Category: Business

MIL-OSI Asia-Pac: SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25, QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2024-25 AND FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

Source: Government of India (2)

SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25, QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2024-25 AND FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

Real GDP Growth Rate of 9.2% for 2023-24 is the highest in the previous 12 years except for 2021-22

Growth Rate of Real GDP for 2024-25 is estimated as 6.5%

Real GDP has observed a Growth Rate of 6.2% in Q3 of FY 2024-25

Posted On: 28 FEB 2025 4:00PM by PIB Delhi

The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing in this Press Note the Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) for Financial Year (FY) 2024-25; Quarterly Estimates of GDP for October-December Quarter (Q3) of FY 2024-25 along with its expenditure components and following Revised Estimates of GDP, National Income, Consumption Expenditure, Saving and Capital Formation:

a. First Revised Estimates (FRE) for the Financial year 2023-24;

b. Second Revised Estimates or Final Estimates (FE) for the Financial year 2022-23.

These estimates are released both at Constant (2011-12) and Current Prices, in accordance with the release calendar of National Accounts. Detailed Notes on: (i) Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) of FY 2024-25, Quarterly Estimates of GDP for October-December Quarter (Q3) of FY 2024-25 and (ii) Abovementioned Revised Estimates for financial years 2023-24 and 2022-23 are given respectively in Part A and Part B of the Press Note.

Key Highlights:

1. Real GDP has been estimated to grow by 6.5% in FY 2024-25. Nominal GDP is expected to witness a growth rate of 9.9% in FY 2024-25. Both the growth rates are revised upward from their respective First Advance Estimates.

2. As per the First Revised Estimates, Real GDP has grown by 9.2% in the financial year 2023-24, which is highest in the previous 12 years except for the financial year 2021-22 (the post-covid year). This growth has been contributed by double-digit growth rates in ‘Manufacturing’ sector (12.3%), ‘Construction’ sector (10.4%) and ‘Financial, Real Estate & Professional Services’ sector (10.3%).

3. As per the Final Estimates, Real GDP has observed a growth rate of 7.6% in the financial year 2022-23, mainly contributed by double-digit growth rates in ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector (12.3%), ‘Financial, Real Estate & Professional Services’ sector (10.8%) and ‘Electricity, Gas, Water Supply & Other Utility Services’ sector (10.8%).

4. Real GDP is estimated to grow by 6.2% in Q3 of FY 2024-25. Growth rate in Nominal GDP for Q3 of FY 2024-25 has been estimated at 9.9%.

5. The growth rate of Real GDP for Q2 of financial year 2024-25 has been revised upward to 5.6%.

6. ‘Construction’ sector is estimated to observe a growth rate of 8.6%, followed by ‘Financial, Real Estate & Professional Services’ sector (7.2%) and ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector (6.4%) during 2024-25.

7. Private Final Consumption Expenditure (PFCE) is expected to register a good growth of 7.6% during 2024-25 as compared to 5.6% growth observed during 2023-24.

PART A

NOTE ON SECOND ADVANCE ESTIMATES OF ANNUAL GROSS DOMESTIC PRODUCT FOR 2024-25

QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCT-DEC) OF 2024-25

The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) is releasing in this Press Note, the Second Advance Estimates (SAE) of Annual Gross Domestic Product (GDP) for the Financial Year (FY) 2024-25 and Quarterly Estimates of GDP for the Third quarter (October-December) of 2024-25 along with its expenditure components both at Constant (2011-12) and Current Prices. Annual, Quarterly as well as April-December estimates of Gross Value Added (GVA) at Basic Prices by kind of economic activity along with year on year percent changes, expenditure components of GDP and annual estimates of Gross/Net National Income and Per Capita Income for the Financial years 2022-23, 2023-24 and 2024-25 at Constant and Current Prices are given in Statements 1A to 12A of Annexure A.

I. Annual Estimates and Growth Rates

Real GDP or GDP at Constant Prices is estimated to attain a level of ₹187.95 lakh crore in the financial year 2024-25, against the First Revised Estimate of GDP for the year 2023-24 of ₹176.51 lakh crore. The growth rate in Real GDP during 2024-25 is estimated at 6.5% as compared to 9.2% in 2023-24. Nominal GDP or GDP at Current Prices is estimated to attain a level of ₹331.03 lakh crore in the year 2024-25, against ₹301.23 lakh crore in 2023-24, showing a growth rate of 9.9%.

Real GVA is estimated at ₹171.80 lakh crore in the year 2024-25, against the FRE for the year 2023-24 of ₹161.51 lakh crore, registering a growth rate of 6.4% as compared to 8.6% growth rate in 2023-24. Nominal GVA is estimated to attain a level of ₹300.15 lakh crore during FY 2024-25, against ₹274.13 lakh crore in 2023-24, showing a growth rate of 9.5%

Fig. 1: Annual GDP and GVA Estimates along with Y-o-Y Growth Rates at Constant Prices

Fig. 2: Sectoral Composition and Growth Rates of Annual GVA

Sectoral Composition of Nominal GVA in FY 2024-25

Fig. 3: Composition and Growth Rates of Annual GVA in Broad Sectors

II. Quarterly Estimates and Growth Rates

Real GDP or GDP at Constant Prices in Q3 of FY 2024-25 is estimated at ₹47.17 lakh crore, against ₹44.44 lakh crore in Q3 of FY 2023-24, showing a growth rate of 6.2%. Nominal GDP or GDP at Current Prices in Q3 of FY 2024-25 is estimated at ₹84.74 lakh crore, against ₹77.10 lakh crore in Q3 of FY 2023-24, showing a growth rate of 9.9%.

Real GVA in Q3 of FY 2024-25 is estimated at ₹43.13 lakh crore, against ₹40.60 lakh crore in Q3 of FY 2023-24, showing a growth rate of 6.2%. Nominal GVA in Q3 of FY 2024-25 is estimated at ₹77.06 lakh crore, against ₹69.90 lakh crore in Q3 of FY 2023-24, showing a growth rate of 10.2%.

Fig. 4: Quarterly GDP and GVA Estimates along with Y-o-Y Growth Rates from Q1 FY 2021-22 to Q3 FY 2024-25 at Constant Prices

Fig. 5: Sectoral Composition and Growth Rates of Quarterly GVA

Sectoral Composition of Nominal GVA in Q3 of FY 2024-25

Fig. 6: Composition and Growth Rates of Quarterly GVA in Broad Sectors

[Primary Sector: Agriculture, Livestock, Forestry & Fishing and Mining & Quarrying

Secondary Sector: Manufacturing, Electricity, Gas, Water supply & Other Utility Services and Construction

Tertiary Sector: Trade, Hotels, Transport, Communication and Services related to Broadcasting, Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services]

III. Methodology and Major Data Sources:

Second Advance Estimates of Annual GDP and Quarterly Estimates GDP are compiled using the Benchmark-indicator method i.e. the estimates available for the previous financial year (2023-24) are extrapolated using the relevant indicators reflecting the performance of sectors. The First Advance Estimates (FAE) of Annual GDP for the financial year 2024-25 were released on 7^th January, 2025, which were based on very limited data and used Provisional Estimates of 2023-24 as Benchmark Estimates. For Compilation of SAE, 2024-25, the Provisional Estimates of 2023-24 used at the time of FAE have been replaced by FRE, 2023-24 which have been compiled using industry-wise/institution-wise detailed information. Thus, overall as well as sectoral variations in SAE from FAE is attributed to revision of benchmark estimates and additional or updated data available on various indicators. The quarterly estimates of previous years along with the First and Second quarter estimates of 2024-25 released earlier have also undergone revision in accordance with the revision policy of National Accounts.

The sector-wise estimates have been compiled using indicators/data sources like (i) Index of Industrial Production (IIP), (ii) Financial performance of Listed Companies based on available quarterly financial results of these companies upto Q3 FY 2024-25, (iii) Estimates of Major Agricultural Crops and Horticultural crops for 2024-25, as provided by Ministry of Agriculture and Farmers’ Welfare (iv) Production Targets and Summer as well as Rainy season production estimates of Major Livestock Products for FY 2024-25; (v) Fish Production, (vi) Production of Coal, Crude Petroleum, Natural Gas, Cement and Consumption of Steel, (vii) Net Tonne Kilometres and Passenger Kilometres for Railways, (viii) Passenger and Cargo traffic handled by Civil Aviation, (ix) Cargo traffic handled at Major and Minor Sea Ports, (x) Sales of Commercial Vehicles, (xi) Bank Deposits and Credits, (xii) Premium related information of Life and Non-Life Insurance companies, (xiii) Data on outward Supplies of Goods and Services available from GSTN upto January, 2025 (xiv) Accounts of Central and State Governments, (xv) Goods and Services Tax collections etc., available for first 9-10 months of the FY 2024-25. Year-on-Year growth rates (%) in the main indicators used in the estimation are given in the Annexure B.

Total tax revenue used for GDP compilation includes non-GST revenue as well as GST revenue. The Revised Estimates of Tax revenue for 2024-25 as available in the Annual Financial Statement of the Central Government, along with latest available information from the websites of Controller General of Accounts (CGA) and Comptroller and Auditor General of India (CAG) have been used for estimating taxes on products at Current Prices. For compiling taxes on products at Constant Prices, volume extrapolation is done using volume growth of taxed goods and services. The total product subsidies at Current prices were compiled using the latest information on major subsidies viz. Food, Urea, Petroleum and Nutrient based subsidy for Centre as available on CGA website and the expenditure incurred on subsidies by most States up to December 2024 as available on CAG website along with the Centre/State-wise RE and BE provision for FY 2024-25. Information available on Revenue expenditure, Interest payments, Subsidies etc. from Centre and States for FY 2024-25 were used for estimating Government Final Consumption Expenditure (GFCE).

Improved data coverage and revision in input data made by source agencies would have a bearing on subsequent revisions of these estimates. Estimates are, therefore, likely to undergo revisions for the aforesaid causes in due course, as per the release calendar. Users should take these into consideration while interpreting the figures. The Provisional Estimates of Annual GDP for FY 2024-25 along with Quarterly GDP estimates for the quarter January-March of FY 2024-25 (Q4 2024-25) will be released on 30.05.2025.

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Annexure A

Annexure B

PART B

NOTE ON FIRST REVISED & FINAL ESTIMATES OF GROSS DOMESTIC PRODUCT, NATIONAL INCOME, CONSUMPTION EXPENDITURE, SAVING AND CAPITAL FORMATION FOR 2023-24 & 2022-23 RESPECTIVELY

In this part of the press note, First Revised Estimates of GDP, National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2023-24 and Second Revised/ Final Estimates for the financial year 2022-23 are given.

2. The First Revised Estimates for the year 2023-24 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31^st May, 2024. The estimates of Gross Domestic Product (GDP) and other aggregates for the year 2022-23 have also undergone revisions on account of use of latest available datasets on agricultural production; industrial production (final results of Annual Survey of Industries: 2022-23); government data as available in budget documents (replacing Revised Estimates with actuals for the year 2022-23); comprehensive data available from various source agencies like Ministry of Corporate Affairs (MCA), Reserve Bank of India (RBI), National Bank for Agriculture and Rural Development (NABARD) etc. and additional data from State/UT Directorates of Economics and Statistics (DES).

3. The salient features of the revised estimates at aggregate level are given in the paras as follows.

Gross Domestic Product

4. Real GDP or GDP at constant (2011-12) prices for the years 2023-24 and 2022-23 stands at ₹176.51 lakh crore and ₹161.65 lakh crore, respectively, showing a growth of 9.2 per cent during 2023-24 as compared to growth of 7.6 per cent during 2022-23.

5. Nominal GDP or GDP at current prices for the year 2023-24 is estimated at ₹301.23 lakh crore, against ₹268.90 lakh crore for the year 2022-23, showing a growth of 12.0 per cent during 2023-24 as compared to growth of 14.0 per cent during 2022-23.

GVA and its Industry-wise Analysis

6. At the aggregate level, nominal Gross Value Added (GVA) at basic prices has increased by 11.2 per cent during 2023-24 compared to growth of 13.9 per cent during 2022-23. Real GVA, i.e., GVA at constant (2011-12) prices, has increased by 8.6 per cent in 2023-24, compared to 7.2 per cent growth in 2022-23.

7. The shares of broad sectors of the economy in overall GVA during 2011-12 to 2023-24 and the annual growth rates during these periods are mentioned below:

#: Final Estimates; @: First Revised Estimates

8. The growth rates of Primary sector (comprising Agriculture, Livestock, Forestry, Fishing and Mining & Quarrying), Secondary sector (comprising Manufacturing, Electricity, Gas, Water Supply & Other Utility Services, and Construction) and Tertiary sector (Services) have been estimated as 2.7 per cent, 11.4 per cent and 9.0 per cent respectively in 2023-24 as against growth rates of 5.9 per cent, 2.4 per cent and 10.3 per cent respectively in the previous years. The growth in real GVA during 2023-24 is on account of growth in ‘Manufacturing’, ‘Electricity, Gas, Water Supply & Other Utility Services’, ‘Construction’, ‘Trade, repair, Hotels and Restaurants’, ‘Financial Services’, ‘Real Estate, Ownership of Dwelling & Professional Services’ and ‘Other services’ as may be seen from Statement 4.2B. However, ‘Agriculture, Livestock, Forestry and Fishing’, ‘Mining and Quarrying’ and ‘Public Administration and Defense’ have witnessed modest growth.

Net National Income

9. Net National Income (NNI) at current prices for the year 2023-24 stands at ₹263.50 lakh crore as against ₹233.91 lakh crore in 2022-23, showing a growth of 12.7 per cent during 2023-24 as compared to growth of 13.3 per cent in the previous year.

Gross National Disposable Income

10. Gross National Disposable Income (GNDI) at current prices is estimated at ₹305.94 lakh crore for the year 2023-24, while the estimate for the year 2022-23 stands at ₹273.39 lakh crore, showing a growth of 11.9 per cent for year 2023-24 as compared to growth of 14.3 per cent in the year 2022-23.

Saving

11. Gross Saving during 2023-24 is estimated at ₹92.59 lakh crore against ₹82.44 lakh crore during 2022-23. Share of Non-financial corporations, Financial corporations, General Government and Household sectors in Gross Savings during 2023-24 stands at 36.0%, 8.2%, (-) 3.1% and 59.0% respectively. Rate of Gross Saving to GNDI for 2023-24 is estimated at 30.3 per cent as against 30.2 per cent for 2022-23.

Capital Formation

12. Gross Capital Formation (GCF) at current prices is estimated at ₹94.68 lakh crore for the year 2023-24 as compared to ₹87.72 lakh crore during 2022-23. The rate of GCF to GDP is 31.4 per cent during 2023-24 as against 32.6 per cent in the 2022-23. The rates of capital formation in the years 2011-12 to 2019-20 and 2021-22 to 2023-24 have been higher than the rate of saving because of positive net capital flow from Rest of the World (RoW).

13. In terms of the share to the total GFCF (at current prices), the highest contributor is Non-Financial Corporations followed by Household sector, share of which stood at 44.2% and 41.7% respectively in 2023-24.

14. The rate of GCF to GDP at constant (2011-12) prices was 35.2 per cent in 2022-23 and 34.6 per cent in 2023-24.

Consumption Expenditure

15. Private Final Consumption Expenditure (PFCE) at current prices is estimated at ₹181.30 lakh crore for the year 2023-24 as against ₹165.28 lakh crore in 2022-23. In relation to GDP, the PFCE to GDP ratio at current prices during 2022-23 and 2023-24 are 61.5 per cent and 60.2 per cent respectively. At constant (2011-12) prices, the PFCE is estimated at ₹93.85 lakh crore and ₹99.07 lakh crore, respectively for the years 2022-23 and 2023-24. The corresponding PFCE to GDP ratio for the years 2022-23 and 2023-24 are 58.1 per cent and 56.1 per cent respectively.

