Category: Business

  • MIL-OSI Canada: Canada and Quebec Invest in Sustainable Wood Construction

    Source: Government of Canada News (2)

    March, 20, 2025
    Ottawa, Ontario
    Natural Resources Canada

    Today, the Honourable Steven Guilbeault, Minister of Canadian Culture and Identity, Parks Canada and Quebec Lieutenant, along with the Minister of Natural Resources and Forests of Quebec, Maïté Blanchette Vézina, announced a joint contribution of over $8.5 million for four projects that will promote green construction in Quebec, including the use of low-carbon Canadian wood to accelerate new building projects. The Government of Canada is investing more than $4.7 million, while the Government of Quebec is contributing $3.83 million.

    The funding announced today includes:

    • $1 million for Les Chantiers Chibougamau Ltée from Natural Resources Canada’s (NRCan) Green Construction through Wood (GCWood) program and $1.33 million from the Programme d’innovation en construction bois of Quebec’s Ministry of Natural Resources and Forests. The project will:

    o       Develop a four-storey, 20-unit residential mass timber building using prefabrication and modular construction techniques.

    o    Demonstrate how we can deliver affordable housing using innovative wood-based products and technologies, including in remote communities and regions.

    • An additional $2 million for Les Chantiers Chibougamau Ltée from NRCan’s Investments in Forest Industry Transformation (IFIT) program and $2.5 million from the Programme Innovation Bois of Quebec’s Ministry of Natural Resources and Forests. This project will:

    o    Modernize production processes of finger-jointed lumber, glue-laminated, I-joists and cross-laminated timber through the innovative use of artificial intelligence.

    o    Support a strong Canadian supply of value-added advanced wood construction products.

    • $500,000 for Samcon Stanley Properties from NRCan’s Green Construction through Wood (GCWood) program. This project will:

    o    Develop the design for a 21-storey multi-unit residential building built from mass timber.

    o    Provide crucial data and insights into the feasibility of taller mass timber structures.

    • $1.2 million for the Cree First Nation of Waswanipi from NRCan’s Green Construction through Wood (GCWood) program. This project will:

    o    Build a two-storey low-rise community building with wood building technology.

    o    Ensure that the building’s shape and design preserve the historical culture of the Cree First Nation. 

    Through these investments, the Government of Canada and the Government of Quebec are further accelerating the adoption of cutting-edge residential construction technologies to drive down costs and help the industry access the made-in-Canada products it needs to build more homes for Canadians.

    MIL OSI Canada News

  • MIL-OSI Asia-Pac: India’s MSMEs in IT sector to play a key role in achieving ambitious $450 billion services export target: Shri Piyush Goyal

    Source: Government of India

    Posted On: 20 MAR 2025 9:02PM by PIB Delhi

    Recognizing the rapid growth of MSMEs in IT, tourism, business accounting, and financial services, Union Minister of Commerce & Industry, Shri Piyush Goyal, emphasized the sector’s key role in driving services exports and creating jobs. He said this while speaking at the Global Confluence 2025 organized by Nasscom in New Delhi today.

    Shri Goyal expressed confidence that the IT sector can achieve an ambitious $450 billion services export target in the next financial year. He underscored the critical role of the IT and IT-enabled services (ITES) sector in India’s economic growth. He noted that the services sector exports reached approximately $340 billion last year, with IT and ITES contributing nearly $200 billion. This year, services exports are expected to reach between $380 billion and $385 billion, further solidifying India’s global presence.

    Shri Goyal highlighted the importance of innovation and adaptability in maintaining India’s competitive edge. He praised Nasscom for fostering a culture of continuous learning, stating that the IT sector has consistently remained ahead of the curve by embracing new technologies such as quantum computing, artificial intelligence, and machine learning.

    He also stressed the need to attract Global Capability Centers (GCCs) to India, leveraging the country’s vast talent pool. Encouraging businesses to operate from India rather than relocating talent abroad, he said this would enhance foreign exchange earnings and fuel domestic economic growth.

    Discussing India’s expanding middle class and rising consumption levels, Shri Goyal outlined the cascading benefits of IT-led growth, including increased demand for commercial real estate, housing, and infrastructure. He called it a “virtuous cycle of growth” where a thriving services sector strengthens the overall economy.

    Nasscom, he noted, plays an omnipresent role across industries and must continue reskilling and retraining IT professionals to remain relevant in today’s fast-evolving landscape. He reiterated the government’s commitment to expanding global partnerships through Free Trade Agreements (FTAs) and bilateral engagements, emphasizing that numerous global markets are eager for India’s arrival.

    The Minister concluded by reaffirming confidence in India’s IT sector and MSMEs as key drivers of the country’s economic transformation in the Amrit Kaal, working collectively towards a developed and prosperous Viksit Bharat.

    ***

    Abhishek Dayal/ Abhijithb Narayanan/ Ishita Biswas

    (Release ID: 2113462) Visitor Counter : 201

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Government of India is democratizing Chip designing in India: India’s semiconductor moment has arrived

    Source: Government of India

    Government of India is democratizing Chip designing in India: India’s semiconductor moment has arrived
    Winners Announced: ‘Analog & Digital Design Hackathons’ (participated by 2,210 teams, 10,040 students)

    Boosting Indigenization: M/s Vervesemi Microelectronics Pvt. Ltd. to design BLDC Motor Controller Chip with 90% BOM ‘Made in India’

    Next Big Leap: Launch of ‘Digital India RISC-V (DIR-V) Grand Challenge’

    Posted On: 20 MAR 2025 8:05PM by PIB Delhi

    Understanding chip design as a strategic necessity, Ministry of Electronics and Information Technology (MeitY) with its series of graded and proactive steps, is in the process of systematic overhaul of semiconductor design approach at 300+ organizations across the country (including 250 academic institutions and 65 start-up companies). These steps aim to debut an era of creative enablement where anyone with innate skills, anywhere in the country can get the semiconductor chips designed. In the process, chip design will be democratized in line with the vision of Hon’blePrime Minister of India Shri Narendra Modi that –‘Design in India is as important as Make in India’.

    The C2S Programme aims to generate 85,000 number of industry-ready manpower at B.Tech, M.Tech, and PhD levels specialized in semiconductor chip design. The Programme takes a comprehensive approach by offering students complete hands-on experience in chip design, fabrication, and testing. This is achieved through regular training sessions, conducted in collaboration with industry partners, and by providing mentorship and access to chip design, fabrication & testing resources to students, including EDA tools, access to semiconductor foundries for fabricating their chips etc. These opportunities include implementing the R&D projects for development of working prototypes of ASICs, SoCs, and IP Core designs.

    ChipIN Centre has been setup under C2S Programme as one of the largest facilities established at C-DAC, aims to bring the chip design infrastructure at door-steps of semiconductor design community in the country. It is a centralized design facility, not only hosting the most advanced tools for entire chip design cycle going up to 5nm or advanced node but also provide aggregate services for fabrication of design at foundries and packaging.

    Under C2S Programme, following announcements were made by Hon’ble Minister- Shri Ashwini Vaishnaw with august presence of Secretary- Shri Krishnan, Additional Secretary- Shri Abhishek Singh and Group Coordinator- Smt Sunita Verma, MeitY on 20th March 2025.

    1. After intense rounds of coding, design challenges, and expert-led training, 40 elite teams, 200 innovators battled it out in the Grand Finale of the 100-hour deep-tech “Analog and Digital Hackathons” launched in partnership of AMD, Synopsys and CoreEL Technologies. Armed with EDA & cloud resources, they tackled real-world problems—enhancing LIVE image processing on FPGA hardware in Digital Design and optimizing complex voltage regulator circuits in Analog Design. Six winning teams were announced by Hon’ble Minister:

    Winners of the Analog Design Hackathon:

    1. 1st Prize winner to the Team Intuition from IIT Delhi.
    2. 2nd Prize Winner to Team Analog Edge from NIT Rourkela.
    3. 3rd Prize Winner to Team FETManiacs from IIT Guwahati.

    Winners of the Digital Design Hackathon:

    1. 1st Prize winner to the Team RISCB from IIT Bombay.
    2. 2nd Prize Winner to Team Silicon Scripters from Saveetha Engineering College.
    3. 3rd Prize Winner to Team Daedalus from IIT (BHU Varanasi).
    1. The indigenous development of the ‘BLDC Controller Chip’ was awarded to M/s Vervesemi Microelectronics Pvt. Ltd.

    This ‘BLDC Controller Chip’ has the following USP: 90% BOM made in India for self-reliant semiconductor solution, Complete power & control solution under $1.50 and Scalability at 10 million units/year.

    Vervesemi is a fabless semiconductor company incorporated in 2017 and developing high performance ASICs for sensors and wireless, exploiting the expertise of state-of-art data converters and differentiated Analog IP. The ICs of VerveSemi has been taped out on 8nm, 22nm, 28nm, 40nm, 55nm, 90nm, 180nm, 110nm node of Samsung, UMC, TSMC, SMIC PSMC.

    Supporting BLDC and SR motors <200W

     

    1. The launch of ‘Digital India RISC-V (DIR-V) Grand Challenge’ was announced – to start inviting applications from 10th April onwards. With VEGA Processors and SHAKTI Microprocessor at its core – the participants of DIR-V Grand Challenge will tinker innovative applications using them. The DIR-V Grand Challenge is technologically powered by VEGA Processor from C-DAC & SHAKTI Processor from IIT Madras with support from Renesas, LTSC, CoreEL Technologies and Bharat Electronics. MakerVillage will provide the coordination and incubation support.

    While addressing the gathering, Hon’ble Minister Shri Ashwini Vaishnaw stated that we must all collectively adopt three approaches for India to become a product nation.

    1. “While the country has made significant achievements in the service industry and it continues to grow, it must now become a product nation. Today’s announcements on developing software & hardware products are a few successful steps toward that goal.”
    2. These solutions should come from a broader category of stakeholders, involving partnerships across all tiers of academia, start-ups, students, and researchers, rather than just a select few.
    3. The incremental yet progressive approach needs to be ensured to achieve these solutions. Some chips may have low value but high deployment potential, while others may have high value but limited deployment potential. The entire spectrum should be targeted. While the BLDC Controller chip development announced today has significant volume deployment potential, RISC-V, being open-source, holds very high-value due to its use in designing CPUs, GPUs, and sustainable products for the country.

    India today presents a significant opportunity for aspiring entrepreneurs and researchers to be at the forefront of designing and redefining the semiconductor systems, devices and products of the future. “Chips to Start-up (C2S) Programme” of Government of India and MeitY in alignment with the nation’s unwavering commitment to building a robust and self-sustaining semiconductor ecosystem, is empowering the next generation of engineers, researchers and entrepreneurs to drive India’s technological advancements and propel the nation towards becoming a global powerhouse.

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    Dharmendra Tewari/ Navin Sreejith

    (Release ID: 2113411) Visitor Counter : 328

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: India’s IT sector to play a key role in achieving ambitious $450 billion services export target: Shri Piyush Goyal

    Source: Government of India (2)

    India’s IT sector to play a key role in achieving ambitious $450 billion services export target: Shri Piyush Goyal

    MSMEs driving rapid growth in IT and services exports

    Posted On: 20 MAR 2025 9:02PM by PIB Delhi

    Union Minister of Commerce & Industry, Shri Piyush Goyal called for a collective commitment from the government and the IT sector to achieve a $450 billion services export target. Recognizing the rapid growth of MSMEs in IT, tourism, business accounting, and financial services, Shri Goyal emphasized the sector’s high job creation potential. He expressed confidence at the inaugural session of NASSCOM Global Confluence 2025 in New Delhi today that in 2025-26, India’s services exports could surpass merchandise exports, with IT at the forefront. He called for a collective commitment from the government and the IT sector to achieve a $450 billion services export target.

    Shri Goyal underscored the critical role of the IT and IT-enabled services (ITES) sector in India’s economic growth. He noted that the services sector exports reached approximately $340 billion last year, with IT and ITES contributing nearly $200 billion. This year, services exports are expected to reach between $380 billion and $385 billion, further solidifying India’s global presence.

    Shri Goyal highlighted the importance of innovation and adaptability in maintaining India’s competitive edge. He praised NASSCOM (National Association of Software and Services Companies) for fostering a culture of continuous learning, stating that the IT sector has consistently remained ahead of the curve by embracing new technologies such as quantum computing, artificial intelligence, and machine learning.

    He also stressed the need to attract Global Capability Centers (GCCs) to India, leveraging the country’s vast talent pool. Encouraging businesses to operate from India rather than relocating talent abroad, he said this would enhance foreign exchange earnings and fuel domestic economic growth.

    Discussing India’s expanding middle class and rising consumption levels, Shri Goyal outlined the cascading benefits of IT-led growth, including increased demand for commercial real estate, housing, and infrastructure. He called it a “virtuous cycle of growth” where a thriving services sector strengthens the overall economy.

    NASSCOM, he noted, plays an omnipresent role across industries and must continue reskilling and retraining IT professionals to remain relevant in today’s fast-evolving landscape. He reiterated the government’s commitment to expanding global partnerships through Free Trade Agreements (FTAs) and bilateral engagements, emphasizing that numerous global markets are eager for India’s arrival.

    The Minister concluded by reaffirming confidence in India’s IT sector and MSMEs as key drivers of the country’s economic transformation in the Amrit Kaal, working collectively towards a developed and prosperous Viksit Bharat.

    Congratulating the winners of the SME Inspired 2025 Awards, he lauded their achievements and encouraged others to strive for excellence in the coming years.

     

    ***

    Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas

    (Release ID: 2113462) Visitor Counter : 54

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: President of India Smt. Droupadi Murmu visits the Udyam Utsav at Rashtrapati Bhavan

    Source: Government of India

    President of India Smt. Droupadi Murmu  visits the Udyam Utsav at Rashtrapati Bhavan

    The Utsav is open to the public from March 20, 2025 to 30, 2025 between 10 AM and 8 PM

    Posted On: 20 MAR 2025 7:57PM by PIB Delhi

    President Smt Droupadi Murmu visited the Udyam Utsav in the President’s Estate today. She visited the pavilions displaying various products ranging from handicrafts and food products to khadi products.

    The Ministry of MSME is organizing “Udyam Utsav” at Rashtrapati Bhavan from March 20, 2025, to March 30, 2025, an event to celebrate the spirit of MSMEs across the country, aimed to empower and encourage MSMEs, thereby bringing India’s vibrant heritage closer to its citizens at Rashtrapati Bhavan.

    The key highlights of the event include  :

    • Seven pavilions showcasing diverse product segments, including Heritage & Handicrafts, Organic & Agro-based products, Green MSME Technologies, Women Entrepreneurs, PM Vishwakarma & Tribal Entrepreneurs, Khadi & Village Industries (APRATIM), and MSME Business Support Pavilion.

    • Around 60 stalls, having products for sale and display by artisans and entrepreneurs.

    • A dedicated pavilion highlighting PM Vishwakarma Scheme of the Ministry of MSME and Tribal Entrepreneurs will showcase trades covered under the Scheme with toolkits and  live pottery demonstration.

    • Additional attractions include food stalls offering a variety of cuisine, AR/VR experiences, and traditional crafts. A model of Chandrayaan will be a central highlight ensuring an immersive experience.

    • Activities such as Hunar Sangeet, Nukkad Natak, Saree Draping Sessions, and Rajasthani Puppet Maker demonstrations will add vibrancy to the event.

    The Utsav is open to the public from March 20, 2025 to 30, 2025 between 10 AM and 8 PM. Entry will be through Gate Number 35 of the Rashtrapati Bhavan (where North Avenue meets Rashtrapati Bhavan). Online and free of cost Bookings can be done on https://visit.rashtrapatibhavan.gov.in/plan-visit/amrit-udyan/rE/mO

    ****

    SK  

    (Release ID: 2113404) Visitor Counter : 180

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: President of India Smt. Droupadi Murmu visits the Udyam Utsav at Amrit Udyan, Rashtrapati Bhavan

    Source: Government of India (2)

    President of India Smt. Droupadi Murmu  visits the Udyam Utsav at Amrit Udyan, Rashtrapati Bhavan

    The Utsav is open to the public from March 20, 2025 to 30, 2025 between 10 AM and 8 PM

    Posted On: 20 MAR 2025 7:57PM by PIB Delhi

    President Smt Droupadi Murmu visited the Udyam Utsav in the President’s Estate today. She visited the pavilions displaying various products ranging from handicrafts and food products to khadi products.

    The Ministry of MSME is organizing “Udyam Utsav” at Rashtrapati Bhavan from March 20, 2025, to March 30, 2025, an event to celebrate the spirit of MSMEs across the country, aimed to empower and encourage MSMEs, thereby bringing India’s vibrant heritage closer to its citizens at Rashtrapati Bhavan.

    The key highlights of the event include  :

    • Seven pavilions showcasing diverse product segments, including Heritage & Handicrafts, Organic & Agro-based products, Green MSME Technologies, Women Entrepreneurs, PM Vishwakarma & Tribal Entrepreneurs, Khadi & Village Industries (APRATIM), and MSME Business Support Pavilion.

