuring and contract termination fees.
       

    Net Debt Position is defined as the principal outstanding for the 2022 Term Loan and 2022 Revolving Credit Facility minus the cash and cash equivalents as of December 31, 2024.

    (In thousands)   Reconciliation of
    Net Carrying
    Amount of debt to
    Net Debt
    Current portion of long-term debt   $ 29,479  
    Long-term debt     137,137  
    Net carrying amount of debt     166,616  
    Adjustments:    
    Add: Unamortized debt issuance costs     2,339  
    Less: Cash & cash equivalents     (14,802 )
    Net Debt   $ 154,153  
             

    About Waldencast plc

    Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. The first step in realizing its vision was the Business Combination. As part of the Waldencast platform, its brands will benefit from the operational scale of a multi-brand platform; the expertise in managing global beauty brands at scale; a balanced portfolio to mitigate category fluctuations; asset light efficiency; and the market responsiveness and speed of entrepreneurial indie brands. For more information please visit: https://ir.waldencast.com.

    Obagi Medical is an industry-leading, advanced skin care line rooted in research and skin biology, refined with a legacy of over 35 years’ experience. First known as leaders in the treatment of hyperpigmentation with the Obagi Nu-Derm® System, Obagi Medical products are designed to address the appearance of premature aging, photodamage, skin discoloration, acne, and sun damage. More information about Obagi Medical is available on the brand’s website at www.obagi.com.

    Founded in 2016, Milk Makeup quickly became a cult-favorite among the beauty community for its values of self-expression and inclusion, captured by its signature “Live Your Look”, its innovative formulas, and clean ingredients. The brand creates vegan, cruelty-free, clean formulas and has its Milk Makeup HQ in Downtown NYC. Currently, Milk Makeup offers over 250 products through its U.S. website www.MilkMakeup.com, and retail partners including Sephora globally, Ulta Beauty in the U.S., Lyko in Scandinavia, Space NK and Boots in the United Kingdom and many more.

    Cautionary Statement Regarding Forward-Looking Statements

    All statements in this release that are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about: Waldencast’s outlook and guidance for 2025; our ability to deliver financial results in line with expectations; expectations regarding sales, earnings or other future financial performance and liquidity or other performance measures; our long-term strategy and future operations or operating results; expectations with respect to our industry and the markets in which it operates; future product introductions; developments relating to the ongoing investigation and legal proceedings; and any assumptions underlying any of the foregoing. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements.

    These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements, including, among others: (i) the impact of the material weaknesses in our internal control over financial reporting, including associated investigations, our efforts to remediate such material weakness and the timing of remediation and resolution of associated investigations; (ii) our ability to recognize the anticipated benefits from any acquired business, including the Business Combination; (iii) our ability to successfully implement our management’s plans and strategies; (iv) the overall economic and market conditions, sales forecasts and other information about our possible or assumed future results of operations or our performance; (v) the general impact of geopolitical events, including the impact of current wars, conflicts or other hostilities; (vi) the potential for delisting, legal proceedings or existing or new government investigation or enforcement actions, including those relating to the restatement or the subject of the Audit Committee of our Board of Directors’ review further described in our annual report filed on Form 20-F for the year ended December 31, 2022, (vii) our ability to manage expenses, our liquidity and our investments in working capital; (viii) any failure to obtain governmental and regulatory approvals related to our business and products; (ix) the impact of any international trade or foreign exchange restrictions, increased tariffs, foreign currency exchange fluctuations; (x) our ability to raise additional capital or complete desired acquisitions; (xi) our ability to comply with financial covenants imposed by the new 2025 credit agreement we entered into referenced in the section entitled “New Credit Facility” above and the impact of debt service obligations and restricted debt covenants; (xii) volatility of Waldencast’s securities due to a variety of factors, including Waldencast’s inability to implement its business plans or meet or exceed its financial projections and changes; (xiii) the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; (xiv) the ability of Waldencast to implement its strategic initiatives and continue to innovate Obagi Medical’s and Milk Makeup’s existing products and anticipate and respond to market trends and changes in consumer preferences, (xv) any shifts in the preferences of consumers as to where and how they shop; (xvi) the impact of any unfavorable publicity on our business or products; (xvii) changes in future exchange or interest rates or credit ratings; (xviii) changes in, and uncertainty with respect to, laws, regulations, and policies, including as a result of the change in the U.S. administration; and (xix) social, political and economic conditions. These and other risks, assumptions and uncertainties are more fully described in the Risk Factors section of our 2023 20-F (File No. 01-40207), filed with the SEC on April 30, 2024, and in our other documents that we file or furnish with the SEC, which you are encouraged to read.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to rely on these forward-looking statements, which speak only as of the date they are made. Waldencast expressly disclaims any current intention, and assumes no duty, to update publicly any forward-looking statement after the distribution of this release, whether as a result of new information, future events, changes in assumptions or otherwise.