16. Government Final Consumption Expenditure (GFCE) at current prices is estimated at ₹31.04 lakh crore for the year 2023-24 as against ₹27.58 lakh crore during 2022-23. At constant (2011-12) prices the estimates of GFCE for the years 2022-23 and 2023-24 stand at ₹15.44 lakh crore and ₹16.70 lakh crore respectively.

Per Capita Estimates

17. Per Capita Income i.e. Per Capita Net National Income at current prices is estimated at ₹1,69,145 and ₹1,88,892 respectively for the years 2022-23 and 2023-24. Per Capita PFCE at current prices, for the years 2022-23 and 2023-24 is estimated at ₹1,19,516 and ₹1,29,967 respectively.

Summary of Revisions in the GDP Estimates

Revision in the estimates of the year 2023-24

18. The following statement gives the major reasons of variation between the Provisional Estimates (released on 31^st May, 2024) and the First Revised Estimates of GVA for 2023-24.

Sector	GVA growth in 2023-24 (at 2011-12 Prices)		Major reasons for variation
Sector	Provisional Estimate (PE), May 2024	First Revised Estimate (FRE), Feb 2025	Major reasons for variation
Primary	2.1	2.7	GVA estimates of Agriculture, Livestock, Forestry and Fishing sectors have undergone revision due to revision in production estimates of crop sector as per Final Estimate of Ministry of Agriculture and Farmers welfare. The revision in other industries in Primary Sector is due to the incorporation of latest revised data.
Secondary	9.7	11.4	Estimates of secondary sector have undergone revision due to use of data from source agencies along with detailed analysis of Non-departmental Enterprises (NDE) & Private Corporate sectors and budget documents of Government whereas provisional estimates were indicator based.
Tertiary	7.6	9.0	Data from source agencies along with detailed analysis of Departmental Enterprises (DE), NDE and Private Corporate sectors have been used for compilation of estimates for FRE 2023-24 whereas provisional estimates were indicator based. Furthermore, the revision in Public Administration and Defence sector is due to the use of detailed analysis of Budget documents (Centre and State Governments) and latest information of Local Bodies and Autonomous Bodies. In case of Financial services, FRE is based on analysis of annual reports of Financial Corporations and data released by RBI, NABARD and other financial regulators.
Total GVA at Basic Prices	7.2	8.6
GDP	8.2	9.2

[Primary Sector: Agriculture, Livestock, Forestry & Fishing and Mining & Quarrying

Secondary Sector: Manufacturing, Electricity, Gas, Water supply & Other Utility Services and Construction

Tertiary Sector: Trade, Hotels, Transport, Communication and Services related to Broadcasting, Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services]

Revisions in the estimates of the year 2022-23

19. The use of latest available data from various agencies has resulted in changes in both the levels of GVA and growth estimates for the years 2022-23.

Revisions in Major Aggregates

20. The level of revisions in the major aggregates at current and constant (2011-12) prices are given in the following table:

Major National Income Aggregates and their % Changes

(₹ in Lakh Crore)

Sl. No.	Item	2022-23
Sl. No.	Item	1st RE	Final Estimates	% change
At Current Prices
1	GVA at basic prices	246.59	246.47	-0.1
2	GDP	269.50	268.90	-0.2
3	GNI	265.79	265.20	-0.2
4	NNI	234.39	233.91	-0.2
5	GNDI	273.99	273.39	-0.2
At Constant Prices
1	GVA at basic prices	148.05	148.78	0.5
2	GDP	160.71	161.65	0.6
3	GNI	158.31	159.39	0.7
4	NNI	137.47	138.51	0.8

Major reasons for revisions in GVA/GDP estimates for FY 2022-23 are as given below:

Use of updated production estimates (Final Estimates) of horticulture crops from Ministry of Agriculture and Farmers’ Welfare, increase in area under fodder crop and increase in production of sugarcane.
Increase in input value due to use of Cost of Cultivation Survey (CCS) 2022-23 and Electricity tariff for agriculture sector for the year 2022-23.
Use of updated information from NDE and updated information on minor minerals from States in case of Mining & Quarrying sector.
Use of final results of Annual Survey of Industries (ASI): 2022-23 and augmented data for non-financial private corporate sector.
Use of ‘Actuals’ in place of ‘Revised Estimates’ of different items of expenditure and receipts in the Central & State government budgets.
Use of updated information on Local Bodies & Autonomous Institutions.
Use of latest annual reports of Public Sector Enterprises.
Use of latest data received for Cooperative Banks, Post Office Saving Bank (POSB), Non-Banking Financial Institutions (NBFIs), and Financial Auxiliaries.

Detailed statements

21. List of Statements released in part ‘B’ of the press note is given below. More details of the revised estimates, i.e., FRE 2023-24 and FE 2022-23 are available in Statements 1.1B to 9B of Annexure C, which are given in the PDF format of the press note.

Statement 1.1B: Key Aggregates of National Accounts at Current Prices
Statement 1.2B: Key Aggregates of National Accounts at Constant (2011-12) Prices
Statement 2B: Per Capita Income, Product and Final Consumption
Statement 3.1B: Output by Economic Activity and Capital Formation by Industry of Use at Current Prices
Statement 3.2B: Output by Economic Activity and Capital Formation by Industry of Use at Constant (2011-12) Prices
Statement 4.1B: Gross Value Added by Economic Activity at Current Basic Prices
Statement 4.2B: Gross Value Added by Economic Activity at Constant (2011-12) Basic Prices
Statement 5B: Finances for Gross Capital Formation
Statement 6.1B: Gross Capital Formation by Industry of Use at Current Prices
Statement 6.2B: Gross Capital Formation by Industry of Use at Constant (2011-12) Prices
Statement 7.1B: Gross Fixed Capital Formation by Asset & Institutional Sector at Current Prices
Statement 7.2B: Gross Fixed Capital Formation by Asset & Institutional Sector at Constant (2011-12) Prices
Statement 8.1B: Private Final Consumption Expenditure at Current Prices
Statement 8.2B: Private Final Consumption Expenditure at Constant (2011-12) Prices
Statement 9B: Institutional Sectors – Key Economic Indicators at Current Prices

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Annexure C

FORMULAE

GVA at basic prices (Production Approach) = Output at basic prices – Intermediate Consumption
GVA at basic prices (Income Approach) = CE + OS/MI + CFC + Production taxes less Production subsidies⁽ⁱ⁾
GDP = ∑ GVA at basic prices + Product taxes less Product subsidies⁽ⁱⁱ⁾
NDP/NNI = GDP/GNI – CFC
GNI = GDP + Net primary income from ROW (Receipts less payments)
Primary Incomes = CE + Property and Entrepreneurial Income
NNDI =NNI + other current transfers⁽ⁱⁱⁱ⁾ from ROW, net (Receipts less payments)
GNDI = NNDI + CFC = GNI + other current transfers⁽ⁱⁱⁱ⁾ from ROW, net (Receipts less payments)
Gross Capital Formation^(iv) (Financing Side) = Gross Savings + Net Capital Inflow from ROW
GCF (Expenditure Side) = GFCF + CIS + Valuables
Gross Disposable Income of Govt. = GFCE + Gross Saving of General Government
Gross Disposable Income (GDI) of Households = GNDI – GDI of Govt. – Gross Savings of All Corporations

REMARKS ON THE FORMULAE

Production taxes or subsidies are paid or received with relation to production and are independent of the volume of actual production. Some examples are:

Production Taxes – Land Revenues, Stamps & Registration fees and Tax on profession

Production Subsidies – Subsidies to Railways, Subsidies to village and small industries.

Product taxes or subsidies are paid or received on per unit of product. Some examples are:

Product Taxes- Goods & Service Tax, Excise duties, Sales tax, Service Tax and Import, Export duties

Product Subsidies- Food, Petroleum and fertilizer subsidies.

Other Current Transfers refers to current transfers other than the primary incomes.

Gross Capital Formation (GCF) at the current as well as the constant prices is estimated by two approaches: – (i) through flow of funds, derived as Gross Saving plus net capital flow from Rest of the World (RoW); and (ii) by the commodity flow approach, derived by the type of assets.

Click here to see Press Note in PDF format

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Samrat/ Dheeraj/Allen

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MIL OSI Asia Pacific News –

March 1, 2025

MIL-OSI Asia-Pac: 10,000 FPOs Achieved under Government’s Flagship Scheme
Source: Government of India

10,000 FPOs Achieved under Government’s Flagship Scheme

A Step Towards Atmnirbhar Krishi

Posted On: 28 FEB 2025 3:21PM by PIB Delhi

Introduction

The Central Sector Scheme for “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs) was launched by Prime Minister Shri Narendra Modi on 29th February, 2020. The scheme was launched with a budget outlay of ₹6,865 Crore till 2027-28. Since the launch of the scheme, ₹254.4 Crore in equity grants has been released to 4,761 FPOs and credit guarantee cover worth ₹453 Cr. has been issued to 1,900 FPOs.[1]

[2]

Recently, on the occasion of the release of the 19^th instalment of PM-KISAN in Bhagalpur, Bihar, Prime Minister Shri Narendra Modi launched the 10,000^th FPO. The 10,000^th FPO has been registered in Khagaria district and focuses on maize, banana, and paddy. FPOs are not just organizations but an unprecedented force to increase farmers’ income and provide small farmers with direct access to significant market benefits, bargaining power and improving market access. Approximately 30 lakh farmers in the country are connected to FPOs, with around 40 percent of them being women. These FPOs are now conducting business worth thousands of crores in the agricultural sector.[3]

Under this scheme, there is a provision for handholding support for a period of five years to each new FPO formed, and financial assistance to the tune of Rs.18 lakhs to each FPO under the scheme towards management cost for 3 years. Additionally, matching equity grant upto Rs. 2,000 per farmer member of FPO with a limit of Rs. 15.00 lakh per FPO and a credit guarantee facility upto Rs. 2 crore of project loan per FPO from eligible lending institutions to ensure institutional credit accessibility to FPOs[4]

What are FPOs?

Farmer Producer Organisation (FPO) is a generic name, which refers to farmer- producers’ organization incorporated/ registered either under Part IXA of Companies Act or under Co-operative Societies Act of the concerned States and formed for the purpose of leveraging collectives through economies of scale in production and marketing of agricultural and allied sector.

The concept behind Farmer Producer Organizations is that farmers, who are the producers of agricultural products, can form groups. To facilitate this process, the Small Farmers’ Agribusiness Consortium (SFAC) was mandated by Department of Agriculture and Cooperation, Ministry of Agriculture, Govt. of India, to support the State Governments in the formation of Farmer Producer Organizations (FPOs).[5]

The “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)” scheme was launched with the main focus on leveraging economies of scale in production and marketing with a view to enhance productivity through efficient, cost effective and sustainable resource use for ensuring sustainable income-oriented farming, thus helping in reduction of cost of farm production and increase in farmers’ income.[6]

Need for FPOs
- Small, marginal and landless farmers face tremendous challenges during agriculture production phase such as for access to technology, quality seed, fertilizers and pesticides including requisite finances.
- They also face tremendous challenges in marketing their produce due to lack of economic strength.
- FPOs help in collectivization of such small, marginal and landless farmers in order to give them the collective strength to deal with such issues. Members of the FPO will manage their activities together in the organization to get better access to technology, input, finance and market for faster enhancement of their income.[7]
OBJECTIVES
1. To provide holistic and broad-based supportive ecosystem to form 10000 new FPOs to facilitate development of vibrant and sustainable income-oriented farming and for overall socio-economic development and wellbeing of agrarian communities.
2. To enhance productivity through efficient, cost-effective and sustainable resource use and realize higher returns through better liquidity and market linkages for their produce and become sustainable through collective action.
3. To provide handholding and support to new FPOs up to five years from the year of its creation in all aspects of management of FPO, inputs, production, processing and value addition, market linkages, credit linkages and use of technology etc.
4. To provide effective capacity building to FPOs to develop agriculture entrepreneurship skills to become economically viable and self-sustaining beyond the period of support from the government.[8]
Convergence of Ministries for FPOs in India-
1. Ministry of Agriculture & Farmers Welfare: Supports FPOs in getting seed, pesticides and fertilizer licenses, and helps in providing dealership through Agri Input companies. With this assistance, FPOs are able to work as dealers/distributors and generate income. The Ministry also supports FPOs by linking them to Institutional buyers and through ecommerce platforms like ONDC, e-NAM etc.[11]
2. Ministry of Food Processing: Support for FPOs through financial outlays, such as providing credit-linked capital subsidy @ 35% of the eligible project cost, 50% financial grant for branding and marketing.[12]
3. Ministry of Micro & Small Enterprises: Special provisions for FPOs such as access to funds in the form of FPO management cost, equity grant and credit guarantee facility apart from capacity building trainings, marked and credit linkages. [13]
4. Ministry of Fisheries, Animal Husbandry, and Dairying: Benefits and schemes tailored to FPOs, such as “Supporting Dairy Cooperatives and Farmer Producer organizations engaged in dairy activities” with a total allocation of Rs. 500 Cr during 2021-22 to 2025-26.[14] Additionally, forming and promoting 100 Fodder Plus FPOs through NDDB (National Dairy Development Board).[15]
5. APEDA (Agricultural & Processed Food Products Export Development Authority): APEDA provides assistance to APEDA registered FPOs for export and MSME under its scheme of Fund for Regeneration of Traditional Industries (SFURTI), which provides assistance for setting up enterprises.[16]
6. Spices Board: The Sustainability in Spice Sector through Progressive, Innovative and Collaborative Interventions for Export Development (SPICED) scheme is designed to expand area and improve productivity of Cardamom (small & large). It also aimed at generating an exportable surplus of quality spices through post-harvest improvement, export promotion of spices, increasing the share of value-added spices in the export basket, evaluating compliance of export consignments with applicable standards of quality and safety, capacity building & skill development of stakeholders etc. [17]
[18]

Services and Activities undertaken by FPOs

The FPOs provide and undertake following relevant major services and activities for their development:
1. Supply quality production inputs like seed, fertilizer, pesticides and such other inputs at reasonably lower wholesale rates
2. Make available need-based production and post-production machinery and equipment like cultivator, tiller, sprinkler set, combine harvester and such other machinery and equipment on custom hiring basis for members to reduce the per 2 unit production cost
3. Make available value addition like cleaning, assaying, sorting, grading, packing and also farm level processing facilities at user charge basis on reasonably cheaper rate. Storage and transportation facilities may also be made available
4. Undertake higher income generating activities like seed production, bee keeping, mushroom cultivation etc
5. Undertake aggregation of smaller lots of farmer-members’ produce; add value to make them more marketable
6. Facilitate market information about the produce for judicious decision in production and marketing
7. Facilitate logistics services such as storage, transportation, loading/un-loading etc. on shared cost basis.
8. Market the aggregated produce with better negotiation strength to the buyers and in the marketing channels offering better and remunerative prices[19]
Initiatives under the scheme

Credit Guarantee Fund: FPOs need finance, both grants and loans, to quickly establish input collectivisation, working capital, marketing and improved services to member farmers. Considering FPOs’ need for credit from formal financial institutions, a dedicated Credit Guarantee Fund (CGF) has been created under the Central Sector Scheme for Formation and Promotion of 10,000 FPOs. CGF provides credit guarantee cover to financial institutions for extending loans to FPOs.[20]

ONDC platform: Almost 5 thousand out of 8,000 registered Farmer Producer Organizations (FPOs) have been registered on Open Network for Digital Commerce (ONDC) portal for selling the produce online to consumers across the country. The onboarding of FPOs on ONDC to reach out to their buyers in any part of the country is in line with the Central government objective of providing growers with better market access. The move aims to empower FPOs with direct access to digital marketing, online payment, business-to-business and business-to-consumer transactions.[21]

MoU to convert 10,000 FPOs into CSCs: An MoU between CSC SPV (Common Services Centres Special Purpose Vehicle) and Ministry of Agriculture & Farmer’s Welfare was signed to convert FPOs registered under ‘Formation & Promotion of 10,000 FPOs scheme’ into CSCs and help them to deliver citizen-centric services. As per the MoU, 10,000 FPOs will be converted into CSCs. CSC SPV will enable them to provide the services that are available on the Digital Seva Portal. The delivery of CSC services through FPOs is aimed at increasing employment opportunities in rural areas.[22]

[23]

FPOs provide special focus to include small, marginal and women farmers/women SHGs, SC/ST farmers and other economically weaker categories etc. as members to make FPOs more effective and inclusive.

