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Category: Business

  • MIL-OSI Asia-Pac: India-Qatar Joint Business Forum on the sidelines of the visit of His Highness Sheikh Tamim Bin Hamad Al-Thani, The Amir of the State of Qatar to Enhance Economic Cooperation

    Source: Government of India (2)

    Posted On: 17 FEB 2025 6:52PM by PIB Delhi

    India and Qatar are set to strengthen their economic and trade ties with the India-Qatar Joint Business Forum, scheduled for February 18, 2025, in New Delhi.Joint Business Forum will be organized by the Confederation of Indian Industry (CII) in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, which will convene top business leaders, policymakers, and industry stakeholders to explore investment opportunities, technological collaboration, and economic partnerships.

    The event takes place on the sidelines of the visit of H.H. Sheikh Tamim bin Hamad Al Thani, the Amir of Qatar, to India from February 17-18, 2025. The business forum will be graced by H.E. Sheikh Faisal bin Thani bin Faisal Al Thani, Hon’ble Minister of Commerce and Industry, State of Qatar, and Shri Piyush Goyal, Hon’ble Minister of Commerce and Industry, Government of India, who will deliver keynote addresses. The high-level Qatari delegation includes leading enterprises from energy, infrastructure, finance, technology, food security, logistics, advanced manufacturing, and innovation.

    The forum will feature three panel discussions on:

    • Investment as a vehicle to build long – term strategic partnership between India and Qatar
    • Cooperating and leveraging competencies in the fields of logistics, advanced manufacturing and food security
    • Promoting and strengthening cooperation in futuristic areas (AI, innovation, sustainability, etc.)

    These discussions will enable Indian and Qatari businesses to explore joint ventures, foreign direct investment (FDI), technology partnerships, and policy-driven collaborations. Representatives from both governments and leading industry players will contribute in shaping a forward-looking trade and investment framework.

    India and Qatar enjoy a robust economic partnership, with bilateral trade expanding across multiple sectors. Qatari firms have invested in India’s technology, infrastructure, and manufacturing sectors, while Indian companies have established a strong presence in Qatar. The forum will highlight strategic investment opportunities aligned with Make in India, Aatmanirbhar Bharat, and India’s infrastructure growth initiatives. Key areas for investment include logistics, warehousing, ports, airports, railways and highways, semiconductors, food security, tech and innovation, space, biosciences, banking and fintech, smart cities, pharmaceuticals, electric vehicles, and renewable energy. Additionally, the India-Qatar Startup Bridge is fostering innovation-driven partnerships in AI, fintech, and deep tech, strengthening bilateral economic cooperation.

    With India emerging as a global hub for manufacturing, technology, and entrepreneurship, this forum serves as a crucial platform to enhance business-to-business (B2B) and government-to-business (G2B) engagements. It aims to:

    • Deepen industry collaboration between Indian and Qatari businesses.
    • Facilitate foreign direct investment (FDI) and joint ventures.
    • Promote technology transfer and innovation partnerships.
    • Strengthen trade through policy reforms and strategic agreements.

    This forum underscores the shared vision of India and Qatar for long-term economic cooperation, reinforcing their commitment to fostering trade, investment, and innovation across key sectors.

    ***

    Abhishek Dayal /  Abhijith Narayanan

    (Release ID: 2104171) Visitor Counter : 99

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Text of Vice-President’s Address at Indian Institutes of Science Education and Research (IISER), Mohali (Excerpts)

    Source: Government of India

    Posted On: 17 FEB 2025 6:48PM by PIB Delhi

    Good afternoon all of you. If there has been some disruption in your normal activity, because as Vice-President of the country, I take it as my prime obligation to connect with young minds and important institutions. It is from that perspective I solicited this invitation.

    I am grateful that it was accepted. Professor Anil Kumar Tripathi, Director IISER, a man who brings on the table huge experience, commitment, and in his brief address he has revealed the object, the performance and the potential. Professor Renu Vig, Vice-Chancellor, Punjab University, has two distinctions.

    One, she is the first ever woman Vice-Chancellor of the Punjab University, a very prestigious university. I am sure we can applaud her, and, she is the 14th Vice-Chancellor, appointed by a Chancellor, who happens to be the 14th Vice-President of the country, that’s myself. Both of us missed number 13 very narrowly. Professor R.P. Tiwari, Vice-Chancellor, Central University of Punjab. Have you noticed something unique here? There are three Vices. So, Professor Anil Kumar Tripathi can be happy and delighted. Unless he says that prefix of Vice does not mean vice as it is defined in the dictionary, I would not reflect upon myself. But I can assure you, Vice-Chancellor Renu Vig and Vice-Chancellor R.P. Tiwari have no Vices.

    This is a unique Institution and 7 being in number. Having been Governor in the State of West Bengal for three years, I am aware of these Institutions and the seminal role they play in the evolution of the heart. Every institution is defined by the faculty, and I greet members of the faculty who are very distinguished and are futuristic in their outlook, whatever little I have gathered. We as a nation can take pride that we have an unparalleled legacy unknown to other nations. That long, and if we traverse our civilisational journey of 5000 years, we will find Bharat had been glory of the world,epicenter of knowledge and culture. People from all over the world flocked in pursuit of knowledge. That is your motto. What a motto you have picked up. Nalanda, Taxila, people came from all over the world in search of knowledge, shared knowledge and wisdom.

    We at the moment are at a very critical juncture, and I say so with some amount of nostalgia. I got into the seat of governance 35 years ago when I was elected to Parliament (Lok Sabha) and had the good fortune to be a Minister. I know the situation there. The mood of the nation. Our worrisome foreign exchange disturbed Jammu and Kashmir. I saw it all around, and our government didn’t last long, not because of me. And what I see now, 180 degree difference. The nation has an environment of hope and possibility. Our global image is very high.

    Leadership of the Prime Minister is globally acknowledged. And we have traversed against heavy winds. Difficult terrain. From fragile five economies to the world’s largest five economies at the moment. Ahead of those who ruled us for centuries, the Great Britain. It is a matter of time. That we will be marching ahead of Japan and Germany also to be the third largest in about a year or so. Such a jump. When I was elected first in parliament I had no courage to dream. Then that was the time, young boys and girls, where a Member of Parliament felt really an authority because he or she could give 50 gas connections or 50 telephone connections in a year. Imagine where we have come. In the shortest possible time, 550 million people of the country benefited from banking inclusions. They never had that account.

    Over 100 million households have toilets. Cooking gas in every house, electricity in every house, internet in every remote corner, health centres and education centres around, road connectivity, everything is happening. World class infrastructure we are seeing of global benchmark, and therefore, as I said this morning also, no nation in the world has grown as fast in the last 10 years as Bharat. This has created a challenge. A challenge of aspirational youth. They want more. They are entitled to more because they have tasted development. They see it on the ground. They know that per capita internet consumption of India is more than that of US and China taken together, that speaks of our access to technology and adaptability of technology.

    When it comes to direct transfers, a service delivery driven by technology, our direct digital transactions are four times the combined transactions of USA, UK, France and Germany. We are a nation where global entities, International Monetary Fund, World Bank are appreciating us. I recall my days in 1990 as a minister.

    Our gold had to be shipped in an aeroplane to be placed to two banks in Switzerland because our foreign exchange was around 1 billion US dollars. Now it is 700 times. And not a cause of concern, and therefore, the challenge is how do we meet aspirations of our young minds and my message to young minds. Seriously, look around, the opportunity basket which for you is getting larger and larger by the day. Come out of these silos and groove that are defined jobs only with the government or working in a corporate.

    Startups, unicorns are doing wonders. Let me tell you, IITs and IIMs have given these unicorns. But about 50% are from other institutes. I know the potential this country has because I have been to ISRO. Seen for myself. I have seen emerging space economy, there I came to learn for the first time when our rocket had to be put in space. It was not from Indian soil, and now we put rockets of other countries, USA also, developed countries also, Singapore also, from our and make money. Good value for money. Chandrayaan, Gaganyaan – They are defining us.

    I had the good occasion to have discussion with S. Somnathan, ISRO chairman, he was till recently, now V. Narayanan. Their fire, their zeal, their commitment, very different. In Bangalore, Govindan Rangarajan, Indian Institute of Science, and Dr. Clyde Shelby. I had the occasion to see personally what kind of innovations are being done for larger public welfare by scientific and industrial research. I say so because a country’s reputation, image, power is to be defined by research.

    Research is the bedrock of economic supremacy and global distinction. There was a time when we did not bestow attention on research and we thought somebody will give it to us with a price. And that someone will decide how much to give, on what terms to give but now, we have changed that. Nations that lead in research have global respect in economy, in strategy. And countries depend on them. Just imagine how far we have gone when it comes to meteorological predictions. We are one of the best in the world. As Governor-General of West Bengal, and the state is prone to cyclones, super cyclones, there was no mortality on high seas. The prediction was very accurate. Scientific prowess defines strategic prowess. Conventional wars are gone.

    And we have an ancient legacy of having been researchers, discoverers, giving to the world right from zero in arithmetic or mathematics. Aryabhatta, Brahmagupta laid foundations of global mathematics. Our scientific pantheon, Raman known by Raman effect, Bose, Sarabhai, Chandrasekhar, Shah, Bhatnagar, and our former president, they define India’s research mind, orientation. They exemplify commitment to research. And look at those days, we were in colonial shackles. Raman effect discovered against colonial scepticism.

    It stands as a testament to our Indian scientific beliefs. Cutting edge research is demand of the times. And the research has to correlate to fulfil the needs of the society. A research that is to be put on the shelf, a research that is for the self, a research that embellishes the profile, a research that contributes only to credentials is not the research. A research that only scratches the surface is not the research. The research has to be authentic.

    The research must create a wave. It must have positive, cascading impact on the lives of the people. Industries, business, trade and commerce are driven by research. At the moment, boys and girls, we are living in times we never imagined. You are facing those times as much as I am doing. We call them Artificial Intelligence, Internet of Things, Blockchain, Machine Learning and the kind. Blockchain for some may be Blockchain. Machine Learning may be Machine Learning only. But look at the power these technologies have.

    And these technologies are known as disruptive technologies. But these technologies come with enormous challenges that can uproot us. But they come also with a basket of opportunities. And we must focus on unleashing opportunity out of these disruptive technologies. Our research has to come up to that mark. It is our good fortune that the government is alive to the situation.

    And we as a nation, home to one sixth of humanity, are at the moment focussing on these technologies. Our quantum computing. There is a reflection by the director. About 6 lakh or 8 lakh jobs will be created out of investment of 6 lakh crores. Quantum computing, there is allocation of 6,000 crores and 18,000 crores for green hydrogen mission. These are the opportunities for you people. Space economy, blue economy. These are the opportunities for you.

    And therefore research has to facilitate life of the ordinary person. To improve our industry, our administration. A nation of 1.4 billion and a rich human resource unrivalled in the world. If it is catalysed and activated by temperament of research, the results will be exponential, geometric and revolutionary. Because now Bharat is no longer a nation with a potential. Our rise is unstoppable for last few years.

    It is incremental. And therefore, there has to be a greater commitment that research in the country is in the big league, in the Platinum category. And for that, the faculty has to brainstorm. We cannot have satisfying moments. As reflected by a Greek philosopher much before Socrates’ era, Heraclitus, Boys and Girls, now we are having change every moment. Paradigm shift.

    We are virtually at an industrial revolution. Unknown to the humanity before. And if nations have to go ahead of others, we have to focus on research. There was a time in Silicon Valley otherwise we could hardly see an Indian. And there is now hardly a global corporate that doesn’t have an Indian man or woman at the peak. Our demographic dividend now requires universalist engineering, mathematics. And that is why, after more than three decades, a game-changing education policy was introduced. And that was to give you enough room so that you can go after your aptitude and distance from the package of just degrees.

    I will take the occasion to appeal to corporates that they must come forward to drive the engines of research. Liberally contribute because ultimately they are the beneficiaries. Alongside the government they should be making liberal contributions beyond their CSR funds. If you look at the global corporates, how much they invest you will be surprised. We take pride in the last five years. We have increased our research fiscal commitment in the corporates to 50% above.

    From 0.89% of their revenue to 1.32% of their revenue. I find it deficient. Investment has to be many times more. We take pride also because earlier things were not moving. Now things are moving. When things are moving, we notice a change. Patents have nearly more than doubled in the last ten years. But our patents must be in consonance with our demographic participation in the world. One-sixth we must have. Because we are one-sixth of humanity. And this one-sixth of humanity qualitatively is very different than one-sixth. And therefore, taking note of technology access and adaptability, we need to be in optimal performance mindset.

    Imagine a country where 100 million farmers, three times a year, get direct banking transfers. Young boys and girls were not aware, there was a time when corruption was the password for opportunity, recruitment or business licence. Power corridors were leveraged by lies and agents. All this neutralised. And neutralised also through technological applications. Because middlemen have been shown the door. So when I look at your institute, Director, science, education and research, the triangle, this defines your role. Pursuit of knowledge. It starts with education. Because education as a transformative vehicle is very powerful. It brings about equality. Any one of you can have unicorn and be in the big league of industry. You don’t have to look to the situation. That yes, my father was in the industry, that’s true. We need to fight by technology. That’s the sin we are facing. So education. In education, science is important.

    Because science unfolds your mind to generate creativity, innovation. And then the next step is research. A combination of these will unlock the enormous potential of Indian mind. Will make available avenues and vistas to our population. Every nation hopes to be self-reliant. But we as a nation are very large. Complex on occasions. When the nation is growing so fast, some of us, the number is very small. The traction is large. Put personal interest, commercial interest, political interest, above national interest. This can’t be allowed. This is unfair to boys and girls.

    This is unfair to everyone, because if in our democracy there is someone as a class more serious, significant stakeholder in democracy and growth, than any one of us sitting here, is the youth of the country. Because as we march for Viksit Bharat after 2047, you are the driving force behind engines of growth. And therefore we have to give new dimension now. Make in India, start up India. And look at technology. It has to get into healthcare.

    Technology has to get into education. Technology can catalyse that quality health and quality education is available to one and all. And if that happens, Bharat will be what it has been for centuries.Our lean period started in 12th century. Then marauders came, invaders came, recklessly destroyed our culture. They sacrileged our religious places to an extent that they put their own at the same place. Then came the Britishers who did not give us the education to rule ourselves. They gave us education and taught us history as suited to them. Now things have changed. We are much ahead of UK in economy. We have a bunch of institutions now all over the country. IITs, IIMs, Institutions like yours, and therefore we must have this ecosystem with ears and eyes on the ground. The litmus test is changing the life of the ordinary man. We all stand committed to that because that is our preamble.

    We the people of India want these things. I conclude for time constraint. What Vivekananda said, “Arise, awake, stop not till the goal is achieved”. A motto which you must have. From my side I can give it to you. Have no tension, Have no stress, Never fear failure. Failure is natural. Sometimes you will be surprised, Oh he has succeeded, he should not have succeeded, take it in stride. System is transparent, there will be aberrations. Sometimes you will find, Oh! my own success is unjustified. These are situations natural to us, and then Dr. Kalam whose heart was always in education. I recollect when he met his maker. He was with the students in the North East, and what he said I quote,

    “Dreams transform into thoughts, and thoughts result in action” and therefore my ultimate plea with you, If an idea occurs to you don’t allow your mind to be a parking ground for that idea because you fear you may fail. Get rid of it. Failure is a myth because there is no one who has not failed but they never took failure as failure. Chandrayaan 2 was failure for some who are critics, who are recipe for negativity. Chandrayaan II did not fail, It went that far, and Chandrayaan III did the rest. Let your innovations catalyse India’s scientific renaissance, and advance human progress because we are a country that believes in ‘Vasudhaiva Kutumbakam’ – One Earth, One Family, One Future, that was our motto to the entire world.

    Once again, I am grateful to the Director for making available this opportunity to me at a very short notice. I understand that there has been some inconvenience, I would urge that you overlook it.
    Thank you so much.

    *****

    JK/RC/SM

    (Release ID: 2104169) Visitor Counter : 15

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  • MIL-OSI Asia-Pac: India Energy Week 2025

    Source: Government of India

    India Energy Week 2025

    Driving Global Energy Innovation and Collaboration for a Sustainable Future

    Posted On: 17 FEB 2025 6:47PM by PIB Delhi

    India is driving not only its growth but also the growth of the world, with the energy sector playing a significant role.

    -Prime Minister Shri Narendra Modi

    A Global Energy Confluence

    India Energy Week (IEW) 2025, held from February 11 to 14, 2025, at the Yashobhoomi Convention Centre, New Delhi, is a premier global event in the energy sector. The event held under the patronage of the Ministry of Petroleum and Natural Gas and organized by the Federation of Indian Petroleum Industry (FIPI) has grown into the world’s second-largest energy conference.

    A Hub of Innovation and Transformation

    The India Energy Week exhibition has grown exponentially to become the world’s new meeting place for energy professionals, with millions of dollars of business conducted onsite, positioning it at the very heart of international business.

    A key facilitator of dialogue between international and regional producers, the event provides international exhibitors with the opportunity to network with key buyers from over 120 countries across the full energy value chain. Exhibitors will have the opportunity to showcase cutting-edge technologies that drive sustainable energy solutions, forge strategic partnerships, and explore opportunities to shape the future of energy.

