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Category: Business

  • MIL-OSI: Wearable Devices Announces Full Year 2024 Financial Results and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    YOKNE’AM ILLIT, Israel, March 19, 2025 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or the “Company”), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, today announced its financial results for the year ended December 31, 2024.

    Asher Dahan, Chief Executive Officer and Chairman of the Board of Directors of Wearable Devices, commented, “2024 was characterized by strategic capital allocation and the execution of our growth strategy as we delivered our Mudra Band for Apple Watch, and entered into several collaborations with companies and contractors at the forefront of their respective industries. With a strong focus on technological breakthroughs and innovation, we introduced the Mudra Link, a universal gesture control wearable wristband in September 2024. This launch marked a significant milestone in our neural interface technology, enabling seamless, touch-free interaction with a wide range of digital devices. The Mudra Link is open for orders, and we have started to ship the Mudra Link to customers in the first quarter of 2025. We invested significant resources in pursuit of these milestones, mainly due to strategic investments primarily in sales and marketing and research and development as we continue to innovate and showcase our technology, as well as an enhanced focus on business development on the business-to-business (“B2B”) side of our business.”

    “Collaborations represent a key part of our business, and we expect our B2B offerings to be a significant driver of revenue for us as we grow. At the beginning of 2024, we launched the B2B Mudra Developer Kit (“MDK”), providing our B2B customers with enhanced capabilities and additional features that improve our B2B offering. The MDK allows original equipment manufacturers (“OEMs”) to design new, customized gestures to create a user interface specifically tailored to their needs. At the beginning of 2024, we announced a collaboration agreement with Qualcomm Incorporated (“Qualcomm”), for the development of products using the Qualcomm Snapdragon Spaces XR Developer Platform. In October 2024, we announced an innovative collaboration with TCL-RayNeo™ (“RayNeo”), a leader in augmented reality (“AR”) technology, aiming at bringing mass-market neural interface wristband for AR glasses to life. We anticipate interest in our B2B product to grow as the market for wearable devices and AI-based technology expands, with more and more customers recognizing the value that our products can add to their operations.

    “Our business-to-customer (“B2C”) product, the Mudra Band, is an award-winning aftermarket band for the Apple Watch that enables touchless control of multiple Apple devices. In addition, we’re seeing considerable interest in the Mudra Link, and during the first quarter of 2025 we commenced shipment of our first manufacturing batch to Mudra Link customers. 2024 was characterized by strategic capital allocation and the execution of our growth strategy, with a focus on three key areas: technological breakthroughs and innovation, adoption trends and market outlook, and strategic positioning for future growth.

    First, we continued to lead in innovation with groundbreaking technologies that enable natural, touch-free interaction. Second, we are witnessing an increasing adoption trend in neural interface solutions, with growing interest from both consumers and business partners. Finally, we are well-positioned for future growth, supported by our marketing efforts, strong presence at leading trade shows such as CES and MWC, and the growing recognition of Mudra Link as a market-defining product. We continue to receive orders for the product and see significant growth potential as our technology and capabilities evolve.”

    Mr. Dahan concluded, “We have a comprehensive strategy with innovative B2B and B2C offerings to maximize our presence in what we believe to be a market that is poised for tremendous growth. We are very encouraged by the progress that we made in 2024 and believe that Wearable Devices is positioned for transformation in coming years, as we continue to invest in our operations, bring innovative products to market, and showcase the breadth and depth of our technology.”

    2024 and Recent Business Highlights:

    Strategic Collaborations & Expansion

    • Signed a collaboration agreement with Qualcomm to elevate extended reality (“XR”) experiences using Mudra neural technology.
    • Collaborated with RayNeo to lead the neural control revolution for AR glasses, positioning Mudra ahead of competitors like Meta.
    • Signed a reseller agreement to scale licensing efforts in South Korea and China.

    Product & Technology Innovations

    • Launched Mudra Link, the first AI Neural Interface Wristband for Android and beyond, expanding accessibility of neural gesture control.
    • Released the Mudra Developer Kit (MDK) for B2B customers, enabling OEMs to create tailored user interfaces.
    • Unveiled AI-powered Large MUAP Models to revolutionize gesture control with personalized neural interactions.
    • Showcased future AI-powered gesture personalization technology, advancing next-gen human-computer interaction.

    Market Recognition & Sales Expansion

    • Awarded the CES 2025 Innovation Award in XR Technologies and Accessories for Mudra Link.
    • Chosen as Best Wearable of CES 2024 by SlashGear.com.
    • Featured in Mashable, VentureBeat, and leading tech magazines.

    Strategic Deployments

    • Successfully completed the first-stage deployment testing for a leading XR glasses OEM, meeting key evaluation criteria.
    • Demonstrated Mudra technology integration with Qualcomm Snapdragon Spaces at CES 2025 and AWE 2024.
    • Showed positive results on Lenovo’s XR headset, validating Mudra’s neural technology for next-gen spatial computing.

    Intellectual Property & Regulatory Progress

    • Filed a patent application for touchless pinch-to-zoom technology for AR/VR (virtual reality) applications.
    • Secured a Chinese patent for its AI Gesture-Controlled Interface.
    • Expanded international IP portfolio with a neural wrist technology patent filing in South Korea.

    Full Year 2024 Financial Highlights:

    • Revenues: Revenues increased from $82 thousand in 2023 to $522 thousand in 2024, marking a significant step forward in the Company’s transition toward a commercially driven business. This growth was primarily driven by increased sales of the Mudra Band, demonstrating early market adoption and growing demand for neural interface technology. While revenues are still at an early stage, the upward trend reflects positive momentum and a foundation for future expansion.
    • Research and Development Expenses: Research and development expenses decreased by 11% to $3.0 million in the full year of 2024 compared to $3.3 million in the full year of 2023, reflecting the successful completion of key development phases, particularly Mudra Link, and a transition toward production and sales. The Company continued to focus on creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software and hardware.
    • Sales and Marketing Expenses: Sales and marketing expenses increased by 4% to $2.1 million in the full year of 2024 compared to $2.0 million in the full year of 2023, related to the Company driving awareness of its technology and products across various channels including participation at multiple leading industry conferences.
    • General and administrative expenses: General and administrative expenses decreased by 1.3% to $2.8 million in the full year of 2024 compared to $2.9 million in the full year of 2023.
    • Net Loss: Net loss increased to $(7.9 million), or $(24.2) per diluted share, for the year ended December 31, 2024, as compared to a net loss of $(7.8 million), or $(38.4) per diluted share, for the year ended December 31, 2023.

      The per share information reflects the Company’s 1-for-20 reverse share split, which became effective on October 10, 2024, and an additional 1-for-4 reverse share split, which became effective on March 17, 2025.

    • Cash Position: Cash and deposits as of December 31, 2024 were $4.0 million.
    • Inventory: Inventory increased to $1.2 million at the end of 2024, as part of the completion of the transition phase from research and development to production and to serve our planned B2C and B2B initiatives in 2025.

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbol “WLDS” and “WLDSW,” respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits, capabilities, advantages and expected demand, an increasing adoption trend in neural interface solutions, with growing interest from both consumers and business partners, momentum and growth of our products and technology, our expectation for the growth of the B2B market and that our B2B offerings will be a significant driver of revenue for us as we grow, our anticipation that interest in our B2B product will grow as the market for wearable devices and AI-based technology expands and our belief that Wearable Devices is positioned for transformation in coming years. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our use of proceeds from the offering; the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Contact:

    Michal Efraty
    IR@wearabledevices.co.il

    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED BALANCE SHEETS
     
        December 31  
        2024       2023  
        U.S. dollars
    in thousands    		  
    Assets      
    CURRENT ASSETS:            
    Cash and cash equivalents     3,089         810  
    Short-term bank deposits     862         4,045  
    Governmental grant receivable     17         108  
    Other receivables and prepaid expenses     322         757  
    Inventories     1,226         1,032  
    TOTAL CURRENT ASSETS     5,516         6,752  
                     
    NON-CURRENT ASSETS:                
    Long-term bank deposits     –         54  
    Right-of-use assets     330         592  
    Property and equipment, net     130         194  
    TOTAL NON-CURRENT ASSETS     460         840  
    TOTAL ASSETS     5,976         7,592  
                     
    Liabilities and Shareholders’ Equity                
    CURRENT LIABILITIES:                
    Accounts payable     157         410  
    Advance payments     83         312  
    Convertible promissory note     770         –  
    Accrued payroll and other employment related accruals     402         579  
    Accrued expenses     392         190  
    Lease liabilities     291         297  
    TOTAL CURRENT LIABILITIES     2,095         1,788  
    Lease liabilities     21         278  
    TOTAL LIABILITIES     2,116         2,066  
                     
    SHAREHOLDERS’ EQUITY:                
    Ordinary shares no par value : Authorized 50,000,000 as of December 31, 2024 and December 31, 2023; Issued and outstanding 707,463 shares as of December 31, 2024 and 254,843 shares as of December 31, 2023.     67         57  
    Additional paid-in capital     32,895         26,692  
    Accumulated losses     (29,102 )       (21,223)  
    TOTAL SHAREHOLDERS’ EQUITY     3,860         5,526  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY     5,976         7,592  
    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
     
        Year ended December 31  
        2024       2023       2022    
        U.S. dollars in thousands (except per share amounts)  
                       
    Revenues     522         82         45    
    Cost of revenues     437         (62 )       (10 )  
    GROSS PROFIT     85         20         35    
    Research and development, net     (2,964 )       (3,316 )       (2,271 )  
    Sales and marketing expenses, net     (2,096 )       (2,008 )       (1,370 )  
    General and administrative
    expenses    		     (2,845 )       (2,882 )       (1,948 )  
    Initial public offering expenses     –         –         (904 )  
    OPERATING LOSS     (7,820 )       (8,186 )       (6,458 )  
    Financing income (expenses), net     (52 )       372         (38 )  
    LOSS BEFORE TAX EXPENSES     (7,872 )       (7,814 )       (6,496 )  
    Tax expenses     (7 )       –         –    
    NET LOSS AND TOTAL                           
    COMPREHENSIVE LOSS     (7,879 )       (7,814 )       (6,496 )  
                             
    Net loss per ordinary shares,                        
     basic and diluted *     (24.2 )       (38.4 )       (42.4 )  
    Weighted average number of                               
    ordinary shares and pre-
    funded warrants outstanding
    basic and diluted *    		     325,690         202,515         153,465    
      * The share and per share information in these financial statements reflects the 1-for-20 reverse share split became effective on October 10, 2024 and an additional 1-for-4 reverse share split of our issued and outstanding Ordinary Shares became effective on March 17, 2025.
    WEARABLE DEVICES LTD. AND ITS SUBSIDIARY
    CONSOLIDATED STATEMENTS OF CASH FLOWS
     
        Year ended December 31  
        2024       2023     2022    
        U.S. dollars in thousands  
    CASH FLOWS FROM OPERATING ACTIVITIES:                    
    Net loss     (7,879 )       (7,814)       (6,496)    
    Adjustments required to reconcile net loss to net cash used in                           
    operating activities                          
    Depreciation     107         68       23    
    Interest expenses on convertible promissory note     4         –       –    
    Accrued interest on deposits     (3 )       (45)       –    
    Share based compensation expenses     182         241       790    
    Unrealized gain from foreign currency derivative activities     68         (68)       –    
    Marketing expenses paid in ordinary shares     100         –       –    
    Provision for inventory write-off     75         –       –    
                               
    Changes in operating assets and liabilities items:                          
    Decrease in accounts receivable     –         –       8    
    Decrease (increase) in inventories     (269 )       (1,026)       5    
    Decrease (increase) in governmental grants receivables     91         (54)       8    
    Decrease (Increase) in other receivables and prepaid expenses     357         (136)       (496)    
    Increase (decrease) in advance payments     (228 )       (41)       79    
    Increase (decrease) in deferred revenues     –         (12)       (12)    
    Increase (decrease) in accounts payable     (253 )       254       84    
    Increase (decrease) in accrued payroll and other employment
    related accruals    		     (177 )       163       194    
    Increase in accrued expenses     212         36       99    
    Net cash used in operating activities     (7,613 )       (8,434)       (5,714)    
    CASH FLOWS FROM INVESTING ACTIVITIES:                          
    Purchase of property and equipment     (43 )       (194)       (48)    
    Decrease (Increase) in deposits, net     3,240         (4,054)       –    
    Prepayments of leasing     –         –       (18)    
    Net cash provided by (used in) investing activities     3,197         (4,248)       (66)    
    CASH FLOWS FROM FINANCING ACTIVITIES:                          
    Proceeds from issuance of shares issued in the public offering, net
    of issuance cost    		     1,578         1,670       –    
    Proceeds from issuance of units of ordinary shares and warrants in
    connection with the initial public offering, net of issuance
    expenses    		             –       14,319    
    Proceeds from issuance of SAFEs     –         –       500    
    Refund to SAFE investors     –         –       (100)    
    Proceeds from credit line     –         –       800    
    Repayment of credit line     –         –       (800)    
    Proceeds from issuance of ordinary shares as a result of exercise of
    warrants    		     –         1,449       160    
    Proceeds from issuance of ordinary shares associated with the
    SEPA    		     4,353         –       –    
    Proceeds from issuance of convertible promissory note     1,920         –       –    
    Repayment of convertible promissory note     (1,156 )                    
    Net cash provided by financing activities     6,695         3,119       14,879    
                               
    Net increase (decrease) in cash and cash equivalents     2,279         (9,563)       9,099    
    Cash and Cash Equivalents at the beginning of year     810         10,373       1,274    
    Cash and cash equivalents at the end of year     3,089         810       10,373    
    Supplemental Disclosure:                          
    Interest paid     49         –       40    
    Interest received     (144 )       (305)       –    
    Conversion of SAFEs to equity     –         –       400    
    Right-of-use asset recognized against lease liability     –         644       229    

    The MIL Network –

  • MIL-OSI: Beyond Trust Launches ‘Beyond Card’ to Enhance Security and Accessibility for High-Net-Worth Clients

    Source: GlobeNewswire (MIL-OSI)

    Beyond Trust Company Limited launched the Beyond Card, providing high-net-worth clients secure access to liquid assets within trust structures. Equipped with advanced security features, the card enables controlled transactions while maintaining legal protections. This innovation combines financial technology with traditional wealth preservation methods.