    Contacts:

    Investors
    ICR
    Allison Malkin
    waldencastir@icrinc.com

    Media
    ICR
    Brittney Fraser/Alecia Pulman
    waldencast@icrinc.com

    Appendix

    Comparable Net Revenue Growth

        Group   Obagi Medical
    (In thousands, except for percentages)   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023    		   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Revenue   $ 72,083     $ 55,117   $ 273,868     $ 218,138   $ 42,211     $ 32,470   $ 149,266     $ 117,651
    Obagi Medical China Business     735       —     2,804       5,619     735       —     2,804       5,619
    Comparable Net Revenue   $ 71,348     $ 55,117   $ 271,064     $ 212,519   $ 41,476     $ 32,470   $ 146,462     $ 112,032
    Comparable Growth     29.4 %         27.5 %         27.7 %         30.7 %    
                                                     

    Adjusted Gross Profit

        Group
    (In thousands, except for percentages)   Three months
    ended
    December 31,
    2024    		   Three months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Revenue   $ 72,083     $ 55,117     $ 273,868     $ 218,138  
    Gross Profit     49,450       37,476       191,744       141,577  
    Gross Profit Margin     68.6 %     68.0 %     70.0 %     64.9 %
    Gross Margin Adjustments:                
    Amortization of the fair value of the related party liability(1)     (750 )     —       (2,260 )     (4,058 )
    Amortization of the inventory fair value adjustment(2)     —       —       —       1,691  
    Discontinued product write-off(3)     1,139       —       2,864       —  
    Amortization impact of intangible assets(4)     2,801       2,801       11,205       11,205  
    Adjusted Gross Profit   $ 52,639     $ 40,277     $ 203,553     $ 150,415  
    Adjusted Gross Margin %     73.0 %     73.1 %     74.3 %     69.0 %
                                     

     

    (1) Relates to the fair value of the related party liability for the unfavorable discount to the Obagi Medical China Business as part of the Business Combination.
    (2) Relates to the amortization of the inventory fair value step-up as a result of the Business Combination.
    (3) Relates to the advance purchase of specific products for the market in Vietnam sold through the SA Distributor that became obsolete when the distribution contract was terminated.
    (4) The Supply Agreement and Formulations intangible assets are amortized to cost of goods sold.
       
        Obagi Medical   Milk Makeup
    (In thousands, except for percentages)   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023    		   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Revenue   $ 42,211     $ 32,470     $ 149,266     $ 117,651     $ 29,872     $ 22,647     $ 124,602     $ 100,487  
    Gross Profit     30,050       23,175       106,760       76,582       19,395       14,301       84,984       64,995  
    Gross Profit Margin     71.2 %     71.4 %     71.5 %     65.1 %     64.9 %     63.1 %     68.2 %     64.7 %
    Gross Margin Adjustments:                                
    Amortization of the fair value of the related party liability     (750 )     —       (2,260 )     (4,058 )     —       —       —       —  
    Amortization of the inventory fair value adjustment     —       —       —       —       —       —       —       1,691  
    Discontinued product write-off     1,139       —       2,864       —       —       —       —       —  
    Amortization impact of intangible assets     2,801       2,801       11,205       11,205       —       —       —       —  
    Adjusted Gross Profit   $ 33,239     $ 25,976     $ 118,569     $ 83,729     $ 19,395     $ 14,301     $ 84,984     $ 66,686  
    Adjusted Gross Margin %     78.7 %     80.0 %     79.4 %     71.2 %     64.9 %     63.1 %     68.2 %     66.4 %
                                                                     