    Defining Achievements of IEW 2025

     Key Focus Areas of IEW 2025

    • Energy Transition & Green Future: Major focus on biofuels, flex-fuel vehicles, ethanol blending, and green hydrogen. India is steadily progressing toward its goal of producing 5 million metric tons (MMT) of green hydrogen annually by 2030.
    • Exploration & Production (E&P) Reforms: Launch of Open Acreage Licensing Program (OALP) Round X, covering 200,000 sq. km, along with regulatory changes to boost investment in oil and gas exploration.
    • India-US Energy Cooperation: Strengthening LNG supply partnerships and increasing natural gas consumption in India’s energy mix from 6% to 15%.
    • Global Energy Investments: Expanding investments in oil and gas assets across Brazil, Venezuela, Russia, and Mozambique while benefiting from emerging oil sources.
    • Startup & Innovation Recognition: The Avinya’25 – Energy Startup Challenge, led by the Ministry of Petroleum and Natural Gas, awarded innovative startups for breakthroughs in CO₂ capture, ESG solutions, and renewable energy. The Vasudha – Oil and Gas Startup Challenge recognized overseas startups revolutionizing the upstream oil and gas sector with AI-driven solutions.

    Navigating the Nine Thematic Zones

    IEW 2025 introduced nine thematic zones, each focusing on different aspects of the energy sector:

    1. Hydrogen Zone – Hosted by Oil India Limited, showcasing cutting-edge innovations in hydrogen fuel generation.
    2. Biofuels Zone – Highlighting India’s advancements in Biodiesel, Bioethanol, Compressed Biogas, and Sustainable Aviation Fuel.
    3. Renewable Energy Zone – Featuring innovations in solar, wind, and other renewable energy technologies.
    4. LNG EcoSystem – Hosted by Petronet LNG, focusing on India’s downstream LNG supply chain and eco-friendly fuel solutions.
    5. Make in India Zone – Hosted by Engineers India Limited, highlighting indigenous energy manufacturing capabilities.
    6. City Gas Distribution Zone – Hosted by GAIL, emphasizing India’s rapid progress towards a gas-based economy.
    7. Petrochem Zone – Hosted by ONGC, showcasing advancements in petrochemical technologies and sustainable solutions.
    8. Innovation Zone – Featuring emerging startups and breakthrough technologies in energy.
    9. Digitalisation Zone – Showcasing AI, IoT, and automation in optimizing energy production and distribution.

    India: The Rising Energy Powerhouse

    India, the world’s third-largest energy consumer, is poised for the highest energy demand growth. Under PM Narendra Modi’s leadership, the nation is advancing towards a greener future with significant investments in secure, sustainable, and affordable energy. India Energy Week 2025 will serve as a key platform for global collaboration, driving discussions on energy security, innovation, and sustainability.

     

    A dynamic energy landscape

    India’s Path to Sustainability

    As a rapidly advancing economic powerhouse, India faces the twin challenge of surging energy demand while mitigating its carbon footprint. In response, Hon’ble Prime Minister Shri Narendra Modi launched the concept of “Panchamrit” at COP 26, representing a blend of five essential elements. “Panchamrit” underscores India’s commitment to addressing climate change and fostering sustainable growth on a global scale.

    Panchamrit: India’s Five Point Pledge Towards Climate Change

    1. India will take its non-fossil energy capacity to 500 GW by 2030
    2. By 2030, India will reduce the carbon intensity of its economy by less than 45%
    3. India will meet 50% of its energy requirements from renewable energy by 2030
    4. By the year 2070, India will achieve target of net-zero
    5. India will reduce the total projected carbon emissions by one billion tonnes till 2030

    Conclusion

    India Energy Week 2025 serves as a pivotal platform for global energy stakeholders to exchange ideas, foster partnerships, and witness India’s leadership in energy transition. As Shri Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, highlighted, IEW 2025 will act as a catalyst for groundbreaking projects in green hydrogen, solar advancements, and exploration technologies, reinforcing India’s commitment to sustainability and innovation. With a focus on transformative collaboration and investment, the event will shape the global energy agenda, positioning India at the forefront of energy security, technological progress, and a sustainable future.

    References

    Download in PDF

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    Santosh Kumar/ Sarla Meena/ Anchal Patiyal

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  • MIL-OSI Asia-Pac: Union Finance and Corporate Affairs Minister launches Mutual Credit Guarantee Scheme for MSMEs in Mumbai today

    Source: Government of India

    Union Finance and Corporate Affairs Minister launches Mutual Credit Guarantee Scheme for MSMEs in Mumbai today

    Smt. Nirmala Sitharaman also inaugurates first ‘Sachal Aaykar Seva Kendra’ virtually

    FM Smt. Nirmala Sitharaman addresses and interacts with stakeholders in a post-budget meeting in Mumbai

    Increased capex, focus on reducing fiscal deficit and boosting consumption, saving and investment by the citizens: Union Finance Minister

    Posted On: 17 FEB 2025 5:56PM by PIB Mumbai

    : Mumbai, February 17, 2025

    Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman launched the Mutual Credit Guarantee Scheme for MSMEs (MCGS – MSME) for facilitating loans upto Rs. 100 crore to MSMEs for purchase of machinery or equipment without collateral, in pursuance of the Union Budget 2024-25 announcement, at the post-budget stakeholders’ interaction in Mumbai, today.

    The Union Minister also virtually inaugurated the first ‘Sachal Aaykar Seva Kendra’ at Mumbai, to be operational in Navy Nagar Colaba from 18th and 19th February, 2025, and is designed to facilitate access to digital services, provide assistance for grievance redressal and to promote tax awareness.

    At the same function, Smt. Sitharaman also handed over ceremonial keys to the home owners benefitted by the SWAMIH Investment Fund of SBI Ventures Ltd. Union MoS (Finance) Shri Pankaj Chaudhary, Secretary (Finance) Shri Tuhin Kanta Pandey, Secretary (DEA) Shri Ajay Seth, Secretary (Dept. of Expenditure) Dr. Manoj Govil, Secretary (Dept. of Financial Services) Shri M. Nagaraju, Secretary (DIPAM) Shri Arunish Chawla, CBDT Chairman Shri Ravi Agrawal and CBIC Chairman Shri Sanjay Kr. Agarwal were also present on the occasion.

    In her keynote address, Smt. Sitharaman stated that Government continues its post-COVID capital and asset-building strategy, with increased allocations for capital expenditure to drive infrastructure development. The Finance Minister outlined the major takeaways from the Budget 2025-26, emphasizing economic growth, responsible fiscal management, and key structural reforms aimed at realising the vision of Viksit Bharat.

    Increased Capital Expenditure

    Government’s emphasis post Covid for public expenditure in asset building continues and hence, capex is 10.2 percent more in Budget 2025-26 than last budget (Vote-on-account 2024-25).  The capex budget has been significantly increased and stands at around Rs. 16 lakh crore, stated the Finance Minister.

    Boost to R& D and STEM

    Highlighting the importance of research and development, the Finance Minister noted that significant steps have been taken to support R&D, especially in STEM fields, with private sector participation being encouraged. She also reaffirmed the Government’s commitment to ongoing reforms in manufacturing, Ease of Doing Business (EODB), and social infrastructure to strengthen economic foundations.

    Focus on Fiscal Consolidation, Reduction of Fiscal Deficit 

    The Government remains steadfast in its commitment to fiscal consolidation, with a clear roadmap to bring the fiscal deficit below 4.5%. Borrowings are focused on capital asset creation, ensuring sustainable economic growth. She assured, “We are on track to bring the Debt-to-GDP ratio down to 50% by FY 2030-31. This reflects our disciplined approach towards financial stability without compromising on education, healthcare, or infrastructure investments.”

    Boosting Consumption, Saving and Investment by the citizens

    “This Budget focuses on boosting consumption while ensuring economic momentum. By providing tax concessions, we are enabling taxpayers to spend, save and invest, giving them the freedom to make financial decisions that best suit their needs.”

    New I-T Act

    The Income Tax Act, 1961, is set to be replaced by the new law which is currently under review by the Select Committee. With 60,000 inputs received, it is one of the most comprehensive tax reform exercises undertaken and reflects the spirit of Jan-bhagidaari. The new law will reduce complexity by consolidating provisions, reducing the number of sections from 800 to 500, and simplifying language for better interpretation. “FAQs The Finance Minister praised the CBDT for completing this monumental task within six months, stating, “This is a landmark effort towards simplification and transparency in taxation. Our aim is to make compliance easier and more efficient for every taxpayer.”

    Opening up newer sectors for investments – Space, Energy, Nuclear Energy, Critical Minerals

    Newer sectors such as space and nuclear energy have been opened up for investments, ensuring global competitiveness and technological advancement. Stressing the importance of energy security, she remarked, “With the rise in data centers and industrial expansion, our energy sector must scale accordingly”, stated the Finance Minister. The MSME Loan Guarantee scheme now extends to critical minerals, with the Government signing MoUs with multiple countries for import of important critical minerals. Additionally, full exemption of Customs Duties on 25 Critical Minerals have been announced in the union budget. This will benefit sectors like space, defence, telecommunications, high-tech electronics, nuclear energy and renewable energy, where these rare earth minerals are critical.

    Education and Health

    Education and health remain key priorities, with more universities being considered for student loan support to enhance accessibility to higher education. The insurance sector has been opened up with necessary safeguards, ensuring broader participation while maintaining financial security. Union Budget 2025 increased the sectoral cap of insurance sector to 100% from 74%.

    PM Dhan Dhaanya Krishi Yojana for better agricultural productivity

    Addressing food security, the Finance Minister highlighted the introduction of PM Dhan Dhaanya Krishi Yojana, which aims to improve agricultural productivity across 100 districts known for low agricultural output. This programme will help 1.7 crore farmers to enhance agricultural productivity, improve irrigation facilities and facilitate long-term and short-term credit “Strengthening food security in rural India is paramount, and this initiative will uplift our farmers and boost productivity where it is needed most,” she said.

    The interaction with stakeholders was followed by a press conference, the proceedings of which may be accessed here. 

     

    Rabee/ Sriyanka /Dhanalaxmi/PM

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  • MIL-OSI Asia-Pac: Ministry of Statistics and Programme Implementation organised a half-day workshop on “Leveraging Citizen-Generated Data (CGD) for Sustainable Development Goals (SDGs) in India” on 17th February 2025 in New Delhi

    Source: Government of India

    Posted On: 17 FEB 2025 6:36PM by PIB Delhi

    MoSPI organised a half-day workshop on “Leveraging Citizen-Generated Data (CGD) for Sustainable Development Goals (SDGs) in India”, on 17th February 2025 at Janganana Bhawan, 2-A, Man Singh Road, New Delhi, as part of its ongoing initiatives to harness Citizen Generated Data. The workshop aims to enhance awareness and understanding of Citizen-Generated Data (CGD) as a valuable tool for addressing data gaps and promoting inclusivity in the national statistical landscape. It provided a platform to discuss the relevance of the Copenhagen Framework on CGD in the Indian context and explore its potential adaptation within the country’s statistical system. The discussions focused on strengthening data ecosystems and supporting evidence-based policymaking.

    The workshop was inaugurated by Dr. Saurabh Garg, Secretary, MoSPI, and was attended by approximately 75 participants, including senior officers from Central Ministries, MoSPI, as well as representatives from UN agencies and civil society organizations (CSOs).

    Dr. Saurabh Garg, Secretary, MoSPI, in his inaugural address, emphasized the importance of Citizen-Generated Data (CGD) as a valuable complement to the official statistics, helping to bridge data gaps and promote inclusivity. He highlighted MoSPI’s key role in India’s statistical system and the need for exploring the possibility of integrating CGD into SDG monitoring and reporting. He also emphasized that India is already engaged in participatory planning processes, social auditing, and CPGRAMS, all of these initiatives are aligned with the Government’s vision of “Sabka Saath, Sabka Vikas, Sabka Vishwas, and Sabka Paryas.” This is in line with the ethos of SDG of “No One is left behind”. Furthermore, these efforts need to be enhanced through a comprehensive framework. He underlined the various challenges involved in unleashing the full potential of citizen contribution to data such as subjectivity, representativeness, privacy and security, scalability, sustainability etc.  

    Delivering the welcome address, Shri N. K. Santoshi, Director General (CS), MoSPI emphasized MoSPI’s efforts to address the extensive data requirements for SDG monitoring and the need for granular insights. He highlighted that MoSPI is exploring non-traditional data sources, such as Citizen-Generated Data (CGD), Geo-spatial information, and other innovative approaches, to complement official statistics and strengthen the tracking of SDG progress across different administrative levels

    Representative from UNRCO provided an overview of global advancements in CGD, introduced the Copenhagen Framework on Citizen Data, and discussed its relevance and adaptation within the Indian statistical system. Mr. Suresh Khadakbhavi, CEO, Digi Yatra Foundation, shared insights on generating Citizen-Generated Data (CGD) through the DigiYatra platform, while Mr. Rajiv Ranjan, DGM (D&TB), State Bank of India, discussed the use of CGD in the Digital Life Certificate for Pensioners Scheme.

    Shri S. C. Malik, ADG, MoSPI, delivered the vote of thanks during the concluding session of the workshop.

    *****
     

    Samrat/Allen: pibmospi[at]gmail[dot]com

    (Release ID: 2104165) Visitor Counter : 23

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: TRAI releases ‘Recommendations on the Terms and Conditions of Network Authorisations to be Granted Under the Telecommunications Act, 2023’.

    Source: Government of India

    Ministry of Communications

    TRAI releases ‘Recommendations on the Terms and Conditions of Network Authorisations to be Granted Under the Telecommunications Act, 2023’.

    Posted On: 17 FEB 2025 6:20PM by PIB Delhi

    The Telecom Regulatory Authority of India (TRAI) has today released ‘Recommendations on the Terms and Conditions of Network Authorisations to be Granted Under the Telecommunications Act, 2023’. 

    The Department of Telecommunications (DoT) through a letter dated 26.07.2024 informed TRAI that the Telecommunications Act, 2023 has been published in the Official Gazette of India in December 2023. Section 3(1)(b) of the Act provides for obtaining an authorisation by any person intending to establish, operate, maintain or expand telecommunication network, subject to such terms and conditions, including fees or charges, as may be prescribed. DoT, through the letter dated 26.07.2024, requested TRAI to provide its recommendations under Section 11(1)(a) of the TRAI Act, 1997 (as amended), on the terms and conditions, including fees or charges, for authorisation to establish, operate, maintain or expand telecommunication networks under section 3(1)(b) of the Telecommunications Act, 2024.  Further, through its addendum letter dated 17.10.2024, DoT requested TRAI to consider an authorisation for satellite communication network under section 3(1)(b) of the Telecommunications Act, 2024.

    In this regard, TRAI issued a consultation paper on ‘The Terms and Conditions of Network Authorisation to be Granted Under the Telecommunications Act, 2023′ on 22.10.2024 for seeking comments and counter comments from stakeholders on the issues raised in the consultation paper. The last dates for furnishing comments and counter comments were 12.11.2024 and 19.11.2024 respectively. However, on the request of a few stakeholders, the last dates for furnishing written comments and counter comments were extended to 19.11.2024 and 26.11.2024 respectively.

    In response to the issues raised in the consultation paper, 32 stakeholders furnished their comments, and 11 stakeholders furnished their counter comments. As part of the consultation process, TRAI conducted an open house discussion (OHD) through virtual mode on 17.12.2024.

    Based on the comments received from stakeholders in the consultation process and on its own analysis, TRAI has finalized Recommendations on the Terms and Conditions of Network Authorisation to be Granted Under the Telecommunications Act, 2023. These recommendations are aimed at fostering growth and enhancing ease of doing business in the telecom sector. Through these recommendations, the Authority has recommended a network authorisation framework, apart from detailed terms and conditions for various network authorisations to be granted under the Telecommunications Act, 2023. Salient points of these recommendations are as given below:

    1. The Central Government should grant network authorisations under section 3(1)(b) of the Telecommunications Act, 2023 instead of entering into an agreement with the entity.
    2. The detailed terms and conditions of each network authorisation should be prescribed through the rules notified under Section 3(1)(b) of the Telecommunications Act, 2023.
    3. For any change(s) in the terms and conditions of the network authorisations emanating from these recommendations, except for the reason of the interest of the security of the State, the Central Government should seek TRAI’s recommendations.
    4. The Rules under Section 3(1)(b) of the Telecommunications Act, 2023 should be organized in the manner given below:
    1. Telecommunications (Grant of Network Authorisations) Rules; and
    2. Separate rules for each network authorisation.
    1. Each network authorisation to be granted by the Central Government under Section 3(1)(b) of the Telecommunications Act, 2023 should be in the form of an authorisation document, containing the essential elements of the network authorisation.
    2. Infrastructure Provider (IP) Authorisation:
    1. The Central Government should introduce Infrastructure Provider (IP) Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023.
    2. Any entity intending to establish, operate, maintain, or expand dark fibers, right of way, duct space and towers should obtain IP Authorisation from the Central Government.
    3. Main scope of IP Authorisation: To provide dark fibres, right of way (RoW), duct space, towers, and in-building solution (IBS) to the entities authorised under Section 3(1)(a) of Telecommunications Act, 2023
    1. Digital Connectivity Infrastructure Provider (DCIP) Authorisation:
    1. The Central Government should introduce Digital Connectivity Infrastructure Provider (DCIP) Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023.
    2. Any entity intending to establish, operate, maintain, or expand wireline access network, radio access network (RAN), transmission links, and Wi-Fi systems should obtain DCIP Authorisation from the Central Government.
    3. Main scope of DCIP Authorisation: DCIP authorised entities may provide wireline access network, radio access network (RAN), transmission links, Wi-Fi systems, and In-Building Solution (IBS) to the entities authorised under Section 3(1)(a) of the Telecommunications Act, 2023. DCIP authorised entities may also provide dark fibers, right of way (RoW), duct space, and towers to the entities authorised under Section 3(1)(a) of the Telecommunications Act, 2023.
    1. In-Building Solution (IBS):

    The property manager should be permitted to establish, operate, maintain, and expand in-building solution (IBS) within the limits of a single building, compound, or estate, managed by it. For this purpose, there should be no requirement of obtaining any authorisation from the Central Government under Section 3(1)(b) of the Telecommunications Act, 2023. Here, the term “property manager” means the person who is either the owner of the property or has any legal right to control or manage the property.