    HONG KONG, March 19, 2025 (GLOBE NEWSWIRE) — Beyond Trust Company Limited has introduced the Beyond Card, a new financial solution designed to improve asset security and accessibility for high-net-worth clients. The launch of the Beyond Card reflects its ongoing efforts to provide advanced financial solutions that align with global best practices. The card provides controlled access to liquid assets within trust structures while incorporating advanced security features to prevent unauthorized transactions.

    As wealth management becomes more complex, high-net-worth individuals require secure and flexible financial tools. The Beyond Card allows clients to access their funds efficiently while maintaining strong legal protections under trust structures. This development aligns with Beyond Trust’s commitment to integrating financial technology with traditional wealth preservation methods.

    Beyond Trust recently received a 2025 Global Recognition Award for leadership and innovation in trust services. The award highlights the company’s role in modernizing wealth management through financial technology and structured asset protection. “The Beyond Card gives clients both flexibility and protection. It allows them to manage their assets securely while ensuring that their financial legacy remains intact,” said Stanley Hui, CEO of Beyond Trust.

    High-net-worth individuals often face security risks, including fraud and cyber threats. To fight this, the Beyond Card is equipped with multi-layer authentication features, transaction monitoring and strict access controls. These security measures help prevent financial mismanagement and unauthorized account access.

    “Our clients need financial security without compromising convenience,” Hui added. “With the Beyond Card, we provide a structured solution that safeguards assets while allowing controlled access when needed.”

    The Beyond Card is integrated into Beyond Trust’s wealth management services, offering clients a way to access designated funds while ensuring that trust guidelines are followed. The system prevents unauthorized withdrawals and ensures that all transactions align with the terms of the trust. Its structures are designed to protect wealth across generations. The Beyond Card complements these services by giving trustees and beneficiaries the ability to manage financial transactions without disrupting the long-term financial plan. The card’s system ensures that funds are distributed according to the legal trust framework, reducing risks related to overspending, unauthorized access or disputes over asset control.

    By combining financial technology with trust management, Beyond Trust aims to offer a practical tool for wealth preservation.

    About Beyond Trust Company Limited

    Beyond Trust Company Limited is a licensed trust services provider based in Causeway Bay, Hong Kong. The company specializes in wealth management, inheritance planning, and financial security solutions for high-net-worth individuals and families. Beyond Trust helps clients preserve and manage assets across generations by integrating advanced financial technology with legal trust structures. The firm operates under Hong Kong’s common law framework, providing strong legal protections and strategic advantages for trust services.

    Contact Information:

    Name: Stanley HUI
    Company: Beyond Trust Company Limited
    Website: www.beyondtrust.com.hk
    Email: stanley.hui@beyondtrust.com.hk

    The MIL Network –

  • MIL-OSI: ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of February 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, March 19, 2025 (GLOBE NEWSWIRE) — ArrowMark Financial Corp., (NASDAQ: BANX) (“ArrowMark Financial”), today announced that BANX’s estimated and unaudited Net Asset Value (“NAV”) as of February 28, 2025, was $22.04.

    This estimated NAV is not a comprehensive statement of our financial condition or results for the month February 28, 2025.

    About ArrowMark Financial Corp.
    ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol “BANX.” Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit ir.arrowmarkfinancialcorp.com, or contact Destra at 877.855.3434 or by email at BANX@destracapital.com.

    Disclaimer and Risk Factors:
    There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial’s investment objective, risks, charges and expenses. Past performance does not guarantee future results.

    The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC’s website at www.sec.gov and on the BANX’s website at ir.arrowmarkfinancialcorp.com.

    Contact:
    BANX@destracapital.com

    The MIL Network –

  • MIL-OSI New Zealand: Environment – NZ dairy linked to deforestation inside Attenborough orangutan documentary wildlife reserve – Greenpeace

    Source: Greenpeace

    Greenpeace Aotearoa says that New Zealand dairy has been linked to deforestation inside the wildlife reserve featured in David Attenborough’s orangutan documentary, Secret Lives of Orangutans.
    The organisation says that it is deeply concerned by news that two companies exporting to New Zealand have been sourcing palm kernel from a mill known to be buying products grown illegally inside the Rawa Singkil Wildlife Reserve as recently as September 2024.
    The reserve is home to highly endangered species including Sumatran tigers and orangutans.
    Greenpeace Aotearoa spokesperson Sinéad Deighton-O’Flynn says, “The Rawa Singkil Wildlife Reserve is a biodiversity hotspot and the last refuge of the critically endangered Sumatran orangutan. It’s a disgrace that New Zealand dairy has any part in its destruction.”
    “Every year, the New Zealand dairy industry, led by Fonterra spends millions of dollars on palm kernel that comes from the destruction of once thriving rainforests.”
    New Zealand is the world’s biggest importer of palm kernel, importing nearly 2 million tonnes every year from Southeast Asia. Palm kernel is used as a supplementary feed for dairy cattle.
    A 2024 investigation by Rainforest Action Network found that there are 653 hectares of illegal oil palm plantations operating in the Rawa Singkil Wildlife Reserve, 453 hectares of which are productive, meaning that illegal palm oil and palm kernel from these plantations is already being sold.
    Between 2023-2024, Apical and Musim Mas, two major palm kernel expeller (PKE) exporters to New Zealand, purchased palm kernel from PT. Global Sawit Semesta, a mill known to have traded palm products grown within the wildlife reserve.
    “New Zealand dairy is marketed as clean, green and grass-fed, but this is just simply not true. Fonterra’s own grass-fed standard allows for its cows’ diets to be made up of 20% palm kernel,” says Deighton-O’Flynn.
    “Fonterra’s butter and milk powder is contaminated with this blood-soaked animal feed and its executives are ignoring the severity of the issue.”
    “Fonterra has tried to avoid accountability on illegal palm kernel in its supply chain, by claiming that its suppliers have “no deforestation, no peat and no exploitation” policies, but it is abundantly clear that these policies aren’t working. The rainforest is still being destroyed at an alarming rate,” says Deighton-O’Flynn.
    “Palm kernel supply chains are incredibly murky. It is virtually impossible for Fonterra to guarantee that its supply chains are not linked to rainforest destruction, so Greenpeace is calling on Fonterra to completely phase out the use of palm kernel on all of its farms.”
    “New Zealanders should not have to worry about whether the butter they’re spreading on their toast is tainted by the killing of orangutans in Southeast Asia.”

    MIL OSI New Zealand News –

  • MIL-OSI Security: Federal Jury Finds Feeding Our Future Mastermind and Co-Defendant Guilty in $250 Million Pandemic Fraud Scheme

    Source: Office of United States Attorneys

    MINNEAPOLIS – Two individuals have been convicted by a federal jury for their roles in a $250 million fraud scheme that exploited a federally-funded child nutrition program, announced Acting U.S. Attorney Lisa D. Kirkpatrick.

    “Aimee Bock and Salim Said took advantage of the Covid-19 pandemic to carry out a massive fraud scheme that stole money meant to feed children,” said Acting U.S. Attorney Lisa D. Kirkpatrick.  “The defendants falsely claimed to have served 91 million meals, for which they fraudulently received nearly $250 million in federal funds.  That money did not go to feed kids.  Instead, it was used to fund their lavish lifestyles. Today’s verdict sends a message to the community that fraud against the government will not be tolerated.”

    “Stealing from the federal government is stealing from the American people – plain and simple. The egregious fraud uncovered in the Feeding our Future case represents the blatant betrayal of public trust. These criminals stole hundreds of millions in federal funding meant to feed hungry children during a crisis and instead funneled it into luxury homes, cars and lavish lifestyles while families struggled,” said Special Agent in Charge Alvin M. Winston Sr. of FBI Minneapolis. “The FBI will not allow criminals to rob federal programs and walk away unscathed. We will expose their schemes, dismantle their networks, and ensure they face the full weight of justice.”

    “Aimee Bock, Salim Said, and others took advantage of a global pandemic to rob food programs, aimed at serving those in need, of hundreds of millions of taxpayer dollars during a time when so many people were struggling,” said Ramsey Covington, Special Agent in Charge, IRS Criminal Investigation, Chicago Field Office. “Instead of overseeing the distribution of meals to low-income children, Bock’s organization enabled meal site operators to commit fraud. This verdict is the product of dedicated investigators and prosecutors to bring accountability to those who brazenly stole from the American public. IRS Criminal Investigation is deeply committed to working with our partner agencies to combat these types of fraud schemes and ensure our American tax dollars serve their intended purpose.”

    “Today’s verdict reaffirms how critical a role the U.S. Postal Inspection Service plays in protecting the American consumer from these types of fraudulent schemes and in ensuring that the nation’s U.S. mail stream is not used by criminals to prey upon our citizens and programs intended to aid those in need during difficult times.  The bold egregious nature in which these fraudsters victimized our children and programs intended to feed them during a world-wide pandemic illustrates their callous disregard for human decency and overall greed,” Bryan Musgrove, Inspector in Charge of the Denver Division stated. “This investigation is a tremendous example of how the U.S. Postal Inspection Service and our FBI law enforcement partners can work side by side in an effort to bring these fraudsters to justice.”

    Historically, the Federal Child Nutrition provided meals to children in school-based programs or activities. During the COVID-19 pandemic, the U.S. Department of Agriculture (USDA) waived some of the standard requirements for participation in the Federal Child Nutrition Program. Among other things, the USDA allowed for-profit restaurants to participate in the program, as well as allowed for off-site food distribution to children outside of educational programs. 
    As proven at trial, Aimee Bock, 44, was the founder and executive director of Feeding Our Future, a nonprofit organization that was a sponsor participating in the Federal Child Nutrition Program. Salim Said, 36, former co-owner of Safari Restaurant, was jointly tried with Bock. Together, they oversaw a massive fraud scheme carried out by sites under Feeding Our Future’s sponsorship. 

    As proven at trial, Feeding Our Future employees recruited individuals and entities to open Federal Child Nutrition Program sites throughout the state of Minnesota. These sites, created and operated by Bock, Said, and others, fraudulently claimed to be serving meals to thousands of children a day within just days or weeks of being formed. Bock and Said created and submitted false documentation, including fraudulent meal counts consisting of fake attendance rosters purporting to list the names and ages of the children receiving meals at the sites each day. Feeding Our Future submitted these fraudulent claims to the Minnesota Department of Education (MDE) and then disbursed the fraudulently obtained Federal Child Nutrition Program funds to their co-conspirators involved in the scheme.

    To accomplish their scheme, Bock and Said created dozens of shell companies to enroll in the program as food program sites, and to receive and launder the proceeds of their fraudulent scheme. In exchange for sponsoring these sites’ fraudulent participation in the program, Feeding Our Future received more than $18 million in administrative fees to which it was not entitled. In addition to the administrative fees, Feeding Our Future employees solicited and received bribes and kickbacks from individuals and companies sponsored by Feeding Our Future. Many of these kickbacks were paid in cash or disguised as “consulting fees” paid to shell companies created by Feeding Our Future employees to make them appear legitimate.

    As proven at trial, Said’s Safari Restaurant reported approximately $600,000 in annual revenue in each of the three years prior to the onset of the COVID-19 pandemic. In April 2020, Safari Restaurant enrolled in the Federal Child Nutrition Program under the sponsorship of Feeding Our Future. By July 2020, Said claimed to be serving meals to 5,000 children per day, seven days a week. In total, Said claimed to have served over 3.9 million meals to children from the Safari Restaurant food site between April 2020 and November 2021. Said also claimed that Safari Restaurant provided more than 2.2 million meals to other food sites involved in Feeding Our Future’s fraud scheme.

    In total, Feeding Our Future opened more than 250 Federal Child Nutrition Program sites throughout the state of Minnesota, and in doing so, went from receiving and disbursing approximately $3.4 million in federal funds in 2019 to nearly $200 million in 2021. Throughout the course of their scheme, Feeding Our Future fraudulently obtained and disbursed more than $240 million in Federal Child Nutrition Program funds. The defendants used the proceeds of their fraudulent scheme to purchase luxury vehicles, residential and commercial real estate in Minnesota as well as property in Ohio and Kentucky, real estate in Kenya and Turkey, and to fund international travel.

    After a six-week trial, Bock was convicted on four counts of wire fraud, one count of conspiracy to commit wire fraud, one count of bribery, and one count of conspiracy to commit federal programs bribery. Said was convicted on one count of conspiracy to commit wire fraud, four counts of wire fraud, one count of conspiracy to commit federal programs bribery, eight counts of bribery, one count conspiracy to commit money laundering and five counts of money laundering. 

