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Category: Asia

  • MIL-OSI Global: Russia’s shrinking world: The war in Ukraine and Moscow’s global reach

    Source: The Conversation – USA – By Ronald H. Linden, Professor Emeritus of Political Science, University of Pittsburgh

    Russia President Vladimir Putin sent a guarded message of congratulations to Donald Trump on inauguration day, but then held a long direct call with his “dear friend,” Chinese leader Xi Jinping.

    From Putin’s perspective, this makes sense. Russia gets billions of dollars from energy sales to China and technology from Beijing, but from Washington, until recently, mostly sanctions and suspicion.

    Moscow is hoping for a more positive relationship with the current White House occupant, who has made his desire for a “deal” to end the Ukraine war well known.

    But talk of exit scenarios from this 3-year-old conflict should not mask the fact that since the invasion began, Putin has overseen one of the worst periods in Russian foreign policy since the end of the Cold War.

    Transatlantic unity

    The war in Ukraine has foreclosed on options and blunted Russian action around the world.

    Unlike the annexation of Crimea in 2014, the 2022 invasion produced an unprecedented level of transatlantic unity, including the expansion of NATO and sanctions on Russian trade and finance. In the past year, both the U.S. and the European Union expanded their sanction packages.

    And for the first time, the EU banned the re-export of Russian liquefied natural gas and ended support for a Russian LNG project in the Arctic.

    EU-Russian trade, including European imports of energy, has dropped to a fraction of what it was before the war.

    The two Nordstrom pipelines, designed to bring Russian gas to Germany without transiting East Europe, lie crippled and unused. Revenues from energy sales are roughly one-half of what they were two years ago.

    At the same time, the West has sent billions in military and humanitarian aid to Ukraine, enabling a level of resilience for which Russia was unprepared. Meanwhile, global companies and technical experts and intellectuals have fled Russia in droves.

    While Russia has evaded some restrictions with its “shadow fleet” – an aging group of tankers sailing under various administrative and technical evasions – the country’s main savior is now China. Trade between China and Russia has grown by nearly two-thirds since the end of 2021, and the U.S. cites Beijing as the main source of Russia’s “dual use” and other technologies needed to pursue its war.

    Since the start of the war in Ukraine, Russia has moved from an energy-for-manufactured-goods trade relationship with the West to one of vassalage with China, as one Russia analyst termed it.

    Hosting an October meeting of the BRICS countries – now counting 11 members, including the five original members: Brazil, Russia, India, China and South America – is unlikely to compensate for geopolitical losses elsewhere.

    Russian President Vladimir Putin and China President Xi Jinping toast their friendship in March 2023.
    Pavel Byrkin/AFP via Getty Images

    Problems at home …

    The Russian economy is deeply distorted by increased military spending, which represents 40% of the budget and 25% of all spending. The government now needs the equivalent of US$20 billion annually in order to pay for new recruits.

    Russian leaders must find a way to keep at least some of the population satisfied, but persistent inflation and reserve currency shortages flowing directly from the war have made this task more difficult.

    On the battlefield, the war itself has killed or wounded more than 600,000 Russian soldiers. Operations during 2024 were particularly deadly, producing more than 1,500 Russian casualties a day.

    The leader who expected Kyiv’s capitulation in days now finds Russian territory around Kursk occupied, its naval forces in the Black Sea destroyed and withdrawn, and its own generals assassinated in Moscow.

    But probably the greatest humiliation is that this putative great power with a population of 144 million must resort to importing North Korean troops to help liberate its own land.

    … and in its backyard

    Moscow’s dedication to the war has affected its ability to influence events elsewhere, even in its own neighborhood.

    In the Caucasus, for example, Russia had long sided with Armenia in its running battle with Azerbaijan over boundaries and population after the collapse of the Soviet Union.

    Moscow has brokered ceasefires at various points. But intermittent attacks and territorial gains for Azerbaijan continued despite the presence of some 2,000 Russian peacekeepers sent to protect the remaining Armenian population in parts of the disputed territory of Nagorno-Karabakh.

    In September 2023, Azerbaijan’s forces abruptly took control of the rest of Nagorno-Karabakh. More than 100,000 Armenians fled in the largest ethnic cleansing episode since the end of the Balkan Wars. The peacekeepers did not intervene and later withdrew. The Russian military, absorbed in the bloody campaigns in Ukraine, could not back up or reinforce them.

    The Azeris’ diplomatic and economic position has gained in recent years, aided by demand for its gas as a substitute for Russia’s and support from NATO member Turkey.

    Feeling betrayed by Russia, the Armenian government has for the first time extended feelers toward the West — which is happy to entertain such overtures.

    Losing influence and friends

    Russia’s loss in the Caucasus has been dwarfed by the damage to its military position and influence in the Middle East. Russia supported the Syrian regime of Bashar al-Assad against the uprisings of the Arab Spring in 2011 and saved it with direct military intervention beginning in 2015.

    Yet in December 2024, Assad was unexpectedly swept away by a mélange of rebel groups. The refuge extended to Assad by Moscow was the most it could provide with the war in Ukraine having drained Russia’s capacity to do more.

    Russia’s possible withdrawal from the Syrian naval base at Tartus and the airbase at Khmeimim would remove assets that allowed it to cooperate with Iran, its key strategic partner in the region.

    More recently, Russia’s reliability as an ally and reputation as an armory has been damaged by Israeli attacks not only on Hezbollah and other Iranian-backed forces in Lebanon and Syria, but on Iran itself.

    Russia’s position in Africa would also be damaged by the loss of the Syrian bases, which are key launch points for extending Russian power, and by Moscow’s evident inability to make a difference on the ground across the Sahel region in north-central Africa.

    Dirty tricks, diminishing returns

    Stalemate in Ukraine and Russian strategic losses in Syria and elsewhere have prompted Moscow to rely increasingly on a variety of other means to try to gain influence.

    Disinformation, election meddling and varied threats are not new and are part of Russia’s actions in Ukraine. But recent efforts in East Europe have not been very productive. Massive Russian funding and propaganda in Romania, for example, helped produce a narrow victory for an anti-NATO presidential candidate in December 2024, but the Romanian government moved quickly to expose these actions and the election was annulled.

    Nearby Moldova has long been subject to Russian propaganda and threats, especially during recent presidential elections and a referendum on stipulating a “European course” in the constitution. The tiny country moved to reduce its dependency on Russian gas but remains territorially fragmented by the breakaway region of Transnistria that, until recently, provided most of the country’s electricity.

    Despite these factors, the results were not what Moscow wanted. In both votes, a European direction was favored by the electorate. When the Transnistrian legislature in February 2024 appealed to Moscow for protection, none was forthcoming.

    When Moldova thumbs its nose at you, it’s fair to say your power ranking has fallen.

    Wounded but still dangerous

    Not all recent developments have been negative for Moscow. State control of the economy has allowed for rapid rebuilding of a depleted military and support for its technology industry in the short term. With Chinese help and evasion of sanctions, sufficient machinery and energy allow the war in Ukraine to continue.

    And the inauguration of Donald Trump is likely to favor Putin, despite some mixed signals. The U.S. president has threatened tariffs and more sanctions but also disbanded a Biden-era task force aimed a punishing Russian oligarchs who help Russia evade sanctions. In the White House now is someone who has openly admired Putin, expressed skepticism over U.S. support for Ukraine and rushed to bully America’s closest allies in Latin America, Canada and Europe.

    Most importantly, Trump’s eagerness to make good on his pledge to end the war may provide the Russian leader with a deal he can call a “victory.”

    The shrinking of Russia’s world has not necessarily made Russia less dangerous; it could be quite the opposite. Some Kremlin watchers argue that a more economically isolated Russia is less vulnerable to American economic pressure. A retreating Russia and an embattled Putin could also opt for even more reckless threats and actions – for example, on nuclear weapons – especially if reversing course in Ukraine would jeopardize his position. It is, after all, Putin’s war.

    All observers would be wise to note that the famous dictum “Russia is never as strong as she looks … nor as weak as she looks” has been ominously rephrased by Putin himself: “Russia was never so strong as it wants to be and never so weak as it is thought to be.”

    Ronald H. Linden has in the past received funding from Fulbright, DAAD, German Marshall Fund, National Council for Eurasian and East European Research, Woodrow Wilson Center, US Institute of Peace.

    – ref. Russia’s shrinking world: The war in Ukraine and Moscow’s global reach – https://theconversation.com/russias-shrinking-world-the-war-in-ukraine-and-moscows-global-reach-247754

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to Liberia: Ameer Kotecha

    Source: United Kingdom – Executive Government & Departments

    Mr Ameer Kotecha has been appointed His Majesty’s Ambassador to the Republic of Liberia.

    Mr Ameer Kotecha has been appointed His Majesty’s Ambassador to the Republic of Liberia in succession to Mr Neil Bradley who will be transferring to another Diplomatic Service appointment.  Mr Kotecha will take up his appointment during April 2025.

    Curriculum vitae         

    Full name: Ameer Kotecha

    Year Role
    2023 to present  Ekaterinburg, HM Consul General
    2022 to 2023 FCDO, Full time language training (Russian)
    2021 to 2022  FCDO, Head of Engagement and Programmes Team, Counter Daesh Communications Cell
    2020 to 2021 Hong Kong, Vice Consul
    2018 to 2020  FCO, Senior Desk Officer, West Africa Department
    2017 to 2018  New York, Second Secretary Africa and Peacekeeping
    2016 to 2017 FCO, Kidnaps and Incidents Case Manager, Counter Terrorism Department
    2015 to 2016  FCO, Deputy Head Libya Team, North Africa Joint Unit
    2015  Joined FCO
    2013 to 2015 Financial Analyst, AgDevCo

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

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

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: The iconic Austin 7 is back

    Source: Anglia Ruskin University

    By Tom Stacey, Anglia Ruskin University

    In perhaps one of the greatest brand comeback stories in automotive since the Fiat 500 in 2007, British car company Austin announced the return of the Austin Arrow.

    Its name is an unashamed reference to one of the most memorable Austin 7 models – first introduced in the 1920s the Arrow was the original “everyman sportscar”, before the muscle cars (think of the Dodge Challenger) of the US became popular in the 1960s. Now reimagined as an electric Vehicle (EV), the Arrow is designed and made in the UK and aims to be to 2020s consumers what the original was 90 years ago.

    A number of cars are synonymous with the British car industry. In fact, as a small nation, Britain punches above its weight when it comes to classic automobile brands – The Mini, the Range Rover, London black cabs, James Bond’s Aston Martins, and even the London red bus. However, if one car can be credited for creating the dawn of the motor vehicle in the UK, it would be the diminutive Austin 7.

    The car was created in the 1920s at the time when Austin was struggling. New laws were pushing manufacturers to produce smaller, less powerful cars. But Austin’s board of directors didn’t support a cheap, small car with low profit margins. Austin was known for its larger, luxury products.

    However, Sir Herbert Austin and his 18-year-old apprentice Stanley Edge decided to secretly create a small car. Thank god they didn’t heed the board, because they ended up creating the greatest democratising automotive product Britain had ever seen (until they repeated it with the Austin Mini).

    The reason why products such as the Austin 7 come to define their period is rarely due to their technical prowess or exhilarating performance – it’s because they bring to the masses a technology that is both useful and traditionally seen as out of reach.

    The Austin 7 was a bit like the iPhone. There were smartphones that came before it, like the Sony Ericsson p800. However, these were considered expensive and out of reach for the average consumer. The Iphone did the same thing but at a cheaper price and so came to be the definitive smartphone.

    With the Austin 7, Herbert Austin’s team applied the key lessons from Ford’s Model T – creating a simple, modestly powered car with just enough features for mass appeal while incorporating clever design elements that earned the respect of car enthusiasts.

    When the Austin 7 was unveiled in July 1922, it was priced at just £165, when an Austin 20 was between £600 and £700. At a time when the average British worker earned around £5 per week, the only real affordable car had been Ford’s basic and utilitarian Model T at around £250.

    The 7’s ingenious design was the key to its success. With a shared base frame for the car, it could be a four-seater family car, a stylish coupe, or even a racing car.

    This cheap, tiny car not only was a legend in its own right and familiar around the world, but it influenced other legends too.

    Colin Chapman, the founder of Lotus Cars, based his first Lotus 1 on the Austin 7. What is less known is that German car manufacturer BMW built Austin 7s under licence in the 1920s and 30s but called them “Dixis”. Nissan did the same in Japan in the pre-war period. Such licensing deals helped set up both manufacturers’ future success as the powerhouses they are today.

    Austin 7s were produced all over Europe, Asia and even in Australia. The 7 was also produced in the US as the “American Bantam” and its design contributed to the “Willy’s Jeep”, one of the US’s most famous vehicles.

    Ultimately, the beginning of the second world war marked the end of Austin 7 production as the Austin factory at Longbridge, near Birmingham, needed to be repurposed to produce munitions. When the war ended, tastes for vehicles had changed and factories started to produce more modern designs, and not those from the 1920s, marking the end of a British automotive icon in 1939.

    Now it’s back, thanks to the engineer John Stubbs who bought the Austin brand after noticing the brand and trademarks were available. The rights to these had been owned by the Nanjing Automobile Group, which bought MG Rover when it collapsed in 2005. However, Nanjing had let these lapse and Stubbs bought them for £170 in 2015.

    The new Essex-based Austin Motor Company aims to recreate this classic brand, tugging at the heartstrings of those looking nostalgically at Britain’s automotive heyday. The announcement featured images of fun, cheap (£31,000) and light cars driving around the B-roads of Britain, or perhaps being taken to a racetrack for an amateur competition, harking back to earlier days. However, this car is thoroughly modern, featuring an electric motor.

    The new Austin Arrow is not meant to be the usable “everyman” car the original 7 was. For starters, to be compliant with quadricycle (a micro car with less than 6kW of power and an unladen mass no more than 425 kg) legislation it is limited to 60mph as a top speed and the range will be a maximum of 100 miles on one charge.

    However, as that fun, racy, open-top car that it’s predecessors were, it very much captures the spirit of the original Austin 7 Arrow.

    Tom Stacey, Deputy Head of the School of Economics, Finance and Law, Anglia Ruskin University

    This article is republished from The Conversation under a Creative Commons license. Read the original article.

    The opinions expressed in VIEWPOINT articles are those of the author(s) and do not necessarily reflect the views of ARU.

    If you wish to republish this article, please follow these guidelines: https://theconversation.com/uk/republishing-guidelines

    MIL OSI United Kingdom –

  • MIL-OSI: BRKZ closes $17M Series A to transform construction procurement as Saudi Arabia’s $3T project pipeline accelerates

    Source: GlobeNewswire (MIL-OSI)

    Riyadh, Feb. 10, 2025 (GLOBE NEWSWIRE) — While the MENA region drives forward with $3 trillion in infrastructure and building projects, construction companies face a critical challenge: fragmented supply chains and inefficient procurement processes that delay projects and inflate costs. Today, BRKZ announced it has completed its Series A funding at $17M, bringing total funding to $22.5M, to scale its technology platform that’s revolutionizing how contractors source and purchase building materials.