    1. Content Delivery Networks (CDN):

    The establishment, operation, maintenance, and expansion of Content Delivery Networks (CDNs) should be authorisation-exempt under Section 3(3) of the Telecommunications Act, 2023.

    1. Internet Exchange Point (IXP) Authorisation:
    1. The Central Government should introduce Internet Exchange Point (IXP) Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023.
    2. Any entity intending to establish, operate, maintain, or expand Internet Exchange Points (IXPs) in India should obtain IXP Authorisation from the Central Government.
    3. Main scope of IXP Authorisation: To provide peering and exchange of internet traffic, originated and destined within India, amongst the entities authorised to provide internet service under the Telecommunications Act, 2023, and Content Delivery Network (CDN) providers located in India
    1. Satellite Earth Station Gateway (SESG) Provider Authorisation:
    1. The Central Government should introduce Satellite Earth Station Gateway (SESG) Provider Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023.
    2. Any entity intending to establish, operate, maintain, or expand satellite earth station gateway (SESG) in India should be required to obtain SESG Provider Authorisation from the Central Government.
    3. Main scope of SESG Provider Authorisation: To provide its SESG infrastructure to the entities which are authorised under Section 3(1)(a) of the Telecommunications Act, 2023 and which are permitted to use satellite media under their scope of service
    1. Ground Station as a Service (GSaaS):

    The establishment, operation, maintenance, and expansion of the following categories of ground stations (as envisaged in the Norms, Guidelines and Procedures for Implementation of Indian Space Policy-2023 in respect of Authorization of Space Activities (NGP) issued by IN-SPACe in May 2024) should be authorisation-exempt in terms of Section 3(3) of the Telecommunications Act, 2023:

      1. Satellite Control Centre (SCC)
      2. Telemetry, Tracking and Command (TT&C)
      3. Mission Control Centre (MCC)
      4. Remote Sensing Data Reception Station
      5. Ground Station for supporting operation of space-based services such as Space Situational Awareness (SSA), Astronomical, space science or navigation missions etc.
    2. Cloud-hosted Telecom Network (CTN) Authorisation:
      1. The Central Government should introduce Cloud-hosted Telecom Network (CTN) Provider Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023.
      2. Any entity intending to establish, operate, maintain, or expand cloud-hosted telecommunication network should obtain CTN Provider Authorisation from the Central Government.
      3. Main scope of CTN Authorisation: To provide cloud-hosted telecommunication network-as-a-service (CTNaaS) to the eligible entities authorised under Section 3(1)(a) of the Telecommunications Act, 2023
    3. Mobile Number Portability (MNP) Provider Authorisation:
      1. The Central Government should introduce Mobile Number Portability (MNP) Provider Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023.
      2. Main scope of MNP Provider Authorisation: Establishment, operation, maintenance, and expansion of a telecommunication network for providing MNP to the entities authorised to provide Access Service under the Telecommunications Act, 2023; and provision of location routing number (LRN) update to all entities authorised to provide Access Service, NLD Service and ILD Service under the Telecommunications Act, 2023
      3. The present policy regime of two MNP zones, each comprising of 11 authorised service areas (telecom circles/ Metro areas), and only one MNP Provider authorised entity in each MNP zone should be continued at present. However, in future, the Central Government may, if deemed fit, change the number of MNP zones in the country, amend the composition of authorised services areas within each MNP zone, and introduce more MNP Provider authorised entities in each MNP zone through a competitive bidding process.
    4. TRAI has also recommended a comprehensive framework for permitting smooth migration of existing entities holding Infrastructure Provider Category-I (IP-I) Registration and Mobile Number Portability Service Provider (MNPSP) License to the new network authorisation regime under the Telecommunications Act, 2023 on voluntary basis.
    5. Besides, TRAI, through the recommendations, has expressed the following views:
      1. There is a need for introducing Captive Non-Public Network (CNPN) Provider Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023 with the scope of establishing, maintaining, operating and expanding CNPN networks for enterprises. In case the Central Government accepts this recommendation, it may seek the recommendations of TRAI on the detailed terms and conditions for such an authorisation.
      2. Prima facie, there is a need for introducing a cable landing station (CLS) Provider Authorisation with a broad scope of providing access facilitation to the essential facilities at cable landing station, and co-location to facilitate access to the cable landing station to the eligible service authorised entities. In case the Central Government deems it fit, it may send a reference to the Authority for exploring the need for CLS Provider Authorisation under Section 3(1)(b) of the Telecommunications Act, 2023 and the terms and conditions thereof.

     

    1. The following fees have been recommended for various network authorisations:

    Sl. No.

    Network Authorisation

    Application Processing Fee (in Rs.)

    Entry Fee

    (in Rs.)

    Bank Guarantee

    (in Rs.)

    Authorisation Fee
    1.  

    Infrastructure Provider (IP)

     

    10,000

    Nil

    Nil

    Nil
    1.  

    Digital Connectivity Infrastructure Provider (DCIP)

     

    10,000

    10,00,000

    Nil

    Nil
    1.  

    Internet Exchange Provider (IXP)

     

    10,000

    Nil

    Nil

    Nil
    1.  

    Satellite Earth Station Gateway (SESG) Provider

     

    10,000

    10,00,000

    Nil

    Nil
    1.  

    Cloud hosted Telecom Network (CTN) Provider

     

    10,000

    10,00,000

    Nil

    Nil
    1.  

    Mobile Number Portability (MNP) Provider

    10,000

    50,00,000

    40,00,000

    1% of Adjusted Gross Revenue (AGR)

     

    The recommendations have been placed on the TRAI’s website (www.trai.gov.in). For any clarification or information, Shri Akhilesh Kumar Trivedi, Advisor (Networks, Spectrum and Licensing), TRAI may be contacted at Telephone Number +91-11-20907758.

    *********

    SB/DP

    (Release ID: 2104157)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: The cumulative exports (merchandise & services) during April-January 2024-25 is estimated at USD 682.59 Billion, as compared to USD 636.69 Billion in April-January2023-24, an estimated growth of 7.21%.

    Source: Government of India (2)

    Ministry of Commerce & Industry

    The cumulative exports (merchandise & services) during April-January 2024-25 is estimated at USD 682.59 Billion, as compared to USD 636.69 Billion in April-January2023-24, an estimated growth of 7.21%.

    The cumulative value of merchandise exports during April-January2024-25 was USD 358.91 Billion, as compared to USD 353.97 Billion during April-January2023-24, registering a positive growth of 1.39%.

    Non-Petroleum exports in January2025 valued at USD 32.86Billion registered an increase of14.47% as compared to USD 28.71Billion in January2024.

    The cumulative Non-Petroleum exports in April-January2024-25 valued at USD 305.84Billion registered an increased of7.90% as compared to USD 283.45Billion in April-January2023-24.

    Non-petroleum & Non-Gems & Jewellery exports registered an increase of 14.33% from USD 26.12 Billion in January2024 to USD 29.87 Billion in January2025.

    Major drivers of merchandise exports growth in January2025 include Electronic Goods, Engineering Goods, Drugs & Pharmaceuticals, Rice and Gems & Jewellery.

    Electronic Goods exports increased by 78.97 % from USD 2.29 Billion in January2024 to USD 4.11 Billion in January2025.

    Engineering Goods exports increased by 7.44 % from USD 8.77 Billion in January2024 to USD 9.42 Billion in January2025.

    Drugs & Pharmaceuticals exports increased by 21.46 % from USD 2.13 Billion in January2024 to USD 2.59 Billion in January2025.

    Rice exports increased by 44.61 % from USD 0.95 Billion in January2024 to USD 1.37 Billion in January2025.

    Gems & Jewelleryexports increased by 15.95 % from USD 2.59 Billion in January2024 to USD 3 Billion in January2025.

    Posted On: 17 FEB 2025 6:15PM by PIB Delhi

    • India’s total exports (Merchandise and Services combined) for January2025* is estimated at USD 74.97 Billion, registering a positivegrowth of 9.72 percent vis-à-vis January2024.Total imports (Merchandise and Services combined) for January2025* is estimated at USD 77.64 Billion, registering a positive growth of 12.98 percent vis-à-vis January2024.

     

    Table 1: Trade during January2025*

     

     

    January2025

    (USD Billion)

    January2024

    (USD Billion)

    Merchandise

    Exports

    36.43

    37.32

    Imports

    59.42

    53.88

    Services*

    Exports

    38.55

    31.01

    Imports

    18.22

    14.84

    Total Trade

    (Merchandise +Services) *

    Exports

    74.97

    68.33

    Imports

    77.64

    68.72

    Trade Balance

    -2.67

    -0.39

    * Note: The latest data for services sector released by RBI is for December2024. The data for January2025 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-January2023-24 and April-September2024 has been revised on pro-rata basis using quarterly balance of payments data.

    Fig 1: Total Trade during January2025*

    • India’s total exports during April-January2024-25* is estimated at USD 682.59 Billion registering a positive growth of 7.21 percent. Total imports during April-January2024-25* is estimated at USD 770.06 Billion registering a growth of 8.96 percent.

    Table 2: Trade during April-January2024-25*

     

     

    April-January2024-25

    (USD Billion)

    April-January2023-24

    (USD Billion)

    Merchandise

    Exports

    358.91

    353.97

    Imports

    601.90

    560.27

    Services*

    Exports

    323.68

    282.71

    Imports

    168.17

    146.48

    Total Trade

    (Merchandise +Services) *

    Exports

    682.59

    636.69

    Imports

    770.06

    706.75

    Trade Balance

    -87.47

    -70.06

    Fig 2: Total Trade during April-January2024-25*      

        

    MERCHANDISE TRADE

    • Merchandise exports during January2025 were USD 36.43 Billion as compared to USD 37.32 Billion in January2024.
    • Merchandise imports during January2025 were USD 59.42 Billion as compared to USD 53.88 Billion in January2024.

     

    Fig 3: Merchandise Trade during January2025

    • Merchandise exports during April-January2024-25 were USD 358.91 Billion as compared to USD 353.97Billion during April-January2023-24.
    • Merchandise imports during April-January2024-25 were USD 601.90 Billion as compared to USD 560.27 Billion during April-January2023-24.
    • Merchandise trade deficit during April-January2024-25 was USD 242.99 Billion as compared to USD 206.29 Billion during April-January2023-24.

    Fig4: Merchandise Trade during April-January2024-25

    • Non-petroleum and non-gems & jewellery exports in January2025 were USD 29.87Billion compared to USD 26.12Billion in January2024.
    • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in January2025 were USD 41.20Billion compared to USD 34.23Billion in January2024.

     

    Table 3: Trade excluding Petroleum and Gems & Jewellery during January2025

     

    January2025

    (USD Billion)

    January2024

    (USD Billion)

    Non- petroleum exports

    32.86

    28.71

    Non- petroleum imports

    45.99

    38.35

    Non-petroleum & Non-Gems & Jewellery exports

    29.87

    26.12

    Non-petroleum & Non-Gems & Jewellery imports

    41.20

    34.23

    Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

    Fig 5: Trade excluding Petroleum and Gems & Jewellery during January2025

    • Non-petroleum and non-gems & jewellery exports in April-January2024-25 were USD 281.46 Billion, compared to USD 256.56 Billion in April-January2023-24.
    • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-January2024-25 were USD 378.34 Billion, compared to USD 354.86 Billion in April-January2023-24.

    Table 4: Trade excluding Petroleum and Gems & Jewellery during April-January2024-25

     

    April-January2024-25

    (USD Billion)

    April-January2023-24

    (USD Billion)

    Non- petroleum exports

    305.84

    283.45

    Non- petroleum imports

    447.06

    414.77

    Non-petroleum &Non Gems& Jewellery exports

    281.46

    256.56

    Non-petroleum & Non Gems & Jewellery imports

    378.34

    354.86

    Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

    Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-January2024-25

    SERVICES TRADE

    • The estimated value of services export for January2025* is USD 38.55 Billion as compared to USD 31.01Billion in January2024.
    • The estimated value of services imports for January2025* is USD 18.22 Billion as compared to USD 14.84Billion in January2024.

    Fig 7: Services Trade during January2025*

    • The estimated value of service exports during April-January2024-25* is USD 323.68 Billion as compared to USD 282.71 Billion in April-January2023-24.
    • The estimated value of service imports during April-January2024-25* is USD 168.17 Billion as compared to USD 146.48 Billion in April-January2023-24.
    • The services trade surplus for April-January2024-25* is USD 155.52 Billion as compared to USD 136.23 Billion in April-January2023-24.

    Fig 8: Services Trade during April-January2024-25*

    • Exports ofOther Cereals  (103.2%), Electronic Goods (78.97%), Tobacco (59.18%), Coffee (57.07%), Rice (44.61%), Jute Mfg. Including Floor Covering (40.67%), Meat, Dairy & Poultry Products (35.66%), Mica, Coal & Other Ores, Minerals Including Processed Minerals (27.71%), Tea (21.97%), Drugs & Pharmaceuticals (21.46%), Handicrafts Excl. Hand Made Carpet (19.49%), Carpet (18.04%), Cotton Yarn/Fabs./Made-Ups, Handloom Products Etc. (16.41%), Gems & Jewellery (15.95%), Plastic & Linoleum (13.31%), Man-Made Yarn/Fabs./Made-Ups Etc. (12.14%), Rmg Of All Textiles (11.45%), Cereal Preparations & Miscellaneous Processed Items (11.13%), Ceramic Products & Glassware (10.44%), Marine Products (7.98%), Engineering Goods (7.44%), Cashew (6.85%), Leather & Leather Products (6.37%), Spices (2.32%) and Fruits & Vegetables (0.81%) record positive growth during January2025 over the corresponding month of last year.
    • Imports of Project Goods (-48.14%), Pearls, Precious & Semi-Precious Stones (-29.11%), Coal, Coke & Briquettes, Etc. (-15.22%) and Petroleum, Crude & Products (-13.49%) record negative growth during January2025 over the corresponding month of last year.
    • Services exports is estimated to grow by 14.49percent during April-January2024-25* over April-January2023-24.
    • Top 5 export destinations, in terms of change in value, exhibiting positive growth in January2025 vis a vis January2024 are U S A (39.02%), Japan (53.53%), Bangladesh Pr (17.27%), U K (14.84%) and Nepal (20.84%).
    • Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-January2024-25 vis a vis April-January2023-24 are U S A (8.95%), U Arab Emts (6.82%), Netherland (9.17%), U K (14.17%) and Japan (21.12%).
    • Top 5 import sources, in terms of change in value, exhibiting growth in January2025 vis a vis January2024 are China P Rp (17.06%), Thailand (136.63%), U S A (33.46%), Germany (72.15%) and U K (101.62%).
    • Top 5 import sources, in terms of change in value, exhibiting growth in April-January2024-25 vis a vis April-January2023-24 are U Arab Emts (35.58%), China P Rp (10.6%), Russia (7.17%), Switzerland (16.61%) and Thailand (32.59%).

    *Link for Quick Estimates

    ***

    Abhishek Dayal /  Abhijith Narayanan

    (Release ID: 2104150)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Auction for Sale (re-issue) of (i) ‘6.75% GS 2029’ (ii) ‘6.98% GOI SGrB 2054’ and (iii) ‘7.34% GS 2064’

    Source: Government of India (2)

    Posted On: 17 FEB 2025 6:04PM by PIB Delhi

    The Government of India (GoI) has announced the sale (re-issue) of (i) “6.75% Government Security 2029” for a notified amount of ₹14,000 crore (nominal) through price based auction using multiple price method, (ii) “6.98% GOI SGrB 2054” for a notified amount of ₹5,000 crore (nominal) through price based auction using multiple price method and (iii) “7.34% Government Security 2064” for a notified amount of ₹15,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on February 21, 2025 (Friday).

    Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

    Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 21, 2025. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m. 

    The result of the auctions will be announced on February 21, 2025 (Friday) and payment by successful bidders will be on February 24, 2025 (Monday).    

    The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

    ****

    NB/KMN

    (Release ID: 2104143) Visitor Counter : 7

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government approves Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) Scheme till 2025-26 during the 15th Finance Commission cycle

    Source: Government of India

    Government approves Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) Scheme till 2025-26 during the 15th Finance Commission cycle

    Government allows 100% State Production of Tur, Urad and Masur under PSS for 2024-25

    Government to procure 100% of State’s Tur, Urad, and Masur Production for Next Four Years

    Union Minister Shri Shivraj Singh Chouhan approves Tur Procurement in 9 States under Price Support Scheme for the kharif 2024-25 season

    12,006 Farmers benefited as 0.15 LMT Tur procured in Andhra Pradesh, Karnataka, Maharashtra and Telangana

    Centre Assures 100% Purchase of Tur from Farmers Through NAFED and NCCF

    Centre assures to purchase 100% of Tur produced by farmers through central nodal agencies namely NAFED and NCCF

    Posted On: 17 FEB 2025 5:30PM by PIB Delhi

    The Government of India approved the continuation of the integrated Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) Scheme during the 15th Finance Commission Cycle up to 2025-26. The integrated PM-AASHA Scheme is administered to bring-in more effectiveness in the implementation of procurement operations that would not only help in providing remunerative prices to the farmers for their produce but also control the price volatility of essential commodities by ensuring their availability at affordable prices to consumers. Under the Price Support Scheme of the integrated PM-AASHA Scheme, the procurement of the notified Pulses, Oilseeds and Copra conforming to the prescribed Fair Average Quality (FAQ) is undertaken by the Central Nodal Agencies (CNAs) at the MSP directly from the pre-registered farmers through the State level agencies.

    In order to incentivize the farmers contributing to enhancement of domestic production of pulses and to reduce the dependence on imports, the Government has allowed the procurement of Tur, Urad and Masur under PSS equivalent to 100% of the production of the State for the procurement year 2024-25. 