How to Apply

FPOs/FPCs can register on e-NAM Portal via website (www.enam.gov.in) or mobile app or providing following details at nearest e-NAM mandi:
- Name of FPOs/ FPCs
- Name, address, email Id and contact no. of authorized person (MD/CEO /Manager)
- Bank account Details (Name of Bank, Branch, Account no. IFSC Code)[24]
Conclusion

Formation & promotion of FPOs is the first step for converting Krishi into Atmanirbhar Krishi. The successful formation of 10,000 Farmer Producer Organizations (FPOs) under the Central Sector Scheme marks a transformative milestone for the agriculture sector. By fostering collectivization, enhancing market access, and providing financial and institutional support, this initiative has empowered millions of small and marginal farmers, including women and economically weaker sections. This achievement not only boosts agricultural productivity and income but also contributes to rural job creation and economic resilience. As India moves forward, the continued support and expansion of FPOs will be instrumental in shaping a self-reliant, efficient, and prosperous agricultural ecosystem.

References:

Click here to see PDF.

*****

Santosh Kumar/ Ritu Kataria/ Kritika Rane

(Release ID: 2106913) Visitor Counter : 88

MIL OSI Asia Pacific News –
March 1, 2025
MIL-OSI Asia-Pac: Government receives 27 expression of interest submissions for Smart and Green Mass Transit System in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas project

Source: Hong Kong Government special administrative region

Government receives 27 expression of interest submissions for Smart and Green Mass Transit System in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas project
Government receives 27 expression of interest submissions for Smart and Green Mass Transit System in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas project
******************************************************************************************

The Transport and Logistics Bureau, jointly with the Transport Department (TD), invited relevant system suppliers and operators to submit expressions of interest (EOI) for the Smart and Green Mass Transit System (SGMTS) project in Hung Shui Kiu/Ha Tsuen and Yuen Long South New Development Areas (HSK/HT and YLS NDAs) on December 20, 2024. The invitation for the EOI closed today (February 28), and a total of 27 submissions from local, Mainland and overseas companies have been received. A spokesperson for the TD said, “The feedback gathered from the EOI will enhance our understanding of various technical aspects of the project, including system characteristics, operational capabilities, and maintenance and repair requirements. We will immediately commence analysing the information from the EOI, which will serve as a reference for firming up the specific requirements and designs of the SGMTS and the relevant infrastructure, as well as ascertaining the delivery mode and financial arrangements of the project.” “The Government will continue to take forward the SGMTS in the HSK/HT and YLS NDAs project with full momentum, endeavouring to invite tenders for the project in 2026 and award the contract in 2027. In addition, we will make reference to the views gathered from the EOI to explore various procurement options, and to review the feasibility of shortening the overall programme of the project,” the spokesperson added.

Ends/Friday, February 28, 2025Issued at HKT 18:00

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MIL OSI Asia Pacific News –

March 1, 2025
MIL-OSI Asia-Pac: English translation of Press Statement by Prime Minister Shri Narendra Modi during the Joint Press Conference with President of European Commission (February 28, 2025)

Source: Government of India (2)

Posted On: 28 FEB 2025 3:04PM by PIB Delhi

Your Excellency, President of the European Commission,

European College of Commissioners,

Delegates,

Friends from the media,

Namaskar!

This visit of the President of the European Commission and the College of Commissioners to India is unprecedented.

This isn’t just the European Commission’s first visit to India, but also the first such comprehensive engagement of the European Commission in any single country. Also, this is one of the first visits of the new Commission in its latest term. On this historic occasion, I warmly welcome the President of the European Commission and the College of Commissioners to India.

Friends,

This two-decade long strategic partnership between India and EU is natural and organic. Its core is built on trust, a shared belief in democratic values, and a mutual commitment to prosperity and shared progress.

In this spirit, we have held almost 20 ministerial level meetings of different sectors between yesterday and today. Sincere and meaningful discussions were held on various regional and global matters. Many important decisions have been taken to elevate and accelerate our partnership.

We have prepared a blueprint for collaboration in the areas of Trade, Technology, Investment, Innovation, Green Growth, Security, Skilling and Mobility. We have directed our teams to conclude a mutually beneficial Bilateral Free Trade Agreement by the end of this year.

Friends,

To strengthen the investment framework, there has also been talk of moving forward on Investment Protection and GI Agreement. In the field of Technology and Innovation, a trusted and secure value chain is our common priority.

We have also agreed on increasing cooperation in semiconductors, AI, high performance computing and 6G. We have also decided to initiate a Space Dialogue.

Friends,

A balance between Ecology and Economy has been our shared commitment, and our cooperation in this direction has been strong. We have decided to conduct a Green Hydrogen Forum and Offshore Wind Energy Business Summit. Joint research shall be undertaken on EV Batteries, Marine plastics and Green hydrogen. We shall also take forward our Joint Plan on Sustainable Urban Development.

In the field of connectivity, concrete steps will be taken, to take forward the India – Middle East – Europe Economic Corridor or “IMEEC”. I firmly believe that “IMEEC” shall serve as an engine that drives global commerce, sustainable growth and prosperity in the days to come.

Friends,

Our growing cooperation on issues related to Defence and Security, is a symbol of our mutual trust. We will take forward our cooperation on Cyber Security, Maritime Security and Counter Terrorism.

Both sides agree on the importance of peace, security, stability and prosperity in the Indo-Pacific region. We welcome the decision of the EU to join the “Indo Pacific Oceans Initiative”. We will work together on Triangular Development projects for sustainable and inclusive development in the Indo-Pacific region and Africa.

Friends,

People-to-people connect is the strongest asset of our relationship. Today, we have reached a new agreement to increase academia, research and industry partnerships between us. I believe that India’s young talent and Europe’s innovation can together create limitless possibilities.

We welcome the new visa cascade regime of the EU. This will provide better mobility to the abilities of India’s talented youth.

Today, we have decided to create a bold and ambitious roadmap for the India-EU partnership for the period beyond 2025. It will be launched during the next India-EU Summit.

Excellency,

Your visit to India has given new momentum, energy and enthusiasm to our partnership. This journey is the biggest catalyst that will translate our ambition into action.

I eagerly look forward to the opportunity of welcoming you back to India for the next India-EU Summit.

Thank you very much.

******

MJPS/ST/SKS

(Release ID: 2106908) Visitor Counter : 106

MIL OSI Asia Pacific News –

March 1, 2025
MIL-OSI Asia-Pac: Coal Ministry Successfully Hosts Roadshow on Investment Opportunities and Commercial Coal Mine Auctions in Mumbai

Source: Government of India (2)

Coal Ministry Successfully Hosts Roadshow on Investment Opportunities and Commercial Coal Mine Auctions in Mumbai

Coal Minister Reaffirms Government’s Commitment to Mine Safety and Community Welfare

12th Round of Commercial Coal Mines Auctions to Include Underground Mines

Posted On: 28 FEB 2025 2:49PM by PIB Delhi

The Ministry of Coal, in its continued efforts to promote investment opportunities in the coal sector and commercial coal mine auctions, successfully conducted a high-impact roadshow today in Mumbai. The event was graced by Union Minister of Coal and Mines, Shri G. Kishan Reddy, as the Chief Guest. Also present were, Shri Vikram Dev Dutt, Secretary, Ministry of Coal, Ms. Rupinder Brar, Additional Secretary & Nominated Authority, Ministry of Coal, and senior officials from the Ministry of Coal. The event also witnessed the participation of key stakeholders, industry leaders, investors, and policy experts, who engaged in insightful discussions on the future of coal mining in India.

The roadshow served as a strategic platform to accelerate private sector participation, enhance domestic coal production, and promote sustainable mining practices. It focused on policy reforms, ease of doing business, and technological advancements, reaffirming the Government’s commitment to unlocking the full potential of India’s coal sector while ensuring environmental sustainability and long-term energy security.

In his keynote address, Union Minister of Coal and Mines, Shri G. Kishan Reddy highlighted the crucial role of coal in India’s economic progress, particularly in ensuring energy security and meeting growing industrial and power sector demands. He reiterated the Government’s commitment, under the leadership of Prime Minister Shri Narendra Modi, to accelerate domestic coal production, reducing import dependence, and ensuring sustainable mining practices.

The Minister emphasized the remarkable growth in India’s coal production, which has enabled industries and power plants to meet their energy needs efficiently. He underscored the Government’s efforts to bridge the demand-supply gap and ensure uninterrupted coal availability for both captive and commercial consumers. Shri Reddy reaffirmed that coal remains the backbone of India’s energy landscape, contributing over 70% to electricity generation. He also outlined key reforms to attract private investment in commercial coal mining, enhance ease of doing business, and deploy advanced technologies such as automation and digital monitoring to optimize mining operations while minimizing environmental impact. Additionally, the minister highlighted the Government’s large-scale afforestation initiatives on reclaimed land, leading to the development of eco-parks, green belts, and biodiversity zones. Further, he assured that as per Mine closure plan, post-mining landscapes are being restored for sustainable use, including agriculture, forestry, and mine tourism, benefiting local communities.

As India moves towards becoming the world’s third-largest economy and strives for Viksit Bharat 2047, minister reaffirmed the Government’s commitment to community welfare, prioritizing mine safety, rehabilitation, and skill development initiatives. Impressing upon sustainability, minister highlighted the importance of socio-economic upliftment of coal dependent communities and said that worker safety remains a priority urging coal companies to adopt best safety practices, and eco-friendly mining practices to ensure environmental conservation and long-term sectoral stability.

In his address, Shri Vikram Dev Dutt, Secretary, Ministry of Coal, assured investors of the Ministry’s proactive approach in facilitating seamless investment in the coal sector. He emphasized that the Ministry is committed to assisting investors at every stage from obtaining clearances to project execution by coordinating with regulatory bodies and stakeholder ministries to expedite approvals for early operationalization.

He further emphasized that the Ministry is ensuring a fast-tracked approval process, reducing bottlenecks, and improving transparency in the allocation of coal blocks. The Secretary reaffirmed the Ministry’s focus on afforestation on Mined-out land biodiversity conservation, and responsible mine closure practices, ensuring mining activities align with India’s sustainability goals. He also announced that the upcoming 12th round of auctions which is going to start very soon will include underground mines, offering additional financial incentives. Encouraging industry leaders and investors to actively participate in upcoming coal mine auctions, he assured them of full government support, including regulatory assistance, financial incentives, and streamlined processes to enhance business confidence. He reiterated that India’s coal sector offers immense opportunities for investment, innovation, paving the way for a self-reliant and resilient energy future.

In her welcome address, Ms. Rupinder Brar, Additional Secretary & Nominated Authority, Ministry of Coal, underlined the strategic importance of private sector’s participation in coal mining. She reaffirmed the Ministry’s commitment to creating a transparent, competitive, and investor-friendly coal sector. She also highlighted key incentives available to investors and urged stakeholders to leverage policy reforms for long-term growth. She noted that since the commencement of commercial coal mining, coal demand has surged, and the Government has allowed its use beyond captive purposes, enabling mining companies to operate with greater flexibility and market coal as a commodity.

The roadshow featured detailed discussions on investment potential, regulatory reforms, sustainability measures, and coal gasification prospects. It provided a platform for direct engagement between policymakers and industry leaders, facilitating insightful deliberations on upcoming rounds of commercial coal mine auctions, Technological advancements, best practices in sustainable coal mining, policy support for ease of doing business and fast-tracking project approvals.

The roadshow included an engaging and interactive Q&A session, where investors actively engaged with officials, seeking clarity on policies, auction processes, and growth prospects in the coal sector. The queries of potential investors were addressed comprehensively, reinforcing confidence in the industry’s transparent and investor-friendly approach.

The Mumbai roadshow was another significant milestone in the Ministry of Coal’s mission to promote investment, enhance domestic production, and ensure a sustainable future for coal mining in India. The event reinforced the Government’s commitment to strengthening investor confidence, fostering innovation, and advancing India’s energy security goals in line with the vision of Atmanirbhar Bharat.

Hon’ble Minister of Coal & Mines, Shri G Kishan Reddy, addressed the Roadshow on Investment Opportunities in the Coal Sector & Commercial Coal Mine Auctions in Mumbai, highlighting the transformative vision for India’s coal industry. He emphasized key policy reforms, ease of… pic.twitter.com/YfDjlN666g

— Ministry of Coal (@CoalMinistry) February 28, 2025

During his insightful address at the Roadshow on Commercial Coal Mine Auctions, Shri Vikram Dev Dutt, Secretary, Ministry of Coal, highlighted the sector’s strong growth trajectory. Emphasizing the importance of investor outreach, he noted that the policy framework has been… pic.twitter.com/k1SXLTo1ll

— Ministry of Coal (@CoalMinistry) February 28, 2025

In a welcome address during the roadshow on commercial coal mine auctions at The Taj Mahal Palace, Mumbai.

Ms. Rupinder Brar, Additional Secretary & Nominated Authority , Ministry of Coal, highlighted that 2025 marks five years since the launch of commercial coal mine auctions,… pic.twitter.com/3YVIGXahD7

— Ministry of Coal (@CoalMinistry) February 28, 2025

****

Shuhaib T

(Release ID: 2106901) Visitor Counter : 102

MIL OSI Asia Pacific News –

March 1, 2025
MIL-OSI Europe: Message of the Holy Father Francis to participants in the course for those responsible for episcopal liturgical celebrations of the Pontifical Athenaeum of Saint Anselm (24 to 28 February 2025)

Source: The Holy See

Message of the Holy Father Francis to participants in the course for those responsible for episcopal liturgical celebrations of the Pontifical Athenaeum of Saint Anselm (24 to 28 February 2025), 28.02.2025
The following is the Message sent by the Holy Father Francis to participants in the course for those responsible for episcopal liturgical celebrations of the Pontifical Athenaeum of Saint Anselm (24 to 28 February 2025):

Message of the Holy Father
Dear brothers and sisters, good morning!
I greet the Father Abbot Primate and the Dean of the Pontifical Liturgical Institute, with the professors and students who have attended this second edition of the course for those responsible for episcopal liturgical celebrations. I am pleased to note that you have once again accepted the invitation formulated in the Apostolic Letter Desiderio desideravi, continuing to study the liturgy, not only from a theological perspective, but also in the area of celebratory praxis.
This dimension touches the life of the people of God and reveals its true spiritual nature (cf. Dogmatic Constitution Lumen gentium, 9). Therefore, the person responsible for liturgical celebrations is not just a teacher of theology; he is not a scribe, who applies the norms; he is not a sacristan, who prepares what is needed for the celebration. He is a teacher placed at the service of the prayer of the community. While humbly teaching the liturgical art, he must guide all those who celebrate, keeping the ritual rhythm and accompanying the faithful in the sacramental event.
As a mystagogue, he prepares every celebration wisely, for the good of the assembly; he translates into celebratory praxis the theological principles expressed in the liturgical books (Caeremoniale Episcoporum, 9). Thus assisted, the pastor can gently lead the entire diocesan community in the offering of self to the Father, in imitation of Christ the Lord.
Dear brothers and sisters, every diocese looks to the Bishop and the Cathedral as celebratory models to be imitated. I urge you, therefore, to propose and foster a liturgical style that expresses the following of Jesus, avoiding unnecessary pageantry or prominence. I invite you to carry out your ministry in discretion, without boasting about the results of your service. And I encourage you to transmit these attitudes to the ministers, lectors and cantors, according to the words of Psalm 115 quoted in the Prologue of the Benedictine Rule: “Not to us, Lord, not to us give the glory, but to your name alone” (cf. nos. 29-30).
In all of your tasks, do not forget that care for the liturgy is first and foremost care for prayer, that is, for the encounter with the Lord. When he proclaimed Saint Teresa of Ávila as doctor of the Church, Saint Paul VI defined the mystical experience as a love that becomes light and wisdom: the wisdom of the divine and the human (cf. Homily, 27 September 1970). May this great master of spiritual life be an example to you: indeed, to prepare and guide liturgical celebrations means bringing together divine and human wisdom. The first is acquired through prayer, meditation and contemplation; the second comes from study, the commitment to deepen, the ability to listen.
To succeed in these tasks, I advise you to keep your eyes on the people, of whom the Bishop is pastor and father: this will help you to understand the needs of the faithful, as well as the forms and ways to promote their participation in liturgical action.
Since worship is the work of the whole assembly, the encounter between doctrine and pastoral care is not an optional technique, but a constitutive aspect of the liturgy, which must always be incarnated, inculturated, expressing the faith of the Church. Consequently, the joys and sufferings, the dreams and concerns of the people of God possess a hermeneutical value that we cannot ignore (cf. Videomessage to the International Congress of Theology at the U.C.A., Buenos Aires, 1-3 September 2015). I like to recall, in this regard, what the first dean of the Pontifical Liturgical Institute, Benedictine Abbot Salvatore Marsili, wrote. It was in 1964: with foresight he invited us to become aware of the message of the Second Vatican Council, in the light of which no true pastoral work is possible without liturgy, because the liturgy is the peak to which all the action of the Church (cf. S. Marsili, Riforma Liturgica dall’alto, Rivista Liturgica 51 [1964] 77-78).
As I invite you to make these words the fundamental perspective of your ministry, I hope that every one of you will always have at heart the people of God, whom you accompany in worship with wisdom and love. And do not forget to pray for me.
From “Gemelli” Hospital, 26 February 2025
FRANCIS

MIL OSI Europe News –

March 1, 2025
MIL-OSI United Kingdom: Winchester City Council Approves Budget for 2025/26
Source: City of Winchester

Winchester City Council has approved a balanced budget for the upcoming year, which supports vulnerable people, addresses the climate emergency, improves recycling and protects our environment.