    Adjusted EBITDA Margin by Segment

        Obagi Medical   Milk Makeup
    (In thousands, except for percentages)   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023    		   Three
    months
    ended
    December 31,
    2024    		   Three
    months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Loss   $ (12,114 )   $ (8,305 )   $ (31,524 )   $ (32,214 )   $ 230     $ (3,959 )   $ 8,803     $ (5,655 )
    Adjusted For:                                
    Depreciation and amortization     10,397       10,425       41,591       41,984       4,616       4,457       18,424       18,514  
    Interest expense, net     3,068       3,341       12,391       12,644       (3 )     4       (1 )     590  
    Income tax expense (benefit)     3,933       (990 )     (141 )     (6,997 )     25       9       32       10  
    Stock-based compensation expense     465       (317 )     (328 )     726       (338 )     444       1,167       2,352  
    Legal and advisory non-recurring costs     1,061       1,119       5,054       1,702       —       —       —       27  
    Amortization and release of related party liability     (4,169 )     —       (5,678 )     (4,058 )     —       —       —       —  
    Loss on impairment of goodwill     5,031       —       5,031       —       —       —       —       —  
    Other costs     2,166       2,682       4,120       7,027       285       428       639       2,566  
    Adjusted EBITDA   $ 9,838     $ 7,956     $ 30,516     $ 20,814     $ 4,814     $ 1,383     $ 29,064     $ 18,404  
    Net Revenue   $ 42,211     $ 32,470     $ 149,266     $ 117,651     $ 29,872     $ 22,647     $ 124,602     $ 100,487  
    Net Loss % of Net Revenue     (28.7 )%     (25.6 )%     (21.1 )%     (27.4 )%     0.8 %     (17.5 )%     7.1 %     (5.6 )%
    Adjusted EBITDA Margin     23.3 %     24.5 %     20.4 %     17.7 %     16.1 %     6.1 %     23.3 %     18.3 %
                                                                     
        Central costs
    (In thousands, except for percentages)   Three months
    ended
    December 31,
    2024    		   Three months
    ended
    December 31,
    2023    		   Year ended
    December 31,
    2024    		   Year ended
    December 31,
    2023
    Net Loss   $ (10,714 )   $ (20,467 )   $ (25,927 )   $ (68,099 )
    Adjusted For:                
    Depreciation and amortization     —       (20 )     —       —  
    Interest expense, net     1,024       931       4,765       5,654  
    Income tax expense     155       4       219       12  
    Stock-based compensation expense     2,866       1,549       8,553       6,157  
    Legal and advisory non-recurring costs     1,968       11,830       16,439       31,054  
    Change in fair value of warrants and interest rate collar     443       2,473       (23,679 )     10,443  
    Other costs     789       (26 )     334       (44 )
    Adjusted EBITDA   $ (3,468 )   $ (3,727 )   $ (19,296 )   $ (14,823 )
    Net Revenue   $ —     $ —     $ —     $ —  
    Net Loss % of Net Revenue     N/A       N/A       N/A       N/A  
    Adjusted EBITDA Margin     N/A       N/A       N/A       N/A  

    The MIL Network –

  • MIL-OSI Asia-Pac: INITIATIVES UNDERTAKEN TO PROMOTE ORGANIC FARMING

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:08PM by PIB Delhi

    Government is promoting organic farming through the schemes of Paramparagat Krishi Vikas Yojana (PKVY) in all the States/UTs and Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) scheme is being implemented. Both the schemes stress on end-to-end support to farmers engaged in organic farming i.e. from production to post-harvest management training and capacity building. The main focus of the PKVY and MOVCDNER schemes is to promote natural resource based integrated and climate resilient sustainable farming systems that ensure maintenance and increase of soil fertility, natural  resource conservation, on-farm nutrient recycling and minimize dependence of farmers on external inputs.

    So far, 59.74 lakh ha area has been covered under organic farming since 2015-16. The State wise details of area covered under organic farming National Programme for Organic Production (NPOP) (including MOVCDNER) + Participatory Guarantee System (PGS) under PKVY till 2023-2024 is given at Annexure-I.

    Under PKVY scheme, States/UTs are provided financial assistance of Rs. 31,500/ha in total in 3 years in the organic clusters out of which, Rs. 15,000/ha is provided directly to farmers through DBT for on-farm and off-farm organic inputs, Rs. 4,500/ha for marketing, packaging, branding, value addition etc., Rs. 3,000/ha for certification and residue analysis and Rs. 9,000/ha for training and capacity building. Under MOVCDNER scheme, assistance of Rs. 46,500/ha in total in 3 years is provided for creation of Farmers Producer Organizations, support to farmers for organic inputs etc. Out of this, assistance @ Rs. 32,500/ ha is provided to farmers for off -farm /on –farm organic inputs including Rs. 15,000 as Direct Benefit Transfer to the farmers. Farmers can avail assistance for maximum 2ha area under both the schemes.