    The Government has also made an announcement in Budget 2025 that procurement of Tur (Arhar), Urad and Masur up to 100% of the production of the State will be continued for another four years through Central Nodal Agencies to achieve self- sufficiency in pulses in the country.

    Union Minister for Agriculture and Farmers’ Welfare Shri Shivraj Singh Chouhan has approved the procurement of Tur (Arhar) in Andhra Pradesh, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Telangana and Uttar Pradesh under Price Support Scheme for the Kharif 2024-25 Season for a total quantity consolidating to 13.22 LMT.

    The procurement has already started in Andhra Pradesh, Karnataka, Maharashtra and Telangana and a total quantity of 0.15 LMT of Tur (Arhar) has been procured in these States till 15.02.2025 benefitting 12,006 farmers of these States. The procurement of Tur (Arhar) in other States also will commence very soon. Govt. of India is committed to purchase 100% of Tur produced by farmers through central nodal agencies namely NAFED and NCCF.

    *****

    MG/RN

    (Release ID: 2104121) Visitor Counter : 63

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Reserve Bank – Integrated Ombudsman Scheme, 2021 to be called ‘Reserve Bank-Integrated Ombudsman Scheme, 2021’ after inputs from Lokpal of India

    Source: Government of India (2)

    Posted On: 17 FEB 2025 6:04PM by PIB Delhi

    The Lokpal and Lokayuktas Act, 2013, provides for establishment of a body of Lokpal for the Union and Lokayukta for States to inquire into allegations of corruption against certain public functionaries and for matters connected therewith or incidental thereto. This Act, enacted by the Parliament, uses the expression ‘Lokpal’ exclusively for a body established by virtue of coming into force of the Act of 2013 vide section 3 thereof, with effect from 16.01.2024.

    The Reserve Bank of India had launched the ‘Reserve Bank-Integrated Ombudsman Scheme, 2021’ in 2021 to provide cost-free redressal of customer complaints involving deficiency in services rendered by entities regulated by RBI. Notably, the Scheme, when translated into Hindi, was read as ‘रिज़र्वबैंक-एकीकृत लोकपाल योजना, 2021’. The usage of the term ‘Lokpal’ (‘लोकपाल’) in the RBI’s Scheme is thus contrary to the provisions of the Lokpal and Lokayuktas Act, 2013, as the term ‘Lokpal’ after coming into force of  the Lokpal and Lokayuktas Act, 2013 means a body established under section 3 of the Act to be called the Lokpal.

    The matter was, therefore,  taken up with the Reserve Bank of India to take corrective measures and rename the ‘Reserve Bank-Integrated Ombudsman Scheme, 2021’(‘रिज़र्वबैंक-एकीकृत ओम्बड्समैन योजना, 2021’) forthwith, including in all the other related official documents concerning its Ombudsman scheme.

    It is hereby brought to the notice of all concerned that the Reserve Bank of India has now replaced the word ‘लोकपाल’ with the word ‘ओम्बड्समैन’ in the Hindi version of  ‘Reserve Bank-Integrated Ombudsman Scheme (RB-IOS), 2021’. The RB-IOS 2021,

    MIL OSI Asia Pacific News –

  • MIL-OSI: FN1-2025 Kapitalforhøjelse – Udnyttelse af warrants

    Source: GlobeNewswire (MIL-OSI)

    NASDAQ FIRST NORTH GROWTH MARKET MEDDELELSE NR. 1/2025

    København, den 17. februar 2025

    FN1/2025 Kapitalforhøjelse – Udnyttelse af warrants

    Bestyrelsen i FastPass har i dag besluttet at udnytte bemyndigelsen til konvertering af warrants til aktier i henhold til vedtægternes §7. Selskabets aktiekapital udvides med i alt 49257 aktier med pålydende værdi 5DKK og dermed forøgelse af aktiekapitalen med 246.285DKK.

    Selskabets aktiekapital forøges dermed til 4.604.125 DKK fordelt på 920.825 aktier á 5 kr. per styk. Udvidelsen vil ske snarest muligt.

    De som konsekvens heraf reviderede vedtægter er tilgængelige på hjemmesiden pr. 18/2-2025.

    Yderligere oplysninger

    FastPassCorp A/S, administrerende direktør Anders Meyer, am@fastpasscorp.com

    Certified Adviser

    Baker Tilly Corporate Finance P/S, Poul Bundgaards Vej 1, DK-2500 Valby, Tlf.: +45 33 45 10 00,

    www.bakertilly.dk

    The MIL Network –

  • MIL-OSI: Bitget Lists Pi Network (PI) with Rewards Worth 150,000 PI

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 17, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of the trending memecoin Pi Network (PI) on its platform. The listing is now live with trading available under the PI/USDT pair, allowing users to engage with PI through various market activities, including deposits, trading, and a unique airdrop promotion.

    The CandyBomb promotional event offers Bitget users the chance to earn PI through deposits and trading activity. A total of 150,000 PI tokens have been allocated for this campaign, which runs from 16 February, 2025, 04:00 (UTC) to 27 February, 2025, 08:00 (UTC). Participants can join the CandyBomb page, where valid deposit and trading activity will automatically count toward the PI airdrop, divided into net deposits and spot trading pools. The 50,000 PI will be distributed based on net deposits, while new spot traders will have exclusive access to the remaining 100,000 PI, providing a significant incentive for both experienced and new traders alike.

    Pi Network is a smartphone-based mining project launched in 2019, enabling users to earn Pi tokens with the single tap of a button in its mobile app without energy-intensive hardware and a lot of energy. This solution simplifies the mining process and makes crypto accessible to more people. Pi Network’s strong user referral mechanism has led to a large userbase of the ecosystem. Currently, 19 million Pioneers have successfully completed the procedures, while 10 million have migrated to the mainnet.

    This listing positions PI within Bitget’s expanding portfolio of assets available in the Innovation, Web3, and Public Chain Zone, underlining the platform’s commitment to offering users access to the most trending digital assets. As PI gains traction in both centralized and decentralized trading venues, this listing on Bitget will allow a broader audience to participate in its ecosystem. With a vibrant community and large userbase, PI presents an opportunity for users interested in emerging mining and public chain projects in the blockchain space.

    Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON.

    For more information on PI CandyBomb, users can visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 100 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA, and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, users can contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, users can refer to the Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6da908c5-8b15-431b-b9c1-801c046b5db0

    The MIL Network –

  • MIL-OSI: Marex Group plc to Announce Fourth Quarter and Full Year 2024 Results on March 6, 2025 with an Investor Day on April 2, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 17, 2025 (GLOBE NEWSWIRE) — Marex Group plc (NASDAQ: MRX) today announced that it will release its 2024 fourth quarter and full year results before market open on Thursday, March 6, 2025. The earnings release and supplementary materials will be available through the “Investors” section of the Marex website at https://ir.marex.com/.

    A conference call to discuss the results will take place at 9am ET the same day. Analysts and investors who wish to participate in the live conference call can register using the link here: https://edge.media-server.com/mmc/p/59s7enfq

    Marex will also hold an investor day on Wednesday, April 2, 2025 in New York City.

    About Marex:

    Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. Enabling access to 60 exchanges, the Group provides coverage across four core services: Clearing, Agency and Execution, Market Making and Hedging, and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, serving over 4,000 active clients and executing around 129 million trades and clearing 856 million contracts in 2023. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds, and asset managers. Headquartered in London with more than 40 offices worldwide, the Group has over 2,000 employees across Europe, Asia and the Americas. For more information visit www.marex.com.

    The MIL Network –

  • MIL-OSI Africa: African Development Bank: New report highlights Africa’s strengthening economic growth amid global challenges

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

    ABIDJAN, Ivory Coast, February 17, 2025/APO Group/ —

    • Growth rates above 5 percent expected in close to half of the continent’s countries in 2025; 12 of world’s 20 fastest growing economies will be African

    Africa’s economic performance is showing signs of improvement but remains vulnerable to global shocks, according to the 2025 Macroeconomic Performance and Outlook (MEO) report released by the African Development Bank (www.AfDB.org/en) on Friday.

    The report, unveiled on the sidelines of the 38th Ordinary Session of the African Union Assembly in Addis Ababa, projects real GDP growth to accelerate to 4.1 percent in 2025 and 4.4 percent in 2026. The forecast is attributed to economic reforms, declining inflation, and improved fiscal and debt positions.

    Despite the positive trajectory, the report highlights that Africa’s growth remains below the 7 percent threshold required for substantial poverty reduction. The continent also continues to grapple with geopolitical tensions, structural weaknesses, climate-related disasters, and prolonged conflicts in regions such as the Sahel and the Horn of Africa. It estimated Africa’s average real GDP growth to be 3.2 percent in 2024, slightly higher than the 3.0 percent recorded in 2023.

    The report notes that while inflationary pressures persist, Africa’s average inflation rate is expected to decline from 18.6 percent in 2024 to 12.6 percent in 2025-2026 due to tighter monetary policies. Fiscal deficits have widened slightly from 4.4 percent of GDP in 2023 to 4.6 percent in 2024 but are projected to narrow to 4.1 percent by 2025-2026. Public debt levels have stabilized but remain above pre-pandemic levels, with nine countries in debt distress and eleven at high risk of distress.

    The MEO, published by the Bank biannually in the first and fourth quarters, responds to a critical need for timely economic data amid global uncertainty. It serves policymakers, development partners, global investors, researchers, and other stakeholders.

    The 2025 report identifies 24 African nations, including Djibouti, Niger, Rwanda, Senegal, and South Sudan, as poised to exceed 5 percent GDP growth in 2025. Additionally, Africa remains the world’s second-fastest-growing region after Asia, with 12 of the 20 fastest-growing economies projected to be on the continent.

    Ethiopia’s Finance Minister, Ato Ahmed Shide, praised the report’s depth of analysis. “It underscores the fragility of Africa’s economic growth, which is projected to hover around 4 percent in the near term,” he said, emphasizing the need for proactive policy measures to sustain growth and stability. 

    He said Ethiopia has taken bold steps to restore macroeconomic stability, build resilience, and accelerate growth, with the government prioritizing economic liberalization, private sector empowerment, and fiscal discipline.

    Strengthening Africa’s Resilience

    In her remarks at the report’s launch, Nnenna Nwabufo, Vice President for Regional Development, Integration, and Business Delivery at the African Development Bank, highlighted the continent’s potential for driving global economic expansion but said achieving this requires decisive and well-coordinated policies.

    “As Africa navigates an increasingly complex economic landscape, policymakers must adopt a forward-looking approach to reinforce resilience and drive sustainable growth. Africa’s economic resilience and growth prospects remain strong, but challenges persist,” said Nwabufo, who represented the Bank Group’s President, Dr. Akinwumi Adesina.

    Presenting the report, Prof. Kevin Urama, the Bank Group’s Chief Economist and Vice President for Economic Governance & Knowledge Management, underscored the need for stronger coordination between monetary and fiscal policies to manage inflation while fostering economic expansion.

    He urged countries to strengthen foreign reserves to shield economies from external shocks and currency depreciations, alongside pre-emptive debt restructuring to prevent defaults and enhance financial stability.  

    Medium- to long-term strategies should include increasing investments in integrated infrastructure to drive economic transformation and diversification. Governments must work to enhance the business environment through regulatory reforms and long-term strategies to attract private investment, Urama said.

    The 2025 MEO report outlines key policy recommendations, including implementing pre-emptive debt restructuring to enhance financial stability, investing in integrated infrastructure to support economic diversification and improving the business environment through regulatory reforms and investment strategies.

    Path Forward

    Panel discussions following the report’s launch underscored the importance of fully implementing continental development initiatives such as the African Continental Free Trade Area agreement. Discussions also focused on accelerating new initiatives like the proposed Africa Credit Rating Agency and the African Financial Stability Mechanism.

    The panel, moderated by Dr Victor Oladokun, Senior Advisor (Communications and Stakeholder Engagement) to the Bank Group President, included contributions from the African Risk Capacity Group, represented by its chair, Dr. Mothae Maruping. Gambian Finance Minister Seedy Keita highlighted the African Development Bank’s support in implementing the country’s fiscal reforms and domestic revenue mobilization.

    African Union Trade Commissioner Albert Muchanga called on the private sector to do more to support the African Continental Free Trade Area, including through increased investments in logistics and manufacturing. “What I would expect [African businesses] to do is come up with logistics centers and warehouses across Africa; I would also expect the African private sector to start planning to develop an African shipping line… We are sitting on potential; the business sector has not responded,” Muchanga said.

    Click here (https://apo-opa.co/3CYp6fd) for the 2025 MEO report.

    MIL OSI Africa –

  • MIL-OSI: Change in the composition of Capgemini’s Board of Directors proposed to the 2025 Shareholders’ Meeting

    Source: GlobeNewswire (MIL-OSI)

    Media relations:
    Victoire Grux
    Tel.: +33 6 04 52 16 55
    victoire.grux@capgemini.com

    Investor relations:
    Vincent Biraud
    Tel.: +33 1 47 54 50 87
    vincent.biraud@capgemini.com

    Change in the composition of Capgemini’s Board of Directors
    proposed to the 2025 Shareholders’ Meeting

    Paris, February 17, 2025 – The Board of Directors of Capgemini SE, meeting on February 17, 2025, deliberated, based on the report of the Ethics & Governance Committee, on the change in its composition to be proposed to the next Shareholders’ Meeting of May 7, 2025.

    The Board of Directors decided to propose to the 2025 Shareholders’ Meeting, i) the renewal of the terms of office of Messrs. Patrick Pouyanné and Kurt Sievers and ii) the appointment of Mr. Jean-Marc Chéry as member of the Board of Directors, for a term of four years. This proposal is in line with the Board’s ambition to enrich the diversity of its profiles and deepen its industry expertise.

    Mr. Jean-Marc Chéry, a French national, is the President and Chief Executive Officer of STMicroelectronics, a global semiconductor company at the heart of the Intelligent Industry, committed to manufacturing sustainable technologies and offering its customers innovative solutions. He would also bring to the Board his expertise in technology, artificial intelligence, and industry knowledge, particularly in the automotive and energy sectors.

    The Board considers Mr. Jean-Marc Chéry to be independent pursuant to the criteria of the AFEP-MEDEF Code to which the Company refers.

    Assuming the adoption of these resolutions by the Shareholders’ Meeting of May 7, 2025, the composition of the Board of Directors would therefore count 15 directors, including two directors representing employees and one director representing employee shareholders. 83% of its members would be independent1, 40% would have international profiles and 42% would be women1.

    BIOGRAPHY
    Mr. Jean-Marc Chéry

    Mr. Jean-Marc Chéry is STMicroelectronics’ (ST) President of the Managing Board and Chief Executive Officer and has held this position since May 2018.

    Mr. Jean-Marc Chéry is a graduate of the École Nationale Supérieure d’Arts et Métiers (ENSAM) in Paris.

    He began his career in the Quality department of Matra, the French engineering group. In 1986, he joined Thomson Semiconducteurs, which subsequently became ST, and held various management positions in product planning and manufacturing, rising to lead ST’s silicon wafer manufacturing plant in Tours, France, and later in Rousset, France. In 2005, Mr. Chéry successfully led the company-wide 6-inch wafer-manufacturing restructuring program before taking charge of ST’s Front-End Manufacturing operations in Asia Pacific. In 2008, he was promoted to Chief Technology Officer and assumed additional responsibilities for Manufacturing and Quality (2011) and the Digital Product sector (2012). In 2014, he was appointed ST’s Chief Operating Officer responsible for Technology and Manufacturing operations. In July 2017, Mr. Chéry was appointed Deputy CEO with overall responsibility for Technology and Manufacturing, as well as for Sales and Marketing operations.

    He has sat on the Board of Directors of Legrand since 2021 and has chaired its Commitment & CSR Committee since 2023. He is also a member of France Industrie. He has been chair of the Board of Directors at the Global Semiconductor Alliance (GSA) since December 2024. He has served as Chairman of the France – Malaysia Business Council at Medef International since 2018.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.
    Get The Future You Want | www.capgemini.com

    1         The Directors representing employees and employee shareholders are not taken into account in calculating this percentage, in accordance with the provisions of the AFEP-MEDEF Code and the French Commercial Code.

    Attachment

    The MIL Network –

  • MIL-OSI: Taitiko: Pioneering the Future of Blockchain Gaming with ‘Troll-And-Earn’ Mechanics

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Feb. 17, 2025 (GLOBE NEWSWIRE) — Taitiko, an innovative blockchain-based gaming platform, is set to redefine the crypto gaming landscape with its unique ‘Troll-And-Earn’ (T2E) model. Drawing inspiration from popular titles like Fall Guys, Taitiko offers a series of engaging mini-games designed for both crypto enthusiasts and casual gamers.

    A New Era of Non-Speculative Gaming

    Unlike traditional play-to-earn models that often rely on volatile market dynamics, Taitiko introduces a stable in-game economy. Players earn Taitiko Coins (TTC), a stablecoin pegged to USDT and BUSD, ensuring consistent value and mitigating market speculation. This approach provides a secure and predictable earning environment for users.

    Diverse and Accessible Gameplay

    Taitiko’s platform features a variety of mini-games that require no prior skills, leveling the playing field for all participants. From classic games like “rock, paper, scissors” to innovative challenges reminiscent of playground favorites, Taitiko emphasizes fun and inclusivity. The system is designed without handicaps, ensuring that success is determined by player engagement and luck.

    Empowering the Community with $TTG

    Central to Taitiko’s ecosystem is the Taitiko Token ($TTG), which offers holders exclusive benefits such as access to special tournaments, unique in-game assets, and community events. A notable feature is the redistribution of 50% of the profits from every match back to $TTG holders, reinforcing Taitiko’s commitment to a sustainable and rewarding community-driven platform.