The budget sets out a commitment to the roll out of weekly food waste recycling collections to all households later this year with £595,000 allocated this year (£460,000 as one-off funding).

It has a strong emphasis on supporting vulnerable people, with additional funding to help prevent homelessness (an additional £300,000) and a revision of income bands for the council tax reduction scheme – ensuring that support continues to be received after the changes to the DWPs universal credit scheme.

Recognising the ongoing impact of the cost of living, the council has also extended the Council Tax Exceptional Hardship Fund into 2025/6.

The budget also allocates funding to increase capacity for planning enforcement cases, to help protect the district’s communities, its heritage and the natural environment from harmful unauthorised development.

The budget has been aligned to help achieve the council’s priorities following approval of the new council plan, which was developed following public consultation. The Plan’s priorities include:
- Going Greener Faster
- Thriving Places
- Healthy Communities
- Good homes for all
The council has committed to do this in a way that’s:
- Efficient and effective
- And where it’s listening and learning
The full council meeting also approved an average council tax increase of 2.7%. For a Band D property, the City Council’s share of the council tax bill will be £163.66 per year (an increase of £4.30 per year).

The council’s immediate financial position is stable. However, as with many local authorities, it faces increasing budget pressure long term, which it is addressing through its transformation programme, focusing on reviewing contracts, creating an effective and efficient digital service and generating more income.

Speaking about the budget, Cabinet Member for Finance and Performance Cllr Neil Cutler said:

“I’m very pleased that we continue to be able to present a balanced budget for the forthcoming year. It is a budget that ensures we continue to enhance services for our residents and invest in projects that will create healthier communities, tackle climate change, increase access to housing and make the district a more vibrant place for residents, visitors and businesses. It also recognises future funding challenges which we’re addressing ahead of time. While we don’t have the same urgency as some of our neighbours, we expect government funding to reduce in future so we need to plan for these now.”

Last Updated: Friday 28 February 2025
MIL OSI United Kingdom –
March 1, 2025
MIL-OSI: No. 5/2025 – Notice to convene annual general meeting
Source: GlobeNewswire (MIL-OSI)

Nasdaq Copenhagen
Nikolaj Plads 6
DK-1067 Copenhagen K

Copenhagen, 28 February 2025
ANNOUNCEMENT no. 5/2025

CEMAT A/S
Company reg. (CVR) no. 24 93 28 18
Annual general meeting

The Board of Directors hereby convene the annual general meeting of Cemat A/S (the “Company”) for Wednesday, 26 March 2025, at 1:00 pm at the office of DLA Piper Denmark, Oslo Plads 2, 2100 Copenhagen OE, Denmark.

Agenda

The agenda of the annual general meeting is the following:
1. The management’s report on the Company’s activities during the past financial year.
1. Presentation of the audited annual report for adoption.
1. The Board of Directors’ proposal for appropriation of profit or covering of loss according to the adopted annual report.
1. Presentation of and indicative vote on remuneration report.
1. Approval of the Board of Directors’ fees for the current financial year.
1. Election of members to the Board of Directors.
2. Appointment of auditor.
1. Proposals from the Board of Directors or shareholders.
1. Any other business.
Complete proposals

Re item 1     The management’s report on the Company’s activities during the past financial year.

The Board of Directors proposes that the general meeting takes note of the management’s report.

Re item 2     Presentation of the audited annual report for adoption.

The Board of Directors proposes that the general meeting adopts the annual report.

Re item 3     The Board of Directors’ proposal for appropriation of profit or covering of loss according to the adopted annual report.

The Board of Directors proposes that the profit for the year as recorded in the Annual Report as adopted by the general meeting be carried forward to next year.

Re item 4     Presentation of and indicative vote on remuneration report.

The Board of Directors proposes that the general meeting adopts the presented remuneration report.

Re item 5     Approval of the Board of Directors’ fees for the current financial year.

The Board of Directors proposes that members of the Board of Directors will receive the basic fee of DKK 220,000 for the financial year 2025.

The chairman of the Board of Directors will receive the basic fee multiplied by a factor of 2.5, and the vice-chairman will receive the basic fee multiplied by a factor of 1.75.

Re item 6     Election of members to the Board of Directors.

The Board of Directors proposes to re-elect:

Frede Clausen, chairman, born 1959
Professional board member
Various banking qualifications
Graduate Diploma in Business Administration
Elected chairman in 2018
Other duties and offices:
Frede Clausen Holding ApS (CEO)
Core Poland Residential V (board member)
Malik Supply A/S (chairman)
Developnord A/S (chairman)
Søndergaard Holding Aalborg ApS (chairman)
Palma Ejendomme ApS (chairman)
Ejendomsselskabet Gøteborgvej 18 ApS (vice-chairman)
PL Holding Aalborg A/S (chairman)
Radioanalyzer ApS (chairman)
Independent
Special qualifications: Strategic management, business development and real estate
Languages: Danish and English

Eivind Dam Jensen, vice-chairman, born 1951
Estate Agent
Member of the Danish Association of Chartered Estate Agents
Diploma in Administration
Elected vice-chairman in 2005
Other duties and offices:
Owner of Chartered Estate Agency E. Dam Jensen
Chairman and sole shareholder of A/S Eivind Dam Jensen
Owner of Brundtland Golfcenter (via A/S Eivind Dam Jensen)
Non-independent
Special competences: Purchase, sale, valuation and letting of commercial and
investment properties and property management
Languages: Danish, English and German.

Joanna L. Iwanowska-Nielsen, born 1968
Real Estate Expert
Degree in International Trade, Organisation and Management
from the Warsaw School of Economics
Joined the Board of Directors in 2016
Directorships and other managerial positions:
Member of the board of directors of Sustainable Malkowo
Advisor to the Board of Directors, Ecofarm Foundation
Member of the board of directors of Coille Righ Green Energy, Scotland
Member of the board of directors of WildaNova
Member of the board at NielsenNielsen Ltd (UK)
Managing Partner in NOLTA Consultants and NOLTA Career Experts
Board Member of EPI (European Property Institute) think tank
Member of Warsaw Women in Real Estate & Development
Founding Member of Women in Global Health’s CEE Chapter
No directorships in other Danish companies
Independent
Special qualifications:
Experience in the real estate trade in Poland, CEE and
internationally (development, strategy, sales and project
management in both the commercial and residential property
sectors, including sustainable housing, farming enterprises and energy solutions)
EMCC accredited business coach & mentor
Languages: Polish, English and Russian.

Brian Winther Almind, born 1966
Executive Vice President, DSV Group Property
Joined the Board of Directors in 2023
Other duties and offices:
Shipping agent – Ellegard Transport, of which 2 years were in Verona, Italy
Traffic manager – DFDS Transport
Traffic manager – DHL A/S
Executive Vice President – DSV A/S since 1997
Directorships and other managerial positions:
Member of the board in several companies owned by DSV A/S
Network – European Logistics Forum (ELF), VL 111
No directorships in other Danish companies
Special competences:
Generel management, business development, integration of companies. Property in relation with purchase of land, public sector handling, project management, building activities, purchase and sale, leasing, law, strategy, finances, various large projects in more than 90 countries.
Languages: Danish and English.

Re item 7     Appointment of auditor.

The Board of Directors proposes that BDO Statsautoriseret Revisionsaktieselskab be reappointed.

Re item 8     Proposals from the Board of Directors.

No proposals have been received from the board of directors or executive board

General information

The Company’s nominal share capital amounts to DKK 4,997,006.06, divided into 249,850,303 shares of DKK 0.02 each. Each share of DKK 0.02 entitles the holder to one vote.

The Company has concluded a connection agreement with VP Securities A/S. The financial rights of the shareholders may thus be exercised through VP Securities A/S.

Requirements for adoption

Items 2-7 considered at the general meeting will be determined by a simple majority of votes, see article 10.1 of the Company’s articles of association as well as section 105 of the Danish Companies Act.

The Company’s website

This notice, including the agenda, remuneration report, information about the total number of shares and voting rights on the date of the notice and proxy, postal voting and registration forms for ordering an entry card, will be made available to the shareholders on the Company’s website, www.cemat.dk, under “Investor/General Meetings” from 28 February 2025.

This notice has also been published via Nasdaq Copenhagen A/S, the IT system of the Danish Business Authority and the Company’s website as well as by e-mail to the shareholders having requested e-mail notification of general meetings when stating their e-mail addresses.

Date of registration

The shareholders will be entitled to exercise the right to vote attaching to the shareholders’ shares, by attendance at the Company’s general meetings or by post pro rata to their shareholding at the date of registration, which is one week before the general meeting.

The date of registration is Wednesday, 19 March 2025.

The shareholding of each individual shareholder will be determined at the end of the date of registration based on the number of shares held by the shareholder according to the register of shareholders as well as any notice of ownership received by the Company for the purpose of registration in the register of shareholders, but not yet been registered. In order to be registered in the register of shareholders and included in the calculation, notices of shareholdings must be documented by a transcript from VP Securities A/S or other similar documentation. This documentation must be received by the Company before the end of the date of registration.

Only the persons who are shareholders of the Company on the date of registration will be entitled to participate and vote at the general meeting but see below regarding the shareholders’ timely request for entry cards.

Accordingly, any person who has purchased shares, whether by transfer or otherwise, will not be entitled to vote on the shares in question at the general meeting, unless he or she has been recorded in the register of shareholders or has notified the Company and provided documentation of his or her acquisition, no later than on the date of registration, which is Wednesday, 19 March 2025.

Entry cards

In order to participate in the general meeting, the shareholders must request an entry card for the general meeting no later than Friday, 21 March 2025. Entry cards may be requested electronically via www.cemat.dk until Friday, 21 March 2025, at 23:59 using MitID or custody account number and password on the Company’s shareholder portal. Shareholders registering for the general meeting electronically will immediately receive a confirmation of their registration.

It is also possible to request an entry card by forwarding a completed registration form to the Company’s keeper of the register of shareholders, Computershare A/S, Lottenborgvej 26D, 2800 Kongens Lyngby, Denmark, which must receive the form by Friday, 21 March 2025 at 23.59. The registration form is available at www.cemat.dk.

Please notice that ordered admission cards will no longer be sent out by ordinary mail.

Admission cards ordered via the shareholder portal will be sent out electronically via email to the email address specified in the shareholder portal upon registration. The admission card must be presented at the annual general meeting either electronically on a smartphone/tablet or in a printed version.

Admission cards can be picked up at the entrance of the general meeting upon presentation of a valid ID.

Proxy

Shareholders are entitled to attend by proxy. An electronic proxy instrument may also be submitted via the shareholder portal until Friday, 21 March 2025, at 23:59.

The complete proxy form must be received by the Company’s keeper of the register of shareholders, Computershare A/S, by Friday, 21 March 2025, at 23:59. The proxy form is available at www.cemat.dk.

Postal voting

Shareholders may elect to vote by post, i.e., by casting their votes in writing, before the general meeting, instead of attending the general meeting and voting there.

Shareholders who elect to vote by post may submit their postal vote electronically via the shareholder portal or send their postal vote to Computershare A/S where it must be received by Tuesday, 25 March 2025, at 16:00.

Once received, a postal vote cannot be recalled. Please note that letters may sometimes take several days to reach their destination.

Questions

Shareholders will have an opportunity to ask questions to the agenda as well as to the other materials for the general meeting before the general meeting.

Any questions concerning this announcement may be directed to info@cemat.dk.

Cemat A/S

Frede Clausen
Chairman of the Board of Directors

This announcement has been issued in Danish and English. In case of any inconsistencies, the Danish version will prevail.

Please write to investor@cemat.dk to deregister from this mailing list.

Attachment
- Announcement no. 5 – 28.02.2025 – Notice to convene AGM 2025
The MIL Network –
March 1, 2025
MIL-OSI China: China, UAE hold trade promotion event in Dubai

Source: People’s Republic of China – State Council News

DUBAI, Feb. 28 — The China-UAE Trade and Investment Forum, which also serves as a promotion event for the third China International Supply Chain Expo, was held in Dubai on Thursday, gathering over 120 business representatives and resulting in multiple trade and investment agreements.

Ren Hongbin, chairman of the China Council for the Promotion of International Trade, emphasized in his speech that the council is committed to enhancing bilateral economic and trade cooperation with the United Arab Emirates (UAE) business community under the Belt and Road Initiative.

Ren highlighted key areas for collaboration, including trade, energy, infrastructure, new energy and the digital economy, while emphasizing the need to strengthen industrial and supply chain ties and expand multilateral business partnerships.

Maria Kassem, assistant undersecretary at the UAE Ministry of Economy, said China remains the UAE’s largest trading partner, with deepening economic ties driving investment and industrial development. She expressed confidence in further expanding bilateral cooperation and strengthening China-UAE relations.

During the event, the China International Exhibition Group promoted the upcoming third edition of the expo.

Chinese Consul General to Dubai, Ou Boqian, noted that the expo is increasingly recognized as an important international public good, setting a new benchmark for global supply chain cooperation and trade development.

MIL OSI China News –

March 1, 2025
MIL-OSI United Kingdom: City leaders reaffirm that innovation and growth remains priority

Source: City of Leeds

In response to the Government’s announcement of delays to the development of the new hospital at Leeds General Infirmary, leaders from Leeds City Council, the West Yorkshire Combined Authority, the University of Leeds, Leeds Beckett University and Leeds Teaching Hospitals NHS Trust have reaffirmed their unwavering commitment to innovation and growth across the city.

The partnership has confirmed it would continue to deliver on its long-term vision for driving innovation and growth in the city to create a healthier, greener and more inclusive future for all.

This follows the confirmation of funding and a start date of between 2033 and 2035 for the development of the new hospital at Leeds General Infirmary.