    Two types of organic certifications systems have been developed to ensure quality control of organic produce as given below:

    • Third Party Certification by Accredited Certification Agency under NPOP scheme under Ministry of Commerce and Industry for development of export market.
    • PGS-India under Ministry of Agriculture and farmers Welfare involves stakeholders (including farmers/ producers) in decision making about the operation of the PGS-India certification by assessing, inspecting and verifying the production practices of each other.

    Under PKVY scheme assistance @ Rs 4,500/ha is provided in total in 3 years to facilitate value addition, marketing and publicity. Assistance is provided for certification & training and handholding & capacity building @ Rs 3.000/-ha for 3 years and Rs 7,500/- ha respectively for 3 years under PKVY for farmers. Whereas under MOVCDNER scheme assistance is provided @ Rs10,000/ -ha in total in 3 years for training, capacity building & certification.

    To ensure market availability States organize seminars, conferences, workshops, buyer-seller meetings, exhibitions, trade fairs, and organic festivals either within their own region or in key markets of other states.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR

    Annexure – I

    State wise details of total cumulative area covered under organic farming NPOP (including MOVCDNER) + PGS under PKVY till 2023-2024

    Area in ha

    S. NO.

    State Name

    NPOP

    PGS under PKVY

    1

    Andhra Pradesh

    63,678.69

    3,60,805

    2

    Bihar

    29,062.13

    31,783

    3

    Chhattisgarh

    15,144.13

    1,01,279

    4

    Goa

    12,287.40

    15334

    5

    Gujarat

    6,80,819.99

    10000

    6

    Haryana

    2,925.33

    –

    7

    Himachal Pradesh

    9,334.28

    18748

    8

    Jharkhand

    54,408.20

    25300

    9

    Kerala

    44,263.91

    94480

    10

    Karnataka

    71,085.99

    20900

    11

    Madhya Pradesh

    11,48,236.07

    74960

    12

    Maharashtra

    10,01,080.32

    66756

    13

    Odisha

    1,81,022.28

    45800

    14

    Punjab

    11,089.41

    6981

    15

    Tamil Nadu

    42,758.27

    32940

    16

    Telangana

    84,865.16

    8100

    17

    Rajasthan

    5,80,092.22

    148500

    18

    Uttar Pradesh

    66,391.34

    171185

    19

    Uttarakhand

    1,01,820.39

    140740

    20

    West Bengal

    8,117.80

    21400

    21

    Assam

    27,079.40

    4400

    22

    Arunachal Pradesh

    16,537.53

    380

    23

    Meghalaya

    29,703.30

    900

    24

    Manipur

    32,584.50

    600

    25

    Mizoram

    14,238.30

    780

    26

    Nagaland

    16,221.56

    480

    27

    Sikkim

    75,729.78

    63000

    28

    Tripura

    20,481.36

    1000

    29

    Jammu & Kashmir

    34,746.75

    5160

    30

    Pondicherry

    21.51

    –

    31

    Delhi

    9.60

    –

    32

    Ladakh

    –

    10480

    33

    Daman & Diew

    –

    642

    34

    Dadar & Nagar Haveli

    –

    500

    35

    Andaman & Nicobar

    –

    14491

    Total

    44,75,836.90

    14,98,804

    Grand Total (NPOP + PGS)

    59,74,640.90

    Source: APEDA + PGS

    *******

    (Release ID: 2112405) Visitor Counter : 56

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: NEW RESEARCH INITIATIVES BY ICAR-NIPHM

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:07PM by PIB Delhi

    National Institute of Plant Health Management(NIPHM) an autonomous organization under Department of Agriculture and Farmers Welfare is undertaking various research initiative or technologies for improvement of Plant Protection Technology, Plant quarantine and Bio-security with special emphasis on crop-oriented Integrated Pest Management approaches for enhancing our country’s agricultural production namely validation of the protocols for the analysis of quality parameters of formulation (i) Humic acid, Fulvic acid and their derivatives and (ii) Mixed Formulations of biostimulants, Project on Biological Control of two Crop Pests (ICAR-AICRP-BC), Biodiversity of natural enemies in maize ecosystem and evaluation of NIPHM white media for the production of Nomuraea rileyi (Metarhizium rileyi) for management of Maize Fall Army Worm (Spodoptra frugiperda), Development of eco-friendly integrated stored grain pest management techniques for bulk grain storage in FCI godowns, Survey and field evaluation of Sterile Insect Technique for the management of Oriental fruit fly, Bactrocera dorsalis (Diptera: Tephritidae) infesting economically important fruit crops.