    Strategic Collaborations and Growth

    In a significant move to expand its reach, Taitiko has partnered with TON Station, a premier Web2/Web3 gaming platform developed by industry leaders Sidus Heroes and SuperVerse. This collaboration integrates Taitiko ARENA into TON Station’s ecosystem, granting access to a user base exceeding 7.5 million and offering enhanced engagement opportunities through quests and tournaments.

    Join the Taitiko Revolution

    As Taitiko continues to evolve, it invites gamers and crypto enthusiasts worldwide to experience its unique blend of entertainment and earning potential. With a focus on community, stability, and innovation, Taitiko is poised to set new standards in the blockchain gaming industry.

    For more information and to start your Taitiko journey, visit www.taitiko.com.

    Media Contact:

    Taitiko Media Relations

    info@taitiko.com

    Website: www.taitiko.com

    Twitter: @TaitikoOfficial

    Telegram: Taitiko Official

    Instagram: taitiko.official

    Disclaimer: This content is provided by Taitiko. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. 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 as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities .Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/89cf9d45-cc42-4d33-9b8e-2b4564f8a19d

    The MIL Network –

  • MIL-OSI Global: Geoengineering is politically off-limits – could a Trump presidency change that?

    Source: The Conversation – UK – By Hugh Hunt, Professor of Engineering Dynamics and Vibration, University of Cambridge

    One possible plan involves adding clouds in the upper atmosphere to reflect away sunlight. Thiago B Trevisan / shutterstock

    Donald Trump’s second presidential term is likely to mean big changes for those of us interested in geoengineering. The term refers to deliberate large-scale manipulation of the climate, perhaps by blocking out some sunlight or directly removing greenhouse gases from the atmosphere. Sometimes called climate engineering, we prefer the term “climate repair”.

    Trump is not the most natural supporter of climate change interventions. He is set to expand oil and gas production hot on the heels of the most terrible wildfires in California. At some point the US could see hurricanes on scales even more extreme than Katrina or Helene.

    Extreme weather will become harder to ignore. Trump could of course downplay any link to climate change but there’s a chance this might trigger him to decide emergency action is required and demand to know more about climate engineering options.

    After all, Trump is close to certain tech figures who like big technological solutions to global problems. He likes to act fast and is prepared to deal with democratic reactions later. In those circumstances he might feel that we should do whatever it takes to deploy new climate-saving strategies at speed.

    The most effective methods for cooling the planet involve making the Earth more reflective so that it absorbs less heat from the sun. One option, known as stratospheric aerosol injection, involves spraying sulphur dioxide into the upper atmosphere to mimic the cooling effect of volcanic eruptions.

    Clouds could also be altered to become more reflective, an option known as marine cloud brightening. We can even make ice in the Arctic more reflective by thickening it during the winter months so that it lasts longer in the summer, reflecting the sun’s heat back into space.

    The 1991 eruption of Mount Pinatubo in the Philippines added so much ash to the upper atmosphere the world cooled by about 0.5°C for a year.
    James St John / Flickr

    These technologies sound rather fanciful. Some might find them scary. But with the devastation of hurricanes and wildfires, Trump could potentially instruct the US military to give aerosol injection a go. At present, the technology would rely on high-altitude jets to take millions of tonnes of sulphur dioxide up to the stratosphere above the Arctic, and the US has a lot of these planes.

    Alternatively, Trump might take the opposite path and say “this is just part of the natural cycle of weather”. Climate-change deniers or those who believe reducing emissions alone will work to hit the 1.5°C or even 2°C targets may be given a platform to convince us all that there is no need for geoengineering.

    Geoengineering as an investment

    Maybe there is a middle ground. Trump could decide to support geoengineering research to help the insurance industry. If insurance companies will benefit by having fewer storms and fires, then this would be good for the US economy. So perhaps some expenditure on research right now may be a strategic investment.

    Behind the scenes are deep discussions on geoengineering governance. There are some who argue that geoengineering is so risky for the climate (what if the world cools too much? are we prepared for any unintended consequences?) that it shouldn’t be researched – or at least the research should not be funded by governments.

    Others argue that global governance and democratic issues (who is in charge? who gets a say?) need to be addressed before any research can begin. Then there’s the “slippery slope” argument, that once we start then we’ll never stop.

    Until now these kinds of arguments have slowed the pace of research, but Trump could say that the current position is wrong, as it holds back our knowledge of something which might help the US economy. If Trump decides to unlock geoengineering as an opportunity, then he may not just provide funding but instruct the national labs to get on with research at pace, thereby accelerating our knowledge of the different options. With good data we can make informed decisions.

    How much would this cost? It turns out that geoengineering research is not very expensive and Trump may figure that the potential upside is huge. If he gets excited about it, then geoengineering might suddenly capture the imagination of the US public.

    There is increased interest around the world so the situation in the US is being watched closely. With additional funding and instructions from the new president, geoengineering would soon become established in the mainstream.

    Our team at the Centre for Climate Repair in Cambridge are not the only ones thinking about all of this. This is a hot topic and one which is likely to see significant changes in the coming year.

    Hugh Hunt is affiliated with the Centre for Climate Repair at the University of Cambridge. The centre receives funds from various philanthropic sources.

    Shaun Fitzgerald receives funding from Philanthropists, Trusts and Foundations, and Government grants to work on a range of activities including greenhouse gas removal through and climate engineering.

    – ref. Geoengineering is politically off-limits – could a Trump presidency change that? – https://theconversation.com/geoengineering-is-politically-off-limits-could-a-trump-presidency-change-that-248589

    MIL OSI – Global Reports –

  • MIL-OSI: Moonacy Protocol has started development of its own payment system

    Source: GlobeNewswire (MIL-OSI)

    London, UK, Feb. 17, 2025 (GLOBE NEWSWIRE) — Moonacy Protocol  is a platform for fast cross-chain exchange of cryptocurrencies with the ability to invest in a liquidity pool and receive daily interest. The project team talked about the beginning of the development of a B2B payment system.

    Why is it needed?

    Businesses that will have access to the Moonacy Protocol payment system will be able to conveniently accept payments in cryptocurrency, automatically exchange it for any currency, and withdraw it. Currently, companies accepting cryptocurrency payments have to use different services, which in most cases are slow and inconvenient, as well as charge a decent interest rate for each transaction.

    Moonacy’s head of development department, Andrew Ellison, says that requests for the payment system are coming from customers: “Many customers have already said that they want to exchange cryptocurrency not as individuals but as businesses. Lately, there have been more and more such requests.”

    Lately, a lot of companies want to start working with cryptocurrency because more and more countries are making it legal to accept cryptocurrency payments. By adding a B2B solution to its platform, Moonacy Protocol will thus attract large customers and take a high position in the market.

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

  • MIL-Evening Report: Remembering the Poly-1: what NZ’s forgotten homegrown school computer can teach us about state-led innovation

    Source: The Conversation (Au and NZ) – By Mark Rickerby, Lecturer, School of Product Design, University of Canterbury

    The Poly-1. MOTAT , CC BY-NC

    Some 45 years ago, a team of staff and students at Wellington Polytechnic designed and built a desktop computer with an operating system customised for the needs of New Zealand schools.

    The Poly-1 was far ahead of international competition, but New Zealand failed to capitalise on the opportunity. At the time, public investment in a new knowledge-based industry ran counter to both “Think Big” industrial policy and the emerging neoliberal agenda in government.

    As New Zealand looks to scale up investment in artificial intelligence (AI) and advanced technologies, the story of the Poly-1 has enduring lessons about research and innovation policy – and the importance of multidisciplinary collaboration.

    Leading the world

    The Poly-1 was designed in 1980 as a learning device and teacher support tool. It was advanced for its time with colour graphics and powerful processors. It incorporated a networking feature, enabling up to 32 workstations across multiple sites to communicate over a real-time connection.

    Its tough, rounded fibreglass case with carry handles and integrated keyboard was ergonomically designed to handle the rigours of classroom use. A range of bold colour options were meant to make it more relatable for children.

    Fifty working prototypes were built in less than a year. A large group of volunteer teachers worked over the summer break to integrate course content and ensure it was ready for use in classrooms.

    In 1981, the Department of Education signed a NZ$10 million purchase agreement for 1,000 units per year over a five year period.

    The Poly-1 went into production under Polycorp, a joint venture with Lower Hutt-based Progeni. Manufacturing was backed by the state-owned Development Finance Corporation venture capital fund.

    Polycorp was poised for scale with a field-tested product and unique distributed learning model. Wide deployment in classrooms would position New Zealand as leading the world in maths education and applied computing.

    Blocking innovators and boosting importers

    Voicing outrage at this use of public funds, corporate lobbyists began publicly attacking “bureaucrats and boffins”. Privately, they put pressure on ministers sympathetic to a nascent deregulation agenda. They argued only the market could properly decide which computers were used.

    In 1982, then prime minister Robert Muldoon’s cabinet scuttled the deal, halting higher volume production and discarding two years of work.

    The beneficiary of the broken contract was Apple, which targeted New Zealand as its first education market outside the United States. It gave away free Apple II computers to schools, then followed up by offering larger volumes to the Department of Education at below cost.

    The Apple computers were unsupported by curriculum resources, lacked teacher training and were soon obsolete.

    By the mid 1980s, the rollout of computers in classrooms stalled as the Fourth Labour Government prioritised administrative reforms in education. Schools were left on their own to deal with hawkish IT vendors and distributors.

    Missed opportunities

    Relying on an underdeveloped market to serve the growing demand for computers in education led to anti-competitive practices and a devaluing of the teaching expertise behind the software and services.

    It’s unlikely the Poly-1 would have survived through the early 1990s as cheap IBM-compatible clones became widespread. But its ultimate end was a consequence of finance rather than technology.

    The collapse of the government-owned Development Finance Corporation in a complex tangle of failed property investments left Progeni directly exposed as a debtor to the BNZ, which was also teetering on the edge of collapse.

    In late 1989, Progeni was forced into receivership by the bank, which asset-stripped the company and sold it at a nominal value.

    Innovation is interdisciplinary

    The current government has recently announced major structural changes to New Zealand’s research and innovation system, including a new Public Research Organisation focused on advanced technology.

    Institutional reform is much needed and long overdue, but significant challenges remain. A narrow focus on science and technology driving economic growth is not enough. More attention to detail is needed to bridge from current capacity to a desired future state.

    The Poly-1 required collaboration with industrial designers and teachers to become market-ready – and the same is true today.

    Successfully commercialising research in AI and other advanced technologies requires contributions from experts across design, social science, arts and business.

    Like personal computers in 1980, AI is a new category with contested meanings. This has an impact on policy and the reception of new products.

    Discussions about state-led innovation often default to arguments about picking winners. But direct support for industries and firms is only part of the broader picture.

    In order to see economic and public benefits of investment in AI, the government has a role to play in coordinating interdisciplinary efforts across sectors. This requires visions for the future that are a practical response to the needs of individuals, businesses and communities.

    Countries like New Zealand have so far been consumers rather than producers of current generation AI. Changing this balance requires willingness to learn from past mistakes to support leadership in both innovation and regulation. Poly-1 still has lessons to teach us.

    Mark Rickerby was the recipient of an arts innovation grant from Manatū Taonga, Ministry for Culture & Heritage in 2021. He is a member of the New Zealand Game Developers Association (NZGDA).

    – ref. Remembering the Poly-1: what NZ’s forgotten homegrown school computer can teach us about state-led innovation – https://theconversation.com/remembering-the-poly-1-what-nzs-forgotten-homegrown-school-computer-can-teach-us-about-state-led-innovation-249577

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: YouTube at 20: how it transformed viewing in eight steps

    Source: The Conversation – UK – By Alex Connock, Senior Fellow, Said Business School, University of Oxford

    Chay Tee

    The world’s biggest video sharing platform, YouTube, has just turned 20.

    It was started inauspiciously in February 2005 by former PayPal employees Chad Hurley, Steve Chen and Jawed Karim – with a 19-second video of Karim exploring San Diego Zoo.

    That year, YouTube’s disruption of the media timeline was minimal enough for there to be no mention of it in The Guardian’s coverage of TV’s Digital Revolution at the Edinburgh TV Festival.

    Twenty years on, it’s a different story.

    YouTube is a massive competitor to TV, an engagement beast, uploading as much new video every five minutes as the 2,400 hours BBC Studios produces in a whole year. The 26-year-old YouTube star Mr Beast earned US$85 million (£67 million) in 2024 from videos – ranging from live Call of Duty play-alongs to handing out 1,000 free cataract operations.

    As a business, YouTube is now worth some US$455 billion (2024 Bloomberg estimate). That is a spectacular 275 times return on the US$1.65 billion Google paid for it in 2006. For the current YouTube value, Google could today buy British broadcaster ITV about 127 times.

    YouTube has similar gross revenue (US$36.1 billion in 2024) to the streaming giant Netflix – but without the financial inconvenience of making shows, since most of the content is uploaded for free.

    YouTube’s first video: a 19-second look at the elephants of San Diego Zoo.

    YouTube has 2.7 billion monthly active users, or 40% of the entire global population outside China, where it is blocked. It is also now one of the biggest music streaming sites, and the second biggest social network (to Facebook), plus a paid broadcast channel for 100 million subscribers.

    YouTube has built a video Library of Babel, its expansive shelves lined eclectically with Baby Shark Dance, how to fix septic tanks, who would win a shooting war between Britain and France … and quantum physics.

    The site has taken over global children’s programming to the point where Wired magazine pointed out that the future of this genre actually “isn’t television”. But there are flaws, too: it has been described as a conduit for disinformation by fact checkers.

    So how did all that happen? Eight key innovations have helped YouTube achieve its success.

    1. How new creativity is paid for

    Traditional broadcast and print uses either the risk-on, fixed cost of hiring an office full of staff producers and writers, or the variable but risky approach of one-off commissioning from freelancers. Either way, the channel goes out of pocket, and if the content fails to score with viewers, it loses money.

    YouTube did away with all that, flipping the risk profile entirely to the creator, and not paying upfront at all. It doesn’t have to deal with the key talent going out clubbing all night and being late to the set, not to mention other boring aspects of production like insurance, cash flow or contracts.

    2. The revenue model of media

    YouTube innovated by dividing any earnings with the creator, via an advertising income split of roughly 50% (the exact amount varies in practice). This incentivises creators to study the science of engagement, since it makes them more money. Mr Beast has a team employed just to optimise the thumbnails for his videos.

    3. Advertising

    Alongside parent company Google/Alphabet, and especially with the introduction (March 2007) of YouTube Analytics and other technologies, the site adrenalised programmatic video advertising, where ad space around a particular viewer is digitally auctioned off to the highest buyer, in real time.

    That means when you land on a high-rating Beyoncé video and see a pre-roll ad for Grammarly, the advertiser algorithmically liked the look of your profile, so bid money to show you the ad. When that system works, it is ultra efficient, the key reason why the broad, demographics-based broadcast TV advertising market is so challenged.

    4. Who makes content

    About 50 million people now think they are professional creators, many of them on YouTube. Influencers have used the site to build businesses without mediation from (usually white and male) executives in legacy media.

    This has driven, at its best, a major move towards the democratisation and globalisation of content production. Brazil and Kenya both have huge, eponymous YouTube creator economies, giving global distribution to diverse voices that realistically would been disintermediated in the 20th century media ecology.

    5. The way we tell stories

    Traditional TV ads and films start slow and build to a climax. Not so YouTube videos – and even more, YouTube Shorts – which prioritise a big emotive hit in the first few seconds for engagement, and regular further hits to keep people there. Mr Beast’s leaked internal notes describe how to do sequential escalation, meaning moving to more elaborate or extreme details as a video goes on: “An example of a one thru three minute tactic we would use is crazy progression,” he says, reflecting his deep homework. “I spent basically five years of my life studying virality on YouTube.”

    6. Copyright

    Back in 2015, if someone stole your intellectual property – say, old episodes of Mr Bean – and re-broadcast it on their own channel, you would call a media lawyer and sue. Now there is a better option – Content ID – to take the money instead. Through digital rights monetisation (DRM), owners can algorithmically discover their own content and claim the ad revenue, a material new income stream for producers.

    7. Video technicalities

    Most technical innovations in video production have found their way to the mainstream via YouTube, such as 360-degree, 4k, VR (virtual reality) and other tech acronyms. And now YouTube has started to integrate generative AI into its programme-producing suite for creators, with tight integration of Google’s Veo tools.

    These will offer, according to CEO Neal Mohan, “billions of people around the world access to AI”. This is another competitive threat to traditional producers, because bedroom creators can now make their own visual effects-heavy fan-fiction episodes of Star Wars.

    8. News

    YouTube became a rabbit hole of disinformation, misinformation and conspiracy, via a reinforcement-learning algorithm that prioritises view time but not editorial accuracy. Covid conspiracy fans got to see “5G health risk” or “chemtrail” videos, because the algorithm knew they might like them too.

    How can the big, legacy media brands respond? Simple. By meeting the audience where the viewers are, and putting their content on YouTube. The BBC has 14.7 million YouTube subscribers. ITV is exploiting its catalogue to put old episodes of Thunderbirds on there. Meanwhile in February 2025, Channel 4 also announced success in reaching young viewers via YouTube. Full episode views were “up 169% year-on-year, surpassing 110 million organic views in the UK”.

    Alex Connock has worked or consulted for BBC, Channel 4, ITV and Meta.

    – ref. YouTube at 20: how it transformed viewing in eight steps – https://theconversation.com/youtube-at-20-how-it-transformed-viewing-in-eight-steps-250083

    MIL OSI – Global Reports –

  • MIL-OSI Global: Feel like you’re in a funk? Here’s what you can do to get out of it – and how you can prevent it from happening in the future

    Source: The Conversation – UK – By Jolanta Burke, Senior Lecturer, Centre for Positive Health Sciences, RCSI University of Medicine and Health Sciences

    Whatever the reason, there are many things you can do to get out of a funk. Vectorium/ Shutterstock

    Are you feeling worn out? Struggling with lingering sadness, anxiety or feelings of indifference? If so, you might be stuck in a funk.