    The case is the result of an investigation by the FBI, IRS – Criminal Investigations, and the U.S. Postal Inspection Service.

    Assistant U.S. Attorneys Joseph H. Thompson, Matthew S. Ebert, Harry M. Jacobs, and Daniel W. Bobier are prosecuting the case. Assistant U.S. Attorney Craig Baune is handling the seizure and forfeiture of assets.

    MIL Security OSI –

  • MIL-OSI Canada: 2025-26 Budget: Delivering For You

    Source: Government of Canada regional news

    Released on March 19, 2025

    Saskatchewan’s 2025-26 Provincial Budget is delivering for the people of Saskatchewan.

    Deputy Premier and Finance Minister Jim Reiter tabled a budget today that delivers on the priorities of Saskatchewan people – affordability, health care, education, safer communities and responsible financial management – while addressing the challenges of a growing province.

    “We understand this budget is being delivered at a very volatile time, due to the constantly changing tariff threats from the United States,” Reiter said. “Right now, we do not know what tariffs the U.S. may impose or how long they may last. As a result, it was not possible to build the exact impact of tariffs into the budget.

    “However, we are not letting the tariff threat prevent us from following through on our commitments to the people of Saskatchewan. Our strong financial position means we are well-positioned to weather the impact of any tariffs that may be imposed on Canada and Saskatchewan.”

    As a signal of strong financial management, the Government of Saskatchewan is delivering a balanced budget in 2025-26, with a surplus of $12 million.

    Affordability

    In the 2025-26 Budget, the Government of Saskatchewan continues to take action to ensure the province remains the most affordable place in Canada to live, work, raise a family and start a business.

    The budget reduces income taxes for every resident, family and small business in the province. It also helps make life more affordable for seniors, families with children, persons with disabilities, caregivers, new graduates, first-time homebuyers and people renovating their homes.

    The taxation changes introduced in the 2025-26 Budget, including the initiatives in The Saskatchewan Affordability Act, provide over $250 million in tax savings this year. This is in addition to the more than $2 billion in affordability measures in each and every budget.

    The affordability measures in the 2025-26 Budget include those that help make life more affordable and those that support our growing province. Among the measures are:

    • Raising the basic personal exemption, spousal and equivalent-to-spousal exemption, dependent child exemption and the seniors supplement by $500 a year, for the next four years – over and above the impact of indexation – for the largest personal income tax reduction in the province since 2008;
    • Increasing monthly income assistance benefits by two per cent for Saskatchewan Income Support (SIS) and Saskatchewan Assured income for Disability (SAID) clients;
    • Increasing the Disability Tax Credit and Caregiver Tax Credit by 25 per cent;
    • Doubling the Active Families Benefit refundable tax credit from $150 to $300 per child and doubling the income threshold to qualify to $120,000 to make children’s sports, arts, cultural and recreational activities more affordable for more Saskatchewan families;
    • Reinstating the Home Renovation Tax Credit, which will allow homeowners to save up to $420 annually in home renovation expenses, while seniors undertaking home renovations can save up to $525; 
    • Increasing the Graduate Retention Program benefit by 20 per cent to a maximum of $24,000; and
    • Permanently maintaining the small business tax rate at one per cent, benefiting more than 35,000 small businesses in Saskatchewan and saving them over $50 million in corporate income taxes annually.

    Property owners will also receive relief in this year’s budget. All education property tax mill rates will be reduced to absorb the increase in property assessment values and ensure this assessment year is revenue neutral for the province in each property class. This change will save property owners in the province more than $100 million annually.

    This is in addition to the Government of Saskatchewan extending the carbon tax exemption on home heating, which is expected to save the average Saskatchewan family approximately $480 in 2025.

    Health Care

    The 2025-26 Budget delivers better patient access and safer, more responsive care for Saskatchewan residents.

    Over the last two years, the Government of Saskatchewan has invested $15.7 billion in health care in the province. In the 2025-26 Budget:

    • The Ministry of Health receives a record $8.1 billion, an increase of $485 million, or 6.4 per cent;
    • The Saskatchewan Health Authority receives an increase of $261 million, or 5.6 per cent, for a record $4.9 billion budget; and
    • The Saskatchewan Cancer Agency receives $279 million, an increase of $30 million, or 12.2 per cent.

    This funding will provide better access to acute care programs and services to improve patient outcomes, such as:

    • Reducing surgical wait times as part of an ambitious plan to perform 450,000 procedures over four years; and
    • Realigning services at Saskatoon City Hospital to address inpatient capacity pressures by opening more than 100 beds.

    Mental health and addictions programs and services receive $624 million – 7.7 per cent of the overall Health budget – to deliver critical support and investments in Saskatchewan, including an increase of $20 million for targeted initiatives. This includes continued progress on the multi-year Mental Health and Addictions Action Plan, and expanded access to mental health and addictions services and care by delivering on the commitment to add 500 addictions treatment spaces across the province, doubling the public health system’s capacity.

    To ensure the professionals are in place to provide health care services, this year’s budget accelerates the hiring of health care professionals through the Health Human Resources Action Plan.

    The 25-26 Budget also invests in steady and significant progress on multiple infrastructure projects.

    Due to the positive response to the Regina Urgent Care Centre, planning is underway for additional urgent care centres in Moose Jaw, Prince Albert and North Battleford, as well as second urgent care centres in Regina and Saskatoon. 

    The budget also provides new capital funding for the expansion of Complex Needs Emergency Shelters in new communities, building on the pilot projects in Regina and Saskatoon. 

    Overall, health capital funding will increase by $140 million, for a total of $657 million – the highest ever capital budget to deliver major health infrastructure projects.

    Education

    Kindergarten to Grade 12

    The 2025-26 Budget delivers increased opportunities and supports for kindergarten to Grade 12 students, parents and teachers across Saskatchewan. 

    Over the last two years, more than $5 billion has been invested in kindergarten to Grade 12 education. In this year’s budget, the Ministry of Education receives $3.5 billion, an increase of $184 million, or 5.5 per cent, over the previous year. That includes an increase of $186 million, or 8.4 per cent, in school operating funding for a total of $2.4 billion.

    The 2025-26 Budget also includes an increase of $130 million to fund the new teacher collective agreement and address growing student enrollment and the challenges facing today’s classrooms. 

    Building on the success of last year’s pilot project in eight Saskatchewan schools, the budget provides funding for 50 additional specialized support classrooms throughout the province. The specialized classrooms help reduce interruptions by providing additional supports to students who need them. 

    Student literacy is another area of emphasis in the 2025-26 Budget. Learning to read is one of the most valuable skills developed during childhood and sets the foundation for lifelong academic success. For this reason, this year’s budget provides additional funding to improve kindergarten to Grade 3 reading levels in Saskatchewan.

    The budget delivers on the challenges of student enrolment growth by investing in new schools with a $191 million school capital budget. This includes ongoing funding for the 21 new or consolidated schools and three major renovations underway across Saskatchewan, as well as funding to begin planning for one new replacement school and preplanning for four new schools in the Saskatoon area.

    Post-Secondary

    The 2025-26 Budget also supports students as they advance into post-secondary education. It provides opportunities that will allow students to pursue post-secondary education close to home while focusing on programs that meet the needs of Saskatchewan’s labour force and provincial economy.

    The Ministry of Advanced Education receives $788 million in this year’s budget, with $1.6 billion invested in post-secondary education over the past two years. As part of their budget, universities, technical schools, Indigenous institutions and regional colleges will receive $718 million in operating and capital funding.

    Health care training is a key priority as part of the province’s Health Human Resources Action Plan. New and expanded programs will help build a stronger health care workforce to meet the needs of Saskatchewan residents, including training seats in areas of critical need. This includes supporting:

    • 60 new training seats this year – more than 900 training seats overall – for nurse practitioners, registered psychiatric nurses and medical radiologic technologists; and
    • Four new training programs that will be ready to accept students in fall 2025 (physician assistant) and fall 2026 (speech-language pathology, occupational therapy, respiratory therapy).

    The 2025-26 Budget also delivers work on strategies to address veterinary services in rural and urban communities. This includes working toward an expansion of the Western College of Veterinary Medicine in the future.

    To help ensure predictable and stable funding for the province’s post-secondary institutions, the 2025-26 Budget extends the current multi-year funding agreement for an additional year. The extension will allow government and post-secondary institutions time to work through the potential impacts of the federal government’s reduction of foreign student visas, before engaging in another multi-year funding agreement.

    Community Safety

    The 2025-26 Budget delivers safer communities across the province by enhancing the presence of law enforcement in Saskatchewan. 

    Over the last two years, $2 billion has been invested into community safety. For the upcoming fiscal year, the Ministry of Corrections, Policing and Public Safety will receive $798 million, including $119 million for the Saskatchewan Public Safety Agency, while the Ministry of Justice and Attorney General will receive $271 million.

    Increases to the Municipal Police Grant Program will help frontline officers respond to more calls for service, while increased funding for the RCMP will support operations in the province and the RCMP First Nations Policing Program. The budget also includes funding for previous commitments for approximately 100 new municipal police officers, 14 new Safer Communities and Neighbourhoods personnel and funding for the Saskatchewan Police College to train more officers in the province.

    This enhanced law enforcement presence extends to the border with the United States. The Saskatchewan Border Security Plan was introduced in January 2025 to mobilize Provincial Protective Services officers to work in partnership with provincial policing services and federal agencies to boost law enforcement near the border.

    To complement the increased presence of law enforcement personnel, the 2025-26 Budget includes funding to improve safety for correctional staff, offenders and the public, as well as address capacity concerns at correctional facilities. 

    Additional investments will be made in interpersonal violence programs and services, including second-stage housing. The budget also delivers funding to create a more accessible court system for municipal bylaw offences and ensuring cases are complete and ready to move to trial more quickly. 

    Delivering More For You

    The 2025-26 Budget delivers on the priorities of affordability, health care, education, community safety and fiscal responsibility. However, it delivers more than that. Some of the other important initiatives in this year’s budget include:

    • A record $362 million in municipal revenue sharing, an increase of $22 million, or 6.3 per cent, from 2024-25.
    • New funding to start multi-year repair and renovation projects for 285 Saskatchewan Housing Corporation-owned units in Saskatoon, Regina and Prince Albert.
    • Funding for expanded homelessness services developed through the Provincial Approach to Homelessness. This includes investments in the Rental Development Program to partner with third-party organizations to develop new supportive housing units for people who need additional support to live independently.
    • Over the past two years, funding from the Ministry of Social Services has created 120 new emergency shelter spaces, 155 new supportive housing spaces, new street outreach services and an expanded income assistance mobile workforce serving clients on-site at more than 30 community-based organization locations.
    • A grant to the Food Banks of Saskatchewan to fulfill the Government of Saskatchewan’s two-year commitment to help families and food banks with high food costs.
    • A $20 million increase across government in funding for community-based organizations.
    • The creation of a new Saskatchewan Young Entrepreneur Bursary, which is an annual grant of $285,000 for a maximum of 57 bursaries distributed to support youth entrepreneurship in the province.
    • The creation of a new Small and Medium Enterprise Investment Tax Credit, a 45 per cent non-refundable tax credit for individuals or corporations that invest in the equity of an eligible Saskatchewan small and medium size enterprise.
    • Introduction of the Low Productivity and Reactivation Oil Well Program to encourage industry to make new capital investments in low-producing and inactive horizontal oil wells.
    • Investment in capital projects that will improve our provincial transportation system, including:
      • Passing lanes for Highway 10 between Fort Qu’Appelle and Melville, and Highway 17 north of Lloydminster;
      • Highway 39 twinning at Weyburn; 
      • Ongoing corridor improvements on Highway 5 east of Saskatoon; and 
      • Improvements of more than 1,000 kilometres of provincial highways.

    Fiscal Responsibility

    The surplus forecast for the 2025-26 Budget leaves Saskatchewan in one of the strongest financial positions among provinces.

    The surplus is driven by forecast revenues of $21.1 billion, an increase of $1.2 billion, or 6 per cent, compared to last year. Total expense is projected to be $21.0 billion, which is an increase of $909 million, or 4.5 per cent, from the 2024-25 Budget.

    Non-Renewable Resources revenue accounts for 12.8 per cent of total expense in this year’s budget. 

    Another sign of Saskatchewan’s strong financial position is the province’s net debt position, which remains the second lowest net debt-to-GDP ratio among Canadian provinces at 14.6 per cent. 

    The Government of Saskatchewan’s prudent financial management is also reflected in the province’s credit ratings. Saskatchewan currently maintains the second-best credit rating among the provinces when the ratings from the three major agencies – Moody’s Investors Service, Morningstar DBRS and S&P Global – are considered.

    Saskatchewan’s strong financial position in this year’s budget is buoyed by the provincial economy’s solid performance in 2024. Building upon this momentum, the Saskatchewan economy is expected to continue to grow in 2025 with real GDP projected to grow by 1.8 per cent according to the average private-sector forecast. 

    For more information on the 2025-26 Provincial Budget, please review the budget materials and ministry news releases on saskatchewan.ca/budget. 

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    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Canada: Innovation Saskatchewan Delivering Research Infrastructure to Strengthen Global Leadership

    Source: Government of Canada regional news

    Released on March 19, 2025

    Innovation Saskatchewan, the provincial government’s innovation agency, is investing in research infrastructure to support Saskatchewan’s world-class research community.

    The 2025-26 Budget includes a $3.0 million commitment to the Canadian Light Source (CLS) and an additional $4.1 million commitment to the Vaccine and Infectious Disease Organization (VIDO) for enhancements to equipment and infrastructure.