    • Around 60 stalls, having products for sale and display by artisans and entrepreneurs.

    • A dedicated pavilion highlighting PM Vishwakarma Scheme of the Ministry of MSME and Tribal Entrepreneurs will showcase trades covered under the Scheme with toolkits and  live pottery demonstration.

    • Additional attractions include food stalls offering a variety of cuisine, AR/VR experiences, and traditional crafts. A model of Chandrayaan will be a central highlight ensuring an immersive experience.

    • Activities such as Hunar Sangeet, Nukkad Natak, Saree Draping Sessions, and Rajasthani Puppet Maker demonstrations will add vibrancy to the event.

    The Utsav is open to the public from March 20, 2025 to 30, 2025 between 10 AM and 8 PM. Entry will be through Gate Number 35 of the Rashtrapati Bhavan (where North Avenue meets Rashtrapati Bhavan). Online and free of cost Bookings can be done on https://visit.rashtrapatibhavan.gov.in/plan-visit/amrit-udyan/rE/mO

    ****

    SK  

    (Release ID: 2113404) Visitor Counter : 63

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Transforming India’s Agricultural and Dairy Sectors

    Source: Government of India

    Transforming India’s Agricultural and Dairy Sectors

    Recent Policy Decisions and Budgetary Provisions

    Posted On: 20 MAR 2025 6:49PM by PIB Delhi

    Summary

    • The Union Cabinet approved the Revised National Program for Dairy Development (NPDD) with an additional budget of ₹1,000 crore.
    • The Union Cabinet has also approved the Revised Rashtriya Gokul Mission (RGM) to boost the livestock sector, with an additional outlay of ₹1,000 crore.
    • The Union Budget 2025-26 has emphasized agriculture as the foremost engine of India’s development.
    • On January 1, 2025, the Union Cabinet approved continuation of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26.
    • On January 1, 2025, the Union Cabinet approved the extension of One-time Special Package on Di-Ammonium Phosphate (DAP) for the period from 01.01.2025 till further orders.
    • The Union Cabinet, on November 25, 2024, approved the launching of the National Mission on Natural Farming (NMNF) with a total outlay of Rs.2481 crore.
    • On October 3, 2024, the Union Cabinet approved the rationalization of all Centrally Sponsored Schemes (CSS) operating under Ministry of Agriculture and Farmer’s into two-umbrella Schemes viz. Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY), and Krishonnati Yojana (KY).
    • On October 3, 2024, the Union Cabinet approved the National Mission on Edible Oils – Oilseeds with a financial outlay of Rs 10,103 crore.

     

    Introduction

    On March 19, 2025, the Union Cabinet took two key decisions to further the development of agriculture, dairying and animal husbandry in India. Agriculture, animal husbandry, and dairying are the cornerstone of India’s economy. These sectors play a crucial role in ensuring rural employment and economic stability.

    The Union Cabinet approved the Revised National Program for Dairy Development (NPDD), a Central Sector Scheme, with an additional budget of ₹1,000 crore, bringing the total to ₹2,790 crore for the 15th Finance Commission period (2021-22 to 2025-26).

    Key Objectives of the Revised NPDD:

    • Improved milk procurement, processing capacity, and quality control.
    • Enhanced market access for farmers and better pricing through value addition.
    • Strengthening of the dairy supply chain to increase rural income and development.

    Components of the Revised NPDD:

    1. Component A: Focuses on improving dairy infrastructure.
    2. Component B: Dairying through Cooperatives (DTC) in partnership with Japan International Cooperation Agency (JICA).

    Expected Outcomes of Revised NPDD:

    • Establishment of 10,000 new Dairy Cooperative Societies.
    • Additional 3.2 lakh employment opportunities, 70% benefiting women.

    The Union Cabinet has also approved the Revised Rashtriya Gokul Mission (RGM) to boost the livestock sector, with an additional outlay of ₹1,000 crore, bringing the total budget to ₹3,400 crore for the 15th Finance Commission period (2021-22 to 2025-26).

    Key Additions to the Revised RGM:

    1. Heifer Rearing Centres: One-time assistance of 35% of capital cost for setting up 30 housing facilities for 15,000 heifers.
    2. Support for High Genetic Merit (HGM) Heifers: 3% interest subvention on loans taken by farmers to purchase HGM IVF heifers from milk unions/financial institutions.

    Ongoing Activities under RGM:

    • Strengthening of semen stations and Artificial Insemination (AI) network.
    • Bull production and breed improvement using sex-sorted semen.
    • Skill development and farmer awareness programs.
    • Establishment of Centres of Excellence and strengthening of Central Cattle Breeding Farms.

    Expected Outcomes of Revised RGM:

    • Increased incomes for 8.5 crore farmers engaged in dairying.
    • Scientific conservation of indigenous bovine breeds.

    India is the world’s largest producer of milk and the second-largest producer of fruits and vegetables. With a rising global demand for organic produce, value-added dairy products, and sustainable farming practices, the government has placed renewed emphasis on enhancing productivity, infrastructure, and market access for farmers. In the past six months, the Union Government has introduced key policy decisions aimed at modernizing these sectors. Through targeted investments, regulatory support, and infrastructure development, the government seeks to improve farmer incomes, ensure disease control in livestock, and bolster cooperative movements to benefit small and marginal farmers. A crucial component of this vision is the Union Budget 2024-25, which has made substantial allocations to agriculture, animal health, and rural development.

    Agriculture, Animal Husbandry, and Dairying Provisions in Union Budget 2024-25

    The Union Budget 2025-26 has emphasized agriculture as the foremost engine of India’s development, focusing on improving productivity, farmer incomes, rural infrastructure, and self-sufficiency in key commodities. The provisions also extend to animal husbandry, dairying, and fisheries, ensuring holistic growth in the primary sector.

    1. Agriculture Sector Provisions

    1.1 Prime Minister Dhan-Dhaanya Krishi Yojana

    • A new scheme targeting 100 low-productivity districts.
    • Focus on enhancing agricultural productivity, crop diversification, sustainable practices, irrigation, and post-harvest storage.
    • Likely to benefit 1.7 crore farmers.

    1.2 Rural Prosperity and Resilience Programme

    • A multi-sectoral initiative to address underemployment in agriculture.
    • Focus on skilling, investment, and technology-driven transformation.
    • Phase-1 to cover 100 agricultural districts.

    1.3 Mission for Aatmanirbharta in Pulses

    • A six-year mission with a focus on Tur, Urad, and Masoor.
    • Development of climate-resilient seeds and protein enhancement.
    • Assurance of remunerative prices through procurement by NAFED and NCCF for four years.

    1.4 Comprehensive Programme for Vegetables and Fruits

    • Promotion of vegetable and fruit production with efficient supply chains.
    • Focus on value addition, processing, and ensuring better market prices.
    • Implementation in partnership with states and farmer producer organizations.

    1.5 National Mission on High Yielding Seeds

    • Strengthening research for high-yield, pest-resistant, and climate-resilient seeds.
    • Commercial availability of over 100 seed varieties released since July 2024.

    1.6 Cotton Productivity Mission

    • A five-year mission to improve cotton yield and sustainability.
    • Promotion of extra-long staple cotton to benefit cotton-growing farmers.
    • Alignment with the 5F vision for textile sector growth.

    1.7 Kisan Credit Card (KCC) Loan Limit Enhancement

    • The loan limit under the Modified Interest Subvention Scheme raised from ₹3 lakh to ₹5 lakh.
    • Expected to benefit 7.7 crore farmers, fishermen, and dairy farmers.

    1.8 Urea Plant in Assam

    • A new urea plant with an annual capacity of 12.7 lakh metric tons at Namrup, Assam.
    • Expected to enhance self-sufficiency in urea production.

    2. Animal Husbandry and Dairying

    2.1 Makhana Board in Bihar

    • Establishment of a dedicated board to support makhana production, processing, and marketing.
    • Organization of makhana farmers into Farmer Producer Organizations (FPOs).

    2.2 Fisheries Development Framework

    • Special focus on Andaman & Nicobar and Lakshadweep Islands.
    • Sustainable harnessing of fisheries from the Exclusive Economic Zone and High Seas.
    • Expected to boost marine sector potential and increase exports.

    3. Credit and Financial Inclusion

    3.1 Grameen Credit Score

    • Public Sector Banks to develop a framework for SHG members and rural credit needs.

    3.2 Expansion of Credit for Micro Enterprises

    • Introduction of customized credit cards with a ₹5 lakh limit for micro-enterprises registered on the Udyam portal.
    • 10 lakh cards to be issued in the first year.

    4. Research and Infrastructure Development

    4.1 Gene Bank for Crops Germplasm

    • A second gene bank with 10 lakh germplasm lines for future food security.

    4.2 Research and Development in Agriculture

    • Enhanced support for private-sector-driven R&D.

    The Union Budget 2025-26 provisions for agriculture, animal husbandry, and dairying reflect the government’s commitment to boosting agricultural productivity, ensuring financial stability for farmers, and strengthening allied sectors.

    Overview of Cabinet Decisions Since October 2024

    1. Continuation of Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS)

    On January 1, 2025, the Union Cabinet approved continuation of the Pradhan Mantri Fasal Bima Yojana and Restructured Weather Based Crop Insurance Scheme till 2025-26 with an overall outlay of Rs.69,515.71 crore from 2021-22 to 2025-26. The decision will help in risk coverage of crops from non-preventable natural calamities for farmers across the country.

    In addition to the same, for large scale technology infusion in implementation of the scheme leading to increasing transparency and claim calculation and settlement, the Union Cabinet has also approved creation of Fund for Innovation and Technology (FIAT) with a corpus of Rs.824.77 crore.

    1. Extension of One-time Special Package on Di-Ammonium Phosphate (DAP)

    On January 1, 2025, the Union Cabinet approved the proposal of the Department of Fertilizers for extension of One-time Special Package on Di-Ammonium Phosphate (DAP) beyond the NBS subsidy @ Rs 3,500 per MT for the period from 01.01.2025 till further orders to ensure sustainable availability of DAP at affordable prices to the farmers. The tentative budgetary requirement for above would be approximately up to Rs. 3,850 crore.

    1. Increase in Minimum Support Price (MSP) for Copra for 2025 season

    The Cabinet Committee on Economic Affairs, on December 20, 2024, has given its approval for the Minimum Support Price (MSP) for copra for 2025 season. The government has increased MSP for milling copra and ball copra from Rs. 5250 per quintal and Rs. 5500 per quintal for the marketing season 2014 to Rs. 11582 per quintal and Rs. 12100 per quintal for the marketing season 2025, registering a growth of 121% and 120%, respectively. A higher MSP will not only ensure better remunerative returns to the coconut growers but also incentivize farmers to expand copra production to meet the growing demand for coconut products both domestically and internationally.

    1. Launch of National Mission on Natural Farming

    The Union Cabinet, on November 25, 2024, approved the launching of the National Mission on Natural Farming (NMNF) as a standalone Centrally Sponsored Scheme under the Ministry of Agriculture & Farmers’ Welfare. The scheme has a total outlay of Rs.2481 crore (Government of India share – Rs.1584 crore; State share – Rs.897 crore) till the 15th Finance Commission (2025-26).

    • National Mission on Natural Farming (NMNF) promotes NF to ensure safe, nutritious food and reduce farmers’ dependency on external inputs. It aims to enhance soil health, biodiversity, climate resilience, and sustainable agriculture.
    • Natural Farming (NF) is a chemical-free farming method based on traditional knowledge, local agro-ecological principles, and diversified cropping systems.
    • NF reduces input costs, soil degradation, and health risks from fertilizers and pesticides, ensuring nutritious food and climate resilience.
    1. Launch of PM Rashtriya Krishi Vikas Yojana (PM-RKVY) and Krishonnati Yojana (KY)

    On October 3, 2024, the Union Cabinet approved the proposal of the Department of Agriculture & Farmers Welfare (DA&FW) for rationalization of all Centrally Sponsored Schemes (CSS) operating under Ministry of Agriculture and Farmer’s into two-umbrella Schemes viz. Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY), and Krishonnati Yojana (KY).  

    PM-RKVY will promote sustainable agriculture, while KY will address food security & agricultural self-sufficiency. The PM-RKVY and KY are being implemented with total proposed expenditure of Rs.1,01,321.61 crore. These Schemes are implemented through the State Governments. Out of the total proposed expenditure of Rs.1,01,321.61 crore the projected expenditure towards central share of DA&FW is Rs.69,088.98 crore and states share is Rs.32,232.63 crore. This includes Rs.57,074.72 crore for RKVY and Rs.44,246.89 crore for KY.

    1. Approval of National Mission on Edible Oils – Oilseeds

    On October 3, 2024, the Union Cabinet approved the National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds), a landmark initiative aimed at boosting domestic oilseed production and achieving self-reliance in edible oils. The Mission will be implemented over a seven-year period, from 2024-25 to 2030-31, with a financial outlay of Rs 10,103 crore.

    The mission aims to increase primary oilseed production from 39 million tonnes (2022-23) to 69.7 million tonnes by 2030-31. Together with NMEO-OP (Oil Palm), the Mission targets to increase domestic edible oil production to 25.45 million tonnes by 2030-31 meeting around 72% of our projected domestic requirement.

    Welfare Schemes for Agriculture, Dairying and Animal Husbandry by the Indian Government

    • Pradhan Mantri Kisan Samman Nidhi (PM-KISAN): Launch of PM-KISAN in 2019 an income support scheme providing Rs. 6000 per year in 3 equal instalments. So far, more than Rs. 3.46 lakh crore has been disbursed to over 11 crore farmers through 18 instalments. On February 24, 2025, the government released the 19th instalment of the PM-KISAN scheme. Over 9.8 crore farmers including 2.41 crore female farmers across the country will be benefitted through the 19th instalment release, receiving direct financial assistance exceeding ₹22,000 crore through Direct Benefit Transfer (DBT) without involvement of any middlemen.
    • Pradhan Mantri Kisan Maandhan Yojana: PMKMY is a central sector scheme, is a voluntary and contributory pension scheme for the entry age group of 18 to 40 years with a provision of Rs. 3000/- monthly pension on attaining the age of 60 years, subject to exclusion criteria. Since the inception of the scheme, over 24.67 lacs small and marginal farmers have joined the PMKMY scheme.
    • Pradhan Mantri Fasal Bima Yojana: PMFBY was launched in 2016 addressing problems of high premium rates for farmers and reduction in sum insured due to capping. In past 8 Years of implementation. In past 8 Years of PMFBY implementation, 63.11 crore farmer applications have been enrolled and over 18.52 crore (Provisional) farmer applicants have received claims of over Rs. 1,65,149 crore. During this period nearly Rs. 32,482 crore were paid by farmers as their share of premium against which claims over Rs. 1,65,149 crore (Provisional) have been paid to them. Thus, for every Rs. 100 of premium paid by farmers, they have received about Rs. 508 as claims.

    ​​​​​​​

    • National Livestock Mission (NLM): The focus of the scheme is towards employment generation, entrepreneurship development; increase in per animal productivity and thus targeting increased production of meat, goat milk, egg and wool. An outlay of Rs. 324 crores have been allocated during the year 2024-25 for this mission.
    • Animal Husbandry Infrastructure Development Fund (AHIDF): The scheme envisaged for incentivizing investments by individual entrepreneurs, private companies, MSME, Farmers Producers Organizations (FPOs), and Section 8 companies to establish dairy processing and value addition infrastructure, meat processing and value addition infrastructure, animal feed plant, breed improvement technology and breed multiplications farms, veterinary drugs and vaccine infrastructure and waste to wealth management. Further, the Dairy Infrastructure Development Fund (DIDF) has been subsumed in the AHIDF and revised outlay is now Rs. 29610 crore.
    • National Animal Disease Control Programme (NADCP): Launched in 2019, the program is the largest of its kind globally, targeting the eradication of FMD and Brucellosis by 2030. Over 99.71 crore vaccinations against Foot and Mouth Disease (FMD) in cattle and buffaloes, benefitting 7.18 crore farmers have been made so far.

    Conclusion

    The government’s recent decisions and budgetary provisions reflect a strong push towards modernization, infrastructure development, and sustainability in agriculture, animal husbandry, and dairying. The focus on disease control, cooperative strengthening, and technological innovation will contribute to improving productivity and farmers’ incomes, ensuring the long-term growth of these vital sectors.