    There are many reasons you might find yourself in a funk – including returning home after a holiday, not being sure what your goals in life are and a lack of meaning and purpose driving you forward. Sometimes, there’s no clear reason why we find ourselves in a funk.

    Whatever the cause, don’t lose hope. There are many things you can do to turn the way you’re feeling around.

    Ready to make a change? The Quarter Life Glow-up is a new, six-week newsletter course from The Conversation’s UK and Canada editions.

    Every week, we’ll bring you research-backed advice and tools to help improve your relationships, your career, your free time and your mental health – no supplements or skincare required. Sign up here to start your glow-up at any time.

    1. Express yourself

    As obvious as it sounds, one of the best ways to get out of a funk is exploring the reasons you’re feeling this way.

    Try writing down your deepest thoughts and feelings without judgement – no matter how disjointed they are. Or, grab a paintbrush, spray paint, pencil or chalk and express your emotions through art. You might even choose to dance, letting your movements convey what you’re feeling and help you get to the root of your funk.

    Whatever form of self-expression works for you, all that matters is getting your feelings out. This will help you make sense of what’s causing your funk, and may make it easier to overcome.

    2. Remember the good times

    When we’re in a funk, we’re often overwhelmed by feelings of sadness or indifference. It can be hard to reduce these negative emotions – especially since negative feelings serve a purpose, by helping us understand what’s going on inside.

    Instead of trying to banish bad feelings, try instead to layer positive emotions on top of them. This may help balance your emotions out.

    You can do this by closing your eyes and savouring a happy moment from the past when you felt alive, vibrant and fulfilled. Use every sense as you relive those joyful memories.

    3. Connect with someone

    Research shows the most fulfilled people don’t bury themselves in their thoughts when feeling down. Instead, they look outward – engaging with others and their surroundings.

    So when you’re in a funk, try finding ways of connecting, even briefly, with the people around you. Even a simple conversation with a stranger might lift your spirits.

    Or take it a step further if you can and do something kind for someone – or try volunteering. This may help break you out of your low mood by giving you a sense of fulfilment?

    4. Heal in nature

    Nature is shown to improve wellbeing in many ways – such as lowering blood pressure, refreshing your mind and reminding you that you’re part of something larger than yourself.

    A walk in the park may have many benefits for your wellbeing.
    GoodStudio/ Shutterstock

    If you’ve been feeling down, try going for a walk in the park or find a quiet place to stop on a hike. Lift your head to the sky, listen for the birds singing, immerse yourself in the foliage and let the sound of water wash over you. All of these things are linked with better mental health.

    Preventing a funk

    Doing any of these activities even just once can make a difference to the way your feeling. The more often you do them, the better.

    And once you’ve broken out of your funk, there are things you can do to avoid slipping into one in the future.

    1. Build resilience

    Resilience isn’t just about bouncing back. It’s more about finding the right resources to help you get out of a funk – and knowing how to use these resources effectively.

    For example, if connecting with your friends helps boost your wellbeing, this would be considered one of your “resources” that can help break you out of a funk. Of course, schedules can get in the way, so you’ll need to to find a time that works best for everyone.

    This is what resilience is all about. Identifying your go-to resources for preventing those low feelings can help you create a ready-made toolkit to draw from whenever you feel a funk coming on. To build your tool-kit, think about the things that made the biggest difference in pulling you out of a funk the last time.

    2. Cultivate hope

    Hope isn’t just wishful thinking. It’s about cultivating the will to keep moving forward and finding a way to get there. It’s a pathway to a better life, keeping us focused on growth.

    But one of the challenges in building hope is the lack of a clear vision of where we want to be. To overcome this, take some time to imagine your best-case scenario – what your life would look like ten years from now if everything you’ve ever hoped for came true.

    Spend 20 minutes writing it down. Don’t stop to worry about spelling or grammar (this is just for you). Repeat this exercise as often as needed to create your ideal future.

    When you’re finished, write down how you can achieve what you hope for. Having a well-defined vision of your best possible self can help keep you motivated and prevent you from feeling stuck – and will also give you a reserve of hope to draw upon when facing hard times.

    3. Practise self-acceptance

    Most importantly, focus on practising self-acceptance. Everyone experiences rough patches, so don’t be hard on yourself for being in a funk — it’s just a temporary state.

    Embrace where you are and accept yourself fully, regardless of your current situation. And remember that self-acceptance doesn’t mean resignation. It’s about acknowledging, “It’s okay to be me,” while also envisioning how you want “me” to evolve in the future. With this mindset, you can work towards becoming the person you aspire to be.

    Unlike trees, which are rooted in place, we have the flexibility to grow and change. Remember this the next time you start feeling stuck.

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

    – ref. Feel like you’re in a funk? Here’s what you can do to get out of it – and how you can prevent it from happening in the future – https://theconversation.com/feel-like-youre-in-a-funk-heres-what-you-can-do-to-get-out-of-it-and-how-you-can-prevent-it-from-happening-in-the-future-235986

    MIL OSI – Global Reports –

  • MIL-OSI Global: AI vampires could save Buffy fan favourites like Angel and Spike from a reboot recast

    Source: The Conversation – UK – By Valentina Signorelli, Associate Professor in Film and TV, University of Greenwich

    Buffy fans are rejoicing that a reboot of the series by Oscar-winning director Chloé Zhao is imminent, with Sarah Michelle Gellar set to reprise the title role.

    For millennials like myself who grew up devouring the show (to the point of creating a new academic field, Buffy studies), this news is extremely exciting. However, some critical details remain unclear.

    When Gellar addressed the rumour of a reboot in an Instagram post on February 6, her co-star David Boreanaz, who played Buffy’s first love interest, Angel, commented: “Excited for you and your journey. Enjoy the moments and continue to give back to fans.”

    His words, which seem to suggest he won’t be returning as Angel, allude to a significant challenge facing the reboot. What to do about now-visibly older cast members such as Boreanaz (now 55) who play ageless vampires? James Marsters, who played Buffy’s punk-rebel lover, Spike, faces a similar problem: he is now 62.

    However, in the two decades since the final episode aired, there have been significant advancements in technology that may offer a way around having to sideline or recast fan favourites. The solution could involve the use of AI de-ageing technology.

    AI vampires

    De-ageing technology isn’t new to Hollywood. AI rejuvenation has been used in a number of blockbusters over the last few years – take Robert De Niro, Joe Pesci and Al Pacino in The Irishman (2019), for example. More recently, Tom Hanks was de-aged using AI for the graphic novel adaptation Here.

    AI has also been used to restore actors’ voices. This effect was used for the voice of Val Kilmer in Top Gun: Maverick (2022). Kilmer had lost his voice as a result of his battle with throat cancer.

    How de-ageing technology was used in The Irishman.

    A mixed voice-and-vision technique has also allowed The Mandalorian (2020) and The Book of Boba Fett (2021) to bring back a young Luke Skywalker. And Roadrunner: A Film About Anthony Bourdain (2021) controversially used AI to recreate the late chef’s timber for the voiceover.

    However, AI has yet to be explored in the unique context of the timeless vampire character – an archetype where immortality and daring beauty are defining traits, at least on TV.

    If done right, AI could de-age Boreanaz and Marsters, allowing the actors to return as Angel and Spike without breaking continuity or forcing abrupt casting changes.

    In return, this move could influence the vampire genre as a whole – not only bringing TV actors back to beloved roles but, more importantly, allowing them to carry their fan base with them into a new era.

    AI and gender in Hollywood

    Women have been disproportionately affected by AI’s impact on job security, as a 2024 Mercer study highlighted.

    Hollywood still has a gender disparity problem. In 2024, 70% of the top-grossing films had ten or more men in key positions behind the screen, compared with just 8% for women. AI is enhancing this gap, automating roles where women have greater representation (such as background acting and voice work), as well as excluding them from AI development and decision-making.

    Male actors, meanwhile, have seen their job security increased by the technology, as they’re able to retain leading roles in film sequels such as Harrison Ford in Indiana Jones and the Dial of Destiny (2023).

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    In the Buffy reboot, led by a now 47-year-old Gellar, we could witness an intriguing power reversal in both cases. If AI is not used, removing Boreanaz and Marsters from their roles, the show could still stand without them. Unlike her male co-stars, Buffy is human, so ageing isn’t a major issue for Gellar and her character. Twenty years later, fans would naturally expect to see her looking visibly older and facing new adventures.

    However, if AI de-aging is used to preserve Angel and Spike as we remember them in their often-sexualised signature look, then Buffy’s vampire lovers would look noticeably younger than her for the first time. This would provide an interesting twist to what film historian Steve Neale has defined as “masculinity as spectacle”, reversing traditional gendered cinematic power dynamics.

    By allowing AI to preserve Angel and Spike as immortal, the reboot could bridge generational and new fans while exploring the latest use of a controversial technology.

    Regardless of the outcome, we know Buffy doesn’t “have time for vendettas. The mission is what matters”. Let’s hope this new show can rise to the challenge and still slay in the 21st century.

    Valentina Signorelli is co-founder of Italian production company Daitona

    – ref. AI vampires could save Buffy fan favourites like Angel and Spike from a reboot recast – https://theconversation.com/ai-vampires-could-save-buffy-fan-favourites-like-angel-and-spike-from-a-reboot-recast-249403

    MIL OSI – Global Reports –

  • MIL-OSI USA: Governor McKee, Rhode Island Department of Housing Announce Municipal Fellows Program Awards to Help Address the Housing Crisis

    Source: US State of Rhode Island

    Published on Monday, February 17, 2025

    PROVIDENCE, RI — Governor Dan McKee and the Rhode Island Department of Housing today announced grant awards to eight municipalities totaling approximately $1.1 million through the Municipal Fellows Program. This program places early-career professionals in roles focused on planning, zoning, and housing development, to support municipal efforts to increase housing production as well as grow the pipeline of planners in the state.

    “My administration has made historic investments in housing development and preservation. Continued progress on housing goals depends on action at the local level,” said Governor Dan McKee. “With the Municipal Fellows program, we are directly supporting municipalities to move projects forward and address local barriers to housing production.”

    “Addressing Rhode Island’s housing crisis requires an all-hands-on-deck approach. We need municipalities to be our partners in creating more housing, and we also need more professionals in the planning field so that our cities and towns can strategically address zoning and development,” said House Speaker K. Joseph Shekarchi. “The Municipal Fellows program addresses both of these objectives and the end result will benefit our entire state.”

    “Addressing Rhode Island’s housing crisis requires a comprehensive and collaborative approach. These grant awards, and the fellowships they will support, represent the kind of action necessary to bolster our efforts and ensure our communities have the tools necessary to meet our housing needs,” said Senate President Dominick J. Ruggerio.

    Following in-depth discussions with municipal leaders, the Department of Housing identified key challenges to housing production, including staffing shortages at the local level which impact review process timelines and capacity to address local zoning issues. In response, the Department, in collaboration with its partners, launched the Municipal Fellows program as part of a series of municipal supports.

    “Our municipalities play a critical role in addressing the housing crisis,” said Rhode Island Department of Housing Secretary Deborah Goddard. “The Department has engaged in conversations with all 39 cities and towns, as well as the League of Cities and Towns. It is clear that municipal leaders are eager to grow housing opportunities but often face barriers. In many conversations, we heard that staff capacity to engage in planning is a problem. That’s where the municipal fellows program comes in: putting new capacity right into cities and towns to move projects forward.”

    Fellows are funded for nearly two years and are focused on planning and development activities within the municipality. Awardees include:

    • Newport — $154,000
    • Coventry — $154,000
    • Cranston —$147,000
    • Foster — $147,000
    • Johnston — $147,000
    • Westerly — $147,000
    • Lincoln — $147,000
    • Cumberland — $103,459

    “Our Fellow, Diego, possesses ability, interest, and professionalism that are most impressive,” said Shawn Lacey, Westerly Town Manager. “His desire and ability to learn the fundamentals of planning in the public sector is apparent. We look forward to his contribution, with his architectural and urban planning skills, to the Town’s’ evolving affordable housing policy and the creation of a strategic production plan for the next decade.”

    To date, Coventry, Cranston, Newport, Johnston, Lincoln, and Westerly have successfully hired fellows, with the remaining municipalities making significant progress in their hiring efforts.

    The Municipal Fellows program is part of a series of municipal supports created by the Department of Housing and other partners. Additional municipal supports include the recently announced $2.8 million in municipal infrastructure grants, led by the Rhode Island Infrastructure Bank in partnership with the Department of Housing, to enhance municipal infrastructure and support the development of affordable housing across the state.

    The Municipal Fellows program is funded by State Fiscal Recovery Funds. 

    For more information on all Department of Housing programs, please visit www.housing.ri.gov.

    MIL OSI USA News –

  • MIL-OSI Africa: Financing Oil and Gas (O&G) Projects in Congo: Increased Investment to Drive Output

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

    BRAZZAVILLE, Congo (Republic of the), February 17, 2025/APO Group/ —

    As the Republic of Congo endeavors to boost its oil production to 500,000 barrels per day (bpd) by 2027 and expedite gas exploration and production, the Ministry of Hydrocarbons is simultaneously prioritizing the modernization of downstream infrastructure to address energy insecurity. With new regulatory measures, large-scale infrastructure projects and a strong push toward sustainability, the country has seen an influx of international investment, thereby strengthening Congo’s momentum toward ambitious reforms in the hydrocarbon sector.

    Towards Increased Production

    The Congolese subsidiary of China Oil Natural Gas Oversees Holding Ltd (Cogo) plans to invest $150 million to boost oil production over the next three years in the Conkouati-Koui and Nanga III fields in Congo. The company will drill four wells – two in each field – with the project set to expand to include 3D seismic surveys and further data analysis. On October 3, 2024, the new Director General of Cogo’s Congolese subsidiary Fublert Dzimbe presented the company’s activity roadmap to the Minister of Hydrocarbons Bruno Jean-Richard Itoua.

    Meanwhile, oil and gas supermajor TotalEnergies announced last year that it will invest $600 million to strengthen exploration and production activities in Congo. The investment will be used to finance exploration and maintain production in the country’s deep offshore Moho Nord field, which accounts for approximately half of all Congolese oil production – roughly 140,000 bpd. TotalEnergies’ commitment to Congo’s oil production is set to ensure additional production of 40,000 bpd, adding to the country’s current levels of 267,000 bpd.

    Set to finance a seven-year development program across the Mengo-Kundji-Bindi IIoilfields in Congo, oil and gas company Trident secured a $300 million financing facility from pan-African multilateral financing institution Afreximbank in 2023. The capital will enable the company to increase production – up to 30% of national crude output – while opening job creation opportunities.

    A Focus on Refining

    Currently, the Congolaise de raffinage, a subsidiary of the state-owned Société nationale des pétroles du Congo, operates the nation’s sole refinery in Pointe-Noire. With a processing capacity of one million tons per year, the refinery converts crude oil into finished products such as butane gas, gasoline, kerosene, light diesel and heavy fuel oil, meeting approximately 70% of the country’s refined energy needs.

    To address growing domestic demand and reduce the reliance on imports, the government has initiated the construction of a new refinery in Fouta – near Pointe Noire. Known at the Atlantic Petrochemical Refinery, the project is being developed in partnership with the Chinese firm Beijing Fortune Dingheng Investment, representing an investment of around $600 million. The first phase aims to achieve a production capacity of 2.5 million tons per year, focusing on high-quality gasoline and diesel. The refinery is expected to commence operations by the end of 2025, contributing significantly to national energy security.

    As sub-Saharan Africa’s fourth-largest oil producer, Congo presents significant investment opportunities for global investors. The country aims to attract fresh capital to its oil sector, with a licensing round set to be launched at the inaugural Congo Energy & Investment Forum (CEIF) 2025, taking place in Brazzaville from March 24-26. Meanwhile, the country is preparing to launch its Gas Master Plan alongside a new Gas Code at CEIF 2025, which are set to provide a strategic framework for investing in the country’s gas value chain.

    MIL OSI Africa –

  • MIL-OSI: Telnyx launches AI Accelerator with $20k in free credits

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 17, 2025 (GLOBE NEWSWIRE) — Telnyx, a global provider of innovative communications solutions, has launched an AI Accelerator program to help new businesses scale, with up to $20K in free credits for enterprise-grade communications infrastructure with an AI use case.

    The program supports startups building AI-driven VoIP applications, communication tools, call centers, IOT apps, and real-time WebRTC solutions. Participants will receive exclusive discounts, priority support, and full access to Telnyx’s AI voice, WebRTC SDKs, and Flow automation tools.

    “We understand the challenges startups face because we’ve been there. That’s why we’re removing barriers, giving growing companies the freedom to scale without worrying about communication costs or capabilities,” said Ian Reither, COO of Telnyx.

    Eligible growing companies can apply to build and scale without restrictive pricing models or limited feature sets. Unlike competitors, Telnyx offers complete access to its network, flexible pricing, and a developer-friendly API suite.

    Apply now to qualify for up to $20K in free credits.

    For media inquiries, please contact:
    Telnyx Media Relations
    press@telnyx.com

    The MIL Network –

  • MIL-OSI: Baltic Horizon Fund consolidated unaudited results for Q1-Q4 2024

    Source: GlobeNewswire (MIL-OSI)

    Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the twelve months of 2024.

    Our strategic ambitions
    In 2024, the Fund’s management team made the strategic decision to implement key performance indicators (KPIs) as a means to effectively measure and track performance. This decision stems from the recognition that clear and measurable benchmarks are essential for evaluating progress towards the Fund’s objectives. By defining specific KPIs, the team aims to enhance transparency, accountability, and facilitate decision-making processes.