    Further, NIPHM is promoting the sustainable and organic farming practices by organizing capacity building programs for officers and farmers of different states on various Plant protection related subjects namely training and demonstration of bioinputs under Soil and Root Health Management scheme to promote bio inputs, promotion of bio inputs, sustainable Plant health management etc. So far NIPHM has not entered into any formal collaboration with International agricultural research institute.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR

    (Release ID: 2112403) Visitor Counter : 15

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MITIGATING THE IMPACT OF EXTREME CLIMATE

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:06PM by PIB Delhi

    As per the National Policy on Disaster Management (NPDM), the primary responsibility for disaster management, including disbursal of relief assistance on ground level, rests with the State Governments concerned. The State Governments undertake relief measures in the wake of natural calamities, from the State Disaster Response Fund (SDRF) already placed at their disposal, in accordance with Government of India’s approved items and norms. The Central Government supplements the efforts of the State Governments and provides requisite logistics and financial support. Additional financial assistance is provided from the National Disaster Response Fund (NDRF), as per laid down procedure, in case of disaster of ‘severe nature’, which includes an assessment based on the visit of an Inter-Ministerial Central Team (IMCT).

    Further, Pradhan Mantri Fasal Bima Yojana (PMFBY) along with weather index based Restructured Weather Based Crop Insurance Scheme (RWBCIS) provide a comprehensive insurance cover against failure of the crop to farmers suffering crop loss/damage arising out of unforeseen natural calamities.

    The PMFBY/RWBCIS scheme is being implemented on Area Approach basis and claims are worked out as per designated formula based on the season end yield data submitted by the concerned State Government irrespective of reasons of crop loss/ claims. Claims are required to be paid within 21 Days from calculation of claims on NCIP irrespective of whether Insurance Companies have raised the demand for 2nd or final tranche of premium subsidy and whether the verification and Quality Check has been completed by Insurance Companies. Failing which, penalty shall be auto calculated and levied as per relevant provisions through NCIP.

    Per Drop More Crop (PDMC) scheme improves water use efficiency through Micro Irrigation technologies i.e. drip and sprinkler irrigation systems. Rainfed Area Development (RAD) scheme focuses on Integrated Farming System (IFS) for enhancing productivity and minimizing risks associated with climatic variability. Under RAD, crops/ cropping system is integrated with activities like horticulture, livestock, fishery, agro-forestry, apiculture etc. to enable farmers, not only in maximizing farm returns for sustaining livelihood but also to mitigate the impacts of drought, flood or other extreme weather events.  Mission for Integrated Development of Horticulture (MIDH), Agroforestry & National Bamboo Mission also aim to increase climate resilience in agriculture.

    The Government has set up National Action Plan on Climate Change (NAPCC) in 2008, which provide an overarching policy framework for climate action in the country. The NAPCC outlines a national strategy to enable the country to adapt to climate change and enhance ecological sustainability. One of the National Missions under NAPCC is the National Mission for Sustainable Agriculture (NMSA) which evolves and implements strategies to make agriculture more resilient to the changing climate.

    The Indian Council of Agricultural Research (ICAR) has launched a flagship network project namely National Innovations in Climate Resilient Agriculture (NICRA). The project conducts studies on the impact of climate change on agriculture including crops, livestock, horticulture and fisheries and also develops and promotes climate resilient technologies in agriculture for vulnerable areas of the country. The outputs of the project help the regions to cope with extreme weather conditions like droughts, floods, frost, heat waves, etc. During last 10 years (2014-2024), a total of 2593 varieties have been released by ICAR, out of these 2177 varieties have been found tolerant to one or more biotic and/or abiotic stresses. Risk and vulnerability assessment of agriculture to climate change has been carried out at district-level for 651 predominantly agricultural districts as per Intergovernmental Panel on Climate Change (IPCC) protocols. Out of 310 districts identified as vulnerable, 109 districts have been categorized as ‘very high’ and 201 districts as ‘highly vulnerable. District Agriculture Contingency Plans (DACPs) for these 651 districts have also been prepared to address weather aberrations and recommending location specific climate resilient crops and varieties and management practices for use by the State Departments of Agriculture. For enhancing the resilience and adaptive capacity of farmers to climate variability, the Concept of “Climate Resilient Villages” (CRVs) has been initiated under NICRA. Location-specific climate resilient technologies have been demonstrated in 448 CRVs of 151 climatically vulnerable districts covering 28 states/UTs for adoption by farmers. ICAR through its NICRA project, creates awareness about impact of climate change in agriculture among farmers. Capacity building programmes are being conducted to educate the farmers on various aspects of climate change for wider adoption of climate resilient technologies.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR

    (Release ID: 2112402) Visitor Counter : 23

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: DRIP AND SPRINKLER IRRIGATION THROUGH PMKSY

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:05PM by PIB Delhi

    Centrally Sponsored Scheme of Per Drop More Crop (PDMC) Scheme is being implemented since 2015-16.  The Scheme focuses on enhancing water use efficiency at farm level through Micro Irrigation, namely, drip and sprinkler irrigation systems.  From 2015-16 to 2021-22, the Scheme was implemented as a component of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY). From 2022-23, the scheme is being implemented under Pradhan Mantri Rashtriya Krishi Vikas Yojana (PMRKVY).

    From 2015-16 till date, 96.97 lakh ha has been covered under micro irrigation through PDMC scheme, which includes 46.37 lakh ha under drip irrigation and 50.60 lakh ha under sprinkler irrigation.

    Under PDMC Scheme, financial assistance is provided to farmers for installation of micro irrigation systems @ 55% and 45% of the unit cost to small &  marginal farmers and other farmers respectively.

    NITI Aayog conducted an evaluation study of PDMC scheme in the year 2020. The study revealed that the scheme is relevant in achieving national priorities such as improving on-farm water use efficiency, enhancing crop productivity, generating employment opportunities, overall income enhancement of farmers etc. 

    Central Assistance of Rs. 5711.55 crore has been released/sanctioned till date under PMRKVY to the States during current financial year, which includes Rs. 2232.30 crore for PDMC scheme.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR

    (Release ID: 2112401) Visitor Counter : 25

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: INELIGIBLE BENEFICIARIES RECEIVING FUNDS UNDER PM-KISAN

    Source: Government of India (2)

    Ministry of Agriculture & Farmers Welfare

    INELIGIBLE BENEFICIARIES RECEIVING FUNDS UNDER PM-KISAN

    Posted On: 18 MAR 2025 6:04PM by PIB Delhi

    The PM-KISAN scheme is a central sector scheme launched in February 2019 by the Hon’ble Prime Minister to supplement the financial needs of cultivable land-holding farmers. Under the scheme, a financial benefit of Rs 6,000/- per year is transferred in three equal instalments, into the Aadhaar seeded bank accounts of farmers through Direct Benefit Transfer (DBT) mode. Maintaining absolute transparency in registering and verifying beneficiaries, the Government of India has disbursed over Rs 3.68 lakh Cr. through 19 installments since inception. Instalment-wise details is annexed.

    Benefits of the scheme are transferred to the beneficiaries through Direct Benefit Transfer (DBT) mode, based on the verified data received from the States/UTs on the PM-KISAN portal. In order to ensure that benefits are released only to the eligible beneficiaries, land seeding, Aadhaar based payment and eKYC have been made mandatory. The benefits of the farmers, who did not complete these mandatory criteria, were stopped. As and when these farmers complete their mandatory requirements, they will receive the benefits of the scheme along with their due installments, if any. Further, States/UTs are mandated to recover any amount transferred to ineligible farmers marked due to higher income groups such as income tax payees, employees of PSUs, State/Central Govt., Constitutional post holders etc. An amount of Rs. 416 Cr. has been recovered from the ineligible beneficiaries so far across the country. 

    Several technological interventions have been introduced under PM-KISAN to improve transparency and efficiency in fund disbursement. A dedicated PM-KISAN portal and mobile app were developed, offering services like self-registration, benefit status tracking, and facial authentication-based e-KYC introduced in June 2023. Farmers in remote areas can complete e-KYC via face scans, with provisions to assist neighbours. Over 5 lakh Common Service Centres (CSCs) have been onboarded to facilitate registrations and meet mandatory requirements. Land seeding, Aadhaar-based payments, and e-KYC were progressively made mandatory from the 12th to the 15th instalment. Additionally, a robust grievance redressal system was established on the portal, and an AI chatbot, Kisan-eMitra, launched in September 2023, provides instant query resolution in local languages regarding payments, registration, and eligibility.