    References

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2112791

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2112788

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2089249

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2089258

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2086629

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2077094

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2061649

    https://pib.gov.in/PressReleseDetail.aspx?PRID=2061646

    https://pib.gov.in/PressReleasePage.aspx?PRID=2098404

    https://pib.gov.in/PressReleasePage.aspx?PRID=2098401

    https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1897084

    https://pib.gov.in/PressReleseDetailm.aspx?PRID=1985479

    https://pib.gov.in/FactsheetDetails.aspx?Id=149098

    https://pib.gov.in/PressReleasePage.aspx?PRID=2105745

    https://pib.gov.in/PressReleasePage.aspx?PRID=2086052

    https://www.instagram.com/airnewsalerts/p/DAqvpYOoVgI/

    https://x.com/pmkisanofficial/status/1891741181614133264/photo/1

    www.linkedin.com/posts/agrigoi_agrigoi-naturalfarming-nmnf-activity-7288065904469229568-7OdL

    https://static.pib.gov.in/WriteReadData/specificdocs/documents/2025/feb/doc202521492701.pdf

    Kindly find the pdf file 

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    Santosh Kumar | Ritu Kataria | Rishita Aggarwal

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Leveraging Non-conventional Data Sources for Official Statistics

    Source: Government of India

    Posted On: 20 MAR 2025 6:45PM by PIB Delhi

    The brainstorming session on Leveraging Non-Conventional Data Sources for Official Statistics, of Ministry of Statistics and Programme Implementation (MoSPI), was concluded on 20th March, 2025 at Vigyan Bhawan, New Delhi.

    The inaugural session of the event was addressed by Sri Kris Gopalakrishnan, Chairman Axilor Ventures and Co-founder of Infosys, Sri Rana Hasan, Regional Lead Economist, South Asia, Asian Development Bank (ADB), Sri Shombi Sharp, UN Resident Coordinator (UNRC), and Dr. Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation.

    Sri Kris Gopalakrishnan, one of the co-founders of Infosys, Chairman, The Council, IISc Bangalore, and the Chairman, Board of Governors of IIIT, Bangalore, in his keynote address, underpinned the importance of the non-conventional data by citing success of Aadhar, primarily developed as a tool of citizen services, however, now used for developing various applications. He said that in view of India’s tremendous potential in technology, it can lead from front in respect of using non-conventional datasets for decision making.

    He impressed upon the need of standardization of various datasets, strengthening data processing capabilities, and developing data governance framework. He emphasized further that there is a need for evolving a framework enabling access to private data, legally backed and for rightful usages. In addition, he underlined that there is a need of fostering data literacy amongst all stakeholders so that the non-conventional sources are effectively used. Further, he opined that a single source of data would empower not only to the data producers but also to the entrepreneurs. He concluded by stating that the deliberations like this would strengthen formalizing the non-conventional data sources.

    Dr. Saurabh Garg, Secretary, MoSPI, impressed upon the importance of such sessions for encouraging a concerted effort of all stakeholders for the optimal usages of available in the ecosystem. He urged upon the representatives of the Central Ministries/Departments, including the Statistical Advisors to explore the possibility of reusing datasets generated by the other agencies. Further, he also mentioned that the culture of data sharing, however, maintaining the sanctity of Personally Identifiable Information (PII) must be fostered in the working of all the stakeholders.

    Sri Shombi Sharp, UNRC in his address shared some best practices regarding the citizen generated data and their usages in the official statistics especially in achieving the SDGs. Besides, he also emphasized upon a greater collaboration amongst the stakeholders to capitalize the full potentials of all possible alternate datasets.   

    Sri Rana Hasan in his presentation demonstrated the power of combining various datasets for an improved decision making.  He noted that the cities are hubs of growth and innovation, and thus India’s ongoing urbanization should be appropriately leveraged. He observed further that since the industrial parks are affecting neighboring settlements, they should be catalysed for structural transformation.

    The first technical session invited presentations from Shri. M. C. Gaur, Addl. Surveyor General (NZ), Survey of India; Shri. Ayago Wambile, Senior Economist, World Bank; Prof. Bappaditya Mukhopadhyay, Expert in Analytics, Great Lakes Institute of Management, New Delhi; and Shri. Ankur Bansal, Founder, GDi Partners. This session was moderated by Sh. P. R. Meshram, Director General (Data Governance), MoSPI.

    Sh. Gaur from Survey of India, in his presentation, highlighted the relevance of linking statistical data to geospatial locations and making the same easily accessible to various data users. While Shri. Wambile from World Bank, spoke about different non-traditional data sources such as, scanner data, mobile phone data, etc that can be leveraged to supplement the official statistical data in the country. Prof Mukhopadhyay from Great Lakes Institute of Management, presented a specific use case of using satellite data to assess SDG at district and sub-district levels over time. Shri Bansal from GDi Partners thereafter, brought attention to objectives, challenges, and potential way forward of using non-traditional data sources along with illustrations of use of such data sets by NSOs across the world.

    The second technical session invited presentations from Ms. Tanusree Deb Barma, Deputy Director General, UIDAI, M/o Electronics and Technology; Prof. Shalabh, Professor of Statistics & Data Science, IIT Kanpur; Shri Srinivasa Rao Sitiraju, DD, BGWSA, NRSC, Department of Space, ISRO; and Dr. Karan Nagpal, India Regional Director, IDinsight, New Delhi, India. The session was moderated by Ms. Geeta Singh Rathore, Director  General (NSS), MoSPI.

    Ms. Tansuree from M/o Electronics and Technology, provided an overview of the Aadhar Ecosystem and presented areas where non-traditional data is being used for authentication of data, identification of bugs, etc. Further, Shri Sitiraju from ISRO, presented various types and aspects of Geospatial data being collected by ISRO and products built using them within the official data ecosystem. Dr. Shalabh from IIT Kanpur, thereafter, presented a specific use case of grievance redressal mechanism leveraging emerging technologies for deriving insights from grievance data collected by Government of India, while Dr. Nagpal from IDinsight presented various use cases of alternative datasets and their usages in generating macro indicators. He, specifically, discussed various usages in price data in official statistics.

    The event has been attended by around 150 delegates, ranging representations from the central Ministries/Departments, UN agencies, Think Tanks, Independent organisations, and Universities and research institutions.

    The deliberations of the brainstorming session would be a sine qua non for the data innovation involving tapping into alternative data gathered from new or non-conventional data sources and combining and enhancing existing data sources with that new data to gain additional insights.

    One of the significant takeaways of the brainstorming session is that the digital revolution provides abundant opportunities to improve the way services are delivered, including harnessing valuable data and insights into products, services, and customer behaviors. Such data innovations are rapidly changing institutions and the data sources available to them. A well-designed intertwining of various data sources may provide better comprehension resulting into improved health care system, Strong supply chains and logistics, Convenient travel, Smart farming, and a transparent FinTech ecosystem.

    Further, it was discussed that the Ministries/Departments may use the alternative datasets for the real time monitoring and tracking the decision variables. In addition, it also emerged that the Ministries/Departments may make available Alternative/Administrative datasets to various stakeholders so that their integration with Census/Survey data may become possible.  Besides, it emerged that there should be concerted efforts of all the stakeholders for creation of enabling environment so that all possible data sources, Conventional and Non-Conventional are used for decision making.  

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    Samrat/ Allen

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  • MIL-OSI Asia-Pac: International Day of Forests 2025

    Source: Government of India

    International Day of Forests 2025

    India’s Integrated Vision for Forests, Food, and Sustainability

    Posted On: 20 MAR 2025 6:35PM by PIB Delhi

    Introduction

    Forests are the lifelines of our planet, providing oxygen, food, medicine, and livelihoods to millions. Beyond their ecological significance, forests are pillars of global food security, offering essential resources such as fruits, seeds, roots, and wild meat, which support indigenous and rural communities. Every year on March 21, the world celebrates the International Day of Forests to celebrate all types of forests, recognize the importance of trees and forests, and take action to protect them.

    In year 2012, the United Nations declared March 21 as the International Day of Forests (IDF) to celebrate and raise awareness about the vital role of forests. Every year a new theme is chosen by the Collaborative Partnership on Forests. The theme for this year is “Forests and Food,” which emphasizes the deep connection between forests and global food security.

    In India forests are deeply intertwined with culture, economy, and biodiversity, and their protection is not just an environmental necessity but a fundamental responsibility. In this direction, the Ministry of Environment, Forest and Climate Change and related ministries of Government of India have launched various schemes that link forests to food security, nutrition, and livelihoods.

    National Agroforestry Policy

    Agroforestry is a sustainable land-use system that integrates trees and crops to enhance agricultural productivity, improve soil fertility, and provide an additional income source for farmers. Recognizing its potential, the Government of India introduced the National Agroforestry Policy in 2014 to promote tree plantation in farmland.

    Objectives of the Scheme

    The National Agroforestry Scheme aims to encourage farmers to adopt agroforestry for climate resilience, environmental conservation, and economic benefits.

    Implementation Strategy

    The scheme emphasizes the production and distribution of Quality Planting Material (QPM) through nurseries and tissue culture units. The ICAR-Central Agroforestry Research Institute (CAFRI) is the nodal agency responsible for providing technical support, certification, and training. Various institutions such as ICFRE, CSIR, ICRAF, and state agricultural universities collaborate to implement the program effectively.

    Market and Economic Support

    To make agroforestry profitable, the scheme supports farmers through price guarantees and buy-back options for farm-grown trees. It also encourages private sector participation in the marketing and processing of agroforestry products. Additionally, agroforestry integrates well with India’s strategy to promote millets, as millets thrive in tree-based farming systems.

    Funding and Support Interventions

    The government provides financial assistance for the establishment of nurseries and research projects.

    Green India Mission

    The Green India Mission (GIM) also known as National Mission for a Green India, is a key part of India’s National Action Plan on Climate Change (NAPCC). It is one of the eight missions under NAPCC. The mission aims to protect, restore, and enhance India’s forest cover while tackling climate change. GIM focuses on improving biodiversity, water resources, and ecosystems like mangroves and wetlands, all while helping absorb carbon. The activities under GIM were started in the FY 2015-16.

    Mission Goals:

    • Expand forest/tree cover by 5 million hectares (mha) and improve the quality of another 5 mha of forest and non-forest land.
    • Boost ecosystem services like carbon storage, water management, and biodiversity.
    • Improve livelihoods for 3 million households by increasing income from forest-based activities.

    Sub-Missions:

    GIM has five sub-missions, each focused on a different aspect of greening:

    1. Enhancing Forest Cover – Improving Forest quality and ecosystem services.
    2. Ecosystem Restoration – Reforesting and increasing forest cover.
    3. Urban Greening – Adding more trees in cities and nearby areas.
    4. Agro-Forestry & Social Forestry – Boosting biomass and creating carbon sinks.
    5. Wetland Restoration – Reviving critical wetlands.

    Ecosystem Services Improvement Project (ESIP)

    The Green India Mission is working on the Ecosystem Services Improvement Project (ESIP), a World Bank-backed initiative in Chhattisgarh and Madhya Pradesh.

     

    Funding and Expenditure

     

    As of July 2024, Rs. 909.82 crores have been allocated to 17 states and one Union Territory for plantation and eco-restoration over 155,130 hectares. In Maharashtra’s Palghar district, 464.20 hectares in Dahanu Division have been covered under GIM for plantation and eco-restoration.

     

    Forest Fire Prevention & Management Scheme

    The Forest Fire Prevention & Management is a Centrally Sponsored Scheme that supports states and Union Territories in preventing and controlling forest fires. The Ministry provides financial assistance to help implement various fire prevention and management measures.

    India has a forest fire detection system managed by the Forest Survey of India, Dehradun. It uses remote sensing technology to detect and share information about forest fires in near real-time. This system plays a crucial role in the early detection and effective management of forest fires across the country. The Ministry has also constituted a Crisis Management Group under the chairmanship of Secretary (EF&CC) to deal with crises arising as a result of forest fires.

    Source: India State of Forest Report (ISFR) 2023

    Objectives of the scheme

     

    The scheme aims to reduce forest fire incidents and restore productivity in affected areas. It emphasizes the involvement of local communities in forest protection and contributes to maintaining environmental stability. Developing a fire danger rating system and forecasting methods is also a key objective. The scheme encourages the use of modern technology, such as Remote Sensing, GPS, and GIS, to enhance fire prevention efforts. Additionally, it seeks to improve knowledge about the impact and behaviour of forest fires.

    Implementation

     

    Following the recommendations of the Parliamentary Committee and NGT’s directions, the Ministry has developed the National Action Plan on Forest Fire. It is based on a study with the World Bank and consultations with key stakeholders like State Forest Departments and the National Disaster Management Authority. In addition to forest fire detection, the Forest Survey of India (FSI), under the Ministry of Environment, Forest and Climate Change, has developed a satellite-based Forest Fire Monitoring and Alert System. This system helps in the timely detection and monitoring of forest fires. Fire alerts are sent via SMS and email to registered users, ensuring quick response and better fire management.

    Van Dhan Yojana

    Launched in 2018 by the Ministry of Tribal Affairs and TRIFED, the Pradhan Mantri Van Dhan Yojana (PMVDY) aims to improve the livelihood of tribal communities by enhancing the value of forest produce. The scheme helps tribal gatherers become entrepreneurs through skill training, infrastructure support, and market linkages.

    Formation of Van Dhan Vikas Kendras (VDVKs)

    Under this initiative, tribal communities form Van Dhan Vikas Kendras (VDVKs), each consisting of 300 members from 15 Self-Help Groups (SHGs). These Kendras serve as hubs for processing, value addition, and marketing of Minor Forest Produce (MFPs).

    Financial Support and Implementation

    The scheme is a centrally funded, with ₹15 lakh allocated per Kendra. Tribal members contribute ₹1,000 each to ensure ownership. The government also supports branding, packaging, and global market access for tribal products.

    Two-Stage Implementation

    1. Stage I: Establishment of 6,000 Kendras across tribal districts with basic facilities.
    2. Stage II: Scaling up successful Kendras with better infrastructure, such as storage and processing units.

    Impact and Benefits

    PMVDY generates sustainable livelihoods, promotes forest conservation, discourages tribal migration, and strengthens the tribal economy, making it a key initiative for India’s tribal development.

    Conclusion

    India’s commitment to forest conservation and sustainable development is evident through various initiatives like the National Agroforestry Policy, Green India Mission, Forest Fire Prevention & Management Scheme, and Van Dhan Yojana. These programs not only help restore and protect forest ecosystems but also enhance livelihoods, promote climate resilience, and strengthen food security. On International Day of Forests 2025, it is crucial to reaffirm our dedication to preserving forests as vital resources for future generations. By integrating conservation efforts with community participation and sustainable policies, India continues to pave the way for a greener, healthier, and more prosperous future.

    References:

    International Day of Forests 2025

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    Santosh Kumar/ Sheetal Angral/ Priya Nagar

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  • MIL-OSI Asia-Pac: India’s Trade and Economic Outlook

    Source: Government of India (2)

    Posted On: 20 MAR 2025 6:10PM by PIB Delhi

     RBI Bulletin (March 2025): Navigating the Trade Deficit, Exports, and Economic Shifts

    In an era marked by escalating global trade tensions and persistent geopolitical uncertainties, the Indian economy has demonstrated remarkable resilience and robust growth. The above findings are from Reserve Bank of India’s March 2025 bulletin which highlights the state of the economy in the country. The latest data-driven analysis underscores the strength of domestic fundamentals amidst a volatile global backdrop. While global economic uncertainties persist, India’s economy shows strong growth, supported by robust consumption and government spending. Inflation has moderated, and policy measures have helped stabilize market liquidity. However, foreign portfolio outflows and currency depreciation remain key risks.

    Domestic Economic Developments

    Resilient GDP Growth Amidst Global Challenges

    • India’s GDP is projected to grow by 6.5% in FY 2024-25, according to NSO’s Second Advance Estimates.
    • Quarter 3 GDP growth was 6.2%, rebounding from 5.6% in Q2 due to higher private consumption and government spending.
    • Sectors driving growth: construction, trade, and financial services.

    Foreign Portfolio Outflows & Currency Risks

    • Sustained foreign portfolio investor (FPI) outflows put pressure on stock markets and the rupee.
    • However, domestic investors increased their holdings, stabilizing market ownership structures.
    • Rupee depreciation risks remain due to external uncertainties.

    Inflation Trends: Headline Inflation Eases

    • CPI inflation fell to a 7-month low of 3.6% in February 2025, mainly due to a decline in vegetable prices.
    • However, core inflation (excluding food & fuel) rose to 4.1%, indicating persistent price pressures.

    Employment Trends

    • Manufacturing employment grew at the second-fastest rate since the PMI survey began.
    • Services sector employment also expanded significantly, reflecting strong demand.
    • Urban unemployment remains at a historic low of 6.4%.

    Trade & External Sector

     

    Import and Export Trends

    • Exports grew marginally by 0.1% to $395.6 billion from April 2024-Feb 2025 but merchandise exports declined by 10.9% YoY in February, largely due to base effects and weak global demand.
    • Top-performing export sectors: electronics, rice, and ores.
    • Weak export sectors: petroleum products, engineering goods, chemicals, and gems & jewellery.
    • Imports increased by 5.7% to $656.7 billion, driven by gold, electronics, and petroleum during April 2024-Feb 2025, however it fell by 16.3% in Feb 2025, leading to a narrowing trade deficit.
    • Oil and gold imports dropped significantly, contributing to the decline in overall imports.
    • Imports of electronic goods and machinery remained strong, reflecting domestic investment demand.