    The focus of the Fund management team is and will be on these major objectives:

    • Portfolio occupancy of at least 95% by end of June 2025;
    • Loan-to-Value target at 50% or lower;
    • To consider disposing of non-strategic assets over the next 18 months;
    • Clear ESG and refurbishment strategy for the next 1-2 years with an aim to reach the portfolio’s NOI potential of EUR 18 million by 2027;
    • Maintaining 100% BREEAM or LEED certified portfolio;
    • Achieving not less than 4 stars from GRESB assessment.

    As we recap our goals for 2024, we can report the following achievements:

    We have successfully achieved 100% portfolio certification.

    Despite receiving a 3-star GRESB rating in 2024, we have thoroughly analysed the assessment results and developed an action plan to secure a 4-star GRESB rating in 2025.

    Although we did not reach our target of 90% portfolio occupancy by the end of 2024, we made significant progress, achieving an 86.5% occupancy rate based on lease signing date.

    We have recently announced our disposal strategy to reduce LTV level to the target level. Several disposal processes have already commenced as of February 2025, with the closing of transactions planned for later in the year.

    Looking ahead to 2025, we will continue with the same solid strategy and goals that will stabilize the Fund’s financial position and maximize the potential of its portfolio.

    Leasing performance

    In a challenging environment characterized by increasing real estate market vacancies across all Baltic states in recent periods, the Fund also faced outflows of some tenants, however it has demonstrated its adaptability and the attractiveness of its properties by renewing a significant amount of existing leases and signing a substantial number of new leases in 2024. This success was primarily attributable to significant deals with prominent anchor tenants such as Narbutas in Meraki (3,200 sq. m) and Apollo Group in Coca-Cola Plaza (2,200 sq. m), International School of Riga in S27 (3,680 sq. m) and significant leases in Galerija Centrs  signed with My Fitness (2,000 sq. m) and Expo GROUP (2,000 sq. m).

    The Fund team has been diligently negotiating with current tenants to extend lease agreements, while also actively engaging with new tenants to fill the vacancies.  These efforts have resulted in lease renewals of approximately 23,800 sq. m and a net lease inflow of approximately 4,800 sq. m

    During 2024, the Fund signed new leases for 22,743 sq. m, securing an annual rental income of EUR 2,945 thousand for future periods. Furthermore, 61 new tenants have been attracted to our buildings, while 69 existing tenants have decided to continue their cooperation with us.

    By the end of December 2024, the occupancy of the portfolio increased to 82.1%. Calculating based on the lease signing date, the occupancy already exceeds 86%. Signed premises will be handed over to tenants in 2025.

    Notably, less than 20% of the leases are set to expire during 2025, while the vast majority expire in 2026 and later. We aim to spread our lease terms evenly so that no more than 20% of our leases expire each year.  Recent successful leasing activity is reflected in the increase in the weighted average unexpired lease term until the first break option, which was 3.3 years as of 31 December 2024 (compared to 2.9 years as of 31 December 2023).

    Outlook
    In 2025 the Fund will focus on flexible and sustainable solutions to meet tenant demands and market conditions.

    Our key goals are increasing the occupancy of the portfolio and decreasing the LTV by way of repaying part of the bonds.

    In 2025, the Baltic commercial real estate market is anticipated to navigate both considerable challenges and emerging opportunities. Persisting economic uncertainty is expected to keep demand for commercial spaces subdued. Key factors influencing this trend include evolving consumer preferences, the continued expansion of e-commerce, and the sustained shift toward remote work, all of which are reshaping the need for office and retail properties.

    While economic forecasts cautiously suggest potential market stabilization in the coming year, a rapid recovery remains unlikely due to geopolitical uncertainties and evolving tenant and consumer needs. Recognizing these challenges, the Fund’s management strives to enhance financial stability by reducing leverage through partial bond repayment. This strategy aims to alleviate financial pressure, positioning the Fund for more sustainable financial performance.

    As part of this initiative, the Fund has announced a strategic plan to divest select assets, with the objective of reducing the LTV ratio to below 50% and fostering a more stable recovery. Up to three assets have been identified for potential disposal based on their life cycle, optimization potential, and alignment with the Fund’s long-term strategy. Among these, the Postimaja and CC Plaza complex in Tallinn has been introduced to the market, following the Fund’s successful achievement of 100% occupancy and WALT exceeding five years. Given limited opportunities for further value enhancement beyond its development potential—an avenue the Fund does not intend to pursue in the short term—the asset has been prioritized for sale. To facilitate the divestment process, the Fund has engaged Newsec Advisers UAB and Redgate Capital AS as financial advisors. The sales process was commenced in February, with the aim of closing later in the year.

    As of the date of release of this report, the Fund has a Letter of Intent (LOI) with a potential buyer and DD is in progress with Meraki property. According to LOI, the transaction would be finalized in spring 2025. At the end of 2024, the property had an occupancy of 86% and WAULT of 4.3 years. Due to anticipated vacancies in the office sector and an increasing supply, the Fund has decided not to proceed with the development of a second tower, for which the permit remains valid. The current market conditions, characterized by recovering investor activity, present an improved opportunity to sell the property. Potential buyers have also shown preliminary interest in Lincona and Pirita Center.

    If the divestment plan proceeds as anticipated, the Fund will be positioned to repay a significant portion of its bonds while continuing to invest in its remaining property portfolio. This will enable the Fund to concentrate on its core assets in alignment with its strategic objectives, providing a solid foundation for future growth.

    To achieve our goal of increasing portfolio occupancy, we are adapting to the evolving needs of our tenants and customers. The rise of e-commerce and online shopping has transformed the traditional concept of shopping centres. Visitors now seek not only to try on and purchase goods but also to enjoy entertainment and experiences.

    This trend is evident in the success of our food courts, such as Burzma and Dialogai, as well as the interactive exhibition Kosmopark, which attracted a significant number of visitors in Europa and now operates in Galerija Centrs. Following this success, we have signed a new 3-year lease with an entertainment operator to open a Danger Park on the second floor of Europa shopping centre in May 2025. We are also considering various entertainment concepts for Galerija Centrs. Additionally, we will continue to offer the community a variety of events and temporary pop-ups in both shopping centres.

    In line with our strategic goal to increase occupancy, we are reviewing the concept in Europa and seeking the best tenant mix. We are currently negotiating a lease with a 700 sq m. anchor fashion leader and have advanced discussions with several coworking operators who find the shopping centre and its location ideal for their concept, one of them has already signed a LOI for 1,300 sq m. We believe that the combination of entertainment and a wide range of catering options, which will expand from the food court to a newly planned restaurant zone on the first floor facing Konstitucijos Avenue, along with strategic changes to the tenant mix on the second and third floors, will maximize visitor flow and fully exploit the potential of the shopping centre.

    While the traditional shopping centre concept remains effective for Galerija, as evidenced by increasing foot flow and turnover, we are exploring additional concepts for currently vacant premises to complement our existing tenants and expand the range of services offered to visitors.

    Office tenants are currently looking not just for a place to work during the day, but rather for hybrid working spaces or built-to-suit solutions with increased expectation over ESG, workplace wellbeing features and easily reachable services, which become increasingly important. During the last year, we witnessed a higher demand for mixed-use projects that combine commercial spaces with services, including catering, medical clinics and fitness centres. We believe, that in the upcoming years demand for such concepts will grow further and will add value to the properties.

    We continue to adapt to market demands by diversifying our office tenant mix beyond traditional occupiers, integrating catering operators, medical clinics, and even kindergartens into our office buildings. This approach not only enhances tenant diversification but also meets the needs of both our customers and the surrounding communities.

    In the office sector, our primary challenge and focus in 2025 will be addressing the remaining vacancies in S27 and Upmalas. A significant milestone in 2024 was securing a lease agreement for approximately 3,680 sq. m. in S27 with the International School of Riga, a leading provider of international education serving students from preschool through high school, set to open at the end of 2025. Even in the current market conditions we are confident that the International School of Riga coming into the building together with the renovation and improvements that are being done will enable us to attract new tenant segments that recognise the value of synergy.

    Our commitment to supporting existing and prospective tenants, along with our ability to tailor office spaces to individual requirements, positions us well to lease the remaining areas in North Star and Meraki in the coming quarters.

     Our investments in green energy projects remain a key priority, and from Q1 2025, all our properties in Latvia and Lithuania will transition to using energy from remote solar panels. In Estonia, we are actively exploring solutions in our properties to reduce the reliance to gas. Additionally, we are evaluating new technologies and sustainability initiatives that align with our ESG strategy while enhancing energy efficiency, optimizing property performance, and reducing operational costs.

    Simultaneously, to reinforce its financial position, the Fund is committed to improving its debt service ratio and reducing loan-to-value levels. By focusing on increasing occupancy rates and optimizing property concepts, we aim to enhance asset performance and maximize net operating income. Adaptive leasing strategies, property repositioning, and targeted investments in high-demand segments will remain key priorities. These initiatives are designed to create long-term value for investors while ensuring the Fund remains resilient in a dynamic market environment.

    Baltic Horizon achieves a 100% BREEAM certified portfolio
    In 2025, we will continue advancing our social and environmental commitments. All our assets have been BREEAM-certified, and by the end of 2024, we achieved 98% green leases across our portfolio, with a target to further increase this share in the coming year.

    GRESB benchmarking
    Recently, we announced a 3-star GRESB rating of 80 points, falling 1.5 points short of the 4-star threshold. This decline, compared to previous years, reflects increasing industry-wide commitments, heightened requirements, and evolving best practices. The management team has conducted a thorough analysis of the assessment results and developed an action plan aimed at restoring the Fund’s 4-star rating in 2025.

    Net result and net rental income
    In 2024, the Group recorded a net loss of EUR 16.8 million compared with a net loss of EUR 23.0 million for 2023. The result was mainly driven by the property valuation loss. Earnings per unit for 2024 were negative at EUR 0.13 (2023: negative at EUR 0.19).

    The Group earned consolidated net rental income of EUR 11.6 million in 2024 (2023: 14.6 million). The results for 2023 include two months’ net rental income of the Domus Pro Retail and Office property (EUR 0.3 million) and five months’ net rental income of the Duetto properties (EUR 1.2 million), which were sold in February and May 2023, respectively.

    On an EPRA like-for-like basis, the portfolio net rental income in 2024 was 11.8% lower than in 2023, mainly due to vacancies in office properties in Latvia due to the expiry of the agreement with the main tenant in Upmalas Biroji BC and 100% vacancy of S27, as well as lower rental income in Europa due to the new anchor tenant IKI equipping the premises and opening in March.

    Portfolio properties in the retail segment contributed 53.3% (like-for-like 2023: 43.6%) of net rental income in 2024, followed by the office segment with 41.7% (like-for-like 2023: 50.9%) and the leisure segment with 5.0% (2023: 5.5%). 
    Retail assets located in the central business districts (Postimaja, Europa and Galerija Centrs) accounted for 42.2% of total portfolio net rental income in 2024. Total net rental income attributable to neighbourhood shopping centres was 11.1% in 2024.

    In 2024, investment properties in Latvia and Lithuania contributed 44.4% (like-for-like 2023: 41.8%) and 22.8% (like-for-like 2023: 31.1%) of net rental income, respectively, while investment properties in Estonia contributed 32.8% (like-for-like 2023: 27.1%).

    Investment properties
    At the end of Q4 2024, the Baltic Horizon Fund portfolio consisted of 12 cash flow generating investment properties in the Baltic capitals. The fair value of the Fund’s portfolio was EUR 241.2 million at the end of December 2024 (31 December 2023: EUR 250.4 million) and incorporated a total net leasable area of 118.3 thousand sq. m. The change in portfolio value was mainly driven by the changes in exit yields and upward adjustments of the weighted average cost of capital (WACC). During 2024 the Group invested approximately EUR 6.0 million in tenant fit-outs.

    Gross Asset Value (GAV)
    As of 31 December 2024, the Fund’s GAV was EUR 256.0 million (31 December 2023: EUR 261.1 million). The decrease compared to the prior year was mainly related to the negative revaluation of the Fund’s investment properties of approx. EUR 9.5 million and was partly offset by the private placement of new units which took place in September and resulted in a cash increase of approx. EUR 6.29 million.

    Net Asset Value (NAV)
    As of 31 December 2024, the Fund’s NAV was EUR 98.1 million (31 December 2023: EUR 109.5 million). The NAV decrease was mainly due to the revaluation of investment properties. At the end of September 2024 new units were issued resulting in approx. EUR 6.29 million of new equity. As of 31 December 2024, IFRS NAV per unit amounted to EUR 0.6833 (31 December 2023: EUR 0.9156), while EPRA net tangible assets and EPRA net reinstatement value were EUR 0.7267 per unit (31 December 2023: EUR 0.9546). EPRA net disposal value was EUR 0.6797 per unit (31 December 2023: EUR 0.9122).

    Interest-bearing loans and bonds
    As of 31 December 2024, interest-bearing loans and bonds (excluding lease liabilities) were EUR 149.0 million (31 December 2023: EUR 143.5 million). Annual loan amortisation accounted for 1.5% of total debt outstanding. In July 2024, the Fund successfully signed the Meraki loan with Bigbank for a total amount of EUR 10.3 million. A major part of the loan was used to repay short term bonds in the amount of EUR 8.0 million maturing in July 2024.

    As of 31 December 2024, the Fund’s consolidated cash and cash equivalents amounted to EUR 10.1 million (31 December 2023: EUR 6.2 million).

    Cash flow
    Cash inflow from core operating activities in 2024 amounted to EUR 9.9 million (2023: cash inflow of EUR 11.4 million).  Cash inflow from core operating activities decreased mainly due to the sale of Duetto and Domus Pro properties in H1 2023 and higher vacancies, mostly in S27 and Upmalas Biroji. Cash outflow from investing activities was EUR 7.0 million due to investments in existing properties and transaction costs (2023: cash inflow of EUR 19.9 million due to sales of assets). Cash inflow from financing activities was EUR 1.0 million (2023: cash outflow of EUR 30.5 million). In Q4 2024, the Fund prepaid loans in the amount of EUR 2.7 million and paid regular amortisation and interest on bank loans and bonds.

    Key earnings figures 

    EUR ‘000 Q1-Q4 2024 Q1-Q4 2023 Change (%)
    Net rental income 11,588 14,617 (20.7%)
    Administrative expenses (2,373) (2,617) (9.3%)
    Net other operating income 18 44 (59.1%)
    Losses on disposal of investment properties (863) (4,047) (78.7%)
    Valuation gains (losses) on investment properties (15,581) (21,876) (28.8%)
    Operating profit (loss) (7,211) (13,879) (48.0%)
    Net financial expenses (10,344) (9,750) 6.1%
    Profit (loss) before tax (17,555) (23,629) (25.7%)
    Income tax 774 656 18.0%
    Net profit (loss) for the period (16,781) (22,973) (27.0%)
           
    Weighted average number of units outstanding (units) 143,562,514 119,635,429 20.0%
    Earnings per unit (EUR) (0.12) (0.19) (39.1%)

    Key financial position figures

    EUR ‘000 31.12.2024 31.12.2023 Change (%)
    Investment properties 241,158 250,385 (3.7%)
    Gross asset value (GAV) 256,048 261,138 (1.9%)
           
    Interest-bearing loans and bonds 148,989 143,487 3.8%
    Total liabilities 157,953 151,606 4.2%
           
    IFRS NAV 98,095 109,532 (10.4%)
    EPRA NRV 104,333 114,205 (8.6%)
           
    Number of units outstanding (units) 143,562,514 119,635,429 20.0%
    IFRS NAV per unit (EUR) 0.6833 0.9156 (25.4%)
    EPRA NRV per unit (EUR) 0.7267 0.9546 (23.9%)
           
    Loan-to-Value ratio (%) 61.8% 57.3% –
    Average effective interest rate (%) 6.7% 5.2% –

    During Q4 2024, the average actual occupancy of the portfolio was 81.0% (Q3 2024: 80.1%). The occupancy rate increased to 82.1% as of 31 December 2024 (30 September 2024: 80.5%).

    Overview of the Fund’s investment properties as of 31 December 2024

    Property name Sector Fair value1 NLA Direct property yield Net initial yield Occupancy rate
    (EUR ‘000) (sq. m) 20242 20243
    Vilnius, Lithuania            
    Europa SC Retail 35,946 17,092 2.3% 2.8% 80.6%
    North Star Office 19,548 10,734 6.5% 7.0% 91.8%
    Meraki Office 16,3804 7,833 1.2% 1.5% 86.3%
    Total Vilnius   71,874 35,659 3.0% 3.6% 85.2%
    Riga, Latvia            
    Upmalas Biroji BC Office 19,224 11,203 3.7% 4.2% 64.1%
    Vainodes I Office 15,900 8,128 8.8% 8.8% 100.0%
    S27 Office 11,360 7,303 (0.6%) (0.9%) –
    Sky SC Retail 4,900 3,260 8.6% 8.5% 100.0%
    Galerija Centrs Retail 60,020 19,423 3.2% 4.1% 84.7%
    Total Riga   111,404 49,317 3.7% 4.5% 71.0%
    Tallinn, Estonia            
    Postimaja & CC Plaza complex Retail 21,800 9,232 3.7% 6.7% 100.0%
    Postimaja & CC Plaza complex Leisure 13,190 7,869 4.8% 4.3% 97.7%
    Lincona Office 13,100 10,767 6.4% 7.4% 88.5%
    Pirita SC Retail 9,790 5,425 6.7% 9.2% 97.1%
    Total Tallinn   57,880 33,293 4.9% 6.7% 95.3%
    Total active portfolio   241,158 118,269 3.8% 4.7% 82.1%
    1. Based on the latest valuation as of 31 December 2024 and recognised right-of-use assets.  
    2. Direct property yield (DPY) is calculated by dividing annualized NOI by the acquisition value and subsequent capital expenditure of the property.
    3. The net initial yield (NIY) is calculated by dividing annualized NOI by the market value of the property.
    4. Meraki value measured at disposal price. Market value according to independent property valuators Newsec is EUR 17,490,000.

    CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

    EUR ‘000 01.10.2024 01.10.2023 01.01.2024 01.01.2023
    – 31.12.2024 – 31.12.2023 – 31.12.2024 – 31.12.2023
    Rental income 3,779 3,755 15,136 17,743
    Service charge income 1,145 1,487 4,744 6,008
    Cost of rental activities (2,205) (2,348) (8,292) (9,134)
    Net rental income 2,719 2,894 11,588 14,617
             
    Administrative expenses (644) (631) (2,373) (2,617)
    Other operating income (expenses) 3 29 18 44
    Losses on disposal of investment properties (245) (237) (863) (4,047)
     Valuation losses on investment properties (3,052) (7,250) (15,581) (21,876)
    Operating profit (loss) (1,219) (5,195) (7,211) (13,879)
             
    Financial income 169 29 196 104
    Financial expenses (2,789) (2,538) (10,540) (9,854)
    Net financial expenses (2,620) (2,509) (10,344) (9,750)
             
    Profit (loss) before tax (3,839) (7,704) (17,555) (23,629)
    Income tax charge 457 (53) 774 656
    Profit (loss) for the period (3,382) (7,757) (16,781) (22,973)
           
    Other comprehensive income that is or may be reclassified to profit or loss in subsequent periods
    Net gain (loss) on cash flow hedges (446) (759) (1,003) (1,273)
    Income tax relating to net gain (loss) on cash flow hedges 1 64 52 123
    Other comprehensive income (expense), net of tax, that is or may be reclassified to profit or loss in subsequent periods (445) (695) (951) (1,150)
             
    Total comprehensive income (expense) for the period, net of tax (3,827) (8,452) (17,732) (24,123)
             
    Basic earnings per unit (EUR) (0.02) (0.06) (0.13) (0.19)
    Diluted earnings per unit (EUR) – – (0.12) –
                 

    CONSOLIDATED STATEMENT OF FINANCIAL POSITION

    EUR ‘000 31.12.2024 31.12.2023
    Non-current assets    
    Investment properties 241,158 250,385
    Intangible assets 4 11
    Property, plant and equipment 5 4
    Derivative financial instruments 1 295
    Other non-current assets 1,225 647
    Total non-current assets 242,393 251,342
         
    Current assets    
    Trade and other receivables 2,800 2,591
    Prepayments 802 402
    Derivative financial instruments – 621
    Cash and cash equivalents 10,053 6,182
    Total current assets 13,655 9,796
    Total assets 256,048 261,138
         
    Equity    
    Paid in capital 151,495 145,200
    Cash flow hedge reserve (420) 531
    Retained earnings (52,980) (36,199)
    Total equity 98,095 109,532
         
    Non-current liabilities    
    Interest-bearing loans and borrowings 98,491 64,158
    Deferred tax liabilities 1,898 2,774
    Other non-current liabilities 1,446 1,079
    Total non-current liabilities 101,835 68,011
         
    Current liabilities    
    Interest-bearing loans and borrowings 50,736 79,584
    Trade and other payables 4,473 3,343
    Income tax payable 14 6
    Other current liabilities 895 662
    Total current liabilities 56,118 83,595
    Total liabilities 157,953 151,606
    Total equity and liabilities 256,048 261,138

    For additional information, please contact:

    Tarmo Karotam
    Baltic Horizon Fund manager
    E-mail tarmo.karotam@nh-cap.com
    www.baltichorizon.com

    The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. 

    Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com

    To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on www.baltichorizon.com. You can also follow Baltic Horizon Fund on www.baltichorizon.com and on LinkedIn, Facebook, X and YouTube.

    This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 19:30 EET on 17 February 2024.

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    The MIL Network –

  • MIL-OSI: Societe Generale: Information regarding executed transactions within the framework of a share buyback program (outside the liquidity agreement)

    Source: GlobeNewswire (MIL-OSI)

    INFORMATION REGARDING EXECUTED TRANSACTIONS WITHIN THE FRAMEWORK OF A SHARE BUYBACK PROGRAM (OUTSIDE THE LIQUIDITY AGREEMENT)

    Regulated Information

    Paris, 17 February 2025

    (In accordance with article 5 of Regulation (EU) No 596/2014 on Market Abuse Regulation and article 3(3) of Delegated Regulation (EU) 2016/1052 supplementing Regulation (EU) No 596/2014 through regulatory technical standards concerning the conditions applicable to buyback programs and stabilization measures)

    As announced on Thursday 6 February 2025, Societe Generale started on Monday 10 February 2025, an ordinary share buyback program for EUR 872 million for the purpose of shares cancellation.

    Societe Generale received all necessary authorizations from supervisory authorities. These buybacks will be carried out in compliance with the conditions, notably regarding the maximum price, set forth by the General Meeting of 22 May 2024 and presented in the description released on 17 May 2024, as well as in accordance with the Market Abuse Regulation. They are performed on the trading platforms on which Societe Generale shares are listed for trading or are traded, including the regulated market of Euronext Paris.

    Purchases performed during the period from 10 to 14 February 2025 are described below. As of February 14, 2025, Societe Generale has completed 12% of its share buyback program, representing 0.4%* of its share capital.

    The liquidity contract concluded with Rothschild has also temporarily been suspended throughout the buyback period.

    Issuer name: Societe Generale – LEI O2RNE8IBXP4R0TD8PU41

    Reference of the financial instrument: ISIN FR0000130809

    Period: From 10 to 14 February 2025

    * Ratio between the number of shares repurchased and the 800,316,777 shares comprising the current share capital.

    Purchases performed by Societe Generale during the period

    Aggregated presentation by day and market

    Issuer name Issuer code (LEI) Transaction date ISIN Code Daily total volume (in number of shares) Daily weighted average price of shares acquired Platform
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 362 124 35,7689 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 199 120 35,7415 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 25 000 35,7473 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 15 000 35,7792 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 398 546 36,1667 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 165 000 36,1551 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 19 000 36,1305 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 12 000 36,1520 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 345 676 37,1056 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 150 000 37,0716 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 19 000 37,0939 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 11 000 37,0842 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 305 947 37,2202 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 202 000 37,2104 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 28 000 37,1090 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 15 000 37,1341 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 347 390 36,9117 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 176 000 36,9096 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 20 000 36,9106 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 12 000 36,9131 AQEU
          TOTAL 2 827 803 36,6008  

    Press contacts:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Correction: Interim Management Statement Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Correction to the announcement made at 07:00 on 17/02/2025 (Interim Management Statement Q1 2025): The RNS was dated incorrectly. All other information was correct:

    17 February 2025

    HARGREAVE HALE AIM VCT PLC
    (the “Company”)

    Interim Management Statement

    Q1 2025

    Introduction

    This interim management statement covers the first quarter of the 2024/25 financial year, 1 October 2024 to 31 December 2024. Investment performance measures contained in this report are calculated on a pence per share basis and include realised and unrealised gains and losses.

    Overview

    Once again, we have endured a difficult start to the financial year, albeit for very different reasons. The 2024 Autumn budget, preceded by some unhelpfully stark messaging, has weighed on economic activity. GDP, employment reports and PMI surveys all highlight a notable softening in the UK economy through the second half of (cal.) 2024.

    Measures of UK consumer and business confidence dipped, suggesting that households and companies were becoming increasingly cautious. Although a very significant increase in public spending is expected to support economic activity pickup in 2025, there is clear evidence that The Office for Budget Responsibility forecast for GDP to increase from 1.1% in 2024 to 2.0% in 2025 is likely to be revised lower when next updated.

    UK fiscal policy is seen as being negative to growth and positive for inflation. In the round, this adds up to fewer rate cuts in 2025. With higher inflation and lower growth undermining the case for lending to the UK Government, UK Gilt yields broke out to the upside and Sterling to the downside. The move higher in borrowing costs was exacerbated by higher yields in the US Treasuries market. The Government is on the back foot and will need to respond before the 2025 Autumn budget.

    None of this has been helpful for investor interest in UK equities with outflows increasing again after a period of improving sentiment through the early Summer. This was particularly acute for AIM and, more broadly, the IA UK Small Cap sector.

    Reflecting this, the FTSE AIM All-Share Index was noticeably weak ahead of and subsequent to the budget, with the index steadily declining for 7 months through to 31 December 2024. Within the period, the AIM All-Share index returned -2.32% in the three months to 31 December 2024, lagging the FTSE All Share Index (-0.35%). We continue to believe that many small companies trading on AIM offer exceptional value.

    Performance

    In the three months to 31 December 2024, the unaudited NAV per share decreased by 0.40 pence from 40.55 pence (cum-dividend) to 40.15 pence, giving a total return of -0.99%.

    The qualifying investments fell by 0.09 pence per share whilst the non-qualifying investments made a loss of 0.25 pence per share. The adjusting balance was the net of running costs and investment income.

    Qualifying Investments

    Aquis Exchange (+93.1%, +£1.66m) received a takeover offer from its larger Swiss peer SIX Exchange at 727p. This was a 120% premium to the previous closing price, a 45% premium to the average share price over the prior 12 months and slightly above the 2021 share price high of 720p. This equates to an exit multiple of 4.7x for the VCT. The transaction was approved on 18 December 2024 and is expected to complete in Q2 2025.

    PCI-PAL (+30.3%, +£1.09m) reported good FY24 results with revenues +20% to £18.0m and positive EBITDA of £0.9m. The company also reported strong SAAS metrics with ARR growing by 23%, Net Retention Rate at 102% and low churn. Following a £3.3m fundraise in March 2024, the balance sheet is strong with £4.3m cash. Positive news flow continued subsequently with a key contract renewal and in-line AGM trading update. Post period end, the company reported strong trading for the 6m to 31 December 2025 and re-iterated guidance for FY25.

    Cohort (+15.0%, +£0.65m) announced strong interim results for the 6m to 31 October 2024 with revenues increasing by 25% and a record order book of £541m. The company confirmed it remains on track to achieve market forecasts for FY25. Separately, Cohort announced the £74m acquisition of Australian-based satellite communications company EM Solutions. The acquisition was partly funded through existing cash & debt facilities, combined with a £40m fundraise at 875p.

    Following weak financial performance in FY24, Equipmake (-40.0%, -£0.93m) raised £3m in October 2024. The additional capital, when combined with cost action, has extended the company’s cash runway to March 2025. This was followed by the subsequent launch of a strategic review and a formal sale process.

    Fadel (-42.9%, -£0.72m) saw customer implementation delays and an unsuccessful new business tender. Revenue forecasts for FY24 were reduced by 12% from $14.8m to $13m. The high drop through of revenues to profits meant that projected FY24 EBITDA losses increased from $2.3m to $4m. The company has adopted a more disciplined approach to cost that has yielded an improved outlook for losses and cash performance in 2025.

    Team Internet (-27.7%, -£0.43m) shares fell sharply in Q4 2024 as the company announced that revenues at a recently acquired online marketing business Shinez would fall short of expectations. More recently the shares have begun to recover as the company announced it had received a preliminary takeover proposal.

    Non-Qualifying Investments

    The IFSL Marlborough UK Micro-Cap Growth Fund (+0.6%, +£0.06m) and IFSL Marlborough Special Situations Fund (-1.3%, -£0.13m) were broadly flat over the period. Within the non-qualifying portfolio, the weaker outlook for the UK economy following the Autumn budget impacted WH Smith, Wickes and Hollywood Bowl. Chemring also fell as earnings forecasts were impacted by rising national insurance costs and the curtailment of the company’s share buy-back in favour of preserving funds for organic investment.

    Portfolio structure

    The VCT is comfortably above the HMRC defined investment test and ended the period at 87.5% invested as measured by the HMRC investment test. By market value, the weighting to qualifying investments increased from 56.0% to 56.9%.

    The market remains very subdued with just two VCT qualifying IPOs within the last 12 months. There were two new equity investments into companies listed on AIM and one CLN into an existing portfolio company listed on AIM. We remain hopeful that improving market conditions will help drive an increase in deal flow during 2025.

    The new qualifying investments included a following on (CLN) investment into Rosslyn Data Technologies and new equity investments into Feedback and Ixico. There were no material disposals in the quarter. We sold two legacy tail investments (Gfinity and Surface Transforms) and trimmed our investment in Cohort following a period of strong share price performance.

    There were no substantial changes to the allocation to the two IFSL Marlborough Funds, non-qualifying equities, fixed income, ETFs or cash which respectively represented 13.4%, 6.8%, 12.9%, 0.4% and 9.6% of net assets.

    The HMRC investment tests are set out in Chapter 3 of Part 6 Income Tax Act 2007, which should be read in conjunction with this interim management statement. Funds raised by VCTs are first included in the investment tests from the start of the accounting period containing the third anniversary of the date on which the funds were raised. Therefore, the allocation of qualifying investments as defined by the legislation can be different to the portfolio weighting as measured by market value relative to the net assets of the VCT.

    Share Buy Backs & Discount

    3.9 million shares were acquired in the quarter at an average price of 38.27 pence per share. The share price decreased from 39.00p to 38.40p and on 31 December 2024 traded at a discount of 4.74% to the last published NAV per share (as at 27 December 2024, published on 31 December 2024).

    Post Period End

    The unaudited NAV per share increased from 40.15 pence to 40.22 pence (cum div) as at 7 February 2025, an increase of 0.17%. The FTSE AIM All-Share index increased by 0.09%.         

    END

    For further information please contact:

    Oliver Bedford, Canaccord Genuity Asset Management

    Tel: 020 7523 4837

    LEI: 213800LRYA19A69SIT31        

    The MIL Network –

  • MIL-OSI Russia: Joint Statement by the Saudi Finance Minister and IMF Managing Director at the conclusion of the Inaugural Al Ula Economic Conference for Emerging Market Economies

    Source: IMF – News in Russian

    February 17, 2025

    Al Ula, Saudi Arabia – February 17, 2025: A two-day inaugural annual global Conference on Emerging Market Economies was held in Al Ula, Saudi Arabia from February 16-17, co-hosted by the Saudi Finance Ministry and the International Monetary Fund (IMF). Mohammed Aljadaan, Finance Minister of Saudi Arabia, and Kristalina Georgieva, Managing Director of the IMF, made the following statement at the end of the conference:

    “We would like to thank Emerging Markets policymakers, academics, and representatives of the regional and international financial institutions for joining us and helping to make this first-ever Al Ula Economic Conference for Emerging Market Economies a successful forum for building greater collaboration and discussing the specific challenges facing emerging markets (EMs).

    “Over the past two days, we have discussed how emerging economies can navigate the risks and, importantly how they can embrace the opportunities ahead. One common emerging theme is the importance of unity of purpose and the need to continue working together to sustain EM economies’ resilience to shocks and sustain growth. Three takeaways to highlight:

     “First, this is a time of sweeping transformations—from technology to trade, or climate to capital flows. And these changes are reshaping the global economy. How all these changes will unfold remains to be seen. But we know that in a more uncertain and shock-prone world, building resilience through sound macroeconomic and financial policies must continue to be a priority.

    “Second, emerging markets are seizing these transformations to make their economies stronger. With widespread digitalization and ambitious policies, the prospects for harnessing the benefits of AI are promising. Tapping the potential of AI would enhance Emerging Market Economies’ productivity and resilience, but it will require reforms to boost investments in digital infrastructure and human capital. Deeper regional trade and financial integration would also be important.

    “Third, while these transformations offer great opportunities, we must work together to help avoid the very real risk of some countries falling behind. The first line of defense will of course be strong domestic policies and reforms to help seize these opportunities. But the international community can also support countries and reduce the risk of growing divergence.

    “We are proud to have co-hosted the first global forum that is focused solely on the economic prospects for Emerging Market Economies and we look forward to continuing the discussions in the year ahead and at the second Al Ula conference next year.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/02/17/pr-25039-saudi-arabia-joint-statement-by-the-saudi-finance-minister-and-imf-md

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Europe: Minister welcomes record goods exports from Ireland in 2024

    Source: Government of Ireland – Department of Jobs Enterprise and Innovation

    17th February 2025

    The Minister for Enterprise, Tourism and Employment, Peter Burke, today welcomed the latest Goods Exports and Imports release from the CSO which shows that goods exports rose to €224 billion in 2024.

    This was an increase of € 28 billion or + 14% when compared with 2023. 

    Commenting on today’s figures, Minister Peter Burke said: 

    “I am delighted to welcome the publication of this trade data today which shows that the highest value of goods exports from Ireland was achieved in 2024. These export figures show a significant positive 14% growth when compared to 2023.  This performance is testament to the strength of exporting companies in Ireland and to their efforts in growing business, reaching new markets and delivering this record performance.”

    The EU continues to be Ireland’s largest market, with €88.5 billion of goods exports in 2024, an increase of € 7.4m (9 %) in 2023.

    This is followed by the US, accounting for €72.6 billion of exports in 2024, another increase year on year, by a total of €18.6 billion on 2023.

     Of this, € 20,131 billion went to Germany, € 22,993 billion went to the Netherlands and €17,031 billion went to Belgium.

    The value of goods exports to Great Britain fell in 2024 to € 15.7 billion.  This is a fall of € 1.7 billion or – 10% compared to 2023.   

    The highest category of exports where Medical and Pharmaceutical Products which rose by €22.4 billion to €99.9 billion which accounted for 45 % of goods exports in 2024. 

    The Minister commented further:

    “The Government is committed to supporting companies competing and growing on a global scale and the work of our enterprise and development agencies Enterprise Ireland and IDA Ireland, is working to expand Ireland’s global trade links and enhance our competitiveness as a top location for business and talent.”

    ENDS

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