    The Ministry often undertakes saturation drives in coordination with State Governments to ensure that no eligible farmers are left out from the Scheme. The major nationwide saturation drives conducted since 15th November 2023 have resulted in the addition of over 1.5 crore new eligible farmers under the scheme.

    As per International Food Policy Research Institute (IFPRI) study conducted in 2019, funds disbursed under the PM-KISAN have acted as a catalyst in rural economic growth, aided in alleviating the credit constraints of farmers, and increased investments in agricultural inputs. Further, the scheme has enhanced farmers’ risk-taking capacity, leading them to undertake riskier but comparatively productive investments. The funds received by recipients under PM-KISAN are not only helping them with their agricultural needs, but it is also catering to their other incidental expenses such as education, medical, marriage, etc. These are the indicators of the positive impact of the scheme on the farmers of the country. PM KISAN has truly been a game changer for the farming community of our country.

    The Government is continuously working towards ensuring comprehensive support for farmers by integrating various welfare schemes. PM-Kisan provides direct income support to eligible farmers, and efforts have been made to create synergies with other schemes such as Kisan Credit Card (KCC) for easy access to credit.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

    ******

     MG/KSR

    Annexure

    Installment-wise details of beneficiaries and amount released under PM-Kisan Scheme

    Instalment No.

    Instalment period

    Number of beneficiaries

    Disbursed amount (In Cr.)

    1

    December, 2018 – March, 2019

    3,16,21,382

    6,324.28

    2

    April, 2019 – July, 2019

    6,00,34,808

    13,272.00

    3

    August, 2019 – November,  2019

    7,65,99,962

    17,526.92

    4

    December, 2019 – March,  2020

    8,20,91,433

    17,942.95

    5

    April, 2020 – July, 2020

    9,26,93,902

    20,989.46

    6

    August, 2020 – November,  2020

    9,72,27,173

    20,476.24

    7

    December, 2020 – March, 2021

    9,84,75,226

    20,474.95

    8

    April, 2021 – July, 2021

    9,99,15,224

    22,415.06

    9

    August, 2021- November, 2021

    10,34,45,600

    22,395.43

    10

    December, 2021- March,  2022

    10,41,67,787

    22,343.30

    11

    April, 2022 – July, 2022

    10,48,43,465

    22,617.98

    12

    August, 2022 – November, 2022

    8,57,37,576

    18,041.35

    13

    December, 2022 – March,  2023

    8,12,37,172

    17,650.07

    14

    April, 2023 – July, 2023

    8,56,78,805

    19,203.74

    15

    August, 2023 – November,  2023

    8,12,16,535

    19,596.74

    16

    December, 2023 – March,  2024

    9,04,30,715

    23,088.88

    17

    April, 2024 – July, 2024

    9,38,01,342

    21,056.75

    18

    August, 2024 – November,  2024

    9,59,26,746

    20,665.51

    19

    December, 2024 – March, 2025

    9,88,42,900

    22,270.45

    ******

    (Release ID: 2112399)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: STUBBLE BURNING

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:02PM by PIB Delhi

    Department of Agriculture and Farmers Welfare (DA&FW)  is primarily supporting the efforts of States of Punjab, Haryana, Uttar Pradesh and NCT of Delhi for combating paddy stubble burning under the Crop Residue Management Scheme being implemented from 2018-19, focusing on both in-situ and ex-situ management of paddy straw.

    Under this scheme, financial assistance @ 50% of the cost of machine is provided to the farmers for purchase of crop residue management machinery and @ 80% for the projects costing up to Rs. 30 lakhs is provided to Rural Entrepreneurs (Rural youth & Farmer as an entrepreneur), Cooperative Societies of farmers, Registered Farmers Societies, Farmers Producer Organization (FPOs) and Panchayats for establishment of Custom Hiring Centres (CHCs) of crop residue management machines. The scheme promotes the usage of machines and equipments such as Super Straw Management System, Happy Seeder, Super Seeder, Smart Seeder, Surface Seeder, Zero Till Seed cum Fertilizer Drill etc. for in-situ management of crop residue and Balers & Straw Rakes for collection of straw for further ex-situ utilization.