Despite the Government’s announcement of delays to the development of the new hospital at Leeds General Infirmary, City leaders are pleased to announce that plans for the Leeds Innovation Village, a key neighbourhood within the city’s £2 billion Leeds innovation Arc, and one of the flagship projects of the £160 million West Yorkshire Investment Zone – will still go ahead, with ambitions to start construction later this year.

The Village, which is set to bring about £13 billion in economic growth for the city and around 4,000 jobs will continue and is already into its first phase. This includes the redevelopment of the Old Medical School on the Leeds General Infirmary site into a cutting-edge healthtech innovation hub by one of the UK’s most active, privately-owned, mixed-use developers, Scarborough Group International.

Dame Linda Pollard DBE DL Hon. LLD, Chair of Leeds Teaching Hospitals NHS Trust said:

“Our plans for a new hospital are more than healthcare and play a pivotal role in harnessing innovation and stimulating growth across Leeds and beyond. Despite the announcement of disappointing delays to our new hospital at Leeds General Infirmary, plans for the Leeds Innovation Village will still go ahead, with early phases already underway.”

The development of a new hospital at Leeds General Infirmary, alongside wider plans to boost growth and innovation across the city, are a central part of the West Yorkshire Mayor’s local growth plan, which aims to boost the region’s fastest growing business sectors with a special focus on health and life sciences, in line with the Government’s emerging national industrial strategy.

This latest commitment builds on a wide range of successful innovation assets across the Innovation Arc including:

· The successful and vibrant community of innovators and entrepreneurs at Nexus, a state-of-the-art innovation hub on the University of Leeds campus. Nexus has raised £134m in private investment since launching in 2019, with a return on investment of £1.92 for every £1. To date, it has worked with 191 companies and brings together the brightest minds in business, technology and academia and cites over half of its member businesses as healthtech innovators.

· Leeds Teaching Hospital’s fast-growing Innovation Pop Up, located in the Innovation Village on the Leeds General Infirmary site, has grown its membership to over 50 industry members

during its first three years and is currently collaborating on around 40 projects with industry partners. The Pop Up brings work nationally and internationally to bring together world-leading clinicians and healthtech industry partners to grow innovation, research and technology for the benefit of patients.

· Leeds Becket University’s £80m Leeds School of Art building which provides industry standard facilities for over 2500 students and 100 staff studying and researching in film, TV, technology, sound, music, drama, dance and fashion. The centre provides wider cultural and industry partnerships across Leeds.

· An envisaged route of the West Yorkshire Mayor’s Mass Transit system would see trams run along the spine of the Innovation Arc, linking Leeds station and the South Bank to Harehills. This would bring modern, sustainable transport modes to the heart of the Innovation Arc, reducing north-south travel times, creating potential hubs around stops, and providing connections to the wider area.

The renewed commitment will see Leeds continue its journey as one of the UK’s most stable, forward-thinking and attractive locations for health and care research and innovation. With the backing of strong collaborative leadership, Leeds ranks as the third most attractive location for healthtech firms which are ready to launch or looking to move, having the highest number of biomedical scientist undergraduates in the country and being home to nine of the top 10 investors in research and development.*”

Tracy Brabin, Mayor of West Yorkshire, said:

“As the home of NHS England and Europe’s largest teaching hospital, Leeds is an international magnet for health innovation, and there is no setback that can stop us from realising our potential.

“With our multimillion-pound Investment Zone driving the development of the Old Medical School into a world-leading centre of medical and technological innovation, we will deliver jobs and growth here in West Yorkshire while transforming the lives of patients worldwide.

“We will also continue to make the case for the all-important new hospital at Leeds General Infirmary to be built as soon as possible, as part of our wider plans to build a well-connected Innovation Arc across the city of Leeds through our new Mass Transit system, driving growth.

Councillor James Lewis, leader of Leeds City Council said:

“We remain absolutely committed to our long-term vision for the city of stimulating innovation and economic growth that drives and delivers measurable impact towards a healthier, greener and inclusive future for all.

“The Leeds Innovation Village, a key neighbourhood within the city’s £2 billion Innovation Arc, will progress as planned, and we’re excited about the potential it holds to drive economic growth, create jobs, and improve healthcare. The transformation of the Old Medical School into a new cutting-edge health innovation hub will further solidify Leeds’ position as a global healthtech hub.”

-ENDS-

For further information, please contact Jessica Hardman, Head of Communications (BtLW), Leeds Teaching Hospitals NHS Trust, Jessica.hardman3@nhs.net

Notes

This recommitment has been made by:

Professor Phil Wood, Chief Executive, Leeds Teaching Hospitals NHS Trust; Cllr James Lewis, Leader, Leeds City Council; Tracy Brabin, Mayor, West Yorkshire Combined Authority; Professor Shearer West, Vice-Chancellor and President, University of Leeds; Professor Peter Slee, Vice Chancellor, Leeds Beckett University.

*Pursing excellence report, an independent analysis of Leeds’ research and innovation in health and care, March 2024 (commissioned by Leeds Academic Health Partnership)

The Leeds Innovation Arc, the city’s £2billion city centre science park, is a global destination for people, investment and innovation in one of the UK’s fastest growing and greenest cities with an ecosystem addressing the biggest societal challenges of our time through collaborative, diverse and innovative solutions. The Arc is home to some of the most significant innovation assets in the north of England, both public and private sector, including our two biggest universities, the hospital and Nexus at the University of Leeds, a hub for an increasing number of innovative businesses including SeeAI, Itecho Health and Atlas Endoscopy.

Leeds City Council’s work as a city on innovation builds on our participation in the prestigious Massachusetts Institute of Technology Regional Entrepreneurship Accelerator Program (MIT REAP) which fueled Leeds’ drive to grow the regional innovation ecosystem and bench mark ourselves and our progress.

The Government review into the New Hospital Programme, which the new hospital at Leeds General Infirmary was part, has now concluded. The Secretary of State for Health announced on Monday 20 January that the new hospital at Leeds General Infirmary has been included in Wave 2 of the programme and will not now start construction until some time between 2033-2035.

MIL OSI United Kingdom –

March 1, 2025

MIL-OSI Economics: Sectoral Deployment of Bank Credit – January 2025

Source: Reserve Bank of India

Data on sectoral deployment of bank credit for the month of January 2025¹ collected from 41 select scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks, are set out in Statements I and II.

On a year-on-year (y-o-y) basis, non-food bank credit² as on the fortnight ended January 24, 2025³ grew at 12.5 per cent (a three-month high) as compared to 16.2 per cent for the corresponding fortnight of the previous year (January 26, 2024).

Highlights of the sectoral deployment of bank credit³ are given below:

Credit to agriculture and allied activities registered a growth of 12.2 per cent (y-o-y) as on the fortnight ended January 24, 2025 (20.0 per cent for the corresponding fortnight of the previous year).
Credit to industry recorded a growth of 8.2 per cent (y-o-y) as on the fortnight ended January 24, 2025, compared with 7.5 per cent for the corresponding fortnight of the previous year. Among major industries, outstanding credit to ‘petroleum, coal products and nuclear fuels’, ‘basic metal and metal product’, ‘chemicals and chemical products’ and ‘all engineering’ recorded an accelerated growth.
Credit growth to services sector moderated to 13.8 per cent (y-o-y) as on the fortnight ended January 24, 2025 (21.0 per cent for the corresponding fortnight of the previous year), with a decelerated growth in credit to ‘non-banking financial companies’ (NBFCs) and trade segments. However, credit growth (y-o-y) to ‘computer software’ accelerated.
Credit to personal loans segment registered a growth of 14.2 per cent (y-o-y) as on the fortnight ended January 24, 2025, as compared with 18.2 per cent a year ago, largely due to decline in growth rate in ‘other personal loans’, ‘vehicle loans’ and ‘credit card outstanding’ segments.

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/2276

MIL OSI Economics –

February 28, 2025

MIL-OSI Russia: A year in RIM: at SPbGASU, estimators discussed the results of work on the resource-index method

Translartion. Region: Russians Fedetion –

Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Victoria Vinogradova, Alexander Grimitlin, Valery Uskov, Evgeny Enokaev, Maxim Shibnev, Alexey Belousov, Oleg Razgulyaev, Pavel Goryachkin

For the second time, SPbGASU held a conference on the application of the resource-index method (RIM) for pricing the estimated cost of construction for government procurement projects.

RIM is a new method for determining the estimated cost of construction. It involves the use of estimate standards – a list of resources required to carry out the work and their quantity, but without base prices. The cost of each resource is determined in current prices directly at the time of drawing up the estimate. Since the first quarter of 2024, 85 regions of the country have switched to RIM. Let us recall that a year ago, the Consortium of the Construction Industry of the Northwestern Federal District (includes the construction committees of St. Petersburg and the Leningrad Region, the SRO Association “Association of Builders of St. Petersburg”, SPbGASU, NP “Association of Manufacturers of Building Materials”), the IOO “Union of Estimating Engineers” and the National Association of Surveyors and Designers (NOPRIZ) held the first conference on the use of RIM. Then the professional community discussed the expected effectiveness of the innovation and the problems in construction processes associated with it. This year, the organizers of the conference summed up some of the work.

“A year ago, the obligation to switch to RIM was an event that took many by surprise. Today, we intend to discuss ways to facilitate and increase the reliability of the work of estimators,” emphasized Oleg Razgulyaev, Vice President of the Association of Construction Materials Manufacturers, moderator of the conference.

Alexey Belousov, General Director of the Saint Petersburg Builders Association and Coordinator of the Northwestern Federal District Construction Industry Consortium, noted that today prices for construction materials are quite volatile, which requires better work with them, so the conference is of great importance. “RIM allows for more efficient work in the current conditions. In addition, the government has legislatively allowed for price adjustments during construction in the range of up to 30 percent. This is serious support for the industry,” he said.

Digital aspects

Alexander Grimitlin

Vice President of NOPRIZ Alexander Grimitlin recalled that in light of geopolitical events, unprecedented pressure caused certain concerns, since many foreign software products were supplied from unfriendly countries. Risks arose that could have led to tragic consequences, but became less unpleasant and certainly not catastrophic.

“Until 2022, about 600 software products were used in 49 areas of the domestic construction industry, after the well-known events, almost half left the Russian market. But our activities have not undergone significant transformation. Since the beginning of this year, NOPRIZ has launched a program to stimulate software developers, to increase their own product, including with the help of government measures, because this task is not easy due to the financial situation of the developers themselves. If large companies are able to provide for themselves, then it is more difficult for small ones – they cannot organize the development of the new product they need.

In addition, I consider the assistance in training personnel within the framework of the TIM championships of SPbGASU to be significant. They also include costing, which is very useful for participants, since at the very beginning of their professional activity it gives them skills in working in the automated calculation system.

The digital modeling method is very important in science. It allows achieving greater efficiency and solving problems in an unconventional way. The introduction of calculation programs and price instability create serious difficulties for the industry, but you can’t choose your time. Therefore, it is necessary to continue to engage in qualified cost estimates,” says Alexander Grimitlin.

In the process of implementation

Deputy Chairman of the Committee for Construction of St. Petersburg Evgeny Uskov noted that his department began analyzing the necessary data and issuing the relevant documentation practically from the moment the decree on the transition to RIM was signed.

“In 2024, 118 social facilities were built, 37 of which were financed from the city budget and 81 from investors. We managed to obtain permission using the new calculation method for two facilities. For 2025-2027, design survey work is planned for 124 facilities, of which two projects using RIM are undergoing examination and technical specifications have been developed for 19. In 2025, it is planned to commission 112 social facilities, 42 of which are financed from the city budget. A large amount of funding is planned for the development of design documentation. Since December 1, 2024, documentation has been submitted electronically in the information system of the Ministry of Construction of Russia. Digital technologies allow for more efficient and effective management of construction processes. RIM is considered a tool with a number of advantages, including increasing the accuracy and reliability of cost determination. The transition to it is gradual, but accompanied by difficulties,” recalled Evgeny Uskov.

Among the difficulties, he named the low filling of the Federal State Information System of Pricing in Construction (FSISPC), the decrease in the final cost of construction projects, the lack of standard pilot projects in RIM and the experience of specialists. Many questions also arise regarding the procedure for developing estimates, in particular, the procedure for drawing up estimate documentation and the procedure for determining the cost of resources, the increase in the volume of the estimate itself, the form of which is cumbersome and inconvenient for analyzing interim results. A market analysis of transportation prices and the calculation of the time and cost of delivery is necessary.

Strategy of the Leningrad Region

First Deputy Chairman of the Leningrad Region Construction Committee Evgeny Enokaev recalled that, in accordance with the strategy for the development of the regional construction industry, the task of improving the pricing system has been implemented since 2016.

“The Leningrad Region switched to RIM a little earlier than St. Petersburg – in 2023, due to which we have more facilities built and under construction using the new calculation method. In 2024, 125 positive conclusions were issued using RIM. One facility – the Prosthetics Center in Vsevolozhsk – has already been built, another one – a clinic in Kirovsk – is at the implementation stage.

We expected an increase in the reliability of cost estimates. Were they more reliable? It is difficult to say yet. But, in any case, the introduction of such innovations is associated with the need to improve them at the implementation stages, so RIM continues to develop: the Ministry of Construction of Russia is working to improve regulatory documents, involving the regions. Issues on improving software are being discussed.

Our committee interacts with construction organizations and understands the problems of the industry well. For example, there is a discrepancy in the cost of resources in remote areas of the region. We cannot make decisions at the local level based on situations that are contrary to the regulatory documents of the federal government, but we actively participate in the discussion of the pricing system. Thus, in early February, a round table was held in the Federal Assembly with the participation of the Ministry of Construction and representatives of the regions. We made proposals that were included in the recommendations for development and implementation for the relevant ministries,” said Evgeny Enokaev.

He noted that one of the key elements influencing the formation of a single price and index database in the FGISTSS is the monitoring center, a subordinate body of the executive power of the subjects. In the Leningrad Region, the tasks of monitoring the filling of the FGISTSS, quarterly monitoring of resource prices, and annual calculation of the wages of a first-category worker are assigned to the pricing department in construction. According to him, over the past five years, the growth of industry wages has amounted to about 100 percent. However, today the standard wage is significantly underestimated relative to the actual one. It is expected that this year it will amount to 63,500 rubles and will exceed the figures for the previous year by 38 percent. The next area is providing data for calculating indices based on the current cost of resources in accordance with the nomenclature. Over the past five years, the volume of the nomenclature has increased by 85 percent, and indices are already being issued based on the results of this data.

“The FGISTS database remains low in volume; it has not been possible to increase its volume to 50 percent in five years. In the first quarter of this year, only 34 percent of 800 legal entities engaged in construction activities in the Leningrad Region submitted data. In our opinion, business entities do not have a strong motivation to provide prices for their products. We also made a proposal to strengthen this motivation in the Federation Council. The Ministry of Construction is considering various proposals to increase the database, including a possible expansion of the list of legal entities in the construction community that provide information for the formation of estimated prices. Self-regulatory organizations may be involved in this. The creation of an aggregated resource based on the Unified Information System for collecting prices in automatic mode is also being considered, on the basis of which data on price offers formed based on the results of procurement procedures, that is, from electronic trading platforms, will be collected,” said Evgeny Enokaev.

In his opinion, in the conditions of price volatility, the discussed tasks for improving the pricing system may go beyond the RIM. For example, the introduction of a correct calculation of average industry salaries in the construction sector. In early February, the state announced that the methodology for calculating them would be revised, which is now quite strictly regulated so that the region cannot increase salaries, even if it considers it necessary. In addition, the development of a comprehensive forecast index-deflator by types of objects is being discussed, since the current procedure for determining the initial maximum contract price is based on the conditions of a fixed contract price taking into account the forecast inflation of the Ministry of Economic Development of Russia, and there is no mechanism for recalculating prices in the conditions of outstripping inflation. It turns out that the current procedure for determining prices in the terms of the contract does not allow contractors to compensate for the resulting difference. The development of a mechanism for automatic indexation of contract prices is also being discussed, that is, the introduction of a mechanism that provides for the possibility of adjusting the contract price in the event of a deviation of actual inflation from the forecast. Optimization of the processes of compensation of expenses not taken into account in the consolidated estimate calculation, which reasonably arose during the implementation of the contract, is also being discussed. For specific decisions, a long way needs to be made, summarized Evgeny Enokaev.