    These targeted investments will strengthen existing facilities foundational to the province’s research landscape, making it easier for innovators to develop ideas in Saskatchewan, attract and retain top talent and share high-demand solutions with the world.

    “Saskatchewan is a global leader in cutting-edge research and technological innovation,” Minister Responsible for Innovation Saskatchewan Warren Kaeding said. “By investing in the province’s world-class research community, we are accelerating made-in-Saskatchewan solutions to global challenges, creating jobs and driving economic growth to achieve our 2030 Growth Plan goals.”

    A cornerstone of Saskatchewan’s research leadership is its network of world-class research centres, including CLS, a major international research facility home to Canada’s only synchrotron and one of the most advanced in the world, and VIDO, a global leader in infectious disease and vaccine research for over half a century.

    The additional $3.0 million for CLS matches federal funding to add new state-of-the-art equipment essential to continuing reliable and sustainable operations. The funding ensures CLS will remain at the forefront of research innovation and enhance its ability to advance scientific discovery.

    The additional $4.1 million commitment for VIDO builds on Innovation Saskatchewan’s $15.0 million commitment in 2021 to expand capabilities for the organization to become Canada’s Centre for Pandemic Research. This includes upgrading facilities to containment Level 4 standards – the highest level possible. Once completed, VIDO will be Canada’s only non-governmental facility capable of handling the world’s most dangerous pathogens, elevating Saskatchewan’s role in global health security.

    “For decades, Saskatchewan has strategically built a dynamic research ecosystem and CLS and VIDO are central to that vision,” Innovation Saskatchewan CEO Kari Harvey said. “Strengthening our commitments will broaden our impact, securing our province’s future and cementing our reputation as a global research leader.”

    In addition to the 2025-26 research investment, Innovation Saskatchewan continues planning for the redevelopment of the Galleria, the flagship building at its Innovation Place research and technology park in Saskatoon. The west wing is being transformed into a multi-tenant space for scaling companies – particularly those in agtech and other key sector industries – with integrated laboratories, pilot plant space and other specialized infrastructure to support Saskatchewan’s growing technology sector.    

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI Australia: Automatic Mutual Recognition expanded in NSW

    Source: New South Wales Premiere

    Published: 19 March 2025

    Released by: Minister for Better Regulation and Fair Trading

    The Minns Labor Government has moved to make it easier for more qualified workers from interstate to operate in NSW after the passing of new laws last night expanding Automatic Mutual Recognition (AMR) to more industries.

    From 1 July 2025, conveyancers, real estate and property agents, and automotive industry workers from interstate will be allowed to work in NSW without having to get a separate NSW licence.

    The AMR scheme supports workers and businesses across Australia by facilitating worker movement between states by reducing red tape and removing the need to apply and pay for another licence.

    Under AMR, interstate licensees must also meet relevant mandatory compensation fund obligations while working here.

    The Minns Labor Government has acted carefully to ensure consumers across the state are protected by the same regulatory enforcement as people licenced to work in these industries in NSW.

    The laws passed by the Minns Labor Government allow NSW Fair Trading to calculate and collect compensation fund contributions from conveyancers, property and stock agents, and motor dealers and repairers, ensuring customers can seek compensation as a last resort if they suffer a financial loss caused by an interstate operator.

    From 1 July 2025, conveyancers, real estate and property agents, and automotive occupations will join the range of trades and professions already covered under the AMR scheme, including electrical, tow trucks, some construction trades, and traffic control industries.

    For more information please visit the Browse your occupation webpage.

    Quotes attributable to Minister for Better Regulation and Fair Trading Anoulack Chanthivong:

    “This legislation recognises the licenced interstate workers we need and supports both workers and businesses across Australia by removing red tape and reducing costs, which will allow NSW businesses access to a larger employment market.

    “With more occupations now added since the Automatic Mutual Recognition scheme was introduced in 2021, it now allows more workers greater movement across industries with similar national standards, while still maintaining and protecting consumer rights.”

    MIL OSI News –

  • MIL-OSI Submissions: Hong Kong: Article 23 law used to ‘normalize’ repression one year since enactment – Amnesty International

    Source: Amnesty International

    Just one year after its passage, Hong Kong’s Article 23 law has further squeezed people’s freedoms and enabled authorities to intensify their crackdown on peaceful activism in the city and beyond, Amnesty International said.

    “Over the past year, Article 23 has been used to entrench a ‘new normal’ of systematic repression of dissent, criminalizing peaceful acts in increasingly absurd ways,” said Amnesty International’s China Director Sarah Brooks.

    “People have been targeted and harshly punished for the clothes they wear as well as the things they say and write, or for minor acts of protest, intensifying the climate of fear that already pervaded Hong Kong. Freedom of expression has never been under greater attack.”

    People convicted and jailed for peaceful expression

    The Safeguarding National Security Ordinance (known as Article 23) took effect on 23 March 2024. Amnesty International’s analysis shows that 16 people have since been arrested for sedition under Article 23. Five of them were officially charged under the law, and the other 11 were released without charge. None of those arrested is accused of engaging in violence, while the authorities have accused two of them of inciting violence without yet disclosing any details.

    Three of the charged individuals – after facing around three months’ pre-trial detention – were convicted for, respectively, wearing a T-shirt and mask printed with protest slogans; criticizing the government online; and writing protest slogans on bus seats. They were sentenced to between 10 and 14 months in prison.

    The remaining two charged people have been held in detention awaiting trial since November 2024 and January 2025, respectively. They are accused of publishing “seditious” posts on social media platforms.

    Article 23 entrenches denial of bail

    The presumption against bail in national security cases, originally imposed by the Beijing-enacted National Security Law (NSL), has now been extended to offences under Article 23. Among the five individuals charged under Article 23, the two who applied for bail had their applications denied because the magistrate believed they may “continue to commit acts endangering national security” – the same reasoning used to deny bail to others prosecuted under the NSL, including newspaper founder Jimmy Lai and opposition politicians.

    The remaining 11 individuals arrested under Article 23 are variously accused of publishing “seditious” posts, commemorating the 1989 Tiananmen crackdown and spreading “disinformation”. Despite having been released by the police without official charge, they remain at risk of prosecution at any time because Article 23 does not impose a time limit on bringing criminal charges.

    “Article 23 has been wielded by the Hong Kong government as a tool to suppress critical voices with the ultimate aim of eradicating them. Alongside the NSL, it has handed the authorities virtually unchecked power to arrest and jail anybody criticizing the government. The result is a Hong Kong where people are forced to second-guess what they say and write, and even what they wear,” Sarah Brooks said.

    “The now default use of pre-trial detention and refusal of bail are alarming examples of how Article 23 has been used to reinforce the repressive tools first introduced under the NSL.”

    ‘National security’ as a trump card overriding established laws

    Article 23 has also been weaponized to impose additional punitive measures against dissidents already serving sentences. Under the existing Prison Rules, last amended in 2014, prisoners with good conduct were eligible for early release after serving two-thirds of their sentences. However, according to new rules set by Article 23, the prison authorities can waive this practice if the release would be “contrary to the interests of national security”.

    Notably, at least two jailed activists have been denied early release, despite the fact that they were not convicted under Article 23 and had already begun serving their sentences before its enactment.

    One of the activists – who was convicted of incitement to wound, a charge unrelated to any national security legislation – was barred from early release despite Article 23 expressly stating that the new rules apply only to prisoners convicted of offences endangering national security.

    “Retroactively denying early release based on vague national security justifications undermines legal certainty and due process. The government’s failure to comply with the very text that it drafted further raises serious concerns about the arbitrary application of Article 23,” Sarah Brooks said.

    Extraterritorial application against overseas activists

    The worrying impact of Article 23 on human rights is not restricted to Hong Kong. Authorities have invoked Article 23’s extraterritorial scope to penalize a total of 13 Hong Kong activists residing overseas, including in the UK, the US, Canada and Australia. These penalties have included the cancellation of passports, suspension of lawyer licenses, removal from company directorships and prohibition of financial transactions, restricting a range of human rights such as their freedom of movement, right to privacy and right to work.

    These measures have been imposed alongside arrest warrants issued under the NSL, each carrying a HK$1 million (US$128,700) bounty, for these 13 individuals and six other overseas activists.

    “By sanctioning activists overseas, the Hong Kong government is attempting to extend its draconian laws beyond its borders to target potentially anyone, anywhere. The situation has resulted in a chilling effect on individuals who persist in exercising their freedom of expression, even after departing from the city. The international community cannot afford to ignore Article 23’s intended extraterritorial reach,” Sarah Brooks said.

    “We urge the Hong Kong and Chinese governments to immediately repeal Article 23, the NSL and any other legislation which violates international human rights laws and standards. We also call on other governments to safeguard the fundamental rights and freedoms of Hongkongers, in particular those actively defending human rights, within their jurisdictions.

    “The rising risk of transnational repression, which Amnesty has documented and which is explicitly tied to Hong Kong’s national security legislation, demands a response by governments worldwide. As a start, that means denouncing incidents of transnational repression and pursuing accountability for criminal acts targeting activists and others in the country of residence.”

    Background

    On 19 March 2024, Hong Kong’s Legislative Council unanimously voted to pass the Safeguarding National Security Ordinance based on Article 23 of the Basic Law, Hong Kong’s mini-constitution.

    The law, which took effect on 23 March 2024, introduced China’s definition of “national security” and “state secrets”, together with other broadly defined offences which further restricted freedom of expression and the right to protest. It also replaced a widely used colonial-era sedition law with its own provisions on sedition which now expressly cover acts or speech which do not incite violence. The maximum prison sentence for sedition was increased from two to seven years, or up to 10 years if involving “collusion with an external force”.

    Amnesty International submitted an analysis of its proposals to the government during the consultation period, concluding that the offences and changes to investigatory powers are contrary to Hong Kong’s human rights obligations. After the law was passed, Amnesty International issued a briefing paperproviding an in-depth analysis of the effects of the law on both Chinese and non-Chinese individuals, in particular via its purported extraterritorial application.

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Africa Finance Corporation (AFC) Joins Ecobank and Soto Gallery for 2nd edition of the +234Art Fair to elevate African art and empower artists

    SOURCE: Africa Finance Corporation (AFC)

    Visitors will experience a wide range of artistic expressions, including painting, sculpture, visual and digital art, installations, and more

    LAGOS, Nigeria, March 19, 2025/ — Africa Finance Corporation (AFC) (www.AfricaFC.org), the leading infrastructure solutions provider in Africa, has announced its support for the +234Art Fair, coming on as partners for the second year in a row. This aligns with the Corporation’s commitment to empowering and elevating the continent’s youth, with more than 260 young artists expressing interest in exhibiting their works at the second edition of the international art fair, organized by Soto Gallery in collaboration with Ecobank Nigeria Limited, AFC and Craneburg Construction Company.

    This meticulously curated five-day event, titled “Championing Patronage in Nigerian Art,” will feature the works of emerging and un-galleried artists. The fair will run from March 27th to March 31st at the Ecobank Pan African Centre, located at 270B1, Ozumba Mbadiwe Avenue, Victoria Island, starting daily at 10:00 AM.

    Samaila Zubairu, President & CEO of the Africa Finance Corporation, stated, “The +234Art Fair aligns with AFC’s advocacy strategy of empowering and elevating Africa’s youthful population, thereby fostering job creation, skills development, value retention and rapid economic growth. We are proud to continue our collaboration with Ecobank to help drive Africa’s creative industry forward by creating a catalyst for promoting African art and artists locally and on the global stage.”

    Bolaji Lawal, Managing Director and Regional Executive, Ecobank Nigeria, shared, “As a Pan-African bank, this fair is an important initiative in our commitment to economic growth and investing in Africa’s next generation of talent. It offers emerging artists a unique opportunity to showcase their works to key decision-makers, influencers, and a global audience.”

    Mrs. Tola Akerele, Founder of +234 Art Fair and Soto Gallery Foundation, emphasized, “Patronage in the art world goes beyond financial support; it’s about building relationships that allow artists to grow and sustain their creative practices. The 2025 edition of the +234 Art Fair aims to show how meaningful support can impact an artist’s journey and the broader art ecosystem, fostering essential connections along the way.”

    The +234 Art Fair celebrates the dynamic talents of Nigeria’s emerging artists, offering them a vital platform to share their work with a broader audience. Visitors will experience a wide range of artistic expressions, including painting, sculpture, visual and digital art, installations, and more. The fair will also feature interactive workshops, panel discussions, and networking opportunities for artists, art enthusiasts, and key stakeholders in the creative sector.

    The event is expected to draw a diverse group of attendees, including Nigerians, Africans, international residents, government officials, policymakers, diplomats, and global art lovers.

    About AFC:
    AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

    Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.

    www.AfricaFC.org

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Tech – 48% of all 2025 unicorns work in AI sector – Finbold Research

    Source: Finbold

    Finbold research found that during the first quarter of 2025, as many as 48% of the 23 startups that attained unicorn status – exceeded $1 billion in valuation – were involved with the artificial intelligence (AI) sector.

    Furthermore, 70% of these AI unicorns are concentrated in the top ten biggest startups, as seven out of eleven fall within the range between $1.6 billion and $2.8 billion.

    Most artificial intelligence startups are from the US, though two emerged in the UK, one in Israel, and one in Sweden. Interestingly, given the recent developments in the country, none of the billion-dollar startups were located in China in 2025.

    Regarding specialization, a plurality of 45% of these firms are involved with healthcare technology, including the biggest new unicorn: Abridge.

    AI remains a powerful venture capital magnet

    While there is a significant synchronization between company valuation and funding received, it is noteworthy that the second-smallest of the new unicorns – the UK’s Cera – received the most money from venture capitalists: $582 million.

    Cera simultaneously showcases that many of these companies aren’t new, as it was founded in 2016, but also that AI continues to have the ability to draw massive investments from institutional investors as much as from retail traders.

    As Andreja Stojanovic, a co-author of this research, pointed out:

    “Given AI’s explosive growth, it’s surprising that even more AI unicorns haven’t emerged in 2025. Artificial intelligence has been a major driver of growth since the public release of ChatGPT in late 2022. Publicly traded companies that are either directly involved with the technology or strongly linked to the sector in investor perception have been some of the strongest stock market performers in recent years.”

    At face value, it appears certain that 2025 will feature many more AI unicorns. However, recent disruptions in the sector that emerged from China, as well as the fears that the US may have already entered a recession, could still diminish venture capital spending.

    Read the full story with statistics at: https://finbold.com/48-of-all-2025-unicorns-work-in-ai-sector/

    MIL OSI – Submitted News –

  • MIL-OSI Submissions: Energy – La Société Nationale des Pétroles du Congo (SNPC) Powers Congo’s Energy Growth, Set to Take Center Stage at Congo Energy & Investment Forum (CEIF) 2025

    SOURCE: Energy Capital & Power

    Société Nationale des Pétroles du Congo is driving Congo’s energy sector expansion, with Director General Maixent Raoul Ominga set to highlight the company’s role at the inaugural Congo Energy & Investment Forum

    BRAZZAVILLE, Congo (Republic of the), March 18, 2025/ — Maixent Raoul Ominga, Director General of Société Nationale des Pétroles du Congo, will deliver a keynote address at the inaugural Congo Energy & Investment Forum (CEIF) in Brazzaville this March. Leading the expansion of the Republic of Congo’s upstream sector, the national oil company is advancing key onshore assets across the country – including the Nanga I, Kouakouala II, Zingali II and Le Mayombe II fields – aligning with Congo’s goal of increasing oil production to 500,000 barrels per day by 2027.

    Under Ominga’s leadership, SNPC is a key supporter of CEIF 2025, with his participation underscoring the NOC’s growing influence in Africa’s energy sector and strengthening its role in on- and offshore exploration and production. As the company drives strategic investments and partnerships, SNPC continues to play a crucial role in positioning Congo as a competitive player in the regional energy landscape.

    The inaugural Congo Energy & Investment Forum, set for March 24-26, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

    Last month, SNPC launched a $158 million bond issuance – the first in its securities issuance program – to bolster drilling activities and expand national oil production. In parallel, SNPC has partnered with the State Oil Company of the Republic of Azerbaijan to modernize the CORAF refinery. This initiative aims to boost refining capacity and product quality while aligning operations with environmental regulations, enhancing Congo’s energy security.

    At CEIF 2025, SNPC is set to unveil its Gas Master Plan, driving gas monetization through new infrastructure, including pipelines, processing facilities and gas-to-power plants. The Republic of Congo will also launch its licensing round for open oil and gas blocks, reinforcing efforts to increase hydrocarbon production and revenue diversification. Ominga’s participation at CEIF 2025 is pivotal in attracting investment to Congo’s energy sector, with the event serving as a platform for industry leaders, policymakers and investors to explore collaboration and new opportunities in the country’s growing oil and gas industry.

    “As Director General of SNPC, Ominga’s leadership is instrumental in shaping the future of Congo’s energy sector. His presence at CEIF 2025 offers a unique opportunity to engage with industry leaders and investors, fostering collaboration and driving sectoral growth,” says Sandra Jeque, Events and Project Director at Energy Capital & Power.

    MIL OSI – Submitted News –

  • MIL-OSI New Zealand: Banking and Finance – Further drops to ASB’s fixed mortgage rates

    Source: ASB

    ASB has today reduced several of its fixed home lending rates by up to 20 basis points, marking the bank’s fifth fixed rate mortgage drop in 2025. ASB is reducing its 6-month rate by 10 basis points from 5.89% to 5.79%, while the longer-term 4-and-5-year rates have dropped to 5.59% and 5.69% respectively.

    ASB’s Executive General Manager Personal Banking Adam Boyd says “We’ve been consistent in our ambition to support New Zealanders on their home ownership journey with lower mortgage rates and today’s announcement is our fifth decrease to fixed mortgage rates this year. We’re seeing a growing number of customers splitting their mortgages across different terms to hedge their bets in the current climate, and we’re pleased to be able to offer a range of lending options to suit homeowners’ and homebuyers’ diverse needs.”  

    ASB has also lowered some of its term deposit rates by between 5 and 20 basis points.

    All rate decreases are effective immediately.

     

      Fixed home lending term

    Previous rate

    New rate

    Rate decrease

    6-month

    5.89%

    5.79%

    – 10 bps

    4-year

    5.79%

    5.59%

    – 20 bps

    5-year

    5.79%

    5.69%

    – 10 bps

     

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Dairy and Business – Fonterra’s momentum delivers strong FY25 interim earnings and dividend

    Source: Fonterra

    • Operating profit: NZ $1,107 million, up 16%  
    • Profit after tax: NZ $729 million, up 8%  
    • Earnings per share: 44 cents per share, up 10% 
    • Return on capital: 10.2% down from 13.4%  
    • Interim dividend, fully imputed: 22 cents per share 
    • Forecast Farmgate Milk Price range narrows: NZ $9.70 – $10.30 per kgMS 
    • Forecast milk collections: 1,510 million kgMS, up 2.7%   
    • FY25 full year forecast earnings range: 55-75 cents per share.

    Fonterra Co-operative Group Ltd today announced a positive FY25 interim result as the Co-op continues to make good progress on implementing its strategy.

    Fonterra has reported a half year Profit after Tax of $729 million, earnings of 44 cents per share and a decision to pay an interim dividend of 22 cents per share, alongside a 2024/25 season forecast Farmgate Milk Price midpoint of $10.00 per kgMS.    

    Fonterra CEO Miles Hurrell says it’s pleasing to be able to deliver these results for farmer shareholders and unit holders.

    “We’re focusing on driving value which includes delivering strong financial performance while achieving the highest sustainable Farmgate Milk Price,” says Mr Hurrell.  

    “At the same time, we’re looking ahead as we implement our strategy and continue to invest for the future. We have commenced projects to unlock manufacturing production capacity for our Ingredients and Foodservice channels, with site works now underway at Studholme for high-value protein capacity and at Edendale for a new UHT cream plant.

    “We’re also continuing to invest to future proof our operations and supply chain network, with work underway on a new Whareroa coolstore and plans for decarbonisation projects at Clandeboye, Edendale, Edgecumbe and Whareroa to secure energy supply and reduce the Co-op’s emissions.

    “As we focus on delivering the strongest farmer offering, we have announced new funding for farmers with lower emissions milk and expanded the Fixed Milk Price programme that farmers can use to get more certainty around the Farmgate Milk Price,” says Mr Hurrell.  

    Farmgate Milk Price

    Fonterra is committed to delivering the highest sustainable Farmgate Milk Price to farmers. For the current season, the forecast Farmgate Milk Price range is narrowing from $9.50-$10.50 per kgMS to $9.70-$10.30, with the midpoint holding at $10.00 per kgMS.  

    “We’re seeing good demand for our quality products, and our teams have worked hard to optimise our product portfolio to capture value from the market conditions, leaving us well contracted for the season.  

    “We have also optimised the current season’s Advance Rate Schedule to get cash to farmers sooner, underpinned by our balance sheet strength.

    “In terms of milk flows, our forecast milk collections for the year are up 2.7% on this time last year to 1,510 million kgMS. This follows favourable pasture growth across most of New Zealand earlier in the season, noting many parts of the country are currently experiencing very dry conditions,” says Mr Hurrell.

    Business performance  

    Fonterra’s strong half year performance was underpinned by an optimised product mix, designed to capture value across the Co-op’s sales channels.  

    “Our robust first half performance saw earnings growing alongside the strong Farmgate Milk Price, reflecting the strength of our core business.  

    “Ingredients channel performance has been a highlight this half, with sales volume down 3.9% and operating profit up $229 million to $696 million, reflecting better margins and improved product mix.  

    “Our Foodservice channel has seen sales volume growth of 8.3% this half, with Q2 gross margins significantly up on Q1 as pricing adjusted to the higher milk price. Foodservice operating profit for the half was a healthy $230 million, compared to the record high of $342 million in FY24 when input costs were much lower.  

    “The Consumer channel saw good sales volumes, up 8.5%, and margin growth, despite the higher Farmgate Milk Price,with operating profit largely flat on prior period at $173 million.

    “Meanwhile, our IT & Digital transformation project, a once in a generation replacement of the Co-op’s Enterprise Resource Planning software, is progressing well and remains on budget. The project is expected to cost NZ $450-500 million across six years and annual expenditure reaches its peak in FY25 at $130 million. This spend is included in our previously announced earnings forecast and despite this spend, our FY25 results remain strong,” says Mr Hurrell.  

    Outlook

    We have recently increased Fonterra’s FY25 full year forecast earnings range to 55-75 cents per share*, which reflects the underlying strength of our core business as well as the resilience in our Consumer channel.  

    “The Co-op is in a great shape, with milk collections, the forecast Farmgate Milk Price and earnings performance all up on this time last year.  

    “As we look to the balance of the year ahead, we’re focused on maintaining this momentum in performance, while progressing delivery of our strategy, including the dual-track Consumer divestment process which is on track as planned,” says Mr Hurrell.  

    Note:  *This forecast earnings range reflects Fonterra’s underlying earnings before any deduction for forecast costs associated with the Consumer divestment. When the Fonterra Board considers the full year dividend for FY25, it will consider, amongst other factors, the nature of the underlying earnings and whether it is appropriate to include any costs associated with asset sales in the financial year.

    MIL OSI New Zealand News –

  • MIL-OSI Banking: 2025 Annual Meetings: Regional corridors as drivers of continental integration

    Source: African Development Bank Group
    “It is only via regional corridors that we will be able to move goods and services easily across the continent, reduce transport costs, encourage integration and achieve effective economic development,” Dr Akinwumi Adesina, President of the African Development Bank Group, said recently.

    MIL OSI Global Banks –

  • MIL-OSI New Zealand: Finance – ‘Rate wars’ could see borrowers go long again – CoreLogic

    Source: CoreLogic

    As more new and existing borrowers begin to benefit from lower mortgage rates following the Reserve Bank of New Zealand’s (RBNZ) cutting cycle, market turnover levels and property values should continue to trend higher in the coming months.

    The ‘Chart of the Month’ from CoreLogic NZ’s March Housing Chart Pack looks at RBNZ data, revealing that, in January, only 10% of new borrowers across the country opted for fixed terms longer than 12 months. (ref. https://www.corelogic.co.nz/news-research/reports/housing-chart-pack )

    In other words, 90% of borrowers chose a floating or short-fixed rate (6-12 months).

    CoreLogic NZ Chief Property Economist Kelvin Davidson said while loans fixed for longer than 12 months remained unpopular in January, the recent emergence of ‘rate wars’ suggests borrowing behaviour will be something to watch closely.

    “Around 71% of NZ’s existing mortgages by value are currently fixed but due to reprice onto a new mortgage rate soon, and another 12% is floating. Over the past two-to-three years, these repricing events have generally meant a higher mortgage rate for borrowers.

    “However, that situation has now turned around again, and with rate wars recently emerging among lenders offering lower 2-3 year fixed rates, we could start to see a shift back towards them pretty shortly.

    “Both for new borrowers and those repricing existing loans. In other words, the fixation with short-fixes might be about to come to an end,” Mr Davidson said.

    He added that loan sizes remain relatively low in compared to incomes, meaning debt-to-income (DTI) ratios are under control.

    Mr Davidson emphasised that the market is also unlikely to see an immediate switch in power from buyers to sellers.

    “The stock of listings available to purchase is currently at its highest level for this time of year since at least 2018, which means buyers can still take their time to try and achieve a deal in their favour.”

    “For investors, lower mortgage rates will make new property purchases more affordable, which have required significant top-ups from other income sources over the past couple of years.”

    Overall, Mr Davidson predicts that 2025 is likely to see a subdued upturn in the property market.

    “We’re just at the beginning of seeing the first clear signs that the downturn in property values has come to an end.”

    “The CoreLogic Home Value Index recorded a 0.3% rise in February, with Christchurch and Dunedin both increasing by 0.6%, and even the previously weak Wellington area seeing a mild 0.1% lift.”

    “Nationally, property values could rise further by around 5% this year,” he concluded.
    Highlights from the March 2025 Housing Chart Pack include:

    New Zealand’s residential real estate market is worth a combined $1.64 trillion.
    The CoreLogic Home Value Index shows property values across New Zealand increased 0.3% in the month of February. Over the three months to February, there was a minor 0.1% rise in median property values across NZ.

    The total sales count over the 12 months to March is 82,757.
    Total listings on the market were 31,838 in February to be 26% up on the five-year average. Total listing counts in Northland and Waikato are lower than last year, but Canterbury, Wellington, Otago, and Gisborne have seen sizeable increases of 10% and more.
    Rental market conditions remain in favour of tenants, as net migration eases down from its very high peak, and the stock of available rental listings on the market stays elevated.
    Gross rental yields now stand at 3.9%, which Is the highest level since mid-2015.
    Inflation is firmly back in the 1–3% target range, and with February’s 0.5% cut, further OCR reductions seem likely in the coming months.
    The Chart of the Month shows that just 10% of new borrowers in January nationwide chose fixed terms longer than 12 months, while 90% opted for floating or short-term fixed rates (6-12 months). This borrowing behaviour will be worth monitoring as banks potentially lower key rates a little further in the coming months.

    Download and subscribe to the monthly CoreLogic Housing Chart Pack at corelogic.co.nz/news-research/reports/housing-chart-pack.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: India-Latin America & Caribbean (LAC) partnership holds immense potential for economic and trade expansion: Shri PiyushGoyal

    Source: Government of India (2)

    Posted On: 19 MAR 2025 10:16PM by PIB Delhi

    Union Minister of Commerce & Industry, Shri Piyush Goyal highlighted thatthere remains significant untapped potential for economic and trade expansion.Shri Goyal, addressed the 10th CII India-LAC Conclave today at New Delhi, emphasizing the growing importance of India’s economic engagement with the Latin American and Caribbean (LAC) region.

    He said, the India-LAC partnership is not just about business but also about cultural exchanges, shared traditions, and a collective commitment to preserving heritage. He noted that the passion for festivals, sporting spirit, and rich histories of both regions provide a strong foundation for enhanced economic collaboration. He underscored that the conclave serves as an excellent platform for fostering enduring economic ties and deeper people-to-people connections between the two regions.

    He called for ambitious targets, aiming to double trade volumes in the next five years by focusing on sectors such as engineering, healthcare, renewable energy, critical minerals, tourism, agriculture, gems and jewelry, and digital services.

    Shri Goyal outlined several key areas for deeper cooperation, including trade expansion through preferential trade agreements with MERCOSUR and bilateral agreements where necessary. He emphasized the need for collaboration in renewable energy, highlighting the LAC region’s vast lithium reserves and proposing joint ventures in lithium processing, battery manufacturing, and electric mobility. He also pointed to India-Brazil cooperation in biofuels and the potential for ethanol-powered vehicles. Agriculture and food security were also identified as crucial areas of partnership, with India and the LAC region complementing each other’s needs through investments in climate-resilient agriculture, post-harvest storage, cold chain logistics, and value-added food processing. Additionally, Shri Goyal stressed the importance of improving trade infrastructure through enhanced shipping routes, direct air connectivity, and digitalizing customs procedures to streamline market access. He called for expanding sectoral engagement beyond traditional industries, urging collaboration in pharmaceuticals, artificial intelligence, digital public infrastructure, and high-end manufacturing.

    Shri Goyal acknowledged the global economic slowdown and supply chain disruptions but emphasized that India remains committed to strengthening economic ties with the LAC region. He urged governments, businesses, and institutions to seize emerging opportunities and move beyond incremental progress toward transformative growth.

    In conclusion, Shri Goyal reaffirmed India’s commitment to fostering a dynamic and mutually beneficial partnership with the LAC region, built on trust, cooperation, and shared prosperity.

    ***

    Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas

    (Release ID: 2113110) Visitor Counter : 40

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HKETO holds spring reception in Tokyo to celebrate arrival of spring and flower blossom season (with photos)

    Source: Hong Kong Government special administrative region

    HKETO holds spring reception in Tokyo to celebrate arrival of spring and flower blossom season  
    Speaking to guests from various sectors including Japanese political and business circles, academia, media and community groups, the Principal Hong Kong Economic and Trade Representative (Tokyo), Miss Winsome Au, said that Hong Kong and Japan have strengthened economic and trade relations, flourished through collaborations on different fronts, and made shared achievements together in the past year.
     
    She noted that Hong Kong was the fifth-largest inbound tourist source market for Japan, reaching more than 2.68 million tourists for 2024, and remained the second-largest export market for Japanese agricultural, forestry and fishery products in the year.
     
    “With direct connections to 15 airports in Japan, and soon 18, we are confident that our people-to-people exchanges will continue to grow,” Miss Au added.
     
    On the business front, she noted that over 1 430 Japanese companies operate in Hong Kong, making them the largest group from overseas. Notably, Invest Hong Kong has attracted over 500 enterprises outside Hong Kong to set up in the city in 2024, with more renowned Japanese brands expanding their presence.
     
    She also updated the guests of the latest developments of Hong Kong, and shared with them the Hong Kong Special Administrative Region Government’s measures to fast-track Hong Kong’s economy through reform and innovation in the 2025-26 Budget and the 2024 Policy Address.
     
    The spring reception was organised by the Hong Kong Economic and Trade Office (Tokyo), and supported by Invest Hong Kong, the Hong Kong Trade Development Council and the Hong Kong Tourism Board.
    Issued at HKT 23:09

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Customs detects three dangerous drugs cases at airport with seizure worth about $58.4 million (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs detects three dangerous drugs cases at airport with seizure worth about $58.4 million  
    In the first case, through risk assessment, Customs on March 17 inspected an air cargo consignment, declared as graphite furnace machine and arriving in Hong Kong from the Netherlands at the airport. Upon inspection, Customs officers found about 25kg of suspected ketamine, with an estimated market value of about $11.8 million, concealed in the consignment. 
     
    After a follow-up investigation, Customs officers conducted a controlled delivery operation yesterday in Tsim Sha Tsui and arrested a male consignee, aged 20. Customs officers later escorted the arrested person to an industrial building unit in Kwai Chung for a search and further seized about 760g of suspected heroin and a batch of drug packaging paraphernalia.
     
    An investigation is ongoing.
     
    In the second case, through risk assessment, Customs yesterday inspected 48 cargoes arriving in Hong Kong from Thailand at the airport. About 152kg of suspected cannabis budswith an estimated market value of about $39 million were found concealed inside. 
     
    After a follow-up investigation, Customs discovered that an overseas company had commissioned a local freight forwarding company to collect the batch of goods and arranged  transshipment of the goods to the UK via air channel. Customs has contacted the overseas law enforcement agencies concerned to conduct follow-up investigations.
     
    In the third case, a 33-year-old female passenger arrived in Hong Kong from Amsterdam, the Netherlands, via Istanbul, Türkiye, yesterday. During customs clearance, Customs officers found about 15kg of suspected ketamine with an estimated market value of about $7.1 million inside her check-in suitcase. The woman was subsequently arrested. She has been charged with one count of trafficking in a dangerous drug. The case will be brought up at the West Kowloon Magistrates’ Courts tomorrow (March 20).
         
    Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people, nor to release their personal data or home address to others for receiving parcels or goods.
     
    Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
     
    Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

    Customs also reminds that cannabis and tetrahydro-cannabinol (THC) are classified as dangerous drugs under the Ordinance. Importation of products (including food or drinks) containing cannabis or THC into Hong Kong is prohibited unless the relevant provisions in the Ordinance are complied with. In order to avoid breaching the law inadvertently, special attention should be paid to the packaging labels of food and drinks.
     
    Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hkIssued at HKT 23:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: APEDA showcases India’s Agricultural offerings, Processed Foods and alcoholic beverage products at the IFE London 2025

    Source: Government of India (2)

    Posted On: 19 MAR 2025 7:11PM by PIB Delhi

    The Agricultural and Processed Food Products Export Development Authority (APEDA)   commenced participation, showcasing India’s Agricultural offerings, Processed Foods and Alcoholic Beverage Products at the International Food & Drink Event (IFE) London, 2025 on 18 March 2025. A delegation of 16 leading Indian exporters from Gujarat, Punjab, Telangana, Haryana, Maharashtra, Bihar, Himachal Pradesh and Tamil Nadu amongst other states represented by 27 participants are showcasing a wide array of premium  products at the India Pavilion, providing a platform for business opportunities to the UK market.

    India’s pavilion features a diverse selection of homegrown value-added products, including a variety of agricultural produce, processed foods and beverages.

    The Deputy High Commissioner of India in the UK, Mr. Sujit Ghosh and First Secretary (Trade, Tourism and OCI), Mr. Rakesh Dahiya along with officials from APEDA inaugurated the India Pavilion, today. APEDA’s presence at the IFE London 2025 underlines India’s commitment to promoting its agricultural offerings on the global stage.

    Notable highlights of the exhibition include fresh fruits like Mangoes, Pomegranates and Guavas, a premium range of Processed Foods as well as a fine collection of Indian Liquor such as Rampur, Sula, Godawan, Old Monk Coffee Rum, Jamun Gin and Jaisalmer amongst others. Visitors can explore an extensive showcase of offerings such as Basmati rice, Honey, Namkeen, Peanut Butter, Makhana, Sauces, Millets, Soya Chaap, Baby Corn, Masala Soda, dried Petha, Ready-to-Cook (RTC) dishes like Rajma Rice, Samosas, Dal Rice, Sarson Ka Saag, Chana Rice and Coconuts.

    A special emphasis is placed on promoting Organic products, Millets and Indian fruits like mangoes and pomegranates. Sampling sessions are being organized, giving attendees the opportunity to experience authentic Indian flavours with offerings like vegetarian and non-vegetarian Basmati Rice Biryani and Millet Khichdi. As part of its strategic efforts to further enhance the global footprint of Indian agricultural exports, India’s participation in IFE London 2025 serves as a platform for Indian exporters to connect with potential buyers, explore new business collaborations and promote the diverse offerings of India’s agricultural and processed food sectors globally.

    The Agricultural and Processed Food Products Export Development Authority (APEDA) is a Statutory body under the Ministry of Commerce & Industry, Government of India. APEDA’s mission is to develop, facilitate and promote the exports of agricultural and processed food products from India and to enhance the nation’s footprint in the global food and beverage industry.

    ***

     

    Abhishek Dayal/ Abhijith Narayanan

    (Release ID: 2112981) Visitor Counter : 59

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CCI invites comments from public in respect of proposed combination between Bharat Forge Limited and AAM India Manufacturing Corporation Private Limited

    Source: Government of India

    Posted On: 19 MAR 2025 6:42PM by PIB Delhi

    The Competition Commission of India has invited comments from public in respect of proposed combination between Bharat Forge Limited and AAM India Manufacturing Corporation Private Limited.

    On 23rd October, 2024, the Competition Commission of India (Commission) received a notice given by the Bharat forge Limited (BFL) under sub-section (2) of Section 6 of the Competition Act 2002 for the proposed acquisition of one hundred per cent (100%) shareholding of AAM India Manufacturing Corporation Private Limited (AAMCPL) and full and sole control over the Target [including e-axle assembly lines that the Target will acquire from AAM Auto Component (India) Private Limited (AAM Auto)] by BFL (Proposed Combination)  [Collectively, BFL and AAMCPL are referred to as ‘Parties’].

    BFL is a global provider of safety and critical forged components and solutions to various sectors including automotive, railways, defence, construction, mining, aerospace, marine, and oil & gas. Certain promoters of BFL, through BF Investments Ltd., have 48.99% and 35.52% equity shareholding in Meritor HVS (India) Limited (MHVSIL) and Automotive Axles Limited (AAL) (collectively referred to as ‘Affiliate JVs’), two joint ventures with Meritor Heavy Vehicle Systems, LLC (acquired by Cummins Inc. in 2022), in India. AAMCPL is a company incorporated in India and is primarily engaged in the business of manufacture and sale of axles for commercial vehicles (CVs) in India. Affiliate JVs are also engaged in the manufacture and sale of axles for CVs in India.

    The Commission is of the prima facie opinion that the proposed combination is likely to have an appreciable adverse effect on competition and, accordingly, has directed the Parties, in terms of Section 29(2) of the Competition Act, 2002, to publish details of the combination for bringing the combination to the knowledge or information of the public and persons affected or likely to be affected by such combination.

    The Parties have already published the details of the proposed combination in all India editions of four newspapers viz., Mint, The Financial Express, Hindustan Times and The Indian Express on 19th March 2025 and the same is also hosted on the website of the Parties. The said details are also available on the website of the Commission (www.cci.gov.in).

    As per the provisions of Section 29(3) of the Act, the Commission invites comments/objections/ suggestions in writing, from any person(s) adversely affected or likely to be affected by the proposed combination.  The same may be addressed to the Secretary, Competition Commission of India, Competition Commission of India, 9th Floor, Office Block – 1, Kidwai Nagar (East)
    New Delhi: 110023, India or through email: secy@cci.gov.in, within ten days from the date of publication of details of the proposed combination.

    The Commission is not likely to consider unsubstantiated objections.

    ***

    NB/AD

    (Release ID: 2112965) Visitor Counter : 47

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Bharat Pavilion Makes Historic Debut at Hong Kong FILMART

    Source: Government of India

    Bharat Pavilion Makes Historic Debut at Hong Kong FILMART

    Consul General of India, Hong Kong Inaugurates First-ever Bharat Pavilion at Hong Kong (FILMART)

    “Pavilion represents new era of global partnerships for Indian cinema”: Consul General of India, H.E. Ms. Satwant Khanalia

    Posted On: 19 MAR 2025 6:10PM by PIB Mumbai

    Mumbai, 19th March 2025

    In a landmark moment for Indian cinema on the global stage, the first-ever Bharat Pavilion made its debut at the prestigious Hong Kong International Film & TV Market (FILMART). Consul General of India, Hong Kong & Macau, H.E. Ms. Satwant Khanalia, inaugurated the pavilion, marking a significant step in strengthening India’s presence in the international film and media industry.

    Organised by the Services Export Promotion Council (SEPC), Ministry of Commerce and Industry, and the National Film Development Corporation (NFDC) under the aegis of the Ministry of Information and Broadcasting, the Bharat Pavilion is supported by the Consulate General of India, Hong Kong & Macau. This initiative highlights the growing influence of Indian cinema and its expanding global footprint, promoting international collaborations and showcasing the immense potential of India’s storytelling prowess.

    At the inauguration, H.E. Ms. Satwant Khanalia expressed her pride in India’s dynamic cinematic landscape. “It is an honor to launch the first-ever India Pavilion at FILMART. India’s film industry is one of the largest in the world, and its stories resonate with audiences across cultures. This pavilion represents a new era of global partnerships and opportunities for Indian cinema,” she said.

    Promoting WAVES: India’s Premier Global M&E Summit

    A key focus of the Bharat Pavilion is to promote the World Audio Visual and Entertainment Summit (WAVES), scheduled to take place in Mumbai from 1st to 4th May 2025. WAVES is poised to be a premier platform aimed at bringing the global Media & Entertainment (M&E) industry’s attention to India, fostering trade, innovation, and cross-border collaborations. With a diverse array of industry leaders, innovators, and stakeholders expected to participate, WAVES aims to position India as the Content Hub of the World.

    Driving Collaborations and Expanding Opportunities

    On its first day, the Bharat Pavilion at FILMART buzzed with activity, hosting dialogues, meetings, and networking sessions with international industry representatives. The pavilion facilitated discussions on co-productions, content distribution, and collaborations, opening doors for Indian filmmakers and content creators to explore new markets and expand their global reach.

    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!).

     

    PIB TEAM WAVES 2025 | Dhanlakshmi/ Preeti Malandkar | 072

     

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  • MIL-OSI Asia-Pac: Meeting of the Parliamentary Consultative Committee on Manufacturing of Heavy Electrical Equipment & Encouragement of Electric Vehicles

    Source: Government of India

    Posted On: 19 MAR 2025 6:29PM by PIB Delhi

    Union Minister for Heavy Industries and Steel, Shri H.D. Kumaraswamy, chaired the meeting of the Parliamentary Consultative Committee of Ministry of Heavy Industries on 19.03.2025. The meeting was attended by Union Minister of State for Heavy Industries & Steel, Shri Bhupathiraju Srinivasa Varma, Members of the Committee, Shri Kamran Rizvi, Secretary, MHI along with Dr. Hanif Qureshi, Additional Secretary, Shri Vijay Mittal, Joint Secretary, MHI, Shri S.J. Sinha, Advisor, NITI Aayog, other senior officials from the ministry.

    During the meeting, presentations and discussions were held on ” Manufacturing of Heavy Electrical Equipment” and “Encouragement of Electric Vehicles.” The discussions focused on strategies to accelerate EV adoption, enhance the manufacturing ecosystem, and strengthen the domestic production of heavy electrical equipment to support the growing demand for sustainable transportation and infrastructure.

    Addressing the meeting Union Minister for Heavy Industries and Steel, Shri H.D. Kumaraswamy said “Under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi, India is making transformative strides in Amrit Kaal, aiming to become a global industrial powerhouse. The “Viksit Bharat 2047” vision positions India as a leading manufacturing and export hub, fostering economic resilience, technological leadership, and industrial self-reliance. Manufacturing contributes 17% to GDP, playing a key role in economic growth, with engineering, capital goods, automotive, and renewables among the high-impact sectors.”

    Shri H.D. Kumaraswamy said The Ministry of Heavy Industries is working with the vision statement: “To have a globally competitive, green, and technology-driven heavy industry manufacturing sector, including automotive and capital goods sectors, which propels growth and job creation.” Schemes such as Enhancement of Competitiveness in the Indian Capital Goods Sector (Phase I & II), FAME, PLI for Automotive & Advanced Chemistry Cell, and PM E-DRIVE have been launched with the goal of building a strong domestic manufacturing ecosystem.

    During the meeting Union Ministers of State for Heavy Industries & Steel, Shri Bhupathiraju Srinivasa Varma said “A globally competitive manufacturing sector is India’s greatest potential to drive economic growth and job creation. Several key initiatives, such as the National Manufacturing Policy and PLI scheme, have been launched to enhance India’s manufacturing potential.”

    Shri Bhupathiraju Srinivasa Varma said “When it comes to the mobility sector, the Ministry of Heavy Industries has taken deliberate and forward-looking steps to ensure that the transition to electric mobility is seamless, sustainable, and inclusive. A series of progressive initiatives have been instrumental in shaping this transformation, including FAME-II, PM E-DRIVE, PLI schemes for Auto and Advanced Chemistry Cells, the PM e-Bus Sewa-Payment Security Mechanism, and the Scheme to Promote Manufacturing of Electric Passenger Cars in India. Each of these initiatives plays a crucial role in boosting local manufacturing, strengthening charging infrastructure, supporting public transport electrification, and fostering innovation in the EV sector.”

    The participants were briefed about-

    Manufacturing of Heavy Electrical Equipment:

    The Ministry of Heavy Industries continues to play a vital role in strengthening India’s manufacturing ecosystem, particularly in the Heavy Electrical Equipment sector. Bharat Heavy Electricals Limited (BHEL), a key entity under MHI, has been at the forefront of this development, contributing significantly to indigenization and self-reliance in the sector.

    Key Highlights:

    • The Indian manufacturing sector accounts for 17% of GDP and employs over 27.3 million workers as of FY24.
    • Government initiatives such as “Make in India” and the PLI Scheme have catalysed growth in the sector.
    • BHEL has developed a comprehensive portfolio of products, including power generation and transmission equipment, along with industrial solutions.
    • The company has been actively contributing to the renewable energy sector, particularly in solar and wind energy, in alignment with India’s clean energy goals.

    Encouragement of Electric Vehicles:

    The Indian automotive industry plays a pivotal role in the nation’s economy, contributing 6.8% of GDP and generating approximately 30 million jobs. The government’s sustained efforts to promote electric mobility have led to remarkable progress, with over 19 lakh EVs registered in 2024, marking a significant increase from 15 lakh in 2023. India’s proactive initiatives are not only accelerating the adoption of EVs domestically but also positioning the country as a key player in the global EV market.

    Key Government Initiatives:

    • Faster Adoption and Manufacturing of Electric Vehicles (FAME) Scheme: Over 7,400 electric buses have been sanctioned under the FAME initiative, significantly enhancing sustainable urban mobility.
    • Production-Linked Incentive (PLI) Scheme: With a total outlay of ₹25,938 crore over five years, the PLI scheme is driving India’s manufacturing competitiveness in the automobile and auto-component sector.
    • Scheme to Promote Manufacturing of Electric Passenger Cars in India (SMEC): This initiative aims to attract investments from leading global EV manufacturers and establish India as a manufacturing hub for electric vehicles.
    • PM E-DRIVE Scheme: With an allocation of ₹10,900 crore, this scheme promotes EV adoption while reducing greenhouse gas emissions, reinforcing India’s commitment to sustainable mobility.

    The meeting appreciated the government’s commitment to accelerate the transition to clean energy, fostering a robust domestic manufacturing ecosystem, as well as positioning India as a global leader in EVs and heavy electrical equipment. The Ministry of Heavy Industries remains dedicated to implementing policies that drive innovation, sustainability, and economic growth.

    *****

    TPJ/NJ

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  • MIL-OSI Asia-Pac: Moong Dal available under Bharat Dal brand for consumers at subsidized price

    Source: Government of India (2)

    Posted On: 19 MAR 2025 5:53PM by PIB Delhi

    To make dals available to consumers at affordable prices, Bharat Dal was launched in July, 2023 by converting Chana stock in the PSF into Chana dal for retail disposal. The Bharat Chana Dal was made available to consumers at subsidized rates of Rs.60 per kg for 1 kg pack and Rs.55 per kg for 30 kg pack. 12.32 lakh MT of Bharat Chana Dal has been sold to retail consumers in Phase- I of Bharat Chana Dal. Distribution of bharat chana dal was made through 25023 Stationary outlets and mobile vans in 1732 cities across the country by Bharat dal implementing agencies.

    Further, additional quantity of 3 LMT has been allocated for retail distribution under Bharat (Chana) dal phase-II. The allocated Chana stock being sold in Dal form and Whole form in 1 kg pack at MRP of Rs. 70/kg for Chana Dal and Rs.58/kg for Chana Whole. A quantity of 1.18 LMT chana dal and 13,495 MT of Chana whole have been sold till 12-03-2025. Under phase-II of Bharat dal, the distribution of bharat dals are ensured through 3051 stationary outlets, 8939 mobile vans across 26 States/UTs and 9 major e-commerce platforms.

    The Bharat Dal has been extended to include Bharat Moong Dal by converting Moong stock in the PSF buffer into Moong Dal for retail sale to consumers at subsidized prices. Further, the Bharat Dal has also been extended to include Masur Dal by converting Masur stock in the PSF buffer into Masur Dal for retail sale to the consumers at price of Rs.89 per kg.

    Assessment of Bharat Chana Dal phase-I has been undertaken by Quality Council of India. To ensure maximum traceability in the distribution of Bharat Dal, agencies are regularly directed to maintain real time distribution photos of bharat dal and share the sale progress with the department on daily basis. Regular meetings with NCCF, NAFED, and Kendriya Bhandar are conducted to monitor stock movement, sales progress, and address operational challenges.

    Bharat Brand dals under Phase –II are distributed by three central cooperative organizations such National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED), Kendriya Bhandar, and National Cooperative Consumers’ Federation of India Limited (NCCF) through their Own Outlets, Mobile vans, e-commerce platforms and big Chain Retailers.

    This information was given by the Union Minister of State for the Ministry of Consumer Affairs, Food

    and Public Distribution, Shri B.L. Verma in a written reply today in the Lok Sabha.

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  • MIL-OSI Asia-Pac: Two Days National Seminar cum Exhibition on Organic Farming

    Source: Government of India

    Two Days National Seminar cum Exhibition on Organic Farming

    Safe Food for Healthy Life

    Posted On: 19 MAR 2025 4:29PM by PIB Delhi

    A “Two Days National Seminar cum Exhibition on Organic Farming” was organized by the National Centre for Organic & Natural Farming (NCONF), Ghaziabad, on 18-19 March 2025 at Ghaziabad. The program and exhibition were inaugurated by the Chief Guest, Sh. K.M.S. Khalsa, Director (Finance) – Ministry of Agriculture & Farmers Welfare, Government of India, along with Dr. Gagnesh Sharma, Director, NCONF, and Dr. A.K. Yadav, Advisor, Ministry of Agriculture & Farmers Welfare, in the presence of Dr. Bharat Bhushan Tyagi, Padmashree, Sh. Gopal Bhai Sutariya from Bansi Gir Gaushala, Ahmedabad and officers from NCONF and RCONFs.

    The Chief Guest, Sh. K.M.S. Khalsa, in his deliberation, emphasized the significance of organic farming and its growing importance in today’s world. He assured support for the promotion and implementation of proposals related to Organic and Natural Farming will be considered on priority. On this instance “Manual of Organic Farming” and “Souvenir” were released.

    Dr. Gagnesh Sharma, Director of NCONF, delivered the keynote address. He outlined the current status and achievements of NCONF in the domain of Organic and Natural Farming. Dr. Sharma also discussed the importance of certification, organic input quality management, and highlighted the potential opportunities for marketing organic and natural products to help in boosting the income of farmer.

    Dr. A.K. Yadav shared insights on the status of organic farming in India and motivated farmers and stakeholders to participate in the production and processing of organic produce for both domestic and international markets. He stated, it would be helpful to strengthen farmers as well as nation’s economy.

    Padmashree Dr. Bharat Bhushan Tyagi spoke about the promotion of organic farming at the village as a cluster based approach. He emphasized moving beyond a cluster-based approach to improve the adaptability of organic farming and bring more land under organic certification.

    Sh. Gopal Bhai Sutariya focused on the importance of cow-based natural farming and its potential. He introduced the “Gaukripa Krishi” model, explaining how farmers can adopt natural and organic farming practices. He assured that this model would be available to all stakeholders free of cost.

    The two-day conference featured four sessions altogether eighteen deliberations covering key objectives related to organic farming. These sessions brought together policymakers, researchers, academia, progressive farmers, innovators, entrepreneurs, industries, and other stakeholders. They shared knowledge and experiences on enhancing the role of Farmers’ Producer Organizations (FPOs) and processor groups in sustainable agri-food systems. Discussions also included the use of innovative farmer-friendly technologies, certification, processing, and marketing of organic produce. On this occasion champion farmers across the country were felicitated. On this occasion 23 exhibitors across the country showcased their achievements and activities towards the promotion and creating awareness Organic and Natural Farming.    

    Officers from Regional Centres of Organic & Natural Farming (RCONFs) in Ghaziabad, Nagpur, Bengaluru, Bhubaneswar, and Imphal also participated in the event. More than 200 participants, including champion farmers from across the country, attended the program.

    The session concluded with a vote of thanks, acknowledging the valuable contributions of all speakers and participants.

    The session concluded with a vote of thanks, acknowledging the valuable contributions of all speakers and participants.

    *****

    MG/ KSR

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    Read this release in: Hindi

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  • MIL-OSI Asia-Pac: Several steps taken to enhance implementation of NMDFC schemes across the nation

    Source: Government of India (2)

    Posted On: 19 MAR 2025 5:05PM by PIB Delhi

    The disbursement target of National Minorities Development and Finance Corporation (NMDFC) for the financial year 2024-25 is Rs. 850.00 crore and NMDFC has disbursed Rs. 752.23 crore to over 1,74,148 beneficiaries till 10th March 2025.

    NMDFC has delegated the authority to its State Channelizing Agencies (SCAs) to sanction, disburse & recover loan from beneficiaries. The beneficiaries are selected as per following eligibility criteria for release of concessional credit:

    1. Person should belong to notified National Minority viz., Buddhists, Christians, Jains, Muslims, Parsis and Sikhs as per National Commission for Minorities Act, 1992.
    2. Person having annual family income of upto Rs. 3.00 lakhs under Credit Line 1 and upto Rs. 8.00 lakhs under Credit Line 2.

    The applicants are required to submit the necessary documents for meeting the above eligibility criteria. To ensure that credit support reaches genuine and deserving minority beneficiaries, the SCAs have adopted a multi-level screening mechanism for document verification, background checks & site inspections before sanction of loan. Further, the sanctioned amount is released through Direct Benefit Transfer (DBT) into the KYC authenticated beneficiary account.

    In order to enhance the implementation of NMDFC schemes across the nation, following steps have been taken by NMDFC:

    1. Enhancing the annual family income limit under Credit Line 1 from Rs. 98,000/- in  rural areas & Rs. 1,20,000/- in urban areas to Rs. 3.00 lakh per annum in both rural & urban areas.
    2. Introduction of new Annual Family Income eligibility criterion of up to Rs.8.00 lakh per annum for greater coverage of persons from the targeted minority communities.
    3. Quantum of loan under Term Loan scheme increased from Rs.10.00 lakh to Rs.30.00 lakh while under Micro Finance scheme, it has been increased from Rs.50,000/- to Rs.1.50 lakh per Self Help Group member.  Under Education Loan scheme, the quantum of loan has been increased from Rs.5.00 lakh to Rs.20.00 lakh for domestic courses & from Rs.10.00 lakh to Rs.30.00 lakh for courses abroad.
    4. Introduction of Virasat Scheme to meet the credit requirement of Artisans belonging to target group.
    5. Self-Declaration/Self Certification/Self Attestation of documents is introduced in case of Religion Certificate, Family Income, Residence Proof, Mark Sheet, etc.
    6. Transfer of loan directly in Bank Account of Beneficiary through NEFT/RTGS.
    7. Insurance of beneficiary and their assets to safeguard against any untoward incident.
    8. Signing of MoU with Canara Bank, Union Bank of India, Indian Bank & Punjab Gramin Bank to increase the outreach of NMDFC schemes in the States/UTs where SCAs are non-functional.
    9. NMDFC has also developed MILAN Software to streamline and digitize the loan and accounting processes between applicants, State Channelizing Agencies (SCAs) and NMDFC.

    This information was given by the Union Minister of Minority Affairs & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Lok Sabha today.

    ***

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  • MIL-OSI Asia-Pac: Cabinet approves Revised National Program for Dairy Development (NPDD)

    Source: Government of India

    Posted On: 19 MAR 2025 4:24PM by PIB Delhi

    The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has today approved the Revised National Program for Dairy Development (NPDD).

    The Revised NPDD, a Central Sector Scheme, has been enhanced with an additional Rs.1000 crore, bringing the total budget to Rs.2790 crore for the period of the 15th Finance Commission cycle (2021-22 to 2025-26). This initiative focuses on modernizing and expanding dairy infrastructure, ensuring the sector’s sustained growth and productivity.

    The revised NPDD will give an impetus to the dairy sector by creating infrastructure for milk procurement, processing capacity, and ensuring better quality control. It is intended to help farmers gain better access to markets, to ensuring better pricing through value addition, and improve the efficiency of the supply chain, leading to higher incomes and greater rural development.

    The scheme consists of two key components:

    1.    Component A is dedicated to improving essential dairy infrastructure, such as milk chilling plants, advanced milk testing laboratories, and certification systems. It also supports the formation of new village dairy cooperative societies and strengthens milk procurement and processing in the North Eastern Region (NER), hilly regions, and Union Territories (UTs), especially in remote and backward areas, as well as the formation of 2 Milk Producer Companies (MPCs) with dedicated grant support

    2.    Component B, known as “Dairying through Cooperatives (DTC)”, will continue to foster dairy development through cooperation with the Government of Japan and Japan International Cooperation Agency (JICA) as per agreements signed. This component focuses on the sustainable development of dairy cooperatives, improving production, processing, and marketing infrastructure in the nine States (Andhra Pradesh, Bihar, Madhya Pradesh, Punjab, Rajasthan, Telangana, Uttarakhand, Uttar Pradesh, and West Bengal).

    The implementation of NPDD started has made huge socio-economic impact already benefiting over 18.74 lakh farmers and has created over 30,000 direct and indirect jobs and increase milk procurement capacity by an additional 100.95 lakh liters per day. The NPDD has also supported in promoting cutting-edge technology for better milk testing and quality control. Over 51,777 village-level milk testing laboratories have been strengthened, while 5,123 bulk milk coolers with a combined capacity of 123.33 lakh liters have been installed. In addition, 169 labs have been upgraded with Fourier Transform Infrared (FTIR) milk analysers, and 232 dairy plants now have advanced systems for detecting adulteration.

    The Revised NPDD is expected to establish 10,000 new Dairy Cooperative Societies, processing in the North Eastern Region (NER), as well as the formation of 2 Milk Producer Companies (MPCs) with dedicated grant support in addition to the ongoing projects of NPDD, to   generate an additional 3.2 lakh direct and indirect employment opportunities, particularly benefiting women, which constitute 70% of the dairy workforce.

    The Revised National Programme for Dairy Development will transform India’s modern infrastructure, in sync with White Revolution 2.0 and will further support the newly formed cooperatives by providing new technology, and quality testing labs. This program will help improve rural livelihoods, generate jobs, and build a stronger, more resilient dairy industry that benefits millions of farmers and stakeholders across the country.

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  • MIL-OSI Asia-Pac: GOVERNMENT STRIVING TO IMPROVE SOCIO-ECONIMIC STATUS OF ALL COMMUNITIES INCLUDING MINORITY COMMUNITIES

    Source: Government of India

    Posted On: 19 MAR 2025 4:15PM by PIB Delhi

    The Government of India has been striving to improve the socio-economic status of all communities, including minority communities, through various schemes and incentives through a saturation model, thereby ensuring that socio-economic status of all communities at par with the national mainstream. The Ministry of Minority Affairs specifically implements various schemes across the country for socio-economic and educational empowerment of the six (6) centrally notified minority communities. These schemes are meant for the weaker segments of minority. The schemes/programmes implemented by Minority Affairs for the welfare of minority communities are as under:

    1.  Educational Empowerment Schemes

    (i) Pre-Matric, (ii) Post-Matric and (iii) Merit-cum-Means based scholarships

    2.  Employment and Economic Empowerment Schemes

         (i) Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS)

         (ii) Equity to National Minorities Development and Finance Corporation (NMDFC) for

               providing concessional loans to minorities.

    3. Infrastructural Development Scheme

      (i) Pradhan Mantri Jan Vikas Karyakaram (PMJVK)

    All the schemes together have contributed in the acquisition of high-level skills, greater opportunities in livelihood, high employability potential, improved access to better infrastructure, improved health and in the overall welfare of the Minority Communities.

    This information was given by the Union Minister of Minority Affairs & Parliamentary Affairs, Shri Kiren Rijiju in a written reply in the Lok Sabha today.

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  • MIL-OSI USA: DR-4861-WV NR-012 A Second Disaster Recovery Center in McDowell County WV Opening Thursday; Over $10 Million in FEMA Assistance Has Been Approved

    Source: US Federal Emergency Management Agency

    Headline: DR-4861-WV NR-012 A Second Disaster Recovery Center in McDowell County WV Opening Thursday; Over $10 Million in FEMA Assistance Has Been Approved

    DR-4861-WV NR-012 A Second Disaster Recovery Center in McDowell County WV Opening Thursday; Over $10 Million in FEMA Assistance Has Been Approved

    News releaseA Second Disaster Recovery Center in McDowell County, W

    Va

    Opening Thursday March 20; Over $10 Million in FEMA Assistance Has Been ApprovedCHARLESTON, W

    Va

    – A second Disaster Recovery Center (DRC) will be opening in McDowell County at the Board of Education Building at 8:00 a

    m

    on Thursday March 20, 2025

     The opening of this additional DRC coincides with the $10 million milestone in approved FEMA assistance

    FEMA encourages all residents of the impacted counties to register for assistance, including homeowners and renters

    The center is located at: McDowell County (Welch) Disaster Recovery CenterBoard of Education Building900 Mount View High School RoadWelch, WV 24801 Hours of operation:Monday through Friday: 8 a

    m

    to 6 p

    m

     Saturday March 22: 9 a

    m

    to 1 p

    m

    , weather dependentSaturday, March 29: 9 a

    m

    to 1 p

    m

    , weather dependent Closed on Sundays The DRCs located in the table below remain open

    DRCs are open to all, including survivors with mobility issues, impaired vision, and those who are who are Deaf or Hard of Hearing

    Residents of the designated counties can visit any open DRC for assistance

     Mercer County Disaster Recovery CenterMcDowell County Disaster (Bradshaw) Recovery Center Lifeline Princeton Church of God250 Oakvale Road Princeton, WV 24740 Hours of operation:Monday to Friday: 9 a

    m

    – 5 p

    m

    Saturdays: 10 a

    m

    – 2 p

    m

    Closed Sundays Closed March 12, March 22, April 19Bradshaw Town Hall10002 Marshall HwyBradshaw, WV 24817 Hours of operation:Monday to Saturday: 8 a

    m

    to 6 p

    m

    Closed SundaysMingo County Disaster Recovery CenterWyoming County Disaster Recovery CenterWilliamson Campus1601 Armory DriveWilliamson, WV 25661 Hours of operation:Monday through Friday, 8 a

    m

    to 6 p

    m

    Saturdays: 9 a

    m

    to 3 p

    m

    Closed on SundaysWyoming Court House24 Main AvePineville, WV 24874 Hours of operation:Monday through Friday: 8 a

    m

    to 6 p

    m

     Saturdays: 9 a

    m

    to 3 p

    m

    Closed on Sundays Residents in Logan, McDowell, Mercer, Mingo, Wayne, and Wyoming counties who were impacted by the winter flooding between February 15 – 18, 2025 can visit a DRC to apply for assistance, ask questions about their application, speak with representatives from other agencies, including the Small Business Administration, submit receipts for eligible cleanup and repair costs, and more

    Renters may also have eligible costs and should apply for FEMA assistance

    FEMA and SBA staff survey damages in the impacted areas of WV following the February 15-18, 2025 winter flooding

    (FEMA)As a reminder, FEMA disaster assistance comes in the form of grants, which do not need to be repaid, accepting FEMA funds will not affect eligibility for Social Security – including Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) – Medicare, Medicaid, Supplemental Nutrition Assistance Program (SNAP) benefits, or other federal benefit programs

    FEMA assistance does not need to be repaid

    Residents should file insurance claims as soon as possible, in addition to submitting an application for FEMA assistance

    By law, FEMA cannot cover expenses that have already been covered by other sources like insurance, crowdfunding, local or state programs, donations, or financial assistance from voluntary agencies

     FEMA remains dedicated to assisting the residents of West Virginia and encourages everyone in Logan, McDowell, Mercer, Mingo, Wayne, and Wyoming counties who were impacted by the winter flooding between February 15 – 18, 2025 to connect with FEMA to identify next steps in your recovery

    For more information on West Virginia’s disaster recovery, visit emd

    wv

    gov, West Virginia Emergency Management Division Facebook page, www

    fema

    gov/disaster/4861, and www

    facebook

    com/FEMA

      ### FEMA’s mission is helping people before, during and after disasters

    Follow FEMA online, on X @FEMA or @FEMAEspanol, on FEMA’s Facebook page or Espanol page and at FEMA’s YouTube account

    Also, follow on X FEMA_Cam

     For preparedness information follow the Ready Campaign on X at @Ready

    gov, on Instagram @Ready

    gov or on the Ready Facebook page

      
    kimberly

    fuller
    Wed, 03/19/2025 – 17:24

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Recovery Center Opens in Simpson County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opens in Simpson County

    Disaster Recovery Center Opens in Simpson County

    FRANKFORT, Ky

    –A Disaster Recovery Center will open tomorrow, March 20, in Simpson County

    Disaster Recovery Centers, operated by the Kentucky Division of Emergency Management and FEMA, offer in-person support to survivors in declared counties as the result of severe storms, straight-line winds, flooding, landslides and mudslides from February

      FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    The deadline to apply for federal assistance is April 25

    Address: Simpson County Courthouse, 100 Courthouse Square, Franklin KY 42134Hours: 7 a

    m

    to 7 p

    m

    CDT Monday through Saturday and 1 to 7 p

    m

    CDT on SundaysMore Disaster Recovery Centers will continue to open in the counties eligible for disaster assistance

     In addition to FEMA personnel, representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will be available at the recovery centers to assist survivors

    If you are unable to visit the center, there are other ways to apply: online at DisasterAssistance

    gov, use the FEMA mobile app or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For an accessible video on how to apply for FEMA assistance, go to youtube

    com/watch?v=WZGpWI2RCNw

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Wed, 03/19/2025 – 14:01

    MIL OSI USA News –