    Financial & Monetary Policies

    RBI’s Liquidity Management

    • RBI used open market operations (OMO), daily repo auctions, and dollar/rupee swaps to manage liquidity.
    • These measures helped stabilize domestic liquidity despite capital outflows.

    Sector-Specific Developments

    Agriculture Sector

    India’s foodgrain production for 2024-25 is estimated at 330.9 million tonnes, marking a 4.8% increase from 2023-24, driven by kharif production up 6.8% and rabi up 2.8%, according to second advance estimates.

    Automobile Sector

    • Car and motorcycle sales declined in February due to weaker demand.
    • Tractor sales saw double-digit growth, indicating strong rural economy demand.

    Infrastructure & Construction

    • Toll collections and E-way bills recorded double-digit growth, signalling robust infrastructure activity.
    • Government spending on infrastructure projects supported economic momentum.

    Global Setting

    Trade War & Tariffs Impacting Growth

    • The global economy entered 2025 with strong momentum but is now slowing due to increased protectionism and trade restrictions.
    • US-China tariff escalations could reduce US GDP growth by 0.6 percentage points in 2025 and shrink the economy by 0.3-0.4% in the long run.
    • OECD lowered global GDP forecasts to 3.1% in 2025 and 3.0% in 2026 due to slowing demand.

    Market Volatility & Currency Fluctuations

    • US dollar lost gains made since November 2024 due to trade policy uncertainty.
    • European bond yields surged as Germany and others increased military spending.
    • Equity markets worldwide have been volatile, reflecting fears of slowing growth.

    Commodity Markets & Inflationary Pressures

    • Global oil prices fell 15% since mid-January 2025 due to reduced demand expectations.
    • Gold prices hit a record high of $3000 per ounce due to investor flight to safety.
    • Food production outlook improved, with cereal production exceeding 2024 levels.

    Conclusion

    Despite global economic headwinds, India’s growth remains stable at 6.5%, supported by strong domestic demand. Inflation is under control, though core inflation remains sticky, necessitating careful monetary management. Trade challenges persist due to weak global demand, but a narrowing trade deficit offers some relief. While foreign investor outflows pose risks, robust domestic investment provides resilience. The RBI’s proactive policies have played a crucial role in stabilizing liquidity and inflation expectations. Overall, India’s economy is well-positioned for growth, but uncertainties in global markets, financial volatility, and trade disruptions remain key risks. Sustained policy support and domestic resilience will be essential in maintaining economic momentum.

    References:

    https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/0BULT19032025F9CCA0AB1F7294130A950E2FD5448B5FC.PDF

    Click here to see in PDF

    ***

    Santosh Kumar/ Sarla Meena/ Priya Nagar

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  • MIL-OSI Asia-Pac: India Pavilion Makes Debut at Game Developers Conference (GDC) in San Francisco

    Source: Government of India (2)

    India Pavilion Makes Debut at Game Developers Conference (GDC) in San Francisco

    WAVES – ‘Create in India Challenge’ Winners Take the Spotlight at GDC

    Posted On: 20 MAR 2025 5:54PM by PIB Mumbai

    Mumbai, 20th March 2025

    The India Pavilion made an impressive start at the prestigious Game Developers Conference (GDC) in San Francisco, USA. Consul General of India, San Francisco, Dr. K. Srikar Reddy, inaugurated the pavilion in the presence of Deputy Consul General, Shri Rakesh Adlakha, and Head of Digital Growth, NFDC, Ministry of Information & Broadcasting, Shri Tanmay Shankar.

    The Game Developers Conference (GDC), held from 17th to 21st March 2025, is the world’s largest and most influential event for game developers and industry professionals, featuring lectures, panels, and exhibitions on game design, technology, and business trends.

    Promoting WAVES: India’s Premier M&E Summit

    A key focus of the India Pavilion is to promote the upcoming World Audio Visual and Entertainment Summit (WAVES), scheduled to take place in Mumbai from 1st to 4th May 2025. Organised by the Ministry of Information & Broadcasting (MIB) and spearheaded by National Film Development Corporation (NFDC), WAVES is poised to be a premier platform aimed at bringing the global Media & Entertainment (M&E) industry’s attention to India. It will foster trade, innovation, and cross-border collaborations, positioning India as the Content Hub of the World.

    Spotlighting India’s Gaming Excellence

    The India Pavilion at GDC features cutting-edge exhibitors and innovators, highlighting India’s rapidly evolving gaming industry. The pavilion showcases some of the country’s leading game development companies, including Nazara Technologies and WinZO, alongside the IGDC 2024 Award winners—Wala Interactive, Brewed Games, Xigma Games, and Singular Scheme—renowned for their creativity and excellence in game development.

    Additionally, the pavilion spotlights champions of Bharat Tech Triumph Season 3, a challenge under Create in India Challenge as part of WAVES.

    • Yudiz Solutions
    • Brahman Studios
    • Godspeed Gaming
    • Second Quest
    • Over the Moon Studios
    • Game2Maker
    • Pariah Interactive
    • Lysto
    • Mixar
    • Little Guru
    • Mono Tusk Studios
    • GameEon
    • Funstop
    • Abracadabra

    The India Pavilion serves as a strategic platform for collaboration, connecting Indian gaming companies with global developers, publishers, and investors. By facilitating dialogues on co-production, technology partnerships, and content distribution, the pavilion will help unlock new growth opportunities for Indian studios in the global gaming market.

    About NFDC

    National Film Development Corporation of India is the central agency established to encourage the good cinema movement in the country. Through its participation in key international events such as FILMART, Cannes Film Festival, and Berlinale, NFDC facilitates co-productions, market access, and distribution opportunities for Indian content creators.

    About WAVES

    The first World Audio Visual & Entertainment Summit (WAVES), a milestone event for the Media & Entertainment (M&E) sector, will be hosted by the Government of India in Mumbai, Maharashtra, from May 1 to 4, 2025.

    Whether you’re an industry professional, investor, creator, or innovator, the Summit offers the ultimate global platform to connect, collaborate, innovate and contribute to the M&E landscape.

    WAVES is set to magnify India’s creative strength, amplifying its position as a hub for content creation, intellectual property, and technological innovation. Industries and sectors in focus include Broadcasting, Print Media, Television, Radio, Films, Animation, Visual Effects, Gaming, Comics, Sound and Music, Advertising, Digital Media, Social Media Platforms, Generative AI, Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR).

    Have questions? Find answers here  

    Come, Sail with us! Register for WAVES now (Coming soon!).

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  • MIL-OSI Asia-Pac: InvestHK showcases Hong Kong’s innovation ecosystem by cohosting UK tech trade delegation (with photos)

    Source: Hong Kong Government special administrative region

    InvestHK showcases Hong Kong’s innovation ecosystem by cohosting UK tech trade delegation       
         The UK delegation was spearheaded by Grow London Global, an initiative under London & Partners, the official growth agency for London, and funded by the UK Government. The cohort comprised representatives from InvestHK London Office, London & Partners, and 15 of the UK’s most innovative and rapidly growing tech companies. Participants engaged with key stakeholders in the region, industry experts, and potential clients. The mission served as a platform to showcase the UK’s cutting-edge technology and to learn from the dynamic tech ecosystems of Hong Kong.

         InvestHK facilitated this tech trade mission, which is aimed at identifying new avenues for economic co-operation and reaffirming its commitment to ongoing collaboration. The visit strengthened the connections between Hong Kong and the UK’s start-ups, enterprises, and industry leaders, paving the way for future economic and investment growth.
          
         The Head of Business and Talent Attraction/Investment Promotion at InvestHK London Office, Ms Daisy Ip, said, “We are delighted to support the Grow London Global programme and this tech trade delegation to Hong Kong. Through the productive dialogues and exchanges during the visit, we hope to further strengthen the ties between the UK and Hong Kong and create new pathways for increased investment from the UK.”
          
         The Trade Manager, Fintech & Enterprise, London & Partners, Ms Jasmine Baker, added, “This Grow London Global tech trade mission has been a success, and mutually beneficial for our delegation and everyone we have met with. We have achieved our goals in fostering collaboration with the Hong Kong business ecosystem and hope to generate more opportunities and partnerships for London’s most exciting companies.”
          
         Joining the Trade Mission to China 2025, the Founder and CEO of Assureful, Mr Rohit Nair, added, “It has been incredible to be a part of this Grow London Global tech trade mission. We have been introduced to so many members of Hong Kong’s tech ecosystem. We will be going home with an enlarged sense of what is possible in this market and will be able to make choices about growth with more confidence.”
    Issued at HKT 19:20

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: RADIATION–BASED FOOD PRESERVATION

    Source: Government of India (2)

    Department of Atomic Energy

    PARLIAMENT QUESTION: RADIATION–BASED FOOD PRESERVATION

    Posted On: 20 MAR 2025 4:19PM by PIB Delhi

    The irradiation technology has been transferred to private entrepreneurs for commercialization for food preservation. Presently 37 Gamma Radiation Processing Plants are operational in the country in private, cooperative, semi government and government sector, out of which 21plants are capable of carrying out radiation processing of agricultural/ food products. List of 21 plants is enclosed in Annexure.

     

    ANNEXURE

     

    DETAILS OF RADIATION PROCESSING PLANTS CAPBALE OF FOOD PRESERVATION

     

    Sr.

    No.

    Name and Location

    1

    M/s Organic Green Foods Ltd, Dankuni, Kolkata, West Bengal

    2

    Mis Gamma Agro Medical Processing, Hyderabad, Telangana

    3

    M/s Jhunsons Chemicals Pvt Ltd, Bhiwadi, Rajasthan

    4

    M/s Innova Agri BioPark Ltd., Malur, Dist.Kolar, Karnataka

    5

    M/s Hindustan Agro Co-Operative Ltd., Rahuri, Ahmednagar, Maharashtra

    6

    M/s Impartial AgroTech (P) Ltd., Unnao, Lucknow, Uttar Pradesh

    7

    M/s Gujarat Agro Industries Corpn. Ltd, Bavla, Ahmadabad, Gujarat

    8

    M/s Maharashtra State Agricultural Marketing Board (MSAMB),Vashi,Navi

    Mumbai, Maharashtra

    9

    M/s Aligned Industries, Dharuhera, Haryana

    10

    M/s Avantee Mega Food Park Pvt. Ltd, Indore, Madhya Pradesh

    11

    M/s Electro Magnetic Industries, Vadodara

    12

    M/s Pinnacle Therapeutics Pvt. Ltd, Vadodara

    13

    M/s Jamnadas Industries, Indore, Madhya Pradesh

    14

    M/s Solas Industries, Mathura,Uttar Pradesh

    15

    M/s Microtrol Sterilisation Services Pvt. Ltd., Baval, Haryana

    16

    M/s AV Gamma Tech LLP, Ambernath, Maharashtra

    17

    Deptt. Of Agricultural Marketing and Agri Business (DAMAB), Krishnagiri,

    Tamil Nadu

    18

    Infrastructure Development authority, Patna, Bihar

    19

    M/S LION FOODS PVT. LTD., Gir Somnath, Gujarat

    20

    Radiation Processing Plant, Vashi, Maharashtra (DAE facility)

    21

    KRUSHAK, Lasalgaon, Naskik, Maharashtra (DAE facility)

     

    This information was given by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Department of Atomic Energy, Department of Space, in a written reply in the Rajya Sabha today.

     

    ***

    NKR/PSM

     

    (Release ID: 2113252)

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PARLIAMENT QUESTION: DAE INITIATIVES REGARDING CANCER TREATMENT

    Source: Government of India (2)

    Posted On: 20 MAR 2025 4:19PM by PIB Delhi

    DAE has developed and launched several radio-pharma products. BARC has been continuously working towards ensuring uninterrupted supply of radioisotopes and radiopharmaceuticals in the country through its research reactors. BARC is constantly carrying out research to develop new radiopharmaceuticals for cancer care and achieved indigenization of clinically established radiopharmaceuticals and allied products at an affordable cost. A list of radio pharmaceuticals indigenously developed are given below. These radio pharma products are available on demand through Board of Radiation and Isotope Technology (BRIT).

    List of indigenously developed radio-pharmaceuticals

    Sr.

    no.

    Product description

    Use/ Applications

    1.

    90Y-labeled hydroxyapatite (HA)

    Radiation synovectomy

    2.

    177Lu-labeled hydroxyapatite (HA)

    Radiation synovectomy

    3.

    177Lu-DOTA TATE

    Therapy of neuro endocrine tumors

    4.

    177Lu-DOTA-TRASTUZUMAB

    Breast cancer expressing HER-2 receptors

    5.

    Clinical grade NCA Radio chemical copper-64 chloride (64CuCl2)

    PET imaging of cancer/ radiochemical for 64Cu-RPh preparation

    6.

    177Lu-DOTMP

    Bone pain palliation

    7.

    90Y-GLASSMICROSPHERES

    Liver cancer therapy

    8.

    188ReN-DEDC/Lipiodol (improved method)

    Liver cancer therapy

    9.

    177Lu-CHX-A”-DTPA-Rituximab

    Therapy        of        non-Hodgkin’s lymphoma

    10.

    Copper-64chloride(64CuCl2)

    PET imaging of cancer

    11.

    99mTc-HYNIC-[cycle(RGDfk)]2

    Imaging of malignant tumor

    12.

    188ReN-DEDC/Lipiodol

    Liver cancer therapy

    13.

    99mTc-HYNIC-TATE

    Imaging neuro endocrine tumors

    14.

    188Re-HEDP

    Bone pain palliation

    15.

    131I-lipiodol

    Liver cancer therapy

    16.

    68Ga-PSMA-11

    Imaging of prostate cancer

    17.

    99mTc-UBI(29-41)

    Infection imaging

    18.

    68Ga-DOTATATE

    Imaging neuro endocrine tumors

    The National Cancer Grid was established with support from the Department of Atomic Energy (DAE). The DAE provided Rs 72 Crores for all the activities of NCG from 2013-2023. Subsequently, to expand the scope of several projects under the NCG, DAE has further granted Rs 177.05 Crores for next 5 years.

    NCG has worked towards uniform standards of cancer care, developing trained workforce in oncology and supporting high-quality multi-centric cancer research to develop cost-effective solutions for prevention and treatment of cancer. Through its several initiatives, NCG is striving for delivery of uniform cancer care to all irrespective

    of their geographical location or socioeconomic status. There are 362-member organizations in the NCG. In the last two years a total of 70 cancer centres have been added to the NCG. Between these centres, a total of 800,000 new cancer cases are treated annually. Initiative of the NCG has potential of massive and far-reaching impact

    The key initiatives undertaken by NCG to improve cancer diagnosis, treatment protocols and research in India

    1. Resource stratified guidelines for management of cancers based on the cost- effectiveness and infrastructure availability.
    2. The guidelines are linked with AB-PMJAY to ensure quality of care delivery to the AB-PMJAY beneficiaries.
    3. Capacity building to conduct health technology assessment to ensure that oncology packages and treatments promote value-based care.
    4. Group negotiation for all the high-value anticancer drugs which resulted in a median of 82% price reduction leading to improvement in access and affordability
    5. Standardization of diagnosis by NCG-surgical pathology quality assurance program which helps ensure correct diagnosis at all the participating centres.
    6. Quality improvement programs which train the centre in improving the quality of all the cancer care pathways.
    7. Training of health-care professionals including nurses, pathologists and technicians from across the country to deliver high quality cancer care.
    8. Virtual tumour boards to provide inputs on diagnosis and treatment from a multidisciplinary team of cancer experts for all the complex cancer cases at any ofthe cancer centers at any location.
    9. Development of interoperable oncology specific electronic medical record solution
    10. Establishment of Koita Centre of digital oncology to leverage digital technologies to improve cancer care from prevention to treatment. This is in complete alignment with Ayushman Bharat Digital Mission.
    11. Integrated data collection & aggregation – a “National Cancer Database to guide all the cancer policies and national cancer control plan. Initial databases established for five common cancers.
    12. Partnering with digital tech companies to deliver cancer care near to patients’ home
    1. Initiation of national tumor tissue biobank across NCG to understand the cancer causation, identification and development of new anti cancer treatment and preventive technologies.
    2. Optimization of treatment of childhood acute lymphoblastic leukemia to increase cure rates – the largest trial done till date anywhere in the world
    3. Repurposing of drugs (aspirin, metformin and curcumin) to provide cost-effective treatment options for common cancers
    4. Training the early career oncologists in conducting high-quality cancer research. Till date more than 400 oncologists have been trained
    5. Setting a priority agenda for cancer research and collaborating with ICMR (with joint matched funding) to fund the country-relevant research questions. These include the following
      • Reduce burden of patients presenting with advanced disease
      • Improve access, affordability and outcomes in cancer care via solution-oriented research
      • Country-level health economic assessment of cancer interventions and technologies
      • Quality improvement and implementation research
      • Leverage technology to improve cancer control supported by robust scientific evidence

    Homi  Bhabha Cancer Hospital & Research Centre, Punjab is a unit of Tata Memorial Centre, Mumbai, working under the aegis of Department of Atomic Energy, Government of India. It has 2 centres, Homi Bhabha Cancer Hospital, Sangrur was set up in 2015 and Homi Bhabha Cancer Hospital &Research Centre, New Chandigarh has been setup in 50 acres of land and is functional since August, 2022. HBCH&RC, New Chandigarh is a 300 bedded facility and HBCH, Sangrur is 150 bedded facility.

    Hospital is providing round the clock Emergency, IPD, ICU, laboratory, Blood bank and pharmacy services. The hospital is fully functional and is providing all types of cancer care services including Medical Oncology (including chemotherapy in daycare), Surgical Oncology, Radiation Oncology, Pediatric Oncology, Preventive oncology, Palliative Oncology, Oncopathology,

    Microbiology, Imaging services, Interventional Radiology, Nuclear Medicine, Blood bank and Bone marrow transplant services. The laboratories and diagnostic departments are equipped with high end machineries and equipments including 3 Tesla MRI, CT scan, DEXA scanner, Mammography machine, Fluoroscopy machine, PET scanner, SPECT etc. which helps in early diagnosis of cancer. Advanced machines like LINAC are available to extend treatment with precision targeting only the cancerous area, ensuring the neighbouring normal soft tissue is not affected or damaged; through procedures like 3D CRT, IMRT, IGRT, IGBT, Stereotactic Body Radio therapy (SBRT) and Stereotactic Radio surgery (SRS). The Modular OTs with advanced machinery ensures delivery of world class treatment to its patients including HIPEC and PIPAC surgeries etc.

    The hospital has registered more than 18,000 new cancer patients in the year 2024. Out of these, approx. 13,000 patients were from Punjab while others hailed from the adjoining states of Haryana, Uttarakhand, Rajasthan, Himachal Pradesh, Uttar Pradesh and the union territories of Jammu & Kashmir, Ladakh and Chandigarh. In year 2024, OPD footfall was approx. 1.5 lakhs, approx. 6000 surgeries were done, more than 40,000 chemotherapies were administered, approximately 52,000 radiological investigations were done, 2300 patients were attended in Nuclear medicine and more than 5 lakhs investigations were carried out.

    Cancer prevention and early diagnosis is an important mandate of public health department of the hospital for which multiple public health programs are being run like Early Detection Program (EDP), ISHA project (Indian Study of Healthy Aging) for detecting cancer in women where more than 1.5 lakh women have been screened cancer; population-based cancer registries (PBCR) and hospital-based cancer registries (HBCR).

    HBCH & RC, Punjab is focused in providing world class services for cancer prevention, diagnosis and treatment.

    This information was given by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Department of Atomic Energy, Department of Space, in a written reply in the Rajya Sabha today.

    ***

    NKR/PSM

     

    (Release ID: 2113253) Visitor Counter : 13

    MIL OSI Asia Pacific News

  • MIL-OSI USA: Luján Reintroduces Legislation to Crack Down on Robocalls, Protect Americans From Scams

    US Senate News:

    Source: United States Senator Ben Ray Luján (D-New Mexico)
    Washington, D.C. –  Today, U.S. Senator Ben Ray Luján (D-N.M.), Ranking Member of the Senate Commerce Subcommittee on Telecommunications and Media, announced the reintroduction of the FCC Legal Enforcement Act, legislation that would provide the Federal Communications Commission (FCC) with litigation enforcement authority for violations contained in the Telephone Consumer Protection Act (TCPA) regarding robocalls. Specifically, the legislation would provide the FCC with the authority to commence court proceedings to recover penalties and fines against those in violation of the TCPA.
    “Every American with a phone knows how annoying it is to be bombarded by robocalls that only offer unwanted scams and threats to personal privacy. Robocalls aren’t just a nuisance, they also scam Americans out of millions of dollars every year,” said Senator Luján. “Congress passed much-needed legislation to protect Americans through the Telephone Consumer Protection Act, but this legislation failed to provide the FCC with the legal authority to enforce the law. That’s why I’m proud to reintroduce the FCC Legal Enforcement Act to empower the Commission to hold telecom companies accountable for robocalls that disrupt Americans’ lives.”
    In 1991, in an effort to address a growing number of telephone marketing calls, Congress enacted the Telephone Consumer Protection Act (TCPA). The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems (robocallers) and artificial or prerecorded voice messages. The rules apply to common carriers as well as to other marketers. Although the FCC has the authority to conduct investigations and issue fines or penalties for violations of the TCPA, the Commission lacks the authority to go into court to collect the fines. That authority lies with the Department of Justice. Unfortunately, the Department of Justice may take up to five years to decide whether to pursue a case related to a violation of the TCPA. In that time, violators have hidden assets or disappeared altogether.
    The FCC Legal Enforcement Act provides the FCC with the authority to commence court proceedings to recover penalties or fines against those in violation of the TCPA. Violations of the TCPA are still referred to the Department of Justice first, but if after 120 days, the DOJ refuses to pursue the case, the FCC can commence its own action.
    The FCC Legal Enforcement Act is cosponsored by Senators Richard Blumenthal (D-Conn.), Peter Welch (D-Vt.), Brian Schatz (D-Hawaii), Dick Durbin (D-Ill.), and Amy Klobuchar (D-Minn.).
    Full bill text is available here.

    MIL OSI USA News

  • MIL-OSI Security: North Texas Concrete Manufacturer Settles PPP Lawsuit for $1.8 Million

    Source: Office of United States Attorneys

    Speed Fab-Crete Corporation, a precast concrete manufacturer in Kennedale, Texas, agreed to pay $1,817,546.25 to resolve allegations that the company violated the False Claims Act by applying for and receiving a loan it was not eligible for in the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), announced Acting U.S. Attorney for the Northern District of Texas Chad E. Meacham.

    Congress created the PPP in March 2020, as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide emergency loans to small businesses suffering economic hardship due to the COVID-19 pandemic.  Whether an applicant qualified for a PPP loan depended on various factors.

    Speed Fab-Crete applied for and received a PPP loan in the principal amount of $1,170,000 in 2020, at a time when certain of its owners were facing criminal charges.  The government contends that Speed Fab-Crete was ineligible for the loan for that reason, because applicable SBA rules disqualified a business from PPP eligibility if any owner of 20% or more of the business’s equity was subject to criminal charges.

    “This office is committed to finding and recovering PPP funds that were obtained by ineligible recipients during the pandemic,” said Acting United States Attorney Chad E. Meacham.  “We will continue to investigate and take action as necessary to reclaim those funds on behalf of the American taxpayer.”

    “This settlement highlights the enhanced efforts of the SBA, working with the Department of Justice, SBA’s Office of Inspector General, and other Federal law enforcement agencies, as well as private individuals who have information about possible fraud in connection with PPP loans, to pursuing those who violated PPP program requirements and holding them accountable,” said SBA General Counsel Wendell Davis.  

    The settlement resolved a lawsuit filed under the qui tam or whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States and share in a portion of the government’s recovery.  The qui tam lawsuit is case number 3:23-CV-2162-S in the U.S. District Court for the Northern District of Texas, and the qui tam relator, Aidan Forsyth, will receive a 15% share of the government’s recovery as part of the settlement.  

    The government was represented by Assistant United States Attorney Brian Stoltz in the lawsuit, with assistance from Lane Siems of the SBA.  The civil claims settled by the agreement are allegations only; there has been no determination of civil liability.

    MIL Security OSI

  • MIL-OSI Security: Chatham County man sentenced to federal prison after pleading guilty to violent robbery, shooting of a store employee

    Source: Office of United States Attorneys

    SAVANNAH, GA:  A Chatham County man has been sentenced to federal prison for the armed robbery of a grocery store employee that left two people wounded.

    Jordan Richardson, 25, of Savannah, was sentenced to 240 months in prison after pleading guilty to Interference with Commerce by Robbery, Possession of a Firearm by a Convicted Felon, and Possession and Discharge of a Firearm in Furtherance of a Crime of Violence, said Tara M. Lyons, Acting U.S. Attorney for the Southern District of Georgia. U.S. District Court Chief Judge R. Stan Baker also ordered Richardson to pay $23,793 in restitution and to serve five years of supervised release upon completion of his prison term. There is no parole in the federal system.

    “Jordan Richardson wounded two people during his brief but violent criminal outburst,” said Acting U.S. Attorney Lyons. “His crime illustrates the importance of keeping our community safe by taking guns out of the hands of those who are prohibited from possessing them.”

    As described in court documents and testimony, in July 2022, Richardson waited outside the Jones Red and White Food Store on Ogeechee Road in Savannah for an employee to exit the business with a cash deposit. Richardson brandished a pistol and attempted to rob the employee, who drove away as Richardson fired a shot. Richardson, in his own vehicle, then chased the employee and fired at least six times at the employee’s vehicle when it stopped at an intersection, wounding the employee and a nearby worker. Richardson then took the deposit bag and fled.

    Several days later, Savannah police officers captured Richardson after an extended vehicle chase through neighborhood streets in which he crashed into two patrol cars. During searches subsequent to the robbery, investigators found the Glock pistol used in the robbery and shootings.

    At the time of the robbery, Richardson was on probation for a prior state conviction that included robbery and gun possession. His probation was revoked after his arrest, and Richardson was remanded to custody in the Georgia Department of Corrections pending federal sentencing. 

    “The blatant violence Richardson committed against these store employees followed by the complete disregard for the safety of the public and the police officers during the commission of his crimes is completely reprehensible,” said Paul Brown, Special Agent in Charge of FBI Atlanta. “The FBI is proud to work with our local partners to convict repeat offenders, like Richardson, at the federal level, where he faces a stiff penalty with no opportunity for parole.”

    “I am extremely proud of our officers, investigators, and our federal partners involved in this case,” said Lenny B. Gunther, Savannah Chief of Police. “Due to their hard work and expertise, Mr. Richardson is being held accountable for his actions.”

    The case was investigated by the Savannah Police Department and the FBI, and prosecuted for the United States by Southern District of Georgia Special Assistant U.S. Attorney Makeia R. Jonese and Assistant U.S. Attorney Bradley R. Thompson. 

    MIL Security OSI

  • MIL-OSI United Kingdom: Key appointments form core leadership team at Inverness Castle Experience

    Source: Scotland – Highland Council

    Issued by High Life Highland on behalf of The Highland Council

    The Inverness Castle Experience is delighted to announce the appointment of three senior roles, adding to its leadership team ahead of its highly anticipated opening later this summer.

    The Inverness Castle project is part of the Inverness and Highland City-Region Deal, which is a joint initiative supported by up to £315m investment from the UK and Scottish governments, The Highland Council, Highlands and Islands Enterprise and University of the Highlands and Islands, aimed at stimulating sustainable regional economic growth.

    Rebecca Macdonald joins as Visitor Services Manager, born and raised in Inverness, she developed a passion for history through her dad’s influence, earning a BA Hons from the University of Strathclyde and a Master’s from the University of Liverpool. With over a decade of experience in customer service roles, she has a strong commitment to creating meaningful and engaging visitor experiences.  Rebecca has worked with The National Trust for Scotland for the past six years, including a leadership role at Culloden Battlefield. She is excited to bring her experience to Inverness Castle and help create a lasting experience for local and international visitors.

    Robert Ince has been appointed as Food and Beverage Manager.  Robert brings extensive experience from a leading local auction firm, where he managed catering and events, improving offerings and creating new business opportunities. Previously, he managed The Torridon, winning the AA Scottish Hotel of the Year award twice and earned a Manager’s Gold Medal from the Scottish Hotel Awards. Robert’s career spans prestigious Scottish properties like the Carnegie Club at Skibo Castle and Cromlix House. Known for innovation, reliability, and staff training, Robert is eager to bring the best of Highland hospitality to the Inverness Castle Experience.

    John Currie, a native of North Uist, is a Hebridean fisherman turned retail professional with over 10 years of experience takes on the role of Retail Manager, He has driven retail success at The Isle of Skye Candle Company and, for the past seven years, led retail operations at the National Trust for Scotland’s Glencoe and Glenfinnan visitor centres, tripling retail income and contributing a third of the charity’s total revenue. Joining the Inverness Castle Experience, John aims to combine his passion for the Highlands with his retail expertise to create something memorable and sustainable in Inverness, while also finding time to enjoy the hills where he feels most at home.

    These key appointments mark an exciting milestone as the Inverness Castle Experience prepares to welcome visitors later this year. The attraction will offer an immersive journey into contemporary Highland life, celebrating the Spirit of the Highlands through engaging stories, exhibits and experiences.

    Cllr Ian Brown, Leader of Inverness City and Area and Co-chair of the Inverness Castle Project Delivery Group, said: “We are thrilled to welcome these talented individuals to our team. Their expertise and enthusiasm will be instrumental in helping to shape an unforgettable experience for visitors from near and far.”

    High Life Highland Chief Executive Steve Walsh added, “These appointments demonstrate High Life Highland’s commitment to delivering the highest-quality visitor experience. Each of these individuals brings a wealth of experience and fresh ideas, ensuring, along with others in the  team, that the castle becomes a must-visit destination in the Highlands.”

    The Inverness Castle Experience project, opening later this year, will benefit from £30m in investment to support its redevelopment from the Scottish and UK governments, The Highland Council, Highlands and Islands Enterprise, and a range of other partners.   

    MIL OSI United Kingdom

  • MIL-OSI Europe: Written question – Financial losses for the EU following the bankruptcy of Northvolt – E-001074/2025

    Source: European Parliament

    Question for written answer  E-001074/2025
    to the Commission
    Rule 144
    Beatrice Timgren (ECR), Charlie Weimers (ECR), Dick Erixon (ECR)

    Northvolt, once regarded as Europe’s flagship company in the electric vehicle battery sector, has now filed for bankruptcy in Sweden after failing to secure financing.[1] The company benefited from EU-backed financial instruments, including loans from the European Investment Bank, raising concerns about the potential financial losses for the EU and the effectiveness of due diligence in high-risk investments.[2]

    In response to question E-002656/2024 the Commission stated that these types of high risk project are funded by the EU because they align with political goals and would not be funded at reasonable rates by the market.[3]

    In light of recent developments and following up on the previous question:

    • 1.What is the total estimated financial loss to the EU budget from the Northvolt bankrupcy, including potential write-offs of loans provided by the European Investment Bank and other funding instruments?
    • 2.What measures will the Commission take to minimise EU taxpayer losses and ensure accountability in this case?
    • 3.What lessons has the Commission learned from Northvolt’s failure, and how will future strategic investments be better safeguarded against financial and operational risks?

    Submitted: 12.3.2025

    • [1] https://www.ft.com/content/21dbc9fa-2503-4a1d-a14c-7ac2b6f44303.
    • [2] https://www.eib.org/en/press/all/2024-011-eib-finances-northvolt-s-battery-factory-with-over-usd1-billion.
    • [3] https://www.europarl.europa.eu/doceo/document/E-10-2024-002656_EN.html.
    Last updated: 20 March 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Impact of the Green Deal on European competitiveness and industry – E-001067/2025

    Source: European Parliament

    Question for written answer  E-001067/2025
    to the Commission
    Rule 144
    Galato Alexandraki (ECR)

    The European economy is facing serious challenges due to the increasing regulatory burden and high energy costs imposed by the Green Deal. Strict environmental targets and the lack of affordable and secure energy are harming industry, leading companies to move their production outside Europe. This is reinforcing de-industrialisation and reducing the EU’s strategic autonomy, while competitors such as the USA and China are implementing more realistic development policies.

    Furthermore, the EU is becoming more dependent on third countries for critical raw materials, while its industrial base is weakening. The current strategy is making it less competitive, while the lack of flexibility in environmental policies is further burdening the economy.

    In view of the above,

    • 1.Does the Commission recognise that the Green Deal is restricting European industrial competitiveness and is it considering amending or repealing its most harmful measures?
    • 2.Why does the EU maintain policies that harm its industry, while other economies have more realistic approaches, and does the Commission intend to review climate legislation, ensuring that it does not undermine growth and energy security?
    • 3.How does the Commission intend to limit the EU’s increased dependence on third countries for critical raw materials, while ensuring affordable and secure energy for European businesses?

    Submitted: 12.3.2025

    Last updated: 20 March 2025

    MIL OSI Europe News

  • MIL-OSI Europe: RECOMMENDATION on the draft Council decision on the conclusion, on behalf of the European Union, of the Protocol on the implementation of the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau (2024–2029) – A10-0028/2025

    Source: European Parliament

    DRAFT EUROPEAN PARLIAMENT LEGISLATIVE RESOLUTION

    on the draft Council decision on the conclusion, on behalf of the European Union, of the Protocol on the implementation of the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau (2024–2029)

    (12475/2024 – C10‑0108/2024 – 2024/0159(NLE))

    (Consent)

    The European Parliament,

     having regard to the draft Council decision (12475/2024),

     having regard to the Protocol on the implementation of the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau (2024–2029)(12189/2024),

     having regard to the request for consent submitted by the Council in accordance with Article 43(2) and Article 218(6), second subparagraph, point (a)(v), and Article 218(7), of the Treaty on the Functioning of the European Union (C10‑0108/2024),

     having regard to its non-legislative resolution of …[1] on the draft decision,

     having regard to the budgetary assessment by the Committee on Budgets,

     having regard to Rule 107(1) and (4), and Rule 117(7) of its Rules of Procedure,

     having regard to the opinion of the Committee on Development,

     having regard to the recommendation of the Committee on Fisheries (A10-0028/2025),

    1. Gives its consent to the conclusion of the agreement;

    2. Instructs its President to forward its position to the Council, the Commission and the governments and parliaments of the Member States and of the Republic of Guinea Bissau.

    EXPLANATORY STATEMENT

    The Republic of Guinea-Bissau

    Guinea-Bissau has 1.9 million inhabitants from 11 ethnic groups. Half of the population lives in urban areas. This figure is expected to rise. Approximately 60% of the population is under the age of 25. The country has both a high fertility rate and a high infant mortality rate (54.8 deaths per thousand births). More than 40% of the population is illiterate. Since the signing of the previous protocol the country has dropped 2 places and is ranked 179th out of 193 in the United Nations Human Development Index (UNDP, 2021).

    Domestic natural resources have always been the mainstay of Guinea-Bissau’s economy. The contribution of agriculture to national GDP and to exports stands at 56% and 90%, respectively, and is based around a single crop – cashew nuts. One of the main challenges facing the country is to diversify production.

     

    Almost a third of public revenue came from international donors, with a third of this amount coming from the EU. The funding provided through the Fisheries Partnership Agreement (SFPA, in its most recent version) between the EU and Guinea-Bissau as compensation for access to resources make a significant contribution to the country’s national public finances.

     

    Guinea-Bissau’s broad continental shelf, fed by rivers, and the seasonal upwelling of ocean currents help to ensure rich stocks of both coastal and oceanic fish species. The main stocks of commercial value include demersal species, small pelagic species, large migratory pelagic species, crustaceans (shrimp, including deep-water shrimp) and cephalopods (squid and octopus).

     

    Artisanal fishing, including subsistence fishing, provides a livelihood for several thousand fishermen and their families, some of whom come from neighbouring countries (the numbers vary according to different estimates).

     

    Trade in fisheries products with the EU has been impeded owing to the country’s inability to comply with EU health standards, despite its best efforts. It is hoped that the strengthening of Guinea-Bissau’s capacities in this field, thanks to the creation and – following a long process – accreditation of a quality control and analysis laboratory (in July 2014 and development ongoing), can help to change the situation.

     

    EU-Guinea-Bissau Fisheries Agreement

     

    The first fisheries agreement concluded between the Republic of Guinea-Bissau and the European Community dates back to 1980. Fleets from EEC/EU Member States have had access to fishing opportunities in Guinea-Bissau waters since that time. In 2007, both parties signed the Fisheries Partnership Agreement. Since then, successive protocols implementing the Agreement have been tacitly renewed and/or negotiated. The Agreement was suspended at the EU’s initiative between April 2012 and October 2014, following a military coup. More recently, talks on the Protocol highlighted the need for a review of the financial contributions provided in exchange for fishing opportunities for EU fleets under the Protocol.

    The current Protocol on the implementation of the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau (2024-2029) was applied provisionally from the date of signature, i.e. 18 September 2024. This fisheries agreement allows vessels from a number of EU Member States to fish in Guinea-Bissau waters.

    The Protocol provides for fishing opportunities in the following categories: freezer shrimp trawlers; freezer fin-fish and cephalopod trawlers; small pelagic trawlers; tuna freezer vessels and longliners; pole-and-line tuna vessels:

    The Agreement is multi-species and covers tuna, cephalopods, shrimps and demersal species. The Agreement is part of a network of tuna agreements in West Africa and is one of only three multi-species agreements in the region (the others being with Morocco and with Mauritania).

    The fishing opportunities provided for in the Agreement are based on the best scientific advice available and on the recommendations of the International Commission for the Conservation of Atlantic Tunas (ICCAT).

    The EU contribution to this new protocol is estimated at €85 million over the 5 years, consisting of €17 million per year, of which €4.5 million will be dedicated to promoting Guinea-Bissau’s sustainable fisheries management, control and surveillance capacities, and supporting local fishing communities. 

    In addition to the EU contribution, shipowners will pay licence and capture fees to the Guinea-Bissau administration to be authorised to fish. The combination of the EU’s contribution and fees paid by EU operators puts the total estimated financial envelope beyond €100 million over the 5 year period.

    The rapporteur hopes that the new protocol will enable the EU and the Republic of Guinea-Bissau to work more closely in order to promote the sustainable exploitation of fisheries resources in Guinea-Bissau waters and to support the country’s efforts to develop the national fisheries sector and related areas.

    Recent investment by the African Development Bank and other investors (e.g. China) in infrastructure, as well as a fishing port for artisanal fishing (landing and processing) in Alto Bandim, represent an opportunity for the country, but are insufficient to meet needs. Developing infrastructure for landing, storing and processing fish for use by industrial fleets operating in Guinea-Bissau waters would be of particular importance, not only for operational purposes, but also for the development of the country’s fisheries sector, and would allow for the creation of markets, distribution and marketing structures as well as laboratories for quality analysis.

    The rapporteur is of the opinion that the Agreement should help to make the country more self-sufficient, to sustain its development strategy and to guarantee its sovereignty.

    He therefore recommends that Parliament approve the conclusion of this SFPA and its Protocol, given its importance for both the Republic of Guinea-Bissau and the EU fleets already operating in that country’s waters.

    In view of Parliament’s role and powers in this area, he considers it appropriate and necessary to adopt a non-legislative resolution on this agreement, setting out considerations and recommendations that the Commission should take into account while the current Protocol is in force (which, regrettably, it has not always done in the past).

    The rapporteur wishes to highlight the following issues, in addition to those mentioned above, as requiring particular attention.

    The Agreement must promote genuine sustainable development in the Guinean fisheries sector and related industries and activities, increasing the added value that stays in the country as a result of the exploitation of its natural resources.

    Finally, the rapporteur stresses that the European Parliament should, at each stage, be fully and promptly informed of the procedures related to the Protocol, its renewal and its implementation, as detailed in the non-legislative resolution accompanying this recommendation.

     

     

    The Committee on Budgets has carried out a budgetary assessment of the proposal under Rule 58 of the Rules of Procedure and has reached the following conclusions:

     having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union[2],

     having regard to the Interinstitutional Agreement (IIA) of 16 December 2020 between the European Parliament, the Council of the European Union and the European Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management, as well as on new own resources, including a roadmap towards the introduction of new own resources[3], and in particular point 20 thereof,

    A. whereas the financial contribution for the entire duration of the Protocol is EUR 85 000 000 (i.e. EUR 17 000 000 per year), based on:

    (a) an annual amount of EUR 12 500 000 for access to fishery resources in the fishing zone of the Republic of Guinea-Bissau; and

    (b) a specific amount of EUR 4 500 000 per year in support of the sectoral policy of the Republic of Guinea-Bissau;

    B. whereas the implementation of the Protocol requires the use of operational appropriations, as explained below:

    EUR million (to three decimal places)

    DG MARE

     

     

    Year
    N

    Year
    N+1

    Year
    N+3

    Year
    N+4

    TOTAL

    Operational appropriations

     

     

     

     

     

    Budget line 08.05.01

    Commitments

    (1a)

    17.000

    17.000

    17.000

    17.000

    85.000

    Payments

    (2 a)

    17.000

    17.000

    17.000

    17.000

    85.000

     

    1. Notes that the support allocated to the Protocol should meet the objectives of cooperation in the fields of sustainable exploitation of fishery resources, aquaculture, sustainable development of the oceans, protection of the marine environment, and the blue economy; considers that this should be thoroughly scrutinised to ensure that this is done effectively during the implementation of the Protocol; notes that the support has a direct link to the principles of the Samoa Agreement, reinforcing the Union’s external action towards African, Caribbean and Pacific (ACP) countries and particularly taking into account the Union’s objectives with regard to democratic principles and human rights, strengthening the Union presence in the region and the cooperation with an important strategic partner;

    2. Recommends that, for future agreements, an impact assessment of the added value and socio-economic benefits derived from the previous agreement be taken into account; considers that this assessment should guide the negotiation and renewal of subsequent agreements to ensure that they align with the objectives of sustainable development and efficient use of the Union’s financial resources;

    3. Notes that the Protocol with Guinea-Bissau was signed on 18 September 2024;

    4. Notes that the transfer of appropriations for an amount of EUR 17 000 000 in commitment appropriations and EUR 12 500 000 in payment appropriations, requested by the Commission in DEC 07/2024 and approved by the budgetary authority, has made available the respective appropriations on operational line 08 05 01 for 2024;

    5. Stresses that the financial programming of line 08 05 01 needs to be enough to cater for the financial obligations in the years 2025-2027 subject to the decision of the budgetary authority in the annual budgetary procedures; in this regard, notes that line 08 05 01 in the 2025 Draft Budget and in the Council Position on the 2025 Draft Budget include an amount of EUR 150 560 000 in commitment appropriations and EUR 135 275 000 in payment appropriations; calls for scrutiny regarding the financial programming of line 08 05 01 in the annual budgets of 2026 and 2027;

    6. Recalls that in line with Article 33 of the Financial Regulation, EU funding needs to respect the principle of efficiency and effectiveness in addition to sound financial management in order for the financial support granted from the EU budget to fully deliver on its objectives; believes that any possible circumvention of an EU Sustainable Fisheries Partnership Agreement, including, for instance, that with Guinea-Bissau, by European boats or vessels with ownership or management links to European companies sailing and fishing under local flags poses a risk to the sound financial management and implementation of the EU budget; asks the Commission, therefore, to present an analysis of the impact of such circumventions on the efficiency and effectiveness of the implementation to the Budgetary Authority and to take corrective measures if needed;

    7. Concludes that the Committee on Budgets is in a position to advise the Committee on Fisheries, as the committee responsible, to recommend approval of the proposal for a Council decision on the conclusion, on behalf of the European Union, of the Implementing Protocol (2024-2029) to the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau.

     

     

    OPINION OF THE COMMITTEE ON DEVELOPMENT (28.1.2025)

    for the Committee on Fisheries

    on the draft Council decision on the conclusion, on behalf of the European Union, of the Implementing Protocol (2024-2029) to the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau

    (12475/2024 – C10‑0108/2024 – 2024/0159(NLE))

    Rapporteur for opinion: Udo Bullmann

     

    SHORT JUSTIFICATION

    The Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau entered into force on 15 April 2008, being tacitly renewable. The previous 5-year Protocol to the FPA entered into force on 15 June 2019 and expired on 14 June 2024.

    With a view to adopt a new Protocol to the FPA, the European Commission conducted negotiations with the Republic of Guinea-Bissau. Following these negotiations, a new Protocol was initialled on 16 May 2024. This new Protocol covers a period of five years, allowing Union vessels to access Guinea-Bissau’s fishing zone and to fish for demersal species (crustaceans, cephalopods and fish), small pelagic species, and tuna and associated species there.

    The aim of the Protocol is to provide an updated framework that takes into account the priorities of the common fisheries policy and the external dimension, in accordance with scientific advice and the recommendations of the Joint Scientific Committee and the relevant regional fisheries management organisations. It intends to enhance cooperation between the EU and Guinea-Bissau by implementing a partnership framework within which to develop a sustainable fisheries policy and the responsible exploitation of fishery resources in the waters of the Guinea-Bissau, in the interest of both Parties.

    The EU’s financial contribution allocated to the Protocol is EUR 17 000 000 per year. This total is broken down into an annual amount of EUR 12 500 000 for access to fishery resources and another EUR 4 500 000 for the development of Guinea-Bissau’s sectoral fisheries policy, which represents an increase for sectoral support in comparison with the previous protocol. 

    Guinea-Bissau suffers from chronic malnutrition that is affecting over a quarter of its 1.9 million population, and fisheries offer an important way for the country to fight this. Stretching over 200 nautical miles from its coastline, it encompasses some of West Africa’s most abundant fishing grounds. Small-scale fishing provides over 35% of citizens’ animal protein intake and employs more than 255,000 people. However, threats to the blue economy such as illegal, unreported and unregulated fishing damage the economic and nutritional potential of the fisheries. Furthermore, the weak systems for monitoring, prevalence of corruption, and lack of finances, causes lack of fishing supervision and an inability to effectively manage fish populations.

    Your rapporteur takes the view that the Protocol has the potential to promote the responsible and sustainable exploitation of fisheries resources and the development of the national fisheries policy in the Republic of Guinea-Bissau and is in the interest of both Parties. The rapporteur also emphasises the need of stepping up the control and surveillance of fishing activities in order to more effectively tackle illegal fishing. For this reason, your rapporteur is proposing that the protocol be approved.

    *******

    The Committee on Development calls on the Committee on Fisheries, as the committee responsible, to recommend approval of the draft Council decision on the conclusion, on behalf of the European Union, of the Implementing Protocol (2024-2029) to the Fisheries Partnership Agreement between the European Community and the Republic of Guinea-Bissau.

    MIL OSI Europe News

  • MIL-OSI Europe: REPORT on the request for waiver of the immunity of Jana Nagyová – A10-0029/2025

    Source: European Parliament

    PR_IMM_Waiver

    CONTENTS

    Page

    PROPOSAL FOR A EUROPEAN PARLIAMENT DECISION

    ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

    INFORMATION ON ADOPTION IN COMMITTEE RESPONSIBLE

    PROPOSAL FOR A EUROPEAN PARLIAMENT DECISION

    on the request for waiver of the immunity of Jana Nagyová

    (2024/2035(IMM))

    The European Parliament,

     having regard to the request for waiver of the immunity of Jana Nagyová, dated 1 July 2024 and submitted by the High Court in Prague in connection with criminal proceedings pending before that court, on appeal, under reference 3 To 34/2024, and announced in plenary on 19 July 2024,

     having heard Jana Nagyová on 29 January 2025 in accordance with Rule 9(6) of its Rules of Procedure,

     having regard to Articles 8 and 9 of Protocol No 7 on the Privileges and Immunities of the European Union, and Article 6(2) of the Act of 20 September 1976 concerning the election of the Members of the European Parliament by direct universal suffrage,

     having regard to the judgments of the Court of Justice of the European Union of 21 October 2008, 19 March 2010, 6 September 2011, 17 January 2013, 19 December 2019 and 5 July 2023[1],

     having regard to Article 27 of the Constitution of the Czech Republic and Section l0(1) of Act No 141/1961 Coll. on Criminal Procedure (the Czech Criminal Procedure Code),

     having regard to Rule 5(2), Rule 6(1) and Rule 9 of its Rules of Procedure,

     having regard to the report of the Committee on Legal Affairs (A10-0029/2025),

    A. whereas on 1 July 2024 the High Court in Prague submitted a request for waiver of the parliamentary immunity of Jana Nagyová, a Member of the European Parliament elected in the Czech Republic, with a view to continuing criminal proceedings currently pending before it on appeal, concerning the charge of committing the offence of subsidy fraud pursuant to Section 212(1) and (6), point (a), and the offence of damage to the financial interests of the European Union pursuant to Section 260(1) and (5) of Act No 40/2009 Coll. (the Criminal Code of the Czech Republic);

    B. whereas the criminal proceedings against Jana Nagyová are being conducted on the basis of the indictment of the Municipal State Prosecutor’s Office in Prague, dated 21 March 2022, for an act she allegedly committed jointly with a co-accused person, on the grounds that she, in her capacity as a person with a professional focus on EU grants and, in the period from 17 January 2008 to 5 January 2010, as vice-chair of the board of directors of a Czech company, applied for a grant knowing that that company was not entitled to it and providing false information that the company was a small enterprise and an independent enterprise;

    C. whereas the purpose of parliamentary immunity is to protect Parliament and its Members from legal proceedings in relation to activities carried out in the performance of parliamentary duties and which cannot be separated from those duties;

    D. whereas the alleged offences do not concern opinions expressed or votes cast in the performance of the duties of a Member of the European Parliament within the meaning of Article 8 of Protocol No 7 on the Privileges and Immunities of the European Union;

    E. whereas Article 9, first paragraph, point (a), of Protocol No 7 on the Privileges and Immunities of the European Union provides that Members of the European Parliament enjoy, in the territory of their own State, the immunities accorded to members of their parliament;

    F. whereas Article 27(4) of the Constitution of the Czech Republic provides that Deputies and Senators may not be criminally prosecuted except with the consent of the chamber of which they are a member and that if that chamber withholds its consent, such criminal prosecution shall be foreclosed for the duration of their mandate;

    G. whereas in this case, Parliament has found no evidence of fumus persecutionis, i.e. factual elements which indicate that the intention underlying the legal proceeding may be to damage a Member’s political activity and thus the European Parliament;

    H. whereas Parliament cannot assume the role of a court, and whereas, in a waiver of immunity procedure, a Member cannot be regarded as a ‘defendant’[2];

    1. Decides to waive the immunity of Jana Nagyová;

    2. Instructs its President to forward this decision and the report of its committee responsible immediately to the competent authority of the Czech Republic and to Jana Nagyová.

    ANNEX: ENTITIES OR PERSONS FROM WHOM THE RAPPORTEUR HAS RECEIVED INPUT

     

     

    The rapporteur declares under his exclusive responsibility that he did not receive input from any entity or person to be mentioned in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.

     

     

    INFORMATION ON ADOPTION IN COMMITTEE RESPONSIBLE

    Date adopted

    18.3.2025

     

     

     

    Result of final vote

    +:

    –:

    0:

    15

    7

    0

    Members present for the final vote

    Maravillas Abadía Jover, Tobiasz Bocheński, Ton Diepeveen, Mario Furore, Mary Khan, Ilhan Kyuchyuk, Sergey Lagodinsky, Mario Mantovani, Pascale Piera, René Repasi, Krzysztof Śmiszek, Dominik Tarczyński, Adrián Vázquez Lázara, Axel Voss, Marion Walsmann, Michał Wawrykiewicz, Dainius Žalimas

    Substitutes present for the final vote

    David Cormand, Billy Kelleher, Arash Saeidi, Ernő Schaller-Baross, Kosma Złotowski

    Members under Rule 216(7) present for the final vote

    Nacho Sánchez Amor, Angelika Winzig

     

     

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Toy Safety Directive – E-002862/2024(ASW)

    Source: European Parliament

    The Commission proposal[1] aims to ensure the highest level of safety for children, including by strengthening the protection of children from the most harmful chemicals when playing with toys, and to enable the free circulation of toys in the EU.

    The overall impacts, including costs, administrative burden and environmental impacts, are set out in the impact assessment[2], but costs and other impacts of transitional provisions were not individualised. The impact assessment estimates significant health benefits and avoided health damage for children[3].

    The objective of Article 54 of the proposal is to ensure that children benefit from this protection in the swiftest manner, while allowing companies to adapt to the rules and exhaust stocks.

    Any remaining toy on the market after that period specified in Article 54 would be handled by economic operators in the distribution chain.

    The Commission notes that both the Council and the European Parliament propose longer periods in Article 54 and that this will be further discussed with the co-legislators.

    The proposal, like the Ecodesign for Sustainable Products Regulation[4], requires a data carrier but not specifically the use of a quick-response (QR) code as the data carrier.

    The Commission is carrying out a security analysis on QR codes. Any measure appropriate to protect consumers from fraud through QR codes or other data carriers will be considered when the data carrier(s) will be specified in secondary legislation.

    • [1] COM(2023)462.
    • [2] SWD(2023)269.
    • [3] The impact assessment estimated that banning the most harmful substances from toys would have considerable health benefits (between EUR 240 million and EUR 1.2 billion per year) in terms of avoided health damage from endocrine disruptors alone. These would accrue over the lifetime of a child exposed (or not exposed) to the harmful substances.
    • [4] Regulation (EU) 2024/1781 of the European Parliament and of the Council of 13 June 2024 establishing a framework for the setting of ecodesign requirements for sustainable products, amending Directive (EU) 2020/1828 and Regulation (EU) 2023/1542 and repealing Directive 2009/125/EC.
    Last updated: 20 March 2025

    MIL OSI Europe News

  • MIL-OSI: Oportun Comments on Letter from Findell Capital

    Source: GlobeNewswire (MIL-OSI)

    SAN CARLOS, Calif., March 20, 2025 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven financial services company, today issued the following statement regarding a public letter from Findell Capital Management LLC (“Findell”):

    Oportun’s management team and Board of Directors maintain consistent and open dialogue with our shareholders and welcome constructive feedback. We have engaged actively, repeatedly and in good faith with Findell for some time, striving to foster a constructive and collaborative relationship, with the goal of enhancing value for all shareholders.

    The Board and management have driven significant improvements in Oportun’s performance by taking decisive action to refine the Company’s product portfolio, streamline costs, strengthen its capital position and boost profitability. At the same time, we have made meaningful Board and corporate governance changes to ensure the Board is best positioned to continue its effective, independent oversight of the Company’s strategy and management, including appointing four independent directors since 2024.

    Results Speak for Themselves

    Our Board continuously and proactively evaluates Oportun’s performance, business and strategic direction to ensure the Company is best positioned to deliver sustainable shareholder value. We implemented several initiatives to drive improved profitability and optimize our capital structure – and our financial results demonstrate meaningful progress from those initiatives, including:  

    • Delivering fourth quarter results that exceeded our outlook and marked a return to GAAP profitability.
    • Enhancing efficiency and strengthening business economics: Since mid-2022, we have decreased operating expenses by approximately 40%, by eliminating over $240 million in annualized costs. It is worth noting Findell in March 2023 called for a target of below $450 million in annual operating expenditures, and we exceeded that amount by reducing our 2024 operating expenditures to $410 million. Additionally, we increased our portfolio yield by nearly 200 basis points, leading to significant improvements in Oportun’s profitability across all reported metrics.
    • Enhancing credit performance: Our more recent credit vintages have outperformed their predecessors and, as a result, the losses on our front book twelve-plus months after disbursement are now running up to 500 basis points lower than losses on our back-book. This improvement is driven by our continued fine tuning of our credit model.
    • Executing a comprehensive review of strategic options to strengthen financial flexibility: We conducted a comprehensive review of strategic options, through a thorough and competitive process, which led to the successful refinancing of our corporate financing facility. This enhanced balance sheet and operating flexibility are driving improved profitability and positioning Oportun for long-term success.
    • Streamlining operations to focus on core offerings: We divested non-core business segments, including the sale of our credit card portfolio in November 2024, to concentrate on our core personal loan, secured personal loan, and savings products.

    These actions have delivered substantial value for our shareholders. Oportun has driven strong returns that have outperformed major indices over the past two years – and over the past 12 months, we have achieved a 121% total shareholder return, outpacing both industry peers and key benchmarks.

    Looking ahead, we believe that our strong business model, balance sheet and liquidity will allow us to sustain our momentum and execute our strategy with discipline and focus as we work toward our 2025 goals. For example, our full-year earnings guidance implies a year-over-year increase in net income of approximately $102 million to $112 million in 2025.

    Additionally, as we stated in our earnings call on February 12, 2025, we expect to achieve an Adjusted ROE in the teens, up from 8% in 2024, by delivering prudent full-year originations growth, returning to revenue growth by year-end, and targeting a $20 million full-year decline in operating expenses.

    Oportun Has a Strong and Independent Board

    Oportun has continued to evolve the Board of Directors to maintain its strength and independence. Our Nominating and Governance Committee regularly reviews our Board composition to ensure that we have the right mix of experience and expertise to guide Oportun and it will continue to do so. We have added four independent directors with consumer finance experience since February 2024 – Mohit Daswani and Carlos Minetti, as well as Scott Parker and Richard Tambor on Findell’s suggestion.

    Our Board has deep familiarity with our business, industry and target customer base and is essential in serving the best interests of our shareholders, employees and members.

    The Board is highly engaged and committed to its management oversight responsibilities as we continue to focus on executing and delivering sustainable value. Oportun’s management team has the full support of the Board as they navigate the Company through the current environment, while supporting our members and driving sustainable value for our shareholders.

    Wilson Sonsini Goodrich & Rosati is serving as legal advisor and FGS Global is serving as strategic communications advisor to Oportun.

    About Oportun

    Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members’ financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $19.7 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually. For more information, visit Oportun.com.

    Forward-Looking Statements

    This press release contains forward-looking statements. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements as to our future performance and financial position; the impact of the refinancing of our corporate financing facility; the strength of our business model, balance sheet, liquidity and execution of our strategy; expectations regarding our full-year earnings, net income, Adjusted ROE, and originations growth for 2025; the composition of our Board of Directors and its impact on our ability to deliver long-term value to our shareholders; and our governance practices, are forward-looking statements. These statements can be generally identified by terms such as “expect,” “plan,” “goal,” “target,” “anticipate,” “assume,” “predict,” “project,” “outlook,” “continue,” “due,” “may,” “believe,” “seek,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” These statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events, financial trends and risks and uncertainties that we believe may affect our business, financial condition and results of operations. These risks and uncertainties include those risks described in our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. These forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we disclaim any obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In light of these risks and uncertainties, there is no assurance that the events or results suggested by the forward-looking statements will in fact occur, and you should not place undue reliance on these forward-looking statements.

    Additional Information and Where to Find It

    Oportun Financial Corporation (“Oportun”), its directors and certain executive officers are participants in the solicitation of proxies from stockholders in connection with Oportun’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”). Oportun plans to file a proxy statement (the “2025 Proxy Statement”) with the Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Annual Meeting.

    Jo Ann Barefoot, Mohit Daswani, Ginny Lee, Carlos Minetti, Louis Miramontes, Scott Parker, Sandra A. Smith, Richard Tambor, Raul Vazquez and R. Neil Williams, all of whom are members of Oportun’s board of directors, are participants in Oportun’s solicitation. Other than Mr. Vazquez, none of such participants owns in excess of one percent of Oportun’s common stock. Mr. Vazquez may be deemed to own approximately five percent of Oportun’s common stock. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the 2025 Proxy Statement and other relevant documents to be filed with the SEC in connection with the Annual Meeting. Information relating to the foregoing can also be found in Oportun’s definitive proxy statement for its 2024 Annual Meeting of Stockholders (the “2024 Proxy Statement”), which was filed with the SEC on May 13, 2024. To the extent that holdings of Oportun’s securities have changed since the amounts printed in the 2024 Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC.

    Promptly after filing its definitive 2025 Proxy Statement with the SEC, Oportun will mail the definitive 2025 Proxy Statement and a proxy card to each stockholder entitled to vote at the Annual Meeting. STOCKHOLDERS ARE URGED TO READ THE 2025 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT OPORTUN WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, Oportun’s proxy statement (in both preliminary and definitive form), any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting at the SEC’s website (http://www.sec.gov). Copies of Oportun’s definitive 2025 Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by Oportun with the SEC in connection with the Annual Meeting will also be available, free of charge, at Oportun’s website (https://investor.oportun.com/) or by writing to Investor Relations, Oportun Financial Corporation, 2 Circle Star Way, San Carlos, California 94070.

    Investor Contact
    Dorian Hare
    (650) 590-4323
    ir@oportun.com

    Media Contact
    John Christiansen / Bryan Locke
    FGS Global
    Oportun@fgsglobal.com

    The MIL Network

  • MIL-OSI: FXSpire Introduces False-Breakout Detection for Smarter EUR/USD Trading

    Source: GlobeNewswire (MIL-OSI)

    LIMASSOL, Cyprus, March 20, 2025 (GLOBE NEWSWIRE) — FXSpire, a cutting-edge automated trading solution, has unveiled its latest innovation: an advanced false-breakout detection algorithm designed to enhance EUR/USD trading accuracy. The system leverages real-time market data and AI-driven analysis to differentiate genuine price breakouts from misleading signals, helping traders reduce risk and optimize profitability.

    False breakouts, where price movements momentarily breach key levels before reversing, can lead to poor trade entries and losses. The detection system filters out these deceptive signals, ensuring traders operate on high-probability setups rather than noise-driven fluctuations.

    Precision Trading with AI-Backed Analysis
    Unlike conventional breakout strategies that rely on static parameters, the dynamic detection system continuously analyzes price action, market momentum, and liquidity shifts to determine the validity of a breakout. Integrating multi-layered confirmation signals, the system adapts in real-time to changing market conditions, reducing false signals and improving execution accuracy.

    Fast-moving currency markets can be a minefield of misleading signals, requiring more than just experience to navigate. FXSpire is designed to cut through the noise, filtering out deceptive price moves and highlighting only the breakouts that matter, giving traders the accuracy to act decisively with confidence.

    Enhancing Market Confidence in Volatile Conditions
    EUR/USD, the most actively traded currency pair, is highly susceptible to short-term price traps triggered by institutional orders, liquidity shifts, and speculative activity. Eliminating false breakouts strengthens trade execution, allowing traders to enter positions backed by statistically validated patterns.

    Beyond forex trading, AI-driven pattern recognition is transforming financial markets, with hedge funds and institutional investors increasingly relying on machine learning to refine trade execution and risk management. The ability to process massive datasets, detect anomalies, and execute trades in milliseconds is reshaping how traders navigate volatility across multiple asset classes.

    A Smarter Approach to Forex Trading
    Demand for precision-driven trading solutions continues to grow as forex markets become more complex. Algorithmic trading now dominates FX volume, and AI-powered tools go beyond automation, reshaping decision-making through real-time adaptability.

    As financial markets increasingly favor data-driven strategies, FXSpire stands at the forefront of this evolution, helping traders eliminate uncertainty and trade with greater confidence, accuracy, and efficiency.

    About FXSpire
    FXSpire is a precision-driven Expert Advisor for MetaTrader 4, optimized for EURUSD trading on the M30 timeframe. Using advanced pattern recognition, false breakout detection, and robust risk management, it helps traders achieve consistent results while minimizing unnecessary risks.

    Users can learn more at https://fxspire.com/

    Contact

    FXSpire Media Team
    FXSpire
    support@fxspire.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a3862c0-0173-4c38-8a1f-d94d5941bf49

    The MIL Network

  • MIL-OSI: FXSentry: The Guardian Forex Robot Designed for Capital Protection

    Source: GlobeNewswire (MIL-OSI)

    LIMASSOL, Cyprus, March 20, 2025 (GLOBE NEWSWIRE) — FXSentry, an advanced forex trading automation system, introduces a risk-aware trading strategy designed to prioritize capital protection while strategically identifying market opportunities. With market volatility constantly reshaping trading conditions, this system provides a disciplined, defense-first approach that safeguards capital without compromising the potential for strong returns.

    Most automated trading solutions prioritize trade volume over risk control, often leaving traders vulnerable to sharp market reversals. This system takes a different approach, embedding advanced risk assessment tools that actively monitor trading conditions, adjust to market fluctuations, and shield capital from unnecessary exposure. By integrating protective stop-loss placement, dynamic lot sizing, and real-time volatility tracking, it ensures that every trade is backed by rigorous risk parameters rather than blind execution.

    Turning Volatility Into Opportunity
    In forex trading, long-term success depends not only on generating gains but also on preserving them. High-impact news events, liquidity shifts, and algorithmic trading can wipe out unprotected positions in seconds, leaving traders exposed to unnecessary losses. A trading system that doesn’t prioritize capital preservation isn’t just incomplete, it’s a liability.

    This guardian-style forex automation takes a measured stance, ensuring that every position aligns with a pre-calculated risk model. Instead of reacting impulsively to price swings, the system assesses historical patterns, volatility thresholds, and liquidity shifts before executing trades. The goal is not only to protect funds from unnecessary drawdowns but also to capitalize on strategic openings that offer calculated risk-to-reward ratios.

    FXSentry is designed with capital protection at its core, prioritizing account safety while strategically seizing market opportunities. Traders need more than just automation; they need a system that understands when to engage and when to step back.

    A Smarter Defensive Strategy in Forex Trading
    With forex markets prone to unexpected shifts driven by macroeconomic events, safeguarding capital is becoming an increasing priority for both retail and institutional traders. The rise of risk-focused automation marks a shift in the industry, where traders now seek solutions that balance profit potential with built-in protection mechanisms.

    As AI-driven trading continues to evolve, demand grows for intelligent systems that go beyond execution and actively manage risk exposure. This innovation represents a new era of strategic automation, where safety and performance are no longer opposing forces but integrated pillars of a sustainable trading strategy.

    About FXSentry
    FXSentry delivers precise market analysis, robust risk management, and trader protection. With advanced indicators and automated execution, it helps traders identify opportunities while prioritizing capital safety in a user-friendly, customizable system.
    Users can learn more at https://fxsentry.com/

    Contact

    FXSentry Media Team
    FXSentry
    support@fxsentry.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ff473d3b-afa2-44d2-acd4-719142e758b7

    The MIL Network

  • MIL-OSI: Oxbridge Re Announces 2024 Fourth Quarter Results on March 26, 2025

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, March 20, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (NASDAQ: OXBR), (the “Company”), which together with its subsidiaries is engaged in the business of tokenized Real-World Assets (“RWAs”), initially in the form of tokenized reinsurance securities, and reinsurance business solutions to property and casualty today, announced that it plans to hold a conference call on Wednesday March 26, 2025 at 4:30 p.m. Eastern Time to discuss results for the fourth quarter and year ending December 31, 2024. Financial results will be issued in a press release after the close of the market on the same day. Oxbridge Re’s management will host the conference call, followed by a question and answer period.

    Interested parties can listen to the live presentation by dialing the listen-only number below.

    Date: March 26, 2025
    Time: 4:30 p.m. Eastern Time
    Listen-only toll-free number: 877 524-8416
    Listen-only international number: +1 412 902-1028

    Please call the conference telephone number 10 minutes before the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact InComm Conferencing at +1-201-493-6280

    A replay of the call will be available by telephone after 4:30 p.m. Eastern Time on the same day of the call until April 9, 2025.

    Toll-free replay number: 877-660-6853
    International replay number: +1 201-612-7415
    Replay passcode: 13752504


    About Oxbridge Re Holdings Limited

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge Re”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc, Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors.

    Company Contact:
    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    The MIL Network

  • MIL-Evening Report: Every generation thinks they had it the toughest, but for Gen Z, they’re probably right

    Source: The Conversation (Au and NZ) – By Intifar Chowdhury, Lecturer in Government, Flinders University

    Every generation thinks they had it tough, but evidence suggests young Australians today might have a case for saying they’ve drawn the short straw.

    Compared with young adults two or three decades ago, today’s 18–35-year-olds may earn more, but they also grapple with soaring living costs, rising education expenses, precarious employment and mounting debt.

    Shifts in the economy and labour market have restructured young adulthood, creating new barriers to financial security and delaying milestones such as home ownership, partnership and parenthood.

    How does this compare to what life was like for young Australians at the turn of the century?

    Increasing education, decreasing payoffs

    University participation has risen, but so has student debt. It’s now far beyond what was intended when HECS was introduced as a supposedly fair, income-contingent loan system.

    Indexation has outpaced wages, so much so that today’s 20-somethings carry debts that are more than $10,000 higher in real terms than their counterparts two decades ago.

    The Morrison government’s 2021 fee hikes only exacerbated the crisis, with some degrees nearly doubling in cost, leaving students with an even greater debt burden.

    University fees have increased over the past 25 years.
    Shutterstock

    Yet the financial return on education is increasingly uncertain.

    Credential inflation has reshaped the job market, with even low-wage positions now expecting a university degree.

    The widespread belief that a degree guarantees better pay is driving more students into higher education, yet there are many graduates saddled with debt and working in roles unrelated to their qualifications.

    In 1996, 28.5% of 21–25-year-olds found themselves in mismatched jobs.

    By 2019, that figure had climbed to 33% just among 25-year-olds.

    Salaries aren’t keeping up. Since 1996, graduate wages have risen by a factor of just 2.5, while student contributions have jumped between 1.7- and 6.2-fold. This leaves today’s graduates with debt that consumes a larger share of their income than ever before.

    The dwindling dream of home ownership

    Housing affordability has collapsed over the years.

    Twenty-five years ago, the average house cost nine years’ worth of the average household income.

    Now, it’s about 16.5 years.

    In 2001, property prices rose 1.3 times faster than incomes. Since then, they’ve surged at 2.3 times the rate.

    This is fuelled partly by tax incentive policies – for example, the Howard government’s 1999 capital gains tax changes – and, more recently, the COVID pandemic.

    Soaring prices have deepened the intergenerational housing wealth gap, reducing the home purchase opportunity for young people. While the First Home Owner Grant, introduced in 2000, provides some support, saving for a deposit remains a years-long struggle.

    That is, unless parents can help.

    For many young Australians, intergenerational wealth is now the key to home ownership. Inheritance is becoming nearly as important as employment.

    Since 2002, the total value of wealth transfers has more than doubled in real terms, with larger inheritances expected for younger generations due to rising parental wealth and fewer siblings.

    But parental wealth is far more unequally distributed than income – shaped by education and region.

    Therefore, inheritocracy is set to deepen economic inequality within today’s youth cohort.

    But this isn’t just about the ultra-wealthy passing down mansions. Most inheritances involve an ordinary home or proceeds from its sale.

    Housing, once central to middle-class stability, now determines who can build wealth and who will struggle financially for life.

    Mounting mental health pressures

    Meanwhile, Australians today are borrowing more than ever. Default risk is rising fastest among under-30s as soaring interest rates, rent hikes, and cost-of-living pressures squeeze finances.

    It’s then no surprise Gen Z is more concerned about finances than any other generation.

    Financial stress is taking a heavy toll on young people’s mental health. Between 2007 and 2022, the prevalence of mental health disorders among young Australians surged by nearly 50%.

    The burden of disease from non-fatal conditions – measured in years of healthy life lost – has risen 7% since 2003. This is largely due to mental health disorders and substance abuse, which disproportionately affect young people.

    Growing up Indigenous

    At the deepest end of these struggles are Indigenous youth, who face far greater challenges than their non-Indigenous peers.

    Across nearly every measure – education, employment, health and incarceration – outcomes for Aboriginal and Torres Strait Islander young people remain significantly worse.

    While today’s Indigenous youth have achieved better outcomes compared to previous generations – 39% of Indigenous Australians aged 20+ had completed Year 12 in 2021, up from 19.4% in 2001 – these gains still lag behind non-Indigenous youth.

    Systemic barriers, institutional racism and intergenerational trauma continue to limit fair access to opportunities. This compounds inequalities and contributes to higher rates of mental ill-health, stress and suicide among Indigenous youth.

    The changing politics of being young

    Undoubtedly, a continued period of instability and psychological distress in formative years is also shaping the youngest generation’s political attitudes and behaviours.

    With fewer assets to conserve compared to their parents or grandparents, they are more likely to lean more to the left politically, and this won’t change with age.

    Yet, they remain engaged, thanks in part to compulsory voting, but are also abandoning party loyalties.




    Read more:
    I looked at 35 years of data to see how Australians vote. Here’s what it tells us about the next election


    Australian Election Study data shows 18–30-year-olds were more interested in politics in 2022 than in 1998 (67% vs 63%). At the same time, they were more likely to change votes during campaigns (43% vs 30%) and less likely to consistently vote for the same party (28% vs 40%).

    Their right-wing identification has nearly halved since 1998, with the youth vote increasingly favouring left-wing parties (75% vs 61%).

    However, younger Australians’ diverse digital news habits add to their political unpredictability. With 60% of Gen Z relying short-form videos, podcasts, and social media platforms for news in 2024, they are increasingly exposed to fragmented, algorithm-driven content.

    This shift, coupled with rising concerns about misinformation, contributes to their volatility as voters.

    Overall, young Australians are coming of age in an era where hard work no longer guarantees security. How Australia adapts to this shifting economic and political reality will shape the country’s future for decades to come.


    This piece is part of a series on how Australia has changed since the year 2000. You can read other pieces in the series here.

    Intifar Chowdhury 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. Every generation thinks they had it the toughest, but for Gen Z, they’re probably right – https://theconversation.com/every-generation-thinks-they-had-it-the-toughest-but-for-gen-z-theyre-probably-right-249604

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Antarctic bases are hotbeds of stress and violence. Space stations could face the same challenges

    Source: The Conversation (Au and NZ) – By Rebecca Kaiser, PhD Candidate, School of Social Sciences, University of Tasmania

    The South African National Antarctic Expedition research base, SANAE IV, at Vesleskarvet, Queen Maud Land, Antarctica.
    Dr Ross Hofmeyr/Wikimedia, CC BY-SA

    Earlier this week, reports emerged that a scientist at South Africa’s SANAE IV Antarctic research base had accused a colleague of physical assault.

    We research Antarctic governance and crime in isolated, confined and extreme environments such as Antarctic and space stations. Rebecca specifically investigates how station cultures evolve in isolation and what factors significantly influence conflict – and what can be done to improve safety in these environments.

    What happened on SANAE IV?

    SANAE IV is located on the edge of a steep cliff in Vesleskarvet in east Antarctica. The alleged assault stemmed from a dispute over a task the team leader wanted the team to do. In an email published by the South African Sunday Times, the alleged victim said the alleged attacker had also:

    threatened to kill [name withheld], creating an environment of fear and intimidation. I remain deeply concerned about my own safety, constantly wondering if I might become the next victim.

    Psychologists are now in touch with the research team. They aren’t due to leave the extremely isolated and remote base until December.

    This latest incident fits within a broader pattern of crime and misconduct in Antarctica. Research stations on the icy continent are often portrayed as hubs of scientific cooperation. But history has shown they can also become pressure cookers of psychological strain and violence.

    Multiple cases of misconduct

    There have been multiple cases of misconduct in Antarctica over the years.

    In 1959, a scientist at Russia’s Vostok Station allegedly attacked his colleague with an ice axe after losing a game of chess. In 2018, another Russian research station became the site of a stabbing. The alleged cause? Spoiled book endings.

    In 1984, the leader of Argentina’s Almirante Brown Station set fire to the facility after being ordered to stay through the winter. This resulted in the station’s evacuation.

    The 2000 death of an astrophysicist at the Amundsen-Scott South Pole Station was a suspected murder.

    And recent investigations into sexual harassment at multiple Antarctic stations highlight ongoing safety concerns.

    Drivers of conflict

    Research suggests several psychological and social factors contribute to conflict in remote locations such as Antarctica. These include prolonged isolation, extreme environmental conditions, and the necessity of constant close contact.

    In combination, these factors can amplify even minor frustrations. And over time, the lack of external social support, the monotony of daily routines, and the psychological weight of confinement can lead to heightened emotional responses and conflict.

    Without structured outlets for stress relief and effective de-escalation mechanisms (such as gyms, libraries, or quiet spaces where mediation between people can happen), tensions can reach breaking points.

    Power dynamics also play a crucial role. With limited external oversight, leadership structures and informal hierarchies take on an outsized influence. Those in positions of authority have significant control over how disputes are resolved. This has the potential to exacerbate tensions rather than reducing them.

    The process for reporting and responding to incidents in these kinds of environments also remains inconsistent. There’s a lack of policing, and traditional justice systems are also largely absent. Many stations rely on administrative action and internal conflict resolution mechanisms, rather than legal enforcement.

    But these mechanisms can be biased or inadequate. In turn, this can leave victims of harassment or violence with few options. It can also lead to more conflict.




    Read more:
    Antarctic stations are plagued by sexual harassment – it’s time for things to change


    From Antarctica to space

    As Antarctica and space become more accessible for research and commercial ventures, proactive approaches to crime and conflict prevention in these remote and extreme environments is vital.

    The psychological and social challenges observed in Antarctic stations provide a valuable model for understanding potential conflicts in long-duration space missions. Lessons learned from incidents in Antarctica can inform astronaut selection, training, and onboard conflict resolution strategies.

    A key area requiring refinement is psychological screening for personnel.

    Current screening methods may not fully account for how individuals will react to the social shift that takes place in a remote environment. This includes the altering of attitudes, personal priorities and tolerances.

    More advanced stress tolerance assessments and social adaptability training could improve candidate selection. It could also reduce the likelihood of conflicts escalating to violence.

    It’s also vital that we gain a better understanding of the unique conflict dynamics that evolve in these equally unique environments.

    Research can help. So too can thorough investigations of incidents, such as the one that allegedly occurred at SANAE IV.

    This knowledge can be used to recognise early signs of potential conflicts. It can also be integrated into case study-based training modules for expeditioners prior to their deployment. These training modules should include role-playing scenarios, crisis intervention techniques, and integrating the lived experiences of past expeditioners.

    This would better equip personnel to navigate interpersonal challenges.

    Going to extremes

    The recent alleged events at SANAE IV are indicative of a broader pattern of human behaviour in extreme environments.

    If we are to successfully expand scientific exploration and habitation in these settings, we must acknowledge the realities of human conflict and develop strategies to ensure the safety and wellbeing of those who live and work in these challenging conditions.

    Studying crime and conflict in environments such as Antarctica is not just about understanding the past. It’s about safeguarding the future of exploration – whether on Earth’s harshest frontier or in the depths of space.

    Hanne E F Nielsen receives funding from the Australian Research Council and the Dutch Research Council.

    Rebecca Kaiser 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. Antarctic bases are hotbeds of stress and violence. Space stations could face the same challenges – https://theconversation.com/antarctic-bases-are-hotbeds-of-stress-and-violence-space-stations-could-face-the-same-challenges-252720

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: What’s the difference between baking powder and baking soda? It’s subtle, but significant

    Source: The Conversation (Au and NZ) – By Nathan Kilah, Senior Lecturer in Chemistry, University of Tasmania

    Karynf/Shutterstock

    There is something special about sharing baked goods with family, friends and colleagues. But I’ll never forget the disappointment of serving my colleagues rhubarb muffins that had failed to rise. They were dense, rubbery and an embarrassment to the reputation of chemists as good cooks (#ChemistsWhoCook feeds on social media are full of delicious food).

    The cause of my failure was an imbalance between the acidity of rhubarb and the chemical raising agents I used in baking.

    Both baking powder and baking soda can play a role in giving baked goods their bubble-filled texture and taste. They are sold side-by-side in the supermarket, and have similar uses. But what’s the difference between them and how can we use those differences to our advantage?

    What’s in the box?

    A quick look at the packaging shows the difference between the two products.

    Baking soda contains one ingredient: sodium hydrogen carbonate, also known as sodium bicarbonate or simply bicarb. Baking soda is well known for its uses in cleaning, cooking and deodorising.

    Baking powder is typically a mixture of three ingredients: baking soda, an acid, and a starch derived from corn, rice or wheat. The starch makes it easier to measure the powder and also prevents the acid and base from reacting prematurely in the pantry. Baking powder is used exclusively for cooking.

    The common ingredient in both products is the baking soda. This salt can be purified from natural sources, or can be prepared synthetically.

    The acid is the key

    Baking soda is a base, which means it can chemically react with acids. This fizzy reaction produces bubbles of carbon dioxide, water and a mix of new salts. Baking soda can also release carbon dioxide gas when it is heated at temperatures above 80°C.

    When you mix baking soda into a cake batter, you will see some initial chemical activation by food acids. This causes bubbles to form and the mixture to rise.

    The acids come from other ingredients in the mix, such as yogurt, buttermilk, or the rhubarb in my failed muffins. Too much acid, and the majority of the carbon dioxide will be released at this batter stage.

    Once you place the mixture in the hot oven, the high temperature will form further carbon dioxide bubbles. This thermal activation forms a new salt, sodium carbonate, which can give a residual taste and “soapy” mouthfeel if there’s too much of it left in the final product.

    Baking soda produces bubbles when mixed with acid, and when exposed to a high temperature in the oven.
    SergeyKlopotov/Shutterstock

    Mixing baking powder into a cake batter will also result in chemical activation to form bubbles. The baking soda in the mixture will react with the acid included in the baking powder mix, as well as any acidic ingredients in the batter.

    The type of acid included in the baking powder can subtly change the way the baking powder behaves. The more soluble the acid in the batter, the faster the carbon dioxide will form bubbles.

    Recipes that ask for both baking powder and baking soda are likely looking to do two things: neutralise an abundance of food acid from another ingredient, and provide time-delayed, temperature-activated rising.

    Baking soda can also increase the surface browning of food by enhancing the Maillard reaction. This class of reactions results in delicious chemical transformations in roasted coffee, seared steaks, baked bread and more.

    Meanwhile an excess of baking soda can change the appearance of foods, for example turning blueberry anthocyanins green in muffins or pancakes.

    Too much sodium carbonate left over during baking can contribute to a ‘soapy’ mouthfeel – a real risk for scones, for example.
    Zain Abba/Pexels

    Can I substitute baking powder and baking soda?

    Baking (like chemistry) is a precise science. It’s best not to substitute baking soda for baking powder or vice-versa: they have subtly different chemical effects.

    If you really need a substitution, the general rule is that you need three times the baking powder for the equivalent quantity of baking soda (so, if the recipe asks for a teaspoon of baking soda, you’d add three teaspoons of baking powder).

    But it’s not a precise conversion: it doesn’t take into account the key role of acid that’s already in the baking powder. This could affect the final acid-base balance in your recipe.

    You can compensate by adding an acid such as cream of tartar or citric acid. But it can be difficult to get the relative quantities of acid and base correct. These acids are also likely to promote immediate release of carbon dioxide, with less left to activate in the oven – potentially leading to a dense bake.

    You definitely shouldn’t substitute baking powder for baking soda when cleaning. The acid in the baking powder will neutralise any cleaning activity of the sodium bicarbonate, while the starch may leave a sticky, streaky mess.

    It’s best to keep both baking powder and baking soda in your pantry for their distinct uses. Be sure to share whatever delicious treats you bake with others, as well as sharing your new knowledge of the bubbly chemistry contained within.

    Nathan Kilah 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. What’s the difference between baking powder and baking soda? It’s subtle, but significant – https://theconversation.com/whats-the-difference-between-baking-powder-and-baking-soda-its-subtle-but-significant-251050

    MIL OSI AnalysisEveningReport.nz