Using RIM is cheaper and more reliable

Pavel Goryachkin

It is too early to draw conclusions, but there are some observations, and the main one shows that most government procurement projects using RIM are cheaper, and the calculations are more reliable, emphasized Pavel Goryachkin, President of the International Public Organization “Union of Estimating Engineers”, Director of the Department of Pricing and Expert-Analytical Work of the Association of Builders of Russia. He emphasized that it is most correct to tie salary calculation not to the first category, but to the actual statistics of accrual of the minimum wage in the region and industry, taking into account the indexation coefficient. For example, in the Leningrad Region, the average minimum accrued salary for October 2024 was 93 thousand rubles, in St. Petersburg – 90 thousand rubles.

“The filling of the FGISTSS is not the main task. Over the year, the live price indicator in it for the Leningrad Region and St. Petersburg has doubled. A year ago, at this conference, we talked about about 647 resources with live prices, today there are 1,200–1,300 of them. The situation is the same in other regions. Considering that there are 64–67 thousand resources in the industry, we will be doubling their number with live prices for more than a decade. Therefore, when drawing up estimates in the absence of a live price, we take the 2022 price and multiply it by the index. But an estimate that is too voluminous and requires a lot of analytical work is a problem,” says Pavel Goryachkin.

He also spoke in detail about the problems of settlements for work performed under the RIM estimate and the changes introduced this year.

With the right approach, the job will become easier

Maxim Shibnev, Director of Development at Inter Group of Companies, expressed confidence that with a skillful approach and the ability to use digital tools, it is possible to significantly facilitate the work of estimators, including estimators.

“There is no shortage of software developers now, but there is a crisis in understanding the subject area, that is, in what a specific specialist who will use the software really needs. For example, it is needed by a designer who must correctly allocate resources. Correctly allocated resources are the basis for correctly allocated production, construction management, material quality assessment, and logistics. During construction, there is a lot of different documentation, and the information system operates with this metadata. Currently, titanic efforts are being made at the state level to collect a large amount of metadata. They are accumulating, but it is not yet clear how they will be used. If automation tools are installed on the basis of this metadata, including estimated cost, then it is possible to significantly facilitate work with routine tasks, while leaving creative expert work to specialists,” said Maxim Shibnev.

He recalled that currently departments of one enterprise cannot exchange information in the information system due to the lack of uniform requirements and classification, a uniform approach. If the same object in the system is called differently, then nothing can be done automatically, especially if you work separately from designers and testing laboratories. Estimators are now starting to enter the digital circuit, but there are still subcontractors without the appropriate competencies.

“As long as there are gaps in the overall information system, bureaucracy, expenses, and dissatisfaction with technology will multiply. Now, together with the Digitalization and Robotization of the Construction Industry consortium, we are developing an approach for a single bus of interaction between participants in the construction process, which will be based on the regulatory requirements of SMART standards, developed by the Codex consortium. In addition, colleagues from JSC IndigoSoft CT have their own developments in the Project Technical Committee (PTC) 711 “Smart (SMART) Standards”, which can become a link in this interaction bus. It is necessary to ensure universal circulation, exchange and processing of data, manage knowledge, simplify and reduce the cost of access to automation systems. Without comprehensive solutions, it is difficult for individual companies to solve this problem,” said Maxim Shibnev.

Successful automation requires quality data

Vitaly Shchukin, General Director for Development of JSC IndigoSoft CT, believes that RIM is a great idea, it combines the need for material and supplier prices. If this is combined, automation will occur.

“Our company has invested a lot of resources to automate various processes, including interaction with suppliers. But this does not work, because high-quality data is needed. How can a neural network help an estimator? To quickly select a product with an up-to-date price. Correctly built automation is the basis for training a neural network. The task of automation is to organize data. But there is no single standardization methodology yet, and this is a problem that companies are trying to cope with as best they can: they create working catalogs, describing materials at their own discretion. In this regard, they cannot interact with the market, where these products are described differently,” explained Vitaly Shchukin.

Problems in product descriptions include incomplete names, missing characteristics, spelling and punctuation errors, noted Vitaly Teplov, product manager at IndigoSoft CT.

“We offer a standard – a unique record according to a template with a set of pricing characteristics. This allows you to get a specific product at current prices in automatic mode by pressing one button, save time on checks and form a high-quality library of materials. It turns out to be an ideal life cycle: the designer adds this standard at the beginning of the design, the estimator selects what is needed, and the buyer knows exactly what he needs to purchase. The catalog is constantly updated,” Vitaly Teplov said.

Nikolay Samopal, Deputy General Director for Development at ZAO WizardSOFT, used specific examples to talk about options for automating the receipt of a statement and an estimate based on it, and passing a state examination.

SPbGASU is ready to provide the necessary personnel

Victoria Vinogradova

Vice-Rector of SPbGASU for Continuing Education Victoria Vinogradova noted that the mass transition to RIM is complicated by changes in the regulatory framework, the need to use information modeling and obtain additional professional competencies.

“Our university trains personnel capable of solving issues related to pricing in the construction industry. The university development program for 2023-2032 meets the specified vectors. It includes, among other things, an ecosystem approach to the implementation of educational activities, digital transformation of curricula, the formation of digital and professional competencies of graduates, an individual educational trajectory, and a flexible learning system. 108 basic educational programs are being implemented in 14 large groups of specialties and areas of training. They have state accreditation, most of them also have professional and public accreditation. Most curricula include the discipline “Estimating in Construction,” the vice-rector said.

According to Victoria Vinogradova, more than 70 percent of graduates find employment in the industry, and the university aims to eliminate the gap between the requirements of educational programs and the needs of the labor market. The expert council at the educational and methodological council of SPbGASU, which includes both graduates and representatives of the real sector of the economy, helps with this. The vice-rector named the practice of targeted training, project-based training, and the implementation of corporate and network programs, within the framework of which the educational organization combines its resources with the employer, as a good way to interact with employers.

“We work within the framework of the concept of continuous education, where the industrial partner is considered as the customer, and the educational organization is considered as the performer. Moreover, this is possible already at the initial stages – in career guidance work in schools and colleges. As part of continuous education and taking into account the digital transformation, we are implementing a number of projects related to information modeling technologies. In 13 schools in St. Petersburg and one school in Yekaterinburg, we are implementing TIM classes, holding a TIM elective for colleges. We attract industrial partners to work with students as part of the TIM championship.

A unique story – complex TIM diploma projects. Students of different specialties, including estimators, jointly complete a diploma project. In addition, the university is conducting scientific research on the formation of a methodology for determining the estimated cost, taking into account the use of digital information models.

Today, any specialist understands that in the course of their professional activity they need to acquire additional competencies. Therefore, we implement additional education. In the field of economics and management, we currently have six additional retraining programs and several advanced training programs. Among the latter is a program that examines RIM issues.

I would like to thank all the conference participants. I am sure that our discussion will significantly help in resolving issues related to the transition to this method,” concluded Victoria Vinogradova.

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

MIL OSI Russia News –

February 28, 2025
MIL-OSI Africa: African Development Bank, Pandemic Fund sign agreement to leverage resources for pandemic preparedness

Source: Africa Press Organisation – English (2) – Report:

ABIDJAN, Ivory Coast, February 28, 2025/APO Group/ —

The African Development Bank (www.AfDB.org) Group has signed an agreement to become an implementing entity of the Pandemic Fund (https://apo-opa.co/4h0TQu3). This enables the Bank to coordinate financing of the Fund’s approved projects in Africa, as well as to participate in a call for proposals for financing investments scheduled to launch next month.

The financial procedures agreement, signed in January with the World Bank Group (the International Bank for Reconstruction and Development acted as a trustee for the Pandemic Fund), qualifies the African Development Bank to participate in a share of $500 million in Fund Secretariat financing for proposals for pandemic-related programs, projects and policies, with a focus on low and middle-income countries.

The Pandemic Fund is a partnership among donor countries, co-investors, foundations and civil society organizations hosted by the World Bank. The World Health Organization acts as the technical lead. The Fund assists countries and regions to strengthen their health systems and increase their investments, enabling them to boost pandemic prevention, preparedness and response capacities.

“There is growing demand from African countries for support to overcome gaps in national health infrastructure exposed by the Covid-19 pandemic and other health crises. As a Pandemic Fund implementing entity, the African Development Bank is capitalizing on our experience combining infrastructure financing with complementary support to improve the quality of life for the people of Africa,” said Dr. Beth Dunford, Bank Vice President for Agriculture, Human and Social Development.

The Fund’s call for proposals will be in phases: the first phase will be open to single and multi-country proposals in March 2025; the second phase launches in June 2025 for regional proposals.

To date, the Pandemic Fund has financed two calls for proposals and approved 47 projects impacting 75 countries in six regions across the globe. On average, 43 percent of its resources have been allocated for countries in sub-Saharan Africa, the region with the highest demand for Pandemic Fund grants. Under the second call for proposals, more than half of the funds awarded went to sub-Saharan Africa.

As an implementing entity, the African Development Bank will also play an oversight role, providing implementation support to beneficiary implementing organisations, as well as providing financial and progress reports to the Fund’s Governing Board.

The Bank’s collaboration with the Pandemic Fund aligns with its Strategy for Quality Health Infrastructure in Africa that seeks to enhance healthcare infrastructure and improve health outcomes in Africa.

In June 2023, the Bank approved approximately $124 million in financing for healthcare access expansion in Morocco. The country’s “Program to Support Inclusive Access to Healthcare Infrastructure” inboosts the country’s specialized healthcare services in women and children’s centers, supports building and equipping hospitals, and equips remote sites with telemedicine and teleconsultation facilities.

Dunford says continued collaborating with the Pandemic Fund can help more Africans experience the benefits of strengthened healthcare systems.

“As Africa’s premier financial institution, we are ready to provide relevant support to beneficiary implementing organisations, the Bank’s regional member countries, and regional economic communities in the Pandemic Fund’s third call for proposals. The Bank will leverage resources from the Fund, alongside our funding instruments, for bigger and better results,” she added.

The Pandemic Fund was established in September 2022 with the Bank participating as an observer and formally announced two months later at the Group of 20 (G20) meetings in Bali, Indonesia.

MIL OSI Africa –

February 28, 2025
MIL-OSI United Nations: 28 February 2025 Joint News Release New WHO and ITU standard aims to prevent hearing loss among gamers
Source: World Health Organisation

“Everyone can take steps today to ensure good hearing health throughout their life,” said Dr Jérôme Salomon, WHO Assistant Director-General, Universal Health Coverage, Communicable and Noncommunicable Diseases. “The WHO/ITU safe listening standard supports governments, manufacturers, civil society, and other stakeholders to foster safe listening environments, so that people of all ages can protect their ears and hearing, and even when playing video games, do not risk hearing loss.”

Video gameplay and esports are rapidly becoming one of the largest entertainment industries worldwide. About 3 billion people play video games on devices such as personal computers, video game consoles, and mobile phones, yet most devices and games lack safe listening features to protect users from harmful noise. However, gamers risk permanent hearing loss from prolonged exposure to loud sounds while gaming or listening to music. Children are particularly vulnerable due to their lower sound tolerance and growing interest in gaming.

Through the provision of information, warnings and safe listening features, the new standard aims to inform video game players of the risk to hearing loss from loud video gameplay activities and raise awareness about how they can practice safe listening.

“As video gaming and esports continue to grow and gamers use a wider array of devices to access their content, safe listening standards are vital to help protect the hearing of users, especially children, from sounds which could damage their hearing,” said Seizo Onoe, Director, Telecommunication Standardization Bureau, International Telecommunication Union. “Creating effective technical standards requires collaboration which leverages each other’s strengths. We are grateful to our partners at WHO for their insight and experience advancing safe listening, and are pleased to launch this update on World Hearing Day.”

Standards protect hearing for all types of video game players

The WHO-ITU Global standard on safe listening for video gameplay and esports is designed to protect hearing for all types of video game players, across a wide range of gameplay scenarios and equipment. The standard provides separate guidelines for video gameplay devices (video game consoles, handheld or mobile devices and personal computers, headphones and headsets), and video game software.

For video gameplay devices, the standard recommends:
- Sound allowance tracking to measure the player’s sound exposure.
- Safe listening messages that provide players with information on sound usage, including predictions on when their sound limit will be reached.
- A user-friendly volume control system that can be easily adjusted.
- A “headphone safety mode” that automatically adjusts the volume when a player changes between headphones and loudspeakers.
For video gameplay software titles, the standard recommends:
- Safe listening warnings and messages for players about the risk of hearing loss from loud sounds and prolonged exposure during gameplay activities.
- Independent volume controls for different sound categories, allowing players to adjust levels and mute various sounds within the game.
- Adapting the soundtrack, genre and sound design of each game with safe listening features
- A “headphone safety mode” within the software that is capable of detecting a switch of audio output between headphones and speakers and automatically reduces the volume.
The new standard was developed under WHO’s Make Listening Safe initiative which seeks to improve listening practices especially among young people, drawing on the latest evidence and consultations with a range of stakeholders including experts from WHO, government, industry, consumers, and civil society. 

Notes to editors

About the World Health Organization

Dedicated to the health and well-being of all people and guided by science, the World Health Organization leads and champions global efforts to give everyone, everywhere, an equal chance at a safe and healthy life. We are the UN agency for health that connects nations, partners and people on the front lines in 150+ locations – leading the world’s response to health emergencies, preventing disease, addressing the root causes of health issues and expanding access to medicines and health care. Our mission is to promote health, keep the world safe and serve the vulnerable.

About the International Telecommunication Union

The International Telecommunication Union (ITU) is the United Nations specialized agency for information and communication technologies (ICTs), driving innovation in ICTs together with 194 Member States and a membership of over 1,000 companies, universities, and international and regional organizations. Established in 1865, it is the intergovernmental body responsible for coordinating the shared global use of the radio spectrum, promoting international cooperation in assigning satellite orbits, improving communication infrastructure in the developing world, and establishing the worldwide standards that foster seamless interconnection of a vast range of communications systems. From broadband networks to cutting-edge wireless technologies, aeronautical and maritime navigation, radio astronomy, oceanographic and satellite-based earth monitoring as well as converging fixed-mobile phone, Internet and broadcasting technologies, ITU is committed to connecting the world. Learn more: www.itu.int

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MIL OSI United Nations News –
February 28, 2025
MIL-OSI: MWC 2025: Innovations to increase engagement and efficiency in telecom business

Source: GlobeNewswire (MIL-OSI)

MWC 2025: Innovations to increase engagement and efficiency in telecom business

In the highly competitive telecom and service provider markets worldwide, companies face equally complex challenges: attracting new customers, retaining existing ones, and increasing their engagement. Innovative solutions such as gamification and reward systems, are becoming powerful tools to achieve these goals, allowing companies not only to maintain customer interest but also to significantly improve their loyalty. In this context, at MWC 2025 in Barcelona, QazCode will present its solutions designed to help overcome these challenges across different markets.

Gamification as an easy way to increase loyalty

The global gamification market is growing rapidly, from $9.1 billion in 2020 to a projected $30.7 billion in 2025. Already, 70% of global Global 2000 companies are using game elements to engage customers. In addition, data shows that products with thoughtful interaction design retain customers three times better than those using basic gamification.

Gamification can increase user engagement by 25% or more and build the habit of using services regularly, which also helps to reduce customer churn and increase customer loyalty. As a result, companies can increase profitability and improve their position in competitive markets.

Real case study: how gamification helps businesses grow

On the image: Gamification and reward systems for users

QazCode, one of the leaders in developing solutions for the telecom and IT sectors, has demonstrated successful examples of gamification implementation in CIS countries. For example, in Kazakhstan, the introduction of gamification in the “Janymda” superapp (formerly “My Beeline”) made games the second most popular domain after telecom services, and every fifth user became an active gamer. Gamification not only helps attract and retain users but also positively influences their perception of the brand, driving both direct and indirect revenue growth. It is important to note that user retention among those who actively engage with games and rewards is 25% higher than among those who do not use these features.

To make the games engaging and profitable, QazCode established its own game development team, which created its own gaming platform, portfolio, and services. However, in other markets such as Ukraine and Kyrgyzstan, companies had to tailor their offerings, including games, to better suit local cultural differences, user behaviour, and market trends.

Another opportunity that gamification offers businesses is the rewards system. The decline in conversion rates of traditional communication channels, alongside the growing product portfolio of service providers, necessitates the search for new, effective methods to raise awareness among the audience about products and services, as well as attract and retain customers.

By completing various tasks, users can strengthen their emotional connection with the brand, earning bonuses or achievements. For example, in the case of the “Janymda” superapp in Kazakhstan, the rewards system helped organically boost user engagement and increased revenue per user by 7%, directly impacting the company’s financial performance and customer satisfaction.

“Our experience working with various regions of the CIS has given us a clear understanding of how important it is to consider the cultural and economic characteristics of users when implementing gamification and reward systems. We are confident that our solutions can be adapted to meet the needs and requirements of other markets. For example, more complex user interaction systems may be in demand in Western markets, while in the Middle East, the focus may be on specific values and habits. We are ready to offer flexible solutions that can meet the needs of clients in any market,” commented Alexey Sharavar, CEO of QazCode”, – commented Oleksii Sharavar, CEO at QazCode.

The company has successful experience working in Central Asia, Europe, and the Middle East, and continues to actively expand its presence in international markets. Participation in MWC 2025 in Barcelona (stand 6F12) will provide a unique opportunity for knowledge exchange and discussions on advanced technologies in the field of gamification and reward systems.

About QazCode
QazCode is an IT company and exclusive digital partner of Beeline Kazakhstan. The company is part of the VEON group listed on the NASDAQ and Euronext stock exchanges.
The company has over 750 employees with 8 years of experience in software development for the telecom and IT markets with a deep understanding of business and technology. The solution portfolio includes the development of private Large Language Models (LLM) with a focus on data security, game development, and reward systems, process optimization through Agile methodologies, full-cycle implementation of Business Support Systems (BSS), and IT outsourcing for effective product development, team expansion, and project management to help accelerate time to market.

About VEON
VEON is a digital operator providing converged communications and digital services to nearly 160 million customers. Operating in six countries with over 7% of the world’s population – Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan – VEON transforms people’s lives through technology services that empower people and drive economic growth. VEON is headquartered in Dubai.

The MIL Network –

February 28, 2025
MIL-OSI: Stars Align for Bybit’s Crypto Zodiac League Trading Competition with 1 Million USDT in Prizes
Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, Feb. 28, 2025 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is transforming solitary trading into a cosmic team sport in its most dramatic trading competition yet. In the Crypto Zodiac League event, traders will get to unite under their star signs to compete for a share of a 1,000,000 USDT prize pool.

This celestial-themed event reinvents traditional trading battles with a touch of astrological magic, grouping participants into 12 zodiac-based squads. Whether the user is a bold Aries or a strategic Capricorn, their birth date determines their team allocation. Each team will then race for top spots in the leaderboards for a chance to win from a grand prize pool of a million USDT.

Event Timeline:

From now to Mar. 21, 2025, eligible users may sign up for the event where their designated squad is written in the stars.

The race for crypto trading excellence features various achievement categories. During the competition period from Mar. 3 to Mar. 28, 2025, individual traders and squads may compete on four leaderboards, ranked respectively by:
1. Individual PnL% during the competition period with a 300,000 USDT prize pool
2. Squad trading volume during the competition period with a 300,000 USDT prize pool
3. Individual Spot trading volume during the competition period with a 100,000 USDT prize pool
4. Daily individual trading volume in a total of 25 days, with 5,000 USDT up for grabs each day
To top it off, eligible new users who sign up during the event period can receive a 5 USDT airdrop on a first-come, first-served basis. Additionally, all eligible users have the opportunity to earn USDT and MNT through mystery boxes by completing designated tasks.

Special Livestream:

To kick off this stellar event, Bybit will host a livestream on Mar. 4, 2025 at 8AM UTC, featuring expert insights and $500 in Red Packet giveaways. The session will shed light on rules and mechanisms, inspiration for strategies, and sound the battle hymns for the limited-time competition. Speakers include Bybit’s Shadie Berro, Head of Social Media, Stella Yuan, Global Campaigns Specialist, and Jack Zhou, Global Marketing Operations Specialist.

“We’re bringing a new dimension to competitive trading by combining the thrill of trading with the playful element of luck in astrology,” said Joan Han, Sales and Marketing Director at Bybit. “If a trader ever wonders if they were predestined to be winners, this is the perfect opportunity to find out while honing their trading skills,” she said.

For more information about joining the Crypto Zodiac League and terms and conditions, users may visit: Crypto Zodiac League: Squad Up for the Stars

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

Contact

Head of PR
Tony Au
Bybit
tony.au@bybit.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c82077e3-6669-440f-b3c0-2b4420514fe4

The MIL Network –
February 28, 2025
MIL-OSI: BTCC Exchange Unveils $1 Million “Trade to Win” Campaign Featuring Tesla Cybertruck for TOKEN2049 Dubai

Source: GlobeNewswire (MIL-OSI)

VILNIUS, Lithuania, Feb. 28, 2025 (GLOBE NEWSWIRE) — BTCC, a global leader in crypto trading, is proud to announce its participation as a gold sponsor at TOKEN2049 Dubai, the premier crypto industry event from April 30 to May 1, 2025. To celebrate, BTCC is launching a Trade to Win campaign with a $1 million prize pool, including the flagship prize of a Tesla Cybertruck. Users are invited to participate for exciting rewards and a chance to meet the team at the TOKEN2049 venue.

TOKEN2049 is set to attract over 15,000 attendees from 4,000 companies worldwide in 2025. This two-day event at Madinat Jumeirah will feature insightful conferences led by industry leaders and influential voices, while also offering a unique experience with activities such as massages, shisha lounges, and live music.

Participants can visit BTCC at booth no. P51, where its team and influencers will engage with attendees, share insights, and showcase their latest product offerings. Attendees will also have the opportunity to meet their official mascot, Nakamon, inspired by the legendary Satoshi Nakamoto, presented in a vibrant Arabian theme.

BTCC will host two exclusive events for crypto influencers. The Dubai Safari Day Tour on April 29 will feature dune bashing, sandboarding, and camel rides. Following that, the KOL Yacht Party on May 2 will offer live DJ music and gourmet Japanese cuisine by chef Nishimura Yukou aboard a luxurious yacht with stunning views of the Dubai skyline.

Regular users are encouraged to participate in the Trade to Win campaign, where they can trade over 300 future pairs to win incredible prizes from the $1 million prize pool, including a Tesla Cybertruck, a Ducati motorcycle, and a luxurious seven-star hotel stay in Dubai. Top performers will also have the opportunity to attend TOKEN2049 and meet the BTCC team in person.

BTCC has actively participated in global events, including Paris Blockchain Week in 2024, to strengthen connections within the crypto community. “TOKEN2049 is more than just an event; it’s a platform for meaningful dialogue and collaboration,” said Aaryn Ling, Head of Branding at BTCC. “Our goal is to engage with the community and KOLs, fostering insightful discussions that drive our exchange forward,” Aaryn added.

For more information about the Trade to Win campaign, please visit BTCC’s website.

About BTCC Exchange

BTCC is a leading cryptocurrency exchange offering a secure and user-friendly platform for traders globally. Since its launch in 2011, the exchange has maintained a flawless security record with zero incidents. A standout feature of the platform is copy trading which enables users to easily follow the strategies of top traders and replicate their success.

Official website: https://www.btcc.com/en-US

X: https://x.com/BTCCexchange

Contact: press@btcc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/567092fe-dbec-4e7c-8da5-f6d045e6becb

The MIL Network –

February 28, 2025
MIL-OSI Europe: Taskforce Drones of the DDPS invites industry to an information event

Source: Switzerland – Department of Defence, Civil Protection and Sport

The Taskforce Drones invites companies to an information event on the topic of small drones on 28 February 2025. The event will focus on information of the Taskforce Drones, insights into potential forms of cooperation with public authorities and export law. The Taskforce Drones aims to be able to develop small and medium-sized drones independently in Switzerland and deploy them in the Armed Forces.

MIL OSI Europe News –

February 28, 2025
MIL-OSI China: Over 300 firms sign up for China’s supply chain expo

Source: People’s Republic of China – State Council News

BEIJING, Feb. 28 — More than 300 domestic and foreign companies have signed up for the third China International Supply Chain Expo, China’s trade promotion body announced on Friday.

The expo kicked off its global roadshows in January and has so far hosted promotional events and roadshows in 12 countries and regions, including Vietnam, Switzerland, South Africa and the United Arab Emirates, Yang Fan, spokesperson with the China Council for the Promotion of International Trade (CCPIT), told a press conference.

Foreign enterprises and institutions have demonstrated great enthusiasm for participating in and visiting the expo, Yang said, anticipating an increase in attendance this year, particularly from overseas groups and businesses, for on-site visits and exchanges.

The expo recorded more than 200,000 visits last year, CCPIT data showed.

This year’s expo, slated to be held in Beijing from July 16 to 20, will cover a total exhibition area of 120,000 square meters.

As the world’s first national-level exhibition focusing on supply chains, the China International Supply Chain Expo is an internationally shared public product. First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains, according to the CCPIT.

MIL OSI China News –

February 28, 2025
MIL-OSI Video: Resurgent Hazard of Nuclear Weapons | World Economic Forum Annual Meeting 2025

Source: World Economic Forum (video statements)

Nuclear threats are ever more present, with growing posturing from major powers and the proliferation of weapons.

Amid rapid shifts in national nuclear programmes, how will the world confront these challenges and is there an opportunity for renewed commitments to non-proliferation?

Speakers: Kathleen Kingsbury, Edgars Rinkēvičs, Sir John Chipman, Kimberly Budil

The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/
X ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#Davos2025 #WorldEconomicForum #wef25

https://www.youtube.com/watch?v=_OUFKFpk6HE

MIL OSI Video –

February 28, 2025
MIL-OSI Video: UK Lords debates the Post Office Horizon compensation scheme

Source: United Kingdom UK House of Lords (video statements)

Find out more and see who took part https://www.parliament.uk/business/news/2025/february/post-office-horizon-compensation-set-for-lords-debate/

Catch-up on House of Lords business:

Watch live events: https://parliamentlive.tv/Lords
Read the latest news: https://www.parliament.uk/lords/

Stay up to date with the House of Lords on social media:

• X: https://twitter.com/UKHouseofLords
• Bluesky: https://bsky.app/profile/houseoflords.parliament.uk
• Instagram: https://www.instagram.com/UKHouseofLords/
• Facebook: https://www.facebook.com/UKHouseofLords
• Flickr: https://flickr.com/photos/ukhouseoflords/albums
• LinkedIn: https://www.linkedin.com/company/the-house-of-lords
• Threads: https://www.threads.net/@UKHouseOfLords

#HouseOfLords #UKParliament

https://www.youtube.com/watch?v=EV4HUJhK4Js

MIL OSI Video –

February 28, 2025

MIL-OSI Economics: Swap Auction, February 28, 2025: Results

Source: Reserve Bank of India

Today, the Reserve Bank conducted a USD/INR Buy Sell swap auction for a notified amount of USD 10 billion as announced vide press release dated February 21, 2025.

I. SUMMARY RESULTS

Aggregate amount notified (USD Billion)	10.00
Total amount bid by participants (USD Billion)	16.23
Total amount accepted (USD Billion)	10.06
Cut-off premium (in paisa)	655.10

II. OTHER DETAILS

USD/INR Buy Sell Swap auction
No. of bids received	244
Bid to cover ratio	1.62
No. of bids accepted	161
Partial allotment as % of competitive bids at cut-off premium	NA
Weighted Average Premium of accepted bids (in paisa)	673.29
First leg settlement date	March 04, 2025
Second leg settlement date	March 06, 2028

Ajit Prasad
Deputy General Manager
(Communications)

Press Release: 2024-2025/2274

MIL OSI Economics –

February 28, 2025

MIL-OSI Video: When Climate Redefines Health | World Economic Forum Annual Meeting 2025

Source: World Economic Forum (video statements)

Research indicates that 3.6 billion people live in areas highly susceptible to climate change and, by 2050, the climate crisis could cause $1.1 trillion in extra costs to healthcare systems around the globe.

How is the resilience of key sectors to climate change being measured and how are key actors responding to safeguard public health?

This session is directly linked to the Climate and Health Initiative at the Centre for Health and Healthcare and the Centre for Nature and Climate of the World Economic Forum.

Speakers: John Steenhuisen, Stéphane Bancel, John-Arne Røttingen, Liza Korsten, Shyam Bishen, David Knibbe, Celeste Saulo

The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/
X ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#Davos2025 #WorldEconomicForum #wef25

https://www.youtube.com/watch?v=mBK-Ul_HIlc

MIL OSI Video –

February 28, 2025
MIL-OSI Economics: Asian Development Blog: Hold the Salt: Harnessing Desalination for Water Security

Source: Asia Development Bank

Desalination offers a viable solution to water scarcity in the Pacific, but its success depends on careful planning, energy efficiency, and environmental considerations. Integrating renewable energy, engaging communities, and ensuring sustainable brine disposal are key to long-term viability.

The Pacific region is grappling with increasing water scarcity, driven largely by the impacts of climate change. Rising sea levels, prolonged droughts, and changing rainfall patterns have strained freshwater resources, leaving many coastal communities vulnerable.

As traditional water supplies become less reliable and populations continue to grow, the need for innovative and climate-resilient solutions has never been more urgent. However, implementing alternative technologies like desalination requires careful consideration to ensure its effectiveness, sustainability, and community acceptance.

Desalination involves the removal of salts and impurities from brackish water and seawater sources to produce potable water. However, removing salt from water is an energy intensive treatment process. The most widely used desalination method is reverse osmosis, as it has the lowest energy usage of the available and mature desalination technologies.

Reverse osmosis uses semi-permeable membranes and hydraulic pressure to filter out contaminants including salt. While this technology offers significant advantages in providing a reliable water source, it also presents challenges, especially in remote areas and emergency contexts where resources and infrastructure may be limited.

Before deploying desalination technology, it is crucial to assess the specific site conditions, including the quality of the salty water available for treatment. The salinity level, temperature, and presence of contaminants such as sediments or organic materials can significantly impact the performance of the desalination system.

In emergency contexts, the water intake may be compromised due to increased sediment loads or bacterial contamination from natural disasters. A robust pre-treatment process is essential to protect reverse osmosis membranes and maintain operational efficiency.

Pre-treatment systems should be designed to remove larger particles, suspended solids, and biological contaminants, ensuring that only water suitable for the membrane elements enters the desalination unit.

Energy consumption is also a critical factor when considering desalination technologies. Reverse osmosis systems can be energy-intensive, requiring between three and five kilowatt-hours per 1,000 litres of water produced.

In remote settings, reliable energy sources may be challenging to secure. It is essential to evaluate available energy options before implementation. Integrating renewable energy sources, such as solar panels or wind turbines, can help mitigate energy costs and reduce the carbon footprint of desalination systems, particularly in remote settings.

Portable desalination units are largely powered by generators during emergencies, but careful planning for fuel supply and maintenance is necessary to ensure continuous operation.

Desalination technology has the potential to play a pivotal role in addressing water scarcity challenges faced by remote and coastal communities, especially during emergencies.

Effective operation and maintenance are vital for the long-term success of desalination projects. In remote and emergency settings, local capacity may be limited, making it crucial to establish training programs for technicians. Investing in local training not only builds community skills but also fosters ownership and sustainability in water management.

A comprehensive maintenance plan should include routine checks of the desalination unit, regular cleaning of pre-treatment filters, and periodic replacement of reverse osmosis membranes.

Ensuring that local operators are equipped with the knowledge and tools needed for maintenance will enhance the reliability and efficiency of desalination systems. This is especially important for emergency units that may be intermittently used and stored for long periods between use.

The environmental implications of desalination must be carefully considered, particularly concerning brine disposal. The concentrated saline byproduct generated during the desalination process can have negative effects on marine ecosystems if not managed properly.

To mitigate these impacts, brine should be dispersed across a wide area rather than discharged in a single location. Additionally, a lower salinity, higher volume brine can be produced by operating the reverse osmosis unit at a low recovery rate.

This practice helps prevent localized salinity increases that can harm marine life. Engaging with environmental experts and local authorities to develop responsible brine management strategies is essential for sustainable desalination practices.

Community involvement is paramount when implementing desalination technology. Engaging local populations in discussions about the technology, its benefits, and potential challenges fosters a sense of ownership and acceptance.

Providing education on water management and desalination processes will help demystify the technology and encourage responsible use of water resources. Building trust within the community is crucial for the success of desalination projects.

Collaboration with local stakeholders, including government agencies and non-governmental organizations, can help address concerns and ensure that the technology aligns with community needs.

The initial investment for desalination technology can be significant, and ongoing operational costs must be evaluated to ensure long-term sustainability. It is essential to conduct a cost-benefit analysis that considers factors such as energy consumption, maintenance requirements, and the expected lifespan of the equipment.

Exploring funding opportunities from government programs, international organizations, and public-private partnerships can help offset the financial burden. Engaging with development partners can also provide technical assistance and capacity-building support to ensure the successful implementation of desalination systems.

Desalination technology has the potential to play a pivotal role in addressing water scarcity challenges faced by remote and coastal communities, especially during emergencies.

However, careful consideration of site conditions, energy requirements, operational needs, environmental impacts, community engagement, and funding opportunities are essential for effective implementation.

As we move toward a future that is increasingly affected by climate change, harnessing the power of desalination with thoughtful planning and community involvement will be critical in building water resilience across the Pacific. By investing in these technologies and empowering local communities, we can create sustainable solutions that secure safe drinking water for generations to come.

MIL OSI Economics –

February 28, 2025
MIL-OSI: MEXC Officially Lists EUR on Convert with Zero Fees for Fast and Effortless Trading
Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Feb. 28, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency trading platform, has officially listed EUR on Convert with zero fees, providing users with a seamless and cost-effective way to trade. This listing coincides with Point Frenzy Season, running from February 28 to March 14, offering exciting airdrop rewards and exclusive events.

MEXC’s introduction of EUR to Convert reinforces its commitment to lowering trading costs and enhancing market accessibility. With zero-fee EUR deposits and competitive trading conditions, users can now enjoy greater flexibility and efficiency when navigating the crypto market.

To celebrate the listing of EUR on Convert, MEXC is introducing two exciting events from February 28, 2025, to March 14, 2025, offering users a chance to win exclusive rewards and event tickets.

Event 1: Convert & Win Airdrops
- Users can convert between EUR and USDT for a chance to win up to 100 USDT in airdrops.
Event 2: Points Competition
- Users can accumulate points through Futures trading and compete for a 6,000 USDT prize pool, which includes party funds and exclusive offline event tickets.
MEXC continues to enhance users’ trading experience by providing deep liquidity, fast execution, and some of the lowest trading fees in the industry. With advanced security measures and a dedicated trading insurance fund, MEXC remains focused on creating a secure, transparent, and user-friendly trading environment.

As part of this initiative, MEXC is also offering zero fees on EUR deposits via OTC and a special Zero-Fee Event on EUR Spot trading pairs, where users can enjoy 0% Maker and Taker fees starting February 26, 2025.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 32 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

Contact:
Lucia Hu
PR Manager
lucia.hu@mexc.com

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea71c9f4-5e45-4821-8c8f-50910f8edf6a

The MIL Network –
February 28, 2025
MIL-OSI: Submer Expands Its Capabilities with New Business Units in Datacenter Design & AIaaS

Source: GlobeNewswire (MIL-OSI)

BARCELONA, Spain, Feb. 28, 2025 (GLOBE NEWSWIRE) — Submer, one of the key leaders in the datacenter liquid cooling market, is expanding its mission to revolutionize sustainable infrastructure by entering into datacenter design and construction and datacenter services for AI factories.

To drive this initiative, Submer has launched two new business units to power the future of AI and sustainable digital infrastructure:

Datacenter Design & Construction: Submer is leveraging its expertise to design and build next-generation liquid-cooled datacenters, enabling seamless transitions from air to liquid cooling (Direct Liquid Cooling and Immersion Cooling). These sustainable, high-density facilities will support AI workloads efficiently while paving the way for future-proof infrastructure.

Datacenter Operations & AIaaS: As AI adoption accelerates, Submer is launching a datacenter operator and AI-as-a-Service (AIaaS) business unit, providing vertically integrated infrastructure—from chip to AI applications—for enterprises seeking to scale efficiently and sustainably.

Submer’s core cooling technologies business unit will remain unchanged, continuing its focus on driving the adoption of liquid cooling and accelerating AI-ready infrastructure. With these new initiatives, Submer is strengthening its position as the leader in liquid-cooled datacenter innovation.

Hundreds of Megawatts planned Across Europe, Starting with Barcelona

To demonstrate these new capabilities, Submer is already developing its first owned and operated state-of-the-art 56MW datacenter in Barcelona. This facility will serve as a first phase of more deployments across Europe. It will showcase liquid cooling innovation, integrating a vertically optimized ecosystem that supports 150kW+ per rack or tank.

The Barcelona facility will set new energy efficiency and sustainability benchmarks, leveraging liquid cooling technologies to drastically reduce energy consumption, zero water usage, and operational costs. By enabling higher compute densities with superior thermal management, it paves the way for a new era of AI-enabled, carbon-conscious datacenters that are more efficient, scalable, and environmentally responsible.

A Legacy of Innovation

Founded in 2015 by Daniel Pope and Pol Valls, Submer’s mission is to build Datacenters That Make Sense, with a strong focus on sustainability, efficiency, and a smarter usage of resources to make a planet-friendly datacenter industry landscape and lead the way to a greener future.

Submer recently secured a new funding round, backed by leading impact VC funds such as M&G Catalyst, Planet First Partners, Norrsken, and Mundi Ventures. Before this, Patrick Smets joined as CEO to drive expansion and accelerate business execution. Submer has expanded its teams and broadened its management by bringing on industry experts with deep experience in data centers, AI, and sustainable infrastructure. With this team in place, Submer is confident and well-positioned to drive the next wave of growth and innovation.

Before founding Submer, Daniel Pope was operating datacenters as early as the early 2000s and has been at the forefront of industry innovation for over 25 years. With deep expertise in managed datacenter infrastructure and cloud/AI software solutions, he will lead this new strategic initiative, driving the next generation of sustainable, AI-ready infrastructure.

“Our mission is to ensure businesses can scale AI workloads efficiently while reducing environmental impact. The launch of our first 56MW facility in Barcelona is just the beginning—Submer is here to redefine how the world powers AI and build Datacenters That Make Sense,” said Daniel Pope, Submer’s Co-Founder.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/33f797a3-3fc8-4ade-88b9-b5c27a847d18

The MIL Network –

February 28, 2025
MIL-OSI Russia: With the support of Rosneft, a professional skills championship was held in Bashkiria

Translartion. Region: Russians Fedetion –

Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

With the support of ANK Bashneft (part of Rosneft), the regional stage of the All-Russian Championship in Professional Skills “Professionals – 2025” was held in Bashkortostan. The competition was held at more than 40 sites of regional colleges, with over 1,500 students taking part.

The intensive program of the championship, which lasted for 3 weeks, included more than 200 competencies, including: oil and gas production, laboratory chemical analysis, oil and gas processing, electrical installation, chemical technology operator and others. 24 winners in the oil and gas field were awarded certificates and memorable gifts from Bashneft.

As part of the championship’s business program, Bashneft specialists took part in a plenary session and organized a meeting with students from specialized colleges, where they discussed career prospects in the Company and the possibility of continuing their education at a partner university.

Rosneft aims to ensure a constant flow of professionally trained young specialists from among the best graduates. The company supports schools, colleges, technical schools and universities in the regions of production activity and cooperates with 203 educational partner organizations in training qualified specialists in the oil industry and forming an external personnel reserve.

In 2024, almost 2,000 university and college students completed internships at Bashneft, of which more than 1,000 received employment and payment for the internship period. About 170 final-year students combine their studies with permanent employment at Bashneft enterprises thanks to their transfer to individual training plans.

Reference:

The All-Russian championship movement “Professionals” is aimed at increasing the prestige of blue-collar jobs, attracting young people to the production sectors of the economy and improving qualification standards for blue-collar jobs and specialties.

ANK Bashneft is one of the oldest enterprises in the country’s oil and gas industry, operating in the extraction and processing of oil and gas. The company’s key assets are located in the Republic of Bashkortostan. Oil and gas exploration and production are also carried out in the Khanty-Mansiysk Autonomous Okrug – Yugra, Nenets Autonomous Okrug, Orenburg Region, Perm Krai and the Republic of Tatarstan.

Department of Information and Advertising of PJSC NK Rosneft February 28, 2025

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

MIL OSI Russia News –

February 28, 2025
MIL-OSI Economics: BSTDB Strengthens Partnership with Hayat Kimya in Türkiye

Source: Black Sea Trade and Development Bank

Press Release | 17-Dec-2024

New Financing to Boost Capacity and Energy Efficiency

Hayat Kimya Sanayi A.Ş., a leading Turkish manufacturer of detergents, hygiene products, and tissue paper, will advance its investment plans with the support of a €25 million loan from the Black Sea Trade and Development Bank (BSTDB). The agreement marks an important milestone in a partnership that began nine years ago.

The BSTDB financing will back Hayat Kimya’s investment program, focusing on expanding production capacity, introducing new product lines, and enhancing energy efficiency. This initiative is also expected to bolster regional trade, as a significant portion of the company’s exports targets BSTDB member countries.

Commenting on the agreement, BSTDB President Dr. Serhat Köksal said: “We are pleased to support Hayat Kimya, a leading manufacturer and major employer in Türkiye, as it pursues its ambitious growth plans. Our new financing underlines BSTDB’s commitment to sustainable industrial development and regional integration. By prioritizing energy efficiency and environmentally conscious practices, Hayat Kimya’s investment programme aligns with our mission to support projects that drive long-term economic and environmental benefits. Our support will help modernize Türkiye’s industrial capacity and strengthen trade ties within the Black Sea region, advancing shared prosperity and sustainable development.”

“As part of our collaboration with the Black Sea Trade and Development Bank, we will increase the production capacity of our home care category at our facilities in Mersin and Kocaeli, Turkey. Today, at least one Hayat product can be found in 9 out of 10 households in Turkey. Globally, our export penetration ranges between 60% and 80% across more than 100 countries. With this new investment in the home care category, we aim to further strengthen our leadership, particularly in the detergent product segment.” said Ayla Hacıahmetoğlu, the Global Treasury Director of Hayat Kimya.

Founded in 1937, Hayat Kimya is a leading global manufacturer and exporter of detergents, hygiene products, and tissue paper. The company operates 26 state-of-the-art production facilities across 8 countries, employing over 10,000 people. All products are produced in a fully automated, hands-free environment, meticulously designed and managed in compliance with the ISO 9001 Quality Assurance System.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

Contact: Haroula Christodoulou

: @BSTDB

MIL OSI Economics –

February 28, 2025
MIL-OSI Economics: BSTDB President’s New Year Message

Source: Black Sea Trade and Development Bank

News | 24-Dec-2024

Dear Shareholders, Partners, Friends, and Colleagues,

As we celebrate the New Year and the 25th anniversary of the Black Sea Trade and Development Bank (BSTDB), we reflect with gratitude on a remarkable journey shaped by resilience, partnership, and shared purpose. Together, we’ve overcome challenges and created opportunities, building a legacy of sustainable growth across the Black Sea region.

Looking ahead to 2025, we are filled with optimism. The completion of our new premises will strengthen our capabilities, enabling us to drive innovation and foster greater prosperity in the region. With your continued trust and collaboration, we are ready to turn bold ambitions into impactful results.

Wishing you and your loved ones a joyful holiday season and a prosperous New Year. Together, let’s make 2025 extraordinary.

Wishing you and your loved ones a joyful holiday season and a prosperous, Happy New Year!

MIL OSI Economics –

February 28, 2025
MIL-OSI Economics: BSTDB, TBC Bank to Boost Local Currency Financing in Georgia

Source: Black Sea Trade and Development Bank

Press Release | 11-Feb-2025

New Partnership to Strengthen SMEs in the Country

The Black Sea Trade and Development Bank (BSTDB) has extended a GEL 135 million local-currency loan to TBC Bank Georgia. The financing will be on-lent to small and medium-sized enterprises (SMEs) to support their investment programmes, working capital needs, and expansion into domestic and international markets, thus enhancing SMEs’ competitiveness and export capacity.

In addition, the funding will boost local-currency financing opportunities for private companies while reducing their dependence on foreign currency borrowings and protecting business owners from direct exposure to exchange rate risk.

“Our new agreement with TBC Bank reinforces our commitment to fostering long-term partnerships while advancing access to local currency financing for Georgian small businesses,” said Dr. Serhat Köksal, BSTDB President. “By boosting lending in Georgian Lari, we aim to support economic growth, create jobs, and strengthen businesses’ ability to succeed in their domestic markets. This initiative also enhances the resilience and competitiveness of Georgia’s banking sector by mitigating currency risks.”

Vakhtang Butskhrikidze, CEO, TBC Bank, commented: “We are delighted to continue and further strengthen our cooperation with BSTDB. This transaction reflects both institutions’ strong commitment to support Georgian MSMEs, which are key contributors to economic growth and job creation in the country. On the back of supporting de-dollarisation of the financial sector, this facility will further strengthen TBC’s position as a leading local currency provider on the market. I would like to thank BSTDB for being a long-standing supporter of TBC and look forward to executing many more successful deals in the future”.

BSTDB has been cooperating with TBC Group since 2003, providing over USD 192 million in revolving trade finance, SME finance, and leasing facilities.

TBC Bank Group PLC (“TBC PLC”) is a public limited company registered in England and Wales and is the parent company of TBC Bank Georgia and TBC Uzbekistan. TBC Bank Georgia, together with its subsidiaries, is the leading financial services group in Georgia, with a total market share of 38.7% of customer loans and 38.4% of customer deposits as of 30 September 2024, according to data published by the National Bank of Georgia. TBC PLC is listed on the London Stock Exchange under the symbol TBCG and is a constituent of the FTSE 250 Index. It is also a member of the FTSE4Good Index Series and the MSCI United Kingdom Small Cap Index.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.

Contact: Haroula Christodoulou

: @BSTDB

MIL OSI Economics –

February 28, 2025

Category: Business

10,000 FPOs Achieved under Government’s Flagship SchemeA Step Towards Atmnirbhar Krishi

Coal Ministry Successfully Hosts Roadshow on Investment Opportunities and Commercial Coal Mine Auctions in MumbaiCoal Minister Reaffirms Government’s Commitment to Mine Safety and Community Welfare

Standards protect hearing for all types of video game players

Notes to editors

Press Release | 17-Dec-2024

News | 24-Dec-2024

Press Release | 11-Feb-2025

10,000 FPOs Achieved under Government’s Flagship Scheme

A Step Towards Atmnirbhar Krishi

Coal Ministry Successfully Hosts Roadshow on Investment Opportunities and Commercial Coal Mine Auctions in Mumbai

Coal Minister Reaffirms Government’s Commitment to Mine Safety and Community Welfare