    The funding includes an $8M Series A2 round closed in January 2025, complemented by $1M in venture debt from Capifly, following the initial $8M Series A1 round from December 2023. All existing investors strongly recommitted, including BECO Capital, Aramco’s Waed, 9900 Capital, Better Tomorrow Ventures, RZM Investment, Class 5 Global, MISY Ventures, Knollwood Investment Advisory, and Fluent Ventures.

    Founded in 2023 by Ibrahim Manna, serial entrepreneur and former Managing Director at Careem, BRKZ emerged from firsthand experience with construction industry inefficiencies. “Traditional procurement in construction is highly fragmented and manual, often requiring contractors to juggle multiple suppliers, long negotiations, and delayed payments,” said Ibrahim Manna, Founder and CEO of BRKZ. “This funding will help us double down on tech development, enhance our BNPL offering aligned with construction cash flow cycles, and expand into cross-border trading.”

    The BRKZ team.

    Unlike traditional procurement methods, BRKZ’s platform combines a tech-enabled marketplace with embedded financing solutions, transforming how contractors and suppliers interact. Through its digital platform, contractors can access over 7,000 SKUs from more than 1,100 local suppliers, receiving competitive quotes within 20 minutes. The platform’s built-in financing options align with construction cash flow cycles, addressing a critical pain point in the industry.

    The platform’s rapid adoption validates its approach. Since launching its Series A1, BRKZ has grown revenue fourfold during 2024, now serving more than 850 unique contractors and factories across flagship projects like King Salman Park, Neom, and Red Sea. The company has expanded its delivery network to over 40 cities across Saudi Arabia, with offices in three major regions, while processing $350m (SAR 1.3 billion) in RFQs through its platform.

    BRKZ marketplace and app.

    Real-world applications demonstrate the platform’s transformative impact. A contractor working in KSA’s central region, awarded a project in the Western Region, used BRKZ to price and procure materials from local suppliers despite having no team in the project location. Similarly, a local cement block factory broke traditional geographical constraints by listing on BRKZ, expanding its customer base while sourcing raw materials through the platform.

    AbdulRauf H. Al-Matar, AGM at AlRashed Building Materials commented: “Partnering with BRKZ has revolutionized how we connect with contractors and streamline our operations. Their innovative approach to digitizing the construction industry is setting a new standard for efficiency and growth.”

    Tamer Salah, CEO at AlMimar AlAraby for General Contracting added: “Working with BRKZ has been a game-changer for us. Their focus on understanding contractors’ needs and delivering tailored solutions has made it easier to meet tight deadlines and exceed customer expectations. BRKZ’s highly advanced technology provides the best e-commerce platform, which makes it easy to manage my orders and get automated updates on their status.”

    The construction market in MENA represents a massive opportunity, driven by mega-projects reshaping the region. Major developments like Neom, The Red Sea Project, King Salman Park, and upcoming events like Expo 2030 and FIFA World Cup in Saudi Arabia underscore the urgent need for innovative, tech-driven solutions to streamline procurement and enhance efficiency.

    Dany Farha, co-founder and managing partner at BECO Capital, commented: “The construction industry is foundational to the Kingdom’s Vision 2030, and is ripe for technology and organizational optimization. The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we’re excited to continue supporting them in their next chapter. BRKZ’s financing product will complement their digitized procurement platform and address customer cash flow challenges. Having known Ibrahim and the team for years, we’ve seen firsthand their agility, prudence, and unique skill set that enable them to fulfill their promise of digitizing this industry.”

    Looking ahead, BRKZ plans to establish offices in Saudi Arabia’s Northern and Southern regions during 2025 while expanding its supplier network into global markets, focusing on China and India. The company will continue enhancing its technology platform and financing solutions, positioning itself as the comprehensive solution for construction procurement in the MENA region.

    Ends 

    Media images can be found here.

    About BRKZ

    BRKZ is a B2B managed marketplace transforming construction procurement in Saudi Arabia. By connecting contractors with suppliers through a tech-enabled platform, BRKZ provides access to thousands of SKUs, competitive pricing, and tailored financing solutions. With a focus on efficiency and transparency, BRKZ empowers MENA’s construction sector to meet the ambitious goals. For more information please visit https://brkz.com/en 

    About BECO Capital

    BECO Capital is the largest non-government venture capital firm in the Gulf, managing over $500 million in AUM. Since its inception in 2012, BECO Capital has played a pivotal role in developing the regional tech ecosystem, helping it grow from its nascent stages to its current dynamism, and has been a notable investor behind many of the region’s success stories. These include Careem, the region’s ride-hailing service turned super-app, acquired by Uber for $3.1 billion, and Property Finder, the real estate marketplace that BECO exited at a $1 billion valuation in April 2024, alongside other prominent startups such as Kitopi and Fresha.

    The MIL Network –

  • MIL-OSI: ASM named in CDP’s ‘A List’ for climate and water

    Source: GlobeNewswire (MIL-OSI)

    Almere, the Netherlands
    February 10, 2025

    ASM has been awarded CDP’s prestigious ‘A List’ ranking for both climate and water reporting, recognizing its corporate sustainability leadership, performance, and transparency.

    This is the first time ASM has achieved A List status with the global environmental non-profit, CDP, the organization that runs the world’s most recognized environmental disclosure system and sets the standard for environmental reporting. From over 22,000 annual reporting submissions this year, CDP has awarded its highest A List ranking to only a select group of companies demonstrating the strongest sustainability leadership.

    ASM is among very few companies in the semiconductor industry to score an A in CDP’s 2024 assessment, with even fewer reaching the A List for both climate and water. This marks a significant milestone in our sustainability journey and is a testament to our continued commitment to environmental progress.

    ASM has been reporting into CDP for thirteen consecutive years, consistently strengthening our environmental strategy and performance. In 2024, we reached 100% renewable electricity across our global operations, reinforcing our commitment to sustainable business practices.

    Inclusion in CDP’s prestigious A List highlights the strides we have made in reducing our operational carbon footprint and exemplifies our focus on meaningful climate action. In addition to decarbonizing our own operations, we are investing in research and development to enhance the energy efficiency of our deposition equipment, enabling our customers to reduce their energy consumption while maintaining high-performance production capabilities. This ensures our technologies contribute to lower emissions in semiconductor manufacturing and the broader tech ecosystem.

    In 2021, ASM published an ambitious target of reaching net zero by 2035. In 2023, ASM’s net zero target was approved by the Science Based Targets Initiative (SBTi), a first in the semiconductor industry. ASM’s Climate Transition Plan, released in early 2024, details how we target to achieve this goal by decarbonizing our products, optimizing our operations, and collaborating with our value chain to drive sustainability improvements to ensure ASM remains at the forefront of sustainable innovation.

    As ASM expands, we are focused on achieving green standards such as LEED building certification, which rates buildings for energy efficiency and sustainability across multiple environmental aspects. Our new facility in Scottsdale, Arizona, which is currently in design, aims to reuse more than 80% of the water it consumes, significantly reducing ASM’s water footprint and supporting circular resource use.

    John Golightly, ASM VP of Sustainability remarked: “We are honored to receive this recognition for our efforts in climate and water. CDP’s A List is the gold standard for environmental reporting, so our inclusion for the first time is a proud moment, for our company and everyone who worked so hard on our sustainability journey. Our resolute focus on transparently reporting our progress has led us to this point and we will continue to push the boundaries of sustainable semiconductor manufacturing, with cutting-edge innovation and collaborative partnerships to create a greener, more resilient future. Accelerating Sustainability is a strategic objective at ASM for good reason. We believe our products and operations enable positive impact for society and our planet.” 

    About ASM International

    ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International’s common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM’s website at www.asm.com.

    Contact

    Investor and media relations

    Victor Bareño
    T: +31 88 100 8500
    E: investor.relations@asm.com

    		  

    Investor relations

    Valentina Fantigrossi
    T: +31 88 100 8502
    E: investor.relations@asm.com

    The MIL Network –

  • MIL-OSI Global: How the war in Ukraine has made flying worse for the climate

    Source: The Conversation – UK – By Viktoriia Ivannikova, Assistant Professor in Aviation Management, Dublin City University

    UladzimirZuyeu/Shutterstock

    Some long-haul flights connecting Europe and Asia are emitting 40% more CO₂ since the Russian invasion of Ukraine in February 2022, my new study shows. The spike is largely due to airspace closures above conflict zones which are forcing airlines to seek alternative routes, significantly increasing flight times. Longer flights consume more fuel and increase the operating costs for airlines, quite apart from their contribution to climate change.

    The research I led with colleagues highlights how conflicts contribute to climate change in unexpected ways. Understanding this is crucial for tackling aviation’s environmental footprint.

    The war in Ukraine closed the country’s airspace and limited access to the airspace of the Russian Federation and Belarus. This amounts to the biggest closure of airspace since the cold war, spanning 18 million km².

    Airlines that previously flew in Russian or Ukrainian airspace on routes between Europe and Asia, North America and Asia, and North America and the Middle East now take significant detours. For example, Finnair’s flight AY73 from Helsinki to Tokyo now covers an additional 3,131 kilometres, extending flight times by up to 3.5 hours. North American flights to Asia have been rerouted over the Arctic and Central Asia.

    Safety concerns and geopolitical sanctions have forced airlines to carefully navigate around restricted zones.

    The situation is further complicated by restrictions in other conflict regions – including the Middle East, where the airspaces of Syria, Yemen and Iraq are also considered no-fly zones for many airlines. The global aviation map has been redrawn, forcing airlines to adapt quickly to a new and challenging reality.

    Several international flights now skirt war zones.
    Viktoriia Ivannikova

    This has been accompanied by significant costs, both financially and to the climate. We analysed 14 long-haul routes between Europe and Asia that were affected by airspace restrictions and operated by three European airlines: Finnair, LOT Polish and Lufthansa.

    The findings are striking: rerouted flights burn an additional 23 to 28.5 tonnes of fuel per journey, releasing an extra 72 to 90 metric tonnes of CO₂. That’s equivalent to the annual emissions of several cars for a single flight.

    Airlines have also reported significant operating cost increases due to the extra flight hours, including higher fuel consumption, air navigation charges and crew salary increases. Our analysis showed that on certain routes between Europe and Asia, costs have risen by between 19% and 39%, while emissions have increased by between 18% and 40%, depending on the airline.

    On routes from Warsaw to Beijing, Warsaw to Tokyo and Warsaw to Seoul, LOT Polish Airlines has reported an increase of 23% in average aircraft operating costs following flight restrictions. CO₂ emissions on these routes have increased by 24% and ticket prices have also risen.

    Finnair, which historically relied on Russian airspace for efficient Europe-Asia connections, appears to be the most affected carrier. Following flight restrictions, aircraft operating costs on the routes from Helsinki to Shanghai, Helsinki to Tokyo and Helsinki to Seoul have risen by 39%, while average CO₂ emissions on these routes have increased by 40%.

    Our findings shed new light on the massive carbon footprint of war, which is often overlooked in climate policy. Using a forecasting model with specialised software, we found that continued avoidance of the airspaces of Russia and Ukraine could increase all aviation-related CO₂ emissions globally by up to 29% in 2025, compared with 2022.

    Aviation already accounts for 2.5% of global CO₂ emissions, and this figure is expected to grow as air travel expands.

    Aeroplanes seed heat-trapping clouds that amplify their climate impact.
    Peter Gudella/Shutterstock

    Our findings demonstrate that the need to decarbonise transport cannot be separated from broader geopolitical issues. As wars and conflicts reshape airspace availability, they also worsen aviation’s carbon footprint. It’s not just the airline industry that bears these costs – we all do, in the form of rising temperatures and a changing climate.

    What action needs to be taken?

    While the challenges are significant, there are solutions.

    Upgrading airline fleets with more fuel-efficient aircraft, such as the Airbus A350 and Boeing 787, can help to reduce CO₂ emissions by roughly 20%–25% compared with older aircraft models, such as the Boeing 777-200ER or Airbus A330-200.

    Optimising flight paths using advanced air traffic management systems could help too. These systems, allow aircraft to choose the shortest and most efficient paths and can reduce unnecessary detours.

    International agreements to manage airspace collectively during times of conflict can keep essential flight corridors open and ensure airlines avoid inefficient rerouting.

    Airlines are investing in sustainable aviation fuels, which emits less than traditional kerosene – but insufficient supplies, high costs and other challenges make this an expensive and partial solution. With no viable low-carbon alternatives for aircraft, reducing air travel should be the priority.

    As researchers, we see our findings as a call to action. By understanding the environmental consequences of conflict, we can work towards a more sustainable future for aviation and the planet.

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

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

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

    – ref. How the war in Ukraine has made flying worse for the climate – https://theconversation.com/how-the-war-in-ukraine-has-made-flying-worse-for-the-climate-249039

    MIL OSI – Global Reports –

  • MIL-OSI China: New freight train route links China’s Chongqing with Afghanistan

    Source: China State Council Information Office

    A freight train, loaded with communication equipment and other products, departed from southwest China’s Chongqing Municipality on Monday and is expected to arrive in Afghanistan in 12 to 15 days.

    This marked the inauguration of a new direct freight train route, which passes through Kazakhstan, Uzbekistan and other countries, between Chongqing and Afghanistan.

    The communication equipment aboard the train, manufactured by Chinese telecom firm ZTE, will be used in the development of local communication networks in Afghanistan.

    “Via direct freight train services, the transportation duration has been reduced by three to five days compared to previous road transport, and logistics costs are expected to be cut back by 15 to 20 percent,” said Liu Jianfeng with ZTE.

    “The successful launch of the direct freight train from Chongqing to Afghanistan marks another effort in deepening our economic and trade cooperation with Central Asian countries,” said Xu Runqiu, an executive at the Yuxin’ou (Chongqing) supply chain management company.

    In recent years, Chongqing has been striving to elevate itself into a comprehensive inland hub, with the number of China-Europe freight trains and those heading to Central Asian countries departing from the city, along with cargo volumes, growing.

    To date, more than 18,000 trains covering over 50 regular routes linking the city with European and Central Asian countries have been dispatched, reaching over 100 hub cities and regions across Asia and Europe.

    In March 2011, the China-Europe freight train (Yuxin’ou) service was launched from Chongqing to Duisburg, establishing a direct overland trade corridor between China and Europe.

    MIL OSI China News –

  • MIL-OSI Europe: ASIA/MYANMAR – A Catholic church hit by bombing in Chin State

    Source: Agenzia Fides – MIL OSI

    diocese of Mindat

    Mindat (Agenzia Fides) – The Myanmar army has carried out air strikes that have seriously damaged the Catholic church of the Sacred Heart of Jesus in Mindat, in the state of Chin, in the northwest of the country. This church had recently been chosen as the cathedral of the diocese of Mindat, erected on January 25 by Pope Francis, separating the territory from the diocese of Hakha.According to local sources of Fides, in recent months Mindat has been the scene of clashes between the Chinland Defence Force (CDF) and the Myanmar army. The CDF, which emerged in opposition to the military junta, managed to take control of the territory and, in January, officially declared the area as “liberated”. In several border regions, these militias have allied themselves with ethnic armed groups that have been fighting for greater autonomy for decades.The bombing of the cathedral took place on February 6, but news of it has only just come to light. Several bombs hit the building, damaging the roof and stained glass windows, rendering it unusable. No injuries were reported, as priests and faithful had left the area due to insecurity and fighting. In recent days, local priests had carried out inspections of the church to plan for upcoming liturgical celebrations, including the consecration of the newly appointed bishop, Father Augustine Thang Zawm Hung, until now parish vicar of the Sacred Heart in Mindat. The attack has caused consternation among the faithful, although the community has expressed its determination to repair the church. “We are very sad that our church has been hit by the bombs. It is a wound in our heart. But we will not let ourselves be defeated. We will rebuild it,” said the local priest, Fr. Paulinus. “We are certain that the Lord will ‘bombard’ us with his grace and blessing: this will bring peace and prosperity to our people.” The diocese of Mindat, located in the south of Chin State, has a population of about 360,000 inhabitants, of whom about 15,000 are Catholics, in a region that is predominantly Christian of other denominations. The diocese has 23 parishes, 48 diocesan priests, three religious men, 21 nuns, as well as 40 minor seminarians and seven major seminarians. As the faithful of Chin face these difficult times, in the archdiocese of Yangon a special jubilee pilgrimage was held on February 9 to the Marian shrine of Nyaungbelin, in the Bago region, on the occasion of the feast of Our Lady of Lourdes. More than 3,000 people took part in the pilgrimage, praying for peace and entrusting themselves to the Virgin Mary.“Bishops, priests, religious and Catholic faithful, together with Buddhists, Muslims and Hindus, have prayed to Our Lady of Lourdes for peace in Myanmar and in the world,” said a statement from the diocese. (PA) (Agenzia Fides, 10/2/2025)
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    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: 2.2k basic housing views received

    Source: Hong Kong Information Services

    The Housing Bureau said today that it had received nearly 2,200 submissions of views in its stakeholder consultation on the proposed regulatory regime for Basic Housing Units (BHUs).

    Since the establishment of the Task Force on Tackling the Issue of Subdivided Units in October 2023 until the end of the consultation period, the Government organised and joined nearly 40 engagement sessions, meeting nearly 700 participants and gathering views from political parties, academics, professional bodies, non-governmental organisations, estate agents, the renovation services industry, contractors associations as well as concern groups on tackling the subdivided unit (SDU) issue and the BHU regulatory regime.

    In addition to extending gratitude to stakeholders for their active expression of views on the regulatory regime, the Government said it is glad that different sectors of society generally support the proposed framework of the BHU regulatory regime while giving suggestions on the execution details.

    The Housing Bureau stressed that it will work at full steam to consolidate the views received, report a summary of views to the Legislative Council Panel on Housing, and seek the panel’s views on the latest proposal on the regulatory regime as soon as possible.

    Subsequently, the bureau will introduce a bill into LegCo and strive for passage within this year, it added.

    Upon completion of the legislative process, registration for pre-existing SDUs under rental will commence, with applications for recognition as BHUs to be accepted concurrently. A grace period will be granted to SDU landlords that have been successfully registered, so that they have reasonable time to discuss tenancy agreements with their tenants and to convert their SDUs to up-to-standard BHUs.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Secretary-General of ASEAN receives Minister of Foreign Affairs of the Republic of Uzbekistan

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this afternoon welcomed Minister of Foreign Affairs of the Republic of Uzbekistan Bakhtiyor Saidov at the ASEAN Headquarters/ASEAN Secretariat. In the meeting, they discussed and explored possible ASEAN-Uzbekistan cooperation in areas of mutual interest.

    The post Secretary-General of ASEAN receives Minister of Foreign Affairs of the Republic of Uzbekistan appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI: GCM Grosvenor Reports Fourth Quarter and Full Year 2024 Earnings Results, with 2024 Fundraising Increasing 41%, and Year-to-Date GAAP Net Income, Fee-Related Earnings and Adjusted Net Income Increasing 46%, 19% and 36%, Respectively, Year-Over-Year

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 10, 2025 (GLOBE NEWSWIRE) — GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider, today reported its results for the fourth quarter and full year December 31, 2024.

    GCM Grosvenor issued a detailed presentation of its results to the Public Shareholders section of GCM Grosvenor’s website at https://www.gcmgrosvenor.com/shareholder-events.

    GCM Grosvenor’s Board of Directors approved a $0.11 per share dividend payable on March 17, 2025 to shareholders on record March 3, 2025. In addition, in February 2025, GCM Grosvenor’s Board of Directors increased the firm’s existing share repurchase authorization by $50 million, from $140 million to $190 million.

    Conference Call

    A conference call to discuss GCM Grosvenor’s financial results will be held today, Monday, February 10, 2025, at 10:00 a.m. ET. The call will be accessible via public webcast from the Public Shareholders section of GCM Grosvenor’s website at https://www.gcmgrosvenor.com/shareholder-events, and a replay of the live broadcast will be available on the website soon after the call’s completion.

    The call can also be accessed by dialing (888) 394-8218 (toll-free) or (646) 828-8193 and using the passcode 3333622.

    About GCM Grosvenor

    GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.

    GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com.

    Non-GAAP Financial Measures

    Included in the results above, we report certain financial measures that are not required by, or presented in accordance with, GAAP. Management uses these non-GAAP measures to assess the performance of our business across reporting periods and believes this information is useful to investors for the same reasons. These non-GAAP measures should not be considered a substitute for the most directly comparable GAAP measures, which we reconcile within the detailed presentation discussed above. Further, these measures have limitations as analytical tools, and when assessing our operating performance, you should not consider these measurements in isolation or as a substitute for GAAP measures including net income (loss). We may calculate or present these non-GAAP financial measures differently than other companies who report measures with the same or similar names, and as a result, the non-GAAP measures we report may not be comparable.

    Share Repurchase Plan Authorization

    GCMG’s Board of Directors previously authorized a share repurchase plan, which may be used to repurchase outstanding Class A common stock and warrants in open market transactions, in privately negotiated transactions including with employees or otherwise, as well as to retire (by cash settlement or the payment of tax withholding amounts upon net settlement) equity-based awards granted under the Company’s Amended and Restated 2020 Incentive Award Plan (or any successor equity plan thereto). The Company is not obligated under the terms of plan to repurchase any of its Class A common stock or warrants, and the size and timing of these repurchases will depend on legal requirements, price, market and economic conditions and other factors. The plan has no expiration date and the plan may be suspended or terminated by the Company at any time without prior notice. Any outstanding shares of Class A common stock and any warrants repurchased as part of this plan will be cancelled. As of December 31, 2024, the total share repurchase plan authorization is $140.0 million. In February 2025, GCM Grosvenor’s Board of Directors increased the firm’s existing share repurchase authorization by $50.0 million, from $140.0 million to $190.0 million.

    Public Shareholders Contact
    Stacie Selinger
    sselinger@gcmlp.com
    312-506-6583

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

    Source: GCM Grosvenor

    The MIL Network –

  • MIL-OSI: Crisil Coalition Greenwich Names Mizuho Best Bank for Corporate Banking in the U.S.

    Source: GlobeNewswire (MIL-OSI)

    Mizuho ranked first, tied alongside Goldman Sachs, J.P. Morgan, and Bank of America

    Mizuho also wins Best Bank for Coverage for Corporates and Best Bank for Ease of Doing Business for Corporates

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Mizuho Americas today announced it was named best bank in the U.S. by Crisil Coalition Greenwich for Best in Corporate Banking, Best Coverage for Corporates, and Best in Ease of Doing Business for Corporates. Mizuho ranked first, tied alongside Goldman Sachs, J.P. Morgan, and Bank of America for Corporate Banking and Ease of Doing Business, and tied with J.P. Morgan and Bank of America for Coverage for Corporates.

    Crisil Coalition Greenwich conducted over 200 interviews, from May through November 2024, with CFOs and Treasurers at U.S.- based companies with $2 billion or more in annual revenue. Decision makers were asked about capabilities in specific areas, including breadth and depth of product offerings, quality of coverage, and business momentum.

    “We appreciate this amazing response from our corporate clients in recognition of our platform and are honored to be ranked first alongside the best banks in the industry,” said Jerry Rizzieri, President & CEO of Mizuho Securities USA and Head of CIB at Mizuho Americas. “We have built a successful coverage model coupled with great product capabilities and top talent to present fully integrated offerings backed by a client-centric culture.”

    Mizuho Americas was rated excellent/distinctive for effectiveness of senior management, frequency of contact, responsiveness, proactive provision of advice, coordinating product specialists, and digitizing KYC processes.

    Crisil Coalition Greenwich is a leading provider of strategic benchmarking, analytics, and insights. Its award winners receive quality ratings from corporate clients that top those of competing banks by a statistically significant margin.

    About Mizuho Americas
    Mizuho Financial Group, Inc. is the 17th largest financial institution in the world as measured by total assets of ~$2 trillion, according to S&P Global 2024. Mizuho’s 65,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 850 offices throughout the Americas, EMEA, and Asia.​

    Mizuho Americas is a leading provider of corporate and investment banking, capital markets, strategic advisory, equity research, equity and fixed income sales & trading, derivatives, and financing solutions to corporate, private equity, and institutional clients in the US, Canada, and Latin America. Through its acquisition of Greenhill, Mizuho enhanced its M&A, restructuring, and private capital advisory capabilities across Americas, Europe, and Asia. Mizuho Americas employs approximately 3,700 professionals, for more information visit www.mizuhoamericas.com.​

    For inquiries, please contact:

    Jim Gorman
    Executive Director, Media Relations, Mizuho Americas
    +1-212-282-3867
    jim.gorman@mizuhogroup.com

    Laura London
    Director, Media Relations, Mizuho Americas
    +1-212-282-4446
    laura.london@mizuhogroup.com

    The MIL Network –

  • MIL-OSI: NXP Agrees to Acquire Edge AI Pioneer Kinara to Redefine the Intelligent Edge

    Source: GlobeNewswire (MIL-OSI)

    • Enhances NXP’s leading processing portfolio with cutting edge NPUs and AI software, driving intelligent system solutions across the industrial and automotive edge markets.
    • Delivers high-performance neural network processing with advanced generative AI to create transformative edge use cases.
    • Establishes a scalable platform for AI-powered edge systems, combining NXP’s broad portfolio of processing, connectivity, security, and advanced analog solutions, with Kinara’s AI hardware and software.

    EINDHOVEN, the Netherlands, Feb. 10, 2025 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) today announced it has entered into a definitive agreement to acquire Kinara, Inc., an industry leader in high performance, energy-efficient and programmable discrete neural processing units (NPUs). These devices enable a wide range of edge AI applications, including multi-modal generative AI models. The acquisition will be an all-cash transaction valued at $307 million and is expected to close in the first half of 2025, subject to customary closing conditions, including regulatory clearances.

    The future of intelligent systems will require secure, cost-effective and energy efficient AI processing at the edge. As a result, the edge AI processing market is growing rapidly. Advanced AI at the edge enables critical decisions to be made locally and independently from the cloud, leading to faster responses, improved data privacy, and reduced costs.

    Kinara’s innovative NPUs and comprehensive software enablement deliver energy-efficient AI performance across a range of neural networks, including conventional AI, as well as generative AI, to address the rapidly growing AI needs of industrial and automotive markets. The acquisition will enhance and strengthen NXP’s ability to provide complete and scalable AI platforms, from TinyML to generative AI, by bringing discrete NPUs and robust AI software to NXP’s portfolio of processors, connectivity, security, and advanced analog solutions.

    As existing partners, Kinara and NXP make it easy to pair Kinara’s NPUs with NXP’s industry-leading portfolio of industrial and IoT processors. Together, the companies will create tighter integration of solutions to deliver scalable AI platforms for a variety of industrial and automotive AI inference needs.

    “The industrial market is going through a transformation, with new innovations like generative AI helping to deliver major improvements in efficiency, sustainability, safety and predictability, and in many instances, unlock new use cases and functionality,” said Rafael Sotomayor, executive vice president and general manager, Secure Connected Edge at NXP. “Adding Kinara’s AI capabilities to our broad intelligent edge portfolio creates a scalable platform for new classes of AI-powered systems. Together, we can help our customers simplify complexity and accelerate time to market as they create transformative AI systems.”

    Advancing Edge AI Innovation with Kinara Discrete NPUs
    Kinara’s discrete NPUs, including the Ara-1 and Ara-2, are among the industry leaders in performance and power efficiency. This makes them the preferred solution for emerging AI applications in vision, voice, gesture, and a variety of other generative AI-powered multi-modal implementations. Both devices feature an innovative architecture that enables mapping of the inference graphs for efficient execution on Kinara’s programmable proprietary neural processing units for maximizing edge AI performance. This programmability ensures adaptability as AI algorithms continue to evolve from CNNs to generative AI and new approaches such as agentic AI in the future.

    Ara-1 is the first generation discrete NPU, capable of advanced AI inferencing at the edge. Ara-2, capable of up to 40 TOPS (Tera Operations Per Second), the second generation NPU, is optimized for achieving system-level high performance for generative AI. The Ara-1 and Ara-2 NPUs can be easily integrated with embedded systems to enhance their AI capabilities, including upgrading existing in-field systems.

    Kinara also provides a complete software development kit enabling customers to optimize AI model performance and streamline the deployment. Kinara’s AI software portfolio includes extensive model libraries and model optimization tools, which will be integrated into NXP’s eIQ AI/ML software development environment to enable customers to quickly and easily create end-to-end AI systems.

    Embedded World 2025
    The combined innovations of NXP and Kinara will be on display at Embedded World 2025 in Nuremberg. For more information, visit NXP.com/EmbeddedWorld or visit NXP’s Booth #4A-222.

    Forward Looking Statements
    This document includes forward-looking statements which include statements regarding NXP’s acquisition of Kinara, Inc. as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after NXP distributes this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors and other cautionary statements included in NXP’s SEC filings. Copies of NXP’s SEC filings are available on NXP’s Investor Relation website, https://investors.nxp.com or from the SEC website, www.sec.gov.

    About NXP Semiconductors
    NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $12.61 billion in 2024. Find out more at www.nxp.com.

    NXP, eIQ and the NXP logo are trademarks of NXP B.V. All other product or service names are the property of their respective owners. All rights reserved. © 2025 NXP B.V

    For more information, please contact:

    Americas & Europe Greater China / Asia 
    Phoebe Francis            Ming Yue
    Tel: +1 737-274-8177 Tel: +86 21 2205 2690
    Email: phoebe.francis@nxp.com Email: ming.yue@nxp.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/27fb23b7-451d-40a6-906f-9935570a1b44

    The MIL Network –

  • MIL-OSI: ACT-ion Raises $7.5 million in Pre-Series A Round Led by BASF Venture Capital

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 10, 2025 (GLOBE NEWSWIRE) — ACT-ion Battery Technologies, a startup in the field of lithium ion battery cathode active materials (CAM), announced today the successful closing of its Pre-Series A funding round. Founded in 2019, ACT-ion has developed both an efficient and cost-effective means to produce single crystalline cathode active materials. This chemistry agnostic process addresses a critical challenge in the lithium-ion battery value chain: the need to both reduce CAM production costs and increase production throughput.

    The USD 7.5 million round was led by BASF Venture Capital, with participation from Hunt Energy Enterprises, Mirae Asset Capital, Arosa Capital Management, and LG Technology Ventures. ACT-ion will use the proceeds to accelerate its innovative CAM production technology, aiming to establish an operational pilot facility by 2025, with validations from leading industry partners.

    ACT-ion is the recent recipient of a R&D 100 award which recognized the Company’s innovation to overcome the complexity and cost of CAM manufacturing. ACT-ion’s continuous process generates coated single crystal CAM leading to higher performance and longer cycle life lithium-ion batteries. ACT-ion has successfully demonstrated this manufacturing platform for a variety of chemistries.

    “We are excited to have the support of Pre-Series A investors who share our vision for battery materials and manufacturing,” said Jin Lim, CTO and Interim CEO of ACT-ion. “This funding will allow us to bring our innovative solutions to market faster and make a meaningful impact on the global energy landscape.”

    “We are excited to have led this financing round and to support ACT-ion as a partner. With the market need for novel battery materials, and the processes to produce them, ACT-ion’s mission to improve CAM aligns well with BASF efforts to deliver innovation to our customers,” said Joshua Speros, Investment Manager at BASF Venture Capital.

    “The domestic production of battery materials at cost will mark a significant milestone in the US CAM industry,” said Lillian Shattock, Director of Private Investments at Arosa Capital Management. “We are thrilled to support ACT-ion, as we believe their technology can be a pivotal enabler of domestic CAM manufacturing.”

    Incubated within and spun-out of Hunt Energy Enterprises LLC, “the ACT-ion venture was developed to target the largest cost constraint within lithium batteries and thereby help enable growth for markets such as electric drones, electric vehicles and power tools,” said Victor Liu, Chairman of ACT-ion.

    About ACT-ion Battery Technologies

    ACT-ion Battery Technologies is a leading lithium battery cathode active material (CAM) technology company. As an advanced manufacturing technology company, ACT-ion’s rapid continuous process produces coated single crystal CAMs for lithium batteries through a novel, clean, and chemistry-agnostic process, requiring lower energy and cost. For more information, please visit www.act-ion.com.

    About Hunt Energy Enterprises

    Hunt Energy Enterprises is the corporate energy technology venture group within Hunt Energy Company, LP. As such, Hunt Energy Enterprises has incubated several technologies that leverage its operations and knowledge to create new energy companies and partnerships with entrepreneurs in both the conventional petroleum business and cleantech power. It is part of a larger privately-owned group of companies managed by the Ray L. Hunt family that engages in oil and gas exploration, refining, power, real estate, ranching and private equity investments. For more information, please visit www.huntenergyenterprises.com.

    About BASF Venture Capital GmbH

    At BASF, we create chemistry for a sustainable future. BASF Venture Capital GmbH also contributes to this corporate purpose. Founded in 2001, BASF Venture Capital invests in Europe, the United States, Canada, China, India, Brazil, and Israel. Our goal is to generate new growth potential for current and future business areas of BASF by investing in innovative startups. The focus of our venture investments includes decarbonization, circular economy, Agtech, new materials, digitalization and new, disruptive business models. For more information, please visit https://www.basf.com/global/en/who-we-are/organization/group-companies/BASF_Venture-Capital

    About Arosa Capital Management

    Arosa Capital Management is an alternative investment manager that focuses on investments in alternative energy, traditional energy and related sectors. Founded in 2013, Arosa’s approach is rooted in rigorous fundamental analysis and deep sector expertise to invest in private and public companies as well as in credit and commodities on a cross asset basis. The focus of Arosa’s ventures strategy is investments in private companies that primarily pursue alternative, renewable, or efficient energy technologies. For more information, please visit www.arosacapital.com.

    About Mirae Asset Capital

    Mirae Asset Capital is a leading financial institution specializing in fostering innovation and driving new growth opportunities as a trusted financial partner. Established in 1997, the firm invests in groundbreaking ideas across sectors including AI, robotics, energy, and biotechnology. Leveraging the extensive global network of the Mirae Asset Financial Group, Mirae Asset Capital operates across key markets such as Korea, the United States, India, and China. For more information, please visit vc.miraeassetcapital.com.

    About LG Technology Ventures

    LG Technology Ventures is the venture capital investment arm of the LG Group. LG Technology Ventures was established in 2018 and its team consists of experienced investors, entrepreneurs, technologists, and industry domain experts. Currently, LG Technology Ventures is managing over $805 million of fund assets and invests in early-stage start-ups in artificial intelligence, mobility, advanced materials, life-sciences, next generation display, mobile, and 5G. We strive to create value for our portfolio companies by helping them develop strategic partnerships with LG Companies. For more information, please visit https://www.lgtechventures.com/.

    For more information, please contact: ACT-ion Communications, Email: inquiry@act-ion.com

    The MIL Network –

  • MIL-Evening Report: Ōtautahi man says family in Gaza will never leave despite US proposal

    Yasser Abdulaal, who has lived in Ōtautahi Christchurch for five years, said his two sisters had lost their homes in the 15-month-long war.

    “Toxic wasteland” . . . Palestinians take shelter in tents set up amid heavily damaged buildings in Jabalia in the northern Gaza Strip. Image: Al Jazeera screenshot APR

    Abdulaal said they and their husbands — all teachers — could have left at the start of the bombing but refused to abandon their land — and they would not be leaving now.

    “After the ceasefire and with Trump’s statements, they are definitely not going to leave Gaza, regardless of what he says and what [the US] does. It’s their land.”

    He said New Zealand should recognise Palestine as a state and sanction Israel in accordance with international law.

    It should also call for more funding for international aid to Gaza, he added.

    ‘Two-state solution’
    “New Zealand voted for a two-state solution and we have been asking the government to enforce that. Many countries during the genocide already recognise Palestine as a state but our government sees it as ‘not the right time’.

    “I think it is the right time, and New Zealand should recognise Palestine immediately.”

    Abdulaal said he reached a moment during the war where he could not bring himself to call his sisters.

    “I didn’t know what to say, remotely, from New Zealand.

    “It’s a really hard time for everyone, they’ve been in tents for more than eight months, both [my sisters’] houses have gone, they are completely rubble.

    “They are still in tents despite the ceasefire because they have no other place to go to.”

    But he has talked to the pair since the ceasefire began.

    Israeli tanks in area
    “One of my sisters can’t even go and see her house as there is still Israeli tanks in that area [the Philadelphia corridor]. But we know from footage — as she says — the height of my house now is half a metre, it was two levels but now it’s half a metre.

    “It’s mixed emotions. The killing and bloodshed has stopped, but I have lost 55 [relatives] in the airstrikes, most of them women and children.

    “They haven’t even had a proper funeral . . .  it’s really hard, people are just trying to get food for their kids, those basic human rights for people which they don’t have.

    “They are happy with the ceasefire, and we hope it will be a permanent ceasefire, but we have also lost lots of people . . .  [the rest] have lost their houses, their jobs, everything.

    “When I close my eyes and I think about losing 55 people, and that’s just the ones we know about. It’s horrific, I can’t believe it . . .  they’re all relatives: cousins, uncles, extended family.”

    Trump’s proposal was a “dangerous statement and outrageous”, Abdulaal said, likening it to “a reward to Netanyahu and the Israeli government who have been bombing everything in Gaza, killing everyone, committing genocide”.

    “[President Trump] says he wants to drive the people out of Gaza, meaning he wants to ethnically cleanse the people from Gaza, which is another war crime,” said Abdulaal.

    “This is our land and we are rooted to this land and we’ll never leave it.”

    This article is republished under a community partnership agreement with RNZ.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Acting CE meets UN official

    Source: Hong Kong Information Services

    Acting Chief Executive Chan Kwok-ki today met United Nations Food & Agriculture Organization (FAO) Director-General Qu Dongyu.

    Welcoming Mr Qu’s visit to Hong Kong with his delegation, Mr Chan noted that the FAO has 194 Member Nations launching work worldwide, leading international efforts to eradicate hunger.

    He said the organisation plays a pivotal role in global food security, promoting the development of distinctive agricultural products in various countries and regions, advancing the development of fisheries and aquaculture, and preventing and controlling major animal diseases, adding that its achievements are widely recognised.

    Mr Chan pointed out that Hong Kong is promoting the upgrading and transformation of the overall agriculture and fisheries industry towards modernisation and sustainable development. The Blueprint for the Sustainable Development of Agriculture & Fisheries formulated in Hong Kong earlier has also set out specific work targets in this regard.

    In addition, Hong Kong has consistently engaged in various collaborations with the FAO. For example, the Agriculture, Fisheries & Conservation Department earlier participated in the drafting of a series of FAO guidelines on African Swine Fever (ASF) to assist smallholder pig farmers in the Asian region to respond to ASF, and the relevant guidelines have now been widely adopted by Asian countries and regions.

    Mr Chan added that he looks forward to greater co-operation between Hong Kong and the FAO to strengthen knowledge exchange, promote regional co-operation, and make further contributions to global food security and sustainable development.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CE meets Heilongjiang officials

    Source: Hong Kong Information Services

    Continuing his visit to Harbin, Chief Executive John Lee today called on leaders of Heilongjiang Province, visited injured Hong Kong ice hockey athletes, met Hong Kong people working in the three northeastern provinces, and toured the Beidahuang Museum.

    Mr Lee met respectively CPC Heilongjiang Provincial Committee Secretary Xu Qin and Heilongjiang Governor Liang Huiling to exchange views on issues of mutual concern.

    The Chief Executive remarked that Heilongjiang Province has leveraged the ice and snow economy as a new engine for economic development by making good use of its rich tourism resources while actively promoting winter sports. He added that Heilongjiang Province sets an example of integrating sports with cultural and tourism development, which is inspiring to Hong Kong.

    Noting that Hong Kong is the largest source of external investment for Heilongjiang, Mr Lee said Hong Kong, as a “super connector” and a “super value-adder”, can serve the Mainland in exploring global markets.

    Additionally, highlighting that the Individual Visit Scheme has been extended to include Harbin in Heilongjiang Province since last May, while direct flights between Harbin and Hong Kong were launched last June, Mr Lee said tourism co-operation between the two places has been strengthened, thereby promoting people-to-people bonds.

    The Beijing Office and Liaoning Liaison Unit of the Hong Kong Special Administrative Region Government will continue to serve as a bridge to enhance exchanges between Hong Kong and Heilongjiang in various areas, he added.

    Separately, Mr Lee visited the Hong Kong ice hockey players who were injured yesterday after a match at the 9th Asian Winter Games Harbin 2025, to understand their condition and offer his support.

    The Chief Executive stressed that he is highly concerned about the attack on Hong Kong athletes. He has requested the Sports Federation & Olympic Committee of Hong Kong, China as well as the Culture, Sports & Tourism Bureau to follow up on the incident and make every effort to ensure the athletes’ safety.

    He pointed out that the Hong Kong players had remained calm and restrained during the incident, demonstrating professionalism and sportsmanship, and praised the ice hockey team for its outstanding performance in the past competitions, making Hong Kong people proud.

    The Chief Executive also encouraged the athletes not to let the incident affect their morale, to take good care of themselves and to give their best in the Games, assuring them that Hong Kong people would fully support them.

    While meeting Hong Kong people working and doing business in the three northeastern provinces to learn about their daily lives and development, he encouraged them to introduce Hong Kong’s latest developments to local enterprises and tell the good stories of Hong Kong.

    In the afternoon, Mr Lee visited the Beidahuang Museum to understand the transformation of the “Great Northern Wilderness”, a plain region in northeastern Heilongjiang, from a barren wilderness into a key commodity grain base and a strategic grain reserve base of China. He also gained insights into the “Beidahuang spirit” which embodies perseverance, resilience and a pioneering mindset.

    Meanwhile, Secretary for Culture, Sports & Tourism Rosanna Law had a work meeting with Heilongjiang Province Department of Culture & Tourism Director-General He Jing this afternoon, during which she gave a briefing on the latest developments of Hong Kong’s culture and tourism.

    Miss Law told the meeting that as the cultural and tourism resources of Hong Kong and Heilongjiang are unique in their own ways, there is significant potential for collaboration. She expressed hope to expand the market and drive bilateral tourism flow with Heilongjiang in the future.

    The Chief Executive will head back to Hong Kong tomorrow.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: China deplores US-Japan statement that interferes in China’s domestic affairs

    Source: China State Council Information Office

    China deplores and strongly opposes the latest joint statement made by the United States and Japan concerning China, as the statement is brazen interference in China’s domestic affairs, foreign ministry spokesperson Guo Jiakun said Monday.

    The joint statement released last week expressed support for Taiwan’s so-called meaningful participation in international organizations, and reaffirmed that Article V of the U.S.-Japan Treaty of Mutual Cooperation and Security applies to the Diaoyu Dao, an inherent part of China’s territory.

    In response, Guo told a daily news briefing that the China-related content of the joint statement blatantly interferes in China’s internal affairs, smears China and plays up regional tensions.

    China has lodged solemn representations with Japan, Guo said.

    Noting that the Taiwan question is purely China’s internal affairs and central to its core interests, he said the country will not tolerate any external interference.

    The governments of the United States and Japan have made solemn commitments to China on the Taiwan question. Furthermore, Japan should be more cautious in words and actions because it bears the grave historical responsibility for invading and colonizing Taiwan, Guo added.

    He said if those countries really care about peace and stability across the Taiwan Strait, they should abide by the one-China principle and unequivocally oppose “Taiwan independence.”

    The Taiwan region’s participation in the activities of international organizations must and can only be handled in line with the one-China principle, and Taiwan does not have any ground, reason or right to join international organizations whose membership is confined to sovereign states, he said.

    The Diaoyu Dao and its affiliated islands have always been part of China’s territory, and it is legitimate and lawful for China to conduct activities in relevant waters, Guo said.

    “We urge the United States and Japan to abide by the one-China principle and their own commitments, immediately stop interfering in China’s internal affairs, refrain from sending any wrong signal to the ‘Taiwan independence’ forces, earnestly respect China’s territorial sovereignty and maritime rights and interests, stop manipulating China-related issues, and take concrete actions to play a constructive role in promoting regional peace and development,” he said.

    MIL OSI China News –

  • MIL-OSI United Kingdom: UK-India defence agreements boost ‘Atmanirbhar Bharat’ ambition

    Source: United Kingdom – Government Statements

    The UK-India strategic partnership has taken another major step forward with the formal launch of Defence Partnership – India (DP-I) and the signing of several defence agreements at Aero India 2025.

    Announcing DP-I, UK Defence Minister Lord Vernon Coaker opened the UK-India Defence Partnership Pavilion, establishing a dedicated programme office within the UK’s Ministry of Defence that will serve as a one-stop shop for strengthening bilateral defence collaboration between the two countries.

    The UK and India have today agreed to expand their collaboration on next-generation weapons with Thales and Bharat Dynamics Limited (BDL). Thales and BDL have signed a contract that will deliver Laser Beam Riding MANPADs (LBRM), with an initial supply of High Velocity Missiles (STARStreak) and launchers to be delivered this year. This contract represents an important next step for UK-Indian defence co-operation in the critical area of air defence.

    Lord Vernon Coaker, UK Defence Minister, said:

    It was a pleasure to visit India and continue to grow our already strong defence relationship. Our Defence Partnership and the UK-India Defence Partnership Pavilion will help strengthen our cooperation further, supporting economic growth in both our countries and India’s Atmanirbhar ambition.

    This event showcases our collaboration in next generation capability, and the massive potential the UK and India can unlock by working together.

    Following the signing of this initial LBRM contract, both Thales and BDL will further collaborate to produce Lightweight Multirole Missiles (LMM). This develops and expands the partnership between Indian and British industry, laying the foundation for BDL and Indian industry to form an integral part of Thales’ global supply chain. It will address mutual security concerns, create jobs in both countries and enable interoperability by both armies.

    Lindy Cameron, British High Commissioner to India, said:

    India is taking significant steps in its journey to become Atmanirbhar in its defence capabilities. The UK is really looking forward to working with India as a partner of choice in supporting this ambition: collaborating on defence technologies lies at the heart of this. These are landmark agreements that support our economic growth and joint security.

    In a separate development, MBDA UK and BDL have been working together on the installation of a first of its kind Advanced Short-Range Air to Air Missile (ASRAAM) assembly and test facility in Hyderabad, arming current fleet of India’s fighter jets as well as exporting to the world.

    On the maritime front, the UK and India have signed a Statement of Intent to design and develop an Integrated Full Electric Propulsion (IFEP) system for India’s next generation Landing Platform Dock (LPD) fleet. As next steps, GE Vernova and BHEL are working to develop India’s first maritime Land Based Testing Facility to deliver LPD in the water by 2030.

    The strengthening of UK-India partnership will directly support India’s ‘Atmanirbhar Bharat’ ambition and deliver the UK Government’s growth agenda and Plan for Change.

    Further information

    • Free-to-use high resolution images of the UK delegation at Aero India will be uploaded online: www.flickr.com/photos/ukinindia.

    • The British companies at Aero India 2025 are Rolls Royce, BAE Systems, MBDA UK, Thales UK, GE Vernova, Leonardo, Strongfield Technologies, ASL, SEKO Logistics, Jaguar Engineering Centre of Excellence, Aviation Defence Supplies Ltd and Ricardo.

    • Following the signing of the LBRM contract both Thales UK and BDL will further collaborate to co-produce Lightweight Multirole Missiles with BDL forming an integral part of the Thales supply chain, increasing manufacturing capacity for global export.

    • UK Defence invested £69 million to secure Thales UK supply chain for key components used in the manufacture of missiles in 2024.

    • The landmark maritime electric propulsion capability transfer will ensure self-reliance in the power and propulsion of the Indian Navy’s next generation fleets.

    Media

    David Russell, Communications Counsellor and Spokesperson,
    British High Commission, Chanakyapuri,
    New Delhi 110021. Tel: 24192100

    Media queries: BHCMediaDelhi@fcdo.gov.uk

    Follow us on Twitter, Facebook, Instagram, Flickr, Youtube and LinkedIn

    Updates to this page

    Published 10 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Pando Launches Pi – AI Teams for Logistics, Enabling Autonomous Freight Procurement, Planning, and Payments for Global Brands

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 10, 2025 (GLOBE NEWSWIRE) — Pando, the leading Logistics AI company, today announced the launch of its AI Teams for Logistics, a groundbreaking suite of AI Agents designed to automate freight procurement, dispatch planning, and freight audit and payment processes for global brands. Purpose-built to transform logistics operations, its new ‘Logistics Services as Software’ model enables manufacturers, distributors, and retailers to replace manual, error-prone tasks with intelligent automation to unlock unprecedented efficiency and cost savings by replacing the need for hiring additional staff or more software with AI agents. Pi redefines both logistics and talent strategies, accelerating the shift toward a world where Human Intelligence and Artificial Intelligence work together to drive complex business processes. Pando’s AI Agents act as a team of smart analysts, empowering logistics managers to delegate important yet repetitive decisions to these agents, who execute them with unmatched accuracy.

    Pando’s CEO Nitin Jayakrishnan and global technology executive, public and private company board director Suja Chandra will showcase Pando’s AI Teams through a live demonstration at Manifest 2025 in Las Vegas from February 10-12 at booth #1408, giving industry leaders an exclusive look at how AI is reshaping global transportation management.

    Automating Routine Decisions with AI Teams

    For decades, logistics teams have been weighed down by time-consuming processes —coordinating with carriers, negotiating rates, verifying invoices, tracking shipment delays, and ensuring contract compliance and service delivery. These tasks, while critical, are cumbersome, and distract teams from focusing on strategic initiatives that drive top and bottom line for the brands they serve. Teams can now break this cycle by hiring AI Teams that can automate routine tasks such as invoice audits, payments processing, carrier collaboration, and freight spend analysis and reporting.

    Pando’s AI Teams are already deployed at some of the world’s largest brands. Seamlessly integrated with business systems, third-party tools, and market data Pando creates an enterprise-specific supply chain knowledge graph. This dynamic, real-time representation of the logistics network continuously trains enterprise-specific Logistics Language Models® (LLMs) that not only understand multi-modal global logistics but precisely understand the context of individual businesses and their networks. This allows Pando’s AI Teams to execute repetitive tasks and decisions in freight and transportation management with high precision.

    “At Accuride, on-time delivery to our global commercial vehicle customers is paramount. This in turn demands seamless collaboration with our global suppliers in Asia,” said Skotti Fietsam, SVP Global Supply Chain. “Pando’s AI agents have transformed our supplier collaboration in this context of inbound logistics. What once took days of painstaking manual review of booking reports and packing lists from suppliers now happens in minutes. Pi, Pando’s AI agent, automatically extracts critical data from supplier emails, generating shipment records ready for review. This frees our team from tedious tasks, allowing us to focus on strategic priorities and ensure we meet our customers’ demands. Pando is a true game-changer with its cutting-edge AI capabilities, dramatically boosting our team productivity and ensure we maintain our competitive edge.”

    From Automation to Intelligence: AI Teams That Execute Complex Logistics Decisions

    With more data and continuous learning, AI Teams take on increasingly complex and high-value logistics decisions. For example, Pando’s AI Teams now procure freight across multiple modes and geographies, ensuring optimal pricing and carrier selection for both spot and long-term contracts autonomously. It determines the best modal mix, optimizes carrier allocations, bundles lanes, negotiates rates, and finalizes contracts, all while ensuring alignment with broader service level expectations. AI Teams can also audit, validate invoices, execute claims processes, and pay freight invoices across all modes, services, and currencies, identifying discrepancies and even resolving disputes by collaborating directly with carriers to resolve invoice disputes.

    The Future of Logistics: AI Teams Partnering with Human Teams

    Pando represents a fundamental shift in how logistics teams operate. Moving beyond simple automation, it creates a model where human intelligence and artificial intelligence collaborate seamlessly. Instead of spending their time on routine decisions, logistics professionals can now focus on strategy, innovation, and higher-value problem-solving, supported by AI Agents that execute with precision and reliability.

    “Logistics teams are burdened with too many ‘keep-the-lights-on’ tasks—chasing carriers, negotiating spot rates, validating invoices—leaving little room for strategic initiatives. With Pando, we are bringing the power of AI to logistics decision-making, freeing teams to focus on what truly matters. This isn’t about automation for automation’s sake; it’s about super-powering logistics to be true revenue partners to the business,” said Nitin Jayakrishnan, CEO of Pando.

    Experience Pi at Manifest 2025

    As AI continues to reshape global supply chains, AI is set to become an indispensable tool for logistics teams worldwide, accelerating the industry’s shift toward autonomous operations.

    Pando will be showcasing Pi at Manifest 2025 in Las Vegas (Booth #1408, February 10-12), where attendees can experience firsthand how AI Teams can drive efficiency, accuracy, and autonomy in logistics management.

    About Pando

    Pando is a global leader in AI-powered logistics technology, helping manufacturers, distributors, and retailers automate the procure-to-pay lifecycle of freight to build agility, control freight spend, and reduce carbon footprint. Trusted by Fortune 500 enterprises with global customers across North America, Europe and Asia Pacific regions, Pando is pioneering the future of autonomous logistics with cutting-edge AI.

    Pando is recognized by Gartner for its transportation management capabilities, by World Economic Forum (WEF) as a Technology Pioneer, by G2 as a Market Leader in Freight Management, and named one of the fastest-growing technology companies by Deloitte. For more information, visit www.pando.ai.

    Media Contact
    Courtney Meints
    Skyya PR for Pando
    +1 651-329-9098
    pando@skyya.com

    The MIL Network –

  • MIL-OSI: Tower Semiconductor Reports 2024 Fourth Quarter and Full Year Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MIGDAL HAEMEK, Israel, Feb. 10, 2025 (GLOBE NEWSWIRE) — Tower Semiconductor (NASDAQ: TSEM & TASE: TSEM) reports today its results for the fourth quarter of 2024 and for the year ended December 31, 2024.

    Fourth Quarter of 2024 Results Overview
    Revenues for the fourth quarter of 2024 were $387 million as compared to $371 million for the third quarter of 2024 and $352 million for the fourth quarter of 2023, representing 5% quarter over quarter growth and 10% year over year growth. The Company met its expressed target of sequential quarter over quarter revenue growth within 2024, resulting in 18% growth fourth quarter over first quarter.

    Gross profit for the fourth quarter of 2024 was $87 million, compared to $84 million for the fourth quarter of 2023. During the fourth quarter of 2024, the Company took on for the first time its portion of incremental costs of the greenfield Agrate facility.

    Operating profit for the fourth quarter of 2024 was $46 million as compared to $45 million for the fourth quarter of 2023.

    Net profit for the fourth quarter of 2024 was $55 million, reflecting $0.49 basic and diluted earnings per share. Net profit for the fourth quarter of 2023 was $54 million, or $0.49 basic and $0.48 diluted earnings per share.

    Cash flow generated from operating activities in the fourth quarter of 2024 was $101 million and investments in property and equipment, net were $93 million.

    Full year 2024 Results Overview
    Revenues for the full year of 2024 were $1.44 billion, gross profit was $339 million, operating profit was $191 million. Net profit for the full year of 2024 was $208 million, or $1.87 basic and $1.85 diluted earnings per share. For the full year of 2023, revenues were $1.42 billion, gross profit was $354 million, operating profit was $547 million and included $314 million, net, from the Intel merger contract termination and $33 million of restructuring income, net, from the previously disclosed reorganization and restructure of our Japan operations during 2022. Net profit for the full year of 2023 was $518 million, or $4.70 basic and $4.66 diluted earnings per share and included $290 million, net, due to the merger contract termination payment by Intel and $11 million restructuring income, net.

    Cash flow generated from operating activities for the year ended December 31, 2024, was $449 million. Investments in property and equipment, net for the year ended December 31, 2024, were $432 million and debt payments, net totaled $32 million.

    6” Fab Consolidation Update
    During the fourth quarter of 2024, the lower margin legacy of 150mm flows were discontinued in Fab1, with last Fab outs occurring in January 2025. The forward-looking strategic flows have been transferred into the Fab2 200mm factory. This strategic integration enables the Company to streamline its production processes, enhancing overall efficiency.

    Business Outlook
    Tower Semiconductor guides revenues for the first quarter of 2025 to be $358 million, with an upward or downward range of 5%. First quarter mid-range guidance reflects about 10% year-over-year growth.

    Russell Ellwanger, Chief Executive Officer of Tower Semiconductor, stated:
    “With the close of 2024, we are pleased with our progress, in having brought to market highly differentiated end application advancing platforms, hence strengthening our position for sustainable growth. Our 2025 revenue target is year-over-year growth, with sequential quarter-over-quarter revenue growth, and an acceleration in the second half of the year. This momentum is fueled by increasing production shipments as our previously announced capacity investments progress through the final stages of customer qualifications.”

    Ellwanger further added: “Our commitment to customer partnered innovation and streamlined execution continues to drive our ability to meet the growing and evolving needs of our customers in a quickly changing business environment, whilst expanding our available market size and share. We look forward to the year ahead with confidence and enthusiasm.”

    Teleconference and Webcast
    Tower Semiconductor will host an investor conference call today, Monday, February 10, 2025, at 10:00 a.m. Eastern time (9:00 a.m. Central time, 8:00 a.m. Mountain time, 7:00 a.m. Pacific time and 5:00 p.m. Israel time) to discuss the Company’s financial results for the fourth quarter and full year of 2024 and its business outlook.

    The call will be webcast and available through the Investor Relations section of Tower Semiconductor’s website at ir.towersemi.com. The pre-registration form required for dial-in participation is accessible here. Upon completing the registration, participants will receive the dial-in details, a unique PIN, and a confirmation email with all necessary information. To access the webcast, click here. The teleconference will be available for replay for 90 days.

    Non-GAAP Financial Measures
    The Company presents its financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”). The financial information included in the tables below includes unaudited condensed financial data. Some of the financial information, which may be used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, which we may describe as adjusted financial measures and/or reconciled financial measures, are non-GAAP financial measures as defined in Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission (the “SEC”) as they apply to our Company. These adjusted financial measures are calculated excluding the following: (i) amortization of acquired intangible assets as included in our costs and expenses, (ii) compensation expenses in respect of equity grants to directors, officers, and employees as included in our costs and expenses, (iii) merger contract termination fees received from Intel, net of associated cost and taxes following the previously announced Intel contract termination as included in net profit in 2023 and (iv) restructuring income, net, which includes income, net of cost and taxes associated with the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, which occurred during 2022, as included in net profit. These adjusted financial measures should be evaluated in conjunction with, and are not a substitute for, GAAP financial measures. The tables also present the GAAP financial measures, which are most comparable to the adjusted financial measures used and/or presented in this release, as well as a reconciliation between the adjusted financial measures and the comparable GAAP financial measures. As used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, as well as may be included and calculated in the tables herein, the term Earnings Before Interest Taxes, Depreciation and Amortization which we define as EBITDA consists of operating profit in accordance with GAAP, excluding (i) depreciation expenses, which include depreciation recorded in cost of revenues and in operating cost and expenses lines (e.g., research and development related equipment and/or fixed other assets depreciation), (ii) stock-based compensation expense, (iii) amortization of acquired intangible assets, (iv) merger contract termination fees received from Intel, net of associated cost following the previously announced Intel contract termination, as included in operating profit and (v) restructuring income, net in relation to the reorganization and restructure of our operations in Japan including the cessation of operations of the Arai facility, as included in operating profit. EBITDA is reconciled in the tables below and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company from GAAP operating profit. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, are not a required GAAP financial measure and may not be comparable to a similarly titled measure employed by other companies. EBITDA and the adjusted financial information presented herein and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Net Cash, as may be used and/or presented in this release and/or prior earnings-related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is comprised of cash, cash equivalents, short-term deposits, and marketable securities less debt amounts as presented in the balance sheets included herein. The term Net Cash is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for cash, debt, operating profit, net profit or loss, cash flows provided by operating, investing and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP. The term Free Cash Flow, as used and/or presented in this release and/or prior earnings related filings and/or in related public disclosures or filings with respect to the financial statements and/or results of the Company, is calculated to be net cash provided by operating activities (in the amounts of $101 million, $125 million and $126 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $449 million and $677 million for the years ended December 31, 2024 and December 31, 2023, respectively (less cash used for investments in property and equipment, net (in the amounts of $93 million, $128 million and $136 million for the three months periods ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and in the amounts of $432 million and $432 million for the years ended December 31, 2024 and December 31, 2023, respectively). The term Free Cash Flow is not a required GAAP financial measure, may not be comparable to a similarly titled measure employed by other companies and should not be considered in isolation or as a substitute for operating profit, net profit or loss, cash flows provided by operating, investing, and financing activities, per share data or other profit or cash flow statement data prepared in accordance with GAAP.

    About Tower Semiconductor
    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns one operating facility in Israel (200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy with STMicroelectronics as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    CONTACT:
    Liat Avraham | Investor Relations | +972-4-6506154 | liatavra@towersemi.com

    Forward-Looking Statements
    This release, as well as other statements and reports filed, stated and published in relation to this quarter’s results, includes certain “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among others, projections and statements with respect to our future business, financial performance and activities. The use of words such as “projects”, “expects”, “may”, “targets”, “plans”, “intends”, “committed to”, “tracking”, or words of similar import, identifies a statement as “forward-looking.” Actual results may vary from those projected or implied by such forward-looking statements and you should not place any undue reliance on such forward-looking statements, which describe information known to us only as of the date of this release. Factors that could cause actual results to differ materially from those projected or implied by such forward-looking statements include, without limitation, risks and uncertainties associated with: (i) demand in our customers’ end markets, (ii) reliance on acquisitions and/or gaining additional capacity for growth, (iii) difficulties in achieving acceptable operational metrics and indices in the future as a result of operational, technological or process-related problems, (iv) identifying and negotiating with third-party buyers for the sale of any excess and/or unused equipment, inventory and/or other assets, (v) maintaining current key customers and attracting new key customers, (vi) over demand for our foundry services resulting in high utilization and its effect on cycle time, yield and on schedule delivery, as well as customers potentially being placed on allocation, which may cause customers to transfer their business to other vendors, (vii) financial results that may fluctuate from quarter to quarter, making it difficult to forecast future performance, (viii) our debt and other liabilities that may impact our financial position and operations, (ix) our ability to successfully execute acquisitions, integrate them into our business, utilize our expanded capacity and find new business, (x) fluctuations in cash flow, (xi) our ability to satisfy the covenants stipulated in our agreements with our debt holders, (xii) pending litigation, (xiii) meeting the conditions set in approval certificates and other regulations under which we received grants and/or royalties and/or any type of funding from the Israeli, US and/or Japan governmental agencies, (xiv) receipt of orders that are lower than the customer purchase commitments and/or failure to receive customer orders currently expected, (xv) possible incurrence of additional indebtedness, (xvi) the effects of global recession, unfavorable economic conditions and/or credit crisis, (xvii) our ability to accurately forecast financial performance, which is affected by limited order backlog and lengthy sales cycles, (xviii) possible situations of obsolete inventory if forecasted demand exceeds actual demand when we create inventory before receipt of customer orders, (xix) the cyclical nature of the semiconductor industry and the resulting periodic overcapacity, fluctuations in operating results and future average selling price erosion, (xx) financing capacity acquisition related transactions, strategic and/or other growth or M&A opportunities, including funding Agrate fab’s significant 300mm capacity investments and acquisition or funding of equipment and other fixed assets associated with the capacity corridor transaction with Intel as announced in September 2023, in addition to other capacity and capability expansion plans, and the possible unavailability of such financing and/or the availability of such financing on unfavorable terms, (xxi) operating our facilities at sufficient utilization rates necessary to generate and maintain positive and sustainable gross, operating and net profit, (xxii) the purchase of equipment and/or raw material (including purchases beyond our needs), the timely completion of the equipment installation, technology transfer and raising the funds therefor, (xxiii) product returns and defective products, (xxiv) our ability to maintain and develop our technology processes and services to keep pace with new technology, including artificial intelligence, evolving standards, changing customer and end-user requirements, new product introductions and short product life cycles, (xxv) competing effectively, (xxvi) the use of outsourced foundry services by both fabless semiconductor companies and integrated device manufacturers, (xxvii) our dependence on intellectual property rights of others, our ability to operate our business without infringing others’ intellectual property rights and our ability to enforce our intellectual property against infringement, (xxviii) the Fab 3 landlord’s alleged claims that the noise abatement efforts made thus far are not adequate under the terms of the amended lease that caused him to request a judicial declaration that there was a material non-curable breach of the lease and that he would be entitled to terminate the lease, as well the ability to extend such lease or acquire the real estate and obtain the required local state and/or approvals required to be able to continue operations beyond the current lease term, (xxix) retention of key employees and recruitment and retention of skilled qualified personnel, (xxx) exposure to inflation, currency rates (mainly the Israeli Shekel, the Japanese Yen and the Euro) and interest rate fluctuations and risks associated with doing business locally and internationally, as well as fluctuations in the market price of our traded securities, (xxxi) meeting regulatory requirements worldwide, including export, environmental and governmental regulations, as well as risks related to international operations, (xxxii) potential engagement for fab establishment, joint venture and/or capital lease transactions for capacity enhancement in advanced technologies, including risks and uncertainties associated with the Agrate fab and the capacity corridor transaction with Intel as announced in September 2023, such as their qualification schedule, technology, equipment and process qualification, facility operational ramp-up, customer engagements, cost structure, required investments and other terms, which may require additional funding to cover their significant capacity investment needs and other payments, the availability of which funding cannot be assured on favorable terms, if at all, (xxxiii) potential liabilities, cost and other impacts that may be incurred or occur due to reorganization and consolidation of fabrication facilities, including the impact of cessation of operations of our facilities, including with regard to our 6 inch facility, (xxxiv) potential security, cyber and privacy breaches, (xxxv) workforce that is not unionized which may become unionized, and/or workforce that is unionized and may take action such as strikes that may create increased cost and operational risks, (xxxvi) the issuance of ordinary shares as a result of exercise and/or vesting of any of our employee equity, as well as any sale of shares by any of our shareholders, or any market expectation thereof, as well as the issuance of additional employee stock options and/or restricted stock units, or any market expectation thereof, which may depress the market value of the Company and the price of the Company’s ordinary shares and in addition may impair our ability to raise future capital, and (xxxvii) climate change, business interruptions due to floods, fires, pandemics, earthquakes and other natural disasters, the security situation in Israel, global trade “war” and the current war in Israel, including the potential inability to continue uninterrupted operations of the Israeli fab, impact on global supply chain to and from the Israeli fab, power interruptions, chemicals or other leaks or damages as a result of the war, absence of workforce due to military service as well as risk that certain countries will restrict doing business with Israeli companies, including imposing restrictions if hostilities in Israel or political instability in the region continue or exacerbate, and other events beyond our control. With respect to the current war in Israel, if instability in neighboring states occurs, Israel could be subject to additional political, economic, and military confines, and our Israeli facility’s operations could be materially adversely affected. Any current or future hostilities involving Israel or the interruption or curtailment of trade between Israel and its present trading partners, or a significant downturn in the economic or financial condition of Israel, could have a material adverse effect on our business, financial condition and results of operations.

    A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading “Risk Factors” in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)  
    (dollars in thousands)  
      December 31,   December 31,  
      2024   2023  
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents $ 271,894   $ 260,664  
    Short-term deposits 946,351   790,823  
    Marketable securities —   184,960  
    Trade accounts receivable 211,932   154,067  
    Inventories 268,295   282,688  
    Other current assets 61,817   35,956  
    Total current assets 1,760,289   1,709,158  
    PROPERTY AND EQUIPMENT, NET 1,286,622   1,155,929  
    GOODWILL AND OTHER INTANGIBLE ASSETS, NET 10,196   12,115  
    OTHER LONG-TERM ASSETS 23,378   41,315  
    TOTAL ASSETS $ 3,080,485   $ 2,918,517  
    LIABILITIES AND SHAREHOLDERS’ EQUITY        
    CURRENT LIABILITIES        
    Short-term debt $ 48,376   $ 58,952  
    Trade accounts payable 130,624   139,128  
    Deferred revenue and customers’ advances 21,655   18,418  
    Other current liabilities 84,409   60,340  
    Total current liabilities 285,064   276,838  
    LONG-TERM DEBT 132,437   172,611  
    LONG-TERM CUSTOMERS’ ADVANCES 7,690   25,710  
    OTHER LONG-TERM LIABILITIES 15,114   16,319  
    TOTAL LIABILITIES 440,305   491,478  
    TOTAL SHAREHOLDERS’ EQUITY 2,640,180   2,427,039  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 3,080,485   $ 2,918,517  
             
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    REVENUES $ 387,191   $ 370,512   $ 351,711  
    COST OF REVENUES 300,338   277,451   267,294  
    GROSS PROFIT 86,853   93,061   84,417  
    OPERATING COSTS AND EXPENSES:            
    Research and development 20,622   19,867   20,849  
    Marketing, general and administrative 19,812   17,432   18,401  
      40,434   37,299   39,250  
                 
    OPERATING PROFIT 46,419   55,762   45,167  
    FINANCING AND OTHER INCOME, NET 8,315   6,104   16,682  
    PROFIT BEFORE INCOME TAX 54,734   61,866   61,849  
    INCOME TAX EXPENSE, NET (2,149)   (7,026)   (10,130)  
    NET PROFIT 52,585   54,840   51,719  
    Net loss (profit) attributable to non-controlling interest 2,553   (193)   2,128  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    BASIC EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.49  
    Weighted average number of shares 111,493   111,237   110,796  
    DILUTED EARNINGS PER SHARE $ 0.49   $ 0.49   $ 0.48  
    Weighted average number of shares 112,967   112,474   111,308  
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 55,138   $ 54,647   $ 53,847  
    Stock based compensation 10,684   8,611   6,662  
    Amortization of acquired intangible assets 574   448   442  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 66,396   $ 63,706   $ 60,951  
    ADJUSTED EARNINGS PER SHARE:            
    Basic $ 0.60   $ 0.57   $ 0.55  
    Diluted $ 0.59   $ 0.57   $ 0.55  
                 
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)  
    (dollars and share count in thousands, except per share data)  
      Year ended  
      December 31,  
      2024   2023  
    REVENUES $ 1,436,122   $ 1,422,680  
    COST OF REVENUES 1,096,680   1,069,161  
    GROSS PROFIT 339,442   353,519  
    OPERATING COSTS AND EXPENSES:        
    Research and development 79,434   79,808  
    Marketing, general and administrative 74,964   72,454  
    Restructuring income, net * (6,270)   (32,506)  
    Merger-contract termination fee, net ** —   (313,501)  
      148,128   (193,745)  
             
    OPERATING PROFIT 191,314   547,264  
    FINANCING AND OTHER INCOME, NET 26,113   37,578  
    PROFIT BEFORE INCOME TAX 217,427   584,842  
    INCOME TAX EXPENSE, NET (10,205)   (65,312)  
    NET PROFIT 207,222   519,530  
    Net loss (profit) attributable to non-controlling interest 642   (1,036)  
    NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    BASIC EARNINGS PER SHARE $ 1.87   $ 4.70  
    Weighted average number of shares 111,153   110,289  
    DILUTED EARNINGS PER SHARE $ 1.85   $ 4.66  
    Weighted average number of shares 112,343   111,216  
    * Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022.  
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost.  
             
    RECONCILIATION FROM GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY TO ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY:
    GAAP NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 207,864   $ 518,494  
    Stock based compensation 33,837   27,931  
    Amortization of acquired intangible assets 1,918   1,923  
    Restructuring income, net *** (2,634)   (11,224)  
    Merger-contract termination fee, net **** —   (289,988)  
    ADJUSTED NET PROFIT ATTRIBUTABLE TO THE COMPANY $ 240,985   $ 247,136  
    ADJUSTED EARNINGS PER SHARE:        
    Basic $ 2.17   $ 2.24  
    Diluted $ 2.15   $ 2.22  
    *** Restructuring income, net resulted from the previously disclosed reorganization and restructure of our Japan operations during 2022, net of tax.
    **** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost and tax.
    TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONSOLIDATED SOURCES AND USES REPORT (UNAUDITED)  
    (dollars in thousands)  
      Three months ended  
      December 31,   September 30,   December 31,  
      2024   2024   2023  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 270,979   $ 265,313   $ 314,816  
    Net cash provided by operating activities 100,816   124,743   126,098  
    Investments in property and equipment, net (93,396)   (127,624)   (136,426)  
    Debt received (repaid), net 2,795   (16,402)   (8,950)  
    Effect of Japanese Yen exchange rate change over cash balance (4,972)   5,537   2,101  
    Proceeds from (investment in) deposits, marketable securities and other assets, net (4,328)   19,412   (36,975)  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 270,979   $ 260,664  
      Year ended      
      December 31,   December 31,      
      2024   2023      
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD $ 260,664   $ 340,759      
    Net cash provided by operating activities 448,682   676,561 *    
    Investments in property and equipment, net (431,653)   (432,184)      
    Debt repaid, net (32,455)   (32,346)      
    Proceeds from investment in subsidiary —   1,932      
    Effect of Japanese Yen exchange rate change over cash balance (4,758)   (5,395)      
    Proceeds from (investment in) deposits, marketable securities and other assets, net 31,414   (288,663)      
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664      
    * Merger-contract termination fee received from Intel during 2023, net of associated cost, in the amount of $313,501  
    was included within the net cash provided by operating activities for the year ended December 31, 2023.  
     TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES  
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)  
    (dollars in thousands)  
      Year ended  
      December 31,   December 31,  
      2024   2023  
    CASH FLOWS – OPERATING ACTIVITIES        
    Net profit for the period $ 207,222   $ 519,530  
    Adjustments to reconcile net profit for the period        
    to net cash provided by operating activities:        
    Income and expense items not involving cash flows:        
    Depreciation and amortization * 266,279   258,021  
    Effect of exchange rate differences and fair value adjustment 133   (1,632)  
    Other expense (income), net 24,721   (7,047)  
    Changes in assets and liabilities:        
    Trade accounts receivable (60,169)   (3,160)  
    Other current assets (33,992)   (9,541)  
    Inventories 4,778   8,682  
    Trade accounts payable 35,784   (8,254)  
    Deferred revenue and customers’ advances (14,783)   (35,676)  
    Other current liabilities 22,021   (70,163)  
    Other long-term liabilities (3,312)   25,801  
    Net cash provided by operating activities 448,682   676,561 **
    CASH FLOWS – INVESTING ACTIVITIES        
    Investments in property and equipment, net (431,653)   (432,184)  
    Proceeds from (investments in) deposits, marketable securities and other assets, net 31,414   (288,663)  
    Net cash used in investing activities (400,239)   (720,847)  
    CASH FLOWS – FINANCING ACTIVITIES        
    Debt repaid, net (32,455)   (32,346)  
    Proceeds from investment in subsidiary —   1,932  
    Net cash used in financing activities (32,455)   (30,414)  
    EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGE (4,758)   (5,395)  
             
    INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,230   (80,095)  
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD 260,664   340,759  
    CASH AND CASH EQUIVALENTS – END OF PERIOD $ 271,894   $ 260,664  
    * Includes amortization of acquired intangible assets and stock based compensation in the amounts of $35,755  
    and $29,854 for the years ended December 31, 2024, and December 31, 2023, respectively.      
    ** Merger-contract termination fee received from Intel during the third quarter of 2023, net of associated cost, in the amount
    of $313,501 was included within the net cash provided by operating activities for the year ended December 31, 2023.
             

    The MIL Network –

  • MIL-OSI Economics: RBI announces OMO Purchase of Government of India Securities – Revised amount

    Source: Reserve Bank of India

    The Reserve Bank has announced OMO purchase of Government securities for an aggregate amount of ₹20,000 crore on February 13, 2025 vide Press Release 2024-2025/2106 dated February 07, 2025.

    2. On a review of current and evolving liquidity conditions, the aggregate amount of OMO purchase has now been revised to ₹40,000 crore.

    3. The terms and conditions of the auction along with the various Government securities to be purchased remain the same as announced in the aforementioned Press Release.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2122

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung TV Plus India Launches Five Exclusive FAST Channels from Warner Bros. Television

    Source: Samsung

     
    Samsung TV Plus, Samsung’s free ad-supported streaming TV (FAST) service, has collaborated with Warner Bros. to launch five new FAST channels exclusively on Samsung TV Plus India. These WBTV channels deliver premium storytelling to streaming audiences, meeting the demand for high quality, free entertainment. With a strong focus on Hindi programming, these new FAST channels are designed to engage both regional and urban audiences.
     
    Samsung TV Plus is a free streaming service that comes pre-installed on Samsung Smart TVs, offering a wide range of channels, including news, sports, entertainment, and more.
     
    Kunal Mehta, Head Partnerships and Business Development, Samsung TV Plus India, said “We are thrilled to welcome Warner Bros. Television to Samsung TV Plus. As a leader in FAST, we are committed to bringing top-tier content to our audiences. This partnership expands entertainment choices while delivering even more value and access to our viewers—and opportunities for advertisers.”
     
    Offering a diverse range of premium programming, the channels mentioned below are curated to captivate viewers on Samsung Smart TVs and mobile devices:
     
    House of Crime: A gripping destination for crime enthusiasts, offering a mix of intense dramas and intriguing investigative series in Hindi.
    Foodie Hub: A haven for culinary adventurers, featuring popular food shows, recipes, and gastronomic journeys, presented in Hindi.
    Wild Flix: A heart-warming gateway to the wonders of the animal kingdom, showcasing captivating insights into zoo life, and awe-inspiring animal rescue stories in Hindi.
    Wheel World: A high-octane destination for automobile enthusiasts, featuring exhilarating car and bike shows, and restoration stories from the best garages, presented in English.
    XXtreme Jobs: An adrenaline-pumping exploration of the world’s most daring professions, unearthing extraordinary workplaces and fearless individuals behind them, presented in Hindi.
    Ruchir Jain, Head of Distribution, Warner Bros. Discovery, South Asia, said: “At Warner Bros. Discovery, we are passionate about curating diverse and high-quality entertainment for our audiences. With connected TVs on the rise, we are excited to expand our presence on Samsung TV Plus through these new channels. Our partnership with Samsung TV Plus will enable us to bring our viewers the very best of WBTV.”

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung Galaxy S25 Series Off to a Flying Start in India as Customers Queue Up to Take Deliveries

    Source: Samsung

     
    Samsung, India’s biggest electronics company, today said that it received a record response for its flagship Galaxy S25 series in India, resulting in over 430,000 pre-orders. The pre-orders for Galaxy S25 series are 20% higher as compared to Galaxy S24 series in India.
     
    “Galaxy S25 Ultra, Galaxy S25+ and Galaxy S25 smartphones set a new standard as true AI companions with Samsung’s most natural and context-aware mobile experiences ever created. We have seen strong demand for the Galaxy S25 series among young tech-savvy consumers, who are at the forefront of Galaxy AI usage. This year, we widened our flagship distribution network to 17,000 outlets, which has helped us tap demand in smaller cities,” said Raju Pullan, Senior Vice President, MX Division, Samsung India.
     
    Samsung is manufacturing Galaxy S25 series at its Noida factory for consumers in India. The success of Galaxy S25 series reinforces Samsung’s belief that consumers will increasingly adopt seamless and intuitive AI solutions that impact their daily lives. For Galaxy S25 consumers in India, Google’s Gemini Live will be available in Hindi since the start, underscoring the importance of India for Samsung.
     
    On the Galaxy S25 series, AI agents with multimodal capabilities are integrated within the One UI 7 platform to perform complex tasks seamlessly across apps and enable natural user interactions through speech, text, videos and images. Now Brief provides tailored suggestions to guide through the day and Now Bar offers a new hub for ongoing activities. From enhanced productivity with Writing Assist to limitless creativity unleashed by Drawing Assist, the expanded capabilities of Galaxy AI continue to empower users in every aspect of their daily lives.
     
    Interactions with the Galaxy S25 series are also more intuitive. With just a single command, Gemini can effortlessly find a user’s favorite sports team’s schedule and add it to Samsung Calendar. Additionally, Google’s enhanced Circle to Search now gives users more helpful information with AI Overviews and one-tap actions.
     
    The Galaxy S25 series further refines and enhances the core capabilities that define the Galaxy experience. Powering the Galaxy S25 series globally, the Snapdragon® 8 Elite Mobile Platform for Galaxy fuels on-device processing for more responsive AI experiences. With unique customizations for Galaxy, including ProScaler9 and Samsung’s mobile Digital Natural Image engine (mDNIe), the Galaxy S25 series boasts enhanced AI image processing and display power efficiency. The newly introduced 50MP ultrawide camera sensor for the Galaxy S25 Ultra delivers epic shots from every range in exceptional clarity, while professional grade controls like Virtual Aperture and Samsung Log turn any photo or video into the ultimate visual experience.
     
    Starting February 7, the Galaxy S25 series will be available across retail stores and on Samsung.com as well as other online platforms. Galaxy S25 Ultra is available in Titanium Silverblue, Titanium Black, Titanium Whitesilver and Titanium Gray. Galaxy S25 and Galaxy S25+ come in Navy, Silver Shadow, Icyblue and Mint.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Raksha Mantri Shri Rajnath Singh inaugurates India, iDEX & Karnataka Pavilions at Aero India 2025 in Bengaluru

    Source: Government of India (2)

    Posted On: 10 FEB 2025 4:18PM by PIB Delhi

    Raksha Mantri Shri Rajnath Singh inaugurated the India, iDEX and Karnataka Pavilions at Aero India 2025 in Bengaluru, Karnataka on February 10, 2025. The India Pavilion is showcasing the design, development, innovation and manufacturing capabilities of the domestic defence industries through state-of-the-art products and technologies. It signifies the ‘Flight of Self-Reliance’ which encapsulates synergy among the three Services and the space sector and India’s journey towards becoming a global aerospace and defence powerhouse. After the inauguration, Raksha Mantri visited  various stalls set-up in the pavilion and interacted with the representatives of the companies, inspecting their products.

    At the India Pavilion, more than 275 exhibits are being displayed through various mediums, represented by complete defence ecosystem of the country including Defence PSUs, design houses and private companies including MSMEs and start-ups. The exhibits at the Central Area include a striking display of marquee platforms including Advanced Medium Combat Aircraft, Combat Air Teaming System and Twin-Engine Deck-Based Fighter. 

    At the iDEX Pavilion, leading innovators are displaying indigenously-developed products spanning a wide range of advanced domains including Aerospace, DefSpace, Aero Structures, Anti-drone systems, Autonomous Systems, Robotics, Communication, Cybersecurity, Surveillance & Tracking, Unmanned Ground Vehicles etc. The Pavilion will also feature a dedicated section highlighting the winners of the ADITI (Acing Development of Innovative Technologies with iDEX) scheme, showcasing their ground-breaking works in critical and niche technologies.

    Raksha Mantri unveiled three publications – iDEX Report 2024, iDEX Coffee Table Book and iDEX Finance Manual on the occasion. The iDEX Report and Coffee Table Book highlight the key milestones of the defence innovation ecosystem, celebrating the contributions of innovators & stakeholders. The iDEX Finance Manual simplifies the existing finance procedures to enhance the pace of projects, and facilitate ease of doing innovation for the iDEX winners.

    The Karnataka Pavilion is showcasing cutting-edge technologies from the defence and aerospace industries from the state. These innovations highlight Karnataka’s robust ecosystem in defence and aerospace, supported by over 2,000 SMEs. Deputy Chief Minister of Karnataka Shri DK Shiva Kumar was present on the occasion.

    ****

    VK/SPS/MJS/Savvy

    (Release ID: 2101326) Visitor Counter : 35

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: WAVES AI Art Installation Challenge

    Source: Government of India (2)

    Posted On: 10 FEB 2025 4:06PM by PIB Delhi

    Pioneering the Fusion of Creativity and Artificial Intelligence

    Introduction

    The AI Art Installation Challenge, organised by the Internet and Mobile Association of India in partnership with the Ministry of Information and Broadcasting, is a pioneering competition that brings together artists, designers, and AI enthusiasts to explore the fusion of artificial intelligence and artistic expression. Participants are invited to create immersive and interactive installations using AI-driven tools and techniques, pushing the boundaries of creativity and innovation. The challenge aims to highlight AI’s transformative potential in the arts while fostering engagement with investors, collaborators, and industry leaders. By bridging art and technology, it positions India at the forefront of AI-powered creative expression.

    This challenge is part of the Create in India Challenges, a flagship initiative under the World Audio Visual & Entertainment Summit (WAVES), which serves as a global platform for innovation in the Media & Entertainment (M&E) industry. Led by the Ministry of Information and Broadcasting, it has attracted over 70,000 registrations. With 31 competitions launched, it fosters creativity and global participation. As a premier industry forum, it drives collaboration, trade opportunities, and India’s emergence as a global creative hub. The summit, set to take place from 1st to 4th May 2025 at Jio World Convention Centre & Jio World Gardens, Mumbai, will provide a launchpad for visionary ideas and emerging talent.

    Eligibility Guidelines

    Submission Requirements

     

    1. Submit a prototype or mockup showcasing the installation’s feasibility and interactivity.

     

    1. Include a project description outlining the process, inspiration, and AI techniques used.

     

    1. Provide visual representations, such as sketches or 3D models.

     

    1. Upload a short video (up to 5 minutes) explaining the concept and demonstrating any prototypes or simulations.

     

    1. Entry deadline: 15th March 2025.

     

    Evaluation Criteria

     

    Disqualification Criteria

     

    1. Plagiarism or use of unauthorized content
    1. Non-compliance with submission and eligibility guidelines

     

    References:

     

    1. https://wavesindia.org/challenges-2025
    2. https://eventsites.iamai.in/Waves/ai-art/
    3. https://pib.gov.in/PressReleasePage.aspx?PRID=2048202

    Click here to download PDF

    *********

    Santosh Kumar/ Sarla Meena/ Saurabh Kalia

     

    (Release ID: 2101321) Visitor Counter : 76

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India’s Coal Boom

    Source: Government of India

    India’s Coal Boom

    Policies, Production, and Investments

    Posted On: 10 FEB 2025 3:49PM by PIB Delhi

     Introduction

    With the fifth-largest geological coal reserves globally and as the second-largest consumer, coal continues to be an indispensable energy source, contributing to 55% of the national energy mix. Over the past decade, thermal power, predominantly fueled by coal, has consistently accounted for more than 74% of our total power generation. Despite commendable strides in promoting renewable energy sources, the sheer growth in electricity demand necessitates a continued reliance on thermal power, with projections indicating its share to be 55% by 2030 and 27% by 2047. It is anticipated through comprehensive studies that coal demand in 2030 will likely reach 1462 MT and 1755 MT by 2047.

     

    Growth of the Coal Sector in December 2024

     

    As per the Index of Eight Core Industries (ICI), the coal sector registered the highest growth of 5.3% in December 2024, reaching 215.1 points compared to 204.3 points in December 2023. During April-December 2024, the coal industry index increased to 177.6 points from 167.2 points in the previous year, marking a 6.2% growth—the highest among all core industries.

    The Combined Index of Eight Core Industries showed an overall growth of 4.0% in December 2024 compared to the previous year. The index for April-December 2024 increased by 4.2% over the same period in FY 2023-24, emphasizing coal’s significant contribution to industrial expansion. Additionally, the coal sector accounts for about 50% of freight revenue for Indian Railways and provides direct employment to nearly 4.78 lakh individuals.

    India’s coal production has reached an all-time high of 997.82 million tonnes (MT) in FY 2023-24, marking a significant rise from 609.18 MT in FY 2014-15, with a Compound Annual Growth Rate (CAGR) of 5.64% over the past decade. In FY 2023-24 alone, production has surged by 11.71% compared to the previous year. Coal India Limited (CIL) remains the dominant producer, while SCCL and Others/Captive sources have also shown consistent growth, particularly in the last three years.

     

    State Governments also benefit significantly from coal revenues, with royalty, District Mineral Foundation (DMF) contributions, and State GST collections amounting to ₹31,281.7 crore in the fiscal year 2023-24.

     

    Dispatch of Coal

     

    The cumulative coal dispatch April 2024 to January 2025 has risen to 843.75 MT, marking 5.73% increase from 798.02 MT recorded during the corresponding period of the previous year. Mine opening permissions were granted for three new mines—Bhaskarpara, Utkal E, and Rajhara North (Central and Eastern). The Ministry of Coal remains committed to augmenting domestic production, reducing import dependence, and ensuring energy security for India.

     

    Indian Coal Sector Achieves Significant Import Reduction in FY 2023-24

     

    The Indian coal sector significantly reduced its import dependency in FY 2023-24, with only 110 MT classified as non-substitutable imports, by increasing domestic coal production. Between April and November 2024, coal imports declined by 5.35%, saving approximately $3.91 billion (₹30,007.26 crore). Notably, coal imports for domestic power plant blending fell by 23.56%. Supply from CIL and SCCL, along with captive sources, rose from 734 MT (2018-19) to 1149 MT (2023-24), while demand reached 1273 MT. Additionally, private sector coal production increased from 58 MT to 184 MT, further strengthening India’s energy self-sufficiency.

     

                    

    This decrease in imports and increase in domestic supply is enabled by various efforts of the government. The Ministry’s ‘Mission Coking Coal’ launched in 2022, aims to increase domestic coking coal production to 140 MT by FY 2029-30, thereby reducing dependency on imports in the steel sector. Other key strategies such as promoting commercial mining, expediting production from allocated blocks, and enhancing regional exploration (2525 sq. km by 2024) also play a crucial role. The introduction of the National Coal Mine Safety Report Portal and the Mine Closure Portal ensures responsible and transparent mining practices. The Ministry is considering the establishment of a Coal Trading Exchange to create a competitive and transparent market, further modernizing the sector.

     

    As of January 2025, the Ministry of Coal has allotted 184 mines, with 65 blocks receiving Mine Opening Permissions. Total production from these blocks has reached 136.59 MT, registering a 34.20% year-on-year increase. This is expected to exceed 170 MT target in FY 2024-25.

     

    Financial Incentive Scheme for Coal Gasification

     

    The Cabinet approved the scheme for promotion of Coal/Lignite Gasification Projects of Government PSUs and Private Sector, in January 2024. With a financial outlay of ₹8,500 crore, the scheme will provide Financial Assistance for coal gasification projects under three categories and aims to accelerate coal gasification, reduce carbon emissions, enhance energy security, and promote sustainable development.

     

    The scheme encourages both private companies and government PSUs to undertake coal gasification projects. For Category I, three applicants, Namely Bharat Coal Gasification and Chemicals Limited, CIL – GAIL Consortium and Coal India Limited were selected to be given Financial Incentives. New Era Cleantech Solution Private Limited was selected under Category III to be provided with Financial Incentive. The Request for Proposals (RFP) for Category-II was issued on May 15, 2024, and technical bids were opened on January 10, 2025. The selected applicants for financial incentives under Category-II are Jindal Steel and Power Limited, New Era Cleantech Solution Pvt. Ltd. and Greta Energy Limited.

     

    This initiative is a crucial part of India’s target to achieve 100 million tonnes of coal gasification by 2030, reflecting a shift towards advanced coal utilization technologies.

     

    Strengthening Coal Supply Chains

     

    To ensure uninterrupted coal supply, robust institutional mechanisms have been put in place, including an Inter-Ministerial Committee and coordination meetings with Railways and power sector stakeholders. As a result, coal stock at Thermal Power Plants now stands at 49 MT—sufficient for nearly 21 days, even amidst logistical restrictions during the Maha Kumbh period.

     

    To further enhance supply efficiency, the Ministry has launched the First Mile Connectivity (FMC) initiative, commissioning 39 projects with a total capacity of 386 MTPA. Additionally, the Rail-Sea-Rail (RSR) mode has successfully doubled coal movement from 28 MT in FY 2022 to 54 MT in FY 2024.

     

    Vesting Orders for Commercial Coal Mines

     

    A landmark policy reform came with the introduction of commercial coal mine auctions in 2020, encouraging private sector participation and modern technological adoption. The Ministry of Coal has recently issued vesting orders for seven coal mines under commercial coal mine auctions. The Coal Mine Development and Production Agreements (CMDPA) for these mines were signed on December 5, 2024.

    With the vesting of these mines, a total of 107 coal mines have been auctioned under commercial coal mine auctions, with a cumulative PRC of approximately 246.60 MTPA, generating estimated annual revenue of ₹34,000 crore and employment for about 3,33,000 people.

     

    Chintan Shivir 2.0: Deliberations on Energy Transition and Safety

     

    The Ministry of Coal organized Chintan Shivir 2.0 on January 7, 2025, focusing on coal sector reforms, energy transition, and safety measures. The forum underscored the importance of aligning coal mining with global sustainability goals and prioritizing worker safety. The discussions held emphasized on:

    • Enhancing production while integrating cleaner technologies
    • Reducing carbon emissions through coal gasification
    • Adoption of best practices for sustainability
    • Strengthening safety standards in mining operations

     

     

    The coal sector is embracing sustainability with large-scale afforestation efforts, with over 54.06 lakh saplings planted across 2,372 hectares in 2024. Under the ‘Ek Ped Maa Ke Naam’ campaign, over 1 million saplings were planted at 332 locations in 11 states. Additionally, 4,695 hectares of land have been identified for Accredited Compensatory Afforestation, and a total of 18,513 LKL of treated mine water has been provided to over 18.63 lakh people across 1,055 villages over the past five years.

     

    Workforce in the Coal Industry

     

    The total workforce in major coal companies under the Ministry of Coal is:

     

    • Coal India Limited (CIL): 3,30,318 employees
    • Singareni Collieries Company Limited (SCCL): 40,893 employees
    • NLC India Limited (NLCIL): 20,811 employees

     

    Mining operations follow stringent safety regulations under the Mines Act, 1952, including risk assessment, safety training, and medical screenings. Extensive healthcare services are provided to workers, with regular health check-ups to prevent occupational diseases.

     

    Central Sector Schemes of the Ministry of Coal

     

    The Ministry of Coal administers three key schemes:

     

    1. Exploration of Coal and Lignite – Identifies and categorizes coal/lignite resources, generating geological reports for auction/allocation. Promising areas undergo detailed exploration to upgrade resources to the ‘Proved’ category.
    2. Research & Development (R&D) – Overseen by the Standing Scientific Research Committee (SSRC), focusing on planning, budgeting, and implementing research projects for sector advancements.
    3. Conservation, Safety & Infrastructure Development – Under the Conservation and Development Act (CCDA), funds are provided for sand stowing, protective works, transport infrastructure, and mining safety improvements.

     

    The table below highlights the budget allocation and expenditure for Central Sector Schemes in the coal sector for 2023-24, with a total outlay of ₹843.5 crores and an expenditure of ₹299.09 crores.

     

     

    Conclusion

     

    The coal sector’s remarkable growth highlights its ability to meet the increasing demand from the energy and manufacturing industries. With initiatives like coal gasification, the sector is advancing toward India’s goal of achieving 100 MT of coal gasification by 2030, promoting cleaner and more efficient energy use.

     

    The Ministry of Coal remains steadfast in its commitment to boosting domestic coal production, reducing import dependency, and ensuring national energy security. As a key driver of economic progress, the sector continues to play a crucial role in the realization of Viksit Bharat, contributing to a self-reliant and developed India.

     

    References

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2009196

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099183

    https://coal.gov.in/sites/default/files/2021-01/productiondata_tenyear.pdf

    https://coaldashboard.cmpdi.co.in/dashboard.php#

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099549

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099889

    https://pib.gov.in/PressReleasePage.aspx?PRID=2099037

    https://coal.gov.in/sites/default/files/2024-09/05-09-2024qurt.pdf

    https://coal.nic.in/en/central-sector-schemes

    https://pib.gov.in/PressReleasePage.aspx?PRID=2100763

    Click here to download PDF

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    Santosh Kumar | Sarla Meena | Anchal Patiyal

    (Release ID: 2101314) Visitor Counter : 55

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  • MIL-OSI Asia-Pac: President of India to Inaugurate International Conference on Integrative Health Solutions in Delhi on the occasion of Unani Day tomorrow

    Source: Government of India

    President of India to Inaugurate International Conference on Integrative Health Solutions in Delhi on the occasion of Unani Day tomorrow

    The Government of India remains committed to advancing the development of Unani medicine, ensuring that it contributes meaningfully to public welfare and the overall health of the global community: Shri Prataprao Jadhav, Union Minister of State, (I/C) Ministry of Ayush

    Posted On: 10 FEB 2025 3:40PM by PIB Delhi

    President of India, Smt. Droupadi Murmu will inaugurate the two-day International Conference on Unani Day tomorrow at Vigyan Bhawan, New Delhi. Dr. Jitendra Singh, Minister of State (Independent Charge), Ministry of Science and Technology & Ministry of Earth Sciences and Shri Prataprao Jadhav, Minister of State (Independent Charge), Ministry of Ayush & Minister of State for Health and Family Welfare will also be present on the occasion.

    Every year the 11th of February marks Unani Day, celebrating the birth anniversary of eminent Unani physician, educator, and freedom fighter Hakim Ajmal Khan. The Central Council for Research in Unani Medicine (CCRUM), a premier research council under the Ministry of Ayush, Government of India, is hosting the distinguished International Conference on “Innovations in Unani Medicine for Integrative Health Solutions – A Way Forward” from February 11-12, 2025, at Vigyan Bhawan, New Delhi.

    While highlighting the growth of the Unani system of medicine and the focus of the Government towards integration of Ayush systems in mainstream healthcare, Shri Prataprao Jadhav, Union Minister of State, Independent Charge, Ministry of Ayush, said, “I am proud to witness the growing integration of Unani medicine into the global healthcare framework. By fostering innovation and collaboration, we aim to bring forward comprehensive healthcare solutions that honour our traditional practices while addressing modern health challenges. The Government of India remains committed to advancing the development of Unani medicine, ensuring that it contributes meaningfully to public welfare and the overall health of the global community.”

    While underlining the focus of the Government to boost scientific research activity in Ayush systems, Vaidya Rajesh Kotecha, Secretary, Ministry of Ayush, stated that “The establishment of research centres in the Ayush sector, the inclusion of Ayush in mainstream health policies, and integration of traditional systems into the broader health framework reflects India’s commitment to preserving and promoting our cultural heritage. This international conference aims to highlight the latest advances in Unani Medicine and their utility in holistic health systems.”

    The International Conference offers a dynamic platform for dialogue, collaboration, and knowledge exchange, aiming to highlight the pivotal role of Unani Medicine in the promotion of global health and well-being. Key Objectives of the Conference Include-Fostering Innovation: Exploring new frontiers in Unani medicine for integrative healthcare solutions; Global Collaboration: Facilitating knowledge-sharing among national and international experts in traditional and integrative medicine; Showcasing Achievements: Highlighting the latest research and advancements in Unani medicine by CCRUM.

    Key Highlights of the Event include- Scientific Sessions: Expert-led keynote addresses and discussions on integrating Unani medicine into modern healthcare; Exhibition: A vibrant display of innovations in Unani and herbal pharmaceuticals, educational institutions, research organisations, and service providers; Global Participation: Delegates from countries including the USA, South Africa, Iran, Malaysia, UAE, Tajikistan, Uzbekistan, Sri Lanka, and Bangladesh will contribute to insightful deliberations.

    On this occasion, several publications by CCRUM will be released, including the Souvenir of the International Conference. Additionally, NABL and NABH certificates will be awarded to CCRUM institutions. A short video showcasing the Council’s recent initiatives will also be launched. Furthermore, Certificates of Appreciation will be awarded for the best research papers, outstanding contributions to Unani medicine, and the best-performing institutions.

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    MV/AKS

    (Release ID: 2101306) Visitor Counter : 94

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  • MIL-OSI Asia-Pac: DPIIT and Korea Transport Institute Sign MoU to Boost Collaboration in Logistics and Infrastructure Development

    Source: Government of India

    Posted On: 10 FEB 2025 3:34PM by PIB Delhi

    A Memorandum of Understanding (MoU) on cooperation in logistics and infrastructure development between the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India (GoI) and the Korea Transport Institute (KoTI), Republic of Korea (RoK) was signed today at the Sejong National Research Complex, South Korea by Mr. Youngchan Kim, President of KOTI, and H.E. Amit Kumar, Ambassador of India to the Republic of Korea.

    The MoU will enhance cooperation in logistics and infrastructure development, leveraging KOTI’s expertise to support India’s ambitious infrastructure initiatives. Joint working meetings will be held for taking the initiative forward.

    Further, the MoU will establish a comprehensive mechanism for knowledge exchange and institutional cooperation between the Logistics Division, DPIIT and KOTI. This will help in the development of infrastructure and logistics master plans under the aegis of the prestigious program – PM GatiShakti National Master Plan.

    The key benefits of this collaboration include the establishment of a research-driven program that enhances expertise in logistics and infrastructure through knowledge exchange, training, and technical assistance. It will also foster cross-learning in areas such as master planning, technology adoption, and innovation. Additionally, the partnership will highlight the achievements under the PM GatiShakti initiative and promote GIS data-based technology on a global stage.

    This will mark a significant step towards strengthening bilateral ties and fostering innovation in the field of logistics and infrastructure development.

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    Abhishek Dayal/Abhijith Narayanan/Asmitabha Manna

    (Release ID: 2101298) Visitor Counter : 15

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Mine Water Management

    Source: Government of India

    Posted On: 10 FEB 2025 3:24PM by PIB Delhi

    Coal and Lignite Public Sector Undertakings (PSUs), namely Coal India Limited (CIL), NLC India Limited (NLCIL), and Singareni Collieries Company Limited (SCCL), are actively utilizing treated mine water from active and abandoned mines for drinking, irrigation, and industrial purposes.

    CIL is supplying mine water to 878 villages, benefiting about 11.74 lakh people, with 1111.32 Lakh Cubic Meters (LCM) utilized for irrigation, covering 7271 acres in FY 2024-25. CIL subsidiaries are also developing water bodies for fish farming. Existing Memorandum of Understanding (MoU) with Jharkhand State Government is to facilitate mine water utilization for community, whereas MoU between Western Coalfields Limited and Maharashtra State Power Generation Corporation Limited to provide excess mine water for industrial use.

    NLCIL is effectively utilizing mine water from its Neyveli lignite mines, with 601.20 LCM used for power generation, 140 LCM supplied as drinking water benefiting 9.55 lakh residents, and 381 LCM supplied for irrigation over 25,000 acres in FY 2024-25. NLCIL, in collaboration with the Government of Tamil Nadu, also supplies treated mine water for drinking purposes through the Chennai Metro Water Supply & Sewerage Board and Tamil Nadu Water Supply and Drainage Board.

    SCCL in the State of Telangana is also effectively utilizing mine water, with 357 LCM used for industrial purposes, 20.85 LCM supplied for domestic use, and 662.50 LCM supplied for irrigation in FY 2024-25, benefiting nearby communities. Surplus mine water is stored in agricultural tanks for irrigation, while water from abandoned mines is utilized for community use in surrounding villages for irrigation and domestic needs.

    This information was given by Union Minister of Coal and Mines Shri G. Kishan Reddy in a written reply in Rajya Sabha today.

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    Shuhaib T

    (Release ID: 2101294) Visitor Counter : 85

    MIL OSI Asia Pacific News –