    With a view to enable efficient ex-situ management of paddy straw generated in these States, provisions have been made to establish projects for paddy straw supply chain with financial assistance @ 65% on the capital cost of machinery costing up to Rs. 1.50 crores. The intervention aims at establishing a robust supply chain of paddy straw for various end user industries in biomass power generation and biofuel sectors.

    Under this scheme, during the period from 2018-19 to 2024-25 (as on 28 February 2025), an amount of Rs. 3698.45 Crore have been released to these States and Indian Council of Agricultural Research (ICAR).  The States have established more than 41,900 CHCs of crop residue management machines and more than 3.23 lakh crop residue management machines have been supplied to these CHCs and individual farmers of these States.     

    As per the reports released by the Consortium for Research on Agroecosystem Monitoring and Modeling from Space (CREAMS) Laboratory, Division of Agricultural Physics, ICAR – Indian Agricultural Research Institute, New Delhi, the paddy straw burning events between 15th September to 30th November during the last year in the States of Punjab, Haryana and Uttar Pradesh were 42962, which have been reduced to 18457 events during 2024 for the same period, which indicates 57 percent reduction in paddy straw burning over the last year.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

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     MG/KSR

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  • MIL-OSI Asia-Pac: SCHEMES FOR AGRI RELATED TOURISM ACTIVITIES

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:01PM by PIB Delhi

    Department of Agriculture & Farmers Welfare does not have any ‘Scheme for Agri Related Tourism Activities’.  However, Development and promotion of tourist destinations and products, including rural tourism is undertaken by the respective State Government/Union Territory (UT) Administration.  The Ministry of Tourism through its central sector schemes of ‘Swadesh Darshan (SD)’, ‘Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD)’ and ‘Assistance to Central Agencies for Tourism Infrastructure Development’ complements the efforts of tourism infrastructure development in the country by extending financial assistance to the State Governments/UT Administrations. Rural Circuit has been identified as one of the thematic circuits under Swadesh Darshan Scheme.

    Ministry of Tourism has revamped the Swadesh Darshan Scheme as Swadesh Darshan 2.0 (SD 2.0) with the objective to develop sustainable and responsible tourism destinations, following a destination & tourist-centric approach.

    Ministry of Tourism has also formulated national strategies for development of rural tourism and promotion of rural homestays in India.”

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

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     MG/KSR

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  • MIL-OSI Asia-Pac: OPERATIONAL GUIDELINES OF PMFBY

    Source: Government of India (2)

    Posted On: 18 MAR 2025 6:00PM by PIB Delhi

    All the major work like selection of insurance model, selection of Insurance Companies through transparent bidding process, enrollment of farmers, assessment of crop yield/crop loss for calculation of admissible claims are being performed by the concerned State Government or Joint Committee of State Government officials and concerned insurance company.   Further, all the data relating to payment of claims was available with the States/UTs, therefore, they were advised to impose penalties on insurance companies themselves.  The roles and responsibilities of each stakeholder are defined in the Operational Guidelines of the scheme for the proper execution of the scheme. 

    Majority of the claims are settled  within the stipulated timelines under the Operational Guidelines of the scheme by the insurance companies.  However, during the implementation of PMFBY, some complaints were received in the past about non-payment, delayed payment or under payment of claims on account of incorrect/delayed submission of insurance proposals by banks; discrepancy in yield data & consequent disputes between State Government and insurance companies,  delay in providing State Government share of funds, non-deployment of sufficient personnel by insurance companies etc.,  which were suitably addressed as per provisions of the scheme.

    In order to rigorously monitor claim disbursal process, a dedicated module namely ‘Digiclaim Module’ has been operationalized for payment of claims from Kharif 2022 onwards. This modules gives GOI visibility of claims payable, claims paid and pending. This is used for monitoring of claims, which was not possible earlier.  It involves integration of National Crop Insurance Portal (NCIP) with Public Finance Management System (PFMS) and accounting system of Insurance Companies to provide timely & transparent processing of all claims.  W.e.f. Kharif 2024, in case payment is not made timely by Insurance Company, penalty of 12% is auto-calculated and levied through NCIP.   This is the first season for implementation of auto calculated penalty on NCIP and Department is taking all necessary steps for its enforcement.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Ramnath Thakur in a written reply in Lok Sabha today.

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     MG/